Relieved Real Estate |
- Relieved
- Unauthorized showing by my realtor after closing
- Private equity firms buying up single family houses
- New Home Owners-Having Serious Issues With Home-Need Advice
- Meet the open concept bathroom. When you want to poop for the whole world to see!
- Licking my wounds. No traction on offer in LA suburb.
- HELP! Buying a house and realtor charging us over $3,000 in “brokerage administration fees” after offer accepted.
- Dual Agency
- PNW Housing prices and competition for BUYERS
- Selling a Flip - Diary Day 4 (Chum in the Water)
- Do I have to disclose to the buyer?
- Hurts more than I thought!
- HELOC vs Home equity with possible raising rates into consideration
- Buying and Selling a House
- Writing your own offer...
- Selling Rental - Agent or not
- House hunting- feeling defeated
- If a resale home and a new home costs the same, why wouldn't you do a new build?
- How PropTech is Shaping the Future of Real Estate Industry?
- Tell me about your buying agent
- Anyone here in the DFW/Dallas real estate market?
- What in the world to do with insanely long closing with all sorts of problems?
- Start Real Estate Portfolio
- Applying for income restricted apartments? Nevada
- Conditional Approval
| Posted: 04 Mar 2021 07:06 PM PST Just wanted to say I am so relieved to make the decision to continue renting. Literally fuck this market. I don't care what anyone says, but I am not going to sell my soul by overpaying 50-100k+ and waive every contingency just so I can "not throw money away on rent." Fuck that. I'll rent. Not about timing the market, I am happy where I am. [link] [comments]  |
| Unauthorized showing by my realtor after closing Posted: 04 Mar 2021 04:37 PM PST So my sale closed last week and possession is next month. My realtor was authorized to come pick up some staging items (they still have a key). Agreed on date, I didn't really care what time. Happened to come home while realtor was there. There were two pairs of shoes at the door. Both people were in an empty room, with no staging items in it. Realtor acted weird and stood in the doorway and I couldn't see the other person. I left because it was uncomfortable and I was surprised. Hours later I inquired about it, and realtor apologized admitting they had someone interested in the building and decided to show them my home, even though the sale has already closed. Being a reasonable person... I'm not happy but also don't want to do anything that could impact my sale. Is this a big deal or with pursuing, or should I just move on? I wish the profession was a bit more professional given the amount of money involved... Update - thank you for the serious responses and also for the hilarity. Clearly my beloved soon-to-be-former home has been subject to acts of realtor depravity. Sex wasn't specifically forbidden in the listing contract. Lesson learned I guess. [link] [comments]  |
| Private equity firms buying up single family houses Posted: 04 Mar 2021 08:17 AM PST So, I read the other thread where someone was asking where all this cash is coming from in this tight housing market. Someone suggested it must be private equity firms like BlackRock and other REITs buying up single family houses. Google search returned couple of news about it from last year but I could not find any numbers. Do you guys think it is adding to the chaos of housing market now? Any official numbers and source you know? [link] [comments]  |
| New Home Owners-Having Serious Issues With Home-Need Advice Posted: 05 Mar 2021 02:51 AM PST First time posting, in need of some advice. My bf and I just bought our first home in late January and we've been having problems since the start. I'm unsure if it's just bad luck and we deal with it or if we need to take legal action. Note, this was a newly flipped home. When we first looked at the home I noticed two water stains, which apparently the seller knew about and was going to repair. (We should have run right here, I know). After inspection, nothing crazy came up but verified water had been coming in through the chimney into the master and in living room (they put drywall up to cover the exposed brick from chimney) Seller hired a guy who said to have fixed these issues along with a few other things. We can still visibly see the water damage on the walls and ceiling but it doesn't seem to be leaking. We had a bird stuck in the underneath of the microwave which was mounted above the stove, they didn't put the vent on so a bird flew in there (we had to replace that because the bird ruined it). Found more birds flying around, figured out the vents in basement weren't capped off so we capped them, no more birds. Also no door from basement to kitchen (asked seller to install one he declined). We found a hidden door under the deck which leads to the basement, but they put drywall up inside to cover the door to the outside. That door leaks water into the basement when it rains. The downspout is not properly attached on one part so rain goes right in front of that basement