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Does anyone have experience putting something to live in on a piece of property? Any sort of pro/con list with potential pricing when comparing having an actual house built vs. a prefab vs. just a Doublewide. This is for some land that is zoned agriculturally in unincorporated Sonoma county, CA. Already has electricity, well and 5 person Septic and leach field. The land has a 5 bedroom perc.
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Apr 15, 2014 20:10
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Prefab when it is on land you own it is no different than a site built. Double wide cannot use a normal loan unless brand new then sometimes it can. Mobile homes will usually only appreciate for the land but the home depreciates.
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Apr 15, 2014 23:22
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Finally taking one of the final steps into adulthood and house shopping. I've only been looking for about a month, but holy poo poo houses are selling fast in the area I'm shopping in KC. Looked at one today that I absolutely loved(built in 1926, updated wiring, newer HVAC, everything in excellent shape) that had been on the market for a whopping 3 days that went under contract as I was looking at it. That's the second time that has happened now. Guess I'm gonna have to move a little quicker when it comes to scheduling appointments to look at houses. The fact that there have only been about 5 houses that are within my criteria that have gone up for sale in the last 3 or so weeks isn't really helping.
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Apr 16, 2014 03:19
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fknlo posted:Finally taking one of the final steps into adulthood and house shopping. I've only been looking for about a month, but holy poo poo houses are selling fast in the area I'm shopping in KC. Looked at one today that I absolutely loved(built in 1926, updated wiring, newer HVAC, everything in excellent shape) that had been on the market for a whopping 3 days that went under contract as I was looking at it. That's the second time that has happened now. Guess I'm gonna have to move a little quicker when it comes to scheduling appointments to look at houses. The fact that there have only been about 5 houses that are within my criteria that have gone up for sale in the last 3 or so weeks isn't really helping. Which area of KC are you looking? Things are really ramping up in the older parts of the city. My real estate friends have been seeing places in PV and BS under contract within the day its listed. In the burbs, The developers I work with literally cannot plat a piece of land fast enough before their lots are sold.
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Apr 16, 2014 13:34
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fishhooked posted:Which area of KC are you looking? Things are really ramping up in the older parts of the city. My real estate friends have been seeing places in PV and BS under contract within the day its listed. In the burbs, The developers I work with literally cannot plat a piece of land fast enough before their lots are sold. Brookside and Waldo. Anything in decent shape at a remotely reasonable price is going within a week. Pretty much anything on the market longer than that is overpriced and/or needs a lot of work.
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Apr 16, 2014 13:57
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A bit off topic, but what's driving the growth in KC right now? I grew up in Topeka, but there's not much work for me there. Moving to KC/Lenexa/Overland Park would put me about 90 minutes away from family so it's always something I've thought about since I've had kids. I'm in IT so I need a big corporate IT sector to find work.
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Apr 16, 2014 15:43
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skipdogg posted:A bit off topic, but what's driving the growth in KC right now? I grew up in Topeka, but there's not much work for me there. Moving to KC/Lenexa/Overland Park would put me about 90 minutes away from family so it's always something I've thought about since I've had kids. I'm in IT so I need a big corporate IT sector to find work. Garmin was hiring like crazy when I left 1 year ago. The parking lot was maxed out with summer interns around. I'm not sure what phase Sprint was in, hire or fire. Cerner is constantly growing. I'd guess the big construction/civil companies (Black & Veatch, Burns & McD) are doing well, too.
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Apr 16, 2014 19:28
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put in our offer for a 840sqft house on a 7100sqft lot in redwood city. house listed at 800k, we put in offer at 840k, because we are just that stupid. just got a counter at 900 told them to go gently caress themselves basically. pure insanity. some lucky person will get a $1100/sqft suburban bungalo.
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Apr 16, 2014 19:54
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couldcareless posted:Appraisal came back, appraised 12,000 over our offer, but we can't go to closing because the spare bathroom needs some grouting, a toilet, and a vanity. Streamline 203k might be an option since you're FHA already anyway. But your bank probably won't want to do it.
