Basically, title. I've had my mortgage for a little over 3 years now. I have $220k left on it and 26.5 years. My home value is $300k conservatively, maybe $310-315k on the higher end. Im paying MIP. My LTV is 73% using the $300k assessment. I thought MIP dropped off once your LTV goes below 80%??? But here I am, still paying the $105/month MIP. My current interest rate is 6.6%, it's what was the best available rate at the time. I've a car payment and a few credit cards too. Never missed a payment on anything, I have perfect credit. I could either refinance and save like $150/month in principle and interest alone, or refinance a 20y and pay $150ish/mo more in principle and interest and shave off 7y of my mortgage. Doesn't sound too bad of a trade off, it would save tens of thousands in interest. What's your advice here? Is there anything I'm missing or any other options that would be better? submitted by /u/bringbackbainesy [link] [comments] s...

What does it mean when a Miami co-op says there are “The building is on a land lease with 30 years left.”? HOA is $650/month. Does that usually mean the land lease gets renewed later and the HOA jumps up? Has anyone dealt with this type of setup, and what typically happens? Trying to understand whether this is a normal manageable situation or a risky, unpredictable deal. submitted by /u/Witty_Beginning_5067 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1s8h3w3/what_does_this_mean/

My preapproval was originally for $390k conventional loan. Then we went into negotiation with the seller and ended at $430k. I received a preapproval letter for this and made the offer. We are going through underwriting, and they can only offer an FHA mortgage based on the downpayment amount and the type of property. We reached out to the seller's agent and found out the house was appraised at $380k less than 2 months ago, and the initial buyer was using FHA. I am working with my agent, broker, lender, google.... but is there any practical thing I can do to get this house? I don't have the amount to fill the gap. submitted by /u/menwanttoo [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1s7vps5/house_appraised_2_months_ago_for_40k_less_what_to/

My preapproval was originally for $390k conventional loan. Then we went into negotiation with the seller and ended at $430k. I received a preapproval letter for this and made the offer. We are going through underwriting, and they can only offer an FHA mortgage based on the downpayment amount and the type of property. We reached out to the seller's agent and found out the house was appraised at $380k less than 2 months ago, and the initial buyer was using FHA. I am working with my agent, broker, lender, google.... but is there any practical thing I can do to get this house? I don't have the amount to fill the gap. submitted by /u/Justbrownsuga [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1s7w6gw/cannot_do_new_appraisal_as_it_was_done_2_months/

Hey all, I am trying to add my wife to the deed of our house in Georgia. We bought it under my name before we got married. I have read that quitclaim deed may be the best process for this, but I'm wondering if I can do on my own, and how? Or should I utilize the real estate company that we closed on our house with? How much are the expected costs? Thanks in advance. submitted by /u/RexUmbrae [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1s7sia3/how_to_add_my_wife_to_the_deed_of_our_house_in/

We’ve been searching for a home in a mid to high-end range in a desirable neighborhood. Our first agent, a friend, wasn’t a good fit. They worked part-time, lacked local market knowledge, and relied on a blanket strategy of submitting 10–15% low ball offers. Over time, we ended up doing most of the work ourselves—finding homes, running comps, and drafting offers—while they simply submitted them. At the start of this year, we switched to a new agent with good reviews. To her credit, she’s knowledgeable about the area, thorough in due diligence, proactive with seller agents, and gives practical guidance on offer structure and contingencies. However, she’s extremely cautious and tends to take the seller agent’s word at face value. There’s little pushback or assertiveness, often defaulting to “this market is crazy, you’ll need to go over asking.” While that’s sometimes true, we’ve missed opportunities where homes sold below asking and we didn’t even submit offers because we were advise...

My move and home-buying process is part of a corporate relocation as part of my new job. I must have a realtor that is “approved” in order for my employer to pay for my relocation benefits related to homebuying in the new city: 100% coverage for closing costs, inspection, and realtor commission fees. The realtor/broker has a buyer-agency agreement with my employer for relocating employees. This agreement applies buyer-agency to the individual realtor OR the broker firm’s designee if for whatever reason the realtor becomes out of the office/unavailable in the home buying process for extended periods of time (vacation, illness, medical leave, etc) This realtor seemed to only care about getting a commission quickly. Things I noticed: • Immediately tried to steer me to new construction. The new construction homes were crappy enough build quality that I was able to find deal-breaking issues immediately walking in. We no longer considered new construction • Did nothing to actually ident...

