I love the Bay Area but the housing market is ridiculous here. Where else can I get good weather, beautiful nature, and progressive politics but doesn’t cost as much? submitted by /u/preciouspony [link] [comments] source https://www.reddit.com/r/RealEstate/comments/sh3qso/bay_area_refugee_here_where_to_buy/

I’m in the process of getting my pre-approval and my lender said that I will be approved for a maximum of $320k. My annual gross income is about $43k and I was expecting to get approved for a lot less than that. Her reasoning is that there are not a lot of houses available for less than that amount in the city. But if I borrowed that amount, wouldn’t I be house poor? I mean I don’t even think I could afford the monthly payments because my monthly net income is only like $2400. Wouldn’t that be super risky for the lender? I don’t plan on borrowing that amount or anything close but I’m just curious why a lender would do something risky. Edit: I see a lot of people trying to figure out or fix my situation. I’m not asking for help, I know what I can afford and I have already set up my budget. I don’t plan on using that amount at all but I’m just GENERALLY curious as to why lenders approve people for more money than they can afford. submitted by /u/YouAreNotHelpful666 [link] [co...

Perhaps this type of post isn't allowed here but this is the first place I thought to ask it. Looking at the property records on my city's public GIS for a bunch of super nice homes, I notice that a number of them are owned by LLCs named after the address in question (ex 123 Jones Ave LLC). Why is this? I pretty certain these aren't rentals, but can anyone tell me the incentives to form an LLC for just owning your home? Is this just investing by someone with multiple or many properties or is this some clever rich-people-homeownering secret I've not been told about? Thanks submitted by /u/7_of-9 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/sh0mtt/novice_question_reasons_for_owning_your_house_as/

I asked a question a few days ago regarding a lease I signed to rent a house. I agonized over the decision for quite a while but ultimately signed it, and since have regretted my decision. Several people suggested that since I signed it, I was bound by the terms of the lease, including forfeiture of the deposit and being on the hook for rent for the whole period or until a new renter is found. That language is in the lease. However, the Lease Start Date is not until 2/15. So my question is whether I am bound by the lease before then, whether I can notify the landlord that I am backing out before then, with no repercussions. Does anybody know? submitted by /u/IcedPgh [link] [comments] source https://www.reddit.com/r/RealEstate/comments/sgb0uc/can_i_back_out_of_a_lease_if_the_lease_start_date/

I always look at the long term effects of accepting the highest offer. If the seller accepts for example 300k for a listed price of 225k, will it not impact him negatively as well when he goes to purchase his home ? The market will keep going up and making it harder for the seller once they become a buyer right? submitted by /u/Ghostmouse88 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/sgbnym/sellers_accepting_the_highest_bid_are_shooting/

Hey Reddit, I may be getting a new job in a new city that is a little over an hour away which would be great, but also has many complications. Here are some facts and some questions for others who have been in this position. We own our current house We have 2 dogs and 3 cats New job will be partially remote, but some onsite work New job is roughly 1 hour 20 minutes away and flexible, meaning I can plan to drive up once/twice a week for the day until we move. We probably can't afford to buy a new house until our current house sells Income is 76k+38k=144k joint currently, new job will be 78k and my wife will be able to get 38k again at a new job with no problem based on her field. We know financially this is not the best idea, if I get the job we will be taking it for other reasons (mental health, current job stress, location, time off, ect...) Midwest, plan on selling current house for 230k, still owing 169k, 20k estimating in closing costs/random repairs (house is in very ...

What would you do with 200k cash on hand? I am 3x and work in construction industry for few years. I am also a new and "inactive" real estate agent. Recently I have this money and I want to make use of it efficiently to buildup equity or to generate cash flow. I am thinking about three options, I am pretty new in investment and haven't done any before. One is to flip houses, which I think theriotically can accumulate real estate experience and wealth faster. But I live in Guam, a remote island with limited house inventory. During Covid real estate price skyrockets as well as labor and construction material. I doubt if I can compete with other experienced investors as they have more cash on hand to close the deal faster than me. I am thinking to take loan to leavage my return on this. I do know some reliable house contractors. The other option I have in mind is to use the money as down payment, and take mortgage to buy one or two rental properties and hold it for a re...

submitted by /u/Any-Sun9309 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/sg82h7/ive_shown_videos_of_real_estate_mogul_ben_mallah/

We are in Alabama and selling our house to opendoor. We signed the contract and now got a letter informing that we have an option for closing protection. And we need to pay $50 if we agree to avail it. It is optional. Is this necessary for a seller? As I understand it might be necessary for the buyer but not the seller. submitted by /u/boolda [link] [comments] source https://www.reddit.com/r/RealEstate/comments/sg6tch/is_closing_protection_necessary_for_a_seller_in_al/

The housing shortage is a complex interchange of issues. Unable to do much about the Federal Reserve fiscal policy. However, I tried to summarize other specific steps that can be taken to help address housing scarcity in the both the near and long term. I intend to send some version of these to my various government representatives. Corporate Money: No limits on commercial real estate or new residential construction. No limit on buying existing residential apartments. All other residential real estate limited to only being able to buy after 1 year unsold. Penalties for any empty residence not on market set to same standard as vacation homes. Foreign Investor: Banned from everything except commercial real estate or new residential construction. Penalties for any empty residence not on market set to same standard as vacation homes. Private Money Non Primary Residence: No limits commercial real estate or new residential construction. No limit on buying existing residential apartment b...

