|
actionjackson posted:when you say giant houses are loving cheap, cheap where exactly? Hadlock posted:in a lower cost of living area in a rural area for literally half the price Edit: oh God, I dragged this slow motion train wreck to the next page 
|
#
?
Dec 5, 2021 21:23
|
|
|
|
| # ? Jun 4, 2024 21:38 |
|
|
okay sorry, I agree that if you are in a rural area, then yes. but you were comparing it to the bay area? aren't all houses at least 1.5M there? so even half sounds like a lot!Upgrade posted:By "most major cities" you mean, "outside of New York and Boston, most cities have a pre-car urban core, and post-car exburbs" right? yes I suppose. I'm just mad they tore down the streetcar system, it looked pretty awesome. 
actionjackson fucked around with this message at 21:33 on Dec 5, 2021 |
|
#
?
Dec 5, 2021 21:29
|
|
|
The streetcar system was generally a sales tool used by property developers to build out farmland that was too far from the urban core to walk. Property developers got the greenlight from the city to develop the land in trade for developing privately owned public transit to those areas, then handed it over to the city when everything was done (since the streetcar was never meant to be profitable/financially sustainable long term) Then cars got cheap and people abandoned the streetcars. And then when it came time to pay for major capital improvements/repairs 20 years later, the city just shut them down rather than pour more good money after bad Other than that most dense shopping/workplace areas, streetcars aren't coming back. Sometimes it's useful to connect a university with a hospital with downtown but bringing up streetcars in the house buying thread is - are you drunk?
|
|
#
?
Dec 5, 2021 21:42
|
|
|
actionjackson posted:okay sorry, I agree that if you are in a rural area, then yes. but you were comparing it to the bay area? aren't all houses at least 1.5M there? so even half sounds like a lot! If you look outside of the Bay Area, there are "cheap" houses in the suburbs of metropolitan cities like Chicago, Philadelphia, Houston, St Louis, and even places like Boston/NY. Cheap SFHs have been kind of A Thing in American city planning/development.
|
|
#
?
Dec 5, 2021 21:47
|
|
|
actionjackson posted:when you say giant houses are loving cheap, cheap where exactly? The house that was linked to was over two million dollars Here are a few suggestions: https://www.redfin.com/CA/Bakersfield/6212-De-La-Guerra-Ter-93306/home/69886895 https://www.redfin.com/CA/Bakersfield/1009-Halterio-Ct-93309/home/69872256 https://www.redfin.com/CA/Bakersfield/1100-Calle-Extrano-93309/home/60503336 Of course, having grown up in Bakersfield, the most appropriate response to "I grew up in Bakersfield" is "I'm sorry", so... https://www.redfin.com/OH/Dayton/6960-Mad-River-Rd-45459/home/75958035 https://www.redfin.com/GA/Athens/105-Lavista-Pl-30605/home/124457193 https://www.redfin.com/FL/Lakeland/1314-Alameda-Dr-S-33805/home/46100316 https://www.redfin.com/FL/Lakeland/838-Woodward-St-33803/home/46245807
|
|
#
?
Dec 5, 2021 22:03
|
|
|
Hadlock posted:The streetcar system was generally a sales tool used by property developers to build out farmland that was too far from the urban core to walk. Property developers got the greenlight from the city to develop the land in trade for developing privately owned public transit to those areas, then handed it over to the city when everything was done (since the streetcar was never meant to be profitable/financially sustainable long term) I'm sure this had nothing to do with the massive PR campaign the automobile industry waged against public transit. you do know other parts of the world still have these right? like in Lisbon. and of course here SF has had one for a long time. Cassius Belli posted:Here are a few suggestions: the home in the first link is 780 thousand dollars
|
|
#
?
Dec 5, 2021 22:03
|
|
|
actionjackson posted:the home in the first link is 780 thousand dollars It is also $164/sqft, and one of the houses (the one in Dayton) is down at $110, on a 2.7-acre chunk of land. Too expensive? How about 4,902 sqft at $85/sqft and probably some negotiation room from there? Cassius Belli fucked around with this message at 22:11 on Dec 5, 2021 |
|
#
?
Dec 5, 2021 22:06
|
|
|
I wonder if you are just used to living in more expensive areas. 415K to me is still definitely not cheap. I get that the price/SF isn't super high, but the SF itself is so high that the total price really balloons. My place was 170K (it's valued at maybe 260K now, but this is the most expensive the twin cities market has ever been). Where I live, before covid, the median home price was <300K.
|
|
#
?
