|
Jealous Cow posted:Do you mean it’s worth 50% of what you paid for it? no he said it's 200% deprecated, that means a newer house came out that made his house obsolete, and then a still newer one came out that made that one obsolete, so he's 2x deprecated which is 200%
|
#
?
Sep 20, 2018 01:30
|
|
|
|
| # ? Jun 5, 2024 01:45 |
|
|
Like all the outlets stopped working and the fixtures stopped accepting new bulbs.
|
|
#
?
Sep 20, 2018 03:46
|
|
|
Jealous Cow posted:Do you mean it’s worth 50% of what you paid for it? Yeah maybe I used the wrong terminology, I was pooping. I bought the house for $142k, it dropped to around $40k value in 2009. Now it's back up around $140k. Edit - Christ I said deprecated instead of depreciated. I can't even blame autocorrect on that one.
|
|
#
?
Sep 20, 2018 04:47
|
|
|
I don't think the housing market is going to blow up as spectacularly this time because the mortgage-backed securities aren't a huge nuke waiting to go off. They were shoveling bad loans out the door as fast as they could for nearly a decade before it blew up. The thing that's going to set off the market crash is somewhere else, probably tech stocks or something we haven't heard of yet. It may drive prices down but I don't think we're going to see quite as dramatic of a decline. In house news, the buyers don't like how our water heater is strapped in and are making us fix it before they get the loan. So annoying.
|
|
#
?
Sep 20, 2018 05:59
|
|
|
sullat posted:I don't think the housing market is going to blow up as spectacularly this time because the mortgage-backed securities aren't a huge nuke waiting to go off. They were shoveling bad loans out the door as fast as they could for nearly a decade before it blew up. The thing that's going to set off the market crash is somewhere else, probably tech stocks or something we haven't heard of yet. It may drive prices down but I don't think we're going to see quite as dramatic of a decline. Some jurisdictions, most notably all of California, require double staffing on the water heater. If the home is in one of those jurisdictions then their lender won't give them a loan unless it is fixed.
|
|
#
?
Sep 20, 2018 07:31
|
|
|
HEY NONG MAN posted:Like all the outlets stopped working and the fixtures stopped accepting new bulbs. The ceilings are 4 feet tall and now average humans are taller. Stupid nutrition!
|
|
#
?
Sep 20, 2018 11:27
|
|
|
The appraiser missed one of the 2 tracts in the property description and getting that fixed is pushing out our closing. I am sooooo annoyed. I pointed out the error last week and was told it was NBD since it already appraised over our purchase price but suddenly this week it needs to be fixed or the UW won’t sign off. So instead of closing Friday it’s turned into “we don’t know”. Aarrgg!
|
|
#
?
Sep 20, 2018 12:39
|
|
|
Medullah posted:Yeah maybe I used the wrong terminology, I was pooping. I bought the house for $142k, it dropped to around $40k value in 2009. Now it's back up around $140k. (142 - 40) / 142
|
|
#
?
Sep 20, 2018 12:56
|
|
|
Uranium 235 posted:it lost 72% of its value, not 200% Yeah I'm bad at math. I again blame poop posting. Thank you all for shaming me. 
|
|
#
?
Sep 20, 2018 13:32
|
|
|
My Zestiment has become my new NYT Election needle because it jumps around by 10% a week. This is a joke. That thing is worthless.
|
|
#
?
Sep 20, 2018 16:12
|
|
|
.....and before even the first payment my mortgage has been sold to J.P. Morgan according to the quaint paper mail I got today. No word on who will service it or if I need to change all of the poo poo I already set up. E: Also, this showed up yesterday from the recorder of deeds shoved into an envelope with my recording confirmation:  Along with that day's batch of mail were THREE different notices from scammers telling me I basically need to pay right around what they said to get a copy of the deed. loving public records scammers. My county is pretty awesome. Motronic fucked around with this message at 01:37 on Sep 21, 2018 |
|
#
?
Sep 21, 2018 01:32
|
|
|
Yeah, when we closed, everyone involved was emphasizing all of the different ways people will try to scam you when you buy a house. We haven't seen the deed scams yet, but we know they're coming.
|
|
#
?
