|
Motronic posted:Mini-ex with a thumb please, thank you. Now stay out of the way while I mangle this thing into a series of dumpsters. When my neighbor did his tear down the demo guys had both a larger excavator with a thumb to pull the aluminum siding off the second floor and knock it down and a mini to sort out the scrappable stuff into piles The operator was an artist.
|
#
?
Feb 22, 2021 01:15
|
|
|
|
| # ? May 15, 2024 08:44 |
|
|
PCjr sidecar posted:The operator was an artist. I am a mere amateur. The people who run those things every day are amazing.
|
|
#
?
Feb 22, 2021 01:25
|
|
|
Motronic posted:ntan1 is more familiar with that area than I am. This is like when one of my friends out there asked me for advice on his house and it onvolved roofing and those clay tiles. I'm like...yeah, not your guy. That poo poo doesn't work out here so I have no idea. A long time - decks that were constructed a in the 1980s and 1990s could easily last all the way up to now, assuming some degree of treatment and the redwood quality being very good. Note that Redwood is incredibly water resistant even untreated and repels termites very well. Siding can easily last 30+ years if it is made out of redwood. Basically, the temperate, non-freezing weather with only 2-3 months of rain means that there's a good chance some of the siding there is original to the house. The problem is that in at least one image, you see pictures of water looking like it's gotten through the treatment and starting to affect the wood. This may partially explain some of the mold issues in the insulation -- the water-resistant barrier may have degraded over time, causing water to eventually soak through the exterior wood and into some of the inside studs + sheathing. Unless all of the siding is maintained and retreated every 5-6 years, then that siding would eventually deteriorate. That's what might have happened here. Anyway, A deck expert/restoration expert in the SFBA is probably what you'd need to consult here. Standard people who do stucco or normal siding may not know the answer here, as most houses are done using way worse materials today.
|
|
#
?
Feb 22, 2021 03:40
|
|
|
Understanding most people here are not lawyers and not making any major decisions based only on forum legal advice: what is the general consensus onoffers on multiple houses? Market here is hot and most places review the same day of the week, meaning 10 rejected offers is 10 weeks of househunting so far. I've been told by other people that it's almost a necessity here, but I'm not sure about the risk of potentially getting two 'accepted' offers, even with contingencies on place. Agent is not recommending it but it looks like it isn't necessarily illegal, though unethical. Unfortunately we're working in a market where 899k homes are selling for 1.05M in cash and sellers are asking (and getting) offers with 90 day rent backs to go buy another house first and we're trying to optimize our time, but also not put ourselves in a bad situation or waste seller time.
|
|
#
?
Feb 22, 2021 08:29
|
|
|
So then, what exactly is the worst period for home construction 1940s - Today? From what it sounds like in this thread, it’s 2000-2009? Or is there a more succinct period?
|
|
#
?
Feb 22, 2021 08:41
|
|
|
Motronic posted:That's what happens in markets where the value of the land vs. the structure on it inverts. You aren't buying a house: you are buying land that happens to have something on it. Good example of this in action this past week.  I was reading that the lot the house was on got bought for development into a multi-unit building and that someone paid 2million for the house + another 500K to move it across town to a new lot. The lot it got moved to has a zestimate of $7 million
|
|
#
?
Feb 22, 2021 08:44
|
|
|
PageMaster posted:Understanding most people here are not lawyers and not making any major decisions based only on forum legal advice: what is the general consensus onoffers on multiple houses? Market here is hot and most places review the same day of the week, meaning 10 rejected offers is 10 weeks of househunting so far. I've been told by other people that it's almost a necessity here, but I'm not sure about the risk of potentially getting two 'accepted' offers, even with contingencies on place. Agent is not recommending it but it looks like it isn't necessarily illegal, though unethical. Unfortunately we're working in a market where 899k homes are selling for 1.05M in cash and sellers are asking (and getting) offers with 90 day rent backs to go buy another house first and we're trying to optimize our time, but also not put ourselves in a bad situation or waste seller time. Depends on what your contract looks like, but generally that's the whole point of Earnest money. You put this money in the seller's pocket, and if you walk away without closing then the seller gets to keep that as compensation for having to re-list/etc. Normally in home purchase contracts, the buyer can walk away for any reason, but unless there's fraud on the seller's part then the seller gets to keep the earnest money. If you're willing to lose that money, then put offers on a bunch of houses if you want. Usually the buyer can't be forced to complete a transaction if they don't want to. Yes, you're wasting the seller's time, but they get to keep your earnest money.
|
|
#
?
