I Wonder if "Bad" Agents Are the Smart Ones Real Estate |
- I Wonder if "Bad" Agents Are the Smart Ones
- Conforming loan limit increases for 2022 - Any thoughts on whether it'll juice this insane market even more?
- Zillow officially acquires ShowingTime
- Anyone had an oil pipeline show up on a Land Surveyors Certificate?
- Why did this house's list price skyrocket?
- Looking for help����
- Can anyone evaluate this property for me? (California)
- Need Advice: Seller refusing to repair/replace furnace after inspection.
- Would you buy a place without in unit laundry?
- Any tips for a new condo owner?
- Real Estate Related Careers
- Apply for a building permit before closing?
- First time homebuyer trying to decide between a condo or a house. Help!!!
- Potential bad investment?
- Buying a house in CA question
- I never saw such floor plan, really like it. But after inspection, the report shows everything deficient. Can anyone help and give some advice?
- 13 days until closing, still going back and forth with underwriting... Normal?
- First time home buyer- inspection report
- Timing of making offers
- Selling a fam members home
- Smaller house on good land - add on later?
- Looking at a Rent to Own ... what do you think of the contract???
- Question about Property Taxes - Austin TX
| I Wonder if "Bad" Agents Are the Smart Ones Posted: 01 Oct 2021 06:28 PM PDT There are posts here all the time about how "my agent did nothing but I still got closed and he doesn't deserve anything!" What I've noticed is that all the biggest agents don't do anything. They fill out the forms they are told to. They don't offer advice. They don't attend inspections. They don't get emotionally involved. They don't really do...anything. They just do what the client asks (or have their assistant do it,) and are WILDLY successful. I try and do more for my clients. I try to advise them and actually get deals closed, but what I find is that I often times care more than they do. I have one client who is buying a cheap little $460k condo. The neighbors units sold for around $475k. We had multiple other offers on it, but got under contract because I absolutely busted my ass and convinced the listing agent we could close no problem. We had the inspections done and they came back SUPER clean. No major repairs, but the report is 50 pages (which is awesome because my average inspection is around 75 pages). It's literally the best inspection I have ever had. My client is willing to walk way from the home because of the inspection. All the items are super minor like no ground on sockets ($60 or less per socket), leaky sinks, a wobbly shower head, that kind of stuff. With great effort I convinced him to ask for a $10k price reduction rather than just cancelling the deal (his monthly payment is changing by less than $30), or to have all the work done to the home. There are multiple offers already higher than our $460k escrow. If I were the listing agent I'd just go under escrow with the backup offers. I tried offering advice and putting it into perspective, but the client just felt pressured. If he doesn't want this home, I doubt he will want any other. Partially because we likely won't get a price this low on a property in this good of condition, and partially because he's pretty pissed at me for being pushy. I feel like if I did what every other agent does and just kept my mouth shut, did what I am told, and don't offer advice or help, my client would be way happier despite their escrow going poorly. [link] [comments]  |
| Posted: 01 Oct 2021 08:43 PM PDT https://www.housingwire.com/articles/pennymac-uwm-raise-conforming-loan-limit-ceiling/ Conventional goes from $548,250 to $625,000. High-balance conventional goes from $822,375 to $937,500. It seemed like the increase in loan limits in November of 2020 was a huge catalyst in causing prices to skyrocket by January and February 2021 as people were able to buy more expensive homes without a jumbo loan and these more expensive November/December 2020 transactions began to close, setting comps for the insanity that took place shortly thereafter. Any educated guesses on whether we're in for more of the same this time around? [link] [comments]  |
| Zillow officially acquires ShowingTime Posted: 01 Oct 2021 07:09 AM PDT |
| Anyone had an oil pipeline show up on a Land Surveyors Certificate? Posted: 01 Oct 2021 06:24 PM PDT I've loved reading this forum for months and learned so much but never actually thought I'd need it for personal use, but here I am! :) I was triple checking everything before placing an offer on our dream property (only 2.8 acres) and was looking over the Land Surveyors Certificate for plot lines one last time and saw a line that said "Ashland Oil Pipeline". Did some research and sure enough it's owned by Marathon and it's on their Pipeline Finder App. I read of the obvious upfront concern of having a pipeline like seepage, explosion, etc. but has anyone dealt with this and how much did it affect the property value? My take is, if it's a concern for me, it will be a concern for someone in the future and is this something I truly need to worry about? Sorry if this is a dumb question, but let me have it! Thanks to this community in advance. P.S. it wasn't disclosed by sellers. [link] [comments]  |
