Southern California - WE FINALLY CLOSED!!! Here's a list of data points with all the homes we toured, what we offered, and what they sold for. Real Estate |
- Southern California - WE FINALLY CLOSED!!! Here's a list of data points with all the homes we toured, what we offered, and what they sold for.
- Story Time: Friend won’t let go of sinking ship...
- How to deal with an emotional/eccentric seller?
- Talk to me about New Construction homes
- Seller decided to review a day sooner due to an expiring offer. We put in an offer and are waiting now. What are the chances seller already chose another offer?
- Mold inspection tomorrow—how can we make sure they are honest?
- In what scenarios do people purchase homes at ridiculous prices like $1, or $100? Have you heard of this?
- Seeking advice of landlords
- New agent! Need help, extremely nervous...
- Advice needed for offer on unlisted house
- What are some of the most impactful improvements you would like to see in real estate?
- Having doubts about buying land due to bubble
- I'm struggling on how to follow up with a lead that loves their home, but would 'list' for a certain price. How do I appropriately follow up with this person? I appreciate the advice in advanced.
- Want To Buy House I Am Currently Renting Through Property Management Company in Georgia
- Has anyone successfully gotten access to the MLS as a non agent?
- Austin Market
- HELOC Fraud or No?
- How to make sure land boundaries match the plans?
- What resource do you use to calculate the value of improvements when pricing residential real estate?
- Put in offer on a house, almost a week later
- Promote my listing
- Where in all my documents can I find the HOA resale certificate?
- Asked to be back up offer - am I overreacting?
- New Construction: Pros/Cons?
- Should I work with a buying agent who belongs to the same company as the seller agent
Posted: 31 Jan 2021 08:47 PM PST First thing's first: oh my lord we are so relieved. We toured essentially non stop for 3 months. We are in the Los Angeles area, one of the hottest of hot markets. I'll get into the details of the deal for the home we did go for, but for now here's an incomplete list of all the homes we toured for, and the prices they sold for. Note: There are several exceptions, but almost all the homes we toured were freshly listed. We toured these homes 1-5 days after they went live on the market. There are probably 5-7 homes we did tour but I couldn't find the coronavirus entry disclosures for in my email, so I won't list them. Something to note is that most of these homes we toured were fixers. Some were "turn key", and none were new construction, and almost all our offers had 5% down. But anyways, here's the list, offers are in bold: 10/25/2020 - Viewed duplex listed for $790,000. Was on market for over 100 days. Offered $750,000. Owner countered with the original price, $790 k, we moved on. It later sold for $780k about 50 days later. 11/1/2020 Viewed another duplex. Listed for $600,000. We offered $607,500. It sold for $640,000. 11/5/2020 Viewed single family home down the street from the second duplex. Listed for $658,000. We offered $705,000, plus $15,000 if appraisal came under $705,000. This was really frustrating, as we lost the offer, and 60+ days later it finally sold for $685,000. We're thinking the seller got greedy and chose a higher number offer, only for it to not appraise. 11/12/2020-11/13/2020 Viewed multiple homes: Home A: single family listed for $569,000. We offered $605,000. It sold later for $595,000 after over 2 months in escrow. We're thinking it came under appraisal because it had an unpermitted bathroom. Home was listed as a 2/2, but on paper was 2/1. Home B: Single family listed for $595,000. We didn't like this home so we didn't make an offer, it sold for $655,000. Home C: Single family listed for $516,900. Again, we decided not to make an offer on this home. It finally went pending after 90 days on market. Home D: Single family listed for $645,000. Decided not to make an offer. Sold for list price after 2 months on market. 11/14/2020 - Single family listed for $575,000. This was an open house with a line down the block. We decided to not make an offer for various reasons. Sold for $624,000. 11/15/2020 Viewed multiple homes: Home A: Single family listed for $550,000. We offered $605,000. We had a good shot on getting this property, but unfortunately the owner had a lien that they wouldn't be able to pay off even if they sold the home, and the house went off market. Home B: Single family listed for $559,000. We didn't make an offer. Sold for $601,00. 11/21/2020 Viewed multiple homes: Home A: Single family listed for $599,000. We didn't make an offer, sold for $605,000. Home B: Single family listed for $524,900. God awful "sold by Redfin" flip. Didn't make an offer, it sold for $586,000. 