Feb 22, 2021 14:14
|
|
|
spf3million posted:I've been reading this thread for years in preparation for the day when we finally start seriously shopping. I feel so much more informed than the average first time home buyer, this thread alone was worth the Edit: On second look, that entire concrete pad is floating. That's ambitious. Definitely get it checked out. Dik Hz fucked around with this message at 15:24 on Feb 22, 2021 |
|
#
?
Feb 22, 2021 15:20
|
|
a thousand times over. We talked to a realtor yesterday who was recommended by a respected friend who worked with him to buy and sell two homes. Seemed to vibe well with the Mrs and I. Got a prequalification letter online yesterday with user-entered data, expect to get a verified preapproval next week. Got our down payment ready, although it's in half a dozen different accounts. I should've probably consolidated a while ago but didn't want to move a bunch of money around knowing we'd be house shopping in the near future.
|
ntan1 posted:A long time - decks that were constructed a in the 1980s and 1990s could easily last all the way up to now, assuming some degree of treatment and the redwood quality being very good. Note that Redwood is incredibly water resistant even untreated and repels termites very well. Siding can easily last 30+ years if it is made out of redwood. Basically, the temperate, non-freezing weather with only 2-3 months of rain means that there's a good chance some of the siding there is original to the house. Dik Hz posted:You need a structural and water runoff expert, imo. The way the house is situated, it looks like water from neighboring lots could run against the foundation. I am not an expert, but some of those pilings look a little underwhelming to me. The cracks in the concrete pad indicate a lot of settling. I'm really getting a "barely buildable lot" vibe from that place. I could be way off, though. 
|
|
#
?
Feb 22, 2021 15:39
|
|
|
PageMaster posted:Understanding most people here are not lawyers and not making any major decisions based only on forum legal advice: what is the general consensus onoffers on multiple houses? Market here is hot and most places review the same day of the week, meaning 10 rejected offers is 10 weeks of househunting so far. I've been told by other people that it's almost a necessity here, but I'm not sure about the risk of potentially getting two 'accepted' offers, even with contingencies on place. Agent is not recommending it but it looks like it isn't necessarily illegal, though unethical. Unfortunately we're working in a market where 899k homes are selling for 1.05M in cash and sellers are asking (and getting) offers with 90 day rent backs to go buy another house first and we're trying to optimize our time, but also not put ourselves in a bad situation or waste seller time. You're putting in the further offers in bad faith. This is likely a tort if someone winds up damaged. Technically you would want to have changed your mind on the earlier ones and be trying to get out of them. If the market is as hot as you think it is and you aren't just bidding poorly or having a rash of bad luck (does your realtor suck?) then it's pretty unlikely to matter. In theory the seller has a whole binder full of offers that are identical to yours. If you are simply competing against people who have more money and a higher appetite for risk than you it might be time to step back and save more money. I wouldn't do it. It's a headache if you get it wrong and someone decides to spite sue you.
|
|
#
?
