tip: Never contact your home insurance unless you are ready to file a big claim for significant losses. Real Estate |
- tip: Never contact your home insurance unless you are ready to file a big claim for significant losses.
- Rates already at near 3.4
- Buying a home and Getting out
- If mortgage rates continue to increase should we expect house prices to start falling?
- (US) Interesting NYTimes article on the housing shortage
- First time homebuyer. Husband wants to wait keeps saying the market will “cool” down .
- I fired my mortgage broker today
- Should I try to lock my rate now at 3.25%?
- How and when to jump into real estate renting
- What’s it like having bedrooms on the main level?
- Redfin and Zillow estimate my home value to be different from one another by almost 250K (Redfin’s 1.1M vs Zillow’s 860K). Does anyone know why there is such a large gap between the two, and does this happen often?
- HELP!! (first time homebuyer, property line problem)
- Is it possible if I could take some equity from my home and use that as a down payment for a second/vacation home?
- In New York do you have to maintain a physical office to get and keep your Real Estate Brokers License?
- Offer accepted!! (Arizona)
- Was there a significant decrease in the amount of houses listed for sale in 2020 starting in April?
- Question about renters still living in my house
- Does my realtor suck or am I being harsh?
- I have some questions about escrow accounts and renting out a duplex
- Offered 50k Over Asking With No Intention of Paying That Much
- First time Buyer, Utility question
- Subdivision & building ADU vs Single family home
- Suggestion for 20yo
- Must read books before buying a property?
| Posted: 26 Feb 2021 01:42 PM PST If this type of post isn't allowed, mods will do as mods do. Anyway, I posted this in another subreddit in response to someone's questions and thought it deserved more visibility so.. Never contact your home insurance unless you are ready to file a big claim for significant losses. [link] [comments]  |
| Posted: 26 Feb 2021 08:57 AM PST Crazy fast run up https://www.foxbusiness.com/money/todays-mortgage-rates-february-26-2021 [link] [comments]  |
| Posted: 27 Feb 2021 03:19 AM PST Has anyone ever bought a house that they immediately regretted? Recently purchased a home for $215k and got taken for a ride by my realtor during the process. I was naïve. Every since I have lived in the home I regretted it and have convinced myself I need to get out. The neighborhood is not good and the house is far more to maintain than I expected. If I sell I may be out $50k between closing costs and the price I purchased it for and what I really will sell for (I was the only offer). I am wondering if anyone else has been in a similar situation and if they made a decision. I was rash getting into this house, but I know it may sound rash how much I want to get out. [link] [comments]  |
| If mortgage rates continue to increase should we expect house prices to start falling? Posted: 26 Feb 2021 10:03 AM PST Exactly as title states. I know demand is high but people's monthly payments now have just gone up with interest rates climbing....if this continues could this be the downtrend of house prices? [link] [comments]  |
| (US) Interesting NYTimes article on the housing shortage Posted: 26 Feb 2021 07:39 AM PST In an article titled: Where Have All the Houses Gone? they make some good points. One for example is people are not selling their homes to move into a nursing unit due to covid. They are also not interested in people walking through their home for the same reason. Also, an interesting data point they bring up with the split between housing prices and rents, where they are normally correlated, they are now going in opposite directions. They even delve into the potential of a housing bubble, one of this sub's favorite topics. [link] [comments]  |
| First time homebuyer. Husband wants to wait keeps saying the market will “cool” down . Posted: 26 Feb 2021 03:20 PM PST Hi! My husband keeps saying that houses prices always go down and he doesn't want to buy in this market. I keep explaining to him prices will continue to rise but he doesn't believe me says he doesn't want to pay a crazy amount right now .. he's comparing to years before. I'm looking for some help to explain to him that house prices are not going to be what they used to be ? We are located in ocean county nj if that helps. Thank you!! [link] [comments]  |
| I fired my mortgage broker today Posted: 26 Feb 2021 06:34 PM PST Just moved to Colorado Springs and this market is nuts. Houses are under contract in 72 hours or less, and selling for %10 over the already inflated asking prices. After 6 weeks of hotel living and being out bid on every house I'm tired. So me, not wanting to deal with that BS, decided to start shopping for land to build on. I found my ideal property. It's seriously amazing. 30+ acres 15 minutes outside town, and all utilities already installed on site. It's ready to build on. Did I mention 180 degree views of the Rockies? Now I want to do a construction loan where I finance the land purchase and construction together. USDA, FHA, and VA all have programs for this scenario, as well as banks themselves. I email my mortgage guy, explain it all. They don't respond for three days and only after my agent calls and gives them an earful. This shit bag tells me that "construction loans like that aren't really a thing", "construction materials costs are too high anyway", and "just stick to an existing home since that's the mortgage you're already pre-approved for". Fuck that guy. I found my dream property, I have plenty of cash for closing, etc, excellent credit, excellent income, did my research, ....... and that's his response? So, now that's said, which local lender here in Colorado Springs wants my business and is willing to work for it? [link] [comments]  |