door, which leads to the flooding. We felt air coming in from a ceiling joint in the basement, turns out there was a water bottle shoved up there to block the air getting through because it opens up to the deck. Downstairs toilet leaked into basement because they installed the wrong size pipe (don't know exact term). Upstairs bathroom faucet leaked because wrong size pipe. 3 of the faucets in the house are backwards, hot is cold and cold is hot. The ceiling light by front door has no switch (have WiFi bulbs in now so we can control from phones and use the light). Light post on siding by back door, no light switch (WiFi bulb works) and has an non working Sony camera. Found out the Sony wires had just been cut (found them dangling under the deck by that door we found). Other light on deck and in back yard, no switch but replaced with WiFi bulbs. There were very large icicles on siding and hanging from soffit (which I read about and means more water damage). We needed a driveway bumper installed, seller paid for it and took measurements but gave wrong measurements and won't pay the difference so we are. I called the driveway company just to ask about what's going on and the rep told me seller apparently ran out of money and was cutting corners. I asked if she spoke to seller and she said no he's in another country, the sellers realtor told her that. Sorry for such a long post. I am extremely frustrated and have looked online but haven't found definitive answers. I've talked to our realtor and he's not much help. Any suggestions on where to go from here? [link] [comments]  |
| Meet the open concept bathroom. When you want to poop for the whole world to see! Posted: 05 Mar 2021 03:53 AM PST |
| Licking my wounds. No traction on offer in LA suburb. Posted: 04 Mar 2021 12:41 PM PST Placed a bid on a 3+2 SFR in a suburb of LA at a list price of 631k . Home is completely turnkey. Comps for similar properties (home sq. ft and lot size, year built etc.) range from the low side (614k) to high (655k). Comps are limited because, well, closed deals are limited. Offered $670,000, 20% down, waived appraisal and inspection contingency, and offered rent back for 30 days. I thought this was a solid offer. Well, I lost the bidding war. Listing agent says the winning bid was 720k, appraisal, inspection, and LOAN contingency waived + free 30 day rent back. I didn't want to go beyond 670k because I wouldn't be able to cover the appraisal shortfall if the appraisal came back on the low end. Apparently the buyer was willing to cover a potential 100k appraisal shortfall and had 25% to also cover the down. Blows my mind honestly. Then again, I'm just a middle class cog earning a decent salary. I don't know how to compete with some of these buyers. They're major league and I'm here playing tee-ball. Oh, and the listing agent mentioned that the winning bid wasn't the highest offer. Geez. [link] [comments]  |
| Posted: 05 Mar 2021 04:19 AM PST I just had an offer I put on a house accepted and upon getting the closing cost breakdown sheet from the mortgage company the brokerage firm is charging us and additional $3,000 for a "brokerage administration fee". I asked my agent what this was for and he advised it goes to the person at the brokerage who is finalizing all the paperwork for the house. Is this a complete scam? No one I talked to has ever had to pay such a fee when BUYING a house. Anything I can do to get out of paying this? This wasn't something i agreed to prior but really want this house. Any advise is helpful. Thank you. [link] [comments]  |
| Posted: 04 Mar 2021 04:17 PM PST Hi All, The laws surrounding dual agency differ state to state, so I can really only speak for my state (Washington), though I believe the ethics surrounding dual agency are pretty universal. Dual Agency refers to a sale in which one agent represents both seller and buyer. This typically happens when buyers come unrepresented and talk to the listing agent and ask to be represented by the listing agent. Many buyers believe that it gives them an advantage in price (in a seller's market it doesn't and really the price has already been agreed upon between listing agent and seller) or an advantage in their offer (the listing agent will push for their offer so that the agent can get both sides of the transaction). I've seen this conversation on this subreddit many times. I really dislike this practice as I think it's impossible to fully represent my seller and a buyer simultaneously. I have a listing right now and when buyers have reached out to me to ask me to represent them, I send them the name and number of a colleague (oh and I DO NOT accept a referral fee for this transaction, as that is still a competing interest.) I wish this practice were illegal in Washington state, but it's not, so my only recourse is to recommend to buyers that they get their own representation! Trying to use the listing agent will probably not be in your best interest and odds are you will end up with a different house anyway. I promise you