Seriously. A 60bps increase in a month? Wtf? We were right in the middle of getting a pre-approval and it's completely flipped our math and assumptions upside down. Affordability wise, it's basically knocked us out of competition for the price/tier of home we had been targeting. On lender we spoke with recommended a type of convertible ARM that could be converted to a conventional loan at some time in the future. I'm going to look more into it but I hate the idea of an adjustable rate mortgage. Whatever the case, I have to imagine other prospective buyers are in the same boat. Is anyone else having to find a way to manage through this? submitted by /u/Shakawakahn [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1s6cihi/md_how_the_hell_is_everyone_managing_these/

So, I’ve been browsing for a while and ended up with 500+ favourited listings in one city across different platforms. Clearly, I can’t just randomly scroll through them all when deciding what to buy. I want to actually funnel them down and make a decision, but I’m not sure the best way to do it. It feels overwhelming, even by just looking at what I have done and what I need to do next. Has anyone here done this efficiently? How do you go from hundreds of saved listings - shortlist - final decision? Any hacks, tools, or frameworks you swear by? Appreciate any advice! submitted by /u/MarionberryTotal2657 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1s649g1/got_500_favorite_listings_saved_how_do_i_actually/

Hi all, I am in the market to buy and I saw an old house (1887) that was recently flipped. The units were nice but the basement was a hot mess. Abestos covered pipes, old janky electrical with wires all over the place, and a huge puddle in the middle of the concrete floor. She is trying to convince me that the water is completely to be expected in old homes but everything I’m seeing online is saying that it means something will eventually need to be fixed. Can anyone give me some guidance? For context, I’m in New England and we had some big snow storms a few months ago that I’m guessing caused this standing water. submitted by /u/Both-Revenue-4557 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1s633nu/agent_trying_to_convince_me_that_water_in/

Hello, I wanted to ask all the realtors here; I plan on building a ground mount system ( if my county approves the permits and what not) on some land near my house. what has been your experience selling a home with solar ( paid off ) or a home with a ground mount system? submitted by /u/Feisty-Journalist497 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1s60ahe/my_home_with_solar_panels_no_loan_no_lease/

I’ll try and keep this short and sweet because I’m not sure what to do. I’m in the process of buying a non-HOA home where there’s a large easement/right of way in the back with power lines running perpendicular to it. Seller put up a brand new fence that goes between the house and ends right under the power lines. Meanwhile, neighboring fences are set back about 15 feet from them. During and right after the negotiation period I explicitly asked all parties about this, didn’t really hear much other than attorneys were working with the seller on making sure it was approved by the easement owner. This went on for weeks, not really much word back. Meanwhile, because I was very skeptical, I read up on the utility’s right of way requirements. I drove around looking at nearby with the same H-frame power lines and saw some with fences extending underneath. Seemed fine. Some friends even said I was being paranoid. Now we’re days past the contingency period still waiting on hearing back fro...

TLDR: Normally for any repair my preference would be to have seller do a credit or to renegotiate the price so I can get the work done myself but I know sewer repairs can get really expensive and it's kind of like opening a can of worms so I'm not sure if it's better to a.) ask to have it repaired or b.) ask for the money and make sure it gets done right. My inspection found a crack near the outside clean out (close to the sidewalk), areas with "moderate-severe offset effects," and an area with root entry. Those findings are here . Background : Buying a 100 year-old home with the original clay sewer pipe. That's normal here. A seller is never going to replace the line just bc it's the original clay service line. My inspector identified the crack on the initial inspection plus a clog, lots of build up, and some tree roots. I asked the seller to have the line jetted and inspected to ensure it's clear and contiguous with no breaks. Seller's pl...

6 unit, built late 80s, 2 br/1.5 bath each, single car garages, all utilities are separate ~$3600 total rent per month(~600ea) $1250 taxes per month $375 insurance per month Property is fully rented, with rents under market, but long term tenants(all 5-20yr+). Rents could be raised 1-200+, but I am sure tenants would not be happy. Overall the unit has not been updated since the late 80s, original dishwashers, toilets/tubs, gas furnaces/heat pumps(only 1 unit replaced in 2020s). The hot water tanks are various years, but mainly 10+ years old. Each unit has a deck that is surviving on various patch work. Windows all single pane, garage door/entry are nothing great. --- At what price point does this building make sense?(Listed in 600k range) I personally would have to pay cash, as it would be highly unlikely I would get a commercial loan(I own no other multi units). Perhaps it only makes sense with a loan, even if it is 6-8%, just for tax purposes/etc? submitted by /u/zefpom...

