Should i take advantage of the market and sell my once bought 30k homes (3) for 170k or just continue to rent them out but raise the rent? submitted by /u/Puzzleheaded-Run2491 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/tsy3ea/sell_rental_homes_or_raise_rent/

Hey, this is the first time I've ever looked for advice from the internet or posted on reddit. I am from Canada and I've been interested these past couple years to get out of the renting/leasing game and start paying into something I will eventually own. I've never had much help or guidance when it comes to real estate growing up and I'm hoping to get some advice on what I should have ready and what I will likely need to qualify for mortgage on a house. Any advice would be greatly appreciated. submitted by /u/Fun-Ad360 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/tswsqy/25_year_old_looking_for_advice/

Any suggestions welcome - this is my first investment property submitted by /u/WorldSpark [link] [comments] source https://www.reddit.com/r/RealEstate/comments/tswoi2/recently_bought_investment_property_single_family/

I can already hear the comments where people say they don’t have a crystal ball. But for those of you who’ve been in the business for long enough, what do you think the market is going to do over the next 12-24 months? (Example: rates going up to 7% but eventually that’ll force house prices to go down -or- rates will fluctuate and house prices will continue to go up) Just wanting to hear everyone’s best educated predictions based on their own expertise in the field. submitted by /u/realityaddicted [link] [comments] source https://www.reddit.com/r/RealEstate/comments/tsvx9v/whats_your_projection_for_the_real_estate_market/

Note: I'm suspicious the realtor might not have my best interest at heart since they works a LOT with flippers. Run down condo which my realtor says is in need of about 30-40k in repairs and upgrades. Realtor says as is, it would probably sell for 500k. After renovations, however, they expect a sales prices 620k+...?! However, I have no interest in putting money into the unit and want to sell as is, ASAP. Isn't selling at 500k allowing a ridiculously large profit margin for the flipper? Shouldn't I be looking for like 525? More? submitted by /u/RandomRedditNameXX [link] [comments] source https://www.reddit.com/r/RealEstate/comments/tsvqtw/how_much_does_a_flipper_expect_to_make/

I have never lived in apartment, so I don't know almost anything about them, but me and my girlfriend are planning on moving in together soon. Obviously we plan on sleeping in the same bed, so we have been looking at one-bedroom apartments in our area. We are looking for apartments that are around $1000/mo but I'm a bit confused because I'm not sure how it works. Since there are TWO of us in ONE bedroom, does that add something to the price? Or is that $1000 solely related to the price per bedroom and it is $1000 per month overall, meaning we would both be paying $500 each, every month, for rent? submitted by /u/jackhabitat [link] [comments] source https://www.reddit.com/r/RealEstate/comments/tsvccb/question_about_renting_with_a_partner/

I’ll keep it simple. We found a home 550K. We liked it and offered 530K for it, they said ‘no chance’. We waited a week and came back with an offer of 561K - the owners came back and said WE WILL NOT SELL UNLESS ITS 590K. We declined. It’s been three days since we declined and the agent messaged me saying ‘hey the owner wants to know if you have any higher offers’. I said ‘we’re not putting another cent’. In your experience will the seller drop down if we let father time do it’s thing? submitted by /u/Teakmahogany [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ts3psb/do_you_think_we_will_get_this_home/

We've been with them for 4 months. 10 emails back and forth, and one showing. Would you give a gift? Maybe $30 to a local restaurant? Leaving the market because we are happy renting (and saving a ton). This market is too stressful especially when you add the financial changes due to the interest rates. I've burned dinner twice and have been short tempered with my kids for weeks. submitted by /u/nukidhere [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ts23tj/exiting_the_buyers_market_should_i_give_my/

So a little background first. I’m 39 yo, first generation immigrant came from Asia. Been in US for 10 years. I own around $4m RE in my home country with all mortgage paid off. I own a house in SoCal which I bought in 2015 for ~800k with 450k mortgage remaining. Now this worth $1.4m. Then I moved to Dallas but I did it sell the house in SoCal instead I rent it at 3.5k/mo due to a tenant since 2018. I bought a house in Dallas for ~$470k which worths $800k now. This one got around $300k mortgage remaining. I got both refinanced with no cash out during the pandemic. My main job is a software engineer at one of FAANG which nets me usually $300k but $400k in 2021. My wife also works for a salary of around $130k. We have one kid. I have around $400k in cash, $600k in stock/rsu/401k. So my total net worth is at around a bit less than $7m. You see my problem now, first I have $400k cash stay in bank account which I feel nervous about. Secondly I only buy house when I need to live in, but I

I just got in contract with my new home in the Bay Area. My monthly PITI of ~8000$ are stretching my budget to the limit (I am definitely "house poor" and hope we survive on water and ramen the next few years). The house has an ADU which I'd like to rent out and any additional income to offset the high costs would be extremely helpful! But I am scared about the taxes that I have to pay. Suppose monthly 3000$ property taxes, 100$ home insurance, 4900$ principal+interest and I can rent out the ADU for 3000$/month. How much taxes do I need to pay on the 3000$ rental income? Because realistically I don't make income because my expenses are way higher. On the other hand, I also live in the main building so it's not clear to me how this works. Bonus: Is there any difference regarding taxes if the ADU is not permitted? submitted by /u/segdy [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ts115h/sf_bay_area_how_much_taxes_to_i_pay_wh

is it worth paying $1,600 for a 120 day interest rate lock at 4.875%? or better off waiting till july? (new build home closing date estimated for early july) submitted by /u/bumble_bee21fb [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ts0pyo/is_it_worth_paying_1600_for_a_120_day_interest/

