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mattfl posted:Personally I don't feel any house in my neighborhood is a 600k house unless it was on the golf course. Houses generally sell within a few weeks on the market in this area, but normally at the under $450k price point. I think $600k is going to be pushing it for this neighborhood. My house, which is a few hundred sq/ft smaller and no pool recently got appraised at $435k during our refinance to give you an idea of what I'm comparing it to. In addition to the appliances/finishes mentioned, “a few hundred square feet” can easily translate into $40-50k, especially if your house doesn’t have a fourth bedroom. The pool/spa/enclosure I would guess adds 60-80k to the price (and right now probably costs about 100-120 to build, with an eight month lead time) If your house has no covered porch or lanai, yeah the entirety of the back yard could theoretically add 100k to the price. Also house prices down here have gone absolutely bonkers in the last year. Like a 20% increase.
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May 6, 2022 00:55
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1st_Panzer_Div. posted:Lol - https://www.redfin.com/OR/Portland/6815-N-Commercial-Ave-97217/home/26507159 That’s good housing stock for the price in this town bruh.
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May 6, 2022 03:35
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therobit posted:That’s good housing stock for the price in this town bruh. That's a 900 square foot house with 1300 sqft of lies! I hate that some places goose the listing a bit with adding below grade sqft.
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May 6, 2022 04:11
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TheLawinator posted:That's a 900 square foot house with 1300 sqft of lies! I hate that some places goose the listing a bit with adding below grade sqft. Try looking at loving condo listings in cities where the Real Estate Professionals add the sq ft of the deeded parking garage space.
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May 6, 2022 04:13
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TheLawinator posted:That's a 900 square foot house with 1300 sqft of lies! I hate that some places goose the listing a bit with adding below grade sqft. I’ve been shopping for a beach house and a ton of the listings where I am looking are manufactured and mobile homes listed as single family.
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May 6, 2022 04:40
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therobit posted:I’ve been shopping for a beach house and a ton of the listings where I am looking are manufactured and mobile homes listed as single family. No shade on the beach house option, but I’ve often wondered, how is your ownership going to compare to airbnbing instead? Think you’ll save over the long haul?
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May 6, 2022 05:55
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Pham Nuwen posted:Would you guys buy a house that was close to a high-voltage transmission line? Last weekend I saw a very nice house with 230kV lines running directly over the (quite large) back yard. This weekend we're going to look at another place which happens to also have 230kV lines running over the property. In this latter case, it's an 11 acre plot and the lines cross over a pretty large portion of the area, and the house is about 50m from the path of the power lines. The only credible sources I've found for health risks due to power lines is a slight increase (like 40-70%) in the chances of childhood leukemia if you live within 50m... and while childhood leukemia sucks pretty loving bad, that doesn't seem like an incredibly huge increase. Huge grain of salt here as I just came from the 34th public meeting on a new double circuit 345kV transmission line in the last 8 months... Would I buy one? Yes and no. It depends on how close to the house honestly. I have no concerns about the safety of them or my health though. I would probably want the house out of the fall radius. Health impacts are zero. Study after study show this. The internet is dumb. Dr. Mark Israel has studied this for 30-40 years (childhood cancer being his area of practice). Your state/country may put limits on magnetic fields if you want to look into that. a single circuit 230kV line will typically have less than 5 mG of magnetic field at 50M away. It is non ionizing radiation. The American Conference of Governmental Industrial Hygienists puts limit exposure at 1000 mG for a comparison. Cyrano4747 posted:Health risks aren’t a huge thing but it’s going to make the house harder to sell down the line. Most research I have seen (not done by the Realtor associations...) shows that with the line being there already it has no impact on the home price. DaveSauce posted:Yeah they're safe for the most part. The issue is that people think they're unsafe, or people think they're eyesores, so the house won't sell for as much as an identical house away from power lines. The will someone else buy it question is an tough one. It can take longer to sell but people buy houses with power lines of all voltages in the back yards all the time. Kind of up to the buyer if it is worth dealing with that in the future. The line has no impact on Cell (we add ATT and verizon sites to our poles all the time) or on wifi. AM/FM can be impacted, also ham radio folks can be impacted. Most likely not an issue for AM/FM though (especially at 230 kV). Motronic posted:
Some, but not all think they are ugly, some don't care and get a "deal" on a house. Outside of construction most high voltage power lines will see a foot patrol (drone these days more and more) once a year, realistically almost no activity for 20-30 years after that. Then maybe something depending on the location, pole material, etc. Noise is a hard one to pin down. It varies a lot on the wire diameter, elevation, if they utility used corona free hardware, how moist it is outside, etc. Generally a 230 kV line will be under 15-20 dBa in fair weather. It is higher when it is raining but rain is very loud. We had a housing development build up around a 250' corridor we have and the lots that backed up to the "open space" (we put a bike trail in) were priced higher than those a few streets over. So who knows some times. To the OP, don't be scared of it but consider it might be harder to sell...maybe. For what you consider a discount, plus some nice land, could be worth it. If you have any other high voltage transmission line questions I am happy to answer them as I have been designing them for 16 years now.
