What happens to the real estate industry once the eviction moratorium is lifted? (NYC) Real Estate |
- What happens to the real estate industry once the eviction moratorium is lifted? (NYC)
- I am looking into getting my real estate license to become a realtor after high school, what should I know beforehand?
- Hello Section 8 Landlords, Having difficulty renting out
- Is there any way to win a multi-offer situation with a VA loan?
- [Discussion/Theoretical Question] Condo market is suffering in the Bay, best or worst time to buy?
- In college rn thinking of getting a real estate license to fully understand the concept of real estate investing and hopefully make money. How would y’all recommend I go about this?
- Anyone with real estate economics and/or low income housing knowledge willing to do a very brief interview for my school project?
- Do skyscrapers ever fail financially?
- Graduated 1 year ago with no employment during gap, recently hired into newly formed family business, will my income qualify? (South Carolina)
- Wholesaler
- Can You Sell a House Prior to Moving In?
- How to choose a real estate broker for residential home sale [Seattle market]?
- Should I form an LLC?
- Buyers remorse - 150k over asking
- Closing Starts in 2 Minutes
- Do I need to tip the valet at my condo?
- Starting off my career as a realtor and I(26) dread working with my broker(37) everyday
- Can i afford 2m house?
- How to CO-invest in a 4plex via FHA
- Backing out of escrow
- Newly self employed but other jobs in same field/company on W-2
- DUI conviction and obtaining my license in CA
- Selling a house of deceased person.
- Is it worth it to start a brokerage as a solo agent?
- Gift for Realtor
| What happens to the real estate industry once the eviction moratorium is lifted? (NYC) Posted: 04 Jan 2021 09:03 AM PST Eventually the moratorium has to end and it did nothing to help people actually pay their rent. What happens when it ends, tons of people are evicted because they have no way of paying the back rent, and there is this massive increase in rental inventory? (I'm in NYC, but I don't think this is a unique issue here) [link] [comments]  |
| Posted: 05 Jan 2021 02:22 AM PST I'm thinking about getting my real estate license right after graduating high school. I've seen websites say it's great but I'd like to hear from people actually in the business. I was wondering if any realtors had any advice on the job and the licensing process. Also, about how long did it take for you to sell your first property after becoming a realtor? Thank you ! [link] [comments]  |
| Hello Section 8 Landlords, Having difficulty renting out Posted: 04 Jan 2021 11:54 PM PST Hi to all seasoned section 8 landlords. I'm having issue renting out my 3bd 2bt suburban unit. It's been in the market for over 3 months now, 2 years ago it would've been snatched up in 2 weeks. But now, I'm getting applicants that act all excited, sign the application and then disappear. Is the market right now in Los Angeles County over saturated with section 8 homes? How is it on your end? [link] [comments]  |
| Is there any way to win a multi-offer situation with a VA loan? Posted: 04 Jan 2021 07:28 PM PST Hi all, I've posted here before about using a VA loan for our home purchase in an extremely competitive market. My question is simple this time, and I'm hoping to hear from some RE agents and sellers: Is there any way to win a multi-offer situation with a VA loan in a competitive market? Are VA loan offers dead on arrival? We are offering over asking (but not so far over that it wouldn't appraise), 30-day close, no CC assistance, and offering to pay for VA-required repairs. I kind of just want to be put out of my misery at this point. We are saving for a conventional 5% down loan, but part of me wants to keep the hope alive so we can keep the cash in our pocket or leverage it for an appraisal gap. Thanks everyone for your help! [link] [comments]  |
| [Discussion/Theoretical Question] Condo market is suffering in the Bay, best or worst time to buy? Posted: 04 Jan 2021 08:46 PM PST Despite the fact that single family homes are selling left and right, far above asking, condos are not doing well in the Bay area. The condo industry seems to be tanking honestly, I'm seeing price drop by $20k every two weeks on some listings, only for the seller to give up and remove their listing altogether. In your opinion, would you say this is the best time to buy to take advantage of the crap market? Or should you wait and let the sellers stew more? [link] [comments]  |
| Posted: 05 Jan 2021 01:59 AM PST Thanks in advance for any recommendations, tips, and comments! [link] [comments]  |
