Does it make sense for a single woman to buy a 4bed house? Real Estate |
- Does it make sense for a single woman to buy a 4bed house?
- Those who own million dollar home, how much is your household income ?
- Can a landlord force me to vacate my rental for showings?
- Murder, Suicide and a rental property lease
- Closed on House 2 months Ago - Buyers remorse turned into a good deal
- Hoarder's house?
- Real estate agents: are you guys seeing a market cool down with offers?
- When Sellers Minimize the Truth on their Disclosure
- I'm staying put. Anyone else?
- Are HOA clubhouses (non-condo/townhome communities) ever worth it?
- Need advice for buying tax lien propterties!
- Is the risk of being sued really worth 800$/yr for an LLC?
- What do you use to determine equity?
- Mortgage Application - Balance Transfers
- Selling and buying by August for new job -- Is it even possible??
- Selling Strategies
- Anybody out there contract for new construction in Dec/Jan, getting ready to close on their new build, and getting to list their existing house in this market? I want to hear your story and be happy for you.
- Paying down credit card during underwriting?
- Home Values At the Highest Ever
- Best website platform for Canadian Realtors?
- How to develop open plot of land?
- Can I buy a 12plex using a conventional loan if it sits on unrestricted land?
- why? local real estate agent hires local real estate agent to list home?!
- Bought a new house a littlenover a year ago and it had gained over 100k equity... any smart financial moves I can take?
| Does it make sense for a single woman to buy a 4bed house? Posted: 30 May 2021 09:46 PM PDT I am a single female in my thirties. Bucks County PA market. I have been looking for a SFH for a while now in the 375-425k price range. What I have seen is mostly older homes from the 60s, less than 1500sqft max, and generally nothing to get excited about. I also notice these homes tend to sell for a good 10-15% over list. Going up a bit higher in price, in the 470-500k price range, homes tend to sell for list price, and are a huge step up in quality, size, and are also more modern. I found a nice house built in 1991 for 470k. It is a 4bed house, in a good neighborhood on a good street in a good school district. It is well within my budget. I was thinking, why spend (and overbid) on an unexciting 2-3bed house in the 375-425k price, when I can spend a bit more (470k) and get something really nice? But now I feel silly to buy a house as a single woman. I don't plan on starting a family anytime soon, and I figure the cost of maintaining the house will be high. What will I do with 4 bedrooms? Still, I like it a lot, and as I mentioned once you cross into the 475k price range in my market, the quality takes a big jump up. It just seems I can spend an extra 50k on the house and get something nice, that I would be proud to live in, as opposed to an older, smaller starter home. But I feel dumb buying a 4bed as a single woman. [link] [comments]  |
| Those who own million dollar home, how much is your household income ? Posted: 30 May 2021 02:53 PM PDT |
| Can a landlord force me to vacate my rental for showings? Posted: 30 May 2021 09:03 AM PDT In Texas. I work from home and have been told to leave the property for showings, or she will evict me. Complete hostility out of left field aside, is this enforceable? I have been told that many things in my lease aren't enforceable, so I figured this one may not be as well. Here's the terms, in special provisions. What is enforceable here? Thank you for your time [link] [comments]  |
| Murder, Suicide and a rental property lease Posted: 30 May 2021 11:01 PM PDT Tldr; We signed a one year lease 8 days ago. Just found out today there was a grizzly murder/suicide that took place about two weeks before that. What are my options? First, let me say what an awfully sad event and I am so sorry to the families involved, and have a lot of empathy for the landlord who now needs to deal with this stigma. We have furiously been trying to find a rental property for about three months. In my market, as with many others, supply is limited, demand is high, and competition is prevalent. If you are not the first to apply and then quickly be ready to sign after your application has passed, you stand no chance. Needless to say, we were moving fast. A new listing appeared and I quickly called the contact, completed the application process that night and was ready to sign the next day. This was after several close, yet failed experiences with other properties, so we were relieved to be the first to contact and wanted to move extremely quickly to avoid losing yet another opportunity. We signed the lease, paid the security deposit shortly after. Today (8 days after signing), my mother called to inform me she had googled our address, and discovered it was the scene of a murder/suicide that took place roughly three weeks ago. Let me say - we also searched the property and didn't see anything on the first page of results. Note to self to dig a little deeper next time. I'm in a state, like most others, which doesn't require a landlord to disclose any stigma information unless it has an impact on structural damage. I am assuming carpets have been replaced, etc so no structural damage. Upon learning and informing my wife, I quickly realized it was not a possibility for us to continue to make plans to move into this property. With a lease signed, a security deposit paid, and no letter of the law broken, what are my options for broaching a severance of lease with this landlord? [link] [comments]  |