Feb 22, 2021 16:11
|
|
|
PageMaster posted:Understanding most people here are not lawyers and not making any major decisions based only on forum legal advice: what is the general consensus onoffers on multiple houses? Market here is hot and most places review the same day of the week, meaning 10 rejected offers is 10 weeks of househunting so far. I've been told by other people that it's almost a necessity here, but I'm not sure about the risk of potentially getting two 'accepted' offers, even with contingencies on place. Agent is not recommending it but it looks like it isn't necessarily illegal, though unethical. Unfortunately we're working in a market where 899k homes are selling for 1.05M in cash and sellers are asking (and getting) offers with 90 day rent backs to go buy another house first and we're trying to optimize our time, but also not put ourselves in a bad situation or waste seller time. A small scale anecdote: when I was in college, a friend asked me if I wanted to buy a set of refurb JBL speakers. After bidding and losing for weeks on eBay, he jumped on a Buy Now option after placing yet another bid that he figured he’d lose. That was the one bid he won, so he ended up with two sets of speakers. Getting stuck buying extra speakers for $100 is pretty inconsequential compared to loving up on simultaneous multiple house bids. El Mero Mero posted:Good example of this in action this past week. After talking about some of the work we needed to do on our house, my friend asked at what point did we just tear down and start over. I said when the land value exceeds a million dollars because it’ll cost us at least 800k to rebuild our 200k house as nice as it is now. (Comparable lots with no house currently go for five figures.) The house is in good enough condition that it doesn’t even need a full gutting anyway. Around here, you see lots of extremely far gone buildings get rehabbed instead of replaced. Like a commercial building across from my old work - it had been a windowless shell for ages, and someone bought it, framed out the interior and popped in new windows and it’s good to go. The rampant teardown poo poo happens a lot in my home area. Not even the house of Theseus gut jobs, just straight up tear-downs. After a point, the houses themselves are inconsequential and the egomaniacal rich fucks who come in and buy want to remake the property in their own image no matter what’s already there.
|
|
#
?
Feb 22, 2021 17:25
|
|
|
AmbientParadox posted:So then, what exactly is the worst period for home construction 1940s - Today? From what it sounds like in this thread, it’s 2000-2009? Or is there a more succinct period? For the last several decades that answer is generally going to be "10-15 years ago". Let me explain: since the 50s we've had a boom in new construction materials and methods. Some of these have been great, some have been total poo poo. You look at a house built in the 50s or 60s and there is an inherent survivorship bias by the simple fact that this house still exists. Houses that aren't even a couple decades old (which should be considered to be very, very early in its lifespan) haven't necessarily had a chance to develop enough issues to be a tear down - or like in the EFIS discussion those issues weren't fond yet because they are still hidden but are already at "this is $275,000 worth of work and it still wont' be right so just tear the house down." And with that line of reasoning, the second worse period for home building is today. That is if you're buying a development house or spec house that you've not controlled the building method and inputs. It's always been possible to build a quality home but most people don't want to pay for that. They don't want to spend the money on a 1,400 sq foot quality built home when there are 4,000 sq ft McMansions on offer for the same cost. The reason you are seeing a lots of complaints about 2000-2009 is exacerbated by their age right now as well as even less care being taken throwing them up because it was the tail end of a housing bubble.
|
|
#
?
Feb 22, 2021 17:31
|
|
|
AmbientParadox posted:So then, what exactly is the worst period for home construction 1940s - Today? From what it sounds like in this thread, it’s 2000-2009? Or is there a more succinct period? Generally, if a house makes it 20 years without major issues, it's going to make it 100.
|
|
#
?
Feb 22, 2021 17:44
|
|
|
Motronic posted:For the last several decades that answer is generally going to be "10-15 years ago". This whole discussion is a giant flame war waiting to happen, buy I largely agree with you There's a bunch of 1950s baby boomer housing that's coming on the market now, a lot of it was built with very little building codes and it's falling down as we're 20+ years beyond the design life of the house at this point, plus a bunch of deferred maintenance by the owner as they get into advanced age, it might have been built with great materials, but 30 years with no maintenance will destroy even the best homes, especially if there's unresolved roofing issues and water ingress
|
|
#
?
Feb 22, 2021 17:55
|
|
|
Hadlock posted:This whole discussion is a giant flame war waiting to happen, buy I largely agree with you Agreed on both points. Do never buy.
|
|
#
?
Feb 22, 2021 17:59
|
|
|
Where is the cash to close refund supposed to come from when you refinance? I closed a refinance on 1/29 and I'm due about $2k in the difference between the new loan amount and the total payoff / fees. I called the refinance company a couple of weeks ago and they told me that it should come from my old mortgage holder, but based on the loan activity on the website that doesn't appear to be correct. Who should I sit on hold with next?
|
|
#
?
