Does anyone else feel depressed about the market? Real Estate |
- Does anyone else feel depressed about the market?
- People who bought $500k houses in the last months: what’s your household income and what do you do for a living?
- Is it better to overpay now while interest rates are low or wait until housing prices drop but interest rates climb?
- Today, we are first time homeowners.
- Is my agent for real? Can’t say “walk-in closet”? FFS��♀️
- Being bought out
- Home closed - Now seller wants to continue living in property to finish moving
- High Wildfire Area - California - Homeowners Insurance cost?
- LGI Homes Builder / Sales Office Interaction
- Should I get an inspection before buying a house I've lived in for four years?
- Where to store down payment while I wait out the current market?
- Listing agents, in your experience what have been the most common type of offers accepted on single family homes in the past year?
- What is the best way to approach selling a house in Croatia?
- Saint Joseph
- Fixer Upper vs Move-In Ready?
- Florida Real Estate Wholesaling!!!
- Sellers live next door
- I'm a Teen and Wants to Start Investing In Real Estate
- Help
- Waiting on my out-of-state new construction, should I rent nearby?
- Article: Homebuyers Squeezed As Western States See Prices Double Or More In Last Decade
- lawsuit post-sale
- Cash to mortgage...3 scenarios
| Does anyone else feel depressed about the market? Posted: 28 May 2021 05:28 PM PDT Like.. obsesses about it to the point of tears? I bought a condo nov 2019. Basically my parents said I couldn't take care of a home myself. It was fine and I wanted their support. I love my condo, it's single story, can't hear my neighbors, has a sweet atrium. But for the price I paid, I could've bought a four bedroom house in another city, or a smaller home in the historic wealthy central neighborhoods. Now in the past 1.5 years, I've been priced out of anywhere I'd remotely want to live. We are due with a baby in 2 months. I can't see us living here longer than 2 years max with a kid. I know this is nothing new, not a unique problem. I just feel so depressed I didn't buy a home then, and now feel I never may be able to afford one. I'm so jealous of my friends with homes, that bought years ago and pay next to nothing, or during covid with super low interest rates. I've actually tried to see a therapist, lol. It didn't go well. I think I need to unsubscribe from these subs, I'm not looking now but the regret and dread feels paralyzing. Thanks for giving me the space to vent. [link] [comments]  |
| Posted: 28 May 2021 06:50 AM PDT If you don't mind, please also share what area you live in. My husband and I were house shopping but got outbid each time. We didn't consider ourselves poor but now we think we might be. Would like to know who actually buys the kind of houses we were looking at. Perhaps we need to stop dreaming and/or lower our expectations…. [link] [comments]  |
| Posted: 29 May 2021 03:41 AM PDT I may get mixed answers here... but I'd like some feedback from people that are good with numbers. Is it better to overpay a little bit and buy now while interest rates are low OR wait it out until housing prices drop (if they do at all), but face the possibility of higher interest rates? I remember looking nearly 2 years ago when IR was higher but houses were prob 100k cheaper. My mortgage payments would have been roughly the same. My other worry is if we don't get into a house now, there's no telling when the market will change - if it does at all. There are so many buyers and I dont see that getting better any time soon. We have been going in at around 30k over asking. Thoughts? Also- our rent is 2450 a month...which is low for my area. We feel like we are already throwing away money that could better be invested in a house...of we get so lucky [link] [comments]  |
| Today, we are first time homeowners. Posted: 28 May 2021 08:19 AM PDT My husband and I are young...29 and 27. When we got married three years ago, we were moving out of a studio apartment here in Los Angeles. I am a first generation American, and today, we get the keys to our first home and we did it on our own. 2bd 2bth condo 1,316 sqft. SFHs in the area we purchased (hollywood) are 1.3+ The search - Offers we made: 5 - Fell out of escrow once before due to unwarrantable HOA - Looking since February The Offer - 5% down conventional loan - List price 600k, offered 630k and ended at 650k - Appraisal waived (Appraised at loan price) - Loan Contingency waived (we were credit approved and did underwriting beforehand, this helped a lot) - 8 day investigation contingency - 25 day escrow - We wrote the seller a very short letter (this is what did it, because there was another offer at the same price) I hated everything about this entire process and felt like it was impossible the whole time. Hard to believe it's really happening. We wanted to give up, but I suggest you all keep trying out there. This was so worth it. [link] [comments]  |