| Why did this house's list price skyrocket? Posted: 01 Oct 2021 12:46 PM PDT We're in the midwest and are close to closing on a home. I'm here b/c a comparable home, that we toured, has been for sale since May 2021 and was listed for $359K. It then went up in price, then gradually down in price to $299K on 8/31. It wasn't moving. Then...on 9/30 it went up to $429,900. What in the world is going on here? We're just being nosy but how in the hell can they schedule an open house and justify jacking the price up? I'm not sure if I can post the link but would be happy to if I'm allowed and someone is interested. [link] [comments]  |
| Posted: 02 Oct 2021 03:52 AM PDT I'm 24m looking to make some connections. My current job is sales at xfinity/Comcast (WA state). Been in sales most of my career and just started studying real estate ! Super excited for this new journey . If anyone has any knowledge they can give me or connect with me in Seattle area LMK! [link] [comments]  |
| Can anyone evaluate this property for me? (California) Posted: 01 Oct 2021 09:47 PM PDT I don't really have anyone to show it to and get their opinion since my family isn't aware im buying yet and id like to keep it a secret.. https://www.zillow.com/homedetails/10983-Mascarell-Ave-Mission-Hills-CA-91345/20112883_zpid/ Does this look like a good property to you guys? Would you buy this property? [link] [comments]  |
| Need Advice: Seller refusing to repair/replace furnace after inspection. Posted: 01 Oct 2021 03:34 PM PDT Here's the run down, any advise is greatly appreciated, thanks!!! Residential home purchase, seller asked to forgo agents to save themselves 6%. Neither party knew what they were doing, but promised to work together to figure things out. House was in pristine condition and buyer loved it enough to agree. Before signing contract drawn up by their real estate lawyer, sellers verbally promised to repair anything that inspection found to be broken. Property inspection contingency option checked. The 15 day to inspect limit after signing to inspect was impossible as sellers were on previously planned vacation for a week. Sellers assured this would not prevent them from fixing issues. All other aspects of sale went smoothly. Inspector is above scrutiny, very qualified. Roof issues, outdated breaker box and bad furnace were only issues found. Cracked heat ex-changer in furnace, inspector advised very dangerous to use, 30 years old, cannot repair, must replace. Sellers informed, buyer generously waves all other issues but furnace, seller promises to split $4000 estimated cost to replace furnace. Shared inspection report, sellers feel overzealous and inaccurate, family friend "in heating" told them furnace is fine, they are being cheated by buyer, they consider inspector to be giving false information. Sellers start saying "we consider it your furnace now, you can do whatever you want" despite being 30 days to close and appraisal not back yet. Sellers seem very reluctant to fix any issue inspector found, as though they listed home "as is" and never said they would fix anything. HVAC contractor appointment to confirm inspector's work scheduled. Buyer still very much wants house. Hire real estate lawyer? Give in to seller to not lose house? Approach seller's lawyer to gain clarity on existing contract? Attempt to explain to seller repairs are expected, else relisting will involve damning inspection and updated sellers disclosure informing all new prospective buyers by state law, which will prevent them from getting an offer as good as the one they already have, as well as damages and legal hindrance for default of contract? I'm lost, this industry is insane, good people in distress, please help. Please and thank you. EDIT: wow. this has been really educational about a thing I never gave a 2nd thought before today! Thank for all the advice given! It was really interesting how many down votes were given and where. All from the top down, as though low effort, but extra judgmental? IDK, maybe the wall of text above was a real chore, if so, sorry, I tried to be concise...but I didn't want to leave out a detail of their story. Anyhow you people are cool to have shed some light on an industry that preys on the good intentioned and kindhearted (from my estimation, in this instance for sure) Thanks! [link] [comments]  |
