Home Buying & Real Estate Thread

[keel252]

Don't wanna sound like a **** but i told her not to rent it out to college kids. Bc they usually don't care about or value stuff(I know that might sound dumb) but rent it out to somebody who's got they crap together.

 

[crcballer55]

Don't wanna sound like a **** but i told her not to rent it out to college kids. Bc they usually don't care about or value stuff(I know that might sound dumb) but rent it out to somebody who's got they crap together.

Definitely! Plus, after 10 months, they'll bail and want to get out of their lease early. Would be a HUGE headache to try to collect the last 2 months rent, not to mention you're GUARANTEED turnover every year which means you'll have to replace the carpet, and whatever else comes with it.

There are multiple factors to consider. For one, what have prices done? What's the market outlook? What state/city is it in? How are the eviction laws should the tenants not pay or you need to move them out?

1. The market price has not moved yet bc this being such a new area.

2. Durham, NC and trying to move back to Raleigh.

3. No clue about that info.

Best to find out the landlord rights before even considering renting. I don't think MC is too bad, but some areas have certain statutes that are way too heavily in favor of tenants (word to the whole state of New Jersey, Chicago & California)

 

[monstar]

nah, i grew up in the city most of my life, lived all over San Francisco (Tenderlion, Vis Valley, Richmond, Sunset) . My girls from Oakland and i have friends that from Oakland.  Buying a house didn't even crossed my mind last year but i was just curious and was snooping around zillow and other real estate website, but when i started seeing brick home from sunnydale project going on the market for 500k, i told myself i gotta move out of the city, its getting crazy expensive here and there to many hipster out here now. It not the City i grown up to know... it changed alot.

Your right there pockets of good neighborhood in Oakland, If you looked at the map of Oakland and S.F side to side, Oakland goes pass SFO ...I will just stay toward the 580 side of the town  if your planning to buy a crib in East Oakland, but if you have money North and West Oakland the hot spot right now, East Oakland going along slowly because it the biggest of of those 3.

--i gotta say since living here in the Town, i starting to believe the media just give Oakland alot of bad rap...

The last statement is very true, if you dont go looking for trouble it wont find you

im thinking of making that move myself but would really have to be the right setup

 

[nakamori]

Just reposting from the Bachelor Pad thread 

Just signed a contract to purchase this studio in the Soma/Mission Bay area in the city.  The previous owner was a lady and the property has a softer pastel wall paint scheme going on.  It's a real nice paint job so I'm not really inclined to paint over it but I wanted to get some input as to how I should make this look more masculine with the furniture.

Pics:

The kitchen and bathroom are gucci though - don't think I need to worry about them

This building has a Miami sort of design going with Palm Trees and all that and I think this unit has colors somewhat compatible with that theme... Was thinking to try to go for a sort of South Beach Hotel look kind of like below?  What do you guys think? What sort of design elements could I use? Like Greek patterns, etc?

Etc. etc. etc.  I think this might be tough to pull off since I don't have the greatest interior design chops... 

 

You guys are right though, San Francisco real estate prices right now 

 

 

[ihatemyshoes]

^^ Since owning a home, I've been hooked on HGTV ...and hitting up Home Depot like every weekend ...LOL

 

[HEATHEN]

Forgot to mention that our HOA fees go towards community BBQs, neighborhood parties (wine/cheese nights), movie nights, etc....

Compared to my old neighborhood, it's night and day. I don't mind what I'm paying because so far, it seems well worth it.

As far as the racial makeup of a certain community, you'd be best served doing your research on EVERYTHING before signing the papers to buy a home. Look up schools, test scores, median income, foreclosures, comps, etc. All those factors should weigh heavy on your decision. All of those things I mentioned play a part in the appeal to different demographics.

My #1 reason for buying where I did were the public schools. Our neighborhood school is nothing short of fantastic. We place a high priority on our daughter's education.

Good info bro, I appreciate it.

 

[HEATHEN]

^^ Since owning a home, I've been hooked on HGTV ...and hitting up Home Depot like every weekend ...LOL

HGTV is my **** bro. I enter their sweepstakes religiously. TV stay on HGTV.

 

[jjs07]

^^ Since owning a home, I've been hooked on HGTV ...and hitting up Home Depot like every weekend ...LOL

HGTV is my ****! You can really learn a lot about home maintenance, buying, selling, etc. from the network. If you can get past some of the fluff, there is a lot of GREAT information that you can gather.

Forgot to mention that our HOA fees go towards community BBQs, neighborhood parties (wine/cheese nights), movie nights, etc....

Compared to my old neighborhood, it's night and day. I don't mind what I'm paying because so far, it seems well worth it.