| Is my agent for real? Can’t say “walk-in closet”? FFS��♀️ Posted: 28 May 2021 11:33 PM PDT I typed up my listing description because the two sentences my agent strung together aren't going to cut it. I was aware edits would be possible. Agent responds back with "great, but due to fair housing regulations we have to make some changes". Okay, I can live with having to take out "step inside" and "short walk to" and even "master bedroom". Eye roll worthy but whatever. What I take issue with is his objection to walk-in closet. What the fuck else are you going to call it? Closets are either reach-in or step/walk-in. And when it comes to a master bedroom, a walk-in closet is desired over reach-in. When pressed on this issue agent acts like this could result in a fine. I have a hard time believing that. If there was an accepted substitute for the term walk-in closet, then okay. As far as I know there isn't. So what are you supposed to call it? [link] [comments]  |
| Posted: 28 May 2021 06:54 PM PDT My landlord contacted me about two weeks ago saying they were putting this house on the market. Within four days they had an offer. They want us out three months before the end of the lease. They also happen to be my employer. We are unable to find housing that meets our needs (we have animals) I'm really not trying to give my fur children away because some assholes ruined renting with pets for responsible pet owners. We have until the 23rd to hopefully find housing of some sort. It's not like our budget is low we can afford up to $2200 a month. There's 23 available rentals in a 100 mile radius and only 8 are pet friendly. I've applied to every one that I could even tried to throw more money at these landlords in hopes they'd say yes. We won't be homeless but we'll have to move very far out to stay with family in a cramped situation. I really didn't expect life to get this hard. [link] [comments]  |
| Home closed - Now seller wants to continue living in property to finish moving Posted: 28 May 2021 11:09 AM PDT The property closed today and the sellers are presenting me with a rent back agreement for 5 days additional. This was never discussed beforehand. The contract is for free occupancy. We had a little back and forth negotiation with the closing date. They wanted to close as early as possible. Since I couldn't provide a guarantee because of my lender, we wrote it into the contract as an optional closing date from the date they requested (today) up to June 4th. I had provided confirmation to my Realtor on Monday that the closing date would be today. The sellers are saying that they never knew this information and nobody told them closing would be this week. This seems strange. Anyone ever deal with anything like this? [link] [comments]  |
| High Wildfire Area - California - Homeowners Insurance cost? Posted: 28 May 2021 10:50 PM PDT I live in a high wildfire area of California. I hear horror stories of insurance companies cancelling homeowners insurance due to wildfire risks and people having to use the California FAIR plan and how expensive it is... So we are FTHB, only rented, never owned - how do I estimate how much homeowners insurance is going to cost me? I've attempted to get some quotes on random properties but no one ever gets back to me. Anyone live in a high wildfire area and can give me a ballpark figure? Looking at using a USDA 502 Direct Loan... pre-qualified for $415k but waiting on COE. [link] [comments]  |
| LGI Homes Builder / Sales Office Interaction Posted: 28 May 2021 04:26 PM PDT If you go on your own to look at these houses (LGI Homes) without a realtor, this somehow enters you into a binding policy that you can NOT use your own realtor. I did not even sign / give them my full name at the time. They refused to work with my own realtor the next day when they called LGI Homes to speak with a Sales Person. The Sales Person even hung up the phone on my realtor when questioned about why they will not work with her at all. I went back to speak with the Manager, who then produced a paper stating this but said I dont even have to sign this paper to agree to it since its their policy. The paper said TLDR that if you come to them and disclose how you found them, you can not use your own realtor. Its their policy to have their own party as the contracted realtor so that they get the kick back for using a realtor that is supposed to be in my interest yet wont even show up to read the contracts with me. I would be very wary when LGI Homes leaves this subdivision. They do not have your best interest and are just ready to sell you a home which is why they dont have realtors showing the houses. Just sales people. As a first time home buyer I would not want to buy a home from a builder that has such ridiculous policy. The Manager said if I would sell you that home with you using your realtor, he would get fired. They also record phone calls without consent. The manager pulled up his phone call system and showed every record of a call. Transcripts and voice recordings. He said he can do that because its Texas. Im not well versed in Texas law but because he even brought this up to threaten that he can fact check me seems a bit much. He wanted to fact check me if I said I had a realtor or not. TLDR; They wont let me use my own realtor because I did not disclose that information to them even though they did not ask. I simply said I wanted to walk through a house and get pricing. Never gave them any consent / my full name nor did I sign any documents. Edit: I removed the names of the Sales Person / Manager. Not sure if its allowed her to disclose it but still just sketchy business people. They dont seem to have your best interest. [link] [comments]  |
