My experience working with Redfin and a traditional broker to sell Real Estate |
- My experience working with Redfin and a traditional broker to sell
- What is the most bathrooms you have seen in a single bedroom home?
- Home owner just signed daughter to a year lease before listing.
- Offer Accepted!! (SF Bay Area)
- Neighbor interfering in sale of house
- At what point do you concede to the market?
- Finally Funded!
- Ring doorbell
- Rent or Buy? - Market and Election/COVID
- Vacation home an hour away from primary residence.
- Is the real estate market starting to cool off?
- I’m so tired of houses being listed for far more than they are worth.
- Blocked from seeing a house?
- Finally put in an offer yesterday [MI]
- New NMLS and starting as an MLO?
- Workarounds for getting a loan for a 3-unit house? Planning to combine two units
- Is it that bad?
- Would anyone have insight as to what is going on with with this listing for 148 acres with an asking price of $55,900?
- single website for GIS info? (USA)
- Is anyone unsure about buying a house right now with the elections coming up?
- Home buyer backed out - offered us 1 percent of deposit. What is my best course of action? (CA)
- (US-FL) Chances of apartment rental prices dropping?
- 22 Year Old with a Empty Plot of Land
- Am I Making a Mistake
- Rent to Own
| My experience working with Redfin and a traditional broker to sell Posted: 25 Sep 2020 05:39 PM PDT First off, I am a real estate investor. I don't have a bias one way or another. Just posting my experience for reference. I sold a home in August using Redfin, never met my agent and they made it simple for me. Did I get any true consult? Maybe kinda but the realtor I worked with wasn't local to the area and never even was willing to visit our home due to covid (I get it, but masks and hand sanitizer are likely sufficient). All in all, looking back, I could've gotten an extra 5k had I received better consult. It would've also cost me 5k extra to hire a 5% realtor. I'm in the process of selling another home right now. I inherited this from my father, recently. Redfin sent a senior agent that was focused on the Seattle market to the other side of the state and his market analysis came back with 300 square feet under what it was, told us that a home that was 400 sq ft smaller only 200 yards away from mine that recently went pending wasn't a comparable and that my house was worth the same if not less than that one. He insisted my house was the size he thought and didn't urge me to get it verified since I thought he was wrong. I met with two other realtors, both local, took an extra 30 minutes+ to review the house, take notes down and put time into it and experiencing how it felt to be there. One came back 10% higher than Redfin, the other over 25% higher. We went with the highest CMA, listed it and already have a full price offer. TLDR: if I went with the low commission realtor, I would've cost myself significantly more than I would have gotten out of working with a regular broker. Why? Time, niche-market focused, experience and care. My point of view? Home selling for more than 400k? Pay the extra. Home selling for less? Go with Redfin as long as the agent is experienced and has less than 10 listings. Maybe I'm wrong. Maybe I'm right. This is just the way I see things. Let me know your thoughts. [link] [comments]  |
| What is the most bathrooms you have seen in a single bedroom home? Posted: 25 Sep 2020 11:33 PM PDT Ideally a single bedroom home should have 1 bathroom, at most 1.5. But I've recently seen a 1 bedroom condo online that had 3 toilets, and it got me thinking. "Are there single bedroom homes with more than 3 toilets?" and "What is the largest toilet to bedroom ratio out there?" The rules where simple. It had to be a single family residential home. The building that the home was in could have a shop or a commercial office that was also included, but the bathrooms that where accessible from the shop or office didn't count. Only bathrooms that the residents of the home could reasonable access would count. With this in mind I was able to find a 1 bedroom 5 bathroom house https://www.zillow.com/homedetails/726-Dayton-St-Yellow-Springs-OH-45387/34182229_zpid/ Do you guys know of anymore 1 bedroom homes you've seen that have a ridiculous number of bathrooms? [link] [comments]  |
| Home owner just signed daughter to a year lease before listing. Posted: 25 Sep 2020 05:25 AM PDT Currently shopping for a duplex. One we look at yesterday is occupied fully, we would be taking over one of the units. Originally we wanted to move into the smaller of the two, but the current owner just signed his daughter up for a one year lease with no security deposit right before listing, didn't find out until we got to the showing. The rent is competitive and that part we are comfortable with, still fine with living in the unit that would be available for us. But with it being rented to his daughter, is that something we should walk away from or am I thinking too much about it? First time home buyer, disclaimer. [link] [comments]  |
