|
Ornery and Hornery posted:how do we as buyers figure out if a special assessment is coming? in illinois the real estate disclosures have you verify that no special assessments are planned however, a friend of mine sold his condo after a team of engineers came to survey the building for foundation repairs (right after that florida building collapse) but before the plan/cost was revealed and he could indicate 'no' so caveat emptor you can get special assessment insurance through your homeowners insuranec and its not very expensive, it's a good idea i think
|
#
?
Jun 29, 2022 13:23
|
|
|
|
| # ? May 20, 2024 12:11 |
|
|
Edit: wrong doomer econ thread lol
|
|
#
?
Jun 29, 2022 13:31
|
|
|
Ornery and Hornery posted:how do we as buyers figure out if a special assessment is coming? the condo is for sale
|
|
#
?
Jun 29, 2022 14:05
|
|
|
well poo poo, did not expect to start the day filled with seething hate
|
|
#
?
Jun 29, 2022 14:39
|
|
|
Pittsburgh Fentanyl Cloud posted:the condo is for sale it's a condo
|
|
#
?
Jun 30, 2022 00:12
|
|
|
The Oldest Man posted:it's a condo  some spicy HOA fees
|
|
#
?
Jun 30, 2022 00:17
|
|
|
15000 a year better buy a lot
|
|
#
?
Jun 30, 2022 00:17
|
|
|
euphronius posted:15000 a year better buy a lot hey that ugly rear end unbroken expanse of concrete isnt going to keep itself depressing as gently caress
|
|
#
?
Jun 30, 2022 00:43
|
|
|
Pead posted:well poo poo, did not expect to start the day filled with seething hate lol noob
|
|
#
?
Jun 30, 2022 00:53
|
|
|
euphronius posted:15000 a year better buy a lot there are places with really high HOA fees, but because they are co-ops not condos, so the home payment is less, and/or the fees cover a lot more (my parents are in a retirement co-op, and it covers replacement of appliances, flooring, etc.). this one obviously has financial issues
|
|
#
?
Jun 30, 2022 01:01
|
|
|
what you don't have a doorman in your condo that wears white gloves and pushes the elevator button for you?
|
|
#
?
Jun 30, 2022 08:24
|
|
|
what the hell are you getting for 1300 a month over your mortgage to live in what looks like an office from the 70's in...pittsburgh?
|
|
#
?
Jun 30, 2022 09:53
|
|
|
bitmap posted:what the hell are you getting for 1300 a month over your mortgage to live in what looks like an office from the 70's in...pittsburgh? probably covers gas/water/electricity/cable/internet and a doorman. it'll be funny to see how these condo assocations deal w the skyrocketing gas prices, maybe they'll issue a special assessment to cover the shortfall
|
|
#
?
Jun 30, 2022 11:24
|
|
|
repairing and maintaining a giant concrete building is also not cheap. elevators, walls, paint , tubes , pipes , ducts , windows , etc etc
|
|
#
?
Jun 30, 2022 12:24
|
|
|
I hope it's paying to maintain that 40 year old reinforced concrete because otherwise lol
|
|
#
?
Jun 30, 2022 12:33
|
|
|
look you get access to our state of the art swimming pool! it should be repaired and ready by the end of august, if not we swear it'll be open again next summer
|
|
#
?
Jun 30, 2022 13:50
|
|
|
bitmap posted:what the hell are you getting for 1300 a month over your mortgage to live in what looks like an office from the 70's in...pittsburgh? security keeps the poors out although afaict the rich and famouos around here just live on a controlled access island in the river, a highrise condo is passe now.
|
|
#
?
Jun 30, 2022 17:02
|
|
|
Archduke Frantz Fanon posted:look you get access to our state of the art swimming pool! it should be repaired and ready by the end of august, if not we swear it'll be open again next summer why are pools $50k now
|
|
#
?
Jun 30, 2022 17:17
|
|
|
https://www.nytimes.com/interactive/2022/06/30/realestate/30hunt-mcquirter.html narrator: 800k was not enough eventually bought a duplex for just over 1.2m with help from "a gift from his father" and is renting part of it out for 6k/month lmao
|
|
#
?