As far as the racial makeup of a certain community, you'd be best served doing your research on EVERYTHING before signing the papers to buy a home. Look up schools, test scores, median income, foreclosures, comps, etc. All those factors should weigh heavy on your decision. All of those things I mentioned play a part in the appeal to different demographics.

My #1 reason for buying where I did were the public schools. Our neighborhood school is nothing short of fantastic. We place a high priority on our daughter's education.

Good info bro, I appreciate it.

No prob....forgot to mention the HOA dues take care of snow removal and trash pickup.

 

[keel252]

HGTV stays on my tv too....i love House Hunters man. god thats my joint.

 

[crcballer55]

HGTV stays on my tv too....i love House Hunters man. god thats my joint.

Don't think it's anything remotely like real house hunting though. HIGHLY scripted!

 

[dam itz lou]

House Hunters international

Property brothers is cool too.

 

[keel252]

Don't think it's anything remotely like real house hunting though. HIGHLY scripted!

Oh without a doubt. I just love the different cities, and how the agents purposely disrespect the customers.


They will be looking for a 3 bedroom ranch style with a budget of 215k and in the suburbs. The agent will show them a 2 bedroom condo, downtown for 385k.

 

[HEATHEN]

HGTV stays on my tv too....i love House Hunters man. god thats my joint.

House Hunters,
Property Bros,
Love it or List it

and

Rehab Addict.



Nicole Curtis tho .

 

[HEATHEN]

Don't think it's anything remotely like real house hunting though. HIGHLY scripted!

errthang scripted on HGTV. **** it.


Lot of good knowledge to soak up.

 

[suburbanguy]

Closed on this home back in late august. After living in Uptown Charlotte for a number of years, decided that I wanted a home on Lake Wylie...about 11 miles from center city. Dealing with BS from senior directors at my office for a number of years, I pull up to the garage M-F after leaving the office and a smile breaks out every single Time! No matter what BS I've had to deal with at work from clients.

If this hasn't been offered up in this thread yet, buying your first home will be the Hardest thing you'll ever have to do concerning finances, prepping for the future. I was stressed out for almost a year because my original plans was to build a home, but we terminated that contract and found this gem. All I can say is that having loan officers and compliance officers go thru your entire life history isn't the most fun thing in the world, but it's all worth it in the end.

Built in 1997. Almost 3000 sq/ft. 4bed 2.5bath w/ bonus room. Cuddlesac. Wooded lots. Neighborhood boating dock slips. G.

 

[nooera]

Looks really, really nice fam . Congratulations

 

[bale]

avoid places with a HOA if it's possible unless you work in real estate, law or construction.  if you've just gotta do it then learn as much as possible about that particular HOA and any property management companies on board.   these are your co owners.  again, if you're already in real estate, law, or have good relations with construction people then at least you're  prepared for when things go bad cause they eventually will.

 

[dam itz lou]

My fico scores are EQ 706 TU 715 EXP 685. I'm getting ready to go apply for mortgage in the spring.

I just took a look at my TU report and I have $41k available with my credit utilization being 10%,10 new accounts, and 8 recent inquiries. I have a paid tax lien for $600 from a couple of years ago that's scheduled to come off next year in October. I'm going to pay everything I owe before I go apply.

How much are the inquiries, new accounts, and tax lien going to hurt me when I go apply for a mortgage ? I took advantage a lot of cards with large sign up bonuses so it's not like i'm going out and spending it on things I don't need. Would closing some of them help ? I have 14 total accounts open. Most of the cards have a $0 balance accept for 2 or 3.

 

[951guero]

Would you recommend going through lender or a bank for a loan?
I was at Chase bank yesterday and they told me some really good information; I like the idea of ping through a bank because there is no middle man
What are your thoughts? (Looking to buy a condo)

 

[crcballer55]

My fico scores are EQ 706 TU 715 EXP 685. I'm getting ready to go apply for mortgage in the spring.

I just took a look at my TU report and I have $41k available with my credit utilization being 10%,10 new accounts, and 8 recent inquiries. I have a paid tax lien for $600 from a couple of years ago that's scheduled to come off next year in October. I'm going to pay everything I owe before I go apply.

How much are the inquiries, new accounts, and tax lien going to hurt me when I go apply for a mortgage ? I took advantage a lot of cards with large sign up bonuses so it's not like i'm going out and spending it on things I don't need. Would closing some of them help ? I have 14 total accounts open. Most of the cards have a $0 balance accept for 2 or 3.

Yes, definitely close some of those. Think like a lender for a second. While you don't have a lot of debt at the moment, you have the opportunity to do so in the future with so many different lines open. Keep no more than 5 open (preferably the oldest).