Hi I am a first time buyer and Found a lovely house for me and my partner to start the next phase of our life. We had been looking for three months and finally after two failed bidding wars on other houses we were finally accepted on a two bed house. Everything was going well until we received an email that states '' The valuer has provided a £0 current valuation figure and left the following comments; Evidence of movement to the property was noted in the form of distortion to/around openings. A structural report should be produced from an appropriately qualified Engineer/Surveyor on behalf of the purchaser.'' This is from the lending doing the house survey for valuation. We really do like the house and do not even want to entertain the idea of looking for properties again. Please advise on what should we do next. Any advise will be much appretaiate. submitted by /u/itsmeramen [link] [comments] source https://www.reddit.com/r/RealEstate/comments/tqwbgg/0

Hello, looking for some advice , my tenants have alerted me that there are several leak issues in their apartment and the pipe that is causing the leak has been located as the one above my unit. However my property manager and several other nearby unit owners have made attempts at contacting the owner of the apartment causing the leak but haven’t received a response — has anyone experienced this and have advice? submitted by /u/jacquroman [link] [comments] source https://www.reddit.com/r/RealEstate/comments/tqvry2/leaks_from_other_property_damaging_my_property/

I’m looking for sites similar to LoopNet to search for investment properties. What do you guys recommend? Thanks! submitted by /u/RedditUser1468 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/tqugtq/what_are_some_alternatives_to_loopnet_for_an/

Historically I’ve always bought 100+ year old houses because I love the charm but due to the current market, I’ve gone ahead and put a deposit on a new construction home. Overall, it looks like a decent value for the price. Base was $383k + $10k premium for being on the lake, upgrades I’ve picked are $33k (primarily items I can’t do after completion or are difficult to do…Eg tray ceilings) for a 5 bed, 3 bath in a gated community. Similar existing homes in the immediate area (including the community itself) are selling for $500k+ and lack a lot of the things I wanted. I did a ton of research/interviews, and I’m very comfortable with the builder. They’re definitely the best builder in the area for my price range. Any advice or tips for someone who has never had a house built? What upgrades do you wish you had done? Upgrades you wish you hadn’t done? Any suggestions for post-completion projects that will give the house some of the same charm I’m used to in older homes? submitted

Title says it all. There's a handful of credit unions and local mortgage broker companies that I can contact to get rates/quotes on a mortgage for a home I'm thinking about buying, but how do you do that without hurting your credit? Along with going through your finances, won't each lender want to do a hard credit pull which hurts your score? How can you shop around for the best rate without shooting yourself in the foot? submitted by /u/copofop80 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/tqu0nx/how_do_you_shop_around_for_best_mortgage_without/

So after months and months of vehemently looking for our dream home and all different sorts of offers on 6+ properties, we just put an offer in on a beautiful home listed through Offerpad. I’ve read nothing but horrible reviews of them online but the majority are of people selling their homes. Does anyone have any stories, preferably good lol, of you or your client buying a a house from them?? At this point I’m just dying to get an accepted offer so I’m willing to deal with some minor bullshit lol but nothing major! TIA! submitted by /u/Em_Allen [link] [comments] source https://www.reddit.com/r/RealEstate/comments/tqtl14/offerpad_experiences/

I currently have my condo listed for sale, with the intention of buying a SFR. I have my place listed at the same price point the last two identical units have sold for within the last month. Keep in mind, my unit is in a better location and is more upgraded. I had an open house on Saturday and only had 4 visits. While my open house was going, I went to 6 open houses for SFR’s which were all busy. My initial thought was maybe the rate hike is affecting the condo market and has not hit the SFR market yet. submitted by /u/Ksl848 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/tq6jht/southern_california_have_you_noticed_a_change_in/

Currently, I have about a couple hundred grand. I used about half of it to fund my one flip that I am doing right now. I recently sold my first flip this year, yielding a profit of about roughly $100k, within a 3 month span. I'm currently doing my second for the year, which should yield about $170k. I wanted to use my other half of the funds to fund another potential flip. But I really love this one house I saw pop up on the market, to live in. Making money is definitely a priority to me right now. I started my flipping business last year. However, I live in a very toxic environment. My brother once in awhile fights with my father and I that he owns the house. And I really want to just move out of there. Currently, we live rent free. Which is incredibly awesome. But now that I'm making some money, I just feel for my mental sanity I want to move out. And buy my own place. My mother passed away also due to the amount of pressure and stress my brother had put on her, because he

Is this what people normally do when their app gets denied? submitted by /u/InternalPurple6088 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/tq4b0h/i_applied_for_a_rental_property_and_found_out_it/