Dec 5, 2021 22:17
|
|
|
The Eames chair is pretty awesome but unfortunately was designed back when 5'11 was considered "Tall"
|
|
#
?
Dec 5, 2021 22:17
|
|
|
GoGoGadgetChris posted:The Eames chair is pretty awesome but unfortunately was designed back when 5'11 was considered "Tall" if you're talking about the ubiquitous Eames leather recliner and ottoman, it's not really my thing. I like the shell chairs tho
|
|
#
?
Dec 5, 2021 22:20
|
|
|
GoGoGadgetChris posted:The Eames chair is pretty awesome but unfortunately was designed back when 5'11 was considered "Tall" Good news!
|
|
#
?
Dec 5, 2021 22:21
|
|
|
e: nevermind Here, have a derail bird Cassius Belli fucked around with this message at 22:34 on Dec 5, 2021 |
|
#
?
Dec 5, 2021 22:31
|
|
|
yes sorry for the derail. so back to what I originally mentioned, what is happening with these sale prices on expensive properties where they are paying ~50% or less? this one was sold in August of last year, in what is considered to be a super nice location and building. https://www.zillow.com/homedetails/14-Grove-St-14B-Minneapolis-MN-55401/1913648_zpid/ The zestimate would be a pretty reasonable estimate of it's actual value. Also the price history showed it sold for the exact same amount seven years prior, so I assume that's not a coincidence. This is "contract for deed" I think.
|
|
#
?
Dec 5, 2021 23:46
|
|
|
actionjackson posted:The zestimate would be a pretty reasonable estimate of it's actual value. Not really. actionjackson posted:so back to what I originally mentioned, what is happening with these sale prices on expensive properties where they are paying ~50% or less? Condition relative to the rest of the units. Location and demographic changes. Condo association fees and/or lack of proper funding that indicates an upcoming assessment, pending or ongoing litigation against the condo board........
|
|
#
?
Dec 5, 2021 23:52
|
|
|
that's what I thought, but one right next to it that was a bit bigger sold for 600K around the same time https://www.zillow.com/homedetails/16-Grove-St-16A-Minneapolis-MN-55401/1913641_zpid/ (sold for 166K in 1997 lol) I guess there could be a issue with just that specific unit, but why would the sale price seven years ago be EXACTLY the same? the pre-covid assessed value was 465K, which would make sense to me, as that's an incredibly desirable area (basically a very quiet little island, but you can easily walk to downtown)
|
|
#
?
Dec 6, 2021 00:13
|
|
|
actionjackson posted:that's what I thought, but one right next to it that was a bit bigger sold for 600K around the same time It's either condition or that wasn't actually a sale. I have no idea how that state reports transactions that could include things like adding or removing the name from a deed, changing the name on a deed (transfer to, out of or between trusts), estate transfers........... What you're looking at is badly collected public data. If you don't see an actual entry for a listing in whatever the public real estate database is (some kind of MLS) it probably wasn't an actual public sale and the prices don't mean anything.
|
|
#
?
Dec 6, 2021 00:22
|
|
|
Seller asked for proof of funds in my bank. I don't mind, but it makes me wonder if people make offers they can't back.
|
|
#
?
Dec 6, 2021 00:23
|
|
|
Motronic posted:It's either condition or that wasn't actually a sale. I have no idea how that state reports transactions that could include things like adding or removing the name from a deed, changing the name on a deed (transfer to, out of or between trusts), estate transfers........... okay i just realized that the sale on the county site was from 2013, rip me. must have been a zillow error. https://www16.co.hennepin.mn.us/pins/pidresult.jsp?pid=2302924230048
|
|
#
?
Dec 6, 2021 00:31
|
|
|
Over here all sort of inferential transactions involving titles show up on Zillow sales history. Most often it’s name change on a title that’s important so the sale price could be whatever. Think divorce or inheritances.
|
|
#
?
Dec 6, 2021 02:42
|
|
|
Went to a bunch of open houses today either to find it was an associate agent hosting who knew nothing or there was just a lockbox to grab keys for the showing with nobody actually there  I mean it was still useful to go but could have been better.
|
|
#
?
Dec 6, 2021 04:15
|
|
|
pokie posted:Seller asked for proof of funds in my bank. I don't mind, but it makes me wonder if people make offers they can't back. see thread title
|
|
#
?
Dec 6, 2021 04:23
|
|
|
Another 3 family has popped up in the town I like, once more unto the breach.
|
|
#
?