Mine kept rushing me to make offers just to close before her listing agreement expired. Never felt like she worked for me. What's yours? 🚩 submitted by /u/unsuspectedspectator [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1s4z1ky/what_is_the_biggest_red_flag_youve_seen_from_a/

I’m selling my home and signed a listing agreement with the same realtor I used when I bought the home... she’s friendly and pleasant but I’m starting to feel like she’s not motivated to sell my property or able to communicate effectively. It’s been almost two weeks and we’ve had zero showings. I initially asked for guidance on staging, and was told not to worry and “just so I can take pictures.” I asked if I needed to remove personal items and decor and she said no, that people like to see the home lived in. Some photos have people in the background that could have been easily cropped, a laundry basket with dirty clothes, and lights off. I raised concerns about the photos last night and was told it wasn’t important and wouldn’t change how/if my house sold. I’ve expressed concerns about the listing three times now. The first time I was told “I’ll check on it tomorrow.” The second time, two days after the first and when I received no follow up, I didn’t hear back at all. The third ti...

Hello all. I'm looking for somebody capable of appraising the value of a trailer in a park. I'm well aware of the constraints with it being considered personal property. However, I'm looking for anybody capable of providing me a licensed personal property appraisal to provide my bank in order to get a loan. Any and all ideas or direction are appreciated! I'll even take recommendations for better subs to post this to. My main goal is to find one at least in the state!😅 This has been a very long and drawn-out process, and I have absolutely fallen in love with a trailer, and I take "no" as more of a challenge, unfortunately. Edit: Located in Michigan preferably Southeast area. submitted by /u/PsychCobraa [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1s48ie3/nightmare_appraisal_situation_trailer_in_park/

I’m starting to look into a HELOC and thought the main thing would be finding the best HELOC rates, but the more I read it seems like the lender matters almost as much as the rate. From what I’m seeing, a lot of the comparison sites focus on rates, but once you dig deeper there are a lot of other things that seem to matter too. Things like closing costs, annual fees, draw period, repayment terms, rate caps, and how smooth the application process is. I’m trying to figure out how people are comparing lenders in real life. Some seem to go through their local bank or credit union, while others look at online lenders. I’ve been browsing a few options and even saw names like Achieve come up while researching, but it’s hard to tell from reviews how the process goes once you apply. Right now I’m mainly trying to balance finding the best HELOC rate with choosing a lender that’s easy to work with and transparent about fees and terms. Would be helpful to hear what ended up mattering most to oth...

I've been working with an agent for a few years. Over that time I've put in a several serious offers, with one having gone under contract. During inspection it came up that the roof replacement advertised in listing was unpermitted and shoddily done- but apparently that's common in my area. The house was affordable enough that I probably could have fixed it eventually on my own. My agent said that the issue was a 'deal killer.' They also said that the seller's agent was telling us to terminate as soon as the roof issue came up and insinuated that the house would not be worth the trouble as the seller was hostile. I thought that that meant my agent was great and looking out for me, but now I'm not so sure. I absolutely fell in love with a house a few days ago that is everything I want, in the location I want, and all vintage inside. It's basically untouched since the 70s, which is of course good and bad. The bad is the seller (a trustee) has no informa...

I have suffered from a chronic illness for the past 5+ years and was unemployed. my money came from the stock market, it still does. Because I live in a frugal way, only paying enough for absolute necessities (Rent, utilities, basic needs), my tax returns over the past years aren't wowing. The thing is, in assets (Stocks) I have over 7 figures. For most of these places, I can afford 40 years worth of rent up front. I don't know how else to put it. It's confidence killing, honestly. "Uh... you're unemployed?". That's the response. "This is a very unconventional application". We could literally experience a nuclear war and I'd still never miss a rent payment. Liquidity is not an issue. I have no record, etc. I get it. I understand that it's unconventional, that they have a system to abide by - but there's really nothing else wrong with me? Never missed a rent payment, things like that. I do not want to buy a house because it reduce...