| Offer Accepted!! (SF Bay Area) Posted: 25 Sep 2020 09:49 AM PDT I know some don't consider this a big deal, but this is one of the most competitive AND pricey markets. 6 offers later, finally got my offer accepted. As for the pricing details, my offer was for $250k over list ($1.75m list, $2m offer). I had tried anywhere from +$130k to +$250k in the past 3 months and had gotten rejected. I had gotten countered before and in some cases didn't even make it in the top X offers to get a counter. I know people will say that 50% of offers don't go through, but in the market I'm looking at, you're talking mostly dual income tech folks or people with money. Out of the 100+ homes I've tracked, maybe 1 or 2 ever changed statuses back after going to pending/contingent. People generally follow through. Whew. All right. Onto the next step. Edit: Home in question isn't some sort of mansion. This is a 60+ year old home, basic 4/2, nothing drop dead gorgeous, no dream kitchen, etc. Just a modest home to put a roof over my head. Yes that's how ridiculous the market is over here. Had I wanted a really nice house I'd probably need another $500k. [link] [comments]  |
| Neighbor interfering in sale of house Posted: 25 Sep 2020 04:49 PM PDT Writing on behalf of my mom, who is selling her house after 30 years, sorry if this gets long. She actually retired and relocated a year ago, but was renting the house out in the mean time while she made sure she liked her new location. Around two months ago she decided that yes, she was confident in her new location, had the renters move out (with appropriate notice) and began working with a real estate agent and their associated contractor to do some fixes to the house to get it ready to sell. About a week ago her realtor received a 10 page e-mail from a neighbor we have never spoken to before (back of his house faces the back of ours), detailing all the ways in which our home is apparently decrepit. This thing is an absurdly detailed list of "damages" over the last 30 years, down to things like "there was a hail storm in 2004 and they never made any repairs" (Uh, because nothing was damaged??). Obviously our agent has been to the house, walked through the house, and is aware that it's not like some crazy hovel like this man is claiming. After receiving this e-mail the realtor had their in house lawyer respond, basically saying that our state is an as is state, the realtor and seller have every intention of making any legally necessary disclosures, and the buyer has every right to do an inspection and negotiate accordingly. He responded a few more times listing some HOA violations with paint colors, etc, and the lawyer responded again saying that if we are in violation, the HOA is welcome to inform us, and we will adjust accordingly. Today, the house goes on the market, within hours it has its first walk throughs scheduled, and shortly thereafter a GIANT banner appears on this neighbor's deck (facing in to our own deck) saying "[My House Number] 'As Is' Condition, ARE YOU SURE???" He clearly specifically waited until after 5:00 on a Friday when it would be difficult to get the HOA to do anything. My mom has tried calling the police non-emergency line, but they're saying that because she doesn't live in the house, it's not her he's harassing. Any other advice on what can be done to get this man to back off? [link] [comments]  |
| At what point do you concede to the market? Posted: 25 Sep 2020 05:14 PM PDT We have gone through countless homes at this point in three different cities. My husband is still relatively hopeful, and I was too. However, I am just about over it. We have been home owners for over 10 years now, but the realities of this market have me considering renting. The monthly payment would be more, but it might be worth it to be "home" already. We close on our current home in just a matter of days, but there's no end in sight for us to actually buy a home. This is a bit of a vent, but I am also wondering at what point would you/did you decide to put your buying plans on hold? [link] [comments]  |
| Posted: 25 Sep 2020 07:09 PM PDT Just wanted to give a shout to /r/realestate for guiding me through a shitshow. Locked in a great rate of 2.5% fixed 30 due in large part to advice being shared here. Low appraisal was the first hurdle so we forked over 5k to cover. Mortgage broker made a mistake then lied repeatedly until we could escalate over the underwriter to get everything passed through. 2 extensions with seller asking for money, had to replace the furnace and got funding 20 minutes before cut off time. Finally recorded and ours after what seemed like a completely cursed transaction. Just want to say thanks to this community even tho im a lurker y'all helped me tremendously. Good luck out there! It'll happen. [link] [comments]  |
| Posted: 26 Sep 2020 03:29 AM PDT We have our inspection at 9am this morning for the house we are selling. We have a ring doorbell that "does not convey" and we forgot to change it out. It's 6am here and my husband is not worried about it. Did we HAVE to have it changed out to the regular doorbell already? Will we get in trouble if we don't have that done by inspection? Thanks in advance. [link] [comments]  |
