sold for $360k in Feb, relisted in March for $475k, sold yesterday for $675k. Fun times!! Real Estate |
- sold for $360k in Feb, relisted in March for $475k, sold yesterday for $675k. Fun times!!
- Who the heck are all these people with so much money everywhere buying all the houses?
- Any Sellers Encountering This?
- If you’re a millennial did you get parental/family help to purchase a home?
- Is it possible to rent an apartment with a partner who has a prior eviction from 6 years ago
- Clayton Home Process?
- House sold at tax appraisal rate rather than market rate?
- Help! Home buyer lost their job less than a week before closing - what should they do?
- Would you even entertain buying the house?
- Sell or rent?
- Standard Practice to Waive Appraisal Contingency for New Builds?
- Buyers and Sellers what do you want most from your Realtor?
- Level Up for Small Landlord
- Modular homes Long Island
- What do you think will happen after the June 30th rent moratorium?
- Communication
- "Getting rid" of PMI - making monthly payments lower- Please help FTHB here!
- Recast or invest?
- (US) Have land prices rose over the past few years at the same rate as house prices? Or are the two largely unrelated?
- Offer
- Buying FSBO, lawyer, broker or agent?
- Subject to financing time frame
- What are reasonable repair request?
- Adding a BR always a good idea? (not adding SQ ft though)
| sold for $360k in Feb, relisted in March for $475k, sold yesterday for $675k. Fun times!! Posted: 08 May 2021 04:27 PM PDT |
| Who the heck are all these people with so much money everywhere buying all the houses? Posted: 08 May 2021 08:00 PM PDT Who are these people putting in these amazing offers after 1 day with seemingly endless money and no worry about contingencies or appraisals? I hear about them but don't know any of them. How do they have so much $, how are they everywhere in the country at every price point and where have they been until now - why are they coming out of the woodwork this year and if they have so much damn money, why don't they own a home already? People complain about this country but apparently we have a shitload of people doing really well all over the country! [link] [comments]  |
| Any Sellers Encountering This? Posted: 08 May 2021 09:33 AM PDT So my wife and I have put our house on the market...Before we even had the weekend showings, got a fantastic offer well above ask. We cancelled the showings and accepted offer. 3 days into the 5 day option, they back out. We open things up next weekend with not as much momentum but still double digit showings. Got another offer above ask but not as good as the first. Oh well, accepted offer. Now, we're being told 2nd buyer may be backing out. This is getting frustrating as it looks to me like buyers are putting big offers out there to tie up a house they may want and 'get it off the market' and they can still look at others and back out. So, I'm sure we will end up selling over and it will be fine, but just so everyone knows, buyers are playing games in this market, too. [link] [comments]  |
| If you’re a millennial did you get parental/family help to purchase a home? Posted: 08 May 2021 07:23 PM PDT We sold our home 6 months ago and I remember out of 4 people who either offered or were going to offer, my agent had mentioned that 2/4 were young families whose parents came with them to showings and one of them was "helping" their kids buy it so their grandchildren could grow up close to their own house and the other was going to outright buy the house in cash for his child. I am just curious if you're a millennial, did you get financial help to buy a home? We did. My spouse and I received a small inheritance in our 20s when a grandparent passed away and we banked it and it covered almost half of our downpayment 2 years later [link] [comments]  |
| Is it possible to rent an apartment with a partner who has a prior eviction from 6 years ago Posted: 08 May 2021 01:54 PM PDT |
| Posted: 09 May 2021 03:23 AM PDT If I find a land lot that already has septic and water hookup from a previous home (that burned), what would be the process of securing something like a manufactured Clayton home on the property? For example, would a conventional loan cover something like this? I can imagine in my head that it might be 2 different financing things - one for the land and one for the clayton home itself? Any information is helpful. (PS I'm aware of some of the downsides of the manufactered homes/appreciation). Thanks! [link] [comments]  |
| House sold at tax appraisal rate rather than market rate? Posted: 08 May 2021 05:26 PM PDT So a house down the street from me was completely remodeled, new flooring, appliances, and it was listed at a price to match. A few days later it was quickly taken off market and now according to the county parcel search it was sold at $150k below asking, or exactly at the county tax rate. What would be the cause of this assuming there is nothing wrong with the house? What determines what number goes under the county records? Did this person get a deal of a lifetime in a red hot market or is something going on? [link] [comments]  |
| Help! Home buyer lost their job less than a week before closing - what should they do? Posted: 08 May 2021 05:52 PM PDT Homebuyer has been looking for a house for over a year. They were terminated with a large severance days before the closing date. What should they do? Ideally, they want the house regardless and already have interviews lined up so finding work is not a concern. (Ohio) [link] [comments]  |