| Closed on House 2 months Ago - Buyers remorse turned into a good deal Posted: 30 May 2021 08:39 AM PDT I closed on a property about two months ago and ended up paying about 7% over listing as well as waving inspection. When I first closed on the property i felt a little bit of buyers remorse. This was my first real estate transaction and after making a few offers that weren't accepted started to worry about being priced out of the market. I was looking at some of the cheapest houses and some of the more desirable areas in my location. Ended up getting a house built in the mid 50s that needed some updates but was in a desirable location. For the first month or two after closing I would continue to follow the market and often times see other houses for the same price I paid that were more attractive than my house. Sometimes I would think I wish I would have bought this house instead of mine. Now I'm looking at what's on the market in my area and there isn't a single house in my area being Listed for what I paid. It looks like my hunch was actually true and I would have ended up getting priced out of my targeted market if my offer was never accepted. It's crazy how fast this market is swinging and all of the emotions that can come along with buying a house in this market. My buyers remorse has turned into getting a good deal. [link] [comments]  |
| Posted: 30 May 2021 03:34 PM PDT Does below description hint that this is a hoarders house or just too much stuff in general? The property is in need of heavy work, personal possessions in the house visually obstruct much of the interior and prevent complete access to the property. In its time... this house was the talk of the town, library with vaulted ceilings, fireplace and skylight; over-sized kitchen with center island, walk out to rear deck; family room with two story ceiling, floor to ceiling stone fireplace. Second floor offers four bedrooms, 2 full bathrooms, primary bedroom sitting room and loft overlooking the soaring family room. Exterior condition is good with recent siding repair/paint and the roof was recently replaced. Full basement is partially finished with recessed lights and drop ceiling. No interior photos as personal possessions distract imagery. Home being sold As-IS Listing: https://www.zillow.com/homedetails/30-Laurel-St-Morris-Plains-NJ-07950/39458268_zpid/ [link] [comments]  |
| Real estate agents: are you guys seeing a market cool down with offers? Posted: 30 May 2021 11:12 PM PDT I talked to one of my friends in NC and he said last month houses in his realty company were like 20-30. Now it's like 5-10? Is this true for you guys? [link] [comments]  |
| When Sellers Minimize the Truth on their Disclosure Posted: 30 May 2021 06:55 AM PDT So 10 days ago I moved into my new home. A few days later the town had a huge thunderstorm (with 5+ inches of rain). That storm resulted in my new finished basement flooding. I've probably got at least 30k worth of damage. And as most of you know home owners insurance doesn't cover sewer back-up unless you have a rider (which I do, but only for standard 10k). When the restoration crew pulled up the carpet they noted that the space had clearly flooded before. The sellers disclosure indicated that there had been some moisture but that the issue had been resolved. When I requested more information I was told it was a sump pump failure (which I know happens and is typically isolated). Apparently the sellers didn't fix the underlying issue has they claimed. The sump pump wasn't replaced, nor was it rerouted as every plumber I've talked to said it should have been. I've probably got 3-5k of plumbing work to prevent something similar happening in the future. I'll also note that one of the plumbing issues is something my home inspector should have caught. I just share this because I'm mostly frustrated that the sellers concealed the real issues. I may have purchased the home anyway, although not for the same price, and I would have had the plumbing issues corrected prior to moving in. I'm going to consult with a real estate attorney about potential next steps, but I suspect it's unlikely I'd win a case again the sellers and they don't have any money anyway. So I'm stuck. Obviously I'm heart broken that all my savings will be used to correct an issue that should have been more appropriately disclosed, especially when I was brutally honest in my own disclosure because I didn't want my buyers to face any nasty surprises upon move in. [link] [comments]  |