| Would you buy a place without in unit laundry? Posted: 01 Oct 2021 03:56 PM PDT I've seen a few condos I like, but most of them don't have in unit laundry. They have a laundry room on the same floor. I've never lived in a place without in unit laundry, but I imagine it could get annoying. Would you buy a place without in unit laundry? Have you lived in a place like that? Was it annoying? [link] [comments]  |
| Any tips for a new condo owner? Posted: 01 Oct 2021 12:02 PM PDT I am a 27 yo female who recently closed on a 3 bed, 3 bath condo for under 200K. The condo was built in 1998 and has a new furnace and garage door. Does anybody have any general tips from transitioning from being a renter to homeowner? Or any tips about owning a condo? Any advice would be appreciated. I am just feeling generally very nervous about owing a condo. I have never had property before. I work full time as an registered nurse and I am also a full time student pursuing an bachelors degree currently. [link] [comments]  |
| Posted: 01 Oct 2021 08:02 AM PDT I've been thinking of the longevity of my career. I've been in real estate for 8 years now and opened my own brokerage in 2019. Things have been going great, but I can't help but be concerned for the future of our profession and where our industry will be in another 5-10 years. With the increase of ibuyers and the lawsuit with NAR, it's hard to predict where or what our role of broker/agent will be in the future. I've been thinking of other careers to explore where I can use my real estate experience, whether it be tech related, sales, or negotiations. Where do you see yourself/realtors in the next 5-10 years and what other realms of real estate would you suggest looking into to? [link] [comments]  |
| Apply for a building permit before closing? Posted: 02 Oct 2021 01:23 AM PDT Hi all, We're closing on a house November 5th and have signed an escrow agreement. My question is would it be possible to apply for a building permit for some renovations we need to make before closing? We have a contract and earnest money transferred but not sure if you have to be the actual owner to apply. I know it can be a lengthy process so would like to get started as soon as possible. [link] [comments]  |
| First time homebuyer trying to decide between a condo or a house. Help!!! Posted: 01 Oct 2021 05:11 PM PDT So as the title said, I'm (29/F) a first time homebuyer. I've gone back and forth on getting a condo or a house for a few reasons. I was leaning more towards a condo at first. For some reason, it seemed safer to be in a condo vs a house. I guess having neighbors in the building makes me think I would feel more secure. I also liked the idea of not having to worry about maintenance items like lawn care and snow removal. However, there are also things I don't like about condos…..the pet restrictions, rental restrictions (I would like to be able to rent it out one day if I move) and other HOA restrictions, most of the ones around here don't have in-unit laundry, some don't have central air and the monthly HOA fees are all around $300. Because of those things, I started looking more into houses. I like the freedom of owning a home, not having to worry about HOA bylaws/restrictions/fees. Not having to make tradeoffs on things like central air and in-unit laundry. The cons are that it would be a bigger initial investment, but it would probably be easier to sell in the future, and I could always rent it out. I imagine I would feel less secure being in a stand-alone 3 story house by myself vs a condo. And there would be more to worry about maintenance wise. What do you guys think about the house vs condo decision? I would be curious to hear from others, especially women who bought their own place and lived alone. What did you choose and why? [link] [comments]  |
| Posted: 01 Oct 2021 11:10 AM PDT My husband (42M) and I (38F) have an accepted offer on a home, but we're currently on hold due to the offer being contingent on the sale of our home. At this point the original offer (ending 8/15/21) has been extended due to our place not selling and there are provisions saying the seller can take another offer at any time. We can also take our place off the market at any time if we want to and walk free and clear. So, we're kind of in limbo right now. My concern is that our offer was for $582k back in July and the sellers have not had any offers since then. It's making me wonder if we are potentially WAY overpaying for this house. It is a stretch for our budget, but we are willing to do it because it seems like the perfect house for us. The thing I'm worried about is losing a ton of money if we need to sell down the road. Will we be able to get back close to what we paid? We do expect to be in the home for at least 