11/27/2020 Viewed multiple homes: Home A: Single family listed for $620,000. Didn't make an offer, sold for $635,000 after 2 months on market. Home B: Single family listed for $590,000. We didn't make an offer, but this one probably had some problems that came up under inspection. It entered and left escrow FIVE times. It finally sold a couple days ago for $625,000 after being on market for 2 months. As you can probably tell, we've toured a lot of homes by this point. We started getting into our groove and started figuring out what we liked, so more of the visits turned into offers 12/1/2020 - Single family listed for $565,000. We offered $575,000, it sold for $600,000. 12/3/2020 Viewed multiple homes: Home A: Single family home listed for $625,000. We offered $650,000. It sold for $675,000. Home B: Single family home listed for $580,000. We offered $605,000. It sold for $620,000. 12/8/2020 - Single family listed for $589,000. This home had good bones but I didn't make an offer on this home solely on the listing agents behavior. Answered basically none of our questions and had a terrible attitude. It's still on the market after 2 months. 12/12/2020 - Single family listed for $575,000. It was a great home, but it was on the intersection of two main streets. The noise outside was terrible. It's currently pending. 12/13/2020 viewed multiple homes: Home A: Single Family owned by Zillow listed for $638,000. This home had foundation damage and a weird layout. The home had sold just one month prior in November 2020 for $605,000. We didn't make an offer on it due to the problems listed, but it sold for $695,000. Shows you the insanity of this market. Home B: Single family listed for $750,000. This was a special one. The home was the top of our price range but we really liked the home. We offered exactly list price at $750,000, as they had just lowered the price by $25,000 from $775,000. The home was on the market for 2 weeks at this point. We thought we had a good chance, and the listing agent even gave us a counter offer. We sent another counter back, and we got ghosted… Our realtor kept following up, but the listing agent acted like we didn't exist or sent messages like "which offer were you again"? Completely unprofessional behavior, and on further investigation, the agent's parent company had been in several lawsuits for shady behavior. It eventually sold a month later for $775,000. Home C: Single family listed for $690,000. We were going to make an offer on this home, but it was taken off market. 12/14/2020: Single family listed for $700,000. We absolutely loved this home. Comps were really good, and we submitted an offer for $750,000 with 15k appraisal gap and <21 day closing window. Owners act like they don't care about this property? They're located out of state and took 2 weeks to review the offers. Our offer was rejected, but home is still on the market. 12/18/2020: Viewed multiple homes: Home A: Single family listed at 758,000. We thought it was overpriced (terrible flip), so we didn't make an offer. It went pending after a month. Home B: Really cute single family listed at 525,000. We thought the house was adorable, but unfortunately too small for our purposes. It went pending after a month. Home C: Single family listed for $585,000. We offered $605,000. Home sold for $600,000 and listing agent said they chose that offer because it had a 45% down payment. Wasn't even mad at that one. Home D: Single family listed for $738,888. We liked this home and offered the top of our range. 750k, 21 day closing, 15k appraisal gap. Didn't get it, sold for $790,000. Home F: Single family listed at $565,000. Offered $575,000. Sold for $595,000. Home G: single family listed at $688,888. We offered $720,000. It sold for $750,000. Home H: single family listed at $680,000. We offered $718,000. It went pending and fell out of escrow. It was relisted a couple days ago for $780,000. 12/22/2020 Viewed multiple homes: Home A: single family listed for $750,000. We offered $750,000 since it was the top of our range. It sold for $803,000. Home B: single family listed for $750,000. We offered $750,000 (top of our range), it sold for $800,000. Home C: Single family listed for $620,000. We offered $610,000 and after a bit of back and forth THIS IS THE HOME WE GOT OUR OFFER ACCEPTED ON!!! WHEW. What a roller coaster. So for context, that was 33 counted homes toured, but probably closer to 38-40. Offers: 17. Acceptance: 1. I believe all homes we toured went for over list price as you can calculate above. But here's a bit more detail on the sale we eventually got: The home we eventually got accepted had been on the market for a bit. The listing had terrible pictures, and you had to definitely needed to tour it to appreciate, but even then it needed a lot of work. We toured many fixers, and lost offers on those fixers, but a fixer in this area is kind of unusual. People have the money to buy newer/turn key. Thankfully we were ok with taking up the work, and were able to actually get some closing costs paid for. So for those who are in the similar journey as we are, redfin offers really nice filters where you can see homes that have been on the market for over X number of days. That's how we found this one. We're really excited to move into our new home, as the journey was really exhausting. Hope this thread was informative! [link] [comments] |