Sep 21, 2018 02:22
|
|
|
I got two of those too. My favorite part was where they (presumably due to some legal obligation) spelled out that you could get all the same information from the clerk's office for much cheaper.
|
|
#
?
Sep 21, 2018 02:28
|
|
|
Nibble posted:I got two of those too. My favorite part was where they (presumably due to some legal obligation) spelled out that you could get all the same information from the clerk's office for much cheaper. To some extent all three said this or only went as far as to say it was SUGGESTED that you pay them for this, not that you were required to. They are walking a fine line and I hope they either cross it and get prosecuted or just die in a fire because while I'm aware of this stuff, a lot of people aren't. (if they were this would no longer be a thing)
|
|
#
?
Sep 21, 2018 03:55
|
|
|
Like, do people not get copies of the deed at closing? My attorney warned me about the scam but he also handed me a copy of the deed, the original going to the clerk to be recorded. I get that people don't understand that recording the deed is what makes the property yours, but it's not like you shouldn't already be sitting on the document that you're being asked to pay for, so I'm not sure who's supposed to fall for this.
|
|
#
?
Sep 21, 2018 05:12
|
|
|
We get tons of that junk, and on top of that it's doubled since my wife has her own LLC so we get a bunch of similar scam stuff targeted at small businesses.
|
|
#
?
Sep 21, 2018 13:33
|
|
|
kw0134 posted:I'm not sure who's supposed to fall for this. Well, you know that they were dumb enough to buy a house, so they probably get a pretty good response rate. 
|
|
#
?
Sep 21, 2018 14:53
|
|
|
Once you move your house into your trust the junk mail becomes really easy to spot. No one addresses mail as HAWK FAMILY TRUST H110HAWK TRSTEE etc. You also get a fresh batch of that crap from the deed you record. As I recall it's important to have a copy of the actual recorded deed with the transaction number so that you can verify it was done correctly or in order if you had to do a chain of deeds.
|
|
#
?
Sep 21, 2018 15:36
|
|
|
Your county recorder’s office will usually sell you copies for like a dollar a page, maybe more to be certified, but $90 for a copy of a deed? What is it, 3 sections worth of land across 4 counties with a legal description that reads like a treasure map to Farmer Joe’s birch trees from Farmer John’s blueberry patch?
|
|
#
?
Sep 21, 2018 20:00
|
|
|
crazypeltast52 posted:Your county recorder’s office will usually sell you copies for like a dollar a page, maybe more to be certified, but $90 for a copy of a deed? What is it, 3 sections worth of land across 4 counties with a legal description that reads like a treasure map to Farmer Joe’s birch trees from Farmer John’s blueberry patch? * plus county fees. It's a scam. They probably make around 90% margin on the people who bite, and probably closer to 50% once you account for the trashed mailings. Then they hit you with the mortgage life insurance scam.
|
|
#
?
Sep 21, 2018 20:24
|
|
|
H110Hawk posted:* plus county fees. Oil!, the book There Will Be Blood was based on, includes a couple recording scams, one by a guy filing quitclaims from someone who then “skipped town” before things close and shaking down the buyer to clear the title.
|
|
#
?
Sep 21, 2018 20:43
|
|
|
Motronic posted:Along with that day's batch of mail were THREE different notices from scammers telling me I basically need to pay right around what they said to get a copy of the deed. Did they include business reply envelopes? I always made sure to send them a random stuffing of other junk mail - grocery fliers, shreddings from other scammers, and stuff like that. They may or may not have gotten a couple shakes of glitter depending on what my mood was like that day.
|
|
#
?
Sep 21, 2018 20:47
|
|
|
Yond Cassius posted:Did they include business reply envelopes? I always made sure to send them a random stuffing of other junk mail - grocery fliers, shreddings from other scammers, and stuff like that. They may or may not have gotten a couple shakes of glitter depending on what my mood was like that day. I can neither confirm nor deny sending those back, after carefully making sure nothing identifiable was included. Support the post office!
|
|
#
?