| Should I get an inspection before buying a house I've lived in for four years? Posted: 29 May 2021 04:16 AM PDT My landlord has agreed to sell me the house my family has lived in for the past four years. I already made clear I would buy the place as-is, but I'm wondering if I should have an inspector look at the place in case there are any deal-breaking problems. The thing is I've lived here long enough I don't believe there's anything seriously wrong with it. The house is very small (575 sf) and pretty simple. About half of it was built in 1925 and the other half, as far as I can deduce, was built in the 70s/80s. An electrical service change was done in 2019. The furnace and water heater were installed in 2018. The plumbing is copper/galvanized steel and the house is so close to the municipal sewer line that I can see about 80% of the sewer pipe in the crawlspace, which appears to be in good shape. There are a few cracks in the walls that haven't advanced since we moved in. The landlord told me there may be termite damage, and I can tell from marks on the outside of the house that a termite treatment was done at some point, but we've had upwards of 2 feet of snow on the roof and nothing's caved in. So again, I feel like I know the house pretty good and it's plenty livable. In any case I'm willing to undertake plenty of repairs given this is really our only option for a SFH within hours of our kids' grandparents and cousins. TIA. [link] [comments]  |
| Where to store down payment while I wait out the current market? Posted: 28 May 2021 04:17 PM PDT This is 50/50 a question that could be on r/stocks but I wanted to see what others here might be doing. I know some kind of high yield savings account is the usual advice but I'm okay taking slightly more risk... not going to put it all in GME but are there any semi stable ETFs? For context,
I'm in no rush to buy a home right now (I don't have kids, so I'm in no rush to get them into a specific school district for September). I'm planning to wait the current bubble out and buy either summer 2022 or sometime in 2023. My rent is cheap and is fixed. They actually just knocked $50 a month because they like me (it's an old guy who owns the building outright not a professional rental management company) At this point my annual rent is less than I would spend on interest/property taxes/insurance/repairs annually...so I'm okay renting until 2023 if I had to... I also may go travel around a year [link] [comments]  |
| Posted: 28 May 2021 05:19 PM PDT Conventional loan at x%, over listing by $y? Cash offer? Contingencies? [link] [comments]  |
| What is the best way to approach selling a house in Croatia? Posted: 29 May 2021 02:32 AM PDT We have a house in Rovinj, Croatia. Well built, good location and all the paperwork has been taken care of. Does anyone have suggestions for getting the most exposure for it to try to sell as fast as possible? Would making our own website to advertise it, using social media websites, or paying for advertisements in particular places do a lot of good? Maybe websites which are worth getting on? Any help would be greatly appreciated. [link] [comments]  |
| Posted: 28 May 2021 05:13 PM PDT Should I bury Saint Joseph in this market? House is going on sale in 2 months. [link] [comments]  |
| Posted: 28 May 2021 11:14 AM PDT Obviously, buying a fixer upper is going to be cheaper initially than buying something that is move-in ready with no work needed. However, if I'm going buy a fixer upper to live in long term (not to flip) and will spend money on renovations anyway, how much money does one typically save vs buying something with no work needed? My definition of fixer upper: cosmetic updates only ( i.e. kitchen and bathrooms) [link] [comments]  |
| Florida Real Estate Wholesaling!!! Posted: 29 May 2021 04:59 AM PDT Real Estate Wholesaling is one of the best ways to get into the real estate development and investment business. Many people don't have enough knowledge about real estate. That's why, we at Property Mob, have provided the article to solve real estate problems. This blog will explain what wholesaling housing means or give you some basic information about how to wholesale houses. If you want to become a real estate wholesaler, then this article will help you. [link] [comments]  |