Feb 22, 2021 19:37
|
|
|
BlackMK4 posted:Where is the cash to close refund supposed to come from when you refinance? There should be a clear statement which shows that difference and where it was paid. If your payoff amount was $300,000 (on say, a $299,500 balance) and they paid out $302,000 to that company, then that company owes you $2000. If they paid $300,000 then your refi company has the money. It should be clear if you're patient. Have you gotten all of your documents in the mail? I seem to recall a paper check wound up getting mailed to me months later.
|
|
#
?
Feb 22, 2021 19:53
|
|
|
I got ahold of my previous mortgage holder (PennyMac) and they said that the amount paid to them ended up in a $114 refund to me and that I need to speak to the title company about the remaining $1.6k difference. That should be fun. The money doesn't matter but I keep a running checklist and I hate when things don't come off of it or have updates in a timely manner.
|
|
#
?
Feb 22, 2021 20:02
|
|
|
Good news! Our realtor says that the market where we're looking to sell is white hot and that we should be "very happy" with where we end up after only owning our home for 2 years. Apparently homes are closing within 45-60 days of going on the market here, which seems crazy. Bad news: apparently the Denver market is also white hot, and while I have some cash stock-piled, the other two sources of money for a down-payment/closing are: 1) our brokerage account (which I don't want to touch) and 2) the home equity from the house we'll be selling. I've never sold/bought a home, so this is new to me. I think what I'm looking to do is a contingent sale, which presumably is going to be somewhat harder to do in a hot market. Does anyone here have tips on doing something like this?
|
|
#
?
Feb 22, 2021 20:10
|
|
|
BlackMK4 posted:I got ahold of my previous mortgage holder (PennyMac) and they said that the amount paid to them ended up in a $114 refund to me and that I need to speak to the title company about the remaining $1.6k difference. Our title co, after asking where the refund at "its the weirdest thing, the accounting office just didn’t cut the check" Yes so weird
|
|
#
?
Feb 22, 2021 20:13
|
|
|
Residency Evil posted:Does anyone here have tips on doing something like this? Yes. Don't immediately buy in Denver and rent for a year like you've been told multiple times.
|
|
#
?
Feb 22, 2021 20:16
|
|
|
Epitope posted:Our title co, after asking where the refund at Isn't it great when you have to manage things that you spend money to have done for you? Looks like my title company is Title365 and their phone service seems designed to not let you talk to anyone.
|
|
#
?
Feb 22, 2021 20:17
|
|
|
Residency Evil posted:Bad news: apparently the Denver market is also white hot, and while I have some cash stock-piled, the other two sources of money for a down-payment/closing are: 1) our brokerage account (which I don't want to touch) and 2) the home equity from the house we'll be selling. So sell some LTCG brokerage funds, replenish them when you get the proceeds from your sale. This seems like such a non-issue.
|
|
#
?
Feb 22, 2021 20:18
|
|
|
Dik Hz posted:Worst - 2006-2008. The crappy homes built with inferior raw materials made expensive by the housing boom haven't had the chance to fall down yet. Plenty of good homes were built during this time period too, though. It's pretty easy for a contractor to tell you the difference if you're questioning a particular house built in this era. Thanks for this. I wasn't sure just how deep in the 00s the dark times are. Hadlock posted:This whole discussion is a giant flame war waiting to happen, buy I largely agree with you Yeah... I can see how my 1am post could be like throwing a grenade into a room. I was more wondering about the comments that pop up here every so often about the housing boom and how cheaper and cheaper materials were using in the construction. I was wondering if there was a specific window where things became really bad. I understand how each era has had its goods and bad points. In my town, San Diego, huge portions of the SFH's were built immediately following WW2, and the majority of them haven't been updated or repaired in at least 30 years. I have seen multiple homes with carpeted bathrooms, weird wood paneling, poor insulation, and decaying wallpaper while going on estate sales. The homes also are 50/50 for having AC, and almost always have single paned windows.
|
|
#
?
