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phosdex posted:Hello, I've never noticed this thread before. I'm the fall do yourself a favor and book a soak at ten thousand waves. Love that place. Anal congrats.
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Jun 12, 2022 02:39
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spwrozek posted:Anal congrats. 
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Jun 12, 2022 02:42
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Gaze upon my works ye mighty and despair
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Jun 12, 2022 02:44
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lol. good ole android swipe! Probably still accurate.
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Jun 12, 2022 04:11
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got to follow along when my friend was trying to buy a house two years ago in houston and wow was it a shitshow. im a lifelong renter and have no idea how buying works, so looking at houses with her and hearing about the process was pretty interesting. everything was gone the moment it popped up on the main sites and was all going for way over the list price. anyway reading this thread every few months is always interesting, thanks to everyone for trying to contribute something. personally, im hoping to buy at some point if the demand situation around here ever chills out. watching the property management company bring in progressively less and less qualified guys to do repairs is getting real old.
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Jun 12, 2022 04:46
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Doctor Party posted:One thing I've noticed about this thread but also on SA in general...there's often a group think that happens that can stifle more coherent discussion. Every once in awhile a new person comes in the same  posters berate/talk down them while maybe providing helpful info but it's more to stroke their own ego than to actually help the person. It shouldn't just be about telling people factual information, it's should be about trying to communicate relevant information without coming off as .
Duck and Cover fucked around with this message at 06:35 on Jun 12, 2022 |
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Jun 12, 2022 06:18
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Sir Tonk posted:got to follow along when my friend was trying to buy a house two years ago in houston and wow was it a shitshow. im a lifelong renter and have no idea how buying works, so looking at houses with her and hearing about the process was pretty interesting. everything was gone the moment it popped up on the main sites and was all going for way over the list price. Idk why you would trust a property management company to do anything else. Last time I rented the property management had one single guy for every trade, painting, plumbing, electrical, etc. I don’t think he was licensed with a single one., I imagine he must have had a certificate of insurance but I have no idea how.
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Jun 12, 2022 15:17
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Home warranties, seems like a good idea? The company that did the inspection gave me a brochure to get one through them, but are there recommended companies instead?
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Jun 12, 2022 15:51
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phosdex posted:Home warranties, seems like a good idea? The company that did the inspection gave me a brochure to get one through them, but are there recommended companies instead? There are very few success stories of actually using a home warranty that I'm aware of. They cover less than you would think, send handymen instead of actually trained technicians, and if they end up having to actually replace anything it's done with the absolute cheapest thing that can be bought that would kinda sorta do the same thing as whatever broke. Lots of real estate agents around here basically give them away with home sales to make people feel good. The coverage is cheap so why not? Also, remember that insurance is not a charity so there's a very good reason the coverage is inexpensive. It's because it rarely pays out anything to ayone.
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Jun 12, 2022 15:56
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phosdex posted:Home warranties, seems like a good idea? The company that did the inspection gave me a brochure to get one through them, but are there recommended companies instead? It's required in San Diego, not sure if by law or by lenders, but either way its not really regulated here. You can report them to the Insurance Commissioner, but last I heard all you are going to get is a call on your behalf unless it is really bad.
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Jun 12, 2022 16:21
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Motronic posted:There are very few success stories of actually using a home warranty that I'm aware of. They cover less than you would think, send handymen instead of actually trained technicians, and if they end up having to actually replace anything it's done with the absolute cheapest thing that can be bought that would kinda sorta do the same thing as whatever broke.
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Jun 12, 2022 17:46
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I think a decent rule of thumb is, don't get insurance/purchase warranties on anything you could afford to replace yourself. As has been pointed out, these companies offer these services because on average they make more money on it than you do. The only time to accept that arrangement is situations where not having the coverage could financially ruin you - Auto and health.
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Jun 12, 2022 17:52
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What are the easiest signs to tell if a buyer's agent is bad? I was only referred to one guy, but it appears he retired, so I made the questionable move of asking Citi to help me find a buyer's agent. They partner with Home Captain which does not have confidence-inspiring reviews online (but I also know that online reviews always have a negative bias).