Sep 21, 2018 21:22
|
|
|
crazypeltast52 posted:Your county recorder’s office will usually sell you copies for like a dollar a page, maybe more to be certified, but $90 for a copy of a deed? What is it, 3 sections worth of land across 4 counties with a legal description that reads like a treasure map to Farmer Joe’s birch trees from Farmer John’s blueberry patch? My deed just says Elephantheads place over by the big church, you can't miss it look for the junk cars and scowling neighbors.
|
|
#
?
Sep 22, 2018 11:53
|
|
|
All the other houses around me all have legal descriptions that say, after the “situated in the township of blah, now known as what, part of whatever”: Known as being sublot n of Old Dude’s subdivision. This is because my neighborhood was a community built by some dude in the late 1800s, just like modern subdivisions, with model homes and pre-planned designs. However, the guy who built my house was a loving baller because my lot is about 2.5 times bigger than all the other lots in the development, and my legal description starts with: Known as being Sublots X, Y, and part of Sublot Z of Old Dude’s subdivision. Bro talked the guy into selling him 2.5 lots on a major corner and letting him build off-plan. My house is totally custom. I also have a restrictive covenant that prevents me from “imbibing of or storing spirits” which is pretty fun.
|
|
#
?
Sep 22, 2018 13:59
|
|
|
Jealous Cow posted:I also have a restrictive covenant that prevents me from “imbibing of or storing spirits” which is pretty fun. Is a covenant like that still enforceable? There are covenants in Vancouver about not selling to certain races although they are obviously totally ignored now.
|
|
#
?
Sep 22, 2018 14:50
|
|
|
Evis posted:Is a covenant like that still enforceable? There are covenants in Vancouver about not selling to certain races although they are obviously totally ignored now. I guess someone could file a lawsuit trying to get the county to enforce the covenant, but I’m pretty sure it’d get tossed out. It’s serious enough that my title insurer specifically exempted it from coverage. If I were to be found in violation of the covenant the prescription per the deed is forfeiture to the local clergy lol
|
|
#
?
Sep 22, 2018 14:53
|
|
|
Jealous Cow posted:I guess someone could file a lawsuit trying to get the county to enforce the covenant, but I’m pretty sure it’d get tossed out. I guess don’t tell the local padre about that, he may decide he needs a new house!
|
|
#
?
Sep 22, 2018 17:38
|
|
|
Jealous Cow posted:I guess someone could file a lawsuit trying to get the county to enforce the covenant, but I’m pretty sure it’d get tossed out.
|
|
#
?
Sep 22, 2018 18:28
|
|
|
Dik Hz posted:Wait, so the penalty of the covenant is to give your liquor to the local priest? I'm totally picturing an Anglican priest chuckling as he sips a martini made from confiscated booze. The penalty is forfeiture of the property itself to “the clergyman”, whoever the gently caress that is. The covenant was written into a deed that conveyed a few hundred acres to the guy who formed my subdivision, so all the homes around here have the same covenant. It’s dated 1891 or 1881, I forget. It’s handwritten in super crazy small cursive and really hard to read.
|
|
#
?
Sep 22, 2018 19:44
|
|
|
There's a home for sale listed on Zillow in my area that in the listing any potential buyer must take a local Christian churches homebuying seminar program to bid on the house. Wouldn't that be discrimination of some kind? Like, not interested in the house because of this bizarre poo poo, but it got me wondering about the legality. I know in my state you cant discriminate on who you rent to based on a bunch of criteria, but no clue how that applied to home sales.
|
|
|
#
?
Sep 22, 2018 19:47
|
|
|
That Works posted:There's a home for sale listed on Zillow in my area that in the listing any potential buyer must take a local Christian churches homebuying seminar program to bid on the house. Wouldn't that be discrimination of some kind? Seems sketchy, but might be defensible by saying “the course is open to people of all faiths and just happens to be provided by a Christian church”. It does sound like a way to filter out on-Christians though, but I doubt anyone will ever attempt to litigate it.
|
|
#
?
Sep 22, 2018 20:20
|
|
|
Jealous Cow posted:All the other houses around me all have legal descriptions that say, after the “situated in the township of blah, now known as what, part of whatever”: Be sure to not drink or harbor any ghosts, phantoms, or wraiths Skeletons are OK
|
|
#
?