Story Time: Friend won’t let go of sinking ship... Posted: 31 Jan 2021 08:33 AM PST I've got a friend back home that bought a house that's over 100 years old. It was a sprawling home that was in need of some serious TLC. It sat on the market for several years with a ridiculous price. When my friend found it, he thought it was a diamond in the rough, since he had never owned a large home before. He liquidated his savings to buy (overpaid) this "dream home" and even took out a secondary loan for the renovations. He had very ambitious ideas of what this property could become, but it has all since gone to hell. From hiring cut-rate foreman's/ contractors that ended stealing piping and materials, to flat out not completing any of the work, which included adding central air. To add insult to injury, they discovered the workers even stole personal property. In addition to all of that drama, the house needed updated electrical, floors, shit pretty much everything needed updating. I knew he was in way over his head, but now things are much worse as we enter the second year of the pandemic. Aside from buying this money pit, he and his wife spent unnecessary funds on a fancy refrigerator with a touch screen and sleep number beds for all of the bedrooms. Mind you, this house is literally 6000 SQFT on 6 acres, with 8 bedrooms. The 8 bedroom thing really tripped me out as they have grown children. They can't even keep up with the lawn maintenance at this point. This has just been a disaster, to say the least. They are paying almost 4k a month on the loan(s), and have even missed several payments. When they first bought the home after looking at HGTV and thinking they were Chip and Joanna, they really under estimated this process. Well into their 60's they have really done a number on themselves and their credit. This dream home has now become a living nightmare. I'm pretty sure they're underwater and not able to sell to recoup all that they've put in. They blew through all of their savings and the house is still barely livable. In fact, they can't retire now due to not having any money. I share this story to encourage you not to buy more than you can afford. Also sometimes it's best to turn off HGTV and get real about what it takes to undertake these kind of projects. I'm not even sure what to say to them when they vent about being stuck and now broke. May this be a cautionary tale. Edit: Love the comments about it not being a Mc Mansion lol I stand corrected. I had no idea I'd been using the term incorrectly for years. I'm laughing at myself and the comments questioning my intelligence! lol Can't take life so seriously. At the end of the day, I strived to convey the heart of my message clearly. That's what matters most to me. [link] [comments] |
How to deal with an emotional/eccentric seller? Posted: 01 Feb 2021 05:23 AM PST I'm currently in a bind between a seller and I, where I have made an offer 5 days ago, they verbally accepted it 3 days ago, stopped showings of the house, but will not sign anything. When questioning why they haven't signed anything, responses like "we don't know where we are going to go". I've told them I can extend the closing date 2 1/2 months out to give them time to find somewhere to stay and move comfortably. The response to that was "I'm a spiritual being and need to feel out my family's future". I had no response to that one. Listing agent is confused, I'm losing my patience, and I need to get on with knowing whether or not they are going to sign because I'm losing chances to offer on any other homes in the area (homes where I live only stay on the market for an average of 3 days before going under contract). Should I give them a final date to sign, else I withdraw? Should I be patient? Has anyone else had a story of a seller like this they would like to share? [link] [comments] |
Talk to me about New Construction homes Posted: 01 Feb 2021 05:09 AM PST How are new construction home builds? I read an article the other day stating that homes built from 1900-1980s are elite and stand forever. While newer built homes are having a slew of maitenance issues 2-3 years down the line. As someone looking to buy a new build, does anyone have experience? Am I better off getting an older home and remodeling? [link] [comments] |
Posted: 31 Jan 2021 09:55 PM PST First time homeowner - My agent said there will be multiple offers regardless of the sooner review date. Can/will more offers be put in and can seller accept any offers coming in? Just waiting and it's driving me crazy. Seattle area - king county but further south. [link] [comments] |