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May 6, 2022 06:02
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Inner Light posted:No shade on the beach house option, but I’ve often wondered, how is your ownership going to compare to airbnbing instead? Think you’ll save over the long haul? I can only give my experience as a second home owner with a ski condo. It runs us about $21K a year to own it. I would estimate we spend 75 nights a year there (friends and family probably another 25). Nightly Airbnb is in the $200-350 range depending on the time of year. at $250/night we do not break even. But we can leave our gear there, take our dog, stay another night if traffic sucks, etc. So not financially optimal but worth it.
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May 6, 2022 06:11
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spwrozek posted:l
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May 6, 2022 11:18
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WithoutTheFezOn posted:I live about 100 miles south of you. Based on what I’ve seen around here the last three years, if your house appraised at 435, I wouldn’t be surprised if they get close to 6 for that, depending. Ya you're probably right, it's just crazy to think houses are selling for that in this neighborhood. We have some friends who are in the process of putting in a pretty simple pool and enclosure and they are looking at spending $65k and hoping it's done by december lol.
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May 6, 2022 12:48
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Update on my NC Triangle search (we're mostly looking Apex, Cary for the public schools). LOTS of price cuts in the past couple of days - lots of houses popping up (presumably to try to get a sale before the demand drops off) and they're staying longer. Seems like a positive turn is coming for the buyers. Not that prices will likely go down by the amount they went up (which was loving double) - but I'm hoping this means things will start going for around list than the ridiculous poo poo that's been happening.
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May 6, 2022 14:53
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Cary was impossible even in 2016. Not sure what it's like now, but I can't imagine it's much better. Apex is much more doable, but prices are way up (I mean, obviously). Biggest downside to Apex is you have to use 55 to get drat near anywhere (at least, if you're avoiding 40 and don't want to pay for 540), and it's getting worse by the day since loving everyone takes it from Fuquay to RTP. It's particularly bad in Apex because it necks down to 2 lanes for a few miles... widening is a challenge because of a single goddamn rail bridge that CSX refuses to cooperate on. They're working on it, but last I heard they had a plan but it's being delayed (fake edit: holy gently caress construction isn't anticipated to start until 2031). Also there's like zero loving restaurants in Apex. I mean, there's plenty, but they're all mediocre at best. Seems like all the good stuff is either in Cary or Holly Springs. But we're in Apex and we like it so  Someone in my office is looking and she said the same thing, that there's an apparent stall in prices around the triangle. So you might be lucky coming up here. edit: she also said that apparently the Triangle market is worse than the NE (Boston, NJ, NY, NOVA) right now both price- and inventory-wise, so lmao. Dunno if it's true, but I'd certainly believe it based on the insane prices houses in my neighborhood have been going for. DaveSauce fucked around with this message at 15:23 on May 6, 2022 |
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May 6, 2022 15:16
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Looked at a house yesterday where the walls were literally soft, part of the outside wall was sagging outwards, there was a huge crack in the wood façade that definitely let rain in, and the floors were like ski moguls. $400,000 in a not super desirable part of the city. Who is even buying these places?