that I am trying to get my sellers the very best offer for them. That doesn't necessarily mean the highest offer, unless that's what it means to them. My mom could be presenting an offer to me and I would still offer it objectively to my clients. Now, that being said - if all else is equal between a couple of offers and I've worked with one of the agents representing a client and had a good experience or a bad experience, I would certainly let my clients know my experiences. So if your agent seems like an A$$hole, it's possible you'd have a slight disadvantage if your offer was matching another. Anyway, that's really it - please get your own representation. I know there are some buyers here who are very experienced buyers (investors or what not) who absolutely will not do this and always go straight to the listing agent. That's your prerogative for sure, but just realize there are some agents where that will give you absolutely no advantage. Anyway, for all you buyers out there - keep on keeping on! It's a very, very difficult market and I feel for all of you! [link] [comments]  |
| PNW Housing prices and competition for BUYERS Posted: 05 Mar 2021 01:41 AM PST So I am considering buying a home in the very near future. It will be my first. The housing market here is insane. We are in suburbs of Seattle and the past few places we have viewed are receiving sometimes 20+ offers. Should we wait to find a home? Will it make a difference? I think prices have gone up dramatically recently for buyers and things are selling for 10% over asking. [link] [comments]  |
| Selling a Flip - Diary Day 4 (Chum in the Water) Posted: 04 Mar 2021 09:50 PM PST TL;DR I've flipped a house and now I'm selling it. Maybe I will make money. This is a diary of the process. Links to Day 1, Day 2, and Day 3. I put the house on local social media last night. It's not on the MLS, and it's not on Zillow or any of the other aggregator sites. My phone has gone into nuclear meltdown mode. It's like I'm selling water in the desert. One realtor messaged me within 30 minutes of the posting asking to see the house within 12 hours. When I told him no, he basically begged to be the first one to see it. Fair enough, he'll get to see it tomorrow. And it's been like that all day. Just constant text messages and phone calls. As of right now, I have seven showings scheduled, and I suspect tomorrow will bring at least half-a-dozen more. At this point, I'm wondering if I've made more work for myself than necessary. Should I have just done an open house if there's this much interest? I really don't like the idea of drawing a huge crowd into my nice, newly repaired and cleaned home, where upwards of 50% of the attendees would be looky-loos. But managing this many showings in a very short amount of time is a bit more than I bargained for. Obviously a good problem to have. Showings start tomorrow, so I'll let you know how they go! [link] [comments]  |
| Do I have to disclose to the buyer? Posted: 04 Mar 2021 05:58 PM PST My condo was put on the market last week with the listing stating "newer washer and dryer". I've had the machine for a few years and it works perfectly fine (did 3 loads of laundry in the past 4 days). All of a sudden this week, it started randomly beeping. Almost like it was taking itself out of standby mode when I wasn't using it). I've had a few showings (not sure if it beeped during any of them) and have an offer (7k above asking) from one person. I have not signed anything yet but they wanted an inspection quickly. I had an appliance handyman over today to figure the issue but of course it hadn't beeped all day so he couldn't tell where the issue was coming from. If it starts beeping again, should I say something to the buyer? I had been switching the fuse off when I wasn't actively using the machine. [link] [comments]  |
| Posted: 04 Mar 2021 04:58 PM PST We started yesterday and also put in our first offer. Suburbs outside Chicago. Within 24 hours of going up we visited a townhome and offered listing price at $210k with 10% down, conventional loan, and 1% earnest. Other nearby units recently went for less and had much more square footage. We then learned another offer was submitted recently. So we upped to 3% earnest ($6300) that same night and did an escalation clause up to $220k. I feel like I got cute with the escalation clause and that's why we missed out. Don't know what I'm doing tbh. It was a tiny townhome but the layout was perfect so just feeling down tonight. Ah well. [link] [comments]  |
| HELOC vs Home equity with possible raising rates into consideration Posted: 05 Mar 2021 12:52 AM PST With the talk of raising inflation and raising rates, is choosing Home Equity makes sense over HELOC if I need to pull money for expenses ? Majority of lenders offer HELOC as variable rate that follows Prime Rate. I see current prime rate is 3.25%. When does the Prime Rate change ? Does the recent talk of increasing rates also affect the Prime Rate ? OR if I choose HELOC, can I expect the variable rate to not jump too high in next 2 years (Ofcourse it's a guess but I would like to know an educated guess based on experience of folks in this sub) ? [link] [comments]  |