| Should I try to lock my rate now at 3.25%? Posted: 26 Feb 2021 06:11 PM PST With rates going up, I'm getting pretty nervous. We're getting a new build but our house won't be ready until Aug/Sep. Our Loan Officer told us this: So yes, rates have gone up a bit. However, the expert predictions are saying that rates will stay a little higher for the next 3-5 weeks. And then once we hit Q2, we should see rates come back down. Maybe not to all time lows, but potentially high 2s low 3s again. So today the rate for your loan at par, meaning no cost to you, is 3.25% which on an extended lock would cost around $3,500 plus the .5% deposit. If youd like to look into this I am happy to. But there is a lot of confidence that rates should come back down. Do you think this information is accurate? [link] [comments]  |
| How and when to jump into real estate renting Posted: 27 Feb 2021 03:41 AM PST Context. I might be getting Guru overload on social media, but I am really wondering if renatls are such a great idea how do I get started on them and also when should I get started on them. I'm in MB, Canada Context I have 30 k in debt. Snowballing $1100 a month including minimums. Should be paid off in 2023 or 2024 7k credit cards 15k credit line 8 k student loans Household net income 60k 12K in RRSP I rent and pay 1058 a month all utilities included Planning on having a child travelling next year and coming back to work 2023 If I keep all things the way they are I can buy a house worth 300k a 20% down payment in 2026 using a TFSA that I'm saving in with a 40 Equity/ 10 real estate/ 50 bonds portfolio. I'm 37 and can retire with full pension at 60 so I have the layaway plan lined up. Now I want to think beyond that. The way I see it if it takes 10 years to get to independence the earliest I could get there is at 48. After talking to a few people they've said I need 14-18 doors to be fully independent. For those who have gotten into rentals or BRRRR how do I start and is it worth it? I'd probably subcontract. I am not handy. [link] [comments]  |
| What’s it like having bedrooms on the main level? Posted: 27 Feb 2021 02:36 AM PST We're looking at a house that has two of three bedrooms on the first floor, like same level as the living room, kitchen, so on. I've only ever lived in a house with upstairs bedrooms and it seems weird to me. Is it? Pros/cons? [link] [comments]  |
| Posted: 26 Feb 2021 09:49 PM PST |
| HELP!! (first time homebuyer, property line problem) Posted: 26 Feb 2021 05:45 PM PST Hey guys! so, im super stressed out about this. i bought my first house earlier this week (townhouse) and the fence is in a state of disrepair, rotted and falling over in places. I wanted to see where the property line is so I don't encroach when i build the new one, and when I checked with the tax assessors office I realized that the fence is built 20 feet away from where the property line actually is (majority of the neighbor's yard is actually my property). I am planning on handling the entire fence replacement and not asking them for a penny, or asking them to contribute anything, basically just planning to tell them that I am replacing the fence and taking back my property that I just bought. I have a surveyor coming out in a couple of days to have official documentation before I go and talk to the neighbors, but i am freaked out. has anyone dealt with something like this before? how would you handle this or react if you were told by your neighbor that your yard encroaches 20feet over the line? are most people understanding with things like this or am I going to get my car keyed? can something like this usually be settled fairly between neighbors or does it usually wind up in court? [link] [comments]  |
| Posted: 27 Feb 2021 01:01 AM PST Or is it better if I do a cash out refinance for the full purchase price of the second home? And pay that house off, to avoid additional costs. What are your guys thoughts? [link] [comments]  |
| Posted: 27 Feb 2021 12:54 AM PST In New York do you have to maintain a physical office to get and keep your Real Estate Brokers License? [link] [comments]  |
| Posted: 26 Feb 2021 04:52 AM PST I know this is such a cliche but I've seen so many people write about stressful experiences during their home search similar to mine, so I wanted to share some positive news.... Looking for almost 3 months. Hundreds if not thousands of houses viewed online. 30 toured in person. 6 offers. All outbid, either in offering price, cash vs finance, or time to close. All of the houses that we bid on were either a 10/10 for me and an 8 or 9 for my wife, a 10/10 for my wife and an 8/9 for me, or an 8/9 for both of us. 36 hours ago a house went on the market that appeared to be a 10/10 for both of us. We immediately went to go see it, within two hours of listing. It was absolutely perfect! We wrote the offer, wrote a letter to the sellers .... and last night the offer was accepted!!!!! We are now under contract. Maintain the hope, my friends! [link] [comments]  |
| Was there a significant decrease in the amount of houses listed for sale in 2020 starting in April? Posted: 26 Feb 2021 08:28 PM PST If so, are there any specific numbers on how much lower it was than expected and anyway to check this information for a specific region? Too be clear I'm looking for data like the first chart on this page, but for 2020 data [link] [comments]  |