5-10 yrs. We live in a fairly large city in the midwest. The house is 3 bdrm 3 bath and 2,200 sq ft. It's a quad-level, so because there are 4 floors each floor doesnt have much square footage and it does feel kind of small. It was built in 1984, but the current owners have completely remodeled the whole thing top to bottom and it looks brand new. There is also a large outbuilding that's new. The property is on 4.7 acres. It is basically right in town, so it's country living without being way out in the country. It's also currently in a township, but will be annexed into the larger city where we live by 2035. They are building neighborhoods and condos all around it, so it seems like the area is growing. I'm thinking this would be good for resale, but with the market being so crazy right now I'm not sure. So long story short, we love the house and think it's perfect for us, but are worried that if we needed to sell down the road no one else would be interested in a small house on a 4.7 acres. I assume most people in the $600k price range are looking for a big fancy house. I know no one knows for sure, but if anyone has experience in real estate I'd be interested to get your opinion. Thanks in advance! [link] [comments]  |
| Posted: 02 Oct 2021 12:03 AM PDT Hello just moved from AZ after selling our home as the market was sky rocketing my fiance and I work in retail since moving we've obviously been on an loa to settle down somewhere for a bit was wondering tho can we start start talking to a realtor/lender again to browse houses since we have the $ to do so? Or will they require us being back at work... this maybe a dumb question so be easy on me thanks! [link] [comments]  |
| Posted: 01 Oct 2021 11:22 PM PDT I wasn't sure if those problems are serious that I should withdraw. Is there anyone willing to help take a look of the report? Thanks [link] [comments]  |
| 13 days until closing, still going back and forth with underwriting... Normal? Posted: 01 Oct 2021 08:12 AM PDT I'm supposed to be closing on a condo in about two weeks, but still going back and forth with underwriting department regarding statements, larger deposits, etc. I provided everything weeks ago, they disappear then show up again with new questions or old questions I already answered. Is this normal? This is my first time buying a home so no prior experience. I'm concerned about closing date. For those who bought houses before, how many days prior to closing you were cleared to close? [link] [comments]  |
| First time home buyer- inspection report Posted: 01 Oct 2021 09:58 PM PDT My husband and I are in the process of buying our first home. We just got our inspection report back and are unsure what (if) we should be asking the sellers to fix. The house is approximately 15 years old. Any advice how to proceed? Aside from having an older furnace, water heater, and air conditioner, these we the highlighted issues found with the house: -A complete gutter system with extensions is recommended on this structure. [link] [comments]  |
| Posted: 01 Oct 2021 05:59 PM PDT We will be selling our current home and using the proceeds of the sale to fund our down payment for a new home. In a competitive market, is it best to wait until we have closed on our sale and have the cash in our account, or can we start actively looking/making offers as soon as it's under contract? The reason I ask is that it is common for sellers to ask to see proof of funds. If ours is not "liquid" funds yet, can we show a proof that our home is selling and would this in turn make our offer less attractive? [link] [comments]  |
| Posted: 01 Oct 2021 09:29 PM PDT I am a new agent. My father passed away and his properties are going through probate. I am also a heir but we are deciding to sell his distressed properties that have been rentals for years. Can I represent as the Realtor or would this be a conflict of interest? Do I need to be court appointed? Can I share the sales commission with my sibling? [link] [comments]  |
| Smaller house on good land - add on later? Posted: 01 Oct 2021 07:46 PM PDT Hello! We are trying to move to northern Alabama. I'm wondering about getting a smaller house (1500ish sq ft) on a beautiful acre in a nice area for a very very affordable price. I wonder if we could plan to add on to the house later to have an additional bedroom and another living area. Or perhaps unconventional solutions would do just as well: make the detached garage a livable space, have really great outdoor play spaces, maybe even buy an RV for vacations which doubles as guest housing when parked...? I'm just curious to hear thoughts! We have three young children and may or may not have one more baby, if my health ever improves enough. We homeschool and I love for my children to spend lots of time outside. I plan to have gardens, an above ground pool, some chickens, and we already have three dogs - lots of outdoor time is the idea. We currently live in a 2800 sq ft home, although we mostly only use the upstairs which is just under 1500 sq ft. We could save around $700-800/month on our mortgage if we went this route, plus we don't have to do a down payment which means all the proceeds from selling our current home (almost $150,000 profit) is available for whatever. But I don't want to choose a home we'll be unhappy with because it's too small and none of my ideas for improving the situation are realistic or helpful. [link] [comments]  |