| Posted: 04 Mar 2021 06:40 PM PST We bought a house in 2016 for 528k. Like the house but don't love it. Different House is listed at 880k which is perfect. We could sell our house for 725-750k. What is the best way to go about this if we decide to go forward? Have about 100k in a bank but would love to use proceeds of the sale of our house to lower the monthly payment. [link] [comments]  |
| Posted: 05 Mar 2021 04:13 AM PST Hey there. A "dream house" of mine is going on the market in my neighborhood. I think the seller is doing a For Sale By Owner and does not want to deal with realtors or realtor fees so we are considering writing our own offer and looking for guidance on that. CONTEXT: My wife and I would like a larger house to accommodate our growing family, but we really love our location so we'd like to just move to another house in our neighborhood. Last summer, my wife and I put flyers in the mailboxes of the larger houses in our neighborhood. We got a few bites- one house we loved. It was more than big enough for us, well kept and had possibly the best yard in the neighborhood. There were a few issues but I think they have resolved them since. The owners said they wanted a very reasonable price for it and were hoping we could avoid going through a realtor. However, they got cold feet. They said they didn't want to house hunt during Covid. Completely understandable. We follow up a couple months ago. They said their minimum price is about 10% more than what it was last year. We're caught off guard but to be fair to them, it's in line with other homes in the neighborhood. My wife and I mull over this for a couple weeks and we reply saying we would like to negotiate with them. Their response is a flat "We're putting it on the market in 2 weeks." Well hell. I don't blame them for putting it on the market instead of selling to us directly. The market is bonkers around here right now. Houses sell in a day and at more than asking price. Based on what the owners have said in regards to realtors (i.e. they want to avoid fees), I think they will put it for sale by owner and would ignore offers from people using realtors (is it crazy to think this?) We still really want this house and we don't want to bring in our realtor unless we are sure we are going to use her. Is there any guidance or suggestions as to writing your own offer? I know it can be kinda thorny, I don't want to put in an escalation clause and end up paying half a million for this house or whatever... Alternatively, I have considered sending one more message asking them if there was a price that they'd sell to us right now...Once again this is more or less a dream home for us and I'm already expecting to pay a premium for it... [link] [comments]  |
| Posted: 04 Mar 2021 06:28 PM PST I have a rental property and have decided to sell with my current tenants moving out. I contacted a realtor, showed him the property and will get together with him on Saturday to hear his pitch. It's a 2BR / 2 Bath condo in a highly desirable complex. I had a tenant in another unit ask if I would rent to her. I showed her the unit and she was very interested but after thinking about it I decided I don't want to be a landlord anymore. Word travels fast in our little community and another resident called me and asked if I would sell to him. He's interested in it as an investment property. I have had great tenants but my husband passed last year and I need the cash. So I haven't signed anything with the realtor, I am thinking I'll meet and see what he says he could get for it. Should I say, I have two people who are interested and I'm going to see if I can close with them. If I don't I could then sign a contract. This would help with the 6% realtor fees, I could just hire lawyers to help with the contract and pay a title company to do the closing. Should I get another realtor in to get a 2nd opinion? There are currently no units for sale in the complex and when they're on the market they all sale quickly so this is not a heavy lift for an agent. Advice welcomed. Thanks [link] [comments]  |
| House hunting- feeling defeated Posted: 04 Mar 2021 07:10 PM PST We've been looking for a home for just over a month. 