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First moving quote is in! Only 14k!
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May 7, 2021 00:18
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Tyro posted:What are people's thoughts on skylights? In some of the neighborhoods I am looking at, it's common for the houses built in the 80s or 90s to have skylights. The big difference is curb mounted (a little raised frame is added to the roof and a skylight is mounted on that) vs. surface mounted (the skylight is mounted on the roof decking and usually shingled over). Both have areas that are prone to leak, but curb mounting is slightly more reliable. Flashing and sealing around them is super important and should be checked often, perhaps annually. Usually they start leaking in the first 20 years if the flashing/sealing isn't maintained, and it's possible for new roofs to fail to seal around them correctly so be wary if the roof is very new. They're great at adding a ton of natural light to interior spaces without giving up privacy (unless you're not in the top floor condo). They're difficult to shade without involving motors or electricity, so they can cause problems with glare in TV rooms or excess light in bedrooms if those are things that get to you. They're not inherently deal-breakers or deal-makers but they do add complexity to the roof and to your life. Like anything else if there's visible water damage be super cautious.
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May 7, 2021 00:29
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Tyro posted:What are people's thoughts on skylights? In some of the neighborhoods I am looking at, it's common for the houses built in the 80s or 90s to have skylights. The poo poo-hole I'm currently renting has a skylight in the bathroom. It leaked before I moved I moved in, and it took me a while to notice because it only leaked somewhere other than the tub when rain came in at the right angle. Then a hurricane took off the outer dome and just left a piece of plexiglass flexing in the wind, and a shitload of water came in. I managed to stave off the worst of the water intrusion damage by putting plastic sheeting on a spare shower curtain rod and redirecting water into the tub. The owner didn't want to fix it, because the cost of fixing it was less than the insurance deductible, and the company that's managing the property saw nothing wrong with this. Then another hurricane ripped the plexiglass off while I was asleep. Thankfully, I woke up immediately, I still had the Macgyvered plastic sheeting/shower curtain rod combo, the wind came before heavy rain did, and the property management agency actually found a contractor to tarp the roof within an hour. The guys who tarped the roof were so impressed with my solution that they shared photos with their coworkers (or at least all of the ones who came in to run an industrial dehumidifier and generate repair estimates). You might think, "Surely, they fixed the skylight," but nope. Several months later, I've still got a tarp over an 8 square foot hole, because repairing the roof was estimated to be a dollar amount that is both less than the deductible and less than I pay in monthly rent. That tarp has never let a single drop of water in and has performed better than the skylight ever did by every metric other than reducing wind noise and allowing light in. I'm house hunting and will absolutely never consider a house with a skylight because gently caress that.
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May 7, 2021 00:47
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My understanding is there's no such thing as a skylight that won't eventually leak, and after three straight apartments that had leaks in the bathroom roof I am never going anywhere near them.
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May 7, 2021 00:52
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Its like moon/sun roofs in a car. They all eventually leak and they're not cheap to fix when they do.
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May 7, 2021 01:23
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Man I am so over my house but everything for sale is somehow even worse than my place. This sucks! I don't want to live anywhere!!
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May 7, 2021 01:37
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GoGoGadgetChris posted:House-buying thread - This sucks! I don't want to live anywhere!!
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May 7, 2021 01:43
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GoGoGadgetChris posted:Man I am so over my house but everything for sale is somehow even worse than my place. This sucks! I don't want to live anywhere!! Have you tried looking a few towns over? It's my one weird trick.
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May 7, 2021 01:47
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GEMorris posted:Have you tried looking a few towns over? It's my one weird trick. As soon as I'm done with my bay area nightmare, I think I'm going back to the PNW. This house was just listed a couple hours ago and it's in my old neighborhood, which I loved. I remember the owners of this house were an old Russian couple who looked and talked just like Boris & Natasha, and boy does the house look like it was owned by an older couple... https://www.zillow.com/homedetails/295-SW-Santana-Pl-Portland-OR-97225/48533158_zpid/ Still, I love that little loop, so hopefully something else pops up in about ~6 months when I'm looking more seriously.