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May 6, 2022 15:34
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Thom Yorke raps posted:Looked at a house yesterday where the walls were literally soft, part of the outside wall was sagging outwards, there was a huge crack in the wood façade that definitely let rain in, and the floors were like ski moguls. Depends on the city. These homes used to be sold to people who wanted teardowns or full gut renos. Now there's so much of this D grade housing stock on the market and enough FOMO I think there's a good chance that a lot of people are buying "before they get priced out of the market" and have no idea that buying a home like that without a fat checkbook is like buying a cheap sports car: it will be the most expensive way to own one.
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May 6, 2022 15:42
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Inner Light posted:No shade on the beach house option, but I’ve often wondered, how is your ownership going to compare to airbnbing instead? Think you’ll save over the long haul?
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May 6, 2022 16:09
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spwrozek posted:I can only give my experience as a second home owner with a ski condo. It runs us about $21K a year to own it. I would estimate we spend 75 nights a year there (friends and family probably another 25). Nightly Airbnb is in the $200-350 range depending on the time of year. at $250/night we do not break even. But we can leave our gear there, take our dog, stay another night if traffic sucks, etc. So not financially optimal but worth it. Any chance you'd be willing to share how the math works out on this? When you say $21k/year to own it, are you saying that's the net inclusive of mortgage payments, maintenance, HOA fees, etc, offset by however much you guys get renting it out?
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May 6, 2022 16:14
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Pham Nuwen posted:In getting my pre-approval letter updated, I've found out that jumbo loans are currently cheaper than conforming or super-conforming loans. At the current rates, buying the house for the list price would actually result in a monthly mortgage payment that's over $300 lower than if we took $50k off the list price, because the discount would bump it from the 4.625% jumbo rate to the 5.5% super-conforming rate. This is weird as gently caress. Coming back to this, I'm trying to figure out what makes more sense:
A lower sale price means that if mortgage rates went back down, we could refinance and then we're working off a lower loan amount... but in the meantime we're paying more per month, and even 5.5% seems to be pretty low looking at historical rates, so "we'll just refinance" is kind of a gamble. Thoughts? spwrozek posted:To the OP, don't be scared of it but consider it might be harder to sell...maybe. For what you consider a discount, plus some nice land, could be worth it. If you have any other high voltage transmission line questions I am happy to answer them as I have been designing them for 16 years now. What sort of restrictions should I expect on use of the land under the lines / around the towers? There are two towers on the property. I assume there's some limits to how close you can build around the towers, how high you can build under the wires, but what else? The land under the lines is just pasture and oaks right now, but it might be nice to put e.g. a hog shed out there.
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May 6, 2022 16:51
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Residency Evil posted:Any chance you'd be willing to share how the math works out on this? When you say $21k/year to own it, are you saying that's the net inclusive of mortgage payments, maintenance, HOA fees, etc, offset by however much you guys get renting it out? Purchase Price was $217,500 Loan was $174,000 at 3.1% on a 20 year. Monthly Payment is $982 Insurance has been $550/yr (HO6 policy) Taxes have gone up a lot but $900 this year HOA is $381 starting this month (just increased 5.5%) Maintenance is pretty minimal since it is a condo. I painted the place, did some electrical, and replaced the vinyl in the kitchen with peel and stick. All told that has been ~$2800. Which you have to amortize over the life of it. All of this is 10+ year life. So maybe call is $500/yr? Furnishing the place was $2500 (only new stuff was a couch, bed frame, and mattress) but we are cheap and buy a lot from second hand stores/yard sales ($2 end table, $40 kitchen table, $60 for kitchen chairs). Call that another $500/yr? Electric is $10/mo and Internet is $75/mo (drat you comcast...) So that puts us at: $11784 + $550 + $900 + $4572 + $500 + $500 + $120 + $900 = $19,826 for 2022 (my math was a bit fuzzy last night) We do not rent it out. We could, although the new county permit system has a bunch of restrictions and such, but I don't really want to. I would rather just let me friends and family stay when they want. The number of nights is a bit of a guess on our usage but 75 is probably close. Looks like we have spent 38 nights there so far this year. A similar unit just sold for $365,000 though so all this math becomes a lot worse. I would have probably stuck with renting places at that price.