I use Loopnet, but I wonder what I might be missing. Do you have other good places to look? submitted by /u/chewybrian [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1s3b41f/where_do_you_find_commercial_real_estate_listings/

To bring y'all quickly up to speed regarding this situation. I'm selling my home in an area which is still considered a slight seller's market. The home initially got two offers within the first 5 days, but that could've been luck because half of the homes square footage is technically in a heated partially finished walkout basement, so it's not included in the gross living space which makes the home look much smaller for the asking price. There has been a 2 month delay in this closing process, because I had to go through insurance to get the roof replaced after an insane snowfall came through the area and damaged the roof. A bit about the buyer. They initially tried to low ball 10k under asking price but I stood firm so they offered to pay asking price on cash. Later, they decided to change from Cash to FHA loan, claiming he didn't want to pay fees associated with getting the cash. This required him needing an appraisal, to which it ended up coming out 18k un...

(Honolulu, Hawaii) It is understandable for this to come from a condo management association. Source: It is standard for a condo association board to require owners to carry liability insurance, typically ranging from to cover accidents, injuries, or negligence within the unit, often protecting the association from lawsuits. I live in a condo and own two units -- one I'm occupying and one that I was renting to my son. I have ample insurance on both. The association has always been fine with my insurance levels. My son recently moved out and I hired a property manager (unaffiliated with the association) to find me a tenant. The property manager now wants much higher insurance levels that I have. What's going on here? What risk does the property manager incur to his business by my having a lower insurance level? submitted by /u/Markdd8 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1s2sp3p/why_are_property_managers_involved_in_telling/

(Originally posted in r/architects ) I was pushing Gemini’s “architect as developer” knowledge by asking some questions about the logistics of that and how it works. It told me one way to break in is by doing site sourcing and basically using your architectural skills to present packages showing what can be achieved on a lot. Is there a precedent for architects/designers doing site sourcing for developers by presenting feasibility studies of undeveloped land? It also told me that you could put a form of sweat equity into the development project by doing this. I really don’t know much about anything real estate related so I’m wondering what you all have to say about this? From what I gathered in other searches though, it seems like a lot of site sourcing is done with AI now anyway, so what value would a designer bring if you did this? I also don’t get how you’d even approach somebody. “Here’s a pdf with colorful boxes on an Axonometric diagram of this site you don’t own, now pay m...

Without getting too deep in the weeds, my wife and I are torn between two houses. House 1: On a ridge with a view, checks all our boxes though has some small compromises but we would be able to get it around $45k below comps and due to the area we expect it will appreciate very well. It needs a big of updating and due to poor photos and terrible design choices, these small updates could have strong ROI and will appreciate well. We really like the house and it’s a very high quality, 10 years old and will have lower monthly costs. It’s fairly private and only 10 minute commute and you can hit trails within 1 mile (both trail runners) House 2: We love and was love at first time. It checks all the boxes and it felt like home from the first tour. It’s in a good area and will have decent appreciation but not like house 1. It’s a 40 year old house so if has some unknowns with the windows being older, well has a slow flow rate(due to region not well issue) and a few other cost unknowns but ...

We live in Pittsburgh, where water in basements is pretty common. In my case, the back patio seems to be gapping on one side and letting water underneath, which runs into the basement. After a heavy storm, there can be close to a gallon down there. I run a dehumidifier and fans. I'm wondering if it's necessary to try to fix this before selling the house in approximately three months. One contractor, who is unfortunately terrible at responding to texts, came out and proposed a solution which he was fairly sure would solve the problem. He never got back to us with a quote, but considering it involves removing and replacing a roughly 9x9 concrete pad, it would be at least several thousand dollars. Is it better to roll the dice and hope this fixes it, or simply disclose the problem and let the buyer deal with it? EDIT: some people may be thinking that I am considering not disclosing the problem. I'm just asking whether to fix it or not. submitted by /u/fludeball [lin...