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Apr 16, 2014 22:19
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nebby posted:put in our offer for a 840sqft house on a 7100sqft lot in redwood city. house listed at 800k, we put in offer at 840k, because we are just that stupid. just got a counter at 900 told them to go gently caress themselves basically. pure insanity. some lucky person will get a $1100/sqft suburban bungalo. holy loving poo poo
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Apr 16, 2014 22:19
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nebby posted:put in our offer for a 840sqft house on a 7100sqft lot in redwood city. house listed at 800k, we put in offer at 840k, because we are just that stupid. just got a counter at 900 told them to go gently caress themselves basically. pure insanity. some lucky person will get a $1100/sqft suburban bungalo. That's pure insanity. I know the bay area is desirable to live in, but that poo poo is crazy. No wonder so many tech firms are expanding to Austin and other parts of Texas. 840K here will get you a massive house here. Or 4 really nice regular houses.
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Apr 16, 2014 22:27
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PuTTY riot posted:Streamline 203k might be an option since you're FHA already anyway. But your bank probably won't want to do it. My first thought was "gently caress this, let's go conv and use the 5K in repair cash at closing the sellers were giving us towards closing costs." Lender told me even if I switched to conv right now they would still nail me with the same problem (I still think this is a load of poo poo). I inquired on a 203K loan and they said not only do they not offer them anymore, she insists that a 203K wouldn't cover such a small repair. Whatever, we are gonna go over there this weekend and grout it up and put the fixtures in ourselves. Had the realtor push closing back a week so we can get that done in the cheapest possible way to make the appraiser happy. House hunting has brought out a full range of emotions for me at this point, straight up rage is the capstone.
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Apr 16, 2014 22:58
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couldcareless posted:My first thought was "gently caress this, let's go conv and use the 5K in repair cash at closing the sellers were giving us towards closing costs." I also suspect you're being fibbed to. It's possible if the house's overall condition is poor, your appraiser was terrible, the lender is hardcore about home condition, or a combination.
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Apr 16, 2014 23:07
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skipdogg posted:That's pure insanity. I know the bay area is desirable to live in, but that poo poo is crazy. No wonder so many tech firms are expanding to Austin and other parts of Texas. 840K here will get you a massive house here. Or 4 really nice regular houses.
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Apr 16, 2014 23:13
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canyoneer posted:I also suspect you're being fibbed to. It's possible if the house's overall condition is poor, your appraiser was terrible, the lender is hardcore about home condition, or a combination. Gotta agree with this. There's no minimum with a streamline 203k loan. Sure, that bank may not do 203ks anymore, but there's a bank that will. And yeah, shouldn't matter at all with a conventional.
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Apr 17, 2014 00:00
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Can the sellers not buy a poo poo hole vanity and toilet off craigslist and throw some vinyl floor down to make them happy? Just don't secure it down much and then you can change it when you get it.
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Apr 17, 2014 00:07
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So I got my purchase addendum back from Freddie Mac and there are a few mistakes: - closing date is 18 days later than verbally agreed, and 30 days later than in my written offer - financing says I'll be using HomeSteps when in reality I indicated 30 year comv on my offer - in the additional items it says "Seller to pay up to 3% BCC", since BCC means "buyer's closing costs" does that open the door for them to pay just the closing costs and not the prepaid items? Both agents (mine and the sellers) are saying I should sign it as is and then submit another addendum to correct the first two items, and that the last thing isn't an issue and BCC will cover prepaids as well. Thoughts? I'm hearing a lot of "that's just Freddie".
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Apr 17, 2014 00:09
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canyoneer posted:I also suspect you're being fibbed to. It's possible if the house's overall condition is poor, your appraiser was terrible, the lender is hardcore about home condition, or a combination. PuTTY riot posted:Gotta agree with this. There's no minimum with a streamline 203k loan. Sure, that bank may not do 203ks anymore, but there's a bank that will. And yeah, shouldn't matter at all with a conventional. I figure I am. The lender is a former employer of mine and the current employer of my future mother in law. I'm at the point where I don't care, the loan is already set for closing and the check is cut, it's just waiting for the bathroom issue to be sorted. Christobevii3 posted:Can the sellers not buy a poo poo hole vanity and toilet off craigslist and throw some vinyl floor down to make them happy? Just don't secure it down much and then you can change it when you get it. That's essentially what's gonna happen. I might even go there this weekend and throw some grout up myself and paint the ceiling. I'll probably pick up a cheap toilet and vanity and just hire someone to put in the fixtures. It's not an expensive list nor a huge one for that matter, it's just menial crap.