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May 6, 2022 17:13
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Pham Nuwen posted:What sort of restrictions should I expect on use of the land under the lines / around the towers? There are two towers on the property. I assume there's some limits to how close you can build around the towers, how high you can build under the wires, but what else? The land under the lines is just pasture and oaks right now, but it might be nice to put e.g. a hog shed out there. You will have to read the easement language but typically you can't have any buildings in the easement. In practice people put small sheds all the time but the utility can usually make you remove them. We don't allow vegetation over 10' tall. In the US there are severe ($1M/day) penalties for tree contacts to lines over 200kV. Fences, gardens, etc. are usually fine. what I usually find is the easement and the utilities processes are very clear but no one reads them and then is mad when they can't do X thing.
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May 6, 2022 17:19
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Residency Evil posted:Any chance you'd be willing to share how the math works out on this? When you say $21k/year to own it, are you saying that's the net inclusive of mortgage payments, maintenance, HOA fees, etc, offset by however much you guys get renting it out? My parents bought a beach house in 2015 or so (for half of the current estimated price, yikes), and they stay there in the winter, and rent it out in the summer. Dad cashed out some stocks and put down about 30%, so that the 14-16 weeks of "peak rental season" would be roughly the annual cost of mortgage, insurance, taxes, utilities. They've put a bunch of money into it that pure profit vacation rentals wouldn't because they're in it six months of the year and want it to be nice for them, and for it to be nice for guests. The cost mostly works out. The downsides are the squatters the first year, the excessive amount of excessively drunk and destructive college students a few years ago, and the rental agency being half assed at running it. It mostly works for them since they're retired and can monitor it a bit more. My Mom jokes that I'd sell it when inheriting it, and that's possible if the water rises too much, but mostly I'd just stop renting it out and eat the cost. Also, that's harder to get into now since the pandemic drove people to work from "home" at the beach instead of a studio in NYC, house prices are up double or triple. Making money on renting that out part of the year is going to be a lot harder.
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May 6, 2022 17:34
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spwrozek posted:You will have to read the easement language but typically you can't have any buildings in the easement. In practice people put small sheds all the time but the utility can usually make you remove them. We don't allow vegetation over 10' tall. In the US there are severe ($1M/day) penalties for tree contacts to lines over 200kV. Fences, gardens, etc. are usually fine. Thanks, I'll be sure to read the easement document carefully if we like the place after touring it. Should I expect the easement to cover the entirety of the land under the lines, or a region around each tower, or will that vary from property to property and utility to utility?
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May 6, 2022 17:47
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Pham Nuwen posted:Thanks, I'll be sure to read the easement document carefully if we like the place after touring it. It will be a strip of land typically between 75-150' wide for 230 kV. It has to encompass the towers and wires and the various locations the wires blow in the wind. E: we do have really old easements that just say we can have the line on the land. If a landowner asks we will convert those to a defined strip though. These are typically 1940's 50's hand shake agreements with a 2 page documentation.
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May 6, 2022 17:51
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Alarbus posted:Also, that's harder to get into now since the pandemic drove people to work from "home" at the beach instead of a studio in NYC, house prices are up double or triple.
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May 6, 2022 18:15
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DaveSauce posted:Cary was impossible even in 2016. Not sure what it's like now, but I can't imagine it's much better. We’ve been renting in Apex for a year - we like it! We moved right into a rental because we had to pick sight unseen (moved here for work/family) so we didn’t want to buy yet. Lol jokes on us. Currently we’re renting in Scott’s Mill. I like the little downtown and the restaurants are fine to me. But we’re a family of four so we’re rarely going out-out. I work in Durham and hop up on 751 and take it allll the way up (I work at the very tip of south Durham so 751 takes me all the way there). Sometimes I’ll use 55 (and yeah I try to avoid 540). We’re about to put an offer on a house in Cary. And also toured a few in NW Raleigh that weren’t that bad but the Cary house seems, to me at least, to be the one that would retain the most value with all the current growth. The Raleigh ones were… fine… but really seemed to be in neighborhoods that were riding the trend and might not be able to sustain it.