Hi everyone, I live in Florida and have been in the market to buy a condo for some time. Recently found one I really like and actually put an offer in on Thursday morning. Offered them all of the money they were looking for since it's the best in terms of value that I've seen. It was for a conventional loan by the way with around 15% down. On the confidential information page, the sellers agent lists "I do not believe this would approve for FHA Financing due to windows leaking, new condo questionnaire standards for conventional will require 25% down." I asked my agent what this is and should I even offer if I can't do 25%. He basically brushed it off and said my credit is good enough that it doesn't matter and a bank would basically beg me to take money from them. With that said, I put in the offer and waited. Thursday night my agent texts me saying that him and the lender he works with are trying to figure out what this 25% thing means since it is "ne...

Hello all- I'm in a medium COL area where the housing market has cooled SOME but the inventory is still relatively low. During my first weekend looking, I found 2 houses I liked. The first one was clearly listed about 80k above what it would appraise at (and is still on the market weeks later) and the other I felt was somewhat close. I bid on the #2 at asking with an appraisal and inspection contingency. So yeah I went the old school traditional way, and I got the house. ..and here's where it gets funky (at least for me). The house appraisal came back $27K below offer (house is in the 350-400k range). My Realtor expected that too happen to so I wasn't too surprised. The owners are asking for the appraisal to be reviewed/reconsidered because of some errors in how they assessed the comps. Specifically an error where one of the comps is recorded as one bath being a 1/2 when its a full and this (according to my Realtor) is indeed an error but would only equal 3-4K of an adj...

Hi, everyone. My grandma is in need of money for her care. My family is considering selling her house for that money, but someone mentioned that that would mean all the siblings in the trust would have to pay taxes. They said that there might be a way to transfer the title to a family member and then my grandma can get paid from the trust. I am heartbroken at the thought of her house being sold; I would like to find a way to rebuild it, add an ADU, and rent the properties to bring in money for her and start a home design business. I believe this could help everyone in the family, if done right. Does anyone know more details about this kind of property transfer/trust situation? No one seems to know more, and she needs money for care as soon as possible. Is this a situation that sounds familiar to anyone? I'm not sure how to research this or what it's called. I'd be grateful for any help or advice! Thank you! submitted by /u/sPeCtRaLpOtIoN [link] [comments] sourc...

Looking to buy a property under contract currently. The property is contingent on the other party selling their house. Listing agent stated that they “don’t NEED to sell it, but want to first.” They 48 hours to lift contingency after I make my official offer. They are not contracted for the full listing price. I want this property and am willing to offer anything up to full price. Wondering if any of you all know anything that may better my chances of scoring this property. Thanks all. submitted by /u/ericlightning333 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/sff8vy/1st_right_of_refusal/

Hello, I am looking to buy a house in july from family. I am wondering if we might run into some issues with work history from my fiance. I have been at my current job, salary for 2 years, but she was working part time after college graduation in 2019, then was laid off because of covid for 3 months in march 2020. She has been working part time since then at 2 seperate places and has been promoted to full time hourly as of 6 months ago and left the other part time job. All of this work is related to what she went to college for. Today we make about 95k combined a year and our expected DTI with loan and other debts would be about 37% and credit scores above 700. Do you think this would cause any issues for us getting approved for a mortgage? I know this is kind of specific, but any info would be greatly appreciated! submitted by /u/huge_jazz [link] [comments] source https://www.reddit.com/r/RealEstate/comments/sfe2qr/work_history_questions/

I have just finished my course and final, and hoping to begin my attempts at the state exam as soon as my fingerprints are done. I'm hoping to become a new agent in the Tampa area. ​ I am very nervous about my career in real estate because, although I love the field, I don't feel like the course has prepared me AT ALL. I know that I will need to learn SO much more in order to become a good agent, and it's important to me that I genuinely become a valuable asset to anyone who decides to take a chance on doing business with me as a new agent. ​ So how the heck do I decide which brokerage is right? They all say the same thing "we're the best for new agents!" and I can research their terms, but frankly, I feel woefully unprepared in terms of choosing what brokerage to start with. Furthermore, I have no clue how to find a good mentor, and I feel like that will be the most important aspect of my success since the licensing course has essentially taught me diddl...