Mold inspection tomorrow—how can we make sure they are honest? Posted: 31 Jan 2021 09:53 PM PST Hi all, this may be a bit niche but I need some mold/legal/renters advice. We are renting in Georgia, USA from a new building. My friend and I have been having breathing problems in our apartment, and mold seems to grow really quickly whenever we are a bit behind in cleaning. It grows in the toilet, shower, and sometimes even sink. I am a very clean person, but I have never lived somewhere before that mold would grow whenever I got behind. It clearly seems to be an issue with the apartment—perhaps the ventilation, or that mold is growing out of sight so appears more quickly. The mold became visible again in multiple locations after being away for the winter holidays, and we both noticed our breathing was worse upon returning. Our landlords have tried to discount us and convince us it's a number of other issues such as rust stains, hard water deposits, or "scum" from "being too dirty." I was raised on a property with a well, so I'm well-acquainted with different types of mineral deposits. It isn't. It's red and black mold, similar to what I saw when I was an RA helping residents manage mold problems in college. We managed to go over their heads and get the property manager to send a mold inspector tomorrow, but we are concerned that they may send someone who is also "on their side" just planning to discount us so that they can get out of liability for it. We have cleaned the visible mold off of surfaces in attempts to breath better, so the only visible mold is now on my shower curtain (which was too hard to clean) and one area that seems to be impossible to remove (maybe stuck in a hard water deposit). Being that there is not much visible mold right now, how can we advocate for ourselves that this problem is real, and what are they likely to say to discount it? Can we insist upon other tests if they claim there's "not enough" or it "isn't mold"? Is there anything minor we could do (such as keeping that doors to those rooms closed to trap mold spores until tomorrow) to make sure the tests are as accurate as possible? Thank you in advance for any advice you can provide. [link] [comments] |
Posted: 01 Feb 2021 12:41 AM PST Mother in law was sharing a story about how a home in her city a few years ago sold for something unbelievable like $10 dollars. How does a home sell for something astronomically low & what is the catch?? This is a MCOL city. [link] [comments] |
Posted: 01 Feb 2021 12:39 AM PST This may sound weird but oh .. I am seeking advice of landlords. Please delete if not allowed! So about 5 years ago, I had a friend who lived with her mother that rented a home and I loved it! I now have a fiancé, a child and a baby on the way and I was wondering if it would be weird to reach out to the home owner about considering me as a renter.. The home is still owned by the same owner and it is NOT currently available for rent.. that I know of! I know the owners name, and from what the old friends mom could tell me, he's a nice reasonable older man. Do I get in contact somehow and offer a rental application for the day it becomes vacant? A waitlist that doesn't for sure exist? The current occupants could possibly not vacate for years...but if it's within the next year, I would like to a first consideration, if possible! If this wouldn't be so odd to reach out to him, how would I go about wording it? Lol thanks for any input. [link] [comments] |
New agent! Need help, extremely nervous... Posted: 31 Jan 2021 08:48 PM PST Ok so I'm actually making this post for my girlfriend who is a new agent. She just joined coldwell 3 months ago and just got her first lead. She has a "mentor" but really doesn't know her well and receives little to no help or advice from her so I'm coming to you guys for some help. She's incredibly nervous and stressed about this whole process. She's meeting with the new buyers next week and is trying to prepare herself to what questions they may have, what information she can have ready, what questions she can ask them, ect. She has no one to turn to for help... With everything that's going on atm she's kinda of freaking out and I'm doing all I can to help her. She's frustrated that this so called mentor hasn't done anything to help her. I'm really hoping someone can reach out with insight, help, guidance, anything that can help her out in preparing for this meeting. Please feel free to DM me if you'd like to give her a call. I greatly appreciate anyone that can help out. I'm trying to do what I can to help but I'm not an agent obviously so there's only so much I can do. Thank you in advance [link] [comments] |
Advice needed for offer on unlisted house Posted: 01 Feb 2021 12:21 AM PST Hi, I need some advice from more experienced and potentially wiser people than me. My wife would like us to buy a house in the neighborhood we currently live in despite us not loving the architecture/designs of most of the homes here. Many of her family and friends live nearby so it makes sense for us to be here. Very few houses that we could see ourselves living in come up for sale so we decided to approach a homeowner and let him know that we would like to buy his house through a private sale (i.e. no broker). He was really enthusiastic and gave us a tour and everything was going well. I had an appraisal done on the home, which came in around where I thought it would. Still, I offered 10% higher than the appraisal value when we finally made our offer as a starting point, only for the homeowner to react extremely rudely and almost hang up on me. The house is smaller than most in the area and is not in the best condition so I'm not sure where we went wrong. I was ready to overpay by 20% over the appraisal but now I'm not so sure that the homeowner will even take another call. He kept saying that he didn't care about what an appraiser thinks or what the fair market value is. Do we just move on? The house had some unique characteristics (corner lot, unobstructed view), which were really important to me. I'm a first-time home buyer. Budget/financing isn't a concern but I don't want to do something irrational. Need advice. [link] [comments] |