I've been licensed since 1978, and was active 5 years in the market prior to that. I've always done investment properties and flips. While every peak in the market is different, and there's some indicators that can shed some light on future values, I avoid market extremes like the current sellers market. I also avoided the 2007 peak for the same reason. I've seen 4 of these cycles now. Everything I have seen thus far indicates buyer fatigue/less demand. It's starting to show up in random markets, but the bottom line is a slowdown in purchases. Yes, much of this is mortgage rate driven. First to pull out are the marginal buyers, the ones hat can't buy if rates go up by a point. Ian Shepherdson is a guy I follow who's always ahead of the curve. He's Chief economist and founder of research consulting firm Pantheon Macroeconomics. When I say ahead of the curve, I mean he's an outlier at this point. However, He's saying what I'm seeing at groun

Thankfully, we just found out our last remaining debt (student loan) was forgiven due to PLSF - it should have been forgiven over 2 years ago. Whatever. It’s done and we have confirmation email and account balance is now zero. We emailed out loan officer to let them know. We are in a 150 rate lock (mid august) with a rough estimate of a close in late May/early June. We know this isn’t “official” for the loan officer as they will want to see it reported by the 3 credit bureaus, but should we contact the credit bureaus to “expedite” this as it’s a bit time sensitive as I know it can easily take 60-90 days for a revolving loan to drop? submitted by /u/rhuff80 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/tq392f/completed_school_loan_debt_and_in_contract_for/

Buy the Cheap Reno or the More Expensive Forever Home? We are moving back home to be closer to family this summer, and are starting to look at houses. Obviously the housing market for buyers is really bad right now. We looked at a few houses this weekend, and have two options: A small, 3-bedroom home that will need a good amount of updating in the kitchen and bathrooms (1.5 baths), because all of the appliances are original to the house (and the house was built in the 50s or 60s); or a 4-bedroom house at the top of our price range (based on what we’d offer for it) with minimal updating needed. We have two small kids, and my partner plans on working from home permanently, and I’ll be working from home 1-2 days a week. Other things to consider: House 1 is further from my work, but in a cute neighborhood that is within walking distance to a park/playground/school and town with things to do. We’d also have family within a 5-10 minute walk and my mom is about a 10-minute drive. It’s also

To the “you should’ve waited crowd”.. I had so many nay sayers including my partner (lol) who doubted my idea of buying a house back in September(closed in November). My house that I paid $220k for here in the Charleston SC area is now around $260k (no joke!). My interest rate (I have a credit score of around 680) was just below 4% would now be a tad over 6% according to my lender. So therefore I would’ve been stuck in our rental which was being increased by $210 a month. Now we live in a larger home (1450 vs. 500sq ft), a garage, a yard and so many updates… with a roommate who pays $800 a month….. If I had waited for cheaper prices and less competition I would’ve been stuck renting; because my payment would be well over $1700 a month after all escrow and taxes factored in and that’s without the price increase… yes I would’ve truly lost out. submitted by /u/forthepeace86 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/tpgu16/if_i_had_waited/

I know the IRS code is riddled with various perks for married people and benefits for families (kids are pretty important so I call those benefits instead of perks), but some of them just seem to beg for class action lawsuit. Take the deduction for proceeds from the sale of a house. Singles: $250K, couples: $500k. Now what justification that isn't totally frivolous can explain that? It's not like couples are selling two houses, it's just the house, the one house. The number of single home owners has done nothing but grow in the last 40 years or so and there is a a real lack of equality built into this. Is this a reward, or prize for shacking up with someone? For likely having lower costs due to probable dual income? Like at the carnival when you win a stuffed animal? (Also note, the deduction is pretty low for today's prices - good NYT article about that this week) ​ submitted by /u/buried_lede [link] [comments] source https://www.reddit.com/r/RealEsta

Any advice on next steps?? Hey Everyone! Before I pose my questions, I’d like to give my current situation for context. I’m 24, make 85k a year and bought a home in Gilbert, AZ in July 2021 for 335k and currently have a principle balance of 314k. Given the current market here and how quickly values have appreciated, I was able to get a HELOC at 4.24% with a 50k draw(home appraised for 420k)to do a full home renovation. The renovation is on going and should be done next week. I’ll have spent 49k on the remodel (all HELOC). Im confident that the home will be worth 480-500k when the remodel is done. The rental income would be estimated at $2500-2700 a month. My goal is to buy a second home as a personal residence and rent this house out, eventually repeating this process until I build up a portfolio. I know this is a common strategy so I’m hoping some more experienced guys/girls can lend some advice on the following questions: How did you get your down payment for the second home? N

Supposedly my realtor told me they’ve “dried up” basically.. so far I know of a possible homesteading exemption but just for the taxes. Maybe there is some other county specific help, but what else? submitted by /u/garbagebargage [link] [comments] source https://www.reddit.com/r/RealEstate/comments/tpenyb/are_there_are_any_federal_or_whathaveyou/

Aside from them being complete assholes, are they expecting some huge crash and all of a sudden tons of homes with be affordable and available with ZERO other effect on the economy? If they don’t want to overextend themselves I totally understand, but it just seems like they are waiting for a $500k house to drop one day to $350k. submitted by /u/JW_2 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/tpeagv/what_are_the_people_on_rrebubble_waiting_for/