Dec 6, 2021 05:34
|
|
|
pokie posted:It's a rural-ish suburb of Vancouver, WA. The asking price is 700k fwiw. The offer depends on how the asking amount was set and how long it's been on the market. Some homes are priced to sell quickly at or over asking. Some are priced aggressively and will often take longer to sell. How long has it been on the market? If it's been a while and hasn't received offers, an offer at asking should be sufficient. Your agent can get this answer quickly. If it's been on the market for a few days and the agent expects it to go quickly, then yeah, decide how badly you need this home and which child you'll be willing to give up to get it.
|
|
#
?
Dec 6, 2021 18:00
|
|
|
Been trying to buy something in upstate South Carolina for the past month and homes are moving fast enough that anything I'm remotely interested in has multiple offers within 2 days. Getting over this pretty quickly.
|
|
#
?
Dec 6, 2021 18:24
|
|
|
tehDiceman posted:Been trying to buy something in upstate South Carolina for the past month and homes are moving fast enough that anything I'm remotely interested in has multiple offers within 2 days. Getting over this pretty quickly.
|
|
#
?
Dec 6, 2021 18:31
|
|
|
Dik Hz posted:With the way things are right now in most US markets, it's pointless to even look at homes right now if you're not able to put an offer in immediately. Yeah, as mentioned I was treating looking at Zillow / Redfin daily like a part time gig, with a custom search sorted by least time on market first. I would treat anything desirable-looking on the market for over 1 week as very suspicious regarding a serious flaw that other buyers have spotted. In the end I ended up with a home that has flaws and compromises (including being across the street from a major fire station, with multiple ambulance runs per hour), but there were I believe 4 other offers received.
|
|
#
?
Dec 6, 2021 18:41
|
|
|
Inner Light posted:Yeah, as mentioned I was treating looking at Zillow / Redfin daily like a part time gig, with a custom search sorted by least time on market first. I would treat anything desirable-looking on the market for over 1 week as very suspicious regarding a serious flaw that other buyers have spotted. Your REA didn't have a portal that sent you all updates daily? Ours had coming soon houses (not on Redfin/Zillow), sales, price changes, etc. It was really helpful to find stuff and know what prices were doing.
|
|
#
?
Dec 6, 2021 19:02
|
|
|
spwrozek posted:Your REA didn't have a portal that sent you all updates daily? Ours had coming soon houses (not on Redfin/Zillow), sales, price changes, etc. It was really helpful to find stuff and know what prices were doing. I worked with a couple agents before the final agent I actually bought my condo through that had various bad user interface portals like what you're describing. TBH I ended up using Redfin instead since it was much easier and clearer to navigate and the data all came from the MLS anyway. And, the final agent worked for Redfin. I was searching in a big metro so it's not like we get a couple matches a day, it was many many matches per day and the concept of the REA actually helping by sending some my way never actually happened, it was me who did all the searching myself using the filters. The REA did very little actual work 
|
|
#
?
Dec 6, 2021 19:22
|
|
|
Dik Hz posted:With the way things are right now in most US markets, it's pointless to even look at homes right now if you're not able to put an offer in immediately. I agree and I'm putting in offers as well but I want to actually step foot in the house before submitting paperwork. That might be the issue, or that sometimes my realtor isn't responding for 2 hours at a time. I'm just at a loss and am getting quite frustrated.
|
|
#
?
Dec 6, 2021 19:51
|
|
|
I'm currently saving up a down-payment withy partner. We expect to start looking in 1.5 to 2 years. He's currently worried about inflation since our ally hysa account is only getting ~.7%. We're currently putting 20k in ibonds this year and plan to put another 20k next year. Is there anything else we can put the money into to try and not get hit by inflation as much? CD ladders don't give much more than ally at this point. He mentioned 1-2 year bond vehicles, but I've never heard of them.
|
|
#
?
Dec 6, 2021 20:15
|
|
|
Inner Light posted:I worked with a couple agents before the final agent I actually bought my condo through that had various bad user interface portals like what you're describing. TBH I ended up using Redfin instead since it was much easier and clearer to navigate and the data all came from the MLS anyway. And, the final agent worked for Redfin. bummer. Ours did a lot of leg work and their portal was pretty good.
|
|
#
?
Dec 6, 2021 20:42
|
|
|
Magicaljesus posted:The offer depends on how the asking amount was set and how long it's been on the market. Some homes are priced to sell quickly at or over asking. Some are priced aggressively and will often take longer to sell. How long has it been on the market? If it's been a while and hasn't received offers, an offer at asking should be sufficient. Your agent can get this answer quickly. If it's been on the market for a few days and the agent expects it to go quickly, then yeah, decide how badly you need this home and which child you'll be willing to give up to get it. It was fresh on market and got multiple "strong" offers (whatever that means). Either way, we accepted their counter that was equal to our max escalation amount. Yay? Now comes dread and excitement. Clearly we left some money on the table and might fit the thread title. Now we're off to shop for brokers and inspectors.
|
|
#
?
