Am I missing something? Real Estate |
- Am I missing something?
- Million dollar neighborhoods MN
- Evergrande Shares Halted Without Explaination Amid Renewed Crisis
- With increased housing cost, property tax is adding up quickly [CA]
- Sold an aging investment property left to me by a relative, but don't want to get out of housing. However I don't want to be a landlord, what are my options?
- Buying a zillow owned home
- Secondary market for Pacaso owners?
- RMLS should add ISP options Utilities lists
- Rent control is bad. (Change my mind)
- Submitted an offer... now what?
- Looking for help re: sweat equity
- Sell with tenant in place or vacant?
- Question to realtors…
- Changed to part time a week before closing?
- My Parents'home
- Duplex vs SFH Investment Property?
- Question about buying land thats mostly woods (ga)
- Property Tax Calculation for Homes Bought at Auction [CA]
- is a REMT just a mREIT?
- Are there services that help document improvements in a property?
- Ouch
- Looking for perspectives on how to handle house ownership when only one partner is the homeowner
- Paint colors for selling house?
- Can you guys give me your opinion on this property? Lancaster California - House with tennis court
| Posted: 02 Jan 2022 12:43 PM PST I am watching duplexes that have sold in the last year and I don't understand how people are purchasing these as rental properties and actually making money. Purchase prices are so high that rent seems to be lagging behind. Here's one example of many that I've seen: A duplex is for sale in a decent area, and it's in pretty good shape (lots of recent renovations, generally major costs are up to date) . It is 2Bd/1Ba units on each side of and is renting for $1250 a side. It just sold for $415,000. The rent wouldn't even be enough to cover an FHA mortgage payment let alone cover operating costs. How are people making money on something like this? Edit- I guess i failed to mention I'm looking at an FHA loan because I intend to live in half the duplex while renting the other half. [link] [comments] |
| Million dollar neighborhoods MN Posted: 02 Jan 2022 07:33 PM PST Rant.. Over the past 2 years Minnesota suburban new build neighborhoods have gone up almost 2x. 500k 5 bedroom new builds are now 900+. Builders who were building 500-700k homes for the upper middle class are now building 1-2 MILLION dollar homes in the suburbs. Is this common across the nation? I apologize if this topic has been discussed a lot. I just don't understand how this has happened and how it will be affected when interest rates rise. How can families who were buying 500k homes 2 years ago all of a sudden be buying 1.5m dollar homes? Yes, interest rates are low but is there anything else to it? [link] [comments] |
| Evergrande Shares Halted Without Explaination Amid Renewed Crisis Posted: 02 Jan 2022 08:35 PM PST www.bbc.com/news/business-59855881 Article with no pay wall: https://www.reddit.com/r/Economics/comments/ruse24/evergrande_shares_halted_in_fresh_crisis/ This is getting interesting... [link] [comments] |
| With increased housing cost, property tax is adding up quickly [CA] Posted: 02 Jan 2022 09:06 PM PST Is there a way around property tax such other way to write off ( I'm thinking additional ways to 10k itemized cap)? Because I understand that with the current situation of high cost + low interest = old days of lower cost+high interest. However, if you add property tax into the equation, the monthly payment actually becomes nuts. Like my nearby cities, a normal median house price at around 700k ~ 800k, you are talking about adding almost 1k/month to your monthly, is it sustainable to most new house owners? ---edit--- exatly my thoughts, as theres really no other way to go around it, to add to the other post on this forum talking about rents vs mortgage I see that theres a big gap inbetween the two. Most of houses around my place is about 3000~3500 / month mortage now renting for more than that or even around that is a challenge as I live in a suburb CA, not partical driving into LA / Irvine/ big cities for work (some do). I guess I just don't see where we heading really. [link] [comments] |
| Posted: 02 Jan 2022 09:24 PM PST Recently got rid of an investment property that was about to turn 100, but I really like the idea of that passive income and diversification as compared to the stock market (already heavily invested). What are some options for owning property without being a direct landlord? I'm assuming one would be to buy property and then hire a property manager. Are there any completely passive real estate investments where I'm paying into a fund or company that manages properties? Or is something like that a bad idea? Would like to put this extra cash somewhere before it rots away, and I don't want to throw it all at the S&P 500. Thanks for any ideas! [link] [comments] |
| Posted: 02 Jan 2022 01:31 PM PST It seems like a lot of homes in my area that are on the market are being sold by Zillow. It makes me hesitant when I see a home being sold by Zillow. For those that have bought a Zillow owned home what has been your experience? Give me the good, bad, and ugly! [link] [comments] |