| Posted: 30 May 2021 11:46 AM PDT I'm a single mom with 4 kids living in a nice suburb of Saint Louis MO. My house has a little over 3000 sqft, 5 bedrooms, 3.5 baths, laundry units on all three levels, and a lot just over 0.25 of an acre. 3 of my kids still live at home and all are 14 years or older. When the market started going crazy, I admit I was interested. Kids not so much because they didn't want to change school, but that can be dealt with. I owe $239k on my house and lastest appraisal was for $411k. One year ago it appraised for $299k. Sounds great right? I thought so too, until I started trying to figure out where we would move too. All the places I could afford on my salary alone were in different school districts, crappy areas, or 1/3 of the space I have now. Ok, so I'll rent while I wait for the market to crash. It'll be right, but we can make it work. Nope! 3 bdrm apartments or houses to rent are just as much if not more than my current mortgage! UGH! Just not worth it. I'll stay here till the kids go off to college and then move. Heck maybe I'll leave Saint Louis altogether then. [link] [comments]  |
| Are HOA clubhouses (non-condo/townhome communities) ever worth it? Posted: 30 May 2021 06:59 PM PDT Seems fairly common for SFHs in the area to have a monthly HOA which cost is primarily driven by the cost to maintain a "clubhouse". Small pools, gyms, and rec centers, etc. While HOAs are typically not ideal, I'm not opposed to a few hundred dollars to support an association without a clubhouse. The idea of a clubhouse that I likely wouldn't use and likely increase in cost annually is something that typically deters me from looking at homes in that subdivision. Interested to hear experiences of those who've lived in this type of community. [link] [comments]  |
| Need advice for buying tax lien propterties! Posted: 30 May 2021 11:53 PM PDT I live in Houston with my family (wife and 3 kids) and we are looking to buy a house but in our low price range..... they get gobbled up instantly. I just found out about auctions on houses that ow previous delinquent taxes and want your advice. I first found a lot of properties on hctax.net, then found only some of those are auctioned each month and the auction list is on https://www.dailycourtreview.com. Every house I'm interested in bidding on I've looked up on zillow, har.com and google maps as well as checked out in person from the street and looked up any public records and liens on cclerk.hctx.net. I'm trying to do my due diligence here but am entirely new to this world and don't want to miss anything. So my questions are Other things of note, I'm a handyman, able to do somewhat complicated repair work including electrical and I've got friends who are certified who would be willing to help if a fixer upper was beyond my skill level so I'm not to worried about that. I've got 10k saved for a down payment on a house and am finding auction properties starting at 4-7k that appear to be really nice and are what I'm shooting for atm. Thanks for any advice yall can give! [link] [comments]  |
| Is the risk of being sued really worth 800$/yr for an LLC? Posted: 30 May 2021 02:19 PM PDT Considering adding umbrella coverage would cost a fraction of the franchise tax in California, does it really make sense to pay an extra 800/year per property for separate llcs? Is the risk of being sued for some freak accident that happens on one of your properties really worth all the expense of the llc? If you already have several million in insurance coverage, what could realistically happen that would blow through that amount, the entire value of your property and then spill over onto your remaining assets? Are there really bands of lawyers going around door to door creating fraudulent slip and fall claims? Any help on this would be appreciated. [link] [comments]  |
| What do you use to determine equity? Posted: 31 May 2021 03:25 AM PDT So I've seen a lot of posts on here of people saying their home has gained "x" amount of equity over the last year. Obviously the most official way of determining this is an appraisal, but what are you guys using to be accurate because there's no way everyone here is doing appraisals? Comps, Zillow, intuition? [link] [comments]  |
| Mortgage Application - Balance Transfers Posted: 31 May 2021 12:41 AM PDT I had a sudden job opportunity in my old town and I'm interested in buying a house. I have enough for my down payment in my savings account, but two weeks ago, I had used one of those Balance Transfer checks and deposited a large sum of money to consolidate my wife's credit cards. She is disabled from an incident 9 years ago and has carried her own debt so I've been chipping away at it. Even though I'm taking on her debt, my DTI will still be good and I have the down payment in my savings account. But I'm assuming cashing a large balance transfer check will reflect negatively on my loan based on some of the horror stories I've read here. I had intended to get a mortgage without her as co-borrower since she doesn't work and has her old debts. My question is whether or not I will need to explain a large deposit and payout to other credit cards if none of that money will be used in for the deposit and closing costs? I had read someone mention the LO being able to "back out that deposit" since it isn't needed for any of my costs for the mortgage. [link] [comments]  |
