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I’m to the point where I’m just going to list my condo and take the highest amount even though I have no place to live. I’ll couch hop at families places at this point.
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May 27, 2022 22:49
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1st_Panzer_Div. posted:Weekly redfin data is out and despite the news articles saying prices are dropping and the correction is here... People are screaming recession recession but housing seems to be doing OK right now. In Chicago renting is generally cheaper than a mortgage and has been for many years but I bought because I’m a moron.
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May 28, 2022 00:05
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This will be my first time purchase FYI, I'm also a handyman and can likely fix certain things on my own. Major issues on the inspection: Foundation-good Structure-good Electric and plumbing-good, upto code Furnace, AC, hot water tank, electrical panel- all less than 3 years old, furnace needs serviced because it's short cycling for an unknown reason Problematic: Roof is near it's end of life, but no leaks A large back deck is hanging too far over it's supports, likely needs vertical beams installed. Walk way on side of house is slightly sloping towards the house resulting in some moisture seeping through the brick I really don't know where to go from here and what is/isn't realistic in seller concessions 🤬
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May 28, 2022 00:46
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cr0y posted:This will be my first time purchase FYI, I'm also a handyman and can likely fix certain things on my own. If your market is still hot it’s not going to be favorable for repairs as everyone is trying to get into something before rates get more painful and the next buyer on the list will probably take as-is, especially if there are only minor issues.
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May 28, 2022 01:06
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Anza Borrego posted:If your market is still hot it’s not going to be favorable for repairs as everyone is trying to get into something before rates get more painful and the next buyer on the list will probably take as-is, especially if there are only minor issues. Pittsburgh FYI, and yeah what you said is basically what I was thinking as well.
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May 28, 2022 01:22
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cr0y posted:Pittsburgh FYI, and yeah what you said is basically what I was thinking as well. We had a good inspector and asked for $12k of life safety repairs for our house and the listing agent let us know that they had confirmed that the next buyer in line would take it as is. We withdrew the Request for Repairs and moved forward. Wouldn’t have done so if the house wasn’t in good condition, which is part of why we put in an offer that was over list.
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May 28, 2022 01:29
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The market is in a weird spot right now. Went with my realtor last weekend to several showings and didn't find anything we liked enough to pursue. But my realtor actually had a seller's realtor reach out to her asking if we were going to put in an offer! Totally unheard of even like 2 months ago. (the house was very nice, the neighborhood not so much) Also seen some price decreases including substantial ones of $40K or more. This is in the LA-Torrance-Long Beach area. We're hoping to capitalize on this and get a house without any insane competition. Saw an awesome house yesterday we plan to put together the offer on and I guess present on Tuesday after Memorial day. Have some more open houses and showings today in the meantime.
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May 28, 2022 14:54
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(ignore the typos in the summary, the dude openly admitted he uses voice to text) This is an outside wall and the other side is a inward sloping walkway causing water flow towards the structure. Assuming I can deal with the walkway what are the implications of this sort of water damage? The structure is block/brick FYI  
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May 28, 2022 18:40
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cr0y posted:(ignore the typos in the summary, the dude openly admitted he uses voice to text) Nobody here knows what's behind that wall or even what the finishing material is made of for sure and certainly not low long and how often it's been wet. Worst case you're gutting an entire finished basement full of moldy insulation and wall cavities. Best case it dries out on it's own. It's most likely somewhere in between those two. Your question is a perfect example of the limitations of a non-destructive buyer's inspection.
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May 28, 2022 18:59
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That being said, with that kind of seepage, my guess is you're a lot closer to the 'dried out on its own, maybe a slight bit of mold inside that wall cavity' than you are to full gut.
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May 29, 2022 01:13
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1st_Panzer_Div. posted:Weekly redfin data is out and despite the news articles saying prices are dropping and the correction is here...  Nothing unhealthy about this at all.
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May 29, 2022 03:27
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Yes, I know I am an idiot for considering to buy, but ... ... how does a first time buyer find a buyer's agent? The second post had this blurb "Make sure your prospective Buyer's Agent can satisfactorily answer these concerns", but I have no idea what a satisfactory answer looks like to the questions listed.
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May 29, 2022 03:55
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theHUNGERian posted:Yes, I know I am an idiot for considering to buy, but ... #1 - Google #2 - Grab those free housing packets that you see in kiosks near newspapers or in restaurant lobbies sometimes. They have tons of realtor/agent ads in them. #3 - https://naeba.org/ Go here, find your region, look for someone.
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May 29, 2022 05:29
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I can't tell if Redfin's charting is accounting for inflation. Does anyone know?
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May 29, 2022 06:48
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Sundae posted:#1 - Google Right, let me rephrase. How do I know if a buyer's agent is any good? Because according to google/ads, all of them are just the absolute finest.