| Question about renters still living in my house Posted: 26 Feb 2021 04:42 PM PST I am scheduling a closing date with my real-estate team. There is a family currently renting from my house and when I asked them during the inspection and asked the renter where she would be living afterwards and she responded they had no where to go. It's none of my business but what is is my mortgage payments. Legally do I have to agree to put down the closure money even though they still live there? With the COVID 19 renter protection waivers in place I am nervous that they won't be out by next week. [link] [comments]  |
| Does my realtor suck or am I being harsh? Posted: 26 Feb 2021 04:36 PM PST Found a beautiful condo I really wanted and made it clear to the realtor on our portal. 2-3 days pass and no showing was scheduled by her and then now it's pending a sale so it's already gone. I don't get quick responses and feel like I have to do a lot of the work? Is this normal or should I be expecting more. This market is stressing me out like crazy as a first time buyer and looking for some guidance. Edit: Funny replies in this thread from a bunch of agents upset I'm not doing their job for them. [link] [comments]  |
| I have some questions about escrow accounts and renting out a duplex Posted: 27 Feb 2021 12:04 AM PST How does an escrow account work, i know homeowners insurance and property taxes are paid through escrow, but is the mortgage payment too? do i deposit money into it every month? maybe this should be a seperate post, but i'm going to live in a double and rent the other unit. What are some suggestions for collecting rent. Should i open a separate account for rent money i collect, to keep better track of everything, or do most people just deposit it into their regular/personal account? [link] [comments]  |
| Offered 50k Over Asking With No Intention of Paying That Much Posted: 26 Feb 2021 07:11 AM PST We put our house on the market (outside of Seattle area) and we had an offer. 50k over asking, no home inspection, 10k in earnest money. We went ahead and accepted the offer. The home we are trying to buy is on a limited time frame so we didn't have much time to wait. It also has some major repairs that need to happen asap so the extra 50k would go directly to that. However we were told by our realtor that the offer price is most likely not going to happen. That after they get the appraisal done, they are going to talk us down to something closer to that price point. Then why offer the extra 50k if they aren't fully intending to pay it? They made a choice in offering that much over knowing it would get them to the top of our list. It just feels dishonest to do that. Is that a strategy being used by buyers? [link] [comments]  |
| First time Buyer, Utility question Posted: 26 Feb 2021 07:55 PM PST Hello, I am a first time homebuyer and due to close next Tuesday (3/2) after a long journey. I got distracted with some other personal things, and didn't submit the request for a new service early enough with the electricity company. The earliest they can start the service is 3/4, which is two days after my closing. I am assuming the seller will disconnect their service on the closing day. Does this mean the house will be without electricity for two days? Is it true that some utility companies have a grace period? I plan on to call the utility company on Monday but I am anxious.... Any experience with this? Thanks, all! [link] [comments]  |
| Subdivision & building ADU vs Single family home Posted: 26 Feb 2021 10:56 PM PST Hi everyone I live in Hayward, CA on a 14k lot - single family home. My house is 1400 sq ft; with a empty lot next door (approx 6500 sq ft). I checked with the city and I'm allowed to subdivide the property since the average around my area is 6400 sq ft. The empty lot is flat with great views if build multi story (Neighbors may have serious issues since it may block their view). I reached to couple of builders who gave me various quote to build the house for $320-$350 per sq ft price. Therefore a 2000 sq ft house max cost me roughly $640+k. My goal with this new property is to build and put it up for rent and let it pay off itself with the rental. Question: 1. Can you build ADU style home on an empty lot?
Thanks for reading and your response!! [link] [comments]  |
| Posted: 26 Feb 2021 10:41 PM PST Hi. I'll keep it brief and simple. I am 20 years old and have about 140k in liquid assets, about another 25k in stocks (TFSA, RRSP) and about 40k in business property (fairly liquid-able also) Yes, I know this is extremely above average, I was fortunate to turn a hobby into a business in a short time span which was been profitable (and continuous to be). I've also been very frugal my full life, started working at 15 and saved every dollar I've ever made. I still live at home, share vehicles with family and haven't ever had any serious expenses (except for university tuition) My question is, what is the best way to continue to grow this money? As of now, I am earning 1.6% at a credit union, however, I know a basic S&500 index will outperform this anyway. Should I consider rental property? Is this even possible for a 20 year old to do? Any other investment suggestions? [link] [comments]  |
| Must read books before buying a property? Posted: 26 Feb 2021 11:24 AM PST I'm 23 and keep dabbling with idea of buying a house and flipping it. Are there any must read books to educate myself on real estate that any of you recommend? Thanks for any response [link] [comments]  |
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