Dec 6, 2021 20:59
|
|
|
My agent was great but their portal sucked and was slower than redfin/Zillow. Most of the houses popped up on redfin first, hours before their email would come through with the same house. I had a filter set to notify me the moment a new house came on. I felt like a junkie checking redfin several times an hour. He was great about looking up homes I sent him and setting up viewings though. It's odd to me, considering the only house I bought was in Seattle during covid, that everybody around the country doesn't buy a house in a week, having seen the house once, often needing to waive inspection to be competitive, and guaranteeing to spend 10-30% over list. The idea of a house sitting on the market for weeks and actually having room to negotiate other than "how much extra money can I pay you?" Is honestly baffling to me. Seattle real estate: Weds-Friday: new houses get posted Fri-sunday: view houses Monday: submit offer Tuesday: find out if you win, or start all over again We did this for 6 months. 100+ houses seen in person. 20 offers.
|
|
#
?
Dec 6, 2021 21:03
|
|
|
Verman posted:Seattle real estate: Don't forget the fun one where you show up to tour on fri-sunday and they've already accepted an offer before their offer review date, only to find out a month later it wasn't even that high of an offer
|
|
#
?
Dec 6, 2021 21:08
|
|
|
gwrtheyrn posted:Don't forget the fun one where you show up to tour on fri-sunday and they've already accepted an offer before their offer review date, only to find out a month later it wasn't even that high of an offer Yeah, that happened to us where the seller accepted an offer 10k under asking, but all cash.
|
|
#
?
Dec 6, 2021 21:13
|
|
|
Spikes32 posted:I'm currently saving up a down-payment withy partner. We expect to start looking in 1.5 to 2 years. He's currently worried about inflation since our ally hysa account is only getting ~.7%. We're currently putting 20k in ibonds this year and plan to put another 20k next year. Is there anything else we can put the money into to try and not get hit by inflation as much? CD ladders don't give much more than ally at this point. He mentioned 1-2 year bond vehicles, but I've never heard of them. There's nothing that will get you more growth without putting your down payment at risk. The amount you save over the next 18-24 months will affect your spending power far more than its growth rate of where you have the savings, if that helps. Also be aware that you can't touch ibonds for a year after you buy them, and there are penalties for withdrawal before 5 years. Work that math out before you buy more. What I'm saying is you might lose vs. inflation in savings, but you won't lose anything else even if there's another 2008-style crash, and this risk mitigation is probably worth more than another $1000 in your down payment fund.
|
|
#
?
Dec 6, 2021 21:13
|
|
|
pokie posted:Either way, we accepted their counter that was equal to our max escalation amount. That's usually how escalation clauses end up, since you've disclosed your max offer and the seller usually is under no obligation to disclose the other offers. But maybe that's how it would have shaken out anyway. Congrats and condolences!
|
|
#
?
Dec 6, 2021 22:34
|
|
|
Magicaljesus posted:That's usually how escalation clauses end up, since you've disclosed your max offer and the seller usually is under no obligation to disclose the other offers. But maybe that's how it would have shaken out anyway. Congrats and condolences! This is total game theory stuff. I wonder if a seller's agent has ever been caught lying about other offers? With mine, they gave a lightly redacted copy of the closest offer, but it seems very easy and incredibly advantageous to lie about if you're under no legal obligation to share. I used an escalation clause.
|
|
#
?
Dec 6, 2021 22:38
|
|
|
Inner Light posted:This is total game theory stuff. I wonder if a seller's agent has ever been caught lying about other offers? With mine, they gave a lightly redacted copy of the closest offer, but it seems very easy and incredibly advantageous to lie about if you're under no legal obligation to share. I used an escalation clause. Same here. it was pretty odd in our case with the amount. It kind of seemed shady but I was willing to pay more so who knows.
|
|
#
?
Dec 6, 2021 22:45
|
|
|
|
| # ? Jun 4, 2024 21:38 |
|
|
Magicaljesus posted:That's usually how escalation clauses end up, since you've disclosed your max offer and the seller usually is under no obligation to disclose the other offers. But maybe that's how it would have shaken out anyway. Congrats and condolences! Thanks! The agent told us there were 7 other offers in the last ~3 days. Nutso.
|
|
#
?
Dec 6, 2021 22:48
|
|