- Who else is checking Zillow every hour to see if there’s a new listing? And wondering if they should just throw caution to the wind & just pull out all stops to win a bidding war? Well that plus considering just renting till it crashes every other 30minutes. Ugh ugh worst buyers market ever.
- Check from closing bounced
- Sales to first time homebuyers falls to 27% in January
- Back in 2009 the U.S. had an excess of 1.9 million vacant housing units. As of the fourth quarter of 2021 there was an undersupply of 1.8 million vacant units @Lenkiefer
- My dad died and now I'm the homeowner
- Should I buy a more expensive condo if it has a better chance to go up in value
- Foreign Investors
- Why realtor tells you to waive appraisal and can still use loan contingency?
- How am I supposed to compete?
- Is it just normal to get cash offer letters?
- [FREE eBook] How to Market Yourself and Gain Leads on Social Media
- Need some realistic input
- Earnest money and appraisal contingency question
- Best way to thank a good realtor?
- Doesn’t seem to be getting better
- foreclosure homes
- Any recent experience with Lennar Mortgage VA Loan appraisal?
- What does your math show on this sale and rent listing? I’m seeing a 37% downpayment needed to breakeven, what are people doing?
- A former tenant filed a claim on LTB and I have a hearing soon. Is there anything I should prepare for? In Ontario
- This is bizarre.. fake house nextdoor.
- My BFF and I are buying a duplex together. Issues ahead ????
- Odd rental proposition, is it legal?
- HOA Easement Impact Lending?
- Selling home, and my agent didn't include a clause in the offer about my new home closing contingency. Am I screwed?
- Just Discovered Foundation Problems Post-Close. What are my options?
| Posted: 18 Feb 2022 01:07 PM PST |
| Posted: 18 Feb 2022 05:20 PM PST Long story short, our real estate attorney sent us the check from the sale of our house. We went to deposit it and it bounced. Yes, it should have been a certified bank check, but we really can't control that. We got in touch with him this morning, he acted surprised and said he'd handle it. He has since ghosted us. Our selling agent went to his office ( we're no longer in the area) and it was dark and locked. What in the world do we do? The only thing I can think of is to go report this to the police, since it seems like he stole $77k from us. This seems extreme, but this is a pretty unbelievable situation. Any other options for us? We've been putting offers on houses banking on this money for a down payment. We're in CT. [link] [comments] |
| Sales to first time homebuyers falls to 27% in January Posted: 18 Feb 2022 01:59 PM PST First-time homebuyers are getting squeezed out by investors Sales to first time homebuyers falls to 27% in January. Under more normal conditions, first time homebuyers would make up about 40% of sales. Buyers offering cash made up a full 27% of all sales in January, up from 19% the year before. Record high home prices and low inventory were already making things hard for first-time homebuyers. But new numbers show that investors are driving even more people away from homeownership. A recent Zillow report found that in 481 U.S. cities, the value of a typical home is now at least $1 million. "The number of cities that crossed the $1 million threshold in 2021 is almost triple that of cities reaching those heights in 2020, underscoring a record-setting year of home appreciation," according to the report. [link] [comments] |
| Posted: 18 Feb 2022 06:13 AM PST https://mobile.twitter.com/lenkiefer/status/1488922812731564035?s=21 This caculated the undersupply by comparing the current homeowner/renter vacancy rate (very low) to its historical average then computed how many more vacant units you would need to add to get vacancy back to historical average (dotted lines in chart) [link] [comments] |
| My dad died and now I'm the homeowner Posted: 18 Feb 2022 11:13 PM PST Help please. My dad died in IL lived there owned a home there when it was purchased in 2019 I was put on it as owner when he passed, he died 2021 I own it now. I live in California now have since 2020. I was told that I need to sign it over to a sibling because I can't own the home there and live in Cali because I will get extra taxes or something idk I'm unsure of details. I'm currently in 10,000 debt in Cali and there was some fear of something happening to the house cuz of my debt... I'm unsure and need to know if I should put sibling as sole owner and not be on at all or put sibling as primary and stay secondary. Also what's the cheapest way to transfer the house over. [link] [comments] |
| Should I buy a more expensive condo if it has a better chance to go up in value Posted: 18 Feb 2022 06:42 PM PST I live in Hawaii and im looking to buy my first condo. The problem is that the prices in any decent area are really high. I try to look for better deals (250K to 400K w mortgage around $2200 to $2700) and my real estate agent always comes back and says condos in that area do not appreciate much. My question is, should I consider buying something that's more expensive ($550-$750K w mortgage around $3-$4000), if it's going to appreciate more over time? I know with my salary I can cover the payments of a more expensive place but im not sure it make sense to buy something more affordable but likely the value won't go up over time? [link] [comments] |
| Posted: 19 Feb 2022 03:40 AM PST Why is it that the United States of America allows foreign investors to purchase real estate? Has there been any real push to get this abolished? This not only makes it unfair to USA citizens but also imposes a pretty concerning security risk. Thoughts? [link] [comments] |