I was perusing some websites to look for a small cheap plot of land to buy as a joke because I wanted to see what it would be like to do so. I came across someone selling a whole commercial office site for less than $30 bucks. It's pretty much a small building with offices that people would rent out. (though because it's a land website I'm not sure if it's the building they're selling or if it's just the land that the building is on that's for sale...) I'm completely inexperienced with real estate and buying land so I don't know if there's a catch or if this is a scam or not. Assuming the owner is serious about the price ideally I would like to buy it because it sounds sounds fun to own something like that. But maybe there's some kind of catch where I am saddled with some kind of financial obligation I hadn't considered. submitted by /u/dgodfrey95 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/sfd3yu...

I currently have a flat with a mortgage as a first time buyer. However, I am looking to buy another flat and rent out my existing flat. My question is what's the best way to do it? Would I need to file a new mortgage application for my flat in order to change to mortgage type? If so, then won’t it hurt my chances of success? I mean that applying for two new mortgages might seem like a stretch. How do you usually people go about this? submitted by /u/stantheman35 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/seluwe/changing_my_mortgage_from_a_first_time_buyer_to_a/

Curious for people who have bought a home recently in the past year. What percentage of your take home is going towards your house? submitted by /u/Ry619 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/sejuoy/what_percentage_of_your_income_goes_towards/

submitted by /u/pencilsleeper [link] [comments] source https://www.reddit.com/r/RealEstate/comments/sej5ls/impound_accounts_or_pay_property_taxes_directly/

My husband I are about to put in an offer on a house and the current owners smoke inside the home. Should we offer less? submitted by /u/Necessary_Opposite20 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/seisfk/seller_smokes_in_the_home/

Was pre approved for loan for “professionals” for a 30 year fixed loans at 3.75%. I have to put 5% down and I don’t have to pay for pmi. Is there going to be a better deal than this or nah? submitted by /u/tampow [link] [comments] source https://www.reddit.com/r/RealEstate/comments/seii3f/professional_loan_question/

My partner and I are purchasing a condo in a 4 story wood framed building. Its newish and the inspection by a licensed inspector showed no structural or water proofing problems. We have always lived in concrete and steel buildings and are unfamiliar with problems that may recur in wood framed buildings. Are there any major issues we need to watch out for? submitted by /u/mean_designer1234 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/se13s3/wood_frame_versus_concrete_and_steel/

Found myself a house that's a little bit of a project, but it has a lot of potential. It was lstied for 265 but I offered 272 the 2nd day it was on the market. There's an open house for it today but I already saw it with my realtor. She said it will probably get bid into the low 3's but I added to my offer saying I could close within 30 days and that I would forgo the home inspection. My dad is a home inspector and my friend works construction, both of them looked at the house with me and confirmed it needs work but there's nothing major so that's the only reason I feel comfortable forgoing the inspection. Anyway, i'm excited and nervous, I don't expect the offer to be accepted but if it is then i'm going to be a homeowner and I couldn't be more excited! The market is crazy right now and I just feel happy seeing that a house that I actually like has fallen into my price range, and even if I get bid out I don't care it's been a great exper...

My fiancé and I found a coop unit on Zillow that we liked. We hired an agent who then began communication with the coop unit’s listing agent, about sales price. After minor negotiation, we got word (from the seller’s agent) that they accepted our asking price. However, since it’s a cooperative and not a condo, the coop’s rule for minimum sale price for units within the cooperative was $5,000 higher than what was accepted. Our realtor informed us that this happens all the time and we’d purchase the unit at the coop’s minimum sales price and the sellers would reimburse us the difference (without the coop finding out). The seller’s realtor told our realtor it would not be a problem. I asked about a contract being written up but every time, I was told the lawyers would handle it. Being first time buyers, we foolishly went on with the buying process (this was dumb, I know). Fast forward to two weeks before closing, we find out that the seller’s realtor now doesn’t want to be involved with...

Hi, I was wondering how would a Non-QM lender calculate how much house I can afford? I have two LLCs one from 2018, second from 2020. How much would the businesses have to make to afford a 1 million dollar home? I know I have to put at least 20% down. Thanks! submitted by /u/LES_NYC [link] [comments] source https://www.reddit.com/r/RealEstate/comments/sdzngn/nonqm_loans_calculation/

Warning: probably too much FUD. With all the news about interest rates going up in the coming months, I've started worrying about what that could mean for our current house hunt. In our market, we're looking for houses around 550-600k. But what if we put 20% down on a house, and then home prices drop by 20% after close? I wouldn't exactly be underwater, but it would be as if my down payment disappeared! It got me wondering if I could somehow avoid the future price drops by finding houses that are already low price due to out of date interiors or something. Like if I buy a <500k home I'd have more spare money for renovations and maybe any price fluctuations post-interest hike won't hurt as bad? I suppose the hole in that line of thinking would be "just because the house is old doesn't mean it didn't also ride the wave of home prices", so maybe we would signing up for a remodel home for without even dodging my original issue? Tell me I'm d...