| Rent or Buy? - Market and Election/COVID Posted: 26 Sep 2020 02:36 AM PDT The family and I are moving in the next month or so for work. We have lender pre-approval, as well as a realtor working with us. So, what's the reason for the question? Well, the market we are going to right now is a seller's market. Low supply and high demand means bidding wars and the such. We are prepared to pay those prices...however, upon further consideration of how the election/COVID might affect the market, we are now a bit more concerned. If the market takes a hit, and becomes a buyer's market...that would be a lot of money wasted on our part if we buy now. Of course, maybe nothing happens at all. With the craziness going on right now, does it make sense to just rent when we get on ground until after the election and see how it all plays out after the new year? Or try to lock in some of these really low rates (we would qualify for very low rates [around 2.75 if locked in now]) and ride it out? The main issue we have with renting is that all the rental options are trash that we've seen. We know what we want and we'd be settling in literally every area to get into a rental in the area. We don't know for sure how long we will be staying in this area. It could be 5+ years, or it could be 1 year. It all depends on how things go with the new job and future promotions. Thanks in advance and sorry if I'm all over the place here...brain is a bit frazzled. [link] [comments]  |
| Vacation home an hour away from primary residence. Posted: 25 Sep 2020 10:28 PM PDT Hi, is anyone in the above situation where they have a second residence that they drive to on the weekends and is unoccupied during the week? How did that work out for you? I'm thinking break-ins might be an issue so I'd have cameras installed. Anything else? [link] [comments]  |
| Is the real estate market starting to cool off? Posted: 25 Sep 2020 06:24 PM PDT I am here in MD and this summer was insane every house we bid on went close to 50K over! Iam staring to see a lot of investor properties that were prior rentals coming up for sale now. I feel like the market is staring to cool off not sure if this is a sign of a bigger drop off that may be coming. [link] [comments]  |
| I’m so tired of houses being listed for far more than they are worth. Posted: 25 Sep 2020 09:35 PM PDT It would be one thing if they are selling for close to the amount they are listed for, but they are not. I understand that COVID has driven house prices up, but the prices houses are listed for are just so delusional I don't even want to deal with them. One house for example was originally listed for $805 despite a comparable house (both fully renovated, same square footage, both have pools) sold for $600 9 months earlier... Of course it didn't sell for 805. It sold for a little over 700, which still sucks considering you could have gotten the "same" house for a hundred grand cheaper nine months ago, but I get that COVID changes things.. Another house went up for sale in the neighborhood for 525. This house is an absolute dump, hasn't been renovated since the 1980's and is bland as can be from the outside. Funny thing is, there is a house a few doors down for sale that had a starting price at 520, that still hasn't sold 2 months later even after lowering the price to 485. This house is a thousand times nicer than the one that was just listed for 525, that I can't comprehend why they felt like they could ask that much. I'm honestly feeling like this new listing is some inside job to get the other house sold with how ridiculous the list price is. I'm beginning to feel like the neighborhood I'm looking in is in a weird bubble. Very rarely does something come on the market that is priced at pre-Covid and of course that sells within the day. Everything else just sits and lowers the price until finally someone bites and overpays. Right before Covid super nice houses (that were amazingly priced comparatively) were not selling for months... I feel like these outrageous listing prices are tricking people into thinking they are getting a good deal (When a slight more reasonable house house comes on the market), despite the fact that these houses aren't selling. Is anyone else dealing with a market like this? I'd honestly rather get into a bidding war because then at least I wouldn't feel like the only person willing to overpay for said house. I'm afraid to even make an offer, because said house is obviously still overpriced (even after reductions), there's a good chance they will lower again, and just because "one" person pays that much, doesn't mean the house is worth that much (I'd believe it if multiple people offered that much) .. While I don't believe the housing market is in a "bubble" as a whole, I do believe the specific neighborhood I'm looking in is severely inflated due to lack of inventory and I'm tired of it. [link] [comments]  |