Feb 22, 2021 20:19
|
|
|
AmbientParadox posted:Yeah... I can see how my 1am post could be like throwing a grenade into a room. I was more wondering about the comments that pop up here every so often about the housing boom and how cheaper and cheaper materials were using in the construction. I was wondering if there was a specific window where things became really bad. It really depends on the market, like everything else regarding housing. But in some states major builders and their lobbies were getting code amendments passed for some really.....interesting cost and labor cutting techniques up to and including stud spacing in excess of 24" during this time.
|
|
#
?
Feb 22, 2021 20:26
|
|
|
Motronic posted:Yes. Don't immediately buy in Denver and rent for a year like you've been told multiple times. I agree. Go rent a luxury apartment/condo or even a house for 6-12 months in Denver and don't worry about the contingent sale. Figure out where you want to live while you rent before you commit to buying a house. I can't imaging just buying a house in a city I've never lived in. Residency Evil posted:Good news! Our realtor says that the market where we're looking to sell is white hot and that we should be "very happy" with where we end up after only owning our home for 2 years. Apparently homes are closing within 45-60 days of going on the market here, which seems crazy. I want to see the net numbers when you sell your house on how you end up after all the transaction costs. Buying/selling/multiple refi costs... It'll be interesting how much all that costs, not to mention everything else you sunk into that place only to move 2 years later. skipdogg fucked around with this message at 20:31 on Feb 22, 2021 |
|
#
?
Feb 22, 2021 20:27
|
|
|
skipdogg posted:I agree. Motronic posted:Yes. Don't immediately buy in Denver and rent for a year like you've been told multiple times. This is potentially an option, and we have the option of renting from a friend in the event that we don't find anything we like. FWIW, my wife has lived in Denver and we have a very good idea of where we want to live. We're not set on buying, but I want to know what that might look like in the event that we do. H110Hawk posted:So sell some LTCG brokerage funds, replenish them when you get the proceeds from your sale. This seems like such a non-issue. Why pay taxes now if you have the option of deferring them? 
|
|
#
?
Feb 22, 2021 20:32
|
|
|
Fair enough, but I'd still dismiss the idea of moving from one house in PA straight into a new house in Denver without some sort of temporary layover. I rented an apartment for 3 months and kept like 70% of our belongings in storage when I sold my last house/built my current house. It wasn't ideal from a financial standpoint, (paying movers twice, storage costs, exorbitant short term rental costs) but the money was totally worth not having the stress of trying to orchestrate everything happening at just the right time and I don't regret spending a dime of it.
|
|
#
?
Feb 22, 2021 20:43
|
|
|
Residency Evil posted:Why pay taxes now if you have the option of deferring them? To uncomplicate your life. Or: Motronic posted:rent
|
|
#
?
Feb 22, 2021 20:44
|
|
|
skipdogg posted:Fair enough, but I'd still dismiss the idea of moving from one house in PA straight into a new house in Denver without some sort of temporary layover. I rented an apartment for 3 months and kept like 70% of our belongings in storage when I sold my last house/built my current house. It wasn't ideal from a financial standpoint, (paying movers twice, storage costs, exorbitant short term rental costs) but the money was totally worth not having the stress of trying to orchestrate everything happening at just the right time and I don't regret spending a dime of it. But it wife used to live there I tell you!
|
|
#
?
Feb 22, 2021 20:46
|
|
|
Residency Evil posted:This is potentially an option, and we have the option of renting from a friend in the event that we don't find anything we like. FWIW, my wife has lived in Denver and we have a very good idea of where we want to live. We're not set on buying, but I want to know what that might look like in the event that we do. skipdogg posted:Fair enough, but I'd still dismiss the idea of moving from one house in PA straight into a new house in Denver without some sort of temporary layover. I rented an apartment for 3 months and kept like 70% of our belongings in storage when I sold my last house/built my current house. It wasn't ideal from a financial standpoint, (paying movers twice, storage costs, exorbitant short term rental costs) but the money was totally worth not having the stress of trying to orchestrate everything happening at just the right time and I don't regret spending a dime of it. Can you elaborate on this? Presumably this means that the house I'm selling has to close (the day?) before the closing of a new house, right? Is a contingent sale like this a deal that you make with the mortgage company, seller, or both? Residency Evil fucked around with this message at 20:55 on Feb 22, 2021 |
|
#
?