I'll be looking to buy a home in the future. Me and my partner's combined salary is (well, technically will be) ~$200k. I'm about to graduate college this semester and I've gotten an offer with the previously mentioned salary. I've never used or owned a credit card, never taken a loan (student or otherwise), and I've never had a car payment. So it's safe to say my credit score won't be great... Will this hurt my chances of getting a mortgage for my first house? submitted by /u/ar243 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/sdvtoh/150k_salary_but_i_dont_even_have_a_credit_score/

Before I write my angry letter/review to my agent, I'm just checking that the realtors of reddit think I have a right to be mad about this? I've been paying thousands of dollars too much in property taxes because a Primary Residence Exception form (Michigan) wasn't filed. When I bought a house with a renter in it, the realtor knew that I planned to move in at the end of the renter's lease in seven months, which we did. I'm angry that the realtor never informed me that there's this process I should do when it becomes my principal residence to lower my property taxes. Apparently the agent would normally get the forms together for me if it was my primary residence to begin with. I don't know how else I was supposed to know this if not for my agent. I only found out now from small talking real estate with someone else. I'm not an investor even though I technically was for seven months. Do I send the angry email I've already written to my agent or do I...

I know that ideally the answer should be the same. But is it? And if not how and why? submitted by /u/lildaemon [link] [comments] source https://www.reddit.com/r/RealEstate/comments/sdtoai/how_would_a_real_estate_agent_negotiate_for_a/

Despite me asking for the standardized loan estimate, each lender I have gotten a pre-approval from has sent their loan estimate in a proprietary formatting and not in a government-mandated formatting that I keep seeing online (the one labeled Ficus Bank). Am I mistaken in thinking that all mortgage lenders are required to send loan estimates with the exact same formatting but with the specific details of their offered loan? If so, how can I get them to send it? submitted by /u/Jablesrolland08 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/sd5wzy/lenders_sending_me_completely_different/

I've done my diligence and interviewed a few realtors recommended by friends and family. Interestingly, one of them has no reviews online despite having a profile on Zillow and similar websites and an active social media presence. Their Zillow profile does show a number of recently sold listings, representing the buyer. This person also has over 20 years of experience. But not one. Single. Review. Another realtor in our pool had 30+ positive reviews. So how much do I weigh the reviews against other considerations (like the person recommendation from a friend, or the vibe we got in our interview?) submitted by /u/AllTheGreenThingies [link] [comments] source https://www.reddit.com/r/RealEstate/comments/sd5s6l/does_lack_of_online_reviews_tell_you_anything/

Always like to ask, because every market is different. How many homes did you sell in 2021 and what was the volume? Obviously this is for my agents in here. I did 31 units at 7.2 million in total volume. submitted by /u/stankshoal69 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/sd4k6z/units_sold/

Hi chaps, Welcome to my post! Thanks for dropping by. Not sure if there's a subreddit for Europe RE. Here goes.. Which European city that is affordable and has good future lift in terms of property prices? Cheers. submitted by /u/Gegobytetech [link] [comments] source https://www.reddit.com/r/RealEstate/comments/sd3a3h/european_property/

I am a mortgage broker and am trying to increase my referral partners in order to allow both parties to profit simultaneously. For every borrower I send your way, then you send me a buyer you are talking to and recommend me as a loan originator with experiences. We can continue this indefinitely and make lots of money. I have 3 years experience and average about $1,000,000 closed loans in a month. Please let me know how I (the lender)would go about establishing a referral relationship with a realtor in order to ascertain business. Thank you! submitted by /u/Floppyfishface [link] [comments] source https://www.reddit.com/r/RealEstate/comments/sd2fpt/looking_for_referral_realtors_in_the_san/

Ran across a house today with a for sale sign and no corresponding online listing. According to records it was last sold 30 years ago (I also have been watching every house in the county for 2 months and have never seen it listed). The seller's agent is a name I'm familiar with, so their listings definitely go to the MLS aggregators. ​ Assuming I just happened to stumble across it before publicly showing up online, is there any way to take advantage of this if I like the property and want to avoid the overbidding nonsense? Would it be advisable to have my agent reach out to the seller's agent directly? How long does it usually take for a house to be picked up by MLS aggregators after a physical for sale sign is planted? submitted by /u/Mad_Z [link] [comments] source https://www.reddit.com/r/RealEstate/comments/sd21hb/for_sale_sign_no_online_listing/

A little background information…We sold our home in September of last year. We just received a Property Tax bill for the entire year and it still lists us as the owner. The amount we owed in taxes was prorated by title company in our closing sheet at closing and listed as “adjustments unpaid by seller”. Will this be an easy fix or will it require jumping through a lot of hoops? And also, who should I call first to correct this issue: the realtor, title company or tax collector? submitted by /u/4525grl [link] [comments] source https://www.reddit.com/r/RealEstate/comments/sd134c/wrong_property_tax_bill/