| Secondary market for Pacaso owners? Posted: 03 Jan 2022 12:33 AM PST Pacaso prohibits you from selling your 1/8th share during the first 12 months of "ownership". After that 12 months is up the other 7 owners get chance to buy your share and if nobody does you can hire a real estate agent to sell it on the open market. They've been around for about 12 months now, has anyone come across a current owner selling their share? I'm curious to see how much they lost. [link] [comments] |
| RMLS should add ISP options Utilities lists Posted: 02 Jan 2022 02:53 PM PST With all the people relocating because they have permanent WFH jobs (myself included), RMLS should add Internet Service Provider options to their list of Utilities. While they're at it, they may as well include FEMA flood data too. Buyers are working from home and prepping for climate change. I want to be able to search for homes/lots with 1 gig and minimal flood risk. Time for RMLS to step up its metadata game! [link] [comments] |
| Rent control is bad. (Change my mind) Posted: 02 Jan 2022 07:03 PM PST |
| Submitted an offer... now what? Posted: 02 Jan 2022 07:54 PM PST I got pre approved for a 226k loan but found a house listed for 160k and the offer was accepted, I have an fha loan and I have exactly the amount listed on the loan letter which includes the loan payment and due diligence (I live in NC) what is the next step? [link] [comments] |
| Looking for help re: sweat equity Posted: 02 Jan 2022 09:31 PM PST My husband and I are looking to purchase a home with another couple. They have a large down payment, we have a much smaller sum, but we also have the skills to do renovations which they do not. We have spoken about part of our contribution being our sweat equity. I'm hoping someone has had experience with something like this and could give some insight on navigating the paperwork and equity division. I understand that many people will think this is a bad idea. That's fine. Please provide helpful advise or insight if you have experience with a similar scenario. We will of course have a lawyer draw up a contract so that we are all protected. I'm not interested in hearing how this is a bad idea unless you're willing to have an informative, open minded discussion or have a better solution to getting into a completely insane housing market. Much appreciated. Thanks! [link] [comments] |
| Sell with tenant in place or vacant? Posted: 02 Jan 2022 06:26 PM PST Good evening. I have a 3/1, 1300 ft2 house that I have a mortgage on that I rent. It is currently vacant with a tenant due to sign in the next few days. I am considering selling it as the prices are high and the supply for houses is non existent. Would it be more desirable to sell the home with a tenant in place or vacant? Much appreciated. [link] [comments] |
| Posted: 02 Jan 2022 04:51 PM PST Have you sold any homes that were furnished? I will be selling my condo fully furnished but all of the furnishings look like someone staged the home. All of the furniture will be less than a year old. I also have 2 75" inch TV's mounted onto the bedroom and living room wall with a floating entertainment center. All of the wires/cords are hidden behind the wall. The unit is basically turn key. Does this effect my selling price? I assume the appraisal will be lower than what I'm listing for because the furnishing will not be included. How do I approach a realtor in terms of telling them I want to sell the unit furnished? Does it make it harder for you realtors or make it easier to sell a turn key unit? [link] [comments] |
| Changed to part time a week before closing? Posted: 02 Jan 2022 01:47 PM PST My parent had health issues come up. I have to take care of them for a while until they get better. This forced me to reduce my hours at work. Will I still be able to close? [link] [comments] |
| Posted: 02 Jan 2022 08:27 PM PST Unfortunately, in the last year both of my parents have past away. I have finally got through the funeral processes but now I need to tackle the house woes. Both my parents did not like to talk about money or property so I have no clue if the house is underwater or really any information on its status (loan, repairs etc.) How do I find out any of this information? What are my next steps? Thank you for all your help! [link] [comments] |
| Duplex vs SFH Investment Property? Posted: 02 Jan 2022 08:14 PM PST Any tips on choosing a SFH vs Duplex for an investment property targeted at cash flow? The area I'm buying in won't appreciate much, but it's cheap and yields high rent. From what I'm seeing, the cash flow seem to be either equal or close for the two options as each unit in duplexes are smaller/cheaper. Let me know what you think! [link] [comments] |
| Question about buying land thats mostly woods (ga) Posted: 02 Jan 2022 05:48 PM PST I'm looking at land thats farther out, and a lot of what I'm finding is all wooded lots. Anybody know what it costs to clear wood lot? Aren't there some circumstances where loggers will pay you to come cut the trees down for lumber? [link] [comments] |
| Property Tax Calculation for Homes Bought at Auction [CA] Posted: 02 Jan 2022 11:45 PM PST This may be an obvious one, but as far as I know, in California, property taxes are calculated by the Sale Price. Does this matter if the property is bought on the Courthouse steps for less than the current market value/loan amount owed on the house? I.E. Auction Min. Bid is $200K, Lien/Mortgage Outstanding is $400K, Market Value is $600K Would property taxes if purchased at $200K price be $2K per year? [link] [comments] |
