Yesterday, the landlord texted us to let us know he’ll be selling the house, and after inquiring how much he’s listing it for, he said he would be interested in selling it to us. He also shared looking to sell asap. We’ve been renting this house for about 1.5 year and generally happy with the house and location. We’re also considering starting house search in the spring, so while we weren’t expecting to have to make the decision so soon, it is on the horizon. Incidentally, we already have a realtor and a potential lender we found a few months ago due to an unrelated situation. But, this would be our first house, and this is all happening very fast, so I’m looking for some advice/guidance and any helpful feedback: The one lender we reached out to previously was recommended by the realtor, so they already have a working relationship. We’ve also already been preapproved with her so we should be ready to go. That being said, I’m wondering if we should still explore other lenders to co...

So I have properties in TX and I stay in Texas. Now if I move to another state, lets call it Illinois, how does depreciation work. Ilinios has a state tax. So does texas property help to reduce state tax or only federal tax? submitted by /u/Leather-Wheel1115 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1xorfqv/properties_in_multiple_states_depreciation/

I think I already know the answer ... but I wanted to hear the opinion of others. The situation is this: We found a home that we really like on a larger lot. The builder is top-quality. We found the proposed build through Redfin/Zillow. We did not use a Realtor. The builder is asking if we have our own Realtor, as they will pay them a commission. I am unsure if the builder will discount if we do not use a Realtor. We should really have someone representing us during this build ... shouldn't we? Our last new construction home did not involve a Realtor ... we represented ourselves and everything worked out well. I appreciate all advice regarding this matter. Thank you ... submitted by /u/dudreddit [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1xonua3/buying_new_build_outofstate_should_i_get_a_realtor/

Location: South Okanagan, British Columbia, Canada. Home: 2 bedroom unit in a fourplex, 1977 build, new appliances/heat pump/paint/flooring. Situation: I had to move out of province for family reasons late in the Spring. But pretty much right when I was ready to move and list back then we had a dishwasher related incident that resulted in a claim. They later found asbestos in the linoleum, popcorn ceiling, and drywall joint compound. So between the localized asbestos remediation and the glacial pace of insurance to approve everything, it took until very late September to actually clean the entire place out and have it vacated and ready for showings. I signed the contract and got the home listed October 2. It is a 6 month contract and expires April 2. I picked my realtor because they are local, they had high reviews, I liked their discourse and attitude, and they are one of the higher performing realtors in the town we were in. I'm becoming a little less than pleased due to lack ...

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

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

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

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

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

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

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

When selling a property, you dont add the sale price to your overall income to see if you fall within the 15% or 20% capital gains bracket, correct? My CPA said we fall into the 20% with the sale of the property, but the spouse and I are about 300k to 325k gross this year. The bracket for 20% would require us to make $288k more, but the profit made off the sale is only $170k. (After factoring in purchase price, improvements, depreciation, sale price and closing costs). However if you took the sale price and added it to our income, then yes, it would. But I dont think thats how it works? submitted by /u/ManonFire1213 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1xl3opi/rental_property_sale_taxes/

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

Curious to hear your professional experiences with land agencies submitted by /u/truecakesnake [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1xkblzo/what_are_the_best_land_acquisition_firms_for_bess/

Like literally a starter home is 850k to 1.5 m whos buying or can afford this ? submitted by /u/we-could-be-heros [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1xjxn6k/whos_buying_at_these_prices/

We are very quickly if not already outgrowing our home. 4 kids, 1 primary upstairs bath. There is technically a “full” bath in the basement but it’s a shower only with a toilet and sink and I honestly pretend it doesn’t exist because it’s gross. We have 3 beds which doesn’t bother me, but we have no playroom as our basement isn’t updated / finished, and no office space. We also have the smallest backyard. I want to upgrade but we bought a fixer upper and can’t afford a better home unless it’s another fixer uppper. We have come a long way in the 4 years we’ve been here but there’s still an endless amount of projects before I feel comfortable selling. I want out though because it’s tight and cramped in here! How did you know it was time to sell your house and get a bigger one? Did you wait until yours felt complete or you could get a good value for it? submitted by /u/solidarity_sister [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1xjg9aj/w...

We’re about 18 months away from putting our house on the market and trying to figure out where it actually makes sense to spend money. I keep getting conflicting advice on things like the roof, windows, and siding. Some people say a new roof barely adds any resale value, while others say buyers will immediately lose interest if the existing roof looks old. Is there any solid data on which exterior upgrades tend to have the best return when selling, or does it depend too much on the market and the condition of the house? submitted by /u/truecakesnake [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1xjec68/which_exterior_upgrades_are_actually_worth_doing/

I know that the housing market slowed down due to the interest rates increasing, but is anyone hearing about potential buyers waiting out until after the election to understand the coming market a bit better? I’m wondering if people are waiting out the uncertainty to adjust their offers accordingly. Does anyone have predictions they would like to share or care to share what they are hearing from others (other’s mindset) on the subject? submitted by /u/HealthWealthFoodie [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1xiozvt/anticipated_changes_in_the_market_after_the/

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

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