Home buying thread
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Cash offer doesn’t necessarily mean you don’t have a mortgage out of the gate. It just means you show sufficient assets to pay in cash and your offer isn’t contingent on financing approval. A true paid in cash with no financing deal is actually pretty rare, everyone is like you and doesn’t want to miss out on those negative real rates.
Fucker
Log Wizard
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I kinda get what you are getting at. HELOC only gives 60% on developed land (with a house on it), plots alone very much less.
You can do a collateralized loan but the payouts will be tiny.
Also why are you running around? Get a loan for the land and be done with it. Now especially is a time to buy hard assets because your dollar is worth less every day it is in the bank. I just bought some land up north. Short term kind of backwards because I am buying at peak price, but long term...who the fuck cares? Over time it will just become more valuable.
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Sanrith Descartes
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Sanrith Descartes
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Asshat wormie
2023 Asshat Award Winner
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You want to finance vacant land? Really isn’t going to happen. You want to finance construction? You can get construction loans but you will need to have everything planned and approved and would need to have enough money to cover a lot of the pre existing costs
Sanrith Descartes
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Lanx
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you'll have a muffin by the time bidenflation gets done w/ you
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madness
Yup, thats what kept me from.moving back to TN. I was on the northeast side of Nashville and the houses that were 250k when I left in 2020 were now 400k+ now. Looked in the Knoxville area and it was even worse.
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Lanx
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were those homes 3bd 2000+ sq/ft?Yup, thats what kept me from.moving back to TN. I was on the northeast side of Nashville and the houses that were 250k when I left in 2020 were now 400k+ now. Looked in the Knoxville area and it was even worse.
that inventory is gone in franklin where i'm at, it's only those tiny 1k sq/ft homes for 500k or 4bd 3000+ sq/ft homes for almost 1m
so to fill in the gap, you move south towards thompson station and spring hill, thats where the 3bd 2000+ sq/ft homes are now
homes that sold for less than 200k 10years ago are now going for 500k
were those homes 3bd 2000+ sq/ft?
that inventory is gone in franklin where i'm at, it's only those tiny 1k sq/ft homes for 500k or 4bd 3000+ sq/ft homes for almost 1m
so to fill in the gap, you move south towards thompson station and spring hill, thats where the 3bd 2000+ sq/ft homes are now
homes that sold for less than 200k 10years ago are now going for 500k
Yes, 4 bd / 2 bath type homes. We were in the Hendersonville / Gallatin / Station Camp area. No way in hell we were looking in the Antioch or Madison area, and even those are now 150k+ more than a year ago. Even going up as far as White House and a few other area up 65 was ridiculous.
That's not how it's referred to around here. I've put down bids in exactly that position and they weren't considered cash offers. Totally unfinanced deals are becoming increasingly common.
sleevedraw
Revolver Ocelot
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Greetings from DFW!
Closed on our first house about two weeks ago. Mortgage company was an enormous pain in in the ass and caused a delay, and the market is ridiculously inflated, but I'm just happy that we have our own place and got the fuck out of IL.
Closed on our first house about two weeks ago. Mortgage company was an enormous pain in in the ass and caused a delay, and the market is ridiculously inflated, but I'm just happy that we have our own place and got the fuck out of IL.
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Lanx
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Sanrith Descartes
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FYI its Ryobi days at Home Depot this weekend...
2x 4.0 ah batteries and a charger for $99
Lots of other shit as well.
2x 4.0 ah batteries and a charger for $99
Lots of other shit as well.
Cad
scientia potentia est
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Thats like a 20 miles outside suburb of a small city in the middle of nowhere... wow.madness
Drinsic
privileged excrementlord
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Just in case anyone's actually thinking about that, if you intend to ever drive from Spring Hill towards Franklin/Nashville, just don't move to Spring Hill. That commute's nightmare fuel.
Cad
scientia potentia est
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Right... Nashville is the 35th biggest metro in the US by population...
Thats why its surprising that such a small metro area has such inflated prices in a far-flung suburb for a tiny, kind of crappy looking place.