But who bought a house and still reads this sub? Real Estate |
- But who bought a house and still reads this sub?
- Why are flipped houses so bad?
- I hate my new build house and having an anxiety attack
- Have you ever passed on a house because of the listing agent ?
- What are the risks of buying an older home vs a newer home?
- Is an HOA the killer of cashflow?
- Where do you go for accurate residential data?
- First Time Home Buyer - Is Now a Good Time?
- Remodeling - HOA says no hard surface flooring, but plenty of units have it
- Mortgage approvals and a housing crash. What is the highest percentage of your income your mortgage payment has been? And how much did you hate it?
- Is it ok to get a new realtor if you're looking at a new area that they're not as familiar with?
- Renting makes sense when 1) can't afford minimum required downpayment 2) you have bad credit 3) uncertain income 4) uncertain about staying at a place for less than 5 years. Any other situations?
- Buy this new house now??
- Submitting multiple offers simultaneously? California
- Purchasing house with Cash vs. Financing
- Treat house like a bank?
- Finding a lender with less than two year work history
- Unsolicited Waived Appraisal
- What do you feel are “high end” amenities?
- Flag lot
- Using online sites to track home purchase
- On the fence about whether I should make an offer, and how much.
- Is it common for a seller to not give a disclosure because "they don't know"? How big a red flag is it? My agent says its not a big deal because the inspection will give us all information that's needed.
- Thinking Of Selling My Recently Purchased Home - Freaking Out. Would LOVE Advice.
- Condo vs House for saving most money/least hassle?
| But who bought a house and still reads this sub? Posted: 31 Oct 2021 04:47 PM PDT Realtors, investors, and flippers, that makes sense. If you're a buyer in the market, that makes sense. But who bought a house already and still reads this sub? Seems like a lot of home owners. are here. Did you find this sub when you were looking, and now just keep reading it? What do you get from it? Are you looking to sell and move? [link] [comments]  |
| Why are flipped houses so bad? Posted: 31 Oct 2021 07:10 PM PDT I am a first time home buyer and have only started looking for the past 3 weeks. Of the 20 houses I have been shown till now, 2 of them were "flipped by investors" and both of them were downright garbage. The workmanship was shoddy and the materials were cheap compared to the other 18 homes that were renovated by past and current owners to various degrees. None of the owner-renovated parts of the 18 houses (kitchen, deck, bathrooms, etc.) looked nearly as bad as the houses that were flipped by investors in their entirely. Granted these flipped houses were significantly cheaper than the others but definitely not worth their listed price. So my question is, how do investors hope to recoup their investments with such shoddy work which was so obvious to my layman's eyes, forget about seasoned inspectors' eyes. [link] [comments]  |
| I hate my new build house and having an anxiety attack Posted: 31 Oct 2021 09:42 AM PDT I'm having anxiety, I doubt there's much I can do at this point. I went to the new house site today and We are first time home buyers and close in 18 days, loan is locked in at 3.5% 15K down already in earnest money already. We live in Mn. We did a conventional loan, no special financing or anything. So without taking a financial loss, I think we are stuck and have to stay. I hate it, it feels small for being a 4 bed, 1 full, 2 baths with just showers (2300 sq ft), and like we paid way too much (465K) it feels cheap and poorly built, I have disliked the builders through the process and maybe that's why I am feeling this way. I'm scared we paid too much and that we are going to go completely underwater because the housing market and inflation. The yard will be unfinished through winter, so I feel like it's just going to be an ugly mud pit. Can someone talk me from the ledge here? Is it normal to have this kind of anxiety? Does it turn out to be okay once you move in? What if I still hate it, how long should you stay in a place before you resell it? I feel so dumb and foolish. I wouldn't be the least bit sad if a meteor fell from sky and landed directly on the house and wiped it off the planet. [link] [comments]  |