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Apr 17, 2014 02:17
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nebby posted:put in our offer for a 840sqft house on a 7100sqft lot in redwood city. house listed at 800k, we put in offer at 840k, because we are just that stupid. just got a counter at 900 told them to go gently caress themselves basically. pure insanity. some lucky person will get a $1100/sqft suburban bungalo. I will never complain about DC-area prices again. Holy poo poo.
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Apr 17, 2014 02:18
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Taco Pirate posted:I will never complain about DC-area prices again. Holy poo poo.
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Apr 17, 2014 03:11
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skipdogg posted:A bit off topic, but what's driving the growth in KC right now? I grew up in Topeka, but there's not much work for me there. Moving to KC/Lenexa/Overland Park would put me about 90 minutes away from family so it's always something I've thought about since I've had kids. I'm in IT so I need a big corporate IT sector to find work. I know Cerner is big driver of the IT jobs here in KC. I've heard good and bad things about working for them, do some research before you make a leap. fishhooked posted:Things are really ramping up in the older parts of the city. My real estate friends have been seeing places in PV and BS under contract within the day its listed. In the burbs, The developers I work with literally cannot plat a piece of land fast enough before their lots are sold. To expand on this a bit, my realtor was talking about several homes in south Johnson County having multiple offers the day the listing goes up. There are tons of houses out there for sale with new developments springing up even further south on a regular basis, so I'm not really sure what's driving that kind of stuff in that part of the city. I work in the burbs but can't handle living in some lovely tract housing HOA nightmare neighborhood. Everyone I work with thinks I'm crazy for living where I do now and wanting to buy in the city.
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Apr 17, 2014 03:29
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adorai posted:I am smugly smiling from ... illinois.
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Apr 17, 2014 03:37
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fknlo posted:I know Cerner is big driver of the IT jobs here in KC. I've heard good and bad things about working for them, do some research before you make a leap. On that note, Cerner's also developing the Bannister Mall lots into a rather large office park, so I expect property values down south to trend upward in the coming years as a thousand more engineers flock to the surrounding area.
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Apr 17, 2014 03:53
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fknlo posted:Brookside and Waldo. Anything in decent shape at a remotely reasonable price is going within a week. Pretty much anything on the market longer than that is overpriced and/or needs a lot of work. Good area, we got lucky and picked up a house a few years ago just off of 70th and Wornall. This was right as demand was starting to take off again in 2012 so nothing near to what its like today. I know its tough so good luck to you!
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Apr 17, 2014 13:09
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My wife and I are going to put an offer on a new construction very soon. We're buying in the suburbs of Cincinnati and got pretty lucky with our timing in finding this house. One of her friends who grew up in Cincy is very opposed to the location the house is in because it used to be a "bad" suburb. But that was a long time ago, and everything we can see/research about the area doesn't live up to its old reputation. (It was the headquarters of the southern Ohio chapter of the KKK until the 70s, which is the bad reputation) There are a lot of new affluent housing developments springing up in the area, and it is in a really good school system. Our realtor, who I trust very much, says that the problems in the area don't exist anymore and he thinks our friend is being biased towards the area she lives. (Cincinnati can be very clique-y, with opinions being passed down through generations) Needless to say, my wife is now worried that we're moving into the murder capital of the world or something. Anyone have advice on calming her down? This property is exactly what we want, the location is great for us, and the fact that it's new construction is just icing on the cake. I know this question is only semi-related to house buying, but I figure some of you have gone through similar situations.
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Apr 17, 2014 15:03
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Taco Pirate posted:I will never complain about DC-area prices again. Holy poo poo. As much as prices suck in Boston, I have to remind myself it's not as bad as SF/NY.
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Apr 17, 2014 15:09
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Good-Natured Filth posted:Cincinnati home I've lived in Cincinnati my whole life but I'm only 26 so I couldn't even tell you where the KKK was headquartered in the 70s. I'm having trouble imagining a suburb with a good school district but high crime. Do you mind specifically mentioning the suburb? Oddly enough, there's a guy that just posted in the PYF purchase thread who is building a new home in Cincinnati, but I checked and it wasn't you.
