Realtor success story Real Estate |
- Realtor success story
- Mortgage rates about to hit a new high
- Realtor said to offer $50k due dilligence?!? (NC)
- Seeking Feedback on Listing Price
- First property
- Need advice: Backing off from a contract
- What would you wish your mortgage loan originator /lender can assist you with?
- New Construction in TX - Is it standard to include garage in sq ft?
- Sump pump but no basement?
- How do I get my house removed from Redfin/Zillow?
- Adding a bedroom
- The tale of two (identical) houses.
- Lender is requesting 12 months of property taxes as Prepaid item?
- Closing gift for realtor.
- Does Escrow/Title company care if I make a second earnest deposit?
- Best way to sell home while looking for replacement
- [MN] Forming an LLC for my rental company. Need some help with this complex tax scenario...
- Seller Tax Burden: Home Equity Gift
- Dumb question: why would an appraisal be lower than the purchase price?
- Looking to buy a house. Is it normal for a realtor to have a different realtor take us on the tours?
- How many properties would you own before you consider opening your own property management company to manage them ?
- which one is a better investment option A or B ?
| Posted: 04 Feb 2022 09:52 AM PST I see a lot of horror stories about realtors and "is this normal?" kind of stuff. I haven't closed yet, but my offers been accepted. Here's what my dude's done for me:
If your realtor pisses you off, drop them. My dude's been great. [link] [comments] |
| Mortgage rates about to hit a new high Posted: 04 Feb 2022 08:01 AM PST 10 year has cracked to 1.93% and inventory stays low. If these rates continue through spring will housing markets slow down? After todays job report interest rates will price in 5 rate hikes in 2022. [link] [comments] |
| Realtor said to offer $50k due dilligence?!? (NC) Posted: 04 Feb 2022 06:54 AM PST So my fiancé and I looked at a house last night in the Raleigh area (shout out to all the other NC people I've seen post here). Listed for $300k, "As Is" and would've been making a bid close to $350k Realtor told me that I should look for around a $50k Due diligence to give. Call me crazy, but that sounds insane. I've looked up what DD is typical for the area. No more than $10k. But in this seller's market, I don't know. Wondering now if I need a new realtor [link] [comments] |
| Seeking Feedback on Listing Price Posted: 04 Feb 2022 07:16 AM PST My husband and I are planning to list our home this month. We liked the realtor we purchased the home from originally about 5 years ago and reached out to her. Since our purchase, we have done a fair amount of updates/upgrades. We fully fenced in 1/2 an acre in the back with a privacy fence. Did a bathroom remodel with a jetted tub. Finished the basement with a 12'x23' game room. Put in a new HVAC (furnace and ac) in 2020. Installed gutter guards. Installed a dry sauna. New stainless steel appliances. Granite counters in kitchen and bathrooms. After contacting her she called us within a week, before even coming to see the house, and said she had a buyer who wanted to get in here. She said, "We'll see if we can price it to match their budget." This was a red flag that she was possibly looking out for the interests of the buyers, and not us. We did some of our own research prior to meeting with her (looking at sold listings similar to our home in the area in the past 6 months). Our findings from sold homes matching ours in size, lot, school, were in the $250-$270k range. As an example, one home that is almost twin to our home and less than 1 mile away, but a couple hundred sqf smaller, and an unfinished basement, no fence, slightly smaller lot, cheap formica counters, no second garage (we have an attached 2 car and detached 2.5 car) sold for $250k in 5 days. Another that was also similar, the same layout, but did have a finished basement, slightly larger lot, a couple hundred sqf larger, I felt it was a little nicer than ours overall, sold for $280k. The realtor gave us her market analysis and it was $190-$220k. Different resources online, based upon the last listing without any upgrades, tell us to price it at $230k. I spent some time going over her market analysis, and the homes she listed were not comparable. One of the homes she provided wasn't even sold, and was taken off the market. As an example, one home was 1200 sqf (vs ours at 2100 sqf not counting the finished basement), that looked to use cheap basic building supplies, sold at $225k, and was one she used for her comparison. Another, in a crappy part of town, not even close to our home, sold