Months ago, Meet Kevin (youtuber) created a video about real estate. Mainly, it had to deal with buying a house in a bill that MAY have been in the infrastructure bill (I can't remember if it was supposed to be in the infrastructure or not; please correct if you remember). Anyway, in the bill, Biden was going to help out new home owners with $15k that you wouldn't have to pay back if you are a 1st time home owner. There was another part stating you can get an additional $25k if your parents have never owned a home either. I have not heard anything about it since and would like to find information on how to apply IF people are even eligible for this atm. Does anybody have any information on this? Thank you in advance for taking the time to help! submitted by /u/Far_Two_564 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/scfbzh/potential_new_home_owner_help_monetary_question/

I started in August as an ISA at my local Keller Williams office for the top team. I love the people, but I’m tired of taking shit and being expected to make gold out of it. I’m expected to cold call terrible leads and book appointments while my boss says that he takes a loss on me every week. It’s frustrating working for more than 15hrs per week yet only getting paid for 15. I’m getting my license shortly and may just take a break from RE until I do. When I do get my license I intend to go to a different brokerage. I just needed a good rant. submitted by /u/EasternSatisfaction4 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/scdg3j/keller_williams_rant/

Looking to purchase my first investment property to air bnb out. I've read a lot, watched a lot of videos, talked to a lot of people but still feeling idk wtf I'm doing. I want to learn from others mistakes who are successful now. Thinking of purchasing a coaching program for 5k from someone who has many rental properties and puts out a lot of amazing content on YouTube. If you could do it over would you do something like this? I'm thinking it'll pay for itself in lack of mistakes and wasted money... submitted by /u/beaconoflightrn [link] [comments] source https://www.reddit.com/r/RealEstate/comments/scd32o/if_you_could_do_it_over/

My wife and I are looking to move from Cape Cod to the South Shore to shorten her commute. We're looking for a 3 bed / 2 bath, preferably with at least 0.25 acres. So far, we've put in three offers and lost out on all three houses. Offered $10k over asking with an escalation clause to $20k over asking (with a home sale contingency, appraisal contingency, and inspection contingency). The successful offer offered less $ but with no contingencies Offered asking price with same contingencies as above. Successful buyer came in with a cash offer ~$30k over asking. Offered $25k over asking (with a home sale contingency and info only inspection) and was told we were the fifth highest offer and could counter if we would drop the home sale contingency. We need to sell our house (3 bed / 2 bath in a neighborhood of similar homes on Cape Cod) in order to have the cash for a down payment. Three similar homes in the neighborhood sold recently in less than a week. Putting down ea...

I am a citizen of another country. I want to come to the USA and do real estate business. I have money for down payment. Will the bank give me a mortgage for the rest? and more than once? submitted by /u/DARKMHR21 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/sc9b9r/foreign_mortgage_loan/

For example - if I just purchased a home, can my real estate agent friend (who had no involvement in the transaction) pull up details regarding the purchase that is not part of the public record (i.e. down payment amount/source, mortgage amount/details, etc)? submitted by /u/BRONJAME [link] [comments] source https://www.reddit.com/r/RealEstate/comments/sc8xor/can_agents_see_nonpublic_purchase_details_of/

I have my mortgage with PNC bank. The bank just told me that they cannot transfer the title of the property to llc. Any idea how to handle this? submitted by /u/friend_4_life [link] [comments] source https://www.reddit.com/r/RealEstate/comments/sbp5qz/transferring_my_rental_property_to_a_llc/

Will there be a real influx of homes come March/April? i'm trying to find an acreage property with something 1800 square feet or more and preferably 10+ acres... right now it just seems like its slim pickens.. Given the strength of the sellers market right now wasn't sure if i should compromise right now or wait another 6 weeks and hope there is an influx of homes? ​ any advice would be appreciated submitted by /u/CyclonusDecept [link] [comments] source https://www.reddit.com/r/RealEstate/comments/sboy1a/spring_market_2022/

Hello, I just put an offer for a very well maintained 3bds/2ba house that has foundation/settling issues. Should I walk away from it? There are several 16" long fractures coming from the corners of door frames. The outside of the house is brick, and there is a major separation in the brick of about 1/4" in the top section of the wall, that converges to about 1/16" towards the bottom of the wall. The garage floor looks like spider web, and there are several fractures noticeable on the slab as you walk around the perimeter of the house. How expensive is it usually to fix these types of issues with mudjacking or foam? The house is 1800sqft. Thanks! submitted by /u/Creepy_Sell_6871 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/sbn0ds/foundationsettling_issues/

I think it’s unlikely, but curious in what scenario you could see it happening. submitted by /u/IuseRedditforThings [link] [comments] source https://www.reddit.com/r/RealEstate/comments/sbln2c/is_it_possible_for_the_market_to_crash_within_the/

Hello everyone. Thanks for anyone who helps me out here. My wife and I currently want to move out of our house and purchase another home. We both have good stable incomes both at the same job now for 8 years. I was recently offered a new position with a pay increase with a new company. Would this hurt our chances of getting a new mortgage loan if I would accept this offer? submitted by /u/rivdex [link] [comments] source https://www.reddit.com/r/RealEstate/comments/sbkt1k/starting_new_job_getting_a_mortgage/