5 offers rejected so far. Not even sure how many homes we've seen at this point. Realtor is starting to act kind of annoyed when we ask her to go see something that comes up if we decide against putting in an offer. Which on the one hand i get because its probably a hassle. And if stuff wasn't moving so fast we've have actual time to drive by the property neighborhood first to see if we even want to look further. But we literally don't have that luxury. Like we saw a house today, great house. Awful location. But unfortunately the street view on Google didn't quite capture how bad the neighborhood is (for us). And it literally went pending like 3 hours after we saw it. I guess I'm just venting. We may just give it a month before going further. Maybe just passively look for now. Eviction moratorium is up in my state at the end of the month. So who knows, maybe some stuff will appear on the market towards the end of the month. As far as my realtor, we'll I guess we'll see if this relationship lasts long enough for us to find a home. Shes really been rubbing me the wrong way. Like i get how crazy it is out there, especially now. But this is the biggest purchase of my life, if I am going to overpay, its going to be on something I feel good about. I'll give her a pass for now. I think her Broker is breathing down their necks for sales. Which is shitty, cause inventory is trash Thanks for making it this far into my venting. Hopefully we find a place sooner rather then later. [link] [comments]  |
| If a resale home and a new home costs the same, why wouldn't you do a new build? Posted: 04 Mar 2021 01:36 PM PST So in my search in SoCal, I've noticed that there are some crappy homes that are listing for pretty high prices like 600k, 700k etc. Meaning the style is old, not much renovation done and looks like a home in the 90s. The prices are pretty comparable to what builders are charging for new builds. So why wouldn't someone just buy new instead of buying resale (unless they really need to live somewhere asap)? Here's an example of what I mean. https://www.lennar.com/new-homes/california/orange-county/lake-forest/serrano-summit What are the pros and cons? There must be some drawback that I'm missing. I've also read a lot of negative reviews online for this company and pretty much any builder. I don't know if that's just a vocal minority or a true representation. I know Lennar is the second biggest builder in the country so they should have decent enough product to get that big yet I see nothing but negative reviews about them. Also, what do you call these homes? They're not spec homes right? I'm not sure how to classify these homes where a builder buys a huge plot of land, develops a few variety of floorplans and allows customers to choose things like paint, flooring, countertop materials etc in a design center. What is the correct terminology? [link] [comments]  |
| How PropTech is Shaping the Future of Real Estate Industry? Posted: 05 Mar 2021 02:35 AM PST PropTech for Real Estate Industry [link] [comments]  |
| Tell me about your buying agent Posted: 04 Mar 2021 07:46 AM PST I'm curious what separates an ok buying agent from a great one. Do you have an awesome agent? What makes them so great? The reason I ask is because we are trying to figure out if our lack of luck is purely related to the insane market conditions right now or if our agent is partly to blame. We are in SoCal and understand that the crazy market is fueled by the low rates, lack of inventory, glut of buyers and Covid. We are not first time buyers and have purchased several homes in the past, but this is our first time in the West Coast market. We are currently renting. I recognize we haven't been looking that long. I found the realtor we are currently using at an open house about 2 years ago when we had just moved to the West Coast when we were only casually looking. We decided to rent longer after looking at a few houses and then Covid happened and well you know the rest. This agent followed up with me regularly while we sat out and engaged us again at the end of last year. We decided to start looking seriously at the beginning of this year and to give this agent a try (perfect timing with this nutso market...sarcastic chuckle). We gave the realtor a VERY short list of things we are looking for, the area we are looking in, and our max price. We started out with a list of deal breakers which we have significantly relaxed since we started looking seriously. We have looked at a bunch of houses and put in one serious offer so far (we were in the process of writing another when we found out our 30k over asking offer was going to be about 30-40k less than where the highest bidder was so we didn't submit). I have been religiously refreshing Zillow, Redfin, Realtor.com, Trulia etc. and have a ton of automated alerts from those sites because the access to the MLS that is provided by the realtor isn't great. I get no updates from the realtor's MLS. I have been pinging the realtor anytime I find anything coming soon or that meets our criteria to try to get an appointment scheduled. We don't get much (if anything) presented by the realtor to us. We also seem to be missing out on seeing places because they are "fully booked" (even when I literally saw a listing come up and asked to see it right away). Should the realtor be more proactive and doing more to help us find something or are we simply a victim of the current market conditions? Trying to decide if we should give this more time or move on to someone who is more aggressive. [link] [comments]  |
| Anyone here in the DFW/Dallas real estate market? Posted: 05 Mar 2021 12:44 AM PST |