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May 6, 2022 19:50
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I gripe about the restaurants, but I have high standards I guess? I'm used to the Minneapolis area, where there are a shitload of options to get good, unique food at a decent price. I'm not a foodie by any means, but that gripe is about the whole Triangle area, honestly... it's getting better, though. There are some gems, and Apex is no exception, but honestly by and large it's hard to find good food around here. The stuff in downtown Apex is solid, for sure, but nothing to really write home about. But that said, we have the small kids thing going on as well, so it's not like we actually get to eat out much anyhow! We chose Cary/Apex because of the central location and schools... so we're like literally everyone else around here. If Cary hadn't been so hard to find stuff in, we would have bought there, but we had to end up looking in Apex, and honestly I'm fine with that now. If we had gone on the far side of Raleigh or Durham, we'd have godawful commutes. If we were looking today, we'd probably consider Holly Springs as well. But I've done long commutes before, and I'd very much like to never have to do them again, so it's worth it to be in a central location and be able to switch jobs without worrying too much about the commute. Morrisville, when we were looking, is... not great. Anything outside of the RDU noise tunnel is high-density, cheaply made crap. The few things we looked at were like 3000 sq ft copy/paste jobs built for dirt cheap and jammed on to a 0.1 acre lot. Honestly I'd highly recommend Apex. Cary is great too, we lived there in apartments for several years, but it's a tough market. For as much as I bitch about Apex, we really like it here. DaveSauce fucked around with this message at 21:54 on May 6, 2022 |
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May 6, 2022 21:47
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DaveSauce posted:I gripe about the restaurants, but I have high standards I guess? I'm used to the Minneapolis area, where there are a shitload of options to get good, unique food at a decent price. I'm not a foodie by any means, but that gripe is about the whole Triangle area, honestly... it's getting better, though. There are some gems, and Apex is no exception, but honestly by and large it's hard to find good food around here. The stuff in downtown Apex is solid, for sure, but nothing to really write home about. Yeah staying in Apex was our number one goal but it just escalated too quickly in price. If some of this stuff comes down a little then we’d love to stay. I’d love to have a little older place near downtown but lol that poo poo got out of hand in price *real* quick. There’s still a hope though. The schools here are great and we’ve made some friends. It’s nice just jumping out to Vicious Fishes and let the kids run around while we all catch up. We briefly teased going down to Holly Springs as well… but the landfill and being just even further away was a bit of a buzzkill. Fuquay-Varina I think is going to be awesome in a few years and if we didn’t have kids we get a big place for cheap out there. Also my brother lives in North Raleigh and we’d like to not get even further away from them. Funny you mention the RDU noise tunnel. We *just* looked at a house there this morning and my first comment to the realtor was that it was cheap builder grade crap as well. Knowing this is going to be a sub-10 year non-forever home we wanted to get something closer to Davis drive to have some good tech-job resale value. As for the restaurants, yeah you’re right there really isn’t a ton of variety. I’m always up for non-Southern food places so let me know if y’all have any favorites. I’m from Mississippi originally so the Southern Food and BBQ here isn’t anything to write home about. That’s about all the kids will eat though.
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May 6, 2022 22:07
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House sale closed today. Now I have half as many mortgages as I did for the whole month of April. The tree in front of the house broke a limb off yesterday in rebellion, so I got to drive over early in the morning to chop it up and take it to the dump. I suppose the house is taking it personally.
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May 6, 2022 23:05
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Crosspost:Facebook Aunt posted:https://twitter.com/MicaBurton/status/1522669981632188417
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May 6, 2022 23:42
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First offer officially submitted. Feeling like I'm going to barf.