| Why realtor tells you to waive appraisal and can still use loan contingency? Posted: 18 Feb 2022 07:44 PM PST I was told this and I have seen others told the same. Seller wants appraisal contingency waived and realtor says thats fine, we have a way to back out with the loan contingency if appraised lower. As far as I am aware, the loan contingency cannot be used to back out of contract based on appraisal if the appraisal contingency has been waived. I won't waive personally but I am curious to know what they might mean? [link] [comments] |
| Posted: 19 Feb 2022 02:42 AM PST I'm a first time home buyer and I just lost a house because the seller decided to not extend the contract and they had a cash backup offer. It was my dream home, 4 acres, small cbs house, for 225,000. I lost money, time, effort. It fit my income and everything. I was under contract, approved by underwriters and last minute was denied a conventional loan due to a bad roof on the home which I had planned to fix anyways. I am so down. It sucks. Am I suppose to just wait till the market cools down? It feels like its impossible to buy a home. With rates increasing to pre-covid levels now its even worse. I found out about cash to close programs, that basically give you cash to buy a home, and then you get financing to pay them back. Thinking about doing that. Anybody got any tips to get over this loss? I feel more hurt and down than anything else. Did I dodge a bullet or did i get screwed over by the system? [link] [comments] |
| Is it just normal to get cash offer letters? Posted: 19 Feb 2022 02:24 AM PST I bought a piece of land that I want to build a house on. It is in the desert of Cali. I just got a letter that someone found me on the public record and wants to buy my land. Is that just normal that people find people with property and land on public record? Anything I can do about my address not being out there? [link] [comments] |
| [FREE eBook] How to Market Yourself and Gain Leads on Social Media Posted: 19 Feb 2022 02:23 AM PST In this eBook, How to Market Yourself and Gain Leads on Social Media, you'll get information on gaining leads on social media and which platforms to use to increase clients and grow your business. Download the eBook here: https://www.vaned.com/blog/ebook-real-estate-social-media-marketing/ [link] [comments] |
| Posted: 18 Feb 2022 10:11 PM PST Learn a lot from this sub and appreciate your input in advance. Newbie trying to learn Found almost dream-ish townhome new build(tool brothers) at $750k when all said and done with site premium+minimum upgrades. Our situation: First home purchase Household income: $250k Car payment: $670 "Other" monthly expenses: $2000 No other debts Credit score: 760 for both me and my wife Current saving: $45k (saving 6.5k a month) We understand our current situation puts us into stretching very very thin and waiting to save enough probably makes sense, but only few homes left and the home purchase price actually went up 25k in last 4weeks.. Got below pre-approval from TBI on a jumbo loan and wanted to get some "real" feedback from yall. https://ibb.co/Pg4CmKG[pre-approval](https://ibb.co/Pg4CmKG) Pretty stable career, and don't ask me why toll brothers ;). Thanks! [link] [comments] |
| Earnest money and appraisal contingency question Posted: 18 Feb 2022 07:12 PM PST First time home buyer here and trying to understand if I'm getting duped somehow. Seller is a lawyer and seller's agent is related to seller. I made an offer for the house at list price, and they countered saying that in the event of a low appraisal resulting in me backing out, they want to keep part of my earnest money. I still have my due diligence clause and financial contingency to back out, so I'm confused as to how they could ever get any of my earnest money? (Financial and appraisal contingency deadlines are the same.) My agent is also confused by their counteroffer. Is the seller doing some CYA conditions or should I be worried? [link] [comments] |
| Best way to thank a good realtor? Posted: 18 Feb 2022 07:11 PM PST Our buyer agent in Flagstaff AZ was very on top of it. Worked through a frustrating experience with a non-responsive listing agent, took time to communicate with us for months before we started placing offers, explained neighborhood pros and cons throughout town, warned us away from bad constructions, recommended good maintenance companies, and didn't even make us sign an exclusivity agreement. Very professional and trustworthy. What's the best way to thank an agent who works that hard for you? [link] [comments] |
| Doesn’t seem to be getting better Posted: 18 Feb 2022 10:06 AM PST |
| Posted: 18 Feb 2022 06:09 PM PST does anyone know of a website that has info about foreclosure homes? [link] [comments] |
| Any recent experience with Lennar Mortgage VA Loan appraisal? Posted: 18 Feb 2022 05:50 PM PST Just signed a purchase agreement for a lennar townhome in the Tampa area. Just curious, has anyone had recent experience with new construction loans recently or more specifically for a va loan appraisal with Lennar builds? Dozens of the same model have already been sold and are set to finish spring/summer. I assume it's not the end-all be all, but wouldn't attached builds in the same community be exact comps? The market is hot right now as everyone knows, but if they're consistently selling for a certain price range with about less than 10k of upgrades in the community, appraisal gaps shouldn't be too much of a worry right? The surrounding area as far as resales has been selling well too. Thanks for the info and insight. [link] [comments] |
| Posted: 18 Feb 2022 03:00 PM PST Completed sale and rent listing Assumptions: 4.125% for a 30 year investment loan rate locked last month, .875% property tax, $1k insurance, and 25% of asking rent for all other operating expenses. This comes out to a $180k just to breakeven and not bleed cash. That seems insane. Not to mention they paid well over asking for the price point of this type of home. [link] [comments] |