Feb 22, 2021 20:53
|
|
|
What about moving an hour away to a city you used to live in? Is the line drawn on this being a cross country move, a move to a city you've never resided in, or both?
|
|
#
?
Feb 22, 2021 20:56
|
|
|
Residency Evil posted:This is potentially an option, and we have the option of renting from a friend in the event that we don't find anything we like. FWIW, my wife has lived in Denver and we have a very good idea of where we want to live. We're not set on buying, but I want to know what that might look like in the event that we do. You may have a harder time getting an offer accepted if you need a contingency. In a hot market, many (all?) of the homes where you might want to live are going to be receiving multiple offers, as is well-documented in this thread. Many of those offers may waive contingencies, and some may be made entirely in cash. An offer with a contingency is likely going to move to the back of the line unless you are offering way more than everyone else, which may endanger your loan anyway if you hit appraisal problems. I know when we sold our house a few years ago we selected a slightly lower offer since that offer didn't need a sale contingency for their current home, and we didn't want to deal with the risk that the slightly higher offer wouldn't be able to sell in a timely manner. Similarly, when we bought our house a year later our offer was also not quite the highest but we were selected since we didn't need a sale contingency (since we rented for a year while selling our old home after we relocated).
|
|
#
?
Feb 22, 2021 21:04
|
|
|
Residency Evil posted:
The way it feels to me, it's important not to overestimate how liquid or fungible the market for houses is. Buying the right house requires both that you be in a position to buy and that the right house coming on the market. While it's true that there are lots of houses out there, in any given marked only a very small portion of the houses that might change hands in a year are on the market at any one time. Everything that I was looking at a month ago when I started looking has sold, and the market now is a completely different set of houses for sale, and three weeks from now, it will be another completely different set of houses. Simply allowing yourself a month or two to observe opens you up to a far larger set of potential sellers. Whether you've lived in Denver or know it particularly well actually isn't that important in this respect.
|
|
#
?
Feb 22, 2021 21:09
|
|
|
NJ Deac posted:You may have a harder time getting an offer accepted if you need a contingency. In a hot market, many (all?) of the homes where you might want to live are going to be receiving multiple offers, as is well-documented in this thread. Many of those offers may waive contingencies, and some may be made entirely in cash. An offer with a contingency is likely going to move to the back of the line unless you are offering way more than everyone else, which may endanger your loan anyway if you hit appraisal problems. This is super helpful, thank you.
|
|
#
?
Feb 22, 2021 21:09
|
|
|
It will be very easy to sell the house with a contingency and very hard to buy one with it for the same reason. If Denver is like Austin A/B/C houses right now are getting 20+ offers, some of them cash, most of them waiving or reducing typical buyers' rights and contingencies. No seller is going to want to wait for your sale unless you put up a ridiculous offer would be my guess.
|
|
#
?
Feb 22, 2021 21:16
|
|
|
Well, I made the mistake of looking at what I could afford back home in Little Rock where family lives and now I'm loath to buy in Nashville where job is.
|
|
#
?
Feb 23, 2021 02:40
|
|
|
 Not liking this gas range/oven pushed up against a wall. Not sure if I'm being too picky for my first condo? The countertops are also not my fav, but I think I could live with that.
|
|
#
?
Feb 23, 2021 02:47
|
|
|
Inner Light posted:
That isn't a kitchen you cook in. The microwave will bash a hole in the wall while anything boiling will then melt/steam the paint off.
|
|
#
?
Feb 23, 2021 02:51
|
|
|
|
| # ? May 15, 2024 08:44 |
|
|
Got a counter on my FSBO. Still higher than my agent thinks it’ll appraise for. We’ll counter back cause she thinks they’re desperate to sell and they already came down a bunch. The owner sent my agent comps (cause she asked him to prove his price) and one of the comps he sent was nicer, bigger looking, more renovated, and had central air AND sold for 20k under his counter (Like 40k under his list). I dunno what planet this dude is on.
|
|
#
?
Feb 23, 2021 02:53
|
|