| Looking at a Rent to Own ... what do you think of the contract??? Posted: 01 Oct 2021 03:45 PM PDT Looking at a Rent to Own ... what do you think of the contract listed below?? It would be a really incredible deal in an expensive area.... . . . . THIS IS A RENT TO OWN AGREEMENT BETWEEN OWNER OCCUPANT/PAYOR JO THIS IS NOT A MORTGAGE OR A LEASE. THE OCCUPANT/PAYOR HAS THE RIGHT TO OWN THE PROPERTY AFTER 10 YEAR 120 MONTH MONTHLY PAYMENTS OF $372.00 AND AT THE BEGINNING OF THE AGREEMENT HAS PUT DOWN $35000, IT ALSO IS AGREED THAT IF THE OCCUPANT/PAYOR DEFAULTS, ON THE PAYMENTS, ON THE DATE OF DEFAULT THAT THE OWNER HAS THE RIGHT TO KEEP ALL OF THE PAYMENTS PAID AND THERE WILL BE NO REIMBURSEMENT. IT IS ALSO AGREED THAT THE OCCUPANT/PAYOR WILL KEEP THE PREMISES IN EXCELLENT CONDITION DURING THE AGREED TIME PERIOD AND THE OWNER/AGENT CAN INSPECT AT ANY TIME DURING THE AGREED TIME PERIOD. OWNER OR AGENT MUST GIVE 24 HOUR OR MORE NOTICE TO INSPECT. OCCUPANT /PAYOR IS RESPONSIBLE FOR ALL OF THE UTILITIES INCLUDING WATER/SEWER UPKEEP, REPAIRS, GARBAGE, SNOW REMOVAL, LAWN CARE AND ANY OTHER MAINTENANCE. IT IS ALSO AGREED THAT THE OCCUPANT/PAYOR WILL NOT SUBRENT THE PROPERTY WITHOUT THE WRITTEN AGREEMENT BY THE OWNER. IT IS ALSO AGREED THE THE PROPERTY WILL NOT BE USED FOR ANY OTHER PURPOSES (IT IS NOW USED FOR RESIDENTIAL) WITH OUT THE WRITTEN AGREEMENT BY THE OWNER. THE OWNER HAS A MORTGAGE ON THE PROPERTY AND ITS TERM WILL EXPIRE BEFORE THE ABOVE AGREED DATE. THE OCCUPANT/PAYOR HAS THE RIGHT AT ANY TIME GIVEN 24 HOURS NOTICE TO INSPECT AND GET PROOF THAT THE MORTGAGE IS UP TO DATE. THE OWNER DOES NOT HAVE THE RIGHT TO SELL, OR TO BORROW ANY MONEY AGAINST THE PROPERTY. THE PURPOSE OF THIS AGREEMENT IS SO THAT THE OWNER CAN NOT SELL AND THE OCCUPANT/PAYOR WILL HAVE A GUARANTEE THAT THE PROPERTY IS GIVEN TO HIM AFTER THE AGREED TIME PERIOD ABOVE. THE OWNER WILL ALSO PAY FOR THE TAXES ON THE PROPERTY, AND FIRE AND LIABILITY INSURANCE ON THE PROPERTY. IF THERE IS A FIRE AND A TOTAL LOSS $35000 WILL BE REIMBURSED TO THE OCCUPANT/PAYOR AFTER SETTLEMENT BY THE INSURANCE COMPANY. IF A PARTIAL LOSS THE OWNER WILL FIX THE PROPERTY WITH THE INSURANCE PROCEEDS AS IT WAS ON THE BEGINNING RENTAL AGREED DATE. IT IS IMPORTANT THAT THE OCCUPANT/PAYOR HAVE THEIR OWN TENANT INSURANCE POLICY FOR FIRE )PERSONAL PROPERTY) AND LIABILITY. THE OWNER IS NOT RESPONSIBLE FOR THE OCCUPANT/PAYOR PROPERTY AND PERSONAL LIABILITY. THERE ARE 3 VARIABLES THAT THE OCCUPANT/PAYER WILL PAY EXTRA TO THE $372.00 TO THE OWNER.
AND THE OWNERS AGENT AT THIS TIME IS WILL SIGN ALL FORMS AND THEN THE OWNER WILL SIGN ALL FORMS AND SEND OCCUPANT/PAYOR RECEIPT AND COPY OF THE AGREEMENT. A RECEIPT WILL BE SENT TO OCCUPANT/PAYOR AFTER THEIR CHECKS CLEAR AT THE OWNERS BANK. THIS IS THE WHOLE AGREEMENT THERE IS NO MORE. SIGNATURES. OCCUPANT/PAYOR DATE OWNER/AGENT OWNER [link] [comments]  |
| Question about Property Taxes - Austin TX Posted: 01 Oct 2021 07:19 PM PDT I'm trying to help my mom purchase a home in the "Austin Metro Area" which by the way is laughable, it includes San Marcos, New Braunfels, right. Anyways, the problem is I'll have to purchase the home and she'll have to pay me for it due to credit issues so I won't be able to claim a Homestead Exemption since I have a house. The question is, can I basically expect the tax appraisal for next year to come back as the purchase price? The reason I ask is because the difference is absolutely insane. Check out this house: 2159 Redwing Way, Round Rock, TX 78664 , listed for $327,000 . For 2021 it appraised at $200K. The difference is $125k+ almost double. Obviously this makes a huge difference in what I am budgeting for property taxes, but it almost doesn't make sense for the appraisal to come back that high for next year. Wouldn't that mean that all the houses around there would also have an increase in appraisal, of course capped at 10% for homesteads but still, wouldn't this likely force people out of their homes? I doubt the average family who assumed they could pay $4500 a year ($325 a month) in property taxes could pay $9000 ($725 a month). [link] [comments]  |
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