| Posted: 25 Sep 2020 09:28 PM PDT Hello, Has anyone known a sellers agent to block a buyer from seeing a house because they didn't like their agent? I'm pretty sure that it happened to me and im not sure if there is anything we can do about it. Long story short my realtor has been trying to request a showing for a home and its been crickets, even though they work for the same company. She then tells me to try online on their website and see I get a response. Within 1 minute I get a response about seeing the the property the next day from the co-lister who just so happens to be my agents ex-business partner (team-member) I'm not sure exactly how it works. She was offering to show me the house until she found out who my agent was and just said good luck, tough market. My agent tries again to get us a showing the next day and interesting enough there are no available showings anymore even though the listing agent was willing to show it the next day? Has anyone heard of this? Sellers agents blocking other agents clearly for personal reasons. I don't know what to do. [link] [comments]  |
| Finally put in an offer yesterday [MI] Posted: 26 Sep 2020 12:51 AM PDT My wife and I have been loosely discussing moving for a couple years. It was never an urgent need to move, but we've kind of liked the idea. With COVID happening we had to cancel several planned vacations and that's left us fairly cash-heavy at the moment (and without much in the way of other entertainment) so we figured screw it, let's start looking. We've been looking for about 4 months now and are pretty picky. That combined with the low inventory right now means we haven't really found a place we liked all that much. Yesterday we finally did and put in an offer. I'm excited, but trying not to get my hopes up too much. Yesterday was the first day on the market and there was already one other offer in when we submitted ours. Trying to keep a level head and not get sucked into a bidding war on it, but it's hard. [link] [comments]  |
| New NMLS and starting as an MLO? Posted: 26 Sep 2020 12:51 AM PDT I'm kinda doing this out of order, I'm getting my NMLS without having a job lined up. I'm interested in working as an MLO but most listing I see say they want someone with experience. Is this a career I can transition into from outside of banking? As a consumer, I kinda think online lending is the future and will siphon on a large amount of business from brick-and-mortar (though those serve a niche too). Online seems like it can offer more volume. But, again, they all want years of experience and I have none. [link] [comments]  |
| Workarounds for getting a loan for a 3-unit house? Planning to combine two units Posted: 26 Sep 2020 12:19 AM PDT First, I apologize for any misuse of language, or any noobness, I'm very new to this. My partner and I are looking to buy our dream single-family home in California via a jumbo loan... but it's a big house that was split up into three separate units, each with their own bathrooms (toilet+shower) and kitchen. It's not owner-occupied as they live out of state. We put a bid on it last month, but the sellers went to someone else that out in a higher bid. We got a phone call today letting us know that the buyers can't qualify for a loan because it's technically a multi-unit. The sellers called us asking for a cash offer since they don't think we'll be able to get a loan either but we can't come up with that. My partner and I are trying to figure out what else we can do. We are considering offering to combine two of the units so that the house will only be a two-unit house, which will qualify it for a loan. We'd like to work out a deal where the seller puts the sale of the house on hold while we knock down a wall or two ourselves to combine two units, possibly just converting one of the smaller kitchens into a laundry room, and then we can call for an appraiser and apply for a loan. Does anything see anything wrong with that? Any tips with what to include in the contract? I'm thinking we'd do the work at no cost to the seller, and we'd ensure a date we'd have the work done and when we'd at least have an appraiser booked. Also, I'm worried that by the time this is all said and done (<1 month) the value of the house will have dropped due to market decline. We really wouldn't mind paying above market value if we could, but there's a high probability the appraisal will come over than the offer we put in by the time we're done with it all, and I'm not confident we'd be able to make up the difference in cost. Does that make sense? Any suggestions on what we can do about that? I'm open to any suggestions! Thank you for your time! [link] [comments]  |
| Posted: 25 Sep 2020 11:56 PM PDT I gave my realtor an upper limit of 1.2 mil budget for new house. He tells me to look for house at 1 mil and keep 200k for bidding wars. Is it that bad in bay area? [link] [comments]  |
| Posted: 25 Sep 2020 03:45 PM PDT This listing is haunting me as I cannot figure out what the game is here. There are all kinds of fucky things going on besides the price, such as the property listing agent in the Home Details is not the current listing agent, the land is listed as 148 acres under Home Details, but 2.50 acres under Home Features. Is this just a super sloppy listing? Some sort of scheme to get prospective buyers to contact the agent? Could there be something so horrible about the land to make it unusable? Thanks in advance for any and all opinions! [link] [comments]  |
