Home Buying & Real Estate Thread

[pdino]

I've never calculated based on square feet.. I suggest looking at tons of places within your price range to get an idea. Square footage is a factor, but not THE factor.

 

[keko jones]

I've never calculated based on square feet.. I suggest looking at tons of places within your price range to get an idea. Square footage is a factor, but not THE factor.

Well I'm mostly taking high end where houses are millions of dollars not 500k r so.

I'm just wondering if these dudes are really that quick with the calculation or is it an exciting gimmick .... Example when Fredrick gets a new development dude is super quick with the numbers. He knows what's the going rate for the neighborhood, he knows what's the price per sqft the developer is asking for and he knows what's the amount per sqft they should be our at least agree on in a matter of seconds.

 

[capital sb]

Well I'm mostly taking high end where houses are millions of dollars not 500k r so.

I'm just wondering if these dudes are really that quick with the calculation or is it an exciting gimmick .... Example when Fredrick gets a new development dude is super quick with the numbers. He knows what's the going rate for the neighborhood, he knows what's the price per sqft the developer is asking for and he knows what's the amount per sqft they should be our at least agree on in a matter of seconds.

They are really active in those markets, so they know what size houses should be going for what.

 

[keko jones]

They are really active in those markets, so they know what size houses should be going for what.

I don't think I'm asking the right question. I do understand they know what are the current rates, trends, comps, etc.

What I'm asking is the actual math ... Like for example if you come to my house and you already know that I should be listing it for 7 million and that 1650 a sqft and I come out and say I want 9 million, the show makes it seem like they did the math on the spot and they'll reply with no, thats 2100 a sqft. That's to high.

Like I can do the math, but not as fast on my head .

 

[HankHill]

They are really active in those markets, so they know what size houses should be going for what.

I don't think I'm asking the right question. I do understand they know what are the current rates, trends, comps, etc.

What I'm asking is the actual math ... Like for example if you come to my house and you already know that I should be listing it for 7 million and that 1650 a sqft and I come out and say I want 9 million, the show makes it seem like they did the math on the spot and they'll reply with no, thats 2100 a sqft. That's to high.

Like I can do the math, but not as fast on my head .

Its a tv show man. Its all scripted don't worry about it

 

[keko jones]

Its a tv show man. Its all scripted don't worry about it

That's what I want to know ....

Or do these high end agents get so good that they are able to calculate that quick.

I'm curious that's all!

 

[capital sb]

That's what I want to know ....

Or do these high end agents get so good that they are able to calculate that quick.

I'm curious that's all!

Bro it's tv lol

 

[plansb]

They probably have dealt with many properties that have similar sizes and prices - so I'm sure they eventually get a ballpark feel for what is how much /sq ft.

And it's not that hard to do that arithmetic in your head if you know the tricks to do it.

 

[keko jones]

They probably have dealt with many properties that have similar sizes and prices - so I'm sure they eventually get a ballpark feel for what is how much /sq ft.

And it's not that hard to do that arithmetic in your head if you know the tricks to do it.

what are does tricks?

 

[plansb]

https://www.google.com/search?q=ari...80j0j4&sourceid=chrome-mobile&espv=1&ie=UTF-8

I have always been able to do fairly tough arithmetic in my head and eventually you learn these kinds of tricks or other little tricks that work for you. I have always loved numbers and math.

 

[crcballer55]

 

Its a tv show man. Its all scripted don't worry about it

That's what I want to know ....

Or do these high end agents get so good that they are able to calculate that quick.

I'm curious that's all!

Don't believe ANYTHING you see on those Real Estate shows. Yes, the Million Dollar agents are actually successful, but there are also many items within a transaction that are cut out. Believe it or not, 90% of a Real Estate transaction is mind numbingly boring.

Typically before an agent shows a home though, they'll print out an MLS sheet or comps of similar properties with all of the details including price per square foot.

 

[capital sb]

Once you rate lock can you lock again if rates go lower? Rates just dropped to 3.625% and I locked at 3.75%

Honestly shocked to see them drop again I locked 2 weeks ago.

 

[benny bugatti]

 
Once you rate lock can you lock again if rates go lower? Rates just dropped to 3.625% and I locked at 3.75%

Honestly shocked to see them drop again I locked 2 weeks ago.

I was told no, when I tried to do it. Banker told me that I would have to go to another bank.

 

[crcballer55]

 
Once you rate lock can you lock again if rates go lower? Rates just dropped to 3.625% and I locked at 3.75%

Honestly shocked to see them drop again I locked 2 weeks ago.