| Have you ever passed on a house because of the listing agent ? Posted: 31 Oct 2021 06:31 AM PDT What are some examples of an off putting listing agent? Asking too many questions as u tour the house. Hard sell. Asking too many questions about your own RE situation. Fishing for new clients. Following you around at an open house. Won't stop talking. Weird new realtor vibe, as if this their new career of the month. Not having a professional demeanor. Clearly doesn't know the area or is from somewhere else. This kind of stuff can be very off putting, and tarnish the perception of the house itself. Also, as much as I can't stand overpaid realtor middlemen in HCOL, when a house is listed under some low cost off-brand agency, it makes me think the sellers are cheap. Cheap with repairs. No go zone for me. [link] [comments]  |
| What are the risks of buying an older home vs a newer home? Posted: 31 Oct 2021 12:35 PM PDT I'm looking into buying a 3 bedroom 2 bathrooms, 2 car garage home. What are the pros/cons of a 70s/80s home with more land v late 90s/early mid 00's with less land (trac homes)? [link] [comments]  |
| Is an HOA the killer of cashflow? Posted: 31 Oct 2021 12:29 PM PDT Buying a condo with a $400 per month HOA, it covers water,sewer,heat,garbage,cable,pool(s) /sauna access, snow removal, exterior maitenece. It is a 2 bed 1 bath 920sqft condo that will rent for about $1200. I am buying it for $59k, I will have to put about 15k into it for rehab. I really want to pay it off asap but that $400 HOA will kill my "paid off cashflow", I dont think the amenities are worth $400 per month to a renter. Does anyone have expierence with HOA investing? [link] [comments]  |
| Where do you go for accurate residential data? Posted: 31 Oct 2021 08:45 PM PDT I'm looking to keep my finger on the pulse on the residential real estate market in the US. Do you have any recommendations for good data sites? [link] [comments]  |
| First Time Home Buyer - Is Now a Good Time? Posted: 31 Oct 2021 11:56 AM PDT My wife and I are finally beginning the processes of buying our first home. However, home prices are crazy high right now compared to just earlier this year. The house we really like has increased from $298,500 in February 2021 to $355,000 now. I see people saying to wait and I see people saying to buy. Not totally sure what to do. Thanks! [link] [comments]  |
| Remodeling - HOA says no hard surface flooring, but plenty of units have it Posted: 31 Oct 2021 05:56 PM PDT I recently bought a unit with the intention to remodel it. And shit, I didn't read CC&R carefully until after we closed. It clearly states that hard-surface flooring is NOT allowed in anywhere but the entry way, bathrooms, and kitchen. But I really dislike the carpet right now. Replacing it with vinyl is one of my biggest priorities. I looked up some other units from the same complex, and many of them have hardwood floors where they're not supposed to! Did they all go behind HOA's back, or perhaps the HOA is not as stringent on this rule as they state to be? It sounds like from the CC&R that they just want noise mitigating material. So perhaps vinyl is ok with them? I'm almost having a panic attack now...and I will reach out to HOA during business hours to ask them about this. Does anyone have experience? [link] [comments]  |
| Posted: 31 Oct 2021 02:04 PM PDT Our bank approved us for a mortgage that would put us at 50% debt to income. BUT they use income before taxes so the debt to -actually money we have to spend- is higher. I have run the numbers a 100 times and if we bought this hypothetical house, I can't find a way to make it work. We literally wouldn't have money to live. I've read on here that we aren't going to have a crash because of lending restrictions, but I don't see how that is? In this market, even though we never would(!!!!!), at times we have been tempted to say screw it and buy whatever house we can get, even if it means we can't afford it. I'm sure there are plenty of people who are blindly believing their banks or sick of this market and buying out of their price range? [link] [comments]  |
| Is it ok to get a new realtor if you're looking at a new area that they're not as familiar with? Posted: 31 Oct 2021 05:41 PM PDT We love our realtor. She's super hard working, nice, not pushy and very knowledgeable about a handful of areas that we're looking in. We're still trying to buy a home in this area, but we're also looking at other areas now as well to keep our options open. What's the proper etiquette here? Thanks in advance! [link] [comments]  |
| Posted: 31 Oct 2021 09:22 AM PDT |