| Posted: 18 Feb 2022 07:36 PM PST |
| This is bizarre.. fake house nextdoor. Posted: 18 Feb 2022 01:38 PM PST I don't really like the sound of the structure being a ventilation system for the train. Would you buy the house next door? [link] [comments] |
| My BFF and I are buying a duplex together. Issues ahead ???? Posted: 18 Feb 2022 07:25 AM PST My best friend and I both live in San Diego, where we simply can't afford a home on our owns even after saving our entire lives & growing up here. We decided to buy a duplex so one would occupy each unit and we'd be neighborhoods, not roommates. Well we JUST got an accepted offer and now things are real. We'd put down the same down payment, and everything would be even. Ideally this property will be investment, we live in it for a few years then move on and rent it out for a profit. MY QUESTION HERE IS: Now I keep hearing things like "you sure you wanna buy with a friend? That's make things bad down the road". I mean people buy with their spouses all the time and that's two people. I know that's a huge difference lol but assuming we are both mature women who've been friends since age 15, what are the real risks here ? I feel like ppl just assume we would fight but if we don't, what am I not seeing. Remember it is a duplex, that makes it better ya? Haha Begging for feedback. Thank you! [link] [comments] |
| Odd rental proposition, is it legal? Posted: 18 Feb 2022 10:57 PM PST Asking on behalf of my cousin (21 yo female) going to New York for tertiary education. She recently had someone offer to take her on as a tenant, but that person would also pay her back 100% of whatever she paid a week later (unofficially and in cash). This would mean the landlord makes nothing, as far as I know. I find this quite suspicious; anyone has an idea what this is about? Thanks in advance. [link] [comments] |
| Posted: 18 Feb 2022 07:00 PM PST Hey guys, wanted to ask if lenders will have an issue lending on a property with an HOA easement (storm drain)? Not sure if it matters but it's a jumbo loan. [link] [comments] |
| Posted: 18 Feb 2022 06:49 AM PST I listed my home for sale and got offers within the first day. I liked one, and accepted it. In my first meeting with my realtor, I told her we had already signed a P&S on a new property, and needed to be sure it closed and any sale of my current home had to be contingent on that. (The new home is new construction and we are worried about a certificate of occupancy being ready in time). Our realtor understood this, and put it in our MLS listing. "Sale is subject to seller closing on new home." When I got the offer, I noticed there was no specific language about this. I called my agent, who called the buyer's agent. She told me that "oh, it's in the MLS listing so you are covered. Also, the buyer's agent said they don't put this language in offers, but we will ensure it's in the P&S. " The offer expiration was minutes away, so I took my realtor's advice and signed. Of course, the very first thing the attorney told me the next day was "oh, if it's not in the offer, it can't make it into purchase and sale." We had the MLS attached to the offer, and I thought this was something we could correct. Turns out the buyer is an investor with a "1031" exchange and a time limit to do so. They are now not willing to negotiate this and want a drop-dead date that we have to vacate, no matter what. My agent is claiming he negotiated in bad faith and tricked her. I'm worried I have liability for signing the offer, even if not having signed P&S. I'm willing to give the buyer back his earnest money (we later got several more offers for the same amount after signing the first one) and start again. But I'm furious with my agent. I want to fire her, but I'm worried even that will give me liability. My hope is that the buyer and agent are in breach of the offer (due to the MLS listing being attached to the offer and the language in the listing, as well as the buyer's agent conversation with my agent) and we can all just walk away. But is there any liability here I don't know about? Financial liability to the attorney and/or either of the realtors? Can the new buyer make this hard on me if I don't sign P&S? I'm pretty angry at my realtor but think she should be able to unwind this. [link] [comments] |
| Just Discovered Foundation Problems Post-Close. What are my options? Posted: 18 Feb 2022 04:07 PM PST Hi /r/realestate. First off, thank you to everyone here - the info I found on this sub was incredibly helpful during the purchase of this home back in September of last year in a crazy market. We just pulled up the carpet in our new house and found a concerning level of moisture seeping up the through the slab foundation in two of the three bedrooms. The spots you see in the photos are damp to the touch and the carpet pad that was over those spots is also damp. The significant amount of efflorescence leads me to believe this has been going on for quite some time. I know the previous owners replaced the carpet, so it's possible they knew about it, but it wasn't disclosed and they also redid the landscaping recently, so it is possible it is a result of that and the moisture wasn't present when they changed out their carpet. I'm looking for guidance on what to do next. I don't believe this is something that would be covered by our homeowners policy as it predates the policy, and it is definitely not covered by our buyers insurance. This will definitely be a costly fix, and it doesn't seem fair that we should be responsible, but I'm not sure what our options are for going after the seller or what. Any advice is very welcome and appreciated. [link] [comments] |
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