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WHOOP WHOOP PULL UP WHOOP WHOOP PULL UP
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Nov 8, 2021 01:43
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SlapActionJackson posted:WHOOP WHOOP PULL UP Yes, let's talk about buying houses to live in please. This line of conversation goes nowhere good. (I own a house I don't live in so come at me thread!!!!! (my mom lives there))
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Nov 8, 2021 01:54
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I make my dog pay rent but he is super delinquent and I can't find a judge willing to initiate eviction proceedings, the whole legal system is corrupt and clearly in the pocket of Big Dog My parents are talking about selling their house and renting an apartment for awhile, maybe buying a smaller house somewhere else later. Any thoughts on the best months to sell a house, and likewise best months to buy? Sell while the market is super hot in early summer, buy in the winter?
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Nov 8, 2021 03:23
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So are you asking about timing the market? Because I have some opinions about timing the market.
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Nov 8, 2021 03:29
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QuarkJets posted:
It's going to be region specific, e.g. do you get a snowy Winter, but that's the general gist. Mid Spring to early Summer is preferred for buyers with kids so they can move between school years. Buying is tricky, because you'll have less competition in the Winter, but sellers know this so there will be less inventory as people that aren't desperate pull their unsold properties or wait to list until it warms up. FWIW, I bought and got a good deal by going under contract in Feb. If I had waited another month, my competition would have been stronger.
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Nov 8, 2021 03:33
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Motronic posted:So are you asking about timing the market? Because I have some opinions about timing the market. "timing the market" implies to me that you're trying to catch a falling knife, e.g. "I need to sell my house in September 2022 because I'm predicting that the RE market will crash the month after that" I'm more asking about which times of year are better for buying vs selling, like on average
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Nov 8, 2021 04:54
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Generally the very end of the school year / summer break time is the ideal time to sell. Buying is a waiting game.
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Nov 8, 2021 05:02
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H110Hawk posted:Generally the very end of the school year / summer break time is the ideal time to sell. Buying is a waiting game. Why is it so that this would be a good time to sell? People have more time to move over summer? Unrelated, but I spent last two months trying to find a house somewhere in East Bay / SF and the market is … uh, let’s just say interesting. There’s houses sold in August for 1mil getting relisted now for 1.2 and getting sold for 1.4 in under a week. I’d consider moving somewhere further but my visa is tied to my employer so I’m just itching to hear if they change remote work policy. The budget which would allow to get way better value almost anywhere in US is basically not workable here, especially if the house would need to be in at least avg school district. My best experience was an open house yesterday. The house was listed for 1m as it was further drive from the usual places. I was expecting competition and maybe the final amount settling around 1.2. When we got in, the agent who was sitting in the corner didn’t even stand up or really acknowledge us, other than just saying that just so we know, he already has an offer for over 1.3. kaaj fucked around with this message at 06:33 on Nov 8, 2021 |
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Nov 8, 2021 06:02
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kaaj posted:Why is it so that this would be a good time to sell? People have more time to move over summer? People have kids, and school is generally out for summer
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Nov 8, 2021 06:21
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kaaj posted:Why is it so that this would be a good time to sell? People have more time to move over summer? There's also the groupthink mentality. Because it's common knowledge that the summer is the best time to buy/sell a house, you have more people buying/selling houses during the summer. More buyers means more competition for desirable properties.
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Nov 8, 2021 12:18
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QuarkJets posted:I'm predicting that the RE market will crash the month after that" Wow rude.  Open house came/went, house is still on the market. Maybe I should text our agent.
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Nov 8, 2021 13:30
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Residency Evil posted:Wow rude. DaveSauce posted:Clearly they're having trouble or else there wouldn't be an open house at a time when properties disappear before they're even listed. Their realtor is probably losing their poo poo trying to get the guy to sell to you. lmao and but also Motronic posted:Just curious RE, what color do you think these are? I now vote $100k under your last offer with all contingencies in place. You're going to need that extra money to unfuck whatever is horribly wrong with the place.
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Nov 8, 2021 14:11
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DaveSauce posted:lmao Oh yeah we’re never waiving contingencies. I think the main issue is that the guy is severely under water on the price/renovations, so getting him to come down is a slow process. But we’ve got all the time in the world. Residency Evil fucked around with this message at 16:22 on Nov 8, 2021 |
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Nov 8, 2021 16:20
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gwrtheyrn posted:People have kids, and school is generally out for summer People who are moving are also trying to buy a house before the school year starts so they can get their kids registered and start school on time.
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Nov 8, 2021 17:05
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I'd also bet that there's more first-time buyers on the market in the summer than other times of the year, assuming that those people would probably have tried to get leases lining up with school years when they were still in college themselves and not being in a position to write off half a year's rent to buy at a time other than when their lease is coming up on expiring.