Hello everyone, I wanted some insights as to what would comprise of the projects and tasks an intern at the Investment and Asset Management division of a Real estate management firm could be expected to get? I'm assuming it would mostly be financial modeling of various properties and research? If anyone can give insights, it would be great. Thank you! submitted by /u/Dabbbaaa [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1s1g23s/internship_at_a_real_estate_firm_what_are_the_key/

We are planning to move in the next 9 months. Should we list our house now, while we are still living in it? We're probably at least 3 months out from actually being fully prepared to move to our planned destination. We would need to continue living in our house for 2-3 more months after selling, if it sold within the next month. submitted by /u/ebol4anthr4x [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1s1a4lb/usor_planning_to_move_in_the_next_9_months_list/

Questions were facing: Property sold AS IS. Currently put in offer of XXX. Inspection was yesterday and more things have either shown up as not working when they said they were and the electrical was tied in to both knob and tube and a new panel so both boxes are having issues. Can we ask them to take a lower offer now on the pretense we may walk away totally? Purchasing for family member. (Son). No financing. Insurance wanted to label him as a renter if it was titled under us (mom and dad). If we add him to the title does that lower insurance rates? Our current insurance didn’t show that it would but I haven’t shopped for insurance in 25yrs. Anyone have insight on something like that? Multiple little things showed up- window ac not working, 2 broken windows, propane stove top one burner not working, fill valve needed in bathroom sink, HVAC in basement making noise possible bearings or bad motor but not all the time. Are those things considered as-is and do we have any wi...

Got hired as a virtual assistant for a realtor based in Bay Area in the beginning of January. Did the work for him deligently for 2 months. Halfway through March, I get ghosted. Was getting paid every Thursday but didn't for the whole of March. Now I got his personal and business emails logged into my devices cuz yeah I was doing everything, from making logos, drafting contracts, setting up his Google calender, hiring ppl, setting up meets, heck making a meal plan according to his diet and reminding him to water his plants. Now im like should I just log out from his accounts? Tried reaching out a whole week. Kinda sad cuz was counting on the salary to pay off my exams. submitted by /u/dainty57 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1s0pg4d/i_have_the_logins_of_my_employee/

I've asked all the obvious questions: selling process, commission, looked at their contracts, check out reviews. What are the non-obvious things you wish you'd asked in hindsight when choosing an agent? submitted by /u/LookingNotTalking [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1s0nvyi/what_do_you_wished_youd_asked_when_interviewing_a/

I see posts every week here asking which CRM is the best. kvcore, follow up boss, lofty, wise agent. I've used 3 of them in 8 years and I'll tell you the answer is it genuinely does not matter if you don't have a follow up habit. the CRM is a database. it stores contacts and reminds you to do things. that's it. the actual work is doing the thing it reminds you to do. and the reason most agents fail at follow up isn't the tool, it's that they don't have a system for what to say and when to say it. here is what I do. every new lead gets a call within 5 minutes if they're online, or within 2 hours if they came from an open house. after that it's a check in at day 3, day 7, day 21, and then monthly. the content of each check in is specific to their situation not a generic "just checking in!" email. after every call I dictate what we talked about into willow voice and use the transcript when I write the follow-up email. that way I actually re...

My husband and I bought a 1500sq ft ranch during covid. We bought it for around $530k and have a 2.5% interest rate. Its pretty updated, since we’ve moved in we’ve done the following: stained floors, painted kitchen cabinets, redid both bathrooms, added in a small master walk-in closet, closed off den to make a third bedroom, repainted all walls and added moldings etc. Nothing crazy structural but the rooms are pretty big for a ranch. We live in one of the best towns in our state. Its honestly like winning the lottery that we bought this house and pay so little on it, especially since for now I am home with our babies and we are on one income. The issue is its not our forever home. I get slightly self conscious because we’re the only one story house on our street; maybe not the smallest in the neighborhood but compared to my neighbor friends we are. The living room and dining room are all one space and it gets tight especially with kids toys. The kitchen is basically a larger galle...

Family of 3 5/3, 2900 sq ft I owe $255K on the VA loan 2.25% interest rate 25 years left Built 2008 Located in North Jacksonville, FL $1740 monthly mortgage House rented out for 3 years @ $2745/month ($2470 after PM cut) Equity $195K (if sold for $450K) Dilemma: If I keep this house and continue renting out I won't have enough to buy a new house. Reasons for selling: Would free up funds for buying a new home (much smaller as the family has downsized) + extra Don't see the family going back to this house after rental period. Don't really like the area(too far from the city) and far too large for us now. I dumped a lot of money into prior to leaving the state. (new MB flooring, new A/Cs installed) The roof is coming up on its time for replacement(currently 18 years) and the property needs a new sprinkler system. HOA is $750/year, I feel is a bit much for what the community provides Possibility of finding an assumable rate on the market close to the 2% rate ...