Jun 30, 2022 17:55
|
|
|
Cabbages and Kings posted:we are probably on the same page, I have worked in tech since 2000, I've had three jobs where part of my comp was stock, and I have always treated the stock as virtual toilet paper not worth considering in any kind of planning, until / if it actually converts to hard cash. Honest question, how is that area of Vermont? It looks pleasant and green, and the housing costs don't seem too outrageous, and the available places kinda charming. I've been obsessed with it since I saw Time Chasers.
|
|
#
?
Jun 30, 2022 19:57
|
|
|
actionjackson posted:https://www.nytimes.com/interactive/2022/06/30/realestate/30hunt-mcquirter.html quote:When he saw the East Hollywood duplex, he was smitten and made a $1.21 million offer — below the asking price, because the property had been on the market for months. After learning that developers had also submitted offers, he bumped his bid up to $1,217,500 and wrote what Mr. Wilson described as a “love letter” to the sellers, assuring them that he planned to keep the house a home. And then quote:He’s currently renting out the property for a total of $6,000 a month, and plans to continue renting out part of it long term. What a scumbag
|
|
#
?
Jun 30, 2022 20:40
|
|
|
Failson posted:Honest question, how is that area of Vermont? It looks pleasant and green, and the housing costs don't seem too outrageous, and the available places kinda charming. Rutland is probably the worst place in Vermont to live. That's still better than a lot of places in the US, but it has all of the disadvantages of small run down cities outside of VT and few of the advantages of being in VT. Housing in VT is also hosed because nothing has been allowed to be built in the last fifty years, so anything at the ~$300k price point is going to be from the 70s or earlier, not well maintained, and need significant repairs. Since there's nothing else at the bottom of the market, they will still sell, over asking, in about a week. Higher up the price point we're starting to see properties sit for a bit, but those are only affordable if you have a job out of state. If you are trying to find a house to buy in VT, you will need to use this to determine whether you will be able to get internet access at all https://vtpsd.maps.arcgis.com/apps/View/index.html?appid=c47f156cef4a4db0b407333fc5dab63f. You should also investigate what the local property tax rates are as they're likely to be in the 2.3-2.6 range.
|
|
#
?
Jun 30, 2022 22:15
|
|
|
euphronius posted:repairing and maintaining a giant concrete building is also not cheap. elevators, walls, paint , tubes , pipes , ducts , windows , etc etc 50 apartments in that building. must be one hell of a shithole if it cost 65,000 a month to maintain.
|
|
#
?
Jul 1, 2022 09:29
|
|
|
bitmap posted:50 apartments in that building. must be one hell of a shithole if it cost 65,000 a month to maintain. It hangs down the side of a cliff, I'm sure that complicates maintenance somewhat
|
|
#
?
Jul 1, 2022 14:37
|
|
|
Land lord is a loving funny name. The LORD of land!
|
|
#
?
Jul 1, 2022 23:55
|
|
|
Stick a fork in the market, it’s loving tanking. We had an open house today after doing a price reduction this week. One person came. We’re well under what would have been market value a few weeks ago and basically the only house on the market in the area with land that is in good shape. Going to drop the price another 10% tomorrow and see what happens. Our agent said all her client’s properties are like this right now. No calls. We’re still ahead on the house if we sell even with another 10% drop. Gonna be loving brutal in a month or two if we don’t sell though. I see a lot of houses in our range that haven’t changed prices and have been sitting for 30 days. And there’s pretty much nothing going pending. The rate change looks like less of a correction than a full on panic, lol.
|
|
#
?
Jul 2, 2022 21:30
|
|
|
Lawlicaust posted:Stick a fork in the market, it’s loving tanking. We had an open house today after doing a price reduction this week. One person came. We’re well under what would have been market value a few weeks ago and basically the only house on the market in the area with land that is in good shape. Yeah /r/RealEstate has been melting down over the current state of the market, at least you seem to have accepted that interest rates determine monthly payments which determine home prices   
|
|
#
?
Jul 6, 2022 14:01
|
|
|
Beached Whale posted:Yeah /r/RealEstate has been melting down over the current state of the market, at least you seem to have accepted that interest rates determine monthly payments which determine home prices I wish I could blend these into a smoothie and drink them
|
|
#
?
Jul 6, 2022 14:05
|
|
|
Pittsburgh Fentanyl Cloud posted:
I keep getting ads for the fuckoff huge condo building nearby where 2br-2ba, 1500sq ft units are $200k But the HOA fees are like $900
|
|
#
?
