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Boomers houses

Ok, I recently went to a house for sale that was listed by their estate. The owner had passed away. He owned it for 30 years. The house is at market price, it’s been on the market for awhile. They had a slight drop. I decided to check it out. The pictures are absolutely deceiving. The house is all original. Meaning it’s absolutely in desperate need of remodeling. The old ugly hardwood floors are scratched up. The kitchen is funky. The bathrooms maybe more funky. Floorplan is cut up and needs some major updating to make it feel modern. Every single window is old and needs replacing. I’m not saying there’s a buyer out there who might not mind all that, but if a house is not “market ready” why ask market prices? Owner purchased it for under 200k and they want nearly a million. They are pricing it the same as what someone who has kept up their house over the decades would sell it at. Come on agents, get real. It feels so greedy. Especially in this economy and these rates. submitted ...
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Recent posts

Unemployment and forbearance

I got laid off 4 months ago (I'm a software engineer and got laid off by a big tech firm) and decided to call my mortgage company to ask about mortgage assistance. The only option they had available to me is forbearance. In 2022 I had a forbearance and the outcome of that was to get a HUD loan of about $75,000. They have a second lien on the house and it is due in 30 years or when I sell the house. I guess my question is what should I do? I could just YOLO it and take the forbearance, but how will I pay it off? My field is complete garbage right now in terms of hiring. If I get the forbearance and can't pay it back in full, will HUD help me out again even though I already owe them a bunch of money? Should I plan on selling the house soon? How could I get an apartment without income? I live in the Seattle area so the COL is pretty high. I am looking at other forms of employment outside of tech but man it's rough out there all around. submitted by /u/eatrawbee...
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How hard is it to sell rental property if it’s under your name but it’s managed by your dad?

Long story short, mom had dad transfer rental property title to my name maybe 5-6 years ago due to financial circumstances caused by my dad. But dad still managed it and keeps all the financial info to himself. All the money/revenue goes to himself. My mom told me that she wants me to sell it but my dad is of course against it. I align with my mom and want to sell it since it will deeply relieve my mom stress. How difficult would it be to sell it without cashflow information, without keys, and other imperative info etc since my dad would be opposing us all the way. Any tips and suggestions? Thank you. Located in California. submitted by /u/takotatong [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1xn1c0i/how_hard_is_it_to_sell_rental_property_if_its/
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Want to buy a 12 year old Ryan home, but scared of the reputation

I've been looking at houses for a while and finally found one that checked all the boxes, then I found out it was a Ryan home. Anyone that has searched for them on reddit will know the reputation they have, people will tell you to RUN, not walk, away. But this seems to be for new builds. This house is 12 years old and that makes me think this would be more than enough time for the new build issues, if there were any, to be remedied by the previous owners. I plan on going back to the neighborhood and seeing if I can talk to any of the neighbors and get a feel for how happy they are with their homes. My agent has said he lives in a Ryan home and hasn't had any issues. Am I really doomed to have a bad time with this house? submitted by /u/RobertBobbertJr [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1xmwr4w/want_to_buy_a_12_year_old_ryan_home_but_scared_of/
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Worth buying a house that needs a full remodel for 30-50% of the market price? (MD,US)

Long story short, we have been given the opportunity to purchase a house on the cheap. It is structurally sound, but needs a full remodel (kitchen, bathroom added and moved, some walls moved - probably new piping, HVAC, potentially electric, etc.). We could get it for about half, if not 1/3, of the market price of other houses on our block that also needed a similar full remodel (all row homes so very comparable). Houses that have been remodeled are selling for 50-100k more than it would cost us to buy and remodel it, and we would like to stay in it for a while. A couple of questions for seasoned buyers: Are there concerns about purchasing such a fixer-upper as a first-time buyer? How much extra would you budget for unexpected expenses, percentage-wise? Any advice on buying a house without a realtor (but with a real estate attorney)? It feels like a true once-in-a-lifetime opportunity, but as our first house, we are hesitant. submitted by /u/gibbonjiggle [link] ...
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Help with renting out properties in rural south

I’m wondering what people do for rural rental properties in areas that don’t seem to have any property management companies. I have multiple properties in the south nice homes and commercial style buildings that I would like to rent out however I am not in the vicinity and that does not seem to be anyone who deals with property management in the area. submitted by /u/Dystopicfuturerobot [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1xlzsho/help_with_renting_out_properties_in_rural_south/
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How much is a 3-car garage worth? [MN]

Title, but not necessarily asking about a monetary figure. I'm asking because I've been thinking about selling my 2024 new construction home (too expensive) and watching neighbors' 2-garage homes sit on the market for six months, then sell for about what they paid three years ago (these are new construction) OR they sit for a while, then go off market (just one, and it was wildly overpriced, but still). However, the 3-car garage is less common for my type of home (one-level), and I'm wondering how much of a difference this might make in this slow market? I'm aware I can't compete with new-construction interest rates on homes built about 5 miles from me (though my development is finished and sold out), and am worried about that. My realtor is optimistic and keeps saying, "You'll be fine," but of course she would say that. :) Thoughts? submitted by /u/misfitmpls [link] [comments] source https://www.reddit.com/r/RealEstate/c...
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Rental Property Sale & Taxes

When selling a property, you dont add the sale price to your overall income to see if you fall within the 15% or 20% capital gains bracket, correct? My CPA said we fall into the 20% with the sale of the property, but the spouse and I are about 300k to 325k gross this year. The bracket for 20% would require us to make $288k more, but the profit made off the sale is only $170k. (After factoring in purchase price, improvements, depreciation, sale price and closing costs). However if you took the sale price and added it to our income, then yes, it would. But I dont think thats how it works? submitted by /u/ManonFire1213 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1xl3opi/rental_property_sale_taxes/
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Flipped house bought for $1.025m and relisted for $1.3m. Has been on market for 75 days with no offers. What should we offer?

Very interested in this house as it checks all our boxes. $1.3m is the absolute top of our budget, but it literally doesn't need any work (wife and I are expecting, so move in ready is a plus). House has been on market for 75 days with no offers. Was purchased in June, then flipped, and relisted in August. They're having an open house today, but we'd like to submit an offer. What would be a reasonable offer that should get accepted that could save us some money? We have no contingencies besides inspection and appraisal. Planning to put 15% down. submitted by /u/iSniffMyPooper [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1xke84e/flipped_house_bought_for_1025m_and_relisted_for/
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