Home Buying & Real Estate Thread

[mplsdunk]

Yeah same, grew up in south Minneapolis but my grandparents had all the lake stuff on lock.

 

[mplsdunk]

I got a couple of the eufy cams, I said I’d update with a review for the guys who want something subscription free.

The solocam s40 is good during the day. Detection at night is trash if you run the spotlight but if you leave it in night mode with the IR on it does a good job. So basically the flood light is useless but it’s ok because it saves the battery and isn’t needed. It also shouldn’t need to be charged, it hasn’t been sunny here much and solar is holding it down fine. You can set up detection zones on both cams so it isn’t going off non stop wasting battery and alerting you for nothing.

Here’s with the light on just to show it. I don’t use it as I said.

The garage camera is dope, it controls your garage door over Wi-Fi and will alert you when it’s opens and if it’s left open too long takes about 15 minutes to wire up and mount anyone could do it, super easy. No light as you see it’s not needed, night vision is crispy.

Overall I’d recommend them for a non subscription system.

 

[sole searchin]

Home security

Planning to go with the ring alarm pro setup. 24/7 and professional monitoring so I may just go 100% ring with all cameras etc so I’m on one single app and not multiple ones.

 

[elvampino23]

I’ve completely given up. The market in upstate NY is completely bonkers. I’ve lost 3 homes in less than a week.

The last home I placed a bid as high as 85K over and still lost. You cannot compete with cash offers and no inspections.

It’s crazy how everyone has perfect credit scores now and unlimited funds.

 

[usabasketball08]

I’ve completely given up. The market in upstate NY is completely bonkers. I’ve lost 3 homes in less than a week.

The last home I placed a bid as high as 85K over and still lost. You cannot compete with cash offers and no inspections.

It’s crazy how everyone has perfect credit scores now and unlimited funds.

Where you looking upstate? I went to an open house up there and someone legitimately walked into the place with a blank check and proof of funds. Told the agent they were going to take a quick look around the place and that they would be making an all-cash offer if everything looks good. This place was $599K. They were kind of flexing but I know folks from the city that got their year end bonuses (finance) and bought places up there with all-cash offers less than a month later.

 

[usabasketball08]

Speaking of upstate…any of y’all familiar with the Hudson Valley area? Need a second opinion on something..

 

[アミーゴ]

Speaking of upstate…any of y’all familiar with the Hudson Valley area? Need a second opinion on something..

Bro just continue our DM

 

[usabasketball08]

Bro just continue our DM

Sent you a DM

 

[moderndarwin]

Serious question.

It’s the rare reality that home prices aren’t spiking every month right now (southern california).

We bought our first place in end of August 2022. So been in this spot about 8 months.

I really want to buy a second place and rent this one out. Do I really need to wait for until 1 year to do that?

Related question. Let’s say I wait the full year. I still am not sure exactly what the loan docs say. I have homeowners insurance through escrow on the mortgage loan website. Won’t they know if I switch to landlord insurance? I also want to stop paying for the house insurance thru the escrow it’s a hassle they seem to be super slow and was stressed the few weeks it took to resolve it the first go around.

 

[had pants]

 

[mplsdunk]

pretty sure I know those grey and wood buildings, they also called the cops on me.

I'm sure they're throwing those up all over with the exact same plans though.

 

[Mark Antony]

Man, what happens to those neighborhoods that were already expensive, 800, -1.2M when they rebuild one and sell for 2.5M? Seems nuts.

 

[mplsdunk]

I know people just moving to the country and buying new vs twice as much in a hell hole. Kind of been the move here.

The homies got a 10 year old crib in Duluth here for under 500k the same house would be a mil in Minneapolis and this is the view out back and the city isn’t a total dump.

 

[Mark Antony]

Not even talking any sort of hell hole, but decent, well to do neighborhoods, great schools and all that a developer just decided needs brand new contemporary homes dropped in for twice the price.

 

[pdino]

Serious question.

It’s the rare reality that home prices aren’t spiking every month right now (southern california).

We bought our first place in end of August 2022. So been in this spot about 8 months.

I really want to buy a second place and rent this one out. Do I really need to wait for until 1 year to do that?

Related question. Let’s say I wait the full year. I still am not sure exactly what the loan docs say. I have homeowners insurance through escrow on the mortgage loan website. Won’t they know if I switch to landlord insurance? I also want to stop paying for the house insurance thru the escrow it’s a hassle they seem to be super slow and was stressed the few weeks it took to resolve it the first go around.

Shouldn’t be any limitations on how soon you can buy a second home. Maybe referring to FHA? Your DTI calculations will be tougher since now you have a mortgage added though.

Real estate slowing down most places as interest rates are 8%+

 

[mplsdunk]

I have seen some developers charging stupid amounts here in already nice areas. I’m talking 5mil for a small condo. Last I checked it was still on the market 3 years later.

I think it can only get so bad so quick. When you have options.

 

[ballinsam23]

Curious on the prices when the commercial real estate that’s still empty in NYC turns to housing will be

Couple new condos built in Queens by my parents crib and they’re charging 1 mill for a 1 bedroom with $300 HOA fees and people are buying.

 

[turbospartan]

I know people just moving to the country and buying new vs twice as much in a hell hole. Kind of been the move here.

The homies got a 10 year old crib in Duluth here for under 500k the same house would be a mil in Minneapolis and this is the view out back and the city isn’t a total dump.

While that is nice... no chance I want to deal with those winters.

I was just in Detroit for the weekend and it was nice to see all the development, but some of these prices are outrageous for Detroit. $900k+ condos etc. but right in the "best" area, so I guess the location justifies it (if people are buying). I partly enjoyed the rainy weather there coming from dry *** CO, but then when I talked to my buddies they were all like "yea its been raining for 2 weeks straight, we're sick of it"

 

[mplsdunk]

the weather is the worst for sure. I’m sick of it too.

 

[Raji Lowenthal]

Man, what happens to those neighborhoods that were already expensive, 800, -1.2M when they rebuild one and sell for 2.5M? Seems nuts.

Unless they have some preservation status I thinks it's fair game for developers to cash out. In NJ anything near NJ Transit stations are getting developed for NYers sick of paying 5 and 6k rents. Move to NJ and only pay 3 and 4k

 

[Mark Antony]

Some of them joints be fire too. Fitting Bruce Wayne's crib into the same lot Mary Sue raised her grandkids.

 

[had pants]

 

[had pants]

 

[ghenges]

Property insurance jumped 57%

 

[Raji Lowenthal]

Property insurance jumped 57%

Time to go insurance shopping my dude.