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May 7, 2021 01:53
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There are six ducks out there and they all want Sunchips! Err.. There are three skylights in our new place and I am deathly worried about them leaking but so far everything seems ok for however long they've been there. I checked as thoroughly as I could before we closed, including asking the inspector to look closely at them specifically. But I'm still going to have them all replaced when the roof needs to be done sometime in the next decade.
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May 7, 2021 02:59
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Can I get help with some napkin math? We’re buying a house for $500k. I have $50k in cash, and plenty in a long term taxable brokerage account. We’re expecting to net $250k tax-free from the sale of our current house, but we won’t close until after we have to close on the new house. My tax preparer is encouraging me to only put down 5% on the new loan and take a rate that’s .2% worse than it would be with 20% in order to avoid paying ~$4k in long term capital gains from selling brokerage funds. He says after our current house is sold, I can just pay the remainder of the 20% downpayment to kill PMI and have the amortization recast, but I’ll still be stuck with the slightly worse mortgage rate forever. Am I getting bad advice?
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May 7, 2021 14:01
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What is the different in interest over the life of the loan minus the cost saving from killing the PMI early? If that number is less that $4k then it make sense, if it is more than $4k then I would say the advise is bad.
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May 7, 2021 14:06
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Why isn't a bridge loan an option?
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May 7, 2021 14:07
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I think the difference over 30 years would be about $16,000, but that’s compared to $4000 I’d have to cough up next tax day.
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May 7, 2021 14:10
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eddiewalker posted:Can I get help with some napkin math? edit: nm, misread Dik Hz fucked around with this message at 14:23 on May 7, 2021 |
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May 7, 2021 14:16
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I dont know anything about a bridge loan. Is that something I can talk to my regular bank about, or do I need to talk to the loan officer?
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May 7, 2021 14:18
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I'd probably start with whomever you're asking to underwrite the mortgage on your new house, if that isn't the bank you already do most of your business with. You aren't exactly in an unfamiliar situation. There are also other more exotic products like repo agreements against the equity in your brokerage account, but that's probably not available to people outside of IPO millionaires. But you never know!
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May 7, 2021 14:34
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Yeah for example we decided to get a HELOC on our current home so we could have the 20% down on our new house, it is a fairly common practice.
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May 7, 2021 14:50
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I contacted my bank and they waived appraisal on the condo  I don't know why. Is it because the loan amount is low enough (under 200k) with enough of a down payment (30%)? Is it because it's a condo and not a house? Is it because the market is weird? Beats me, but that's one less thing to worry about. The sellers are moving out. I asked their agent to forward a two-line note that basically said "thanks for doing business with us, hope you are well, we're going to live here for a long time and probably start a family here so thanks, we wish you well in all future endeavors!" I know it's unorthodox to send a sweetheart letter after we've come to an agreement, I just felt sentimental and "saying nice things" is how I live  As for me... we're 20 days out and it feels like we're 10 days out. Closing day feels closer than it is! I scheduled moving the internet and mail forwarding for the day we hired movers to transport our furniture/boxes. Now it's just time to pack, then we'll be living out of bags/boxes more and more until the big day. 
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May 7, 2021 17:58
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be good and try hard! 
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Hug in a Can posted:I contacted my bank and they waived appraisal on the condo It’s because your down payment is large enough that you will not have negative equity after closing above appraisal.
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May 7, 2021 17:59
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One week to close. Guy at the mortgage company thanked me and said I've done a great job with all of the paperwork. Now I only panic every hour or so about something.
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May 7, 2021 18:20
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12 days for us. All the big stuff is done and there's not much else if anything needed on our end. Honestly I think the last 5 months of looking and submitting offers was the most stressful part.
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May 7, 2021 18:36
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Closed on my old place 30 minutes ago now to wait for them to wire the money to the wrong place or something.  my internet banking right now.
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May 7, 2021 18:49
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BigPaddy posted:Closed on my old place 30 minutes ago now to wait for them to wire the money to the wrong place or something. I had this experience last year when we sold our house; took about four hours for everything to process so keep mashing, buddy.
