All listings should come with a floorplan Real Estate |
- All listings should come with a floorplan
- Offer accepted for a normal buyer like us. There is hope if you're tenacious! [DMV]
- People who moved to Phoenix: Do you have any regrets?
- My [25M] family friend agent [65F] is my under-contract deal selling my home.
- Grounds To Cancel Seller's Contract?
- Home Inspection - Questions on Improper Grading/Water Drainage Issues
- All the screw ups
- Negotiating after inspection.
- Fed- raising interest rates by 2023 announcement- impact on housing market today?
- What do we do on buying land
- Public Service Reminder - Home prices always go up...
- Closing got canceled due to Juneteenth AFTER money was wired.
- Things to consider when buying a painted house?
- Where to find general contractors?
- First time renting an apartment with a roommate. I am taking over the lease for the final 5 months. Do I still need to pay the application fee?
- How do I finance this?
- Hints of slowdown... North Jersey
- Is it possible to pay my landlord just $1500 tomorrow and pay the security deposit of $1500 two days before I move in on July 1 ?, instead of paying them $3,000 tomorrow ? Is it possible to negotiate this ?
- Help a Incoming uni freshmen thinking about CRE - books, advice, and general knowledge
- Has anyone done a mortgage principle pay down after closing on a new home to lower monthly payments?
- Sellers wanting to take things I thought came with the home
- Are higher value homes selling as fast?
- Realtor Mileage App- What app do you use?
- Does our agent need to be present to go to an open house?
| All listings should come with a floorplan Posted: 18 Jun 2021 11:56 AM PDT Why don't all listings come with a simple outline of the floor plan. It would save agents, sellers and buyers so much time and energy and people could more easily find a house that suits their needs. Do more not have them because it's a security concern? Or some other reason? For instance I just saw a listing with a floorplan. The house had more room then our current house, but it was in all the wrong places for our needs. You could not tell this based on the pictures or listing description. So it would have been a waste of time for everyone involved for us to even see if (actually we aren't even actively looking, but if we were lol). [link] [comments]  |
| Offer accepted for a normal buyer like us. There is hope if you're tenacious! [DMV] Posted: 18 Jun 2021 06:45 AM PDT We are in a pretty hot market - the DC/DMV region. We started our search 3-4 weeks ago and have since probably gone to about 40 open houses and about 5 other scheduled walkthroughs. I'm pretty sure my RE agent thinks I'm annoying as hell with how active I am, and due to the quantity/frequency of messages I send him. But w/e, he's getting thousands for a few hours of work. Anyways, last week we did an open house of a property. We loved the place, and the asking price was pretty fair for the neighborhood (it should appraise well I think). We didn't even bother telling our realtor that we liked it, because we were expecting an insane number of offers to be submitted on the place because all you hear about are the stories of numerous zero-contingency offers/all cash etc. Lo and behold, the deadline for offers comes and goes, yet I still see the house listed. I contact the agent on the business card I took from the property just to see if it was a mistake or if the listing hadn't been updated yet. He ends up confirming that the house was still sitting on the market after its open house and that he had zero offers in hand after the offer submission deadline. We immediately pounced and told our realtor to submit an offer. Today we get confirmation that we have started a deal. We are paying the asking price, and the best part of all is that we still have all 3 major contingencies in place. We will see if we close on the place, but I just wanted to give people out there shopping that even in a hot market like ours there is still hope. We still were able to get a deal going like a normal buyer would - asking price + contingencies. It just took a lot of looking every single day and constant following of the listings we liked. Also willingness to be annoying and/or followup with properties. Don't give up those contingencies - I think you're making a mistake unless you have huge cash reserves, which if you are normal people like us, you simply don't have. Nor can we eat all of the risk forgoing inspections. Good luck to you all trying to buy. There are some signs of cooling around these parts, imo. Some attribute it to a typical summer slow down, but I think it is a little bit more than that. Seeing inventory rise as well as the numbers of offers on place decrease a bit around here. There's hope! [link] [comments]  |
| People who moved to Phoenix: Do you have any regrets? Posted: 18 Jun 2021 10:33 PM PDT It's pretty well documented that there's been a lot of growth in Phoenix and other now very warm markets during the pandemic, especially dating to fall through early spring when those places had relatively great weather. I'm just curious because I know I could never live in that climate: do you have any regrets, or does it not affect your life that much? Did you anticipate spending a lot of time outside throughout the day (not just early AM), or was that not as important to you? Has anyone been so put off by this hot spell that you want to sell and move somewhere else? [link] [comments]  |