Submitted a few offers so far in OC, CA. Came in second a couple times and have been countered a few. We’ve offered an appraisal gap but haven’t gotten to waiving it, given how much the market has driven prices recently. Should we start waiving the contingency from now on to be the most competitive we can be? submitted by /u/wfbsoccerchamp12 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/tpdqcp/does_appraisal_contingency_basically_need_to_be/

Got a pre-approval from them and they charge basically nothing in lender fees. Agent explained that Box is a high-volume, low-margin business. Obviously they make their money reselling the loan. No processing/underwriting/junk/misc fees. The only fees I would be looking at are an appraisal, and third party fees for the title. The interest rate was competitive as well. Am I going to have a hard time getting an accepted offer in a competitive market with an online lender like Box? ​ Here is the breakdown of closing costs (excluding prepaid reserves) for a 560k loan. What am I missing here? It seems too good to be true. The agent was responsive, and said not to expect any surprise fees once under contract. Box is based out of Utah, and I am on the other side of the country. ​ Box Home Loan Charges Processing Fee $150.00 Third Party Charges Appraisal Fee $525.00 Credit Report $26.00 Title - Closing Protection Letter (Lender) $125.00 Title - Endorsements (100) $50.00 Titl

My neighbor and I have agreed upon a purchase price for my home. The realtor I have met with once (did not sign any paperwork) expects it to sell about 10K more than what my neighbor has agreed to buy it for. After paying my realtor and the buyer’s realtor, I imagine I would come out with about the same return selling to the neighbor as I would going to market. In this case, should I hire an attorney to look over any documents and perform a title search as this process is completed, or would that be on the buyer? I hired the attorney when using a realtor when I purchased the home, but wasn’t sure if ai should hire the attorney to CYA. I don’t mind paying attorney fees to save on paying realtors. Anything else you would note going through this process? Thanks. submitted by /u/kforhiel [link] [comments] source https://www.reddit.com/r/RealEstate/comments/tnms50/neighbor_is_offering_to_buy_my_house/

I’m type A. All of my documents where submitted in the first week and a half of my closing. utilities, insurances, inspections, the whole shebang for my buyer responsibilities, complete. My lender waited to schedule the appraisal. And then the appraiser waited until Saturday of the 3rd week to go to the property. I knew disaster was brewing when the appraiser called me on Saturday and said. "Im trying to do the appraisal and no one is here. I need to get this done by Monday." I tell him I am unsure why no one would be there and let him know I can call my agent, he says irritated "yeah, figure it out because I’m trying to get this done for you." Oh no. Apparently he made two appointments previously and didn’t show up for them and didn’t make one for this time so the buyers were in California. He submits a report without getting into the house and it’s obvious because features he is saying on the report are missing, are actually there. The appraisal comes in lo

The 2 out of 5 years statement is confusing Is it required that I own the house for 5 years? Or since I’ve lived in it for two years and owned it for two years I qualify for the exemption submitted by /u/OwnInstruction6251 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/tnkfp2/tax_question_i_have_owned_my_home_since_jan_2019/

We are looking to upgrade our house, from a paid off house in the 550-600k range to 900-1MM range. I have another 200k in cash for a down payment. What are some ideas to minimize transactional costs if I wanted to buy them sell? In our area, there is an additional 1.3% mortgage recording tax. I would likely put most (60-90%) of the sales proceeds into the new mortgage assuming I can't benefit much from any tax benefits (unless SALT deduction cap is repealed) submitted by /u/greenerdoc [link] [comments] source https://www.reddit.com/r/RealEstate/comments/tnkc7e/cheapest_way_to_buy_then_sell/

With the demand to buy, I don’t believe there will be a crash anytime soon, but we all know a crash will happen eventually. What do you think will cause it? submitted by /u/buy_hold [link] [comments] source https://www.reddit.com/r/RealEstate/comments/tnjtxx/what_will_cause_the_next_housing_crash/

I'm just trying to think through this. If I were to get a boxabl home, set it up and install it on my land, then later on decided I wanted to sell the thing, how easy is it to move it? (Of course utilities need to be disconnected) Can I fold it back up to move it? submitted by /u/Routine-Prune-4964 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/tnh5y9/boxabl_fold_back_up_and_move/

submitted by /u/Status-Beginning-499 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/tngksg/commercial_property_inspections_texinspec/

This is more a rant if anything. Myself (30F) and my partner (32M) are renting. Our Real Estate agent has just phoned and said that the owner is going to put the house on for sale in the market and that hopefully it will be purchased by investors and we can continue to live here. I Wanted to purchase our first home at the end of this year as currently, I have 40K in savings and my partner has 18k(AUD). I am so disheartened because anywhere in my state really has property that is just super inflated prices and I can’t even get a first home owners grant because it will be over 700,000. We need a minimum a freestanding house garage (for his cars) and largeish yard for our dogs. We are willing to move away, but seven hours away is just as expensive 😵‍💫 Is there any hope of us purchasing a house that is around 600/700 with what we have? Both work full time. I’m on 90K my partner on 65K. submitted by /u/Al1ssa1992 [link] [comments] source https://www.reddit.com/r/RealEstate/

Hey everyone I'm looking for some advice on how to start generating leads for house listings. I'm starting with my own website and work for a broker already. Any help would be so much appreciated from seasoned agents that have any tips of the trade . Thanks 😊 submitted by /u/brandino36 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/tlznw8/realistate_leads/

submitted by /u/lwj1215 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/tlr6gg/predator_lending_practice/

