I am moving into a rental in Melbourne and I noticed that the tack strips poke through the carpet everywhere. This is a newish build so it looks like it was just done cheaply. This is a pretty big hazard as, again, it’s everywhere…walls, transitions to bathrooms, stair transitions, closets. I already cut my foot. We havnt moved all our stuff in as we have a bit of crossover with our current rental. I emailed the real estate agent. Can I use this as a reason for not meeting minimum standards and end the lease? According to tenants Victoria, if I havnt actually slept in the apartment, it not meeting minimum standards is grounds to cancel the lease with no penalty. TLDR: Carpet tack strips poke through everywhere in Melbourne rental. Is this grounds to end the lease before move in due to not meeting Minimum Standards? submitted by /u/anoyn12244271651 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1ryt5k7/rental_minimum_standards/

I own my home in Washington state along the I-5 corridor. The area I live in is fairly urban and a couple of years ago the city rezoned it to make it an economic development area. I am within walking distance of where the sounder train runs and where the light rail will likely be run. Last year a developer bought up the next block over and spent in excess of 30 million building a nice apartment and townhouse complex. I have always gotten some calls off and on about buying my house but in the last 6 months I think I average at least 2 a week between texts and letters from people looking to buy the place. I am not opposed to selling but my requirement is that on the back end I must make enough that I can buy another place and not end up with a higher mortgage payment. This is made more complicated by the raise in housing prices in the past 5 years and the fact that mortgage rates are more than double the rate I have right now. So my questions, Does being rezoned like I outlined make...

I bought my first duplex 3 years ago, and currently it cash flows $650 monthly or 8% CoC, which I am happy with. This is a B+ neighborhood so good tenants, town, and you can likely expect good appreciation. Anyway, there might be an opportunity to buy the duplex right next to me, this one side by side too, for $485k. Was built around the 80s and is in very good shape, not much renovation is needed. Both units are currently rented for $2,000 with long-term tenants but market can go around $2,200-2,300 per unit. Taxes are around $7k annually and insurance might be around $1,700 annually. I have around $100k saved and if I put around $50k down, cash on cash return comes pretty low, sub 4-5%, but I’m tempted because it’s good neighborhood and good opportunity to have both investments right next to each other. Thoughts ? submitted by /u/no-look-passing [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1ryarzz/should_i_make_this_investment/

Looking into selling our waterfront home. Realtor comps are for local homes not on the water. Does not seem that the waterfront (saltwater river neighbors all behind us) is taken into consideration very much.. edge of Cape Cod, ocean access…sunset views.. I know we all overvalue our homes, but it just seems like the values don’t take into account the waterfront. Any advice/ insights? Thanks in advance.. submitted by /u/diggin4Copper [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1ry27g5/waterfront_home_no_local_comps/

We have been looking as houses with our buyers agent the last couple months and they have been great. A top local agent and have been very knowledgeable and helpful. While looking at a house we casually mentioned at we would love it if a home popped up in this specific community that we love. They mentioned that they actually had a listing coming to market in the next couple weeks in that area and after describing the house and driving by it, we strongly think this could be our house. We are knowledgeable buyers and very aware of current market dynamics and comps so I am not so worried that they cannot negotiate much for me as we would offer a fair price and if they don't accept, move on. If we get our own home inspector, are there any major things to watch out for? In this situation, is there a bad idea or can it be navigated well. Im sure if we asked for another agent they would support that but at the same time, they have been fantastic and don't feel the urge to do so. T...

As someone that's rented my entire adult life, I feel ill prepared for some decisions and would welcome advice or thoughts from those with experience please. My mom passed last April and we've been clearing her house out and debating moving there but think we talked ourselves out of keeping it. The home is in bad shape inside as mom was a level 4 hoarder and allowed no one to do any work on her house for 25years(!!) so there are a lot of major, expensive things wrong. It is 1100sqft 3/2/1 The bad: ( no particular order ) VHCOL (beach side Daytona Beach) Huge mold and cat stains in the living room, likely ruined or damaged wood flooring under carpet. 100% original 1962 house, with zero upgrades. The kitchen and back rooms have asbestos flooring. Kitchen is wrecked with 1962 press board cabinets disintegrating badly. Needs a total kitchen replaced. Roof had a large leak while she was in hospice and it stained the ceiling. A smaller leak also hit garage ceiling. Repaired ...

Feeling kind of stupid. I bought a home last year for 595k. In excellent shape it is worth 620-640k now. I guess this is a vent or a warning to people. Note I'm in a sellers market, in a neighborhood where most homes are pretty small and only a few homes are up for sale for remotely sane prices at a time and anything priced under 540k disappears in days and people pay 475-500k for (fairly large) townhomes. It did have very good bones, a new HVAC and water heater, 3 year old roof, stunning hardwood under the old carpet. Plumbing, electrical, appliances were for the most part in really good shape. But it was aesthetically hideous and desperately needed repainting and some floor help, needed a new kitchen, and needed about 10k in window dressing and about 10 windows replaced. By the time I'm going to be done, I will end up spending around 100k updating this house 40k kitchen, 10k on windows, 10k on the entire home painting, floor refinishing and carpeting a bunch of bedrooms,...

Hello, As the title suggests, I'm looking for some advice on selling a parcel of land in Central NJ. The lot is 2.5+ acres. Residential zoning. Has utilities. The house itself, is damaged beyond repair. NO environmental damage etc. AFAIK. I'm on the west coast and I don't work in real-estate. How can I go about selling it? The current RE agent is dragging his feet - and I'm fed up. No agreement signed yet. I'm looking for a quick sale ideally ( NOT a distress sale, though - so definitely not interested in lowball offers etc.). Any advice welcome. Thanks! submitted by /u/Only_Camera [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1rwwrqa/how_to_sell_25_acre_central_nj_residential_lot/

Hopefully this helps coming from someone actively buying right now. If I see a house with single/multiple small price cuts in the $5k-$15k range, I usually just move on. It feels like the seller is chasing the market instead of pricing it right upfront. From experience, that usually means way more hassle during the buying process. I know people will say it’s market dependent, and that’s fair. But I’m starting to see this in major markets too. If you’re wondering why your house isn’t getting traction, this is probably a big reason. submitted by /u/myturn19 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1rwhtb1/from_an_active_buyer_what_small_price_drops/