No, you're locked in. You can refinance after you close though.

 

[richiecotite]

Once you rate lock can you lock again if rates go lower? Rates just dropped to 3.625% and I locked at 3.75%

Honestly shocked to see them drop again I locked 2 weeks ago.

Once you rate lock can you lock again if rates go lower? Rates just dropped to 3.625% and I locked at 3.75%

Honestly shocked to see them drop again I locked 2 weeks ago.

How much did you/will end up coming out of pocket for the refi? What sort of difference will .1 make over the long term, and monthly?

 

[crazy caballo]

There are so many variables in your question. Basically the work schedule is whenever everyone else isn't working. Most successful agents prospect in the morning, then show homes, write contracts, negotiate with other agents in the afternoon, evening, and on weekends. When you're first starting out, there will be A LOT of hard work including getting your online presence set up, making contacts for your database, building relationships with lenders and vendors, and going to classes (if your broker offers them).

The split with the agency will also depend where you end up. A lot do a 70/30 split, some take a 70/30 split and cap at a certain amount, some take a flat fee off the top and charge for certain services on top of it, while some like Redfin will pay you to show homes. Ideally, in the beginning I wouldn't worry too much about the split. Think of it as a training fee you'll pay for more knowledge and experience. Even a 50/50 split under a good agent and team will be well worth it in the long run to get you started on a good foot. If you start off with bad habits in the beginning it's pretty hard to recover. Something like 3/4 of new agents drop out within 5 years so if you're not learning chances are you won't be in the business long.

If you want to start on the right path, real the Millionaire Real Estate agent by Gary Keller. He literally wrote the book on how to be successful in Real Estate and why a lot of top agents gravitate to Keller Williams because of the training and resources they offer.

Thanks for the I formation, repped.

I'm looking into courses and they are cheap. Like 350 everything included. Is there a institution I should be looking into or are all the courses the same? I'm in the New England area and will go to CT and NYC.

 

[SneakerProSr.]

Question for anyone who knows.





Alright first video is where they dented my garage door. Honestly is purely cosmetic but its a brand new house and I'm kinda tight about it.

Second video is where it looks like they busted the sprinklers when they fixed my driveway. I don't know enough about sprinkler systems to have an opinion on this but that looks messed up to me.

I'm 9 days from closing so do they typically fix this stuff or cut me a check to get it fixed?

 

[smokey13]

Question for anyone who knows.





Alright first video is where they dented my garage door. Honestly is purely cosmetic but its a brand new house and I'm kinda tight about it.

Second video is where it looks like they busted the sprinklers when they fixed my driveway. I don't know enough about sprinkler systems to have an opinion on this but that looks messed up to me.

I'm 9 days from closing so do they typically fix this stuff or cut me a check to get it fixed?

It's a new development right? I'm pretty sure you'll do a final walk through to make sure everything is satisfactory

 

[SneakerProSr.]

Yeah my builder walkthrough is Friday. So anything I don't like they take care of in that week before closing?

 

[jjs07]

Yeah my builder walkthrough is Friday. So anything I don't like they take care of in that week before closing?

Absolutely. Make sure you and whoever else is walking through, take note of everything that isn't up to your expectations.

*Make sure they give you a NEW door...not just fix the dent. I mean, this is a new construction and you should get everything that you are paying for.

 

[SneakerProSr.]

I hired a 3rd party inspector to look at everything tomorrow so I'm ask him everything I'm curious about pre walkthrough.

 

[capital sb]

How much did you/will end up coming out of pocket for the refi? What sort of difference will .1 make over the long term, and monthly?

I'm not sure how much of a difference it will make, but when I refi I will have to pay $7500 back to the program that I am using for down payment assistance. Then I would have to pay whatever refi cost there are to the new lender (or roll it into the mortgage).

I will really have to sit down and look at the numbers after closing see if it makes sense for me to refi.

@SneakerPro  how much was the 3rd party inpection?

 

[plansb]

I paid about 800 for my home inspection (house, wood destroying insects, and stand alone garage) and it was worth every penny. Well inspection was another 250 or so. But I bought a 40 Yo house, completely renovated but still def worth it. If anything you will learn a lot about your home assuming you get a good inspector.

 

[aepps20]

I'm hiring a home inspector before the drywall goes up and before closing. I don't trust people so this is the best thing for me.

 

[SneakerProSr.]

I'm hiring a home inspector before the drywall goes up and before closing. I don't trust people so this is the best thing for me.

That's my biggest regret, I didn't hire someone to check out the slab.

capital sb It's was $400 for the new home inspection.