Hi. Im interested in purchasing a multi-family unit but not sure where to start. I have about 150k saved and a decent job making 75k+/year. I have heard of only putting down 3.5% for FHA loan if I use it as my primary residence which I plan to. Ideally I would live in one unit and rent the rest. I travel alot for work and need a home base. What would be my first step here? Do I contact a realtor or my bank first? I have a property picked out but unsure of the steps to take. Any advice is welcome and appreciated. Thanks. submitted by /u/bonedaddy919 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/tlzy4e/want_to_buy_a_multifamily_unit_where_to_start/

Purchased my home last year at a 2.6% FHA, my PMI is like $250 a month. With the inevitable tax hikes I’m starting to get the feeling that it will never be worth it to refinance as the interest hikes would negate the loss of PMI which kinda sucks. Is there another way to get this dropped? submitted by /u/Best-Safety5373 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/tlzmqs/will_i_ever_be_able_to_refinance_to_drop_pmi/

If this is the wrong place to post this, please point out which sub would be a better fit. Thank you! My wife and I expect to retire in Texas soon-ish, and are planning a road trip at the end of April to the Amarillo area from the PNW. We'd like to roam the countryside a bit to see what appeals to us, and hopefully meet a few realtors with the goal of finding someone experienced with rural listings we can work with while we're there, and long distance after we leave, until we find that perfect bit of dirt to retire on. Our time is limited on this trip, (a week), so the Amarillo/Lubbock/Wichita Falls area is where we'd like to focus. If anyone here could recommend a realtor or two in that area that have experience helping folks find their retirement nest, it is greatly appreciated and we thank you in advance. submitted by /u/Throwaway_Acct17 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/tkrt4l/looking_for_recommendations/

"no wall, fence or hedge shall be erected or maintained nearer to the front lot line than ten feet behind the front building line on such lot, nor on corner lots nearer to the side lot line than the building setback line parallel to the side street reflected on the plats." I understood most of this, but then I kind of got lost. What I understood was that the fence cannot be 10 feet to the front line. But then I got confused what they meant by ten feet behind the building line on such lot? ​ If someone could dumb the paragraph down a little bit for me. I would greatly appreciate it! Thank you! submitted by /u/EsmeYcats [link] [comments] source https://www.reddit.com/r/RealEstate/comments/tkmc74/question_about_hoa_guidelines/

I live in California and been dealing with roaches in my apartment for 9 months. I have pictures and several emails. Even a email a week or two after I moved in. I didn't know my rights and thought I was screwed since the issue was off and on and was told they'd take my deposit and I'd have to pay one month's rent to break lease Exterminator has come multiple times and still having roaches one crawled on me in bed....one went in my oatmeal the other day. I found a new place and I'm moving April 1st....do I just state the civil code 1942 and copy everything it says and that California law lets you do this, under the legal remedy of abandonment. This roach issue is across the building I've seen them in the hallway and have traps at My front door with them in One day I killed about 7 2 to 3 inch long ones...I was terrified all night and didn't sleep. submitted by /u/KingofStank [link] [comments] source https://www.reddit.com/r/RealEstate/comme

I’m co-borrowing a mortgage with my fiancée and her mother was going to gift some of the down payment. Would her mother be able to be named on the house deed so that she has a stake in the house? Or would that violate the definition of gifting? submitted by /u/porgbbq2017 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/tko4ut/can_down_payment_gift_giver_be_on_deed/

Hi all. We had a walk through today one week before a new construction in Florida. There are so many issues - bath tub broken, garage floor is messed up ..its truly a disaster. We are supposed to close in one week. What tips do you have for me? I got a 3rd party inspector and I get the report tomorrow. Here’s my game plan: Email the inspection report to the superintendent Email my concerns to the superintendent Retain a copy of the punch report I’m very concerned about closing in one week with all of these concerns. This is the 3rd house I’ve bought but first new construction. Please provide me all of the advice you have. Thank you. submitted by /u/neeltree [link] [comments] source https://www.reddit.com/r/RealEstate/comments/tko489/walk_through/

I’m a cash buyer and purchasing a new home in a development. The house was newly built in 2021 and I’m purchasing from the original purchaser from the developer. Is title insurance necessary in my situation? submitted by /u/HeatherAnne1975 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/tk0slc/is_title_insurance_necessary/

Looking to buy rental properties as means of income. Is it smart to take out a roughly $40k 30 year loan for a property I can probably rent out for $700/month? submitted by /u/Better-Extension9348 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/tjzh8n/is_it_smart_to_take_out_a_30_year_loan_for_a_40k/

How do we calculate the land value, would it be based on appraisal report or taking a ratio of the assessed value from the county assessor? the issue with the county data is that it doesn't reflect the recent purchase price, and the last time the property changed hands was in 1995 when land value > improvements. now it is the complete opposite where land value is way more than the value of the improvements. I am having a discussion on which method is best to determine the value of the improvements. based on county data (based on assessed value but land < improvements), based on appraisal report where land > improvements. I am having a discussion with someone else and I am claiming the appraisal report would be more accurate, whereas the other person said looking up assessed value from county is fine (even though the house last changed hands in 1995) where the amount of depreciation would be more because based on ratio, the improvement amount is more than land. the differ