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Jun 12, 2022 18:17
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Slugworth posted:I think a decent rule of thumb is, don't get insurance/purchase warranties on anything you could afford to replace yourself. As has been pointed out, these companies offer these services because on average they make more money on it than you do. The only time to accept that arrangement is situations where not having the coverage could financially ruin you - Auto and health. This makes sense for warranty. But even for homeowners insurance? I'm buying my house in cash so I don't have a lender requiring me to do anything.
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Jun 12, 2022 18:19
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phosdex posted:This makes sense for warranty. But even for homeowners insurance? I'm buying my house in cash so I don't have a lender requiring me to do anything.
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Jun 12, 2022 18:34
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moana posted:Would you be willing to replace your house with cash if it burns down in a fire or floods or whatever? If not, then get homeowners insurance. The reason everybody gets insurance for big things like cars and houses is because it would not be feasible or desirable to pay out of pocket in the worst case scenario. And that's what insurance is, you paying for them to cover you in worst case scenarios. I was just confused because it seems like Slugworth is saying to not get home insurance.
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Jun 12, 2022 18:45
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phosdex posted:I was just confused because it seems like Slugworth is saying to not get home insurance.
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Jun 12, 2022 18:58
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Arsenic Lupin posted:Home warranty companies will probably replace your water heater, but with the caveats Motronic mentioned. Anything major? Hah. They have multiple exclusions that you will not find out about until you try to make a claim. Things that are often excluded: I'm not a fan of home warranties.. we were gifted one on our last house and it sucks. Our agent did give us a brochure on the new house and all of the stuff you mentioned is all on separate modular add ons. Still stupid but it was pretty clear what was covered in the base plan and what had to have separate add ons to get covered.
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Jun 12, 2022 19:45
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phosdex posted:I was just confused because it seems like Slugworth is saying to not get home insurance.
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Jun 12, 2022 21:15
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Parents are in town to discuss housing and wow would you believe it this down payment assistance comes with strings attached. Talking about being the “executive secretary” for the search and proposing two options, either they buy the place and I pay rent or they front the money for the down payment and make use of the place as needed (both their ways of controlling me). Welp, glad I wasted that much time and effort on househunting. No free money indeed. I’m gonna take the time to re-evaluate and build up my own all-cash down instead. See whee we are in a year or two. Things are so much easier when my parents aren’t involved, you’ll all be so much happier too. Pollyanna fucked around with this message at 22:59 on Jun 12, 2022 |
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Jun 12, 2022 21:30
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Pollyanna posted:Parents are in town to discuss housing and wow would you believe it this down payment assistance comes with strings attached. Talking about being the “executive secretary” for the search and proposing two options, either they buy the place and I pay rent or they front the money for the down payment and make use of the place as needed (both their ways of controlling me). Wow that's a couple steps beyond the soft-power manipulation I was expecting. Impressively lovely. At the same time if you can get em to buy a nice house with a standing lease for sub-market rent you can pop a deadbolt on that sucker and change phone numbers, but I wouldn't want to live that life anyway. Good luck out there.
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Jun 12, 2022 23:25
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Haha I mean I can always just…not let them in. But I’m not giving them control over or unfettered access to the property, gently caress that. Franky I’d just feel better being the one to front all the money and not have debts to pay to anyone else. I’ll wait for my inheritance to come in instead of loving with this power play poo poo. Pollyanna fucked around with this message at 23:54 on Jun 12, 2022 |
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Jun 12, 2022 23:51
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Pollyanna posted:Talking about being the “executive secretary” for the search lmfao
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Jun 13, 2022 03:26
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Eesh, sometimes I regret my lack of parenting while growing up, and then sometimes I really don't.
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Jun 13, 2022 10:32
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Pollyanna posted:words Except none of that is news? Because I'm 100% positive you described that exact scenario already quite a while ago and said you could do this without their money if you shopped in the right price range, which is what I assumed you were doing.
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Jun 13, 2022 13:11
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Yeah but now I’m pissed and in a bad mood and don’t wanna think about it. And even then we return to the parts where parents don’t matter, where I was already going to take a step back and evaluate what I actually want. So it extra doesn’t change. Honestly all this really does is annoy me and I wanted to vent, I’ve still learned a hell of a lot from the thread which I’m infinitely grateful for. So it’s not a total waste. But man is it annoying when people start overstepping their boundaries, especially ones you set down at the beginning  There’s also the whole “this real estate agent is showing me things with the intent of getting my parents’ money instead of my money” thing which is annoying but unsurprising. Anyway. I’m still considering buying, just don’t wanna deal with the asspain of using their down assistance. My siblings can deal with that instead. Plan B and C it is. Pollyanna fucked around with this message at 14:04 on Jun 13, 2022 |
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Jun 13, 2022 13:31
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Be thankful they showed their true colors to your face rather than getting stabbed in the back at some later point.