| My [25M] family friend agent [65F] is my under-contract deal selling my home. Posted: 19 Jun 2021 02:46 AM PDT I broke my one rule of never working with family and friends and can not be regretting it more. I picked this agent because they would be willing to do it for less than a normal commission. She recently got her liscence again. I basically needed someone to show it, do the paperwork, email back and forth with the seller, and let people in and out. Last Wednesday she forwarded me an email that the buyer was pulling out. I was shocked. Everything was seemingly going fine. She didn't even fucking call me. The deal collapsed and she thought it was appropriate to email me not call me. She also refuses to talk over to the phone to me or the other agent because she wants "Everything in writing". Apparently, she did not send me any of the buyer's requests after the inspection. The buyer sent numerous emails saying "Really trying to hold this together the buyer wants to pull out and you aren't cooperating. Additionally, she would send me abridged versions of and then forward my answers along the whole sale to the buyer agent. Below is an example Buyer Agent: Hello we have a concern about a stain in the bedroom would you mind contacted unit 4 to ask them if they had water drip in from their space? Selling Agent to me: What is the stain in the bedroom. Me: I don't know what stain you are talking about Selling Agent Message to Buyer Agent: He doesn't know what you are talking about. After they pulled out I called the agent and left a message and saved the deal. My agent talked to me on the phone and said she shouldn't be contacting me. I said I had to contact the buying agent to save the deal. My agent says she is going to tell the other agent not to contact me anymore. I tell her to let it go. She does it anyway. After that, I messaged both parties and told them to CC into all communication and that the buyer agent can talk directly to me. I do not want her involved anymore. I have yet to meet somebody so incompetent at their job. The buyer makes a decision tomorrow at 10 AM whether they would like to move forward or not. Should I call and talk to the other agent again. If the deal falls through can I fire my agent? [link] [comments]  |
| Grounds To Cancel Seller's Contract? Posted: 18 Jun 2021 05:30 PM PDT I'm selling my recently deceased son's house (no mortgage), and it is 250 miles from my home. The house needs some cosmetic repairs as well as some new hardwood floors as my son was severely depressed and did not keep the house up. I had a realtor my lawyer uses who walked through the house, and suggested a price range of 150k - 170k. It's located in a great school district and has some great upgrades: on demand water heater, heated bathroom floor, newer windows and some good appliances, an industrial air compressor in the workshop and more. The local market is a seller's market there and homes are hard to find. I got a second Realtor's opinion, someone my other son had used years prior but he moved too far away and wound up with a different realtor. We trusted this guy. He came over to the house with a folder already prepared without even seeing the house. We walked through, I pointed everything out. He handed me the paperwork and the listing price he suggested, strongly, was 210k, stating the market is a seller's market and the property would sell within a few days with no problem. I signed the contract. The house was listed today. He calls me 14 hours after the listing began stating he's had some interest, but with some floors needing fixed/replaced and some other issues, he suggested lowering the price to high 160's. I feel like this was a bait and switch. I'm angry and feel duped to have believed his initial "expert opinion." I truly believe he went high to get me to sign and knew he'd want to lower price afterwards. He even went on to strongly suggest I sell even lower to a buyer to flip, to get it sold sooner than later. He also told me he now has covid! He said during the signing he was okay not wearing a mask if we were. After all was said and done, before he left, he told us his mom has covid!! Now he has it and he found out on Monday but didn't inform me until today, five days after he tested positive!!! I feel he is not only unprofessional but unethical. I am wondering if these two issues would be enough to give me a legal right to cancel the contract. Anyone have any insight on this?? Thanks. [link] [comments]  |
| Home Inspection - Questions on Improper Grading/Water Drainage Issues Posted: 18 Jun 2021 06:12 PM PDT Hoping some knowledgeable people here can shed some light on my home inspection result, because I'm losing my mind trying to figure out if I should walk away from this house or not. I'm located in Massachusetts. Like everywhere, the housing market is a disaster here and we finallylanded an accepted offer on a perfect home. It's a 1960 constructed home, poured concrete foundation. For the most part, the inspection showed the normal expected stuff. Rotted exterior door threshold, some cracked interior plaster/drywall, etc. But, there were two larger issues that I'm wrestling with. First, water drainage. There are downspouts on the 4 corners of the house, and each of them point straight down. This is caused moisture