Would you recommend going through lender or a bank for a loan?
I was at Chase bank yesterday and they told me some really good information; I like the idea of ping through a bank because there is no middle man
What are your thoughts? (Looking to buy a condo)

First of all... JUST STAY AWAY FROM CHASE. I had to deal with them daily for several years, and will NEVER voluntarily do business with than. Thank goodness my refi went through so they are no longer in my life.

Second, there's not really a difference between having your loan with the bank you're already at other than maybe making the rate a bit more competitive. But since Chase is one of the largest lenders out there, their rates aren't that great anyways from my experience.

Third... I'm not sure what you mean "lender vs. bank". If you're talking about like a Lending Tree, then there are pros and cons to each business model. Personally, for a purchase, the most important factors are: Rate, fees, & ability to close on time. If the lender can't close the loan within the escrow period stipulated in purchase agreement with the seller, you may be on the hook for penalties from the seller and possible fees to extend the lock after the initial 30 day period. That is probably the most important question to ask because everything else will be disclosed in the HUD-1.

 

[swagboss]

In the process of trying to find a nice rental income property

 

[Kaleo15]

Closed on this home back in late august. After living in Uptown Charlotte for a number of years, decided that I wanted a home on Lake Wylie...about 11 miles from center city. Dealing with BS from senior directors at my office for a number of years, I pull up to the garage M-F after leaving the office and a smile breaks out every single Time! No matter what BS I've had to deal with at work from clients.

If this hasn't been offered up in this thread yet, buying your first home will be the Hardest thing you'll ever have to do concerning finances, prepping for the future. I was stressed out for almost a year because my original plans was to build a home, but we terminated that contract and found this gem. All I can say is that having loan officers and compliance officers go thru your entire life history isn't the most fun thing in the world, but it's all worth it in the end.

Built in 1997. Almost 3000 sq/ft. 4bed 2.5bath w/ bonus room. Cuddlesac. Wooded lots. Neighborhood boating dock slips. G.

You got any pics of the interior?

 

[dam itz lou]

Yes, definitely close some of those. Think like a lender for a second. While you don't have a lot of debt at the moment, you have the opportunity to do so in the future with so many different lines open. Keep no more than 5 open (preferably the oldest).

First of all... JUST STAY AWAY FROM CHASE. I had to deal with them daily for several years, and will NEVER voluntarily do business with than. Thank goodness my refi went through so they are no longer in my life.

Second, there's not really a difference between having your loan with the bank you're already at other than maybe making the rate a bit more competitive. But since Chase is one of the largest lenders out there, their rates aren't that great anyways from my experience.

Third... I'm not sure what you mean "lender vs. bank". If you're talking about like a Lending Tree, then there are pros and cons to each business model. Personally, for a purchase, the most important factors are: Rate, fees, & ability to close on time. If the lender can't close the loan within the escrow period stipulated in purchase agreement with the seller, you may be on the hook for penalties from the seller and possible fees to extend the lock after the initial 30 day period. That is probably the most important question to ask because everything else will be disclosed in the HUD-1.

I guess i just have to bite the bullet. Most of the accounts I want to close are my older ones. They were the only companies that would give me credit at the time but really have no use for them now. Thanks

 

[crcballer55]

 

Yes, definitely close some of those. Think like a lender for a second. While you don't have a lot of debt at the moment, you have the opportunity to do so in the future with so many different lines open. Keep no more than 5 open (preferably the oldest).

First of all... JUST STAY AWAY FROM CHASE. I had to deal with them daily for several years, and will NEVER voluntarily do business with than. Thank goodness my refi went through so they are no longer in my life.

Second, there's not really a difference between having your loan with the bank you're already at other than maybe making the rate a bit more competitive. But since Chase is one of the largest lenders out there, their rates aren't that great anyways from my experience.

Third... I'm not sure what you mean "lender vs. bank". If you're talking about like a Lending Tree, then there are pros and cons to each business model. Personally, for a purchase, the most important factors are: Rate, fees, & ability to close on time. If the lender can't close the loan within the escrow period stipulated in purchase agreement with the seller, you may be on the hook for penalties from the seller and possible fees to extend the lock after the initial 30 day period. That is probably the most important question to ask because everything else will be disclosed in the HUD-1.

I guess i just have to bite the bullet. Most of the accounts I want to close are my older ones. They were the only companies that would give me credit at the time but really have no use for them now. Thanks

What most people don't tell you (or realize) is that opened accounts also have the potential for identity theft too, which is a HUGE hassle and can cost more time and effort than the extra couple points on your credit score are worth.

 

[suburbanguy]

You got any pics of the interior?

Yea man. I have a few of the first floor that I took a few weeks back. Still a few things we wanna do downstairs, but all in all we're happy with the changes so far. Those built-ins were 1st priority when we closed, had to have an office with that setup since there's no basement...