? submitted by /u/chess415 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/sbh44g/how_do_you_get_equitysecured_loans_right_after/

We’ve put an offer in on an absolute dream property that is two adjacent lots. There was a bidding war, but we should find out today. The higher lot with AMAZING views has an older, severely neglected house. It has a stone pathway that leads down to the lower lot that flattens out again. Due to the condition of the house, it’s definitely a cash offer sort of situation. Our plan, should they accept our offer, would be to build a minimally expensive ‘guest house’ on the lower lot. We’d want it to look acceptable from the outside but thinking bare bones finishing on the inside for now. When that was done, we’d move into the property and start renting out our current place. Then we could take our time and decide if the old house can be rehabbed or would need to be torn plan for a new construction. It would give us a lot of flexibility for timeframe and get to enjoy the property sooner. Also, since it’s two lots we could always rent out the ‘guest house’ later down the road or even sell...

We are looking at putting an offer on our first home and it has a pool! Having a pool would be wonderful but we are nervous about the costs associated with it. How on earth do we get a pool inspection done in January in northern VA when it's 19 degrees outside? submitted by /u/mycatsnameistaco [link] [comments] source https://www.reddit.com/r/RealEstate/comments/sauyao/pool_inspection_in_winter/

https://www.zillow.com/homedetails/1005-Dewitt-Dr-Orlando-FL-32805/46209674_zpid/ ​ Is this property bang for the buck in Orlado Florida? What are some of the pros and cons of buyng a rental property in orlando florida. I have university of central florida and disney in mind as pros. submitted by /u/Particular_Egg_5791 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/sasxrb/is_this_property_bang_for_the_buck_in_orlado/

Husband got a large promotion at his job after we were pre approved for a mortgage 2 weeks ago. Our house already sold so now we’re in the thick of trying to buy. Since we have more income, we’re comfortable spending a little more since what we can possibly afford puts us in a VERY good school district. Can we get pre approved for a higher amount now? When we did our first pre approval, we told the bank how much we were comfortable spending and our income so that’s how we got the pre approval amount. And before you come after me, yes we would like to put more towards a better neighborhood in a better house instead of putting into savings/investing. No debt, savings is healthy and putting into our retirement. submitted by /u/biggiesmalltits [link] [comments] source https://www.reddit.com/r/RealEstate/comments/saseth/got_a_promotion_after_being_pre_approved/

So me and my wife was finally able to get a bid in and go under contract, just slight cosmetic repairs needed after inspection, but are an easy fix. The house we got was at 205k asking we put our bid in for 210k escalation clause to 225k. Technically we didn't get that contract but got called 4hours later because the winning bid backed out putting us under contract for 217k which was great had the inspection done easy enough. Then we had the appraisal which seemed like it went pretty fast because we paid the other day had the appraisal the next day, and he set the appraisal at the sellers asking price, which might make or break this deal, and going over the appraisal, he has the house down as a 2 bedroom 2 bathroom house. When it's a 4 bedroom 3 bathroom house. Not sure on how appraisals work but 2 bedrooms are down stairs with escape windows all bathrooms are full baths one of them in the basement. And only compared it to 3 other houses in the area one up to 1 mile away fo...

I’m in the market to buy and found out about the Homepath program last week. When I search my area via the Homepath site I see non-Homepath properties listed that are not listed on Zillow/Redfin. I asked my realtor to search for them using their MLS numbers and all came up “pending” or otherwise unavailable. Is the Homepath site just out of date and unreliable or am I missing something? Thanks much for any info/advice. submitted by /u/ryan613 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/saohtk/homeopath_website_vs_redfinzillow/

Are people moving there still? There was a huge price jump and increase in demand during the pandemic, however, we are moving there in the spring/summer. Anyone from the area have predictions on what the market is going to look like in the near future. With a budget around $1m what kind of offers do we need to put in to get the house? submitted by /u/GroceryPutrid9619 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/sa4y1h/boca_raton_fl/

The list price isn’t always a good indicator of the FMV. You can look at the comps a realtor pulls up, but aren’t always comparable. I’d say going just by the average sqft of what sold and applying it to a home you like, isn’t the best. Sometimes these comps could have much nicer upgrades and materials, be in more desirable location, be in better condition. I assume this market may be a bit crazy and these conditions may not apply, but in a regular market, how do you go about seeing if the list price is fair or is too much? submitted by /u/Successful_Leg_707 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/sa4ilc/how_do_you_determine_what_is_a_good_bid_price_for/

I’m in a place in life where I likely need to to take 6 months off and study for a certain exam. Looking to live off $500 rent a month. I can go anywhere in the US. The only thing I require really is outdoor space and decent weather. Will be from May-November 2022. Any states/cities/areas that are in nice outdoor areas known to have cheap rent right now? Thank you in advance :) submitted by /u/RaenShadow00 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/sa339x/what_citystate_has_the_cheapest_rent/

submitted by /u/turtlesmasha420 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/sa2pdh/what_are_some_things_i_should_learn_before_buying/