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May 6, 2022 23:58
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BonoMan posted:First offer officially submitted. Feeling like I'm going to barf. Yeah buddy. I remember that feeling well. Then the disappointment of getting rejected. Then the anger. Then the apathy. Then I finally got one. Ymmv.
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May 7, 2022 00:18
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nwin posted:Yeah buddy. I remember that feeling well. Better edit: Just wait till they want to think about additions and renovations! Residency Evil fucked around with this message at 00:27 on May 7, 2022 |
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May 7, 2022 00:19
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Ha well luckily we're not first time home owners so we got all the delusional poo poo out of the way last time. So we're aiming for something that needs little to no work.
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May 7, 2022 00:34
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Thom Yorke raps posted:Looked at a house yesterday where the walls were literally soft, part of the outside wall was sagging outwards, there was a huge crack in the wood façade that definitely let rain in, and the floors were like ski moguls. Two of these sold on my street in the last year to a woman in her twenties playing with her parents money who gutted them and turned them into airbnbs. If you don’t need to worry about a mortgage and are willing to sit for a year while the renovation happens because it’s all being funded by the cash your parents made on equities last year, you can get a couple pretty nice places to rent out for $250 a night.
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May 7, 2022 00:40
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BonoMan posted:Ha well luckily we're not first time home owners so we got all the delusional poo poo out of the way last time. So we're aiming for something that needs little to no work. Yeah I went with something move in ready as well, but my friends who have been married a few years tell me the idea of renovations starts to creep in after a while. 
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May 7, 2022 00:40
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Residency Evil posted:Yeah I went with something move in ready as well, but my friends who have been married a few years tell me the idea of renovations starts to creep in after a while. In the few minutes between me posting that and now my wife said “I kind of don’t like that it doesn’t have a garage… maybe we can add a portico?”
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May 7, 2022 01:03
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well getting into the home buying game. recently accepted a new job and it comes with really comprehensive relocation assistance all through a relocation management company. they have specific lenders (no lender fees for me) and real estate agents that they work with. talked to Rocket Mortgage this morning and am (pre?)approved already. gotta see what the other lenders have for me. very excited by the possibility of owning a home but also incredibly terrified of spending so much money. anybody have special insight into the state of the LA market? specifically looking at south of LA like Hawthorne, Gardena, Torrance although most of Torrance is above my price range. any recommendations for nice areas around there for raising a family?
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May 7, 2022 01:10
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Inner Light posted:No shade on the beach house option, but I’ve often wondered, how is your ownership going to compare to airbnbing instead? Think you’ll save over the long haul? I mean, that kind of depends. I work remotely and my wife is a school teacher, so for us we would probably spend 8-10 weeks in the summer and maybe a week at spring break, possibly a few days at winter break also, and then a holiday weekend or two. Like with RVs, for most people it would be way cheaper to pay for hotels than a second home. However, it’s partly a lifestyle thing where you get to have your second home stocked with everything you need except food and can just decide to do a weekend there at lunch on Friday. Part of it is also the value appreciating over the 20 or 30 years that you own the property. Air BnB may help defray some of the costs as well. It won’t turn a profit on an annual cash flow basis. That’s not the point. If you like a place enough to spend part of your year living there, it might be worth the cost to you.
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May 7, 2022 02:05
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Much safer legally to list the house as maybe haunted imo
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May 7, 2022 03:30
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BonoMan posted:First offer officially submitted. Feeling like I'm going to barf. Hang in there. This is a big emotional roller coaster.
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May 7, 2022 05:00
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Thom Yorke raps posted:Looked at a house yesterday where the walls were literally soft, part of the outside wall was sagging outwards, there was a huge crack in the wood façade that definitely let rain in, and the floors were like ski moguls. The same people that just beat me on an offer for a house with no dryer hookup and obvious post painting water damage in multiple rooms, complete with spalling cracks in the plaster over a whole wall. I only offered because I had a month off coming up that would allow me to DIY on it. They kept me waiting a week then came back this week and said they had an offer that would be "hard to beat." Forget that, I was already worried I'd put in too high an offer.
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May 7, 2022 11:00
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