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Pull up, pull up https://youtu.be/Xlr2ZMTc52E e: drat Party you got a crappy attitude. For someone dispensing unsolicited personality advice perhaps learn to let it roll Inner Light fucked around with this message at 01:36 on Oct 31, 2021 |
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Oct 31, 2021 01:33
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Doctor Party posted:
My reply was serious and I think good advice?
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Oct 31, 2021 01:34
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spwrozek posted:I think a lot of this depends on how livable the place is, what you want to do, how long you are willing to wait, and how much you are doing yourself. One house I had was totally fine but kind of dated. I ripped out the entire "master" to the studs and redid it. Took me about 6 months doing it at night and weekends but I wasn't in a rush as I had two more bedrooms and a bath to stay in. I did the whole thing for under $20K (probably $5-10K more these days) since I did everything myself (it is good to grow up working construction). Once that was done I did the other 2 rooms and bathroom. Thanks for a thoughtful reply. I think my question wasn't necessarily meant to be current market specific. More like if you are in a hypothetical situation of choosing between two homes. One is finished but more expensive and maybe in a worse location and the other is cheaper but needs some work done and is in a better location. So as a person without experience with renovation what could help me make the decision about whether its worth going for the cheaper house that needs work but might have other characteristics making it desirable etc. Your reply is very helpful in pointing out that yeah one consideration is definitely while some renovation is being done could we still live there or would it be such an ordeal that we'd need a plan for not living there etc. So my specific question about having someone offer a quote or something along those lines of a very ball park idea of how much it would cost to fix the cheaper house is what I am thinking about. Again maybe that's totally not a thing? Haha I could see that. And again in this market homes are flying off the market. So farting around with some attempt at quantifying cost for reno might not be feasible because the house might be off the market before you could even do that.
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Oct 31, 2021 01:42
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QuarkJets posted:I would welcome you to the forums but your regdate implies that you should already know better than this so idk Yeah I have been around for a long time here. Something awful was founded by a dude who went on to be a pretty lovely guy...you know so like hey maybe there's room for something awful to grow. So yeah I called a dude out for offering nothing helpful and just siezing an opportunity to be a dick. And again his points aren't even helpful. Uh yeah bro I know the market is up. Uh yes I am aware there is a pandemic haha. Uh yes I know that labor and materials are more. I'll take blame in that I should have asked a very simple specific question. Ignoring current market how would you decide as a person not familiar with renovations between a house that might need one and a house that doesn't. And if your answer is well I'd suggest not trying to buy a house you know needs a reno if you're not familiar with it. That's OK cool. Good advice! No need to be a dick  .
Doctor Party fucked around with this message at 01:51 on Oct 31, 2021 |
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Oct 31, 2021 01:48
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Doctor Party posted:So my specific question about having someone offer a quote or something along those lines of a very ball park idea of how much it would cost to fix the cheaper house is what I am thinking about. Again maybe that's totally not a thing? Haha I could see that. And again in this market homes are flying off the market. So farting around with some attempt at quantifying cost for reno might not be feasible because the house might be off the market before you could even do that. It is definitely very smart to get a contractor to come look at a place and price things out if you are going down that road and can't price it out yourself. In the current climate it might be hard to get a contractor to come out and give you pricing. I would not offer on a place unless you understand the costs and timing though. For you that sounds like bringing in someone to help you. Living in a reno is usually very stressful though and can really impact relationships so something to consider before you jump into that. Better to spend more or be in a slightly less great area than having home issues with your SO.
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Oct 31, 2021 01:51
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spwrozek posted:It is definitely very smart to get a contractor to come look at a place and price things out if you are going down that road and can't price it out yourself. In the current climate it might be hard to get a contractor to come out and give you pricing. I would not offer on a place unless you understand the costs and timing though. For you that sounds like bringing in someone to help you. So yeah you basically answered my question. If I am super interested in a home and most things are good but say the kitchen is just super dated then it's worth trying to get some kind of opinion on how much it's gonna cost to update it before going all in. And yes currently that might be a challenge even to get a ball park figure.