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Jun 13, 2022 14:58
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That’s what Motronic is pointing out - this isn’t the first time they’ve done something like this. Just that trying to keep them at arm’s length while securing funding from them didn’t work either.  I don’t need them and I don’t wanna babysit their asses. If they’re gonna buy, they’re gonna be independent in that matter. I’d rather spend my own funds.
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Jun 13, 2022 15:01
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Well this thread got extra spicy while I was busy this weekend. I don't want to entirely resurrect the various points of argument, but I do want to say this, since there's been accusations: I do not think that this thread should be unfriendly to new posters. I do think that a "tough love" hard-talk approach to disabusing people of their notions can go overboard. I think we all are aware of a strong bias in American society toward the quasi-mythical American Dream, part of which is a detached house with a white picket fence in a meticulously groomed suburb, with 2.5 kids and a golden retriever that is the pathway to the upper middle class (white) Perfect Life... and we may sometimes be over-enthusiastic about countering that narrative with buckets of ice water. That said, I've made hundreds of posts in this thread over the years and I've tried to take a balanced approach personally toward giving people as personalized advice as I can. I must have said many many times that real estate is local: general advice in which we talk about what's happening in the whole market, or talk about how much of someone's income they "should" spend on housing, or talk about what "a good" down payment is, should always take a back seat to advice given to a specific poster tailored to their specific details. A local real estate market is often quite different from a national trendline. Individual finances often include details that matter a lot. A person's life situation and plans are of paramount importance. For example, I've beaten a drum for years about people considering carefully whether and what to buy if they're single (but might become a couple) or have no kids (but might have some). Suddenly, maybe you want more rooms than you bought, or care about school districts, or might have a spouse who needs to live closer to their job. I post about these things because I think they're sometimes overlooked, and yes, all of these examples happen to be about why a person might not want to buy after all. But people coming into the thread already have a bias toward buying. Nobody seeks out and starts reading and posting in the house-buying thread in BFC because they're not considering buying at all, and need to be talked into it! I think that creates an inherent slant to the thread that is unavoidable. If someone is thinking about buying, they must have at least one reason in favor of buying that they're thinking of: we're less likely to need to tell them why to buy, and more likely to need to caution them on some of the reasons not to. I think that's inescapable. Given the several posters' complaints, though, I think we should take seriously the notion that we need to take better care of new posters. There are good reasons to buy houses, at any time or now, for many people, and we shouldn't be so one-sidedly focused on cautioning folks that we come off as anti-home-buying across the board. My parents are shopping for a house in Colorado Springs, right now. It feels like a bad time to buy, there: prices have spiked massively since 2019 (ahem). But now is the time for them to buy, for overriding personal situation details. They know what the risks are, we all acknowledge them, so they're not being blindly optimistic or leaping into a bad decision without realizing it. They're just going to have to suck it up if the market pulls back, it'll suck to think "if we'd waited a year we could have saved X amount or gotten this house for Y less!" but that's a risk they've accepted. I think if my stepdad wandered into this thread today and posted his details, reasonable posters would tell him "holy poo poo, are you sure?" and then he'd reasonably lay out why he is, and all of us - even Motronic - would be like "well OK, you can afford it for sure, you understand what's going to be needed, go for it, and if you want help evaluating listings or whatever, feel free to ask any time!" tl;dr, I think we can do a better job of being friendly to new posters who are asking about buying a house. We can list reasons to buy along with reasons not to buy. We're usually going to be talking to someone who already has reasons to buy, though, so listing cautions and caveats is usually going to be the important part. Leperflesh fucked around with this message at 17:47 on Jun 13, 2022 |
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Jun 13, 2022 17:44
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Mortgage News Daily has their survey rates for 30y-Fixed at 6.13% today. Up from 5.50% last week. What the gently caress. Do they hit 8% by the end of July?