for $200k. I told her I believed she was underpricing, and she seemed offended and said people don't usually question her pricing. Am I crazy or is this realtor pricing our home for her coworkers buyer? Or to make a quick sale? Would there be any reason to underprice a home so much other than with a particular buyer in mind, or for a quick sale? Note, we do not need a quick sale. We can afford to pay this mortgage indefinitely should we need to. Are different real estate site estimates unreliable? Is it unreasonable to take that estimate based on the previous listing and then add some for the upgrades? We do have a second realtor coming to get another opinion. This is only the 2nd home I've ever sold and I feel like this realtor is not looking out for our best interests. [link] [comments] |
| Posted: 04 Feb 2022 09:58 AM PST Trying to understand if this is a good deal. Looking at a duplex and they're asking 135000. Says price is negotiable so that price could come down. Would put 20 percent down. Two tenants in place for 1100 a month. Tenants are responsible for electric and I would pay water and sewer. Taxes are 950 a year. Would this be a decent property to start with? [link] [comments] |
| Need advice: Backing off from a contract Posted: 04 Feb 2022 05:07 AM PST First time buyers. Our offer got accepted yesterday and a contract is in place. Both my wife and I couldn't sleep all night. We pushed our limits to max we can do on mortgage payments. We can pay with current jobs. But in case of a big crisis happens, we will have hard time paying it on one person salary. We have about 9 months of reserves. Now we are stressed out, thinking we made a big mistake. Thinking about backing off (breaching contract) with even leaving the 3% deposit (in contract) with the seller. Even with the 3% deposit gone can the seller sue us? Are there any other potential implications? [link] [comments] |
| What would you wish your mortgage loan originator /lender can assist you with? Posted: 04 Feb 2022 11:55 AM PST I saw many posts about realtor complaints and praises, but not much about the mortgage industry. What would be some frustration you experienced that could of being handled differently, and what are somethings you experienced that made you very impressed? [link] [comments] |
| New Construction in TX - Is it standard to include garage in sq ft? Posted: 04 Feb 2022 09:31 AM PST I signed on a new house recently with a very well-known builder and since they wouldn't give me measurements, I went and measured a house with the same floorplan that's currently under construction. After taking all the measurements I'm only calculating 1400 sq ft, but they advertised it as 2000 sq ft. If I include the garage, it adds up to 2000 sq ft. But this isn't considered livable space is it? If they are cheating me what options might I have? What happens if I tell appraiser my concern when I'm in the process of closing? [link] [comments] |
| Posted: 04 Feb 2022 09:25 AM PST I'm considering making an offer to buy a house, but I don't have the inspection results yet - and I am not sure it would resolve my question anyway. The owners recently redid the crawlspace and installed a sump pump, but the house has no basement and they claim they didn't do an inspection. We do live in a very rainy area so many homes around here have sump pumps… IF they have a basement. What could this indicate? Why would they install one without an inspection telling them they should? [link] [comments] |
| How do I get my house removed from Redfin/Zillow? Posted: 04 Feb 2022 11:37 AM PST I have noticed certain houses I have followed/favorited have gone missing from Redfin, not missing, but pictures are gone, description is gone, as well as price and history. How can I do this with my place? [link] [comments] |
| Posted: 04 Feb 2022 11:20 AM PST Hello r/realestate, Purchased a new construction single family home and I'm set to close in mid-July. When fully completed, it will be a 4 bed, 2 bath, with around ~1850 square feet. In the basement, there is a designated office space that is 9' x 9' (81 square feet) and will have an egress window included. From my understanding, a bedroom only needs to be at least 70-75 square feet, 7 feet in one direction, have an egress window, and have a closet. So all I would need is a closet, correct? My concerns are that a 5 bedroom, 2 bath house isn't common in this area (usually 4 bed/2-3 bath), and if all bedrooms were to be occupied, 3 people would be sharing a bathroom in the basement. It would likely be pretty cheap (maybe $1-2k) to add a closet and make it into a possible bedroom while still using it as an office space/etc. Which really would not matter until the time came to sell the house. Would it add any resale value? Or would the bed/bath ratio be too high? [link] [comments] |