| Posted: 31 Oct 2021 07:43 PM PDT Hello all, Im buying a house the deadline to backout is end of month. The build wont be done until mid next year. Problem is we dont have a mortgage rate yet and it has to wait until closer to finished building. My concern is with the market, and if i lose out on other opportunities to find another house that may be back in the market early nxt year or if the rates will skyrocket by then. Any advice would be great. Thank u. [link] [comments]  |
| Submitting multiple offers simultaneously? California Posted: 31 Oct 2021 05:43 PM PDT So I live in Ca, and since competition is extremely fierce and we have lost numerous bids, my agent recommends I submit offers on multiple places at the same time. According to him nearly everyone in our local market submits multiple offers and there's a 3 day no fault walk away law for contracts in California so the risk of getting stuck between two accepted offers is nil. Anyone in RE can comment on whether the 3 day cooling off process or multiple offers being common is true? Edit: market is orange county [link] [comments]  |
| Purchasing house with Cash vs. Financing Posted: 31 Oct 2021 08:51 PM PDT I am interested in purchasing a house and trying to figure out tax situation. If I finance through my bank, I can take a deduction. If I pay cash, I can't. I would like to rent it out as rental property so I'm wondering if there are other options/deductions available. Thanks! [link] [comments]  |
| Posted: 31 Oct 2021 07:47 PM PDT Refinance investment properties or keep the debt on my house? I owe $475k on my house that is worth $720k. My rate is 2.75%. I owe nothing on three 4-plexes with $230k each. I can cash out refi at 4.75%. Should I cash out and pay off my house? I am thinking about this because the after tax difference will be much less than the 2% above, and if I ever get sued and somehow the LLC veil was pierced I would still be able to keep my house. What are your thoughts? I have always treated my house like a bank, but is that the right move? [link] [comments]  |
| Finding a lender with less than two year work history Posted: 31 Oct 2021 07:26 PM PDT Hey everyone. Just curious if I can get any info on this topic as stated in the title. I searched the internet and it seems like it is doable with a 20% or more down payment. But wanted to see if anyone had first hand experience or if they knew more about the details. I had a change of careers and have been in my new line of work (self-employed) for 6 months. Wondering if it's possible and how hard it would be to find a lender for a mortgage on my first home. I'm hoping to purchase a home sometime next year. Thanks in advance. [link] [comments]  |
| Posted: 31 Oct 2021 11:50 AM PDT Hello everyone! My better half is in contract for a condo at 25% down near the top of her price range and near the top of the market's prices. She was anticipating to have an appraisal done by the lender, and has an appraisal contingency in place. Right after going into contract the lender states that they aren't doing an appraisal because "she's putting down 25%". The lender said their "system" doesn't require an appraisal. She has a few concerns 1) she wants to make sure the condo is worth what she's paying 2) she feels like she's loosing a contingency because she's putting down 25% instead of 5. Thoughts? Is this normal? Options? [link] [comments]  |
| What do you feel are “high end” amenities? Posted: 31 Oct 2021 11:02 PM PDT What amenities attract you to a property, command a premium and add financial value? For example I find a well done covered deck adds a lot of value from the added usable space that is not included in a property's square footage. Similarly, a large walk in tool shed. [link] [comments]  |
| Posted: 31 Oct 2021 04:57 PM PDT I'm looking at a house that is, imo, underpriced and has 0 offers because it's on a flag lot. When I went to go look at it it looked fine to me. What am I missing? Why is a flag lot so bad? Would this be a bad financial decision for some reason? [link] [comments]  |