I am in no way a realtor; So I looking for an honest assessment. So, The wife wants a condo, and we are not selling the other 2 properties in this economy ( 2.25 & 3.675%) I have a legal plan, I called up a real estate attorney, who also owns a title company; both are covered by the legal plan. Nice Apparently, under the plan and the "2 sides" the attorney can do the Offer letter, document review, promissory note, etc etc; Basically the attorney said under the legal plan, it has enough "yearly cap (there is a max limit, I think 5K?" of legal aid I can get. My concerns are, for one property I was sent over the disclosure that are posted on MLS. They are nice, but these are just regular docs used by realtors in Virginia; So my questions are: Has anyone here gone self represented? If so what was your experience Are realtors discouraged by individuals who use attorneys instead? As I am self represented, I understand the realtor works for the seller not for...

I'm buying a condo from someone I know very well and trust. I'm not using a realtor because I know that would cost a lot of money. I'm getting my real estate lawyer to talk to my friend's lawyer. I also know the lawyer well and the lawyer is going to get a home inspector. Is that all I have to do? Should I double check somehow if the price is good? It seems fair based on my knowledge of the area but I'm not an expert. I don't think my friend would deliberately screw me over but they might not know the market. The HOA is just two people because it was a normal house converted into two condos. submitted by /u/tesseracts [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1rz5ckx/first_time_buyer_need_advice_on_making_sure_the/

Little background, I'm an experienced agent and associate broker for Missouri and Arkansas. Have been listing and selling homes in SWMO/NWAR for a long time. Right now, it feels like we are really in a bind to get houses sold. Homeowners have unrealistic expectations. So many sellers are coming to me and my team and saying "we bought this house in 2020-2022, waived inspections and paid over ask but now there are problems we don't want to fix." Well, guess what? Buyers are picky right now. But this is only one half of the problem. The other problem is financing right now. On the homes we can go straight to market with and list where they should be without major concessions for problems the seller thinks "they shouldn't have to fix" for whatever reason, financing is falling through. At these rates and these valuations, we have just about exhausted the pool of people who could ever qualify to buy these things it feels like. We took a beautiful home, buil...

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

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

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

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

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

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

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

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

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

I have a realtor who I used to buy my home. He also just sold my mom’s home (to which she paid both his commission and buyer agent commission). Now we are closing to purchase my mom’s new home this week. Since the beginning he’s said that the seller will pay both agents commission. At the last minute, my buyer’s agent added his commission to my side of the settlement statement which through me for a shock. Come to find out I never signed a Buyer Representation Agreement or any document agreeing to pay his commission and now he sneakily added to my side bc I’m assuming the seller did not want to pay it. I spoke with the escrow/title officer and she confirmed we can proceed to close without it since there’s no documentation obligating me to pay. My agent is now claiming he will get the seller to lower the price of the home to offset his commission. Has anyone dealt with this? Am I in the clear, or is there anything I should watch out for before signing? submitted by /u/k_ve0 ...

Me and my wife are renting at the moment. We got lucky and got a cheap 2 bed from someone we know. But she’s looking to sell soon and we don’t want to rent anymore. We want to own something that will build equity. We will probably go the condo route. I’m seeing signs that the market is down but I’m clueless with this stuff so I could be wrong. My in laws house price dropped like around 300K from what they would’ve gotten a year ago. We’re also seeing 3 bed, 2 bath, condos in some good areas going for around 300K. Again, I’m clueless when it comes to real estate and market value. So I would just like someone on here that knows what they’re doing to chime in. Can’t figure out if now is the right time to start looking! submitted by /u/yourfavoritepenguin7 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1rwe6f0/is_the_market_down_right_now_long_island_ny/

Question. I don’t have a realtor right now. We’re like one day into the process and peeking at a couple homes. If I have a seller’s agent show me a home, and then decide I’m in over my head and get myself an agent, and then decide I want to buy the home someone else’s agent showed me, will that be an issue between my agents? There was an agent I called that was pretty prickly about it and we ended up not seeing the house bc she was a little overwhelming, but we don’t at this time have an agent or really definite plans to get one. Just want to know if the sellers agent can idk make you sign something if they show you the house? (They didn’t at the only one we saw so far). submitted by /u/medschoolquestion18 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1rwa6gp/no_realtor/

I’m making this post as an overreaction to my life’s current situation. But my marriage isn’t in a very healthy state and if marriage counseling doesn’t help my wife and I get back on track we are seemingly headed for a divorce. About 3 years ago we / mainly me bought the house we’re currently living in. It’s a great town in a great school district great everything. If my wife were to move out I truly don’t think it really be messy divorce since we both just coming to the realization that maybe we shouldn’t have gotten married when we did (we don’t hate each other at all). I think again I’m not believing this I’m just thinking best case scenarios that I would have to buy her out of a small potion and give her a car( we own two ones payed off). I don’t want to sell this house as I got a decent deal on it for this area. My main question of rambling racing thoughts is, to anyone who’s been in a similar situation. If you kept the house did you rent the entire house out to help keep payi...