| Posted: 02 Jan 2022 06:54 PM PST I couldn't find a straight answer on google but i'm just trying to clarify something in my notes. TIA [link] [comments] |
| Are there services that help document improvements in a property? Posted: 02 Jan 2022 10:30 PM PST I've been a homeowner (not investment property) for 20 years, I didn't do a good job of keeping receipts of my property which I paid $425k for and just sold for $1.2mm - I read that it is possible to use photo evidence (I have property pics when I purchased it and when I sold it) to document improvements in lieu of receipts - any advice here? Are there services that would have an expert opinion of the improvements that were made on impact to the overall value? Is this something an appraiser could do? Has anyone done this successfully and reduced their IRS burden this way? Tip: Keep your documents in a safe place. [link] [comments] |
| Posted: 02 Jan 2022 06:40 PM PST After navigating a tough Colorado market, finally went under contract on a home. Lasted one day. Lender calls the next day and notified us that the county we intended to purchase has a max FHA loan limit that was $15k less than the purchase price of the home. Deal terminated. Wishing we, the lender, or the realtor, would have been aware of this before trying to purchase a home that was not available to us. [link] [comments] |
| Looking for perspectives on how to handle house ownership when only one partner is the homeowner Posted: 02 Jan 2022 01:09 PM PST Repost from r/relationship_advice, it seems more relevant here: Hello! This isn't a source of disagreement or anything like that, just looking for others' thoughts. Also INFO: this is not in the US. I (27F) have been with my partner (31M) for about 5 years now. Living together about 4. Everything's great and fine. Partner has recently come into a sizeable inheritance. It's not in the insane ballparks you see sometimes on these advice threads, but it's enough for a huge down-payment on a property. It would actually be enough to cover 70-90% of the cost in a lot of other places, but for the moment we both need to live in a very HCOL city. The "problem" is that I am in no position to buy into this property. I'm still a student (postgrad, finishing this year), I have basically no savings whatsoever, and there is zero chance of me ever coming into a windfall like this. I hope to eventually be able to save for a much smaller down payment, and paying less on "rent" as a result of my partner's property ownership could actually get me there faster. How should I (and he) navigate this? Should we just half the monthly mortgage payments? Is it bad to contribute to his equity without having my own? I mean I'm already contributing to someone else's equity by paying rent, and I have a vested interest in my partner doing well. Should we write a lease and have me be his "tenant"? Is there a way/is it a good idea for me to gain equity in the property as I pay in monthly? Would be delighted to hear any and all perspectives! [link] [comments] |
| Paint colors for selling house? Posted: 02 Jan 2022 05:49 PM PST Can I get your opinions on whether I should repaint before selling? My living room, Kitchen, Hallways, and Sunroom are all Repose Gray by Sherwin Williams. It's a nice neutral gray that I think looks good for today's trends/market. My question is regarding my other rooms, if I should leave them or also paint them repose. I know funky personalized colors are generally not great for selling. I don't think what I've done is too out there, but I'm of course a biased since it's my own style, so please let me know if you think I should keep these colors or repaint. • Bathroom #1 - Aleutian Sherwin Williams • Bathroom #2 - Wall with vanity is Sockeye Sherwin Williams, other walls are white • Bedroom #1 - Peppercorn Sherwin Williams • Bedroom #2 - Indigo Batik Sherwin Williams • Bedroom #3 - Agreeable Gray Behr with Cape Verde Sherwin Williams Accent wall • Laundry room - Pale Rose Sherwin Williams [link] [comments] |
| Can you guys give me your opinion on this property? Lancaster California - House with tennis court Posted: 02 Jan 2022 09:32 PM PST Palmdale has a lot of empty land, id say 50% of the city is just desert, So prices are cheap compared to other parts of California, im thinking about purchasing a ranch style estate, that includes a tennis court as having a house with a tennis court is my dream. This is the house: https://www.zillow.com/homedetails/1709-W-Avenue-L12-Lancaster-CA-93534/20280306_zpid/ Do you guys think its better to purchase 2 acres of land and build my own house/tennis court, even though it would be extremely hard due to no builders being located in palmdale. Or if I purchase this. What do you guys think of this house? Im thinking about offering 700-800k and seeing if it gets accepted. There are other houses in palmdale much cheaper but do not have a tennis court, would a tennis court affect my resale value in the future? As I feel like the price derivs around the tennis court as theres much cheaper houses in palmdale for the square footage of the house. [link] [comments] |
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