| Posted: 28 May 2021 09:35 AM PDT I am under contract to buy a home. I just found out that last year the sellers moved next door. So if the deal closes I'll live next door to the people I bought the home from. The house had not been well maintained, and needs a new fence, roof, AC, heater, and has a bunch of minor problems. I am going to begin negotiations, but I'm worried that I will get off on the wrong foot with my potential next-door neighbor. Would love some thoughts. [link] [comments]  |
| I'm a Teen and Wants to Start Investing In Real Estate Posted: 28 May 2021 10:28 PM PDT Hi! I'm 16, turning 17 in about a month. I want to learn about real estate, but I just don't have much knowledge on it and might be too young. Is there a way I can start investing as a teen, and if not, how can I learn more about real estate, so that I can start investing when I'm older? [link] [comments]  |
| Posted: 28 May 2021 10:08 PM PDT Could somebody with experience give me an idea of what a good offer would be when we don't have the extra cash to close a huge appraisal gap.. We have the ability to offer more IF it appraises for more, but as for cash saved, we only have about 25 grand so that will just cover DP and closing with a bit of wiggle room depending on the final price.. We are able to do a 2 week close with our lender, but as for other perks or small things to set us apart I really have no clue how to make our offer stand out Background info: -we are in Northern California NOT in the Bay Area. -We were approved for 500k conventional loan. -25k savings (possible ability to borrow a bit more from family if absolutely necessary, probably about 10k) House we want to offer on is a vacant flip listed a bit under 400k Not sure of rough appraisal value, our agent hasn't run comps yet. Any advice or ideas for a sweeter offer? [link] [comments]  |
| Waiting on my out-of-state new construction, should I rent nearby? Posted: 28 May 2021 09:38 PM PDT Hey everyone, long time lurker but need some advice on waiting on a new build in a different state. I'm in the process of selling my Boston condo and currently waiting for construction to start on my new house in Georgia, should be ready by Thanksgiving. So far, the plan is that I'll temporarily move back home with my parent until the new house is done. I'm wondering if I should find a rental close to where my house is being built? Should I be in the vicinity to check-in on the overall construction, even though my new house comes with a 10 year warranty upon completion? My design center appointment is next week and I've only put down my earnest monies at this point, but I'm open to looking at a few rental during the trip if suggested. I've owned several properties and completed some renovations in the past. Its a new track development/addition to an existing gated community. A family friend lives nearby the construction site and might let me rent a room if needed. For context, Im moving because I really hate Boston winters and I'm 100% wfh thanks to COVID. No one in my family has dealt with a new build so any advice would be greatly appreciated. [link] [comments]  |
| Article: Homebuyers Squeezed As Western States See Prices Double Or More In Last Decade Posted: 28 May 2021 01:35 PM PDT Landlord offers to sell the house to a couple in Boise, Idaho, but they get priced out before they can quality. Gut-wrenching. [link] [comments]  |
| Posted: 28 May 2021 09:06 PM PDT just curious are lawsuits post sale a common thing ? I am fixing the house right now getting it ready for sale and i'm beginning to realize the previous owner just covered a ton of stuff up. Im literally going crazy trying to fix all this sh*t for the next person but also concerned im going to get sued over something dumb that wasn't even me to begin with. stuff like water damage under the carpet, he just taped and painted over a huge hole in the ceiling which i i just found today as i was scraping off the peeling paint due to him not using primer, subfloor uneven af, particle board glued over plywood, attic venting was a mess, according to the handyman nothing was done properly and now im paying for it. i'm cursing under my breath every moment while trying to fix this mess. friend said just leave it but i dont wanna get sued. [link] [comments]  |
| Cash to mortgage...3 scenarios Posted: 28 May 2021 02:41 PM PDT I am in the market for a house and with the market being so competitive, I have made an agreement with a family member to put up the cash for the house and I will turn around any pay them back through a mortgage. But what is the best way to do this? I do have VA loan benefits and I would be paying them interest for the temp loan preferably rolled into my mortgage. My thoughts are: 1. The family member buys the house in their name cash and after the closing, I turn around and purchase from them plus interest. I'm assuming they would pay capital gains on the interest made but with this option, we are paying for two closing costs.
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