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Apr 17, 2014 15:24
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mtr posted:I've lived in Cincinnati my whole life but I'm only 26 so I couldn't even tell you where the KKK was headquartered in the 70s. I'm having trouble imagining a suburb with a good school district but high crime. Do you mind specifically mentioning the suburb? The house is outside of South Lebanon (in Kings school district). It's at the very edge of what people would consider "Cincinnati."
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Apr 17, 2014 16:00
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Looking at Austin in 78701 / 03 / 04. Someone come over and brain me with a clawhammer please.
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Apr 17, 2014 19:00
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Trabant posted:Looking at Austin in 78701 / 03 / 04. Someone come over and brain me with a clawhammer please. You poor bastard. Could be worth it though if you work close and don't have to deal with traffic on I-35 or MoPac. I commute from Schertz to NW Austin a few times a week and I end up taking the toll road all the way around just to keep my sanity. Well worth the 6 bucks and extra 18 miles.
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Apr 17, 2014 19:16
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Trabant posted:Looking at Austin in 78701 / 03 / 04. Someone come over and brain me with a clawhammer please. About to close on a house in Austin, so I feel your pain. Still nowhere near as bad as SF/NY, but I'm trying not to think about what I could have bought for the money if I was still living in the midwest.
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Apr 17, 2014 19:43
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lumbergill posted:About to close on a house in Austin, so I feel your pain. Still nowhere near as bad as SF/NY, but I'm trying not to think about what I could have bought for the money if I was still living in the midwest. Is it that bad in Austin? I'm in San Jose and want to relocate to Austin in the long run since I'm originally from Texas. 500k here won't get you poo poo, but I was hoping that it would get me a decent 3-4 bedroom house with good schools around Austin.
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Apr 17, 2014 22:42
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Daremyth posted:Is it that bad in Austin? I'm in San Jose and want to relocate to Austin in the long run since I'm originally from Texas. It's expensive compared with the rest of Texas and large swathes of the country, but if you're coming from San Jose I don't think you'd be shocked. You can definitely get a decent 3-4 bedroom in a decent area with good schools within the city limits with that budget (my house-to-be meets that criteria and is definitely less than 500K). But not in the neighborhoods Trabant is looking at, unless you want to live next to the freeway.
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Apr 17, 2014 23:12
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It's nowhere near as bad as San Jose, that's for sure. It's just that the Austin spike in prices (or at least the spike I think I see) is teeth-grindingly awful. It can't possibly be justified, despite the growth and jobs and everything else. Then again, I am looking at the hot zipcodes, so I'm not helping myself. Let me put it this way: I fully own a 4-bed/3-bath house in Pflugerville. I'm looking to move because Pflugerville. To get what I consider a nice place (i.e. won't require a truckload more cash in renovations) in one of those zip codes, I'm looking at houses that cost twice as much for half the square footage. I think $500k will get you a very, very nice place. If you go beyond the trappings of downtown and hipster central, it should still get you a goddamn mansion (Westlake excluded). But after 7.5 years of living in Pflugerville, I'm done with suburbs. Odds are everyone realizes I'm complaining about the most basic aspects of buying real estate here, but there's nothing like seriously looking at prices (JFC, condo HOA fees!) to raise your blood pressure. edit: lumbergill posted:But not in the neighborhoods Trabant is looking at, unless you want to live next to the freeway. [teeth grinding intensifies]
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Apr 17, 2014 23:15
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Good-Natured Filth posted:my wife is now worried that we're moving into the murder capital of the world or something. Anyone have advice on calming her down? Use the power of the internet to see if it's actually the murder capital of the world. Google suggests http://www.city-data.com/ or http://www.crimereports.com/ lumbergill posted:but I'm trying not to think about what I could have bought for the money if I was still living in the midwest. For me, the answer was a rather private 2 acre wooded lot with a 10 minute commute 
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Apr 17, 2014 23:24
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I'm looking to buy a house nearly anywhere in South Austin (minus Dove Springs... Until they get another HEB at least) for under $175k. I started looking over a year ago, have made 5 offers and no luck. Listing prices are crazy enough, but then these small houses go for many thousands more. It sucks seeing houses you want to actually live in go up for rent a few weeks later. Don't even get me started on some of the flips I've seen... As a native Austinite I'm super bitter.