What are some of the most impactful improvements you would like to see in real estate? Posted: 31 Jan 2021 08:32 PM PST |
Having doubts about buying land due to bubble Posted: 01 Feb 2021 12:14 AM PST Hello all! So just a quick backstory, my family is close on buying a land in California and building a house on it and flipping it and they feel like they got a good idea of all the capital required for construction, utilities, permits, etc... The only thing scaring them right now is the bubble and the events from 2008. Of course, the stock market has seen some insane highs recently, but at the same time if you watching the news its very volatile and we are already seeing effects of the GME stock having effect on the rest of the market, so this of course is not helping my family feel too confident about things. Also with Biden signing off on these new checks and his overall plan where the government is printing tons of money its something to think about as well. However they do realize that interests are still low. Someone who has 20k income can't get a 450k loan which was what was happening before the 08 collapse so that's a good thing. Another good thing is that their is an insane demand for houses right now. People have the money required but the houses are in short supply. Again not the same as events leading up to 08. Please let me be clear one more time, they are not having doubts about the land or the process of building the house and selling it, but only afraid of a collapse similar to 08 where people getting laid off left and right. So with that in mind, what are your guys' overall outlook on things? Has the stock market kinda been "scaring" you, or whats your thoughts for someone looking to get into real estate?? Should they hold off for a few months for the stock market to cool down (still have a month before starting construction on the land)? Thanks yall! [link] [comments] |
Posted: 31 Jan 2021 11:57 PM PST I think I may not be posting on the right page... But I would love to get your guys help and feedback. I've been working in this field for about 3 months now. It's really not the easiest field, I have to admit. Everyone would be doing it if it was that easy, like people say on here. After 3 months, I still find myself not knowing how to appropriately follow up with client sometimes. I haven't really had much client activity going on that's solid. However, I ran into someone this weekend on my prospect list that says they love their home, after an extensive kitchen remodel. I sent her a text on how much her home is worth after doing a CMA. It's been a couple of days since the initial engagement. I find myself not knowing what's the best way to follow up with this lady. Can you guys provide me some advice on what's the best way to approach this lady? She said she would list her house for a certain price if she decides to list, but she does love her "phenomenal" kitchen"? Thank you in advance guys! [link] [comments] |
Want To Buy House I Am Currently Renting Through Property Management Company in Georgia Posted: 31 Jan 2021 03:23 PM PST We've been renting the property through a property management company for several years. Our financial situation has changed and we'd like to buy a house, but really don't want to move and would be very interested in buying the one we're in. Does anyone have any experience with this? Should we be reaching out to the property management company directly or would it be best to reach out to the owner of the house? [link] [comments] |
Has anyone successfully gotten access to the MLS as a non agent? Posted: 31 Jan 2021 04:53 PM PST |
Posted: 31 Jan 2021 07:04 PM PST I got an email from my RA saying the following: Austin is now the nation's hottest housing market and bidding wars are driving up prices! In my area homes have been going up 20% year over year for at least the past three years. We barely were able to buy in last year and now I just feel bad for anyone else trying. My zip code only has 5 houses for sale and all over a million! I keep thinking this is a bubble and yet.... how is this pricing growth sustainable? [link] [comments] |