| The tale of two (identical) houses. Posted: 04 Feb 2022 04:43 AM PST Long story short, we're going to see two homes tomorrow. They're right across the street from one another. Literally 40 feet between them in the same neighborhood. Cookie cutter homes. Here's the catch: One is completely updated while the other likely hasn't been touched since the day it was built (1999). House A (renovated) has had four owners. House B (untouched) has had one owner. And? They're the same price 😵💫 The updated house actually has a (much) larger lot. The reason why I'm mostly considering the NOT renovated one is because the renovated one across the street is very much renovated to someone else's decor taste. I'm talking red walls, black appliances, black ceilings. Picture 1995 "trying to be modern" is how one of my friends put it. But the untouched one, while it doesn't need MUCH work, needs a fence, new appliances, new flooring, fresh coat of paint. Which is a lot of money. The other home would need the same minus flooring and fence. A fence is a must with our two pups. With that in mind, does anyone have any idea why they'd be priced exactly the same? I can understand why the renovated home would be the price that it is, but I'm not so sure I understand the untouched house and it's price. Is there a rhyme or reason for this? Again, they are the same price but even the lots are incredibly different sizes. It seems like, to me, the untouched house would be going for less. Again, they're the exact same house. Same layout, the works. Going tomorrow to look at both, but wanted some input here. Texted our agent to ask about why the price is the same but wanted to ask here as well. ETA: decided against both homes after learning a few things. Thanks for weighing in, everyone! [link] [comments] |
| Lender is requesting 12 months of property taxes as Prepaid item? Posted: 04 Feb 2022 07:22 AM PST Hi all, on our loan estimate that details closing costs, the Prepaid section indicates 12 months of property taxes in advance. We are putting down 20% and choosing not to Escrow - The past 2 properties I have purchased, the lender did not require pre-payment of taxes. Is this allowed / normal to request a whole year of taxes even when we are choosing to escrow? F. Prepaids$11,166Homeowner's Insurance Premium (12 months)$1,088Prepaid Interest ($33.83 per day for 15 days @ 3.5%)$508Property Taxes (12 months)$9,570 **EDIT Close date is 3/31 and taxes are due 1/31 here** [link] [comments] |
| Posted: 04 Feb 2022 12:39 PM PST We closed on our house today and couldn't be more excited. We've worked with our realtor twice since August. He initially listed our first home and sold it in October. We reached out to him at the beginning of December after realizing we desperately needed to get back into a home and out of our in-law living situation. Anyway he mentioned after the closing that he wanted to stop by and give us a house warming gift. I feel like I should have something for him. I feel awkward accepting anything if I'm empty handed. Any suggestions? [link] [comments] |
| Does Escrow/Title company care if I make a second earnest deposit? Posted: 04 Feb 2022 12:27 PM PST Hi fam, I locked a new construction home in a not so desirable location. Put 25k towards escrow. Home should be ready in July, so my loan has not processed yet. A resale home caught my attention today, planning to make an offer. This resale home is in a desirable area. Both homes have the same escrow company? Will the escrow company inform the builder if I deposit money for the 2nd home, assuming I win the offer. Thanks [link] [comments] |
| Best way to sell home while looking for replacement Posted: 04 Feb 2022 12:10 PM PST I've talked this over with my agent but I'm looking to crowd source opinions as well on this question- What is the best/most lucrative/advantageous way to go about selling our house while simultaneously buying ourselves time to find our replacement house without having to move into a interim rental? We will be listing our house in a few weeks. Once listed we'll start earnestly searching for our "replacement" home. We need the proceeds from our current house in order to afford our replacement home. It's an extremely hot sellers market where I am. Our house is expected to sell quickly and with multiple offers over ask. Of course, we also expect to have a tough time landing a replacement home