intrusion into the basement. Along the perimeter of the basement floor, there is an obvious discoloration along the plaster walls, where the slab would meet the foundation walls. Our inspector stated he couldn't say for certain if this has caused any significant damage, but obviously recommended the gutters be diverted. Additionally, there is a large concrete slab patio in the rear of the house. The patio is sloped towards the house with no exit, causing all of that water to drain towards the rear foundation. The patio is old, so the not surprising recommendation is to replace the patio with proper grading, and probably a drain. Second, floor sagging. The 1 car garage of the home is underneath the main floor. Dead center of the garage, there is a lally column which was obviously not original (obvious patch in the ceiling) which is directly below a section of the kitchen that is sagging. The kitchen was opened up with a large island put in, but I would assume the joists should've been able to handle that load. The sagging alone doesn't bother me, and especially that it's now supported. But my biggest worry is that the two are connected. i.e., an issue with the foundation due to improper drainage is causing sagging in the floors, indicative of a major issue. Obviously, I'm also worried about the drainage and any soil/foundation issues this may have caused over the span of 60+ years. If the worst of my problems are redirecting the gutters, replacing/re-grading the patio and a dehumidifier in the basement, I'll be one happy human. Given the current market, I'm cautious that even asking the seller to allow me to hire a structural engineer for added security will cause them to back out (you can guarantee they'd receive offers waiving inspection). If anyone has any insight with these sort of issues, or if this something that warrants an engineer (or walking away), I'd appreciate any insight tl;dr: improper grading and downspouts pointing to the foundation has caused basement water intrusion along the edge of the basement slab floor over an extended period of time (50-60 years). Slab below grade with poured concrete foundation. Wondering if this is a major concern or not [link] [comments]  |
| Posted: 18 Jun 2021 12:43 PM PDT Was supposed to close yesterday. All docs are signed, all monies funded, loan ready to close, champagne bottle in the fridge. But no, we are delayed. Why? Let's review every screw up that transpired which could have delayed closing or killed the deal but did not.
Somehow we were still on-track to close a day early, but alas, the real estate gods would not abide and delivered one final screw up:
🤦 So we are a couple days late. Should be fine. All things considered, lucky to grab a house we wanted at a high but not crazy price. Kind of amazed at how all these professionals are able to mess up such fundamental pieces of a completely run of the mill transaction. [link] [comments]  |
| Posted: 19 Jun 2021 03:22 AM PDT After having the inspection done yesterday we were very pleased to find no major issues with the house. However, there are a few things that we think would be important to negotiate on. Specifically, the central air unit is 38 yrs old! It still works fine but the inspector was concerned about the age and also noted how much more expensive older units are to get serviced. The buyer included a 1yr home warranty that would cover it but if it breaks after the first year we're not looking forward to dishing out a couple thousand to replace it. We haven't even gotten the finished inspection report back yet or spoken with our realtor but I'm just trying to get an idea on what our course of action should be. So… Is this a legitimate item to try and negotiate? Would it be better to ask them to replace it or just reduce the price? How does the negotiating process usually go? [link] [comments]  |
| Fed- raising interest rates by 2023 announcement- impact on housing market today? Posted: 18 Jun 2021 10:58 AM PDT The Fed recently pushed up its estimated timeline for raising interest rates to 2023. Do we expect an immediate impact on the housing market? For example, do you think there will be more of a scramble of people trying to buy before interest rates rise, in the short term? [link] [comments]  |
| Posted: 19 Jun 2021 02:42 AM PDT My husband and I are trying to buy some land in Wisconsin. There's a beautiful lot in an established subdivision that is 4.07 acres originally listed for $99,900. We offered $90,000. The sellers counter offered with $99,000 flat, stating that the land hadn't been on the market long enough and didn't want to budge too much from listing price. There is a another plot of land in the same subdivision, 3.1 acres for $69,000, owned by a construction company. We are torn because the first lot is bigger, more elevated, has better views, and you can choose any builder you'd like. With the other lot, it is smaller, lower elevation, and we have to go with the construction company who owns the Lot to build our home on it. Our realitor says $99,000 for the first lot is a decent price for the current market and that we should go for it. (She is a family friend of 15 years.) My husband wants to save the $30k and go for the smaller lot. I'm still in love with the first more expensive lot and think it's worth it. What should we do? [link] [comments]  |