Posted: 31 Jan 2021 06:50 PM PST I'm in the middle of refinancing my primary mortgage on my home. The underwriter came back saying they need to do a subordination on my active home equity loan. But they can't. Because the bank holding my active home equity loan never registered the loan with the county. So now I'm at a crossroads. It sounds like there's no way the HELOC bank can get the second loan registered with the county in time for me to close on my primary loan refinance by the deadline. I'm probably stuck having to just close the HELOC out. Luckily I never used it. And even then I may still have to start the mortgage application process over again. Is this common for a bank to open a Home equity loan with a client and never register the thing? It feels crooked. Thanks [link] [comments] |
How to make sure land boundaries match the plans? Posted: 31 Jan 2021 10:35 PM PST Hi, I recently inspected a house which I liked but got confused on how to know the land boundaries. See image here: https://ibb.co/xDv4Shp This is the image shows the piece of land in-between the property I inspected on the right and the neighbour property on left. It looks like neighbour has pushed their fence a bit into the land of the other property? or maybe the neighbour building is a bit shifted to the left? Agent assured me that everything is fine, but I am not %100 sure. [link] [comments] |
Posted: 31 Jan 2021 10:28 PM PST |
Put in offer on a house, almost a week later Posted: 31 Jan 2021 02:46 PM PST Hi all, I put in an offer on a house (280K, home listed at 279K) last Monday Jan 25th, waited until Friday to hear back that someone put in 285K and gave us a chance to counter their offer to which we did at 292500, then told they were going to continue showings throughout the weekend. Maybe I'm just impatient, but is it normal to be waiting this long? At this point I'm ready to say screw this house and keep on looking. What would you guys do? [link] [comments] |
Posted: 31 Jan 2021 09:30 PM PST Hi everybody, hope everyone is having a good day. I am an overseas investor, i have a question hoping to find an answer. I listed four lots for sale through my agent, the question is : can i do something to boost the listing? like using zillow or realtor for example to give priority for my listing ( paid of course), or any other sites. Thanks and sorry for my poor english. [link] [comments] |
Where in all my documents can I find the HOA resale certificate? Posted: 31 Jan 2021 05:44 PM PST I bought an hoa condo and know that they must have provided it since the sale went through but I don't see anything in my docs. Is this something the title company keeps? My railing is hoa maintained and completely loose but they are denying repairs saying the previous owners had violations of plants on the balcony and constant water run off that is now the reason for the railing. I also know for a fact that the condo was empty for at least 6 months prior to my sale. It seems unreasonable they are citing this as the reason. Especially because it's an open pergola balcony. [link] [comments] |
Asked to be back up offer - am I overreacting? Posted: 31 Jan 2021 03:25 PM PST We just lost out on a house in the Denver area. There were 10 total offers and it came down to us and another. Listed for 625k, offered 685k and up to 710k with escalation. We lost to another offer that obviously bid lower, but had no cap on their escalation and would beat any offer by 10k. So it sold for 695k because the sellers are "good people" and don't want to price gouge. The listing agent comes back and says they want us to put in a back up offer, but I find this pretty audacious. We had the best offer but the sellers didn't want to make the other offer go up to 720k for the house with our escalation, and I think that's bullshit. I get it, I'm taking this personal but the sellers want to eat their cake and have it too. If they were "good people" they would have selected our offer but they decided to squeeze out 10k more. Our offers were otherwise identical. My fiance is adamant about putting in a back up but I could not give two shits. I know they'll just ask the next offer in line but it's a matter of principle. Am I overreacting? [link] [comments] |
Posted: 31 Jan 2021 12:22 PM PST We are first time home buyers in Oregon and are attracted to New Construction homes but cant find concise answers when it comes to the pros and cons. Looking for personal stories. Are they too good to be true?? What should we be aware of? Are there red flags (or green ones) that we should look out for? Context: We are looking at new construction homes in our area and found a few listed around 310k but they are already sold. We have 80k for down payment and closing costs. Inventory is lowish in our area and new properties go into contingency status within a week. No rush to move necessarily (month to month rent) but we did get preapproved for a conventional 350k mortgage two weeks ago. Hoping you can convince us to get a new construction home or convince us not to! [link] [comments] |
Should I work with a buying agent who belongs to the same company as the seller agent Posted: 31 Jan 2021 05:08 PM PST For example, buying agent happens to be a former neighbor. We got along very well. Would not say she is a friend, but we are definitely friendly. She works for x real estate company that happens to put up the listings for many of the homes I have been interested in. [link] [comments] |
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