since inventory is low and competition is fierce. Some of the ideas my agent has mentioned: making our sale contingent on us finding our new home or stipulating a 60-90 day escrow and/or a 60 day rent-back agreement. While I absolutely desire the convenience and protection of a "replacement home" contingency, I'm worried we will severely limit the pool of buyers and eliminate a nice bidding war we might of had if we'd not added that contingency. At the same time I have two very young kids, one starting kinder in August, and the thought of having to find an apartment, move multiple times, pay exorbitant rent for who knows how long etc etc etc is extremely stressful. Opinions? Ideas? Things I'm not thinking of? [link] [comments] |
| [MN] Forming an LLC for my rental company. Need some help with this complex tax scenario... Posted: 04 Feb 2022 11:51 AM PST Hey everyone - apologies if this is the wrong subreddit, but I am not sure where else to post. My girlfriend and I currently have a house in Minneapolis, MN under a 30 year mortgage. We have been here for 3 years. We recently purchased a property as a vacation home up north in Brainerd area that we plan on using as an Airbnb. We also have that under a 30 year mortgage. Right now we are planning to move out of our house in Minneapolis, and move up north to the vacation house. We are going to set the house in Minneapolis up as a long-term rental and have it managed by a property management company. In the mean time, we will be working on getting the vacation house ready to be rented. Come this spring or early summer, we will start renting it out. When we have guests, we plan on staying in our RV (we have some land and will be out of their way) or vacationing in the nearby area with our RV. Eventually, we will transition this Airbnb business to a short term rental management company so we can quit our full time jobs and travel in our RV for awhile. Now comes the tricky part... we have been told (and agree) that we should set up an LLC for these businesses. We will transfer ownership of the vacation home to an LLC, transfer ownership of our Minneapolis home to the same LLC, and set up a a separate business bank account for said LLC to keep everything separate from our personal financials. We are concerned that by doing this, we (1) won't be able to homestead either of the properties, and (2) will lose our eligibility for excluding capital gains tax on the Minneapolis home if we choose to sell within the next 3 years. Is this true? That second one (about capital gains tax) is very important, because we are likely to sell within the next 3 years to move to a different state. I am wondering if anyone has found themselves in a similar scenario or if they can point us in the right direction. [link] [comments] |
| Seller Tax Burden: Home Equity Gift Posted: 04 Feb 2022 11:50 AM PST Does anyone have resources to help me determine the tax burden a seller will face when providing a home equity gift? Trying to determine the seller tax burden for these scenarios:
Thank you! [link] [comments] |
| Dumb question: why would an appraisal be lower than the purchase price? Posted: 04 Feb 2022 11:44 AM PST If a home is purchased at say 750k, wouldn't the appraiser see that as proof that the home is worth 750k? [link] [comments] |
| Looking to buy a house. Is it normal for a realtor to have a different realtor take us on the tours? Posted: 04 Feb 2022 07:25 AM PST First time home buyer. I've toured houses once before and I have a few i'm touring tomorrow. Both last time and for tomorrow, the realtor i've been speaking with isn't actually doing the tour. Someone else from the same company is handling it. Is that normal? It doesn't seem like it matters but I have no idea if it's really some sort of red flag I should be looking out for or not. Are there any implications for having someone else do the tour? [link] [comments] |
| Posted: 04 Feb 2022 11:07 AM PST |
| which one is a better investment option A or B ? Posted: 04 Feb 2022 11:06 AM PST A: buy a house of 4 bedroom split it out to for separate rooms and rent each by themselves ? B: buy an expensive flat and rent it out ? both options would go on the market for the same rent price. The house is in a very good area but the flat is in city-center. Which one would be harder to manage or have potentially more expenses ? Thank you [link] [comments] |
| You are subscribed to email updates from HomeOwners & Investors. To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
| Google, 1600 Amphitheatre Parkway, Mountain View, CA 94043, United States | |
No comments:
Post a Comment