This weekend did not go well and we barely got anything done. Some rooms vaguely approach level of "good enough for some mover to eventually come in and throw the rest ina storage unit" but others have remained untouched. At this point my last question is - can I send a strongly worded email to the real estate people working allegedly on my mom's behalf about how extremely unhelpful they have been? They will send her emails with lawyer jargon about liens from 40 years ago and expect her to know what the fuck they're talking about. They made no effort to contact family members like me who could have been made aware of this much earlier. They didn't realize that asking a single older woman to empty her house alone is ridiculous and should have considered negotiating sellign the house "as is." Various other shortfalls on their part. I want to send this email because my mom has basically shut down. I just don't want there to be any consequences on her ...

Hey everyone. I'm listing my house on April 15 and before I sign the contract I wanted to make sure this process is largely normal. I contact a few a few months ago and had an initial review of the house and landed on one that seemed to be the most experienced. He said based on comps at the time it would be good to go to list around 449k but i should probably expect to get around 430k for it. We'd revisit in March. Outside of that, he told me a few things to fix up and I did so. We are in march now and he came over again for the updated listing with plans to take pics and sign contracts on the 30th for a mid-April launch. When he arrived he said appraisals for my specific house are only going for around 430k, so we should just list it for that to make things smoother. That's what I went in expecting, but it seems like it would be a good idea to have a little wiggle room there for concessions and stuff? He said most agents are going to go in knowing what it appraises for...

Our house has been listed for 22 days. We have showed it 11 times. We are letting buyers know close date will be June 1st. We have received one offer which was the very first showing and $75k under listing price so we declined. I thinks it’s the yard and my trashy neighbor. We also have cats and a dog but they are clean and I pick up the poop outside and clean boxes before we show the house. Nobody has ever told me they smell cats in my house. Our yard is on a hill, it has a nice outlook to a ravine in the back but you can’t really go out there and play sports or use the yard much except for campfires and barbecuing. We have hot tub and it’s great for adults I think. We also had some trees cut down and the debris is still in the yard and the old fence is still there and could be removed because it’s broken. Our road is narrow and windy so people zoom down it and it’s not safe for kids riding bikes. And then you have my damn neighbor who is so freaking trashy that there is an old in...

It seems when I shop around for both, they always have ideas for who I should on the other end. Do you recommend it’s better to keep both separate? If it’s better they do work better together, do you recommend nailing down a good lender or realtor first? submitted by /u/stangg [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1rudwtn/would_you_rather_use_a_realtor_recommended_by/

$4M across deals and direct multifamily properties. Finding deals isn't my problem anymore, it's tracking what I already own. GPs send quarterly reports but they're all formatted differently (some PDF only), timing is all over the place, and I end up with this folder of random documents with no clean way to see actual portfolio performance in one view. Can't tell you my total cash on cash return right now without spending an afternoon in excel, which defeats the point of passive investing. Hired a part time bookkeeper to organize it but she just files documents, doesn't do analysis. I need to see which deals are beating their proforma, where cash flow is trending, how each property stacks up against market benchmarks... stuff that would need a full time analyst to build out manually. What are you guys doing here? I keep hearing some AI tools already provide portfolio tracking software for LPs, but sounds like their dreams that what AI actually does Everything I f...

I'm relocating to Los Angeles and trying to get feedback from LLs/property managers on how my rental application would be viewed. $1500 to $1700 target rent Newly self-employed content creator/actor CPA letter showing current annualized income of $68,800 790 credit score $26k cash reserves $18k in signed client contracts Landlord recommendation letter My income is project based, so my bank deposits are irregular. For example, I will have deposits in March but none in April. Are the irregular deposits a deal breaker? Any way to strengthen my profile? Thanks in advance. submitted by /u/timdavid [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1rthyrr/tenant_usca_how_would_you_view_my_applicant/