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May 7, 2021 19:16
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We had our offer accepted on a house for roughly 80% of its original list price and the appraisal just came back for 80% of our offer 
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May 7, 2021 21:51
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Anyone looking for a lakefront home in WI? 11 acres, affordable, what a view: https://www.zillow.com/homedetails/7009-Novak-Rd-Racine-WI-53402/52255569_zpid/
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May 7, 2021 22:00
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dalstrs posted:Anyone looking for a lakefront home in WI? quote:Unique offering! 3 bedroom/ 3 bath ranch home with walkout lower level. Sweeping Lake Michigan frontage!
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May 7, 2021 22:03
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Cockblocktopus posted:We had our offer accepted on a house for roughly 80% of its original list price and the appraisal just came back for 80% of our offer So if my math is right, the appraisal came back at 64% of original list price? What are you going to do? dalstrs posted:Anyone looking for a lakefront home in WI? quote:This home has a pending offer.
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May 7, 2021 22:07
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Cockblocktopus posted:We had our offer accepted on a house for roughly 80% of its original list price and the appraisal just came back for 80% of our offer Where is this completely batshit screwed up market?
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May 7, 2021 22:08
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I'm right in thinking this house is "about" (years time?) to be eroded down that steep hill right?
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May 7, 2021 22:09
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dalstrs posted:Anyone looking for a lakefront home in WI? That looks like a double wide on a foundation. A foundation that will end up in the lake soon.
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May 7, 2021 22:13
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What's with the huge lines on the downspouts going down the cliff? Surely they were once underground, but the ground around them has found a different home. Or is it normal to just hang those off the side of a cliff into a lake? Either way it looks terrible but is definitely not the worst part of that house
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May 7, 2021 22:22
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dalstrs posted:Anyone looking for a lakefront home in WI? I'm actually impressed at how upfront the listing is about the shoreline situation. Then again the property type is listed as vacant land. I'm guessing that the house is already condemned or condemnation is imminent. Reminds of the case of that fancy lakefront house that had the shoreline cliff it was on erode so extensively and so quickly that a third of its foundation had nothing under it and the only safe way to demolish it was to burn it down.
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May 7, 2021 22:27
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gwrtheyrn posted:What's with the huge lines on the downspouts going down the cliff? Surely they were once underground, but the ground around them has found a different home. Or is it normal to just hang those off the side of a cliff into a lake? There's been a ton of erosion on Lake Michigan, where this house is located. I almost feel bad for the seller. The sales price is for like 11 acres across 5 lots of shoreline land. I bet those lots were his retirement and probably worth a bunch of money at one point in time. The future buyer is probably banking on the government stepping in to help with the erosion issue. The house is not what's being sold, it's 100% land value. I see it as a gamble to be honest. https://journaltimes.com/news/local/in-photos-lake-michigan-erosion/collection_be632892-2aeb-539a-9a73-220e107b9c9c.html#11 https://journaltimes.com/news/local...a15a887874.html https://www.tmj4.com/news/local-news/20-foot-waves-cause-millions-in-damage-to-racines-lake-michigan-shoreline?_amp=true
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May 7, 2021 22:29
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 Demo photos are always pretty interesting. Some nice paint jobs, and you can make out the HVAC vent and a light switch. Probably some good times were had there!
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May 7, 2021 22:34
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I found the one I was thinking about : It was on Lake Whitney in Texas. Built in an unincorporated area where a building permit was not required.
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May 7, 2021 22:41
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Queen Victorian posted:I found the one I was thinking about : 
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May 7, 2021 23:05
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Looking along the shoreline of Lake Michigan brings up some interesting stuff, to be sure. https://www.zillow.com/homedetails/LOT-8-Lakeshore-Dr-Pleasant-Prairie-WI-53158/2078309765_zpid/ At least they're honest that you probably can't build on it so you're literally getting nothing except the ability to go 'I own this specific patch of beach'.
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May 7, 2021 23:12
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I live in a town where the priciest homes are falling into the oceans and when people ask if I have an ocean view I just smirk proudly and say no. I'm at sea level but at least a mile from the water, so my house probably won't slide into the ocean for another 40-50 years.
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May 8, 2021 01:37
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| # ? Jun 5, 2024 06:14 |
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gwrtheyrn posted:What's with the huge lines on the downspouts going down the cliff? They need to divert as much rainwater as possible away from sliding down the cliff and eroding it
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May 8, 2021 03:28
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