| Selling and buying by August for new job -- Is it even possible?? Posted: 30 May 2021 07:42 PM PDT Hello, r/realestate! Long time lurker on this sub and needing some advice. TLDR at the bottom. My husband received a job offer in Dayton, Ohio (about an hour and a half from where we live in Indiana) last week and they would like him to start full time in person mid-August. We currently own our home (purchased in 2017) in Indiana. We have a realtor here in Indiana and have the goal of putting our home on the market June 12th after we do some minor repairs and cleaning. We were first time homebuyers in 2017, so the process of selling and buying at the same time in this market is overwhelming since we know nothing about selling a house. We are not able to afford a downpayment on a new home without the cash from our current one selling. We were feeling ok initially thinking that we would sell our house quickly in mid-June, find something new in Ohio by the end of June and be moving in by late July/early August. But after reading on this sub that some people are looking for months and months and making dozens of rejected offers, my hope is dwindling. So far we have... found a realtor to sell our home in Indiana, reached out to a realtor in Ohio, scheduled a meeting to be pre-approval (I am hopeful that part won't be a problem, we have excellent credit and already have a home). Is this timeframe even possible? Do we not even bother to try in this market and just rent for awhile? The most important thing is that we have a place to live by August when my husband starts his new job. Any advice on our next steps or things I have missed would be incredibly appreciated!! Thank you!! TLDR: My husband and I need to sell our home and buy a new one by August. Is it even possible in this market? [link] [comments]  |
| Posted: 30 May 2021 05:48 PM PDT We are selling our home this week. Our Real Estate Agent has given us two strategies for selling. She has mentioned that the market is starting to cool down, meaning she isn't seeing 10-20 offers on homes anymore and instead is seeing 3-5 offers on homes. We live in semi-rural Utah and have a 3 bed 2.5 bath, 3000 sq. foot home on a 1/4 acre. Initially, she said we can probably list at $519,000, but she also presented another strategy: List at $500,000 so the house stands out as a "deal". She said if we do that, it's possible we could only get $500,000 out of it, but lots of people feel like they have to offer $20k more in order to get the house. I can see the benefit of both strategies, but I really don't want to sell for less than about $520k. What are your thoughts on these two strategies? [link] [comments]  |
| Posted: 30 May 2021 06:15 PM PDT Seems this would be a perfect scenario. Own an existing home. Contract for a new build when prices were still somewhat normal. New build just about ready now. Get to list current home in this much higher market. In short, contracted low and selling high. [link] [comments]  |
| Paying down credit card during underwriting? Posted: 30 May 2021 04:50 PM PDT Hello everyone, So some quick numbers. Credit card was 1500.00 balance when credit was pulled for pre approval 3 weeks ago. Since that pull I put 500.00 on that card for home inspection and 1200.00 for car insurance policy that is a package deal for my new home insurance. I will be receiving a pension payout check around 15k this upcoming week. I gave my mortgage lender a heads up on the airbnb charge. He said its not big deal and he doesn't plan to pull my credit again. He will just use the same one from 3 weeks ago. Just the usual don't open a new card or loan account. I guess to simplify my question ..Is it ok to make a big payment to knock down your credit car balance as long as you have proof of funds where the money came from? Thanks in advance [link] [comments]  |
| Home Values At the Highest Ever Posted: 30 May 2021 11:02 AM PDT I've lived in my home for 18 years. I shopped for a home for four years before that. Never, in all that time, have I seen home prices skyrocket like they are right now. With the right strategy, I'm thinking a home owner could make life significantly better for her or himself and their loved ones. But, I'm not one hundred percent sure. The question then: Should people in my area with significant equity built up, sell, move to a condo for rent or similar, and invest the profit in the market? It's like the market will never crater permanently (I mean it quickly rebounded after a year ago March), so investing in a broad portfolio seems like a good idea. Or isn't it? [link] [comments]  |