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Oct 31, 2021 01:57
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Yeah I would say that there's a spectrum of what "renovation" means, something like "this kitchen sure could use an update" isn't something that I even care about and I would not pass on a house over that whereas "this house is habitable, legally speaking" is a different story
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Oct 31, 2021 02:22
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Hadlock posted:For every 20, maybe 30 jobs there is one home remodeling guy available. So they can all throw out "gently caress you" pricing and whoever is willing to pay it, gets their house fixed that week When do folks think the real estate market along with remodeling and what not will cool down?
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Oct 31, 2021 03:59
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Doctor Party posted:Yeah I have been around for a long time here. Something awful was founded by a dude who went on to be a pretty lovely guy...you know so like hey maybe there's room for something awful to grow. So yeah I called a dude out for offering nothing helpful and just siezing an opportunity to be a dick. Lol. All of these posts. Lol.
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Oct 31, 2021 04:16
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You can't predict the market right now, but if I were a betting man, I'd say the market heats up again next spring (starting the weekend after superbowl sunday), through labor day 2022... the backlog of deferred home maintenance ought to clear up 2023 or 2024 If inflation goes above 6% (currently 5.5%) and stays there through Q2 2022, all bets are off
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Oct 31, 2021 04:37
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My realtor sent out a quarterly news letter about the DC market in September that hinted that things were indeed slowing down, but this is probably just the usual season slow down that we didn’t see last year. I’ve seen some price drops in our area, but they were mostly on pretty poor quality houses that we’re trying to take advantage of the market to offload a lovely property. I think the markets still going to be super competitive come spring for move-in ready homes, as the demand fundamentals are still there. I think people with nice homes just currently aren’t putting their properties on the market to wait for the usual Spring surge. As an example, the reasonably nice move-in ready house that went on the market right behind us a week ago went under contract in under two days.
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Oct 31, 2021 05:46
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spwrozek posted:That is a VERY cheap sliding glass door installed. Like as cheap as you can get for a vinyl slider that will last 5-7 years and then the hot/cold cycle will break the seals and warp it so it doesn't open/close correctly. Uh oh, my house has 7 sliding glass doors. 
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Oct 31, 2021 06:09
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Tremors posted:Uh oh, my house has 7 sliding glass doors. I shouldn't make it sound so bad. Vinyl can last a lot longer. They just generally have issues since they do not deal with temperature fluctuations very well. A new vinyl slider is $1500-2000 plus install.
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Oct 31, 2021 06:34
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If you are first-time home buyer, with no renovation experience, no DIY experience beyond tiny things, and a growing family, then I would NEVER buy a home that required renovation to be livable. A place with dated trappings that you might one day want to fix, that's fine. A place where parts of the home are not fully functional without work, absolutely no. If you ever feel the urge not to heed this advice, I'm sure we can dig up some article written by a dumb rear end in a top hat about how trying to renovate his former 3-story Victorian meth house into a home for his family, while his family and pregnant wife lived in it turned out to be way harder than they expected. EDIT: Haha, I actually still had a link to the article that was bouncing around in the back of my head when I made this post. https://torontolife.com/real-estate/parkdale-reno-hell/ Anonymous Zebra fucked around with this message at 10:49 on Oct 31, 2021 |
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Oct 31, 2021 10:47
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Anonymous Zebra posted:If you are first-time home buyer, with no renovation experience, no DIY experience beyond tiny things, and a growing family, then I would NEVER buy a home that required renovation to be livable. A place with dated trappings that you might one day want to fix, that's fine. A place where parts of the home are not fully functional without work, absolutely no. But what if hypothetically we say it wasn't a crack den and their "contractor" didn't destroy a porch and part of their foundation and good contractors were half the price, immediately available and materials were free? In that situation, can you talk to me about being a first time buyer and renovating a meth house? Oh wait, this thread is about buying houses. Like, actually but them, now, in reality.