The land market in Awendaw, SC is currently strong. There is high demand for land, especially near the water. Properties that are closer to the Intracoastal Waterway or have waterfront access are selling quickly. Prices for land vary depending on the location and size of the property, but can range from $50,000 to over $1 million. If you're thinking about purchasing land in Awendaw, SC, it's important to consult with a real estate agent who is familiar with the area. They can help you find the perfect piece of land and negotiate a fair price. Read more: https://www.saashub.com/posts/WnPPmaQePqLq-what-is-the-current-market-like-for-land-in-awendaw-sc submitted by /u/locating1 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/tjwlp1/what_is_the_current_market_like_for_land_in/

Hello everyone, My family and I are trying to buy a quadplex (2 separate duplex buildings being sold as a package deal, $72k each) and I have a potential tenant that’s a family friend that has income and is willing to pay $700 per month. I have $60k combined savings for this quadplex. To clarify, both buildings are being sold separately, but the seller would like to sell them both as a package deal. This is my first time buying property and I have no idea what to do and I’d like for someone to explain the process of acquiring property. For example, which loan do I go for? How much should I put down for this $150k package deal? I do plan to rent out the other units after I fix them up a bit more. Any advice would be helpful and appreciated. submitted by /u/SnooMacaroons2048 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/tjwjpi/first_time_buyer/

I was reading through the appraisal and noticed the appraiser marked the home as 25 years old, rather than 32. I also noticed they noted that the home had new floors when the home has the original tile from when it was built and I’m having to replace the carpet because of the smell and how damaged it is. My agent swore a new 2022 construction home of the same size (bedrooms, bathrooms, square footage, etc) and similar location wouldn’t appraise for more than $230k. This home was built in 1990 and appraised for 262k, which just so happens to be a couple thousand over my offer price. We close in a week. Could the appraisal be bad? submitted by /u/HoneyIShrunkTheTwins [link] [comments] source https://www.reddit.com/r/RealEstate/comments/tj90cl/what_do_i_do_if_the_appraiser_incorrectly_noted_a/

I have a dilemma. I live in Ohio, pretty close to PA. I want to get a PA license because I'm more familiar with that area since I grew up there. PA is one of the few states that doesn't allow realtors to do business if they have a license from a different state. But I think if I get my PA license I would be able to do business in Ohio. I'm not totally sure, I couldn't find any clear answers online. But the main question is, can I get a PA realtor license as an Ohio resident? submitted by /u/dimifri [link] [comments] source https://www.reddit.com/r/RealEstate/comments/tj6gso/can_i_get_a_pa_realtor_license_as_an_ohio_resident/

I would consider selling one or more rentals. I suspect such a law would lead to a flood of homes on the market and would not only a long way to eliminating the shortage currently in the market but soften prices a bit. What would you do? What do you think would be the consequences? Any chance this might happen? submitted by /u/Idaho1964 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/tj82ig/what_would_you_do_if_there_was_no_capital_gains/

Anyone else noticing a change in the market? Homes seem to be sitting longer, and even going without offers after open houses. More and more houses going contingent and then back on market. More homes being listed that need remodeling. submitted by /u/Bigrignig_ [link] [comments] source https://www.reddit.com/r/RealEstate/comments/tj5dxj/beginning_to_change/

submitted by /u/samsam2019 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/tj5amu/would_you_buy_a_sfh_for_primary_home_with_high/

Wife and I are having marital problems, panic attacks, fights etc over house we’re buying under contract - if we back out and lose earnest money, what are the odds the sellers sue us vs just relisting house for sale ? submitted by /u/HareBrainedScheme [link] [comments] source https://www.reddit.com/r/RealEstate/comments/tikfb6/what_are_chances_i_will_get_sued_for_backing_out/

You could be a highly skilled real estate agent, but if people don't know about you, it's difficult to grow your client base. I've heard from various real estate agents over the years about challenges with finding new clients. While each real estate agent and their team may have a different approach based on various factors, here are some ideas: Consider joining clubs and groups in your city - not only will you get to know more people and your town in general, you never know if it will lead to referrals. You could write articles for your website about regional topics of interest, and optimize the articles to show up in search results as best as possible. Quality in terms of the article content, imagery, and writing style is important (as you well know). You may want to create Google Ads or social media ads - based on your budget comfort level and the resources you have to test those out. You could hire a part-time digital marketing contractor to work with you to evalua

I bought a rental house in Massachusetts recently. It's an old house with lead based paint. After buying it, I learned that Massachusetts law makes it nearly impossible for me to rent out the house until I get it de-leaded, which will be expensive. My realtor knew that this would be a rental property, but he never told me about the lead law. When he drafted an offer that waived the lead inspection, I asked him if that was safe. His response was "It's your call. I've never had a client conduct a lead inspection. In a house this old, there's most likely going to be some lead." I'll be buying another house soon, and I will find another realtor. Do I owe my previous realtor an explanation? My general preference is to avoid giving unsolicited advice. I'm not his boss. It's not my job to tell him how to do his job. On the other hand, he is a hard worker, and a nice person. He probably deserves to know what went wrong, so he can learn from his mistak