| single website for GIS info? (USA) Posted: 25 Sep 2020 05:03 PM PDT I've been trying to snatch up some land to invest in, but it's rather cumbersome trying to scope out a property when every parcel is in a different county, which uses a different website, and the link to their parcel map/search is hidden in a new and creative place every time. So, is there... like... one website I can use to see what a parcel looks like on a map, no matter the state or county? [link] [comments]  |
| Is anyone unsure about buying a house right now with the elections coming up? Posted: 25 Sep 2020 04:49 PM PDT Both sides seem extremely uncertain with an election coming up. Does anyone suggest waiting? My parents found a house for $75k (comps say it's worth $68k) they want to buy to rent out but they are uncertain because of the election. The house has been on the market for 40 days in a generally low demand area where a reasonable priced house takes around 30 days to sell. With the election 6 weeks away would you suggest putting in an offer? [link] [comments]  |
| Home buyer backed out - offered us 1 percent of deposit. What is my best course of action? (CA) Posted: 25 Sep 2020 06:58 PM PDT Hello, We sold our house and the buyer put a 3 percent deposit into escrow. The sale was a no contingency purchase and was not subject to any inspections etc. A week later, the buyer told us she wanted to back out because she was too stressed from the process and proposed to let us keep 1 percent of the deposit. Also, fyi, based on the price negotiation process, this buyer is not particularly logically or reasonable. Do you think this is a reasonable offer or do you think we are entitled to more? This is in bay area, california. Any thoughts and advice on best course of action for us are greatly appreciated! Cross posted in r/legaladvice [link] [comments]  |
| (US-FL) Chances of apartment rental prices dropping? Posted: 25 Sep 2020 06:46 PM PDT Apologies in advance if this is off-topic from the subreddit since this is more about renting than buying a house, but... So I live in Florida around Orlando area, whole city that used to thrive mostly of tourism. With COVID happening, majority of people were laid off or furloughed at the theme parks, or business slowed down, and I've noticed that a lot of part timers and seasonals were moving back outside of Orlando because there are very little jobs available to replace. I don't have an exact number of people that have left the city or are planning to, but if people leave the city, wouldn't apartments have trouble finding tenants and drive down the price as well? Obviously no one is going to be able to predict exactly what'll happen, but I feel like Orlando is a special case because of what drives this city. Personally I'm holding out until I get my job/pay grade back at my current apartment, and could afford my current rental rate, but I really feel like there's going to be a huge shakeup in the rental scene soon, especially if the moratorium ends at the end of the year. To keep everyone updated, our state governor announced a few days ago that they can't afford to pay unemployment "bonuses" anymore (no state tax) and today just opened to phase 3 - opening of gyms, 100% restaurants (discretion of the business owner) etc; although there are lots of small businesses that shut down for good during COVID which I'd figure would result in less number of jobs available for everyone at this time. [link] [comments]  |
| 22 Year Old with a Empty Plot of Land Posted: 25 Sep 2020 06:41 PM PDT Looking to buy a half acre piece of land in my neighborhood to rent out. Don't know what to put on it though. I imagine the cheapest thing would be to buy a used mobile home but maybe it would be better to save up more and build a duplex or multi family home and get more rent each month? Don't really know what I'm doing but I know I'd rather not take out a large loan and only put 20% down, maybe 40% or 50%. And is it the same process for construction loans as mortgage loans? Any guidance is appreciated :) [link] [comments]  |
| Posted: 25 Sep 2020 06:37 PM PDT Found the perfect location for me but unfortunately it has the same issue that everywhere else does, low supply and high demand. I visited a house about 2 months ago and even though it was updated really nicely, the weird layout threw me off and it would prob require an addition in the long run if i wanted to make it a forever house. Long story short, I felt that the house was over priced by about 50k (was asking 950k) and therefore i let it go. With it the past month, basically everything priced under 1 million (mid800s and above) has had a bidding war and is sold within 2 days of listing for 10-20% over listing...I've seen dumps listed for 825k and needing at least 300k of work go for 975k. Now i find myself running back to that house that i originally walked away from and trying to buy it for 950 (owner pulled it off the market but had told my agent he may still be willing to sell it if i met the original asking price). Am I being emotional and making a cliche mistake or is this emotional rollercoaster just a normal part of the house hunting journey? [link] [comments]  |
| Posted: 25 Sep 2020 04:05 PM PDT Has anyone here ever sold their house as a rent-to-own? What does that look like from a contract arrangement? [link] [comments]  |
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