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Oct 31, 2021 13:55
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Motronic posted:Oh wait, this thread is about buying houses. Like, actually but them, now, in reality. The housing market varies a bunch by location and some of us may not live in this "reality" place.
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Oct 31, 2021 14:17
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MrLogan posted:The housing market varies a bunch by location and some of us may not live in this "reality" place. I'm all ears. Where during a global pandemic and supply chain crisis is immune to such pressures that the rest of us are seeing?
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Oct 31, 2021 14:49
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Holy poo poo that article.
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Oct 31, 2021 15:14
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I don’t know how Toronto’s housing market is so bad. Everything I’ve read and heard from Canadian friends makes San Francisco seem reasonable.
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Oct 31, 2021 16:42
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Motronic posted:I'm all ears. Where during a global pandemic and supply chain crisis is immune to such pressures that the rest of us are seeing? Whoosh
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Oct 31, 2021 17:11
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Nybble posted:I don’t know how Toronto’s housing market is so bad. Everything I’ve read and heard from Canadian friends makes San Francisco seem reasonable. Well, one piece of the puzzle is that a couple who between them have one part time job can buy a $560,000 home.
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Oct 31, 2021 17:52
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Upgrade posted:Well, one piece of the puzzle is that a couple who between them have one part time job can buy a $560,000 home. So uh is it: 1. Extremely lax underwriting or 2. Everyone in Canada has family money
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Oct 31, 2021 18:22
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Haha, I'm happy I got to introduce that article to more people. It shares brain space in me with the article written by the guy who watched YouTube chef videos and decided to start a restaurant with no experience, and so thoroughly bankrupted his family that in a decade he still won't be able to send his kids to college; and the article written by the dude who reacted to his wife's "infertility" by serially cheating at Burning Man, trying to save his marriage by opening it up, and ended up alone when his wife dumped him for her friend with whom she now has 3 kids. The secret to how the crack house family somehow ended up on top is because they were rich. They are absolutely terrible with money, but when you're rich people just give you money anyway.
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Oct 31, 2021 19:53
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Also that house price always go up, if it didn't they would have sunk $1.1mil into a house that if you tried to sell would have sold for a more modest 600-700k based on the location.
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Oct 31, 2021 21:06
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Residency Evil posted:So uh is it: The other piece is that they still owned a condo they rented out (?), sold their second condo and bought this house. And also agreed to pay some random toothless man they met on the street tens of thousands of dollars to renovate their home with mediocre recommendations. How in the gently caress did that house pass an appraisal process for underwriting, too. Literal crackden.
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Oct 31, 2021 21:32
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Upgrade posted:The other piece is that they still owned a condo they rented out (?), sold their second condo and bought this house. And also agreed to pay some random toothless man they met on the street tens of thousands of dollars to renovate their home with mediocre recommendations. Could be a case of "we're rich, give us money". It sounds like they had a lot of spare equity in their condo (to the tune of $260k) and money seemed to just keep falling into their lap until they had blown through half a million on renovations alone. This is just how things go for people from rich families (oh my husband's incredibly successful godfather *happened* to be in town the exact day that we needed access to his wealth, what an amazing coincidence, btw we are able to make payments on our $730k in 2010 debt on the combined salary of a website editor and a part-time teacher) QuarkJets fucked around with this message at 23:42 on Oct 31, 2021 |
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Oct 31, 2021 23:39
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QuarkJets posted:Could be a case of "we're rich, give us money". It sounds like they had a lot of spare equity in their condo (to the tune of $260k) and money seemed to just keep falling into their lap until they had blown through half a million on renovations alone. This is just how things go for rich people They had (access to) more than that, because if I recall there was a second article where they drunkenly stumbled into buying a vacation property not long after finishing that house.