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Jun 13, 2022 20:13
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Diva Cupcake posted:Mortgage News Daily has their survey rates for 30y-Fixed at 6.13% today. Up from 5.50% last week. Maybe. The sub 5% interest rates are not and have never been historically the norm. They're just what we're used to the last 10 years or so. I think my first mortgage was 5.5% in last 2009 on a FHA loan.
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Jun 13, 2022 21:36
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Looking forward to losing all of my equity as prices come down to meet what people can afford with the new interest rates. I bought years ago at 3.875% and bought again last year at 2.75%. Checking a mortgage calculator, there's no way I could have afforded the house that I bought, at the price I bought it at, for 6.1% interest. My budget would have been reduced by roughly 30%. There's simply no way things can keep going this way, prices and interest rates both rising.
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Jun 13, 2022 21:45
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QuarkJets posted:Looking forward to losing all of my equity as prices come down to meet what people can afford with the new interest rates. I bought years ago at 3.875% and bought again last year at 2.75%. Checking a mortgage calculator, there's no way I could have afforded the house that I bought, at the price I bought it at, for 6.1% interest. My budget would have been reduced by roughly 30%. far off, from somewhere deep in a godsforsaken scummy Dunkin’s cup littered alley, echoes a faint, mournful cry: you hosed with the wrong cityyyyy
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Jun 13, 2022 21:49
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Look there is only half as many scummy DD cups now since they stopped people getting an XL hot cup to put the L iced coffee regular they buy in so their hand doesn’t get frost bite in the middle of February.
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Jun 13, 2022 21:53
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Things have gotten stupider in the market I'm in; lotta things were doing for between list and 10% above, now it's 20% or even 25% for not exactly prime real estate. Rate locks expiring left and right I guess.
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Jun 13, 2022 21:54
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QuarkJets posted:There's simply no way things can keep going this way, prices and interest rates both rising. Why not? Look I've felt the same way about several things. There's no way there's a market for a 85,000 dollar F-150, or a 110,000 dollar Jeep, yet they keep selling them even with auto loan rates going up. I just got back from Disney World where costs have almost doubled in 6 years, it's still busy as ever. Houses are still selling in record time at record prices even without 2.75% financing. So yeah, things that I sit back and say "no way" to keep happening so now I'm on the other side it. Why not is the better question.
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Jun 13, 2022 21:56
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QuarkJets posted:Looking forward to losing all of my equity as prices come down to meet what people can afford with the new interest rates. I bought years ago at 3.875% and bought again last year at 2.75%. Checking a mortgage calculator, there's no way I could have afforded the house that I bought, at the price I bought it at, for 6.1% interest. My budget would have been reduced by roughly 30%. From what I’ve seen in my local market at my price point is that housing inventory has markedly increased from just a few months ago but sellers are being very stubborn in listing their prices at the high water mark. Will be interesting to see who blinks first. I opted out and signed a 2-year lease in my target neighborhood. I would have preferred to have bought for lifestyle reasons but when I ran the numbers renting was by far the superior choice even if I had purchased with 20% down payment.. Will keep saving and hopefully purchase in 1.5-2 years from now.
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Jun 13, 2022 22:00
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skipdogg posted:Why not? Ford has other vehicles (including F150s) at lower prices. If Ford suddenly increased the price of all of their vehicles by 30%, can we agree that they would wind up selling fewer vehicles?
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Jun 13, 2022 22:18
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laxbro posted:From what I’ve seen in my local market at my price point is that housing inventory has markedly increased from just a few months ago but sellers are being very stubborn in listing their prices at the high water mark. Will be interesting to see who blinks first. Well it won’t be me just yet. I just came back from a showing for an 850k condo being bumped down to 800k in an area that most certainly does not command that high a price, and I am not confident in a market that’s changed this much over the past 6 months (just as I started looking!). I don’t have pressure to buy, so I can play chicken a little longer - I’m calling the market’s bluff.
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Jun 13, 2022 23:01
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QuarkJets posted:Ford has other vehicles (including F150s) at lower prices. If Ford suddenly increased the price of all of their vehicles by 30%, can we agree that they would wind up selling fewer vehicles? https://www.caranddriver.com/news/a38748092/new-car-average-sale-prices-47100/ Up 20% and selling everything they can make*. * less than they used to, but there’s some fun parallels to the housing market. Automakers love higher margin feature rich vehicles and have cut back on incentives across the board and are going to try to preserve that as long as they can.
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