| Using online sites to track home purchase Posted: 31 Oct 2021 06:00 PM PDT Hello All, I have been using a couple of online realtor websites to track houses that come into the market and also to bookmark listings that I like and want to probably act on. I have not used their services for any other purpose and have my own buyer's agent that I work with. Irrespective of whether I use their realtor services or not, I have the following question. In case I bookmark a listing or use their tool to calculate various mortgage options, would they end up using that data to their benefit? I understand that they use the data to build a more realistic model and hopefully that's anonymized. However, I would like to get some clarity( if that's even possible) on a slightly different mode of usage. Say I bookmark a property and am deciding on quoting 15K more on it. I have been using the mortgage calculation tools to see what my possible monthly payment might be. Would that data be used to lets say advice the realtor's client to say put an offer on that property that's 16K more and hence a better offer? If I want to find this out, what is the best course of action? I can imagine that there are other data points that can give similar upperhand for the realtor's clients over people that use the site. Thank you in advance. [link] [comments]  |
| On the fence about whether I should make an offer, and how much. Posted: 31 Oct 2021 12:58 PM PDT 525K - 3 Bed/3 Bath - a dream home with just about anything I could want I make 130K and work remotely I have a preapproval in hand for 600K - an agent friend did a little digging and said there is no offer in hand yet Review of offers is slated to happen tomorrow I estimate if I covered mortgage, taxes, insurance… alone, that'd be around $3500 a month, but I'd have at least one roommate to help offset the cost Yes there is fear about the market, or if I lost my job this is in a rural area. I'd be banking that WFH continues into the future… Thoughts? [link] [comments]  |
| Posted: 31 Oct 2021 11:58 AM PDT |
| Thinking Of Selling My Recently Purchased Home - Freaking Out. Would LOVE Advice. Posted: 31 Oct 2021 12:47 PM PDT Bought a built in 2008 town-home in Chicago five months ago. Specs: Home Description: 1600 sq ft Beautiful City view (personal entire skyline roof deck), top north Chicago neighborhood with tons of growth, 1.5 car garage (this is rare), right by Target and other stores, 2 miles from the beach, 1.5miles from riverwalk. Listing Price: 630k Buying Price: 610k Remodel Cost (Complete floor LVP install, brand new whole interior paint): 30k Total Investment 640k We were given a gift of equity for the home (AMAZING) and put a down payment of 465k - so my loan is 140k currently. Current income with bonus: 150k Without going into specifics this house is not doing it for us. We were forced to buy remotely and very quickly due to a relocation. We are now thinking about moving out to the suburbs. We've been serial renters for so long that buying is very new to us. My current mortgage requires us to own the dwelling for at least a year - is there a way around this? We are extremely overwhelmed worried and I feel like a moron for buying/selling this home. It's beautiful, but very much not us now that we have lived in it. What advice can you give me on what I can do? Do you think selling would be hard? Have you ever heard of Mortgage companies allowing you to break the year clause? Any and all advice would be wonderful. [link] [comments]  |
| Condo vs House for saving most money/least hassle? Posted: 31 Oct 2021 05:32 PM PDT I've been trying to decide whether to buy a condo or house in between 150-250k range around various cities Dallas, Chicago, ATL, etc. I'm more set on a condo due to less commuting, less time/money on maintenance, and better convenience. I also don't need all the space of a house, and I feel that it increases heat, electricity, and insurance bills. However, sometimes the HOA can be more than all of these combined. The biggest negative I came across was the fact that neighbors are right next to you. If anybody has lived in a condo is having close neighbors really that bad? However, with a house most in the 200-230k are usually in bad neighborhoods even for smaller square footage. So, I would probably have to up my budget to around 275-325k range. Some condos can be expensive at around 225-250 even for 1 room sometimes though. But, overall I've found condos have been cheaper. My biggest reason for wanting a condo is having more time due to not mowing lawns and also the monotonous suburbanite living and 30min to 1hr long commutes. The only reason I can think of not getting one is the neighbors. Also, do you think it's possible to save more money with a condo or house, and which of the two is better considering these factors? I've grew up in the burbs my whole life and would like to live more in the city where there's more things to do. Idk if the neighbors deal is a complete no deal though? [link] [comments]  |
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