I always favorite houses in our area for sale that I like on Redfin, since we want to buy one this year. But every so often there are a couple houses in my favorites I definitely didn’t add. Especially since they’re not even currently on the market, sometimes they last sold like 30 years ago! Does anybody else experience this? And why is this happening? submitted by /u/Street_Blacksmith891 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/sa0141/redfin_favorites_i_didnt_add/

Hi everyone! My partner and I love the ocean but we live in TX. We have been looking into selling our condo to buy an investment property/vacation home that we can Airbnb and stay at when we want. My issue is, everywhere on the ocean in the US seems super expensive. We don’t have to be right on the ocean even though it is preferable. I’ve looked at real estate so far in Cabo, Rosemary beach, Long Beach, and South Carolina. Where can I get the most bang for my buck buying an oceanfront (or near the ocean) property? Our budget is 300-750k. We’re considering condos and homes. Is this even doable? submitted by /u/suhhdude1 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/s9yieq/best_bang_for_your_buck_oceanfront_property/

Sorry for the crap title. So I need to sell my house so I have equity for a competitive bid for a house. I guess not everyone needs to sell their home first? What happens if I don’t find a house soon enough before they need to move in? submitted by /u/candyapplesugar [link] [comments] source https://www.reddit.com/r/RealEstate/comments/s9bp7s/how_does_it_work_to_sell_my_house_to_buy_another/

https://imgur.com/a/74bBJl6 https://imgur.com/V3gsiCp https://imgur.com/78G9WaI ​ The home is 1050 square feet, one floor with an attic and half-finished basement and a one-car garage. 90 years old. The furnace short cycling at least seems like a problem. Which of the other issues should really be handled by the seller? submitted by /u/KirisuMongolianSpot [link] [comments] source https://www.reddit.com/r/RealEstate/comments/s9auij/which_issues_should_i_ask_the_seller_to_fix_or/

We just got an offer on our house for a reasonable price plus they’re giving us an additional 3 months to find a house until we close. I bought it for 90,000 in 2017 and just sold it for 144,000. It’s 1300 square feet. We have two kids and need a bigger house. There’s a house that just went on the market in the perfect neighborhood with a half acre lot. It’s 310,000 but only 1600. The house is nicely updated. It does have a finished basement for toys. Im just struggling to put an offer in or use those 3 months to see if anything else comes on the market. I know interest rates may go up and I know this house won’t be on the market long. This is in Wisconsin. Any insight.. thanks! submitted by /u/shroomymesha [link] [comments] source https://www.reddit.com/r/RealEstate/comments/s99hus/wait_for_spring_to_purchase_or_put_an_offer_in/

submitted by /u/HoneyIShrunkTheTwins [link] [comments] source https://www.reddit.com/r/RealEstate/comments/s96v63/should_all_tenants_on_the_lease_get_renters/

We want a house that is outside the region my realtor is willing to travel. Here's my plan, can you suggest other ideas and can I incentivize the seller's agent? - offer at or very near asking price with an escalation clause to my comfort limit - so stupid but "as-is" purchase with no inspections - pay the full 2% transfer tax instead of splitting The kicker... - call the seller's agent and tell him to show me the house or call his BFF up to show and write an offer up. Figure out a better than average fee for the agent. How can I make this last idea work? What are my options? submitted by /u/RBbugBITme [link] [comments] source https://www.reddit.com/r/RealEstate/comments/s95s3e/tactical_advice_for_winning_the_bid/

I've spoke with one person that said I needed to raise my credit score to be able to qualify for a house loan, but I've heard from a lot of people saying that they've got a house with poor credit. My credit score is currently 580. Is there anyway I can get a loan haveing this bad of a credit score? submitted by /u/joshmiller890 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/s95q8b/can_i_get_a_loan_for_a_house_with_bad_credit/

I tried to sum it up fairly easy with the title. My wife and I found a great home with a huge piece of land in a city we really like (greater LA area.) the seller is willing to sell it to us at asking, there’s no other bidders since the house is technically not back on the market yet. BUT there’s tenants. They’re supposed to be moving out well before escrow closes. Is there anything we should keep in mind? We are fully on board since everything else checks out other than having tenants. How big of a problem is that really? submitted by /u/dv190 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/s95gtg/first_time_buyer_seemingly_perfect_house_with/

Apparently, this is the downside of using the listing agent’s partner after getting my offer accepted. According to my agent who claims to be on my side: There is no room to negotiate with the seller after the home inspection and appraisal Seller is not going to pay for anything even termite control. So I told her that you’re acting way too obvious that you’re thinking about the seller’s interest as a buyer agent. She questioned me: Are you saying that I’m not trying to help you? I feel insulted. I told her that I know you guys are trying to impress the seller so he will let you sell his other 12 properties. But, please don’t tell me that I shouldn’t even try to ask for any seller credit or any reduction. I can try to talk to the listing agent if you don’t want to try it. Back to the topic, I paid 40k more of the listed price to get the acceptance. My down payment is 35% so even though the the appraiser appraise the house value as the listing price, it won’t make any differ...