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Nov 8, 2021 18:01
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Yeah as a first time home buyer, even though I just turned 40 my lease renewal cadence has still been roughly tied to the college school year, even though I graduated undergrad 16 years ago. We went month to month this time because we hoped to find a place soon. Also moving in November in Seattle kinda sucks so far.
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Nov 8, 2021 18:41
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Involuntary Sparkle posted:Yeah as a first time home buyer, even though I just turned 40 my lease renewal cadence has still been roughly tied to the college school year, even though I graduated undergrad 16 years ago. We went month to month this time because we hoped to find a place soon. Welcome to Seattle fellow goon! You picked the worst time of year to move. If it's any consolation, the summer is nice.... If the smoke doesn't gently caress it up.
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Nov 8, 2021 20:42
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MEIN RAVEN posted:Welcome to Seattle fellow goon! You picked the worst time of year to move. If it's any consolation, the summer is nice.... I've been here for 10 years 😉just moving from one part of Ballard to another is all, and this is our first home, been in apartments up until now. And November is actually my favorite time of year here! I love November weather. Just moving in it isn't my favorite.
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Nov 9, 2021 01:38
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The price history on this listing is making me laugh so hard.
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Nov 9, 2021 20:32
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Why? It looks like a developer/flipper bought a run down house and is flipping it while developing the plot next to it. The $1.2M listing is a development of the plot next to the flip. Street view from a few years ago show the house on the verge of being reclaimed by nature.
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Nov 9, 2021 21:31
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https://www.zillow.com/homedetails/510-6th-Ave-S-APT-403-Seattle-WA-98104/58383853_zpid/ What's the deal with the tax assessment for this place? It's obviously overpriced, but why did the tax assessment drop so much last year? I would have expected it to go up.
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Nov 9, 2021 22:03
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Magicaljesus posted:Why? It looks like a developer/flipper bought a run down house and is flipping it while developing the plot next to it. The $1.2M listing is a development of the plot next to the flip. I'm confused by the bolded part. The 1.2M isn't indicated to be a sale, so I thought it looked like they tried to list it at 1.2M after flipping, no one bit, so a couple months later dropped to almost half that. Are you saying they just are representing the data weird or inaccurately, and in reality there was a bigger plot that sold for 1.2M and this is a portion of that plot? If so, I guess this is more boring than I thought so nevermind, haha.
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Nov 9, 2021 22:48
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Thanatosian posted:https://www.zillow.com/homedetails/510-6th-Ave-S-APT-403-Seattle-WA-98104/58383853_zpid/ Who knows, but looking at the rest of the units all of the XX3's don't have parking and are the smallest of the bunch so they're probably getting hit for that.
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Nov 10, 2021 01:14
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tumblr hype man posted:Who knows, but looking at the rest of the units all of the XX3's don't have parking and are the smallest of the bunch so they're probably getting hit for that. I just wonder about the tax assessment drop, you'd think that would already be priced in.
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Nov 10, 2021 02:18
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Thanatosian posted:Small and no parking doesn't bother me: I live several blocks from here, now, and have no car and it isn't a problem; this is probably the single best-connected public transit neighborhood in the entire city. And I'm in a smaller place with a roommate (it's smaller but two-bedroom). I mean it also jumped 40 percent a couple years ago likely directly related to the sale and the drop this year could have been an adjustment or whatever to that.
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Nov 10, 2021 04:23
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Any recommendations on Wilmington, NC realtors? Also I found the NC thread the other day, looking forward to reading through the last 500 pages or so I keep coming back to this one, I dub it grover historical home: https://www.zillow.com/homedetails/19-N-5th-Ave-Wilmington-NC-28401/54301723_zpid/ It has a Seriously Bad case of Ninetys Beige, I think it would need to be repainted a brighter color, like canary yellow or deep blue with white trim, or something. It also doesn't have a kitchen presently because it's currently being used as a law office   Rip out the commercial parking on the left, replace with grass, keep a small section for a driveway; replace most of the paved median with some landscaping, add some landscaping on either side of the front steps, add a nice 20 year old oak on the corner, bingo bango moneypit
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Nov 10, 2021 08:25
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Hadlock posted:Any recommendations on Wilmington, NC realtors? Also I found the NC thread the other day, looking forward to reading through the last 500 pages or so
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Nov 10, 2021 15:16
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Hadlock posted:Any recommendations on Wilmington, NC realtors? Hadlock posted:I keep coming back to this one, I dub it grover historical home: I wouldn't want to live that close to Market Street. Also there are some pockets of high crime areas downtown, I don't think it would be a concern for that house specifically but if you're looking downtown be aware that it can change block to block. The gas station at the corner of Market and 17th is affectionately known as the Stab N Grab.