| Posted: 04 Jan 2021 10:09 PM PST Basically what the title says. I am a 17 year old doing research on low income housing economics for my high school project. For this project I'd have to conduct a short interview (around 15 mins). I'd love to interview anyone but the requirements for my project are that the interviewee needs a degree in a related field or extensive experience in the field. Please PM or comment below if you'd be available for a quick interview via Zoom. [link] [comments]  |
| Do skyscrapers ever fail financially? Posted: 04 Jan 2021 10:21 PM PST I live in the Houston area. This past year a high rise office building was vacated after the oil company was gobbled up by another. (As one does in the oil biz, right?) The property that was their HQ is still very nice and well kept. I was driving by it this evening and wondering what the next tenant will be. Downtown Houston is full of skyscrapers with more being built every year. (And thanks in part to no zoning laws, we have several "skyline" clusters of buildings: downtown, "uptown"/Galleria, Texas Medical Center, Greenway Plaza, Energy Corridor/Memorial, Westchase, Greenspoint/"gunspoint") Such enormous projects certainly have a lot of big money investors backing them and are probably not looking for a quick payoff. Commercial construction can be somewhat risky I'd imagine, but do such projects ever fail financially? What does that foreclosure process look like if there aren't enough tenants to pay the bill? How would that work? Do those investors just not see the returns they expected then liquidate the property at a loss? So then the next owner has a go at it after purchasing at a lower cost before selling for a loss and on down the foodchain? What comes of old skyscrapers that are not architectural standouts/masterpieces (Like just a plain old glass/stone box? What does one do with a failed, plain vanilla skyscraper? Buying it as a teardown seems ungodly expensive unless your plot of land is pure gold (Manhattan or downtown Chicago). How often does that happen? [link] [comments]  |
| Posted: 04 Jan 2021 07:20 PM PST I graduated from university over a year ago during which time I had no employment. My father has just started up a new business in the last few days and wants to hire me on as an employee. I was wondering if this income will qualify for the mortgage application process and just how long I need to show proof of employment for. Will my offer letter and first paystub suffice? I obviously have nothing to show in my personal tax returns because I was a student. I also understand that the only stipulation lenders have is that I have 0% equity in the business or else it would be counted as self employment income. [link] [comments]  |
| Posted: 05 Jan 2021 03:29 AM PST If a wholesaler can't find a buyer how long can he hold on to that contract? Does it expire or something? [link] [comments]  |
| Can You Sell a House Prior to Moving In? Posted: 04 Jan 2021 05:30 PM PST We are building a home and I am having a ton of doubts and second thoughts. Do people ever sell a house just after closing and not move in? What are the drawbacks? [link] [comments]  |
| How to choose a real estate broker for residential home sale [Seattle market]? Posted: 04 Jan 2021 07:55 PM PST Planning to sell my Seattle area home this upcoming spring and I have basically zero real estate understanding/knowledge. I have asked around to friends and co-workers and now have a list of about a dozen recommended brokers (agents? IDK the dif). This house is NOT a million dollar Google/Amazon mansion, so a little worried most agents will not be super jazzed to take on the sale. 1) What things should I look for in narrowing down the list to maybe 3-4 to actually interview? 2) What questions should I ask those 3-4 I do interview? What am I looking for to narrow it down to the one I actually go with? 3) A couple of the references are from work acquaintances (not bosses or ppl I work with a lot) and are for mother-in-law or spouses - is it a bad idea to mix work with real estate or will I get better service? 4) A bunch are from a pretty large real estate company (Windermere) but probably 3-4 are small agencies. Any pros or cons of going with large vs. small? [link] [comments]  |
| Posted: 04 Jan 2021 03:54 PM PST Should I form an LLC for my rental property? I'll have a mortgage in name. If I do do an LLC should I have the house moved into it? [link] [comments]  |