| What in the world to do with insanely long closing with all sorts of problems? Posted: 04 Mar 2021 02:26 PM PST My wife and I put an offer on a house last August. A week before the closing date, we find out that the title was no longer clear. It had belonged to a woman who had died. Her son was the executor of the will. It went through probate nearly six months before he went to sell it without any problems. We discovered that a sibling was making a claim to proceeds from the sale. After a desperate round of phone calls (our lease was out on our apartment as we thought we were moving and they already had someone moving in two days after our set move-out date, our stuff was packed, movers ready, babysitter set up, etc), all parties involved agreed to let us move into the house under an amended contract until the lawyers figured out what to do. It has now been five months. We've been told each month and each new amended contract that it's almost done. Nearly every week, the realtor tells us that the seller and his realtor think it'll be just next week. My wife and I are beyond stressed about it all and just want it done already. The closing costs have gone up because we had to renew the loan, we can't do any repairs. We can't replace one of our cars that is on its last leg as it would impact my credit. Today was supposed to be it: the final closing date. Nope. Our lender has been more than patient. My wife and I have been honestly struggling with the stress of it. Our lender can't give us a set close amount, we don't know when we'll be able to replace our car or what will happen if our older cars die, and, really, it's been a mental strain. I'm a teacher and she stays home with our kids, so we don't have a ton of disposable income, and we haven't gotten our tax return (no reason to think we won't, but it's impossible not to worry). None of these problems alone is overly taxing, but, combined, we just feel like maybe fate or the universe or whatever is trying to tell us that this just isn't the house for us. We noticed water damage in the ceiling in the spare bedroom after the recent bout of bad weather and got the owner to agree to send someone out to look at the roof. The roofers said it needs to be replaced and had obvious hail damage (hasn't hailed here since we lived here, probably from a terrible hail storm more than a year ago) with shingles ready to blow right off. We told them it had been inspected during the standard inspection and found to be fine and that the inspector took a bunch of drone pictures of it. He never actually went onto the roof or up to the roof, but what do I know? Seemed legit to me. They did not agree. I'm not even sure what to do about this. Can we have the seller fix the roof? Do we even have grounds to walk away? Would we lose out on all that we've put into the close so far (only about $2000, but that's a fair chunk for us)? How did the inspector not catch the roof? Partly, this is to vent, but I also want to know what you, trained professionals, would do in our situation or how you would negotiate this out with the seller. We've had major communication problems with his realtor, and he lives across the country, so it's been a long and frustrating game of telephone. [link] [comments]  |
| Posted: 04 Mar 2021 06:12 PM PST Howdy, I live in San Antonio, TX and I've owned a piece of land for years. It's about half an acre, give or take. It was passed down to me since my father passed away. I have been wanting to build a home(s) on it for years since graduating HS. I'm currently getting my MBA so my funds have been limited with that but I am slowly saving up. My FICO credit score is outstanding with it sitting around 790-810. I know I need to gather at least 10%-20% upfront of whatever construction loan I decide to go with. I'm not sure if this is true or if it solely depends on the lender and how they operate. My question is, what should be the first things to look into besides a construction loan? I have no experience in real estate so any tips/suggestions would be appreciated. [link] [comments]  |
| Applying for income restricted apartments? Nevada Posted: 04 Mar 2021 11:44 PM PST So I just got accepted for an income restricted apartment. I make about $28,000 a year and the most I can make is $31,000. I just started delivering for UberEats on the side and I will probably end up making more than the max income by the end of the year. When my lease is over in 12 months, will I have to provide proof of income when renewing my lease? If I do, can I hide the fact I made money through UberEats? [link] [comments]  |
| Posted: 04 Mar 2021 07:55 PM PST Received an email an hour ago that stated we are officially in the "Conditional Approval stage" does this mean we can get at least semi-excited? What could potentially happen next? [link] [comments]  |
| You are subscribed to email updates from HomeOwners & Investors. To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
| Google, 1600 Amphitheatre Parkway, Mountain View, CA 94043, United States | |
No comments:
Post a Comment