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Nov 10, 2021 16:30
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Dik Hz posted:How familiar are you with that neighborhood? I once drove my buddy's car from camp lejune back to Dallas, in like 2005 I think we're gonna fly out there later this month to check things out depending on how this phone call my wife is having goes in about two hours
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Nov 10, 2021 16:57
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I am in a HCOL area on the west coast, and am in the middle of closing on my first house and am having second thoughts on the monthly payments, because the taxes come in a lot higher than anticipated. Looking at monthly payments of $4400 after taxes/insurance, etc. House is 900, 30/yr fixed conventional at 3.25% Can probably airbnb/rent out the studio which would reduce it to ~ $3000 monthly payments. When I first started looking, my budget was 750 and I have clearly blown straight past it due to losing out on ~4 offers. If my partner and I clear ~250 - 275 a year, is this too much house?
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Nov 10, 2021 20:14
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250-275 Gross or Net? It doesn't really matter, you bought it, you'll make it work. It should be fine though. You're under the 28% of gross monthly income rule of thumb. Depending on your spending habits and what you were paying before to live somewhere you may notice a drop in disposable income, but welcome to the world of homeownership.
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Nov 10, 2021 20:27
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As the poster above said it passes the rule of thumb. Of course that's just a rule of thumb though and doesn't account for your own circumstances. Another exercise is compare it to your current rent. Say your current rent is 4k - ask yourself if an extra 400 a month would be burdensome to you. If your current rent is above 4400 then congrats/condolences, you'll be fine until the roof breaks
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Nov 10, 2021 20:36
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Gross. We currently pay $850 in rent in a crappy apartment and we've been worried about paying too much. edit: I'm justifying that its ok by assuming its a new build so there should be less issues than buying a 100 year old house, so lower cost of maintenance. But looking at the loan amortization schedule is scary.
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Nov 10, 2021 20:39
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You'll be fine. I felt the same way when I bought my houses, panic at closing is normal. See you in the homeowners thread.
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Nov 10, 2021 20:45
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Saint Celestine posted:I am in a HCOL area on the west coast, and 1) check your local regulations, you may not be grandfathered into any Airbnb stuff 2) if it's anywhere south of 35% income or whatever limit you've set, it's probably just the right amount. Most parents I and my wife talk to wish they'd bought bigger initially rather than upgrading later
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Nov 10, 2021 20:53
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Saint Celestine posted:Gross. From what I know that's pretty cheap rent in a high COL part of California! I wouldn't assume new build = low maintenance... Maybe lower. Famous post from post 2 of this thread: quote:Old construction is better than new construction because older homes were usually overbuilt in structural terms. They'll also usually be in better parts of town, in more established neighborhoods, and closer to city centers and services because they were built before everyone drove everywhere. Old houses were built by tradespeople who treated construction as a career and took pride in their work. They were built to last forever. You'll have a yard and a sidewalk that leads somewhere you want to go. You'll have a cozy fireplace and a formal living room. That doesn't mean I'm saying you're in a bad situation! Just saying you should not be dismissing potential maintenance just because it's new
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Nov 10, 2021 21:02
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alnilam posted:From what I know that's pretty cheap rent in a high COL part of California! Wow ok. I just don't have a reference because my rent has been below market for so long due to living in what is probably a slum. The new construction comes with a warranty and I had a home inspection OK it, so I've done as much due diligence as I can If things go to poo poo, resale value should be good as well since its "modern", no?
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Nov 10, 2021 21:12
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skipdogg posted:You'll be fine. I felt the same way when I bought my houses, panic at closing is normal. And after closing. A long while after...
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Nov 10, 2021 21:13
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Saint Celestine posted:I am in a HCOL area on the west coast, and am in the middle of closing on my first house and am having second thoughts on the monthly payments, because the taxes come in a lot higher than anticipated. The only worrying part of this is the taxes being a surprise. If you're in California then congratulations on starting down your path of "gently caress you got mine" that is Prop 13. Your assessed value for taxes can only creep up at a inflation-flagging 2% per year, special districts aside, and your rate is capped at 1%. You will probably be fine assuming you aren't drowning in other debt. 1 paycheck a month goes to the mortgage, 1 goes to everything else. It's certainly a shock going from $850/month. Be prepared for your utilities to go up as well. Luckily your house will already have all the Low-E double paned glass and insulation to help keep that in check.
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Nov 10, 2021 23:24
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I am going through the pre-approval process at three lenders right now for my first real estate money sink. How do I decide who to go with in terms of submission of house offers?
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Nov 11, 2021 00:02
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