Jul 6, 2022 14:31
|
|
|
low price, low fees, looks nice, just don't go north at all https://www.zillow.com/homes/916-Emerson-Ave-N-.num.D-Minneapolis,-MN-55411_rb/2074156659_zpid/
|
|
#
?
Jul 6, 2022 16:24
|
|
|
they find this guy's listing in the comments and his agent included the unfinished basement in the square footage
|
|
#
?
Jul 6, 2022 17:26
|
|
|
Beached Whale posted:Yeah /r/RealEstate has been melting down over the current state of the market, at least you seem to have accepted that interest rates determine monthly payments which determine home prices Zero bites after our price reduction. My new employer will buy me out for whatever the home appraises at (likely another 20% off or so) so I'm probably just gonna take that and get out of here cash neutral. Since we are having to relo, I got a preapproval in case we want to buy another home and my phone will not stop ringing because all the credit companies of course gave our information out to mortgage brokers. I have a dozen different brokers that are calling my wife and I nonstop. I'm guessing they aren't getting many sales and are getting really desperate.
|
|
#
?
Jul 6, 2022 17:32
|
|
|
Failson posted:Honest question, how is that area of Vermont? It looks pleasant and green, and the housing costs don't seem too outrageous, and the available places kinda charming. I've only been there 3-4 times, a couple times to rent a UHaul, and a couple times to eat out or take kiddo to the children's center there (not since COVID, sadly, we'll see how next year looks). My gut reaction is that I like Rutland, I think it's a nice little city in a more rural part of the state, this necessarily means it has a higher percentage of lower income residents than Burlington which in turn means the property crime and hard drug use numbers for the area look worse than Burlington. The flipside is that ritzy fuckin Burlington co-ops still have needle drops in the bathrooms. That's fine with me, I think if drug abuse is a problem in an area then that area should deal with it as cleanly and humanely as possible, but my point is that I think a lot of young liberals with limited experience living outside the bubble, move to Burlington or surrounding area, drive through Rutland twice and see a couple spots they wouldn't feel safe parking at night and then proceed to spend 5 years posting on reddit.com/r/vermont about how "dangerous" and "seedy" rutland is. I like it fine. When we're comfortable doing more poo poo inside, we'll go back, we'll take our kids, etc. No, I won't park in a random industrial area late at night and then hang around my car smoking cigarettes and shooting dirty looks at people but I wouldn't really feel safe doing that anywhere and it sounds like a boring hobby my sister found an apartment she likes for like 1400/mo with everything which is steep for a 1 bedroom but I guess it's really nice and is allowing her cat and she's happy with it. I hope she likes the area enough to buy in in the next couple years.
|
|
#
?
Jul 6, 2022 17:46
|
|
|
wait what the gently caress? the person changed their 360k listing to 340k, got an offer for 325k, and thinks that's "insulting"? seriously, the gently caress? That's basically equivalent to the negotiation we did on this place in 2017, except it's more like "that's where we landed after lowballing more and haggling a bunch". Seems completely loving normal. You wanna sell a place, someone is offering 95.58% of your asking price, and you find this insulting? Dude has never tried to buy a magic orb from a deevil, that's for fuckin sure
|
|
#
?
Jul 6, 2022 17:49
|
|
|
Cabbages and Kings posted:wait what the gently caress? its insulting because everyones entitled to rising house prices (when they are selling)
|
|
#
?
Jul 6, 2022 17:54
|
|
|
Lol @ the phrase "a more rural part of Vermont" But I also haven't been since 2014 so nevermind.
|
|
#
?
Jul 6, 2022 17:57
|
|
|
prices still high for my area
|
|
#
?
Jul 6, 2022 18:00
|
|
|
Cabbages and Kings posted:wait what the gently caress? If he bought it in 2013, he’s likely making a substantial amount off the house even at 325k. I would assume he paid half that initially (maybe 200k at most) and at this point probably owes $100k. Taking $225k sounds great to me. poo poo, I just want to sell the place we’re in now and make a small profit with the way the market is. I’d take $30k under my current asking without blinking because it’s gonna be way lower in 2 months.
|
|
#
?
Jul 6, 2022 18:00
|
|
|
hey it's starting to go down
|
|
#
?
Jul 6, 2022 18:57
|
|
|
|
| # ? May 20, 2024 12:11 |
|
|
actionjackson posted:hey it's starting to go down jay, jayyyyyy
|
|
#
?
Jul 6, 2022 19:12
|
|