| Buyers remorse - 150k over asking Posted: 04 Jan 2021 05:58 PM PST Hi, this may be a bit more of a rant than anything. My partner and I bought a house back in December and we close in a week. We live in a Canadian city that has a really hot market and pretty much everything goes over asking, sometimes 100-200k over asking. We were approved for a mortgage of 780 and ending up bidding 680k (with 20% down) on a house that was listed at 540. The house was completely redone top to bottom, landscaped backyard, brand new roof, furnace, AC, exterior, windows, and garage. 3 bedroom, 3.5 bathroom with finished basement however only 1400 sqft not including basement. i am in love with the house and i AM excited to move in and take possession however I cant shake the fact that we went 150k over the asking price. I am mortified to tell anyone who asks me which is why this is a throwaway account. Our realtor assured us that she thought it would go mid to high 6's and said they put the listing price low in order to generate interest. and apparently we won the bid (13 offers total) by 4k....not sure if she's being honest with us on that one lol. its an older established neighbourhood and a lot of the houses are dated so the comps are a bit harder to gauge since this one is so modernized, definitely one of the more expensive sales in the area and went over by a lot.. However it did appraise for 2k more than we paid lol. I don't know what Im looking for from this. I am hoping the market will keep going up and that this wont seem like such an insane offer to me in the future. If it was listed at 650 and we paid 680 I wouldn't be so hung up on it.. i just feel sick we went 150k over asking.. [link] [comments]  |
| Posted: 04 Jan 2021 11:01 AM PST In 2009 I came back from Japan and purchased my first duplex. In hindsight it wasn't the best investment for return, but it was a start. In one minute closing will begin and I'll pay off the mortgage and have a sizable proceeds check. This has been an amazing journey and I hope in the future I have the opportunity to do it again. [link] [comments]  |
| Do I need to tip the valet at my condo? Posted: 04 Jan 2021 03:12 PM PST I recently bought a condo in a hotel where can I only valet parking because we have no assigned spots. I already pay a pretty hefty association fee that partly goes to the hotel staff (security, concierge, valet for example) for building services. Do I still need to tip the valet? I'm guessing hotel guests would pay a tip, so I'm not sure if I need to as well. Has anybody lived in a building like this or know the proper etiquette? [link] [comments]  |
| Starting off my career as a realtor and I(26) dread working with my broker(37) everyday Posted: 05 Jan 2021 12:42 AM PST I started to work with this broker because he and I grew to become really close friends in such a short amount of time. I thought that he was actually going to teach me a lot of things in this business that I don't really know about. Which I have learned a lot, but I don't think he's sharing more with me than he said he would. I find myself being criticized for every little crucial thing that I do. Sometimes I describe a well kept lawn as "great curb appeal, with lush landscaping," to only be criticized that it's wording that should be used to describe selling a forest home. When I have seen that kind of word usage for homes in Los Angeles. He has been a big part of my life, helping me be therapist for my boyfriend and I. We have been so strong because of him helping mediate us two together. He's a very great communicator, and I try to learn that skillset from him. I've grown to be a lot more structural in my life, organized, more well-spoken. I'm afraid that if I leave to work for a different team, I would lose my therapist. But I'm starting to realize, maybe I can do this on my own without him as therapist for my relationship. And I need to find a better team to work with. He only offers me 50% commission, and sales has been relatively slow. I don't know if I have it good or not, but he does give me all the good leads to work with. However, I still don't get much activity from it. I started for about 2 months now, and I haven't been able to help anyone sell a single home. What should I do? Please help me.. [link] [comments]  |
| Posted: 05 Jan 2021 12:36 AM PST Would this push me beyond recommended dti? I've read mortgage payments should be between 25-35%? Unsure how to calculate this properly. Salary is around 400-450k conservative. Have about 900k liquid. 0 debt. Average about 3k in cc bills for food and misc. Take home is about 16k post tax, not including stocks. With stocks it's about 500-600k but don't want to rely on this. been preapproved for 2.5m+ @ 2.6% and now need to figure out what's within means. [link] [comments]  |
| How to CO-invest in a 4plex via FHA Posted: 04 Jan 2021 08:10 PM PST My friend is interested in acquiring a 4plex with a FHA loan. He offered me an opportunity to co-invest in the property. What is the best way to structure the mortgage and financing on this? Is this even possible through a FHA? [link] [comments]  |
