I'm having a hard time finding a vacation home. Our budget is modest. I can't spend a million for 900 sq feet etc however I can spend 400-500k and take on a project if I must. I've kind of settled on finding land and taking it slow. In the area I'm looking barely anything as sold and most of what is listed has been on the market 150 plus days and there doesn't seem to be any movement on price. Several are going on for over a year starting with insane prices and discounting like 2% every month. The land prices make zero sense. The recent property I looked at has been for sale 200 plus days for 375 but no well, needs a new seawall, small boat house that needs to be torn down as well as a tiny place from 1850 that needs to be torn down. There is probably 75k in property repairs. But houses 2 lots a way completely finished are listed for 600k and also haven't sold and have been listed for also 100 plus days so won't be selling for that. Most of it requires wor...

No one is buying a house now. People losing jobs are going to put their houses on the market. High mortgage rates add fuel. submitted by /u/nian2326076 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1xigodu/microsoft_just_killed_the_housing_market/

Trying to sell my house and currently in escrow. Buyers agent provided a foundation repair cost estimate of roughly 40k, with few sentences of description of issues and no photos. No contact information provided. I looked up the license number and found a roofing company, the guy said he can’t find the estimate in his system but maybe he knows who it is and will get back to me. Meanwhile buyers agent refuses for me to get my own structural engineering inspection and says approve now or buyer is planning to back out. The house is older and the general inspection report noted cracks, exposed rebars, etc but nothing sounds significant. I plan to sign off on the credit but do inspection anyways. What are my recourses if the structural engineering report shows a much lower estimate of repairs? submitted by /u/jyz002 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1xhh9r6/inspection_fraud/

Submitted an offer of 690k on a 729k asking price on a house that has been on the market for 35 days. Told them on Sunday “offer is coming”. Monday morning offer was submitted. Today (Tuesday) an today noon they said they “might be getting another offer”. Okay… would it be reasonable if we pull the offer if we don’t hear by tomorrow (Wednesday) afternoon? Offer didn’t not have an expiration. We like the area and the house but the roof is 25 years old and the septic has some known issues, plus we have 6 more months on our lease so we’re not desperate. It just sound like the buyer is fishing for other offers with ours which I don’t like, we’re also willing to negotiate if they just countered? We offered 5% below asking and if feels a bit bad that they can’t even give us a response besides “we might get another offer”. submitted by /u/monika1927 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1xh6djy/should_we_walk_away_and_take_our_offer_bac...

submitted by /u/shushupbuttercup [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1xgx0z2/duplex_needs_reno_before_selling/

Per the title, we are looking to build new in a growing suburban/rural town about 20 miles outside of a large metropolitan area. There's a particular subdivision that is building houses mostly in the $350-$450k range, however they have some larger sqft models that are in the $500-$550k range. My wife and I love one of these bigger models and so we're left wondering on the old adage about avoiding the most expensive house in the area. The question is, what's the area? Is it the subdivision/HOA, is it a 5 mile radius or even the zip code where we would want to be average? Additional details: They've already sold 5-10 homes (out of 100) at about $550k. Some already up, others are in the process of being built. There's also a second phase that's not started with an additional 150 lots. ~2 miles down the road there's another builder whose plans start at $550 and go into the $800k range. Finally within a 5 mile radius, there's everything under the sun. S...

we bought in 2019 at 3.1% so refinancing is not happening lol. house is worth about $520k and we owe $260k. contractor wants paid in 3 stages over about 4 months. trying to figure out if a HELOC or a fixed home equity loan makes more sense for something like this submitted by /u/Different_Pain5781 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1xgtrm5/heloc_vs_home_equity_loan_for_a_45k_kitchen/

I'm not sure if anyone has any advice or if this is even the right sub for this, but here it goes... We own just under 4 acres. The house & property are mortgaged. The house is very old (built in 1900) & needs a lot of renovation (electrical, plumbing, additional space). The house sits on 3/4 to 1 acre in the front of the property. There is a huge field behind the house that is wooded at the edges. We talked about renovation, building onto the house & putting an addition on it to add an extra bedroom & an office. Possibly even building up, though I hesitate to do that because we are 44 & 45 & don't want to deal with stairs as we age. My other thought was to put a modular or build a new home in the field behind the house, keeping our current house to live in while the construction was taking place. However, I don't have any idea how that would work with our mortgage company or even where to start. Has anyone done anything similar? My husband thinks i...

https://www.zillow.com/homedetails/440-Parkside-Way-Lititz-PA-17543/457231272_zpid/ We are considering purchasing the last remaining new construction home in a development in Pennsylvania. It's listed at approximately $807K and has been sitting unsold for over a year. The home was originally built for another buyer who backed out. It was overpriced for much of its time on the market and has undergone large price reductions recently. We toured it and genuinely love the house and neighborhood, but I have two concerns. 1. The house backs directly up to an active public park. The backyard borders a popular public park with athletic fields, walking paths, and rentable pavilions. We actually use this park frequently with our two young kids, and having direct access is appealing. There are lots of families in the neighborhood, and we have friends nearby. However, there's a pavilion relatively close to the property. Apparently, neighbors complained about noise from gatherings, an...