Home Buying & Real Estate Thread

[B Sox]

I've used it on a couple flips already and I've had nothing but great responses from buyers and agents. I just like the look of it because it looks like marble and it's inexpensive.

I'm seeing it a little more in flips here in MD than I had in the past. One rehabber used it as the flooring in a large kitchen and it was bit overwhelming, and off-putting to me. Doesn't look bad as shower tile though.

 

[ekrev98]

I'm seeing it a little more in flips here in MD than I had in the past. One rehabber used it as the flooring in a large kitchen and it was bit overwhelming, and off-putting to me. Doesn't look bad as shower tile though.

I've used it as floor tile in a bathroom and it turned out good. I don't think i'd ever use it as kitchen tile tho. I just prefer continuity when it comes to kitchen floors so i always do laminate or wood throughout the house.

 

[stork]

Interesting podcast series I've been listening to on LA RE investors, gentrification etc..

ep on flippers:
http://www.wnyc.org/story/they-want-my-house

 

[B Sox]

I've used it as floor tile in a bathroom and it turned out good. I don't think i'd ever use it as kitchen tile tho. I just prefer continuity when it comes to kitchen floors so i always do laminate or wood throughout the house.

Yeah that doesn't look bad at all. I HATE when people use different flooring for the kitchen, unless there was an issue with the subfloor or something like that where it's necessary to do so. Engineered hardwoods or whatever people choose throughout the main level is always the better look. The continuity makes rooms look larger too.

 

[edshoecator]

Interesting podcast series I've been listening to on LA RE investors, gentrification etc..

ep on flippers:
http://www.wnyc.org/story/they-want-my-house

I’m in West Adams so I know the feeling.

The owner in me is like “bring more white folks.”

A house just closed a couple months back (white buyers) and my home went up 20k according to Zillow and red fin.

I get tempted to sell but nothing’s affordable in l.a. anymore.

The renters on my block that have been there for years have no pride in ownership ( leaving trash on curbs, parking like *******s, fixing cars on the street, blocking and parking in our driveways) so part of me is like ehh, raise the rent, but I could be in that predicament of having to rent.

 

[stork]

The renters on my block that have been there for years have no pride in ownership ( leaving trash on curbs, parking like *******s, fixing cars on the street, blocking and parking in our driveways) so part of me is like ehh, raise the rent, but I could be in that predicament of having to rent.

Yeah, I'm in a apartment in Santa Ana and a lot of these families leave the front door open 24/7 because their too cheap or lazy to buy a portable A/C unit

stuff like that along with the things you mentioned, the low - mid end renters can sometimes be an undesirable class of tenant. I fully support gentrification as a way to improve communities. I've met too many people all over that have been renting for 25+ years, the mental prison of complacency.

 

[edshoecator]

Yeah, I'm in a apartment in Santa Ana and a lot of these families leave the front door open 24/7 because their too cheap or lazy to buy a portable A/C unit

stuff like that along with the things you mentioned, the low - mid end renters can sometimes be an undesirable class of tenant. I fully support gentrification as a way to improve communities. I've met too many people all over that have been renting for 25+ years, the mental prison of complacency.

Agree. I get a lot of “hate” because of my stance but I’m paying property taxes and none of them work. I would like to park in front of my property without rushing home on a break after street sweeping.

I leave a trash can on the sidewalk and trash still on the street.

 

[dam itz lou]

Anyone renovate their kitchen with Ikea ? Thoughts ?

 

[slicknick951]

I actually was looking into it and according to the reviews ive read is that they cheap out on the part in the back. They use the foldable board they use for everything and for a caninet thats what holds everything together.

 

[edshoecator]

Try cliqstudios, or a custom cabinet maker...It evens out when you take into account the material being used.

 

[dam itz lou]

Yeah, I'm in a apartment in Santa Ana and a lot of these families leave the front door open 24/7 because their too cheap or lazy to buy a portable A/C unit

stuff like that along with the things you mentioned, the low - mid end renters can sometimes be an undesirable class of tenant. I fully support gentrification as a way to improve communities. I've met too many people all over that have been renting for 25+ years, the mental prison of complacency.