| Public Service Reminder - Home prices always go up... Posted: 18 Jun 2021 11:10 AM PDT Given a long-enough period of time... But sometimes not during the period you own your home. Just thought this was a good example as I was looking through listings: https://www.redfin.com/CA/Los-Angeles/3839-Broadlawn-Dr-90068/home/5310791 Yes, the current seller is making out like a bandit. Bought for $760k 11 years ago and will now sell for $1.6M (or more). We all want to be like this guy, right? But here's the rest of the home's sales history: 1982: $163,000 1987: $365,000 1989: $495,000 1999: Listed at $465,000, sold for $450,000 2010: Listed for $749,000, sold for $760,000 Imagine being the guy that bought in 1989. Ten (!!!) years later, he sells it for less than he paid for it. The "Hold for 5-7 years and your home will appreciate" mantra didn't work for this guy. Just something people should be aware of and this is a nice real-life data point of the failure of the "homes always go up" theory at one specific point in time for one specific person owning one specific house. [link] [comments]  |
| Closing got canceled due to Juneteenth AFTER money was wired. Posted: 19 Jun 2021 12:48 AM PDT I was all set to close on Monday at 8AM. Our closing funds were wired over and everything. I get a call from someone I've never spoken with before at my lenders office saying the closing had to be cancelled because my disclosure was sent on Thursday and given the new holiday, Thursday to Monday doesn't follow that three day rule when it comes to disclosures. They end with profuse apologies but don't know when they can schedule me. Mind you it took THREE WEEKS to schedule me initially for Monday so I'm not feeling optimistic. Having all my funds transferred, but not having a closing date in sight with my movers scheduled to come in 5 days feels unsettling. Moving companies are extremely difficult to come by where I live so cancelling isn't really a good idea. Just venting and feeling sad and defeated. [link] [comments]  |
| Things to consider when buying a painted house? Posted: 19 Jun 2021 12:17 AM PDT Hi all, My partner and I have had an offer accepted on a £200k semidetached house in Gloucestershire, U.K. All seems to be going well, but my family have expressed concern about the outside brick of the house being painted. They have said its odd the current owners would commit the costs and time to having to repaint the house evey few years when there isn't really any need to, as no other house on the road is painted. My family also wondered whether the current owners have painted the house as a quick cheap alternative to repointing, but tell me painting brick means it can't breathe and can cause various issues. I don't know much about this myself, but would really appreciate some input from others on the pros and cons of a painted house and what to look out for/ask the owner about. Thanks! :) [link] [comments]  |
| Where to find general contractors? Posted: 18 Jun 2021 05:55 PM PDT Needed a few repairs done before selling. Where do you find general contractors for good rates? Concrete garage floor cracked, and need new carpet or flooring installed. [link] [comments]  |
| Posted: 18 Jun 2021 07:59 PM PDT Sorry if this is a dumb question but I wasnt able to find anything that applied to my situation. So, there is an apartment who is rented out to my friend, and her friend (person #1). Person #1 moved out 3 months after the lease began and in comes in Person #2 who took over her part. Now Person #2 is moving out due to personal reasons and in comes me looking to take over her lease. Now, there is only 5 months left of this lease and my friend and I have the same exact job, same exact pay, and the landlord is aware of that and she still sent me the application and is charging me $80. My friend is staying there the entire lease and we make 3x the amount of the rent we split. Is it possible to waive this fee? I saw something about it being for background/credit checks and that it cant but I dont know if I should talk to her because its not like im staying a full year. Looking for some insight on what to do. Thanks! [link] [comments]  |
| Posted: 18 Jun 2021 03:59 PM PDT Here is the deal. My wife's uncle (Bob) inherited a house with his sister (Susie) when their mom passed away. The home is free and clear. Susie wants to sell and Bob wants to look at splitting the lot (there is a rental house that fronts the back ally) and then selling or just renting both houses out. He doesn't want to deal with Susie since she's not...stable. However, he doesn't live in the US and is on disability. So, he can't find a lender for him to buy out his sister. And that's where our value is found. We have the credit and cash to finance that size if a loan, (300-370k). I would like to basically buy out Susie and become get on the deed with Bob. Can I find a conventional lender that would finance me so I can buy out Susie, or would Bob need to be on a new mortgage to buyout Susie Any help or information would be helpful. Would we need to put 20%? Our loan would be for 300-370k and the appraisal would be at 740k and the LTV would be at 50%. [link] [comments]  |