| Posted: 04 Jan 2021 08:06 PM PST My husband and I are almost to closing on our first home sale (condo). I'm incredibly anxious that something may fall through since we'll also be moving into, what I consider, my dream home. Naturally, I want everything to go smoothly. Yesterday, our buyers signed away their contingencies and our agent said everything looks good and now we just gotta wait out the clock. So I'm curious... I understand if something goes wrong in our place that we have to disclose to them and they could back out. But what if something happens in the HOA? For instance what if another unit has a massive plumbing issue that the HOA has to pay for? Could they back out of escrow for that? Do we have to disclose something like that if it doesn't affect our unit? We're in California if that matters. My understanding is that after the contingency period very few people back out and if they do it's a costly move, but I'm so nervous and anxious that something is going to fall through that I might be overthinking things. [link] [comments]  |
| Newly self employed but other jobs in same field/company on W-2 Posted: 04 Jan 2021 11:45 PM PST Employed in software engineering in CA for the past 4 years with income ~116K from different sources, longest job averaging ~50K/yr over the past 4 years. Technically out of college for 1 year for computer science. 1.5ish years ago, started a new job that also pays around ~50-60K in the same field. Last month, started on contract with the same employer except on 1099 instead of W-2 (still have W-2 income on top of 1099). DTI is only very slightly above 50% with mortgage but lender is refusing to use 1099 income since I haven't technically been self employed for 2 years. Unfortunately, upping the down payment from 5% to 10% more than doubles what I have to bring to the table for closing. I see this as merely changing the way that I received a raise rather than W-2 the raise came in the form of 1099, I elected to be 1099 instead of W-2 since I'm on call for development operations. Is there any way to get a QM mortgage with an underwriting exception or is this a for-sure no go for lenders? It is the same company that I have both W-2 and the 1099 with via sole proprietorship but hasn't shown on a tax return yet. I have been with the same company for four years, and two others that make up a substantial portion of my income through self employment although I still have barely enough to be over 50% considering W-2 only. Thanks [link] [comments]  |
| DUI conviction and obtaining my license in CA Posted: 04 Jan 2021 06:24 PM PST Hello, Two years ago I was arrested for driving under the influence. This was my first ever run in with law enforcement and I have since had my case resolved and was convicted to 4 years informal summary probation. I'm currently a senior in college and enrolled in a real estate pre-licensing course. I'm worried that the DRE will turn down my license application once I've completed the necessary prerequisites. Does anyone have any knowledge on this subject? Any advice would be appreciated! [link] [comments]  |
| Selling a house of deceased person. Posted: 04 Jan 2021 06:19 PM PST Yes, I am going to talk to a title company and attorney. but for now, want to get some quick answers if anyone has any. I would appreciate it. Washington state. Client who I have worked with before, really nice folks, but simple people. They have inherited a house a couple of years ago and their son has been living there. It is a manufactured home, but on a lot so would be a straight sale. The husband has two siblings, but it is my understanding that they all agree that he shold have it. They never did any probate or anything like that. Just kind of sat on it. Must have been paying the taxes, or might need to pay off when selling, but no government action. They now want to sell. Still in mother's name. As far as they know, she has no other assets or debts. Do they need to get an attorney and fil probate? How does that work and how long would it take. Should it be sold by the estate, and proceeds distributed, or would they want to inherit the house, put it in his name, then sell? Do they need an attorney to do this? While not a legal issue, it does occur to me that if he takes the house and puts it in his name, then sells, that might go smoothly. If he sells as an estate, and hs cash in the esate to distribute, it might open the door to the siblings deciding they want a cut, even if they were to allow it to go to him as a house. Any thoughts or info would be appreciated. [link] [comments]  |
| Is it worth it to start a brokerage as a solo agent? Posted: 04 Jan 2021 09:52 PM PST Would it be beneficial for an agent to consider starting a solo brokerage? At what point would you consider this? And is the extra effort worth it for any savings on commissions? I'm about to take my licensing exam and become a part time realtor mainly to save on costs on my own family developments (about 10-20 or so properties in a given year valued at over $1mil+) while running another business. Would it be beneficial for someone in my position to consider this? [link] [comments]  |
| Posted: 04 Jan 2021 09:18 AM PST What is a reasonable gift for a realtor if they helped us purchase a home? The city's household income is $153K and the home sale price is $652K. [link] [comments]  |
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