So my wife and I recently moved into a larger and more expensive home on a 30 year mortgage. The result of this move has led to an increase of $900 between between the new mortgage and more expensive utility payments. We have $25k put away in an emergency fund which is 6 months of total expenses for us. 401k contributions are at 15% each with the combined balances standing at around $450k (we are both 37). My wifes car is paid off but I have a $400 car loan for 4 more years. With the new house we are spending 20% of our monthly after tax (and after 401k deductions) take home income on the mortgage + taxes + insurances. After all total bills, day care ($1k per month...ouch), etc we have around $3,500 left over each month. This would be $3,500 to put towards additional savings, vacations, hobbies, etc. Part of me is kicking myself that we should of stayed in our smaller house where we owed $120k, now we owe $280k with a new 30 year mortgage. Did my wife and I spent too much on a hou...

My landlord put up my rent last year by 11% £675 (2020 feb for 1year & 6months) to £750 (for 6 months). (One bedroom terraced house) (Bedfordshire). I felt this was unfair but we signed as we was given just under a months notice. Didn’t really have time to look elsewhere. Anyhow we paid it, never missed a payment. We have signed another 6 months but at the end of this tenancy he’s looking to review again!! I feel this landlord is taking advantage of us. Is the rent allowed to just go up like that. submitted by /u/ains321 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/s8gem3/rent_increase/

Just to give context, This is currently happening in the bay area market. House prices are insane, interest rates are higher and increasing and yet listing price is at all time highs. With this situation, buyers are offering average another 10% over list. Both the selling and listing agent says highest and best offer, so you as a buyer are making an extreme stretch and bringing everything possible for that house to the table. Now sellers have this preset mindset to go back for counters. Regardless of the number of offers they have this preset in their mind to go for counters to extract every little bit from the already disadvantaged buyer. From my experiences (in past 2 weeks talking to realtors) what I observed is, " you are just bidding against you". The person who stood first in the 1st round is still the 1st after counter. He has just overpaid $100k more on top of the 10% premium. What everyone else who didn't get the house have now done is, they have made their n...

I’m planning on renting a house with three other grad school roommates. We saw a house we liked online and got contacted by a realtor that gave us information on that house and a list of others. Recently we visited a few house. After the tours, the realtor sent us the application for the house we liked and said there would be a $200 application fee for EACH roommate. This seems pretty high. Is that normal price for an application fee? submitted by /u/housemalta [link] [comments] source https://www.reddit.com/r/RealEstate/comments/s8djdp/application_fee_reasonable/

State is Montana by the way. I've been in contract for a new construction home for the past year. After many setbacks I was happy to receive the official notice of closing coming up. I went out to visit the lot and spoke with the builders agent who said that in addition to having to wait till after winter for landscaping (snow everywhere) the garage doors are proving to be impossible to get and it won't be available by closing. I spoke with the foreman and he said that their either boarding the garages up with plywood or can leave them open. I'm... Really not sure how to handle this situation. I know getting doors is a national issue right now but I also know once I close the house is bought 'as is, where is'. How can I go about ensuring that the developer will actually obtain and install the doors once supplies are more available? To my benefit, this house is in phase 1 and near the entrance, of a 4 phase development so any lack of exterior items like this wi...

Just sharing my investing strategies and knowledge. Hopefully it helps someone out there if your trying to decide to buy or sell real estate in 2022. I’ve studied as much as I can about economics in the last 5 years and the information tells me real estate has much more downside risks for the next 2-5 years as opposed to other investments in 2022. I was a realtor from 2016-2019 and it was a great run but I knew I needed to diversify. I managed to invest about $30k in 2019 into crypto(65% Bitcoin, Ethereum, Cardano, and a few shit coins), precious metals investments(20% First Majestic Silver, Barrick Gold, physical, and leveraged silver and gold ETF’s), and a foreclosure servicer stock Altisource Portfolio Solutions (15%). These investments almost all saw huge crashes prior to 2019 and looked like they were just sitting on the floor when I bought them. Thankfully I did and now the portfolio is worth over $180k. Most of the gains were all crypto so I converted another 10% of the gains ...

I just wanted to get some outside opinions on this. Currently we live in a 1800 sq ft house that is about 1 bedroom and some office space short of our long-term plans. Initially we set out to buy a new home however we have become discouraged during the searching process as it seems the houses we are targeting are just out of our price range. We are debating continuing the house search or resolving to close in our former carport to add ~200 sq ft as an additional bedroom to suit our near term needs and then renovate the house as needed to make it more of what we want. We do like our existing house and the house search so far has consisted of searching for basically what we have now but for 1 more bedroom. We do have some amenities in our current home that we would had to lose such as a nice kitchen, large lot and larger older style bedrooms. Any opinions are appreciated, especially those particular to the Raleigh area. Thanks! submitted by /u/RoombaWrangler_ [link] [comments]...