So I have an accepted offer on a house at $345k. I'm doing 20% down $69k, but we're sure it'll appraise lower than that. My understanding is anything lower than that will just give me an over 80% LTV and bring on PMI, but what happens if it appraises at 95% or 100% or worse LTV? Can I still get the place? I'm bound to my offer, so I just bring cash to the closing? submitted by /u/mixx2001 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/tiifoz/trying_to_understand_what_happens_if_the_house_i/

Bought first home via FHA 6 years ago. Looking to move, to something a bit nicer, and downsize from 2 story to a 1 story home. I have no idea where to start. Do I contact a realtor? How do I know what a good asking price for my home would be? How do I start looking for my 2nd home purchase? Do I have to sell my house first? Do I need to make an offer on my next house first? I am confused, lost, struggling, stressed out trying to figure out what I have to do. I just want a good starting point to go off of and how do I go about getting pre-approval without tanking my credit score? I also see houses for sale on our local real estate website for listings in our area, and some say "For Sale" and some say "For Sale: Option Pending / Under Contract / Continue to Show".. what's the difference? Seen some houses that I would move into in a heart beat but have the "option pending" flair. submitted by /u/Crimtide [link] [comments] source https://www.

Hello, first time poster. I’m a home and property owner, both under VA loans. I’ve been renting out a property in Florida for the past 3 years, and have a very dependable renter pool there given proximity to multiple military bases. Since renting it I’ve been rolling all the money over the mortgage back into it to quickly pay it off. I’ve seen comments in passing before that with debt as cheap as it currently is, there is no sense in paying off early. My rate is under 3%, and the math adds up to around 50k saved over the life of the loan by paying ~$500 extra per month, leaving me with about 14 years remaining out of 30 (purchased in 2017). I’ve had my eye on land (PA-WV area) to purchase for awhile, and can afford it without dipping into the excess income from the rental, but again, with debt being cheap, I’m wondering if it would be more worth it to allow the mortgage on the rental to be paid on schedule and use the excess for the payments on land instead. I can only expect land to

submitted by /u/vvinvardhan [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ties4m/do_house_owners_really_stop_the_development_of/

First time home buyer here. My closing date is scheduled for this coming Wednesday (3/23). Last Thursday (3/17) I noticed an error on my closing disclosure document before signing. Essentially my loan amount and closing costs need to be adjusted since it incorrectly states I am putting 5% down when I am actually putting 10% down. I informed my loan officer last Thursday (3/17) and he said they would take care of it by end of day but that still hasn’t happened. Nobody is in during the weekend so now the closing disclosure won’t be corrected for us to sign by Monday (hopefully) or Tuesday. Since my closing day is scheduled for Wednesday morning, do I have enough time to wire the money? I bank with Fidelity Investments so I don’t think there are a lot of physical locations for me to request a bank check. I asked my realtor and he said he thinks it should be enough time, but suggested I ask my attorney. I emailed my attorney and they haven’t responded. I emailed my lenders and they said

Hi. I got into a purchase contract for a home in CA. Escrow agent came back with a preliminary title report that showed the seller’s mortgage lender on there along with a lien placed by a creditor that sued the seller years ago when he went bankrupt. I freaked out and asked my agent what’s going on. Agent said not to worry about it. It’s normal and the title won’t have any liens or encumbrances on it when I get it. I called escrow agent and agent said they already got the lien off it’s all good. Yesterday, I had to sign the closing documents from my lender. There were so many documents and things were moving fast. I came to the preliminary title document and I paused. I asked if the title has been cleared and my agent said escrow sent an updated title report. I never got it. Agent called escrow who said the title will be cleared next week and hasn’t been cleared yet (threw me off cause a few days earlier they said they cleared it already)… as this was my first home purchase, I don’t

A lot of the bigger companies in my state are in the process of dissolving or have downsized into small crews. Despite the massive demand for housing i still havent seen a resurgence in young people joining crews, simply because it pays so little for how hard it is compared to niche trades like plumbing and electrical. I see threads about new or inexperienced builders, the homeowner has second thoughts. Youre not all going to get veteran builders, the old folks who know every trick in the book are retired. Yeah i miss them too. Unless you have a deep passion for construction i would hesitate to suggest anyone go into building right now, small crews are okay, its a lot less stressful and you have more time to get projects done. submitted by /u/BorgsCube [link] [comments] source https://www.reddit.com/r/RealEstate/comments/thphuz/construction_boom_doubt_it/

Tl:dr- is there a way to find out if the city or county has determined an empty lot is abandoned. Is there a way to stay informed in case it goes up for sale. I bought my home 4 years ago in California. Next door on one side is an empty lot. The previous owner of my home said that my lot and that lot were all one parcel at one time. The people she bought the house from decided to split them (which zoning allowed for). For 3+ years, no one did anything to or with the lot. Then, last fall there was a wildfire in the lot that cleared out a lot of loose brush and several beautiful old trees. A few of my trees along the edge of my property were damaged, otherwise we got off scot free. CalFire and the fire department took out the fence on the fire side of the property. According to heresay, CalFire and PGE are considering the property abandoned (per the tree service PG and E hired to take out one of my damaged trees). I would love to buy the lot, as it would double the size of my lot to 3