| Best website platform for Canadian Realtors? Posted: 31 May 2021 02:19 AM PDT Hey guys, I'm not a realtor but handle all the digital marketing for a small real estate team in Atlantic Canada. They are in desperate need of a new website. (Here is their current www.powerteam.ca) I am wondering what your experience is with using certain website builders/platforms? What's the best? Is it better to create it from scratch? Etc Also we are going to start doing a lot of email marketing so having landing pages that integrate will with that would be a bonus. Thank you! [link] [comments]  |
| How to develop open plot of land? Posted: 31 May 2021 02:03 AM PDT We have a 10 acre plot of land, that we intend to develop a family estate or ranch. Currently the land is undeveloped, and full of weeds / no fence etc. Location is in California. What is the typical path that one would take towards doing this? We would like to develop concepts for the 10 acres first (landscaping, driveway, etc). Due to current high construction costs, we anticipate that we will focus on landscaping first, where our family members can plant trees, setup irrigation etc first, while leaving space for the house later on. We vaguely understand that we need to hire an architect/home builder for the house. What is the profession who can help with landscaping and overall design? [link] [comments]  |
| Can I buy a 12plex using a conventional loan if it sits on unrestricted land? Posted: 31 May 2021 12:30 AM PDT I came across an unique property which has 12 units and the land is unrestricted, and my realtor said I can go either loan type (residential or commercial); depend on your lenders discretion. Has anyone heard of this before? I'm looking to owner-occupy the property while renting so that should allow me to do a 80% LTV. I'd like to avoid commercial if I can because I'd like to keep the monthly payments low longer. This will also be considered my primary residence since I don't own any other property. Also could you buy this as residential property and rent it the units after a year? If I told the lender all the properties will be occupied by me and my family but after a year decide to start renting, is that legitimate? I have a low DTI ratio so I can manage to pay the monthly payments and save on top of it until we can rent. [link] [comments]  |
| why? local real estate agent hires local real estate agent to list home?! Posted: 30 May 2021 01:11 PM PDT Great question that no one asked. :P - I am a real estate agent b/c California is stupid. I am not a Realtor. - Never listed a home for sale. Zero professional experience working on the seller-side of transactions. If anything, my empathy for the buy-side would put me at a disadvantage. I also don't know the "things to watch out for" on the sell-side, I've hundreds of anecdotes and experiences on the buy-side, but those aren't necessarily relevant. - Already at capacity w/ work, can't take time off of work to learn all the things to do it and do it right. This calculation might be different if I had vacation time to burn that was "use it or lose it" at some sort of W2 job. Even if rates were up, like they were in 2018... wouldn't change it, 2018 was my then-record year (if curious, my conclusion at this point is that rate movement is what makes us busy... rates down = refi refi refi refi. Rates up = fomo buy fomo buy fomo buy fomo buy. Rate stability, thinking back, is when it gets slow/boring around the office). - Not willing to take time away from family time to learn all the things to do it and do it right. This calculation might be different if I didn't love my family. Or if I was retired and could just make it my "old person putz about" hobby, instead of model trains, or shitposting Trump memes on facebook, or whatever other things retired people do. - Could also just throw it on zillow/craigslist with cell phone pics rocking iPhone filters and half ass it. I believe that will cost me more than 2.5% or 5% (my market is 5%, not 6%). People are emotional, the dumb little things do make a difference. I've had way too many clients get a slamming deal on a FSBO, or a listing with a listing agent that's clearly a part timer type (best ever was the 6000 ft 3/1.5 SFR... it was actually a triplex, 3 beds, 1.5 bathrooms... TIMES THREE! As a 3/1.5 single family home it was priced horribly, so my dude [who picked up on the sq ft oddity] was the only offer on the vacant ready-to-rent triplex, and this was in the SF Bay Area!) So there you have it. In answer to the occasional "should i get my license just to sell my house" questions. Boom, already have the license, but also have worked on several hundred real estate transactions (buy-side only, and not doing the Realtor stuff), and with that in mind: Nope, still doesn't make sense. If I had the license, but not those hundreds of transactions under my belt, I might have reached a different conclusion due to my inexperience/ignorance. [link] [comments]  |
| Posted: 30 May 2021 11:40 PM PDT Currently have a 30 year 2% loan, so re-fi is out of the question. Also, no pmi. Location: northern California. TIA for any info. [link] [comments]  |
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