FACTS! The people who live next door to me have been renting the house for a long time and pay below market rent. They will mow the grass every once in a while. They have weeds growing out of the concrete that they dont take care of. I caught their dog taking a dump on the grass in front of my house on my camera and no one cleaned it up. I looked up the owner of the house and they live in a rich suburb of Chicago. They seem to try and take care of any issues with the house themselves. I'm sure too many calls to the landlord and they'd jack up their rent. The people across the street throwing party's/BBQs out of their garage in the driveway/sidewalk and blasting music to the point I can hear it in my house with the TV on. His wife always has the balcony door open during the day. She's always yelling at her kids, one day she was giving her kid a beating and everyone on the block can hear the yelling and loud cries. A lot of landlords just rent to anyone who can pay the rent. Thank god winter is almost here. I can't wait to move.

 

[slicknick951]

Didnt you just buy the house? What are your plans rent it out and buy something else?

 

[dam itz lou]

We bought it last October, but yeah that is the plan. If we can afford something in this area, but on a different block we’d consider staying. We’ve been doing little things here and there to improve the place and we’re about to do the kitchen. It should give us a nice boost for rental income when the time comes.

 

[edshoecator]

Any site out there that will give me rates for more than one bank (refi)?

Instead of applying to 1 at a time...

And any experience with quicken rocket?

 

[lazyj10]

doesn't bankrate.com have a feature where you can compare across? Obviously contingent on when you go through the process with a lender for the final APR...

 

[edshoecator]

Is it like lending tree?

 

[monstar]

To my bay area heads who have bought a home. HAve any done it solo and if so what percentage of your pay is going to mortgage with these crazy prices?

 

[lazyj10]

Based on my take home (not gross) about 1/3 of my pay goes to just my mortgage.

I got in with a purchase in 2010 though, so my basis is incredibly low relative to where we're at now.

 

[lazyj10]

Is it like lending tree?

Sorry I didn't see this when you replied. I'm not sure what lending tree is, but it's basically a site that'll aggregate lenders in your area based on certain criteria. From there, you can filter down and reach out to some to verify you meet their criteria in getting the APR/rate they post. I've used it to compare to a broker I used before to ensure I'm in line with the broader market.

 

[chino905]

First time home buyer here. quick question. Has anyone ever experienced a situation where the contract has been signed by both parties, but when the appraisal is done from the bank, it comes in lower than the purchase price. what options are there for the buyer at that point? a contingency would have needed to be done in the contract to financially protect them and for them to get their deposit back from escrow, right?

 

[louytromps]

First time home buyer here. quick question. Has anyone ever experienced a situation where the contract has been signed by both parties, but when the appraisal is done from the bank, it comes in lower than the purchase price. what options are there for the buyer at that point? a contingency would have needed to be done in the contract to financially protect them and for them to get their deposit back from escrow, right?

Happened to me. Asking price was $220K, appraisal was $190K. Seller agreed to sell the home for $200K so I came out of pocket $10K.

This happens on the majority of deals here in Miami.

If your realtor knows what they are doing all offers sent should have a contingency of sale price is subject to appraisal.

 

[townbidness]

If you dont have a contigency. You can try get more comparables around the area and get the apprasail reviewed again. Hopefully it comes out higher. I took the contigency off, had to pay 8k difference.

Really got no option here in the bay, everyone takes it off and offer way over.

 

[chino905]

thanks. the issue with me going up in price if the appraisal comes in low is that i'm in nyc, so i don't have as much wiggle to come up if needed. i guess it would be best for me to add in the contingency in the contract before signing, and hope that the sellers go down in price if the appraisal comes in lower.

 

[smokey13]

So since the last time I posted, we closed on the new place mid Oct. and sold our old house(Daly City) It’s been an insane month and a half. We were all packed and ready to go so moving was a breeze.

The week after we moved, I met with contractors and vendors to get the house ready to sell. It took about anothe week to get all the work done and we had the house listed last Friday. We decided to do 2 weekends of open houses and set a offer due date for today.

First weekend we had about 60 parties come through. The night after the second Saturday showing, we received an offer that expired the next day at 11am. My agent made calls to all the parties who asked for disclosures. We received another offer after that was $25K higher than the first offer. It was $150K over asking, all cash with a 4 day close. We closed today. It was real nice not deal with a 30 day close.

 

[a55a5in11]

I’m in West Adams so I know the feeling.

The owner in me is like “bring more white folks.”

A house just closed a couple months back (white buyers) and my home went up 20k according to Zillow and red fin.

I get tempted to sell but nothing’s affordable in l.a. anymore.

The renters on my block that have been there for years have no pride in ownership ( leaving trash on curbs, parking like *******s, fixing cars on the street, blocking and parking in our driveways) so part of me is like ehh, raise the rent, but I could be in that predicament of having to rent.

Increased home values isn't necessarily a good thing