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Apr 18, 2014 05:30
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Going to put in another offer in next week, we live in SF and were thinking about putting down all cash to be more competitive, and get a cash out refinancing later. (We lost our previous offer because someone else also agreed to the 10% increase counter-offer AND were able to close within 7 days--basically paying cash.) Has anyone done this or know how it works? From research it seems like the 60-day waiting period is not longer applicable, and we will be able to apply for the refinancing as soon as we close on the house. How would taxes work though? Would this be considered an equity loan instead of a mortgage? Then my tax deductions will go way down?
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Apr 18, 2014 19:05
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jomiel posted:Going to put in another offer in next week, we live in SF and were thinking about putting down all cash to be more competitive, and get a cash out refinancing later. (We lost our previous offer because someone else also agreed to the 10% increase counter-offer AND were able to close within 7 days--basically paying cash.) Has anyone done this or know how it works? From research it seems like the 60-day waiting period is not longer applicable, and we will be able to apply for the refinancing as soon as we close on the house. How would taxes work though? Would this be considered an equity loan instead of a mortgage? Then my tax deductions will go way down? There's a way to get fully approved so the bank can get the mortgage done in something like 6 days. I was talking to a loan officer about this and he recomends it for short sales where sometimes the approving bank gives you 10 days to settle. Not sure what this is called. And interest from a home equity loan is deductible the same way mortgage interest is.
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Apr 18, 2014 21:39
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I'm currently in the process of trying to get into a home in the greater Denver metro area with a preapproved budget up to $230k. While my current apartment is in a great location, my rent has jumped from $765 in 2009 to $1100+ in 2014, and I want a dog, a backyard and walls that I'm not sharing with people I don't know. My LO has told me that the payment I'm currently making for my apartment will only increase by a few hundred a month to cover a mortgage and insurance on a house, so to me it's a no brainer that it's time to move up. I have enough saved to put 5% down so I'm going for a conventional loan. I realize everything's going to be more expensive and I'm preparing myself for the inevitabilities of home repair. I guess I feel fairly lucky compared to some of these stories that I've read through with trying to afford a home in areas like SF/Austin/DC/NY, though my general experience to this point is that I can get a lovely beater with repairs needed for that price in and around Westminster, Broomfield, Northglenn and Superior or I can live 30 miles north in Longmont and get an updated home built in 1990s/2000s. There's a few popping up here and there that are nice but they are snapped up in what seems like just hours of them being listed. I'm trying to figure out how to submit offers more quickly. I work in Boulder so I'm trying to keep my commute 20 miles or less so I don't go crazy driving so much every day. What's the general strategy for submitting offers on homes? I feel like there's a good amount of upward pressure on the market here in Colorado but I have no idea how that should impact an offer, or what is a good starting point. ex post facho fucked around with this message at 22:05 on Apr 18, 2014 |
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Apr 18, 2014 21:59
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a shameful boehner posted:I'm currently in the process of trying to get into a home in the greater Denver metro area with a preapproved budget up to $230k. While my current apartment is in a great location, my rent has jumped from $765 in 2009 to $1100+ in 2014, and I want a dog, a backyard and walls that I'm not sharing with people I don't know. My LO has told me that the payment I'm currently making for my apartment will only increase by a few hundred a month to cover a mortgage and insurance on a house, so to me it's a no brainer that it's time to move up. I have enough saved to put 5% down so I'm going for a conventional loan. I realize everything's going to be more expensive and I'm preparing myself for the inevitabilities of home repair. I just bought in the south Denver area, though my experience was a little atypical because I got under contract in February, when the market wasn't as nutso due to seasonal reasons. That said, start by looking at a lot of places to really hammer out your priorities and must-haves in a home and get a feel for the market in general. That should help you act quickly when you do see a place that matches your criteria. Keep in mind, though, that just because a place matches your criteria doesn't mean it's worth $XYZ,000. I ended up buying my house for $20k less than it was initially listed for, because that's what it was worth (both to me, and according to the market). In short, bid what you think the house is worth, or slightly less. Then go get beers with your friends and don't think about it again until you hear back. If the counteroffer is above what the house is worth, either move on or stick to your guns. Repeat as necessary. Remember that there are always more houses just coming on the market.
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Apr 18, 2014 22:47
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