Sep 22, 2018 21:29
|
|
|
I don't understand why you would care who buys your house unless you are going to stay living next to it or something.
|
|
#
?
Sep 22, 2018 21:47
|
|
|
Elephanthead posted:I don't understand why you would care who buys your house unless you are going to stay living next to it or something. In today's day of social media your life can easily be ruined by the new owners, YouTube and a blacklight.
|
|
#
?
Sep 22, 2018 21:51
|
|
|
So, the time may have come where I have an opportunity to buy a home with my company's help (they cover closing costs/realtor fees). I have about 40k in pure cash, with the option to borrow from family. I make around 90k and am looking for a house around 250k, which seems to be doable in the market I'm looking at. The market itself seems pretty stable, with not a lot of churn on houses, but I wanted to know if the market in non-bubble cities is also too inflated to make it worth it. Any thoughts?
|
|
#
?
Sep 28, 2018 02:40
|
|
|
250k seems kind of high when your income is 90k. Do you have a plan to save money if you buy a 250k house?
|
|
#
?
Sep 28, 2018 03:33
|
|
|
Blindeye posted:I make around 90k and am looking for a house around 250k, which seems to be doable in the market I'm looking at. The market itself seems pretty stable, with not a lot of churn on houses, but I wanted to know if the market in non-bubble cities is also too inflated to make it worth it. It sounds like you're in a pretty sweet spot, in that you make a decent salary in an area where houses aren't outrageously priced and/or you have realistic expectations. Still, it's more of a personal decision: do you plan on staying in the house for 7+ years, and are you prepared for the expenses/work involved in owning your own home. If you're good with both of those things, you live in a stable area, and you buy within your means, it can be a great decision from a financial and lifestyle perspective. As an example, I live in an area that isn't cheap, but isn't San Fransisco either (median ~450K). Housing has recovered to pre-crash levels or higher, which means, generally speaking, that the only people that got screwed were those that bought at the peak and had to sell shortly after or bought way outside their means. If I were to speculate, I think house prices may slow a bit in growth (no more double digit percentage increases year-over-year), but I highly doubt there will be much of a downward correction, if any. The salaries around here support those prices (in theory), and there's no shortage of new, luxury construction attempting to fetch double that median. Obviously, YMMV, and it is highly dependent on the area.
|
|
#
?
Sep 28, 2018 03:33
|
|
|
Koivunen posted:250k seems kind of high when your income is 90k. Do you have a plan to save money if you buy a 250k house? I am not counting my partner's income since we're not married, but I have been able to save about 1k/month with a rent/utilities cost of 2400/mo for the past two years. In the near term I'm up for a promotion, but if they don't deliver getting a 15k/year pay bump is pretty much in the cards. Suffice to say the houses I'm looking at mean about 1200/mo in mortgage, property tax and PMI, plus 200-300-ish in electric and 200-300 ish in water, and maybe 400ish in other miscellaneous surprise expenses. B-Nasty posted:It sounds like you're in a pretty sweet spot, in that you make a decent salary in an area where houses aren't outrageously priced and/or you have realistic expectations. Still, it's more of a personal decision: do you plan on staying in the house for 7+ years, and are you prepared for the expenses/work involved in owning your own home. If you're good with both of those things, you live in a stable area, and you buy within your means, it can be a great decision from a financial and lifestyle perspective. I'm on a 5 year commitment, with options to renew. If they don't renew and want me to move back, they chip in 10% of the sale cost. Much of the community has only been around for 80 years, with a fair amount of <20 year old housing if I really want something that wouldn't need major interior renovations. That and the dry climate means houses in general don't ever have flooding issues or mold/rot/wear, so it seems bad construction is the only big surprise to guard against. Mainly it's the fact that my current job I am never buying but with 5% up front and 2 months of temp housing, and then 10% to selling the house on the back end, I feel like the opportunity to build credit over paying a landlord makes sense. Naturally, I'm expecting to have missed something....
|
|
#
?
Sep 28, 2018 03:54
|
|
|
|
| # ? Jun 5, 2024 01:45 |
|
|
What if you lose your job, and with it the house sale credit? Could you find similar-paying work in the same area?
|
|
#
?
Sep 28, 2018 04:08
|
|