First time home seller. Our realtor listed our house, over the timeframe of a few days we got multiple offers. We looked at each one as it came in and communicated with the realtor about it. We talked about reviewing all offers on one day, however some offers had an expiration before the planned review. We found out today that the realtor didn’t communicate anything back to the other realtors about our review day and let offers expire. We didn’t explicitly ask the realtor to communicate back each time, but since we talked about each offer and discussed the day we were planning to review offers (realtor’s suggestion) we didn’t think we had to ask for this each time. After some back and forth (in a live conversation) trying to sort out how to move forward the realtor abruptly said they didn’t want to be our realtor anymore. We were caught off guard as all our interactions had been pretty good till this. No one was yelling or anything, we were trying to figure out what we should do as

Im thinking it’s a pretty rough time to commit to a build with interest hikes… thoughts? submitted by /u/vibesnsmells [link] [comments] source https://www.reddit.com/r/RealEstate/comments/tgzn8k/bad_time_to_build/

We are recently in the market for a new house in San Antonio, TX. The escalating property values across the nation and Texas are nuts. I am not a market analyst, but one thing that I am positive on is that land lords with single family houses are getting hit pretty hard. Legally they can not file for homesteads and cap their property taxes. My idea to search for a single family residence was to try and find properties that had increased in tax appraisal value >10%. To me this would be an indicator that the property does not have a homestead exemption. Is there such a feature for this on Zillow or any other residential for sale property website? submitted by /u/handdown76 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/tgzdfw/looking_for_a_new_house/

Hey everyone. So I live in in Queens, NYC and I currently am renting. For all intents and purposes, lets say I am unemployed. My wife makes under 50k/yr. I Recently inherited 250K from a sale of my family home. I'm trying to figure out what my options are. I see that most mortgages rely heavily on your income, I am curious if there are any options for people in my situation? An ideal situation to me (coming from having never done this before) is to put 150k down on a 350k house. Keeps the mortgage low and leaves 100k for savings. Originally I was looking to purchase in the 300K-400K range either on Long Island or maybe SC or FL, but due to the market, Long Island seems almost impossible plus I'm hearing you need to look at 250k-300k houses if you want to spend 350k-400k. Just looking for any advice and I appreciate any help you all have to offer. submitted by /u/InfiniteDrive06 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/tgx2mx/any_adv

Looking for 2000ish built SFH in Seattle suburbs… What are the few maintenance and upkeep things that one need to keep in mind? submitted by /u/catchrohit4u [link] [comments] source https://www.reddit.com/r/RealEstate/comments/tgvohp/sfh_maintenance/

Who wants it? https://www.redfin.com/CA/Mountain-View/955-San-Rafael-Ave-94043/home/1799715 submitted by /u/Sf566 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/tgvnt2/15_million_800_sq_ft_house_in_silicon_valley/

I had booked a property with a builder nearly an year ago. I had deposited my earnest money and signed the contract to take the house as primary residence. Since the builder delayed the delivery, i have since then changed my mind to not take it as primary. I reached out to them asked if I can take it as investment property and they strongly declined. The only other option was to take it as secondary which they agreed and was ready to change the contract and even sent me one. Before I could sign it, they called me and said that they were canceling my contract since someone approached to them and asked to look at my house as potential tenants. They suspect i was planning for renting the property hence the cancellation. The price of the house has gone up significantly so looks like its in the interest of the builder to cancel. The reason for cancellation as stated is “non-performance”. What are my options? I haven’t signed the cancellation contract yet but looks like I have 10 days to

I could’ve bought the house I was renting in 2019. A combination of factors led to me not. I really loved that house too. Now it’s gone from 175k up to 275k+ probably. On a cul de sac, beautiful peaceful neighborhood - it was perfect. Im in a bustling LCOL city that’s not so LCOL anymore. I earn six figures and have never owned a home. I want one bad but am freaking out over these prices (100k higher than a couple years ago). Is waiting dumb? Is it only going to get higher from here? Should I just accept this as the new normal and go for it? The regret weighs on me constantly. I hate renting bc I can’t do what I want w the place, can’t own a pet, and unpredictability (multiple situations where landlord decides to move back in at end of lease, etc). Any advice would be greatly appreciated. Really distraught over the missed opportunity and uncertain future submitted by /u/SteveJobsIdiotCousin [link] [comments] source https://www.reddit.com/r/RealEstate/comments/tguq0y/te

The sitch: My partner is in upstate NY, currently in a hospital due to MS. Recently he expressed desire to move to a better apartment, hopefully a shared one, as he's living in a complex with no elevator and they JUST enforced a "come downstairs to sign for your parcel" rule. No way can he go up and down 3 flights of stairs multiple times a day. He's also unfamiliar with how to begin, and is kind of incapacitated for a little while. Im 9000 miles away and unfamiliar with it too. My request: Anyone who knows the best way to get started please provide some info below! Does he need an agent or will googling apartments be sufficient? His lease is until December but he wants to move before that. Its an incredibly basic question but i'm trying to get as familiar as I can with how this is done in the US. I'll be so grateful for any help yall provide. submitted by /u/ravenbij66 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/tg6c77