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Oct 31, 2021 23:41
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Motronic posted:They had (access to) more than that, because if I recall there was a second article where they drunkenly stumbled into buying a vacation property not long after finishing that house. The more I read this article the more it sounds like the original 900 sqft condo was also basically a gift, one they received while the husband was attending grad school. So yeah, rich people.
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Oct 31, 2021 23:43
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Motronic posted:They had (access to) more than that, because if I recall there was a second article where they drunkenly stumbled into buying a vacation property not long after finishing that house. Yeah, I unfortunately don't have that article saved, but I believe goons did the math when it came out and figured out they bought the rental cabin months after the crackden was done being renovated.
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Oct 31, 2021 23:45
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Residency Evil posted:So uh is it: 2, got it.
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Oct 31, 2021 23:46
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That's a hell of a story. Their current employment situation doesn't really tell the whole story. Sounds like they sold their "two-bedroom rat trap" for $635k and put $200k down on the crack house. Then they refi'd their second condo to cash out another $260k for the crack house reno. What gets me is that they had previously purchased a flip and had a bad experience with it, and so decided they weren't going to make that mistake again. The next logical step being, obviously, buy a giant, run-down rooming house sight-unseen (by the wife, at least) with no contingencies, and no cost estimate to reno. Makes perfect sense. The first walkthrough with their 2 year old is priceless. Magicaljesus fucked around with this message at 00:15 on Nov 1, 2021 |
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Oct 31, 2021 23:49
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New record stupid price in my neighborhood: home was bought new from builder for $367k in December 2020, and they just put it up for $520k.
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Oct 31, 2021 23:55
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I just went under contract after a year of lackluster attempts at buying a house. Can't wait for the soul crushing lifestyle that goes with owning a home, but after reading the Sellers Property Disclosure I am pretty sure the individual was Bob Vila himself..
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Nov 1, 2021 14:15
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Nice and hot piss posted:I just went under contract after a year of lackluster attempts at buying a house. What sort of things were on the disclosure that made you feel that way?
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Nov 1, 2021 16:42
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Nice and hot piss posted:...but after reading the Sellers Property Disclosure I am pretty sure the individual was Bob Vila himself.. This reads more like a red flag than a selling point. I'm also curious what was included in the disclosure.
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Nov 1, 2021 16:57
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lol, lmao https://twitter.com/alexonicoll/status/1454107770261811207
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Nov 1, 2021 17:42
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Just lmfao.
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Nov 1, 2021 17:48
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Magicaljesus posted:This reads more like a red flag than a selling point. I'm also curious what was included in the disclosure. He was incredibly detailed in the things that have been upgraded, such as the day/make/model in which he put in/installed whatever fixture along with when the warranty on said items expired (also a phone number of the business i needed to call within 60 days of title transfer to have the warranty under the new owner of the house). The house has a new garage door, new roof and a tankless water heater. The house inside and from all that I did walking around seemed completely immaculate. The carpet was dated to which he wrote down *carpet needs replacing* .I wasn't even sure why he mentioned that. I guess I was just surprised because the other houses I considered making offers had barely no information, or super vague details (new windows installed in past 5 years) or (unsure of year of heater). From everything that was written up, nothing was done by him as he had reports of whoever the contractor/company was that did the work. So maybe my Bob Vila remark was inaccurate. I just assumed this was a guy who tried to do everything he could in regards to keeping the property in good shape, and it showed. Fortunately I still have enough language in the contract that if the inspector finds anything scary I can either back out or re-negotiate Nice and hot piss fucked around with this message at 18:53 on Nov 1, 2021 |
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Nov 1, 2021 18:29
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huh a purchasing algorithm, based on a highly-flawed valuation model that nobody in the world takes seriously except for FSBO, overpaid for a bunch of houses and is bleeding money who could have possibly seen that coming?
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Nov 1, 2021 18:50
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DaveSauce posted:huh What it we framed this as a transfer of wealth from VCs to homeowners in the Phoenix area?
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Nov 1, 2021 18:56
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