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May 29, 2022 13:49
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theHUNGERian posted:Right, let me rephrase. How do I know if a buyer's agent is any good? Because according to google/ads, all of them are just the absolute finest. Ask family/friends/coworkers for a recommendation if possible. You can always interview a few candidates to narrow down a choice if you get multiple recs.
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May 29, 2022 13:56
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Sirotan posted:Ask family/friends/coworkers for a recommendation if possible. You can always interview a few candidates to narrow down a choice if you get multiple recs. Sounds good, thanks.
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May 29, 2022 14:10
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You're also not stuck with your REA until you sign an exclusivity contract. We got a rec for one, second house showing realized he was racist, fired him that night, got another one, then unfortunately got a house.
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May 29, 2022 16:22
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Yeah, sourcing from people you know who bought a house they’re happy in will be your best bet.Johnny Truant posted:You're also not stuck with your REA until you sign an exclusivity contract. We got a rec for one, second house showing realized he was racist, fired him that night, got another one, then unfortunately got a house.  Did I already forget the story behind this one?
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May 29, 2022 16:24
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Pollyanna posted:
lol I don't think I really mentioned it. First showing he commented on there being apartment complexes close to the home, which yeah that can bring the value down afaik, but the way he said it made my partner and I give each other a side glance. Next showing before he even entered the home he pointed down the street and said "there's large rent-controlled apartments fairly close to here so you know that there's some bad stuff happening here and not good people" or something to that effect.
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May 29, 2022 16:44
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Johnny Truant posted:lol I don't think I really mentioned it. First showing he commented on there being apartment complexes close to the home, which yeah that can bring the value down afaik, but the way he said it made my partner and I give each other a side glance. Next showing before he even entered the home he pointed down the street and said "there's large rent-controlled apartments fairly close to here so you know that there's some bad stuff happening here and not good people" or something to that effect. How is that racist?
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May 29, 2022 19:40
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nwin posted:How is that racist? It’s also dog-whistly af
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May 29, 2022 20:40
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nwin posted:How is that racist? Like Dik Hz mentioned, it's a dog-whistle. When someone complains about "bad people" in "rent-controlled apartments," nine times out of ten it's code for "minorities." Class and race are heavily interlinked in the USA, and some people hide their racist statements in classist statements (intentionally or not). My company's apartment agents in Indiana did a lot of that with me while giving us tours of the area. Lots of, "well, the rent in this area is nice and cheap, but you know what kind of people move in where it's cheap, right? I wouldn't let your wife walk around here after dark, I mean. Too many low-income and welfare people." They don't mean low-income / welfare; they mean minorities.
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May 29, 2022 21:09
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One realtor showed me a house he clearly knew nothing about, looked British and dressed in a 40's British longcoat despite the lack of rain, almost fell down a 20' drop in the backyard, and made some weird racist comments about Turkish people for some reason.
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May 29, 2022 21:30
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I find the most important thing in finding a house is talking to the adjacent neighbors before making an offer to see how insane they are. Put this in the offer as a contingency.
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May 29, 2022 22:13
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If the usual sites show <10 options in my area of interest that are within my budget, should I be expecting any pocket listings at all? Or is it impossible to tell because the number of pocket listings depends on completely different parameters?
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May 29, 2022 23:28
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theHUNGERian posted:If the usual sites show <10 options in my area of interest that are within my budget, should I be expecting any pocket listings at all? Or is it impossible to tell because the number of pocket listings depends on completely different parameters?
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May 30, 2022 01:30
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Elephanthead posted:I find the most important thing in finding a house is talking to the adjacent neighbors before making an offer to see how insane they are. Most of us our house shopping in America where it's a given your neighbor will be batshit  In regards to redfin data; inflation is selectively applied where logical (I don't think any of their published charts use these metrics), many of them adjust for seasonality and full year adjustments - including their 2/4/12 week MA figures. In general the published charts are great for seeing y/y trends, but it takes a bit of effort (download the data to Tableau/BI yourself) to get more. I've been dropping national, PDX, & PDX [my new neighborhood] data into Tableau as of late, but haven't been doing any modeling myself. As an aside - Redfin employs a shitload of data analysts and even some 'economists', but there's (at least was) just a 4 person dept. that actually produced the Tableau datasets. Like many companies, despite having many analysts, there was actually only a couple people who understood, lived in, & validated the data; everyone else essentially used a guided product. This did, and presumably does, lead to smart people pushing wildly wrong conclusions because they don't really understand the data. They had a cool article earlier in the year about inflation's correlation with migration.