| Would you even entertain buying the house? Posted: 08 May 2021 04:46 PM PDT There was this house close to my friend's house, the husband murdered his wife and two children inside the house. He then burned it down before killings himself. We never thought any one would buy it any time soon. Two year later, some relatives fixed it up and sold for around 93% of the Zestimated price. Personally I wouldn't mind to live in a house like that, but if you buy it, at least buy it for super cheap because you have to think about the resell value, right? What are your opinions on this? [link] [comments]  |
| Posted: 08 May 2021 06:02 PM PDT We bought about 10 years ago. Bought a new house 2.5 years ago, but kept the first as a rental. We've had 2 horrible and one awesome renter. Awesome renter is moving out next month. We're in one of the hottest markets in the US, totally nuts, and if we sell now we could pocket 200% what we paid after commissions. I hate the stress of renting, but our interest rate is low and it'll be paid in 20 years. Rent is about the same as mortgage so we're not making money, but we don't need the money from a sale. I'm thinking cash out now, avoid capital gains, wait for the market to cool and potentially reinvest later if we're up for it. Anyone just not cut for being a landlord? Anyone sell and regret?! Thoughts? [link] [comments]  |
| Standard Practice to Waive Appraisal Contingency for New Builds? Posted: 08 May 2021 03:15 PM PDT Hi Everyone, Forgive me if this is dumb question, but I am a FTHB. Been looking for homes for the last year. My preference is a resale home, however, it's been tough going and I ended up "bidding" on a new Lennar home and my offer was accepted. I'm currently in the 1 week due diligence period before I decide whether to sign the purchase contract. So my question...I was told by the Lennar sales agent that I'm required to waive the appraisal contingency if I elect to move forward with purchase of the home. Is this standard practice for new builds? In practice, do new homes usually appraise for the purchase price? For this particular Lennar home, buyers needed to place an offer just like resale homes. I ended up offering $6k more than the listed price. The sales agent said that if I just buy the home as is (i.e., don't add any upgrades or roll solar into the mortgage), that I "shouldn't" need to worry about the home not appraising. He said he can't put it in writing of course, but reiterated that it's nothing to worry about. FYI, the home is scheduled to be completed by this September. EDIT: New builds in the area have been seemingly going up about $3k to $10k on a weekly basis. [link] [comments]  |
| Buyers and Sellers what do you want most from your Realtor? Posted: 08 May 2021 06:00 PM PDT As in: what is most important to you in regards to their representing you? Please don't be nasty or mean this is a serious question. [link] [comments]  |
| Posted: 08 May 2021 02:06 PM PDT I've got two houses now and have about $300,000 sitting around in cash. I live in a state with an explosive economy that is poised to expand dramatically. To give you an idea, my family is from Austin and all they can say is that it feels like Austin 10 years ago. I'd really like to spend the rest of my life getting bigger to the point where I could do larger developments, like apartment buildings and commercial projects. It's nice owning residential properties and giving people housing, but I like the design and creative side of it most, which I got to experience when I built out and flipped a commercial property last year. I like to have a vision for what something could be and genuinely have an impact on the nature of the communities I'm working in. Do you guys have any advice for what my next step should be, what I should do with the money? Buy a couple duplexes? Try to get lucky and find a fourplex for that cheap that will probably need major renovations? Buy a small commercial property? What do you think would advance my standing the most that I could do at this juncture? [link] [comments]  |
| Posted: 08 May 2021 02:00 PM PDT Has anyone purchase / built a modular Home in Long Island? Looking for recommendations. [link] [comments]  |
| What do you think will happen after the June 30th rent moratorium? Posted: 08 May 2021 12:21 PM PDT |
| Posted: 08 May 2021 07:20 PM PDT We are using a broker we met through a family member's sale. My boyfriend and I are very nervous about the whole process, confused about the timeline, completely stressed about being unprofessional or bothersome. We have been putting this off for quite some time and the market is in the seller's hands. We had a couple of showings with her today and since then we have talked to her about the possibility of another place she had listed and then I sent her a text of a house we found on our own. We are kind of on our own on this, and we know our wants and needs in a house, but area is where we lose our solid ideas. How far is too far for her to drive to look at houses? Any advice is welcome, we do not want to bother our broker too much!! Thank you in advance! [link] [comments]  |
| "Getting rid" of PMI - making monthly payments lower- Please help FTHB here! Posted: 08 May 2021 12:25 PM PDT I'm SO glad to have found this board! Background: Hubby and I are FTHB, he is 50 I am 43, we have 4 kids. Live in DMV, about 30-40 mins outside DC. Most likely will only be able to afford a townhouse as SFH are too $ where we live, but we currently live in a townhouse (rental) so are ok with it, we just need a bigger one. My husband's biggest issue is getting the monthly payments as low we possible. We were really interested in a property about 5 months ago, but backed out before seeing it in person, because our lender ran the numbers and we didn't realize we would need more cash than we had on hand. That issue is no longer, we now have a good amount of cash in our savings to use for DP, closing, etc. Another part we weren't aware before the lender ran the numbers was there would be an additional $353 a month because of PMI since we are putting less than 20% down. I know PMI is based on DP, cash to debt ratio, credit score...well in the last 5 months hubby's credit score is now 60 points higher (mid-700's), also we paid off 3 cc's so our DTI ratio is better, and we saved more money so can put more down for DP. I'm assuming this means the PMI we would have to pay would go way down, right? Would it be much less than the $353 monthly PMI that we were quoted last time??? 5 months ago when I asked lender how much it would cost for us to may PMI upfront she said $10k. What would be better as a way to lower monthly payments, using cash we have right now:
I know you're probably thinking why don't we ask our lender, but she hardly ever responds to my emails and calls, she almost seems annoyed by me (maybe because we backed out last time after she ran numbers???). Thank you in advance if you've taken the time to read! :) [link] [comments]  |
| Posted: 08 May 2021 06:41 PM PDT We purchased a new home with a conventional loan. We then sold our old old home and made a 60k profit. What would you do with that profit? Recast, invest or ? [link] [comments]  |
| Posted: 08 May 2021 09:58 AM PDT I'm considering building a custom home in the near future and, well, I've been blown away by how much the whole thing will cost. But I'm curious to know: are the land prices we're seeing right now normal, or did they rise alongside the cost of already-built homes? Because, if land prices were not affected, I'll probably buy land soon. If they were affected, however, I may wait until the market calms down a bit. [link] [comments]  |
| Posted: 08 May 2021 09:23 PM PDT If a specific real estate agent showed me a house virtually, do I have to make an offer on the property through them? Or can I still use a different agent to make the offer? [link] [comments]  |
| Buying FSBO, lawyer, broker or agent? Posted: 08 May 2021 03:23 PM PDT There have been many posts asking this question, and I'm still confused. If someone wants to sell me their unlisted house, and they have a broker ready to facilitate the transaction for a flat fee that the seller will pay, what's the easiest and safest solution for me? I have an agent who has been showing me homes and writing offers. I don't want to cut them out, but I also don't want to spend unnecessary $. Should I have this person involved? I think the answer will be "just get an RE attorney", but wanted to know if there is an advantage to using my buyer's agent who I like. Edit: I should add, the seller and I already agreed on a price assuming standard commissions, and are looking for ways to reduce the price and split the difference. [link] [comments]  |
| Subject to financing time frame Posted: 08 May 2021 10:27 AM PDT So my girlfriend and i had our offer accepted on an apartment on tuesday and our mortgage specialist at the bank has send in our info to have it reviewed for the mortgage acceptance on Wednesday. We need to remove subject to financing by monday and it's now midday saturday and I haven't heard anything back. My real estate agent messaged the mortgage specialist yesterday, no response. She's going to try again today. Should I be worried? How long does it usually take? There are 10 other people who made offers so if I ask for an extension i'm scared he'll just sell to one of then. [link] [comments]  |
| What are reasonable repair request? Posted: 08 May 2021 03:02 PM PDT We have a contract on a house pending the inspection. We know fire sure the motor for the house fan needs replaced , and the motor on the ac condenser needs replaced. But there is also a retaining wall in the back that is leaning and the slab for the rear parking is sunken about 3". What is reasonable to ask to be repaired and what isn't? It's a nice home but not crazy expensive ( under 175k). Thanks [link] [comments]  |
| Adding a BR always a good idea? (not adding SQ ft though) Posted: 08 May 2021 02:13 PM PDT My home has two kitchens and is listed as a 4BR on the cities official site. At the time the second kitchen was permitted and added (before my ownership), it was not added as an official ADU. I'm going through the motions with the city now to make this happen. Issue: What is assumed to be the 4th bedroom is not the same room as what would make sense as the ADU bedroom. Therefore, it is possible, that without adding sq footage, that turning my 4 BR home into a home with an ADU, would actually create a 4BR home plus an ADU rather than a 3BR home and ADU. Without changing sq footage. In reality, that 4th bedroom would be used as an office or living room by, I would assume, most people interested in this home, as there isn't another room for that purpose if the 4th bedroom is actually used as a bedroom. There is one spare room that is awkward, 15'x 4' space FWIW. My question is, is there any reason I should argue/persuade the city to assume the 4th bedroom be the same room that would be used at the ADU bedroom as essentially creating a 3BR home with a more normal set up/use with an ADU, over a 4BR with ADU? I want to think the house would appraise for more and there aren't downsides to a 4 BR plus ADU, but what am I not thinking about? Property taxes? priced out of the neighborhood? 'Fooling' potential buyers, as in they are like, wait? what's the 4th bedroom? that makes no sense, that's an office!, or 'where's the living room then?' or 'what bathroom do they use?' Edit to add, my current plan with the home is to do a short term rental on the main side of the home, long term rent the ADU while I travel/work remotely. This isn't forever home, though I don't plan to sell right away. Thanks!! [link] [comments]  |
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