| Hints of slowdown... North Jersey Posted: 18 Jun 2021 08:30 AM PDT I can see inventory up by 10-20% in the past 3 weeks. It looks like its 20% below what I see for the past few years average.. Normally I see 105 houses for sale in my town and now its up to 88.. ( Ranged from 56 - 70 for the past 12 months). The town saw an increase of ~12% price increase since COVID. This is a commuter town. Overpriced houses are sitting in the market longer. Undesirable homes seeing price cuts. I can see a few rushing to sell little too late, but thinking about March/April prices when listing. Those are sitting for some time. I saw spike in multi-family listing in first 3 months of 2021. Now less. ~ 10% of inventory across several towns around have price cuts which is consistent across towns nearby. This is North jersey Bergen County.. So something is happening. With WFH ending for most in Sep, I expect to see NJ commuter towns to rise a little bit or steady for long term.. Most major banks want their staff back. At least 3 days a week. People who bought in far away places where u can't get to Manhattan 2 days a week and were told to come back, people will be looking for a new job or selling soon after few years due to exhaustion and health problems.. [link] [comments]  |
| Posted: 18 Jun 2021 06:55 PM PDT |
| Help a Incoming uni freshmen thinking about CRE - books, advice, and general knowledge Posted: 18 Jun 2021 10:26 PM PDT I've always been interested in real estate and wanna consider majoring in it in college. What are some books that can get me started on a COMPLETE beginner level ? And can someone explain to me what and how CRE works? I've only been researching and learning how to do real estate on a residential personal investment level. Thanks! :) EDIT: I mean commercial real estate as a career [link] [comments]  |
| Has anyone done a mortgage principle pay down after closing on a new home to lower monthly payments? Posted: 18 Jun 2021 04:25 PM PDT We are actively looking to sell our current home and buy a new one in MA. Since the market is so crazy, we don't want to sell our current home until we've got an accepted offer on a new one. We have enough in savings to make a 15-20% down payment without our offer being contingent on the sale of our house. However, we are expecting (very conservatively) around $200k in net proceeds from our home sale, which we'd like to invest into the equity of our new home after closing (to get rid of PMI, if any, and reduce our monthly payment). Our lender suggested doing a pay down a few months after closing. Just wondering if anyone has ever done this? Are there hidden drawbacks that I'm not seeing? [link] [comments]  |
| Sellers wanting to take things I thought came with the home Posted: 18 Jun 2021 08:43 AM PDT I am in California. We did the final walkthrough last night and the sellers decided not to show up. There are some gigantic pots with trees in them. I'm talking hundreds of pounds of weight. I recall asking if they came with the house the first day I saw it and my realtor said of course. How are they even going to even get them out of here? Plus they're moving to Europe where you can't bring our agriculture in. There is also a large carved stone fountain in the garden. Again, told comes with the house. During the walk through last night the sellers realtor told me if I want any of their potted plants, including the gigantic ones (of which there are many), then they will "sell" them to me for $2200!! No way I'm paying that. And since that their fountain plugs in, though easily weighing a few hundred pounds, they're taking that with them to Europe. I'm honestly flabbergasted and disappointed. I thought fountains came with property and it was never excluded from the sale. Neither were the potted plants. Is this legal for them to take? I'm so upset at how unreasonable they've been. Edit: thanks everyone. It sure looks like it was my realtors fault. I mentioned the first time I saw the house I really wanted those items and he explicitly told me not to put them in the contract and that we would "discuss it with them later". This is my first home and I stupidly went along with my realtor and trusted him. Big mistake. Edit 2: The seller's realtor and my realtor both felt so bad how unreasonable they were being and they somehow worked it out to give me all the plants! They refused to give me the fountain, but said they'd tell me the maker. And they even gifted me an antique I loved in their home and a few statues I loved! HUGE LESSON LEARNED from you all! Hope this post helps other buyers from being stupid like I was. [link] [comments]  |
| Are higher value homes selling as fast? Posted: 18 Jun 2021 11:04 AM PDT We're looking to buy this summer, and I'm trying to determine how aggressive we need to be in making an offer. For reference, median price in our area is roughly $425k. Our budget is around $850k. How quickly are homes in this range selling relative to lower-price homes? I imagine investors looking to pick up rentals are looking at the lower end of the market, but I'm just guessing. Thoughts? [link] [comments]  |
| Realtor Mileage App- What app do you use? Posted: 18 Jun 2021 05:38 PM PDT |
| Does our agent need to be present to go to an open house? Posted: 18 Jun 2021 09:51 AM PDT My husband and I noticed a house that we are interested in has an open house tomorrow from 12-3pm. Our agent is on vacation. Can we go without her? Do we need to sign up for an appointment? I haven't bought/sold a home since 2004 and things are quite different now. Thanks in advance for your responses. [link] [comments]  |
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