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May 30, 2022 01:37
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Dik Hz posted:It’s not racist per se, but it is classist. And classism is inextricably linked to racism, so meh. When we were looking in the cheaper part of our area, our rea would repeatedly tell us to spend some time in the neighborhood to see what the block is like. She never said this in the nicer parts, and it didn’t hit me until later that it’s an allowably racist way to ask us if we want to live in that area. meanolmrcloud fucked around with this message at 13:44 on May 30, 2022 |
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May 30, 2022 13:34
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The two houses we viewed with that REA were also in areas where minorities predominantly lived, in a city that's like 80% white people. How interesting!
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May 30, 2022 13:37
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Johnny Truant posted:lol I don't think I really mentioned it. First showing he commented on there being apartment complexes close to the home, which yeah that can bring the value down afaik, but the way he said it made my partner and I give each other a side glance. Next showing before he even entered the home he pointed down the street and said "there's large rent-controlled apartments fairly close to here so you know that there's some bad stuff happening here and not good people" or something to that effect. You fired you agent for looking out for your best interest? OK.
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May 30, 2022 14:21
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daslog posted:You fired you agent for looking out for your best interest? OK. The good neoliberal agent will just not show you the “bad” houses in the first place. 
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May 30, 2022 14:24
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meanolmrcloud posted:When we were looking in the cheaper part of our area, our rea would repeatedly tell us to spend some time in the neighborhood to see what the block is like. She never said this in the nicer parts, and it didn’t hit me until later that it’s an allowably racist way to ask us if we want to live in that area. Read the person saying these things. If you have reason to think they're coming from a racist place, find a new realtor. If they are instead doing their actual job of informing you about the economic and crime details of the neighborhood, then thank in them? We looked at some areas that were primarily white and ended up in an area with a bit more diversity, and I'd say our realtor was more opposed to the other neighborhoods than the one we ended up in. All lower income, but the block we ended up on was all nicely maintained homes except for one of the white neighbors whose yard she kept warning us about (it's full of tents and shacks and what not, very nice guy though).
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May 30, 2022 14:40
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daslog posted:You fired you agent for looking out for your best interest? OK. Looking out for my best interest in a racist/classist way is still racist/classist, hth OP! Slugworth posted:I mean, I get what everyone's saying, but also, as someone a bit lower income who's lived in lower income areas, you can have reservations about them that aren't racist. It's not actually inherently scandalous that your realtor didn't say that in nicer neighborhoods, since they are, you know, by your own description, nicer. It stands to reason you'd like to live in a nicer neighborhood. All true! That was why we gave them the benefit of the doubt the first time.
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May 30, 2022 15:02
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Elephanthead posted:I find the most important thing in finding a house is talking to the adjacent neighbors before making an offer to see how insane they are. lol no. Don't buy a house based on your neighbors, you have zero guarantee who is going to move in next to you after the wonderful people you met move away / die / whatever. The only real exception I can think of is if the neighbors are so obviously lovely you don't want the headache. Like, 8 foot billboard on the front lawn advertising their membership in the Klan kind of lovely. Cyrano4747 fucked around with this message at 16:42 on May 30, 2022 |
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May 30, 2022 16:39
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How often do housing trend reports come out? I can't seem to find anything on redfin that isn't just a YoY average?
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May 30, 2022 17:14
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Cyrano4747 posted:lol no. That's the kind of situation the OP is talking about You can't predict future neighbors but you can learn who your current neighbors are and knowing that they're insane is good info to have when deciding whether to buy a house. Don't buy because the neighbors are nice, do decline a purchase because the neighbors are insane.
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May 30, 2022 18:14
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QuarkJets posted:That's the kind of situation the OP is talking about We looked at a place that photographed well, was priced well but then when we did a driveby we realized why it had been sitting on the market so long: it was right next door to "that house". The one with the unmowed lawn and uncared for landscape beds full of weeds with plants touching the house. Filthy siding, missing roofing shingles. Driveway lined with broken and mostly disassembled lawnmowers, etc. Broken garage door. The place basically looked abandoned other than jim bob sitting out on his lawn chair amidst his hoard of broken yard equipment.
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May 30, 2022 18:35
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Motronic posted:We looked at a place that photographed well, was priced well but then when we did a driveby we realized why it had been sitting on the market so long: it was right next door to "that house". The one with the unmowed lawn and uncared for landscape beds full of weeds with plants touching the house. Filthy siding, missing roofing shingles. Driveway lined with broken and mostly disassembled lawnmowers, etc. Broken garage door. The place basically looked abandoned other than jim bob sitting out on his lawn chair amidst his hoard of broken yard equipment. Pls don’t doxx me
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May 31, 2022 13:58
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Elephanthead posted:I find the most important thing in finding a house is talking to the adjacent neighbors before making an offer to see how insane they are. In my last house, I solved this problem by never talking to the neighbors. In my current house, the neighbor calls me to warn me about storms and brings over fresh-baked banana bread. 
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May 31, 2022 19:54
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