Home buying thread

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Lanx

Lanx

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Kriptini said:
The one advantage to the seller doing the repairs is that they can happen before escrow closes. Depending on what needs to be done, it can be a bit of a bummer to have to wait until after close and the seller moves out before you can do what needs to be done in order for you to move in. I think it depends on what repairs are needed.
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yea but like they might just hire a handiman to take care of it, thats what my agent suggested if repairs are needed she has a few handimen she could call to knock out some quick repairs.

i'm not saying handimen are trash, just saying the intent is to churn and burn repairs to get this house sold.
 
Sanrith Descartes

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This also dovetails onto something mentioned in the cooking thread. Americans today just lack some basic skills (like cooking) and in this case basic home repairs. Im not Bob Villa but i can handle all the basic stuff and most non-basic stuff if I have youtube. I did my first clothes dryer heating element replacement with youtube as a guide. Cost me $35 instead of hundreds.
 
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TJT

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Friend of mine here in Austin is in a similar situation to mine. He got into a house contract many months ago. But they're way behind schedule and he was supposed to be in that house months ago. He was able to talk them down $35k off the price due to the madness going on. But he's thinking of walking away if he can't get at 6.5% on a $500k house.

Looks like he will be walking away as its probably going to be closer to 8% by the time he's able to close.
i
Not sure if its a good idea as he still needs to live somewhere and rent wont be getting any better. That and waiting for the next "good opportunity" in like 5 years... is a long time away.
 
Sludig

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TJT said:
Friend of mine here in Austin is in a similar situation to mine. He got into a house contract many months ago. But they're way behind schedule and he was supposed to be in that house months ago. He was able to talk them down $35k off the price due to the madness going on. But he's thinking of walking away if he can't get at 6.5% on a $500k house.

Looks like he will be walking away as its probably going to be closer to 8% by the time he's able to close.
i
Not sure if its a good idea as he still needs to live somewhere and rent wont be getting any better. That and waiting for the next "good opportunity" in like 5 years... is a long time away.
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Wife wants to move back to CO. Even if I wasn't rabidly against it, would be financially suicide.

Went from 250k home at 3.25, sold 510, to 400k 5 acres at 4.75%.

To go back, we'd be lucky to get 400 back out not even counting house sale fees and what we put into it. meanwhile we'd need a house with a yard (dogs) and 250k buys you a shitty apartment now, maybe can get small not too criminal house that would be a big step down from the original one for like 400, but then do the math with 7+% interest. wife would still hate house and now we deleted all our equity into a vastly overpriced house that we easily risk being upside down on some day.


I think she almost wants me to stay so she can justify living in her parents basement because she knows the reality of buying. I'm almost of the mind of fuck it give her the 100k split of profit that's her share and tell her to figure it out because I don't like having to argue reality that if she got her way would have a very big chance of taking me from retiring from uniformed work at a decent age to possibly never.
 
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Sanrith Descartes

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Sludig said:
Wife wants to move back to CO. Even if I wasn't rabidly against it, would be financially suicide.

Went from 250k home at 3.25, sold 510, to 400k 5 acres at 4.75%.

To go back, we'd be lucky to get 400 back out not even counting house sale fees and what we put into it. meanwhile we'd need a house with a yard (dogs) and 250k buys you a shitty apartment now, maybe can get small not too criminal house that would be a big step down from the original one for like 400, but then do the math with 7+% interest. wife would still hate house and now we deleted all our equity into a vastly overpriced house that we easily risk being upside down on some day.


I think she almost wants me to stay so she can justify living in her parents basement because she knows the reality of buying. I'm almost of the mind of fuck it give her the 100k split of profit that's her share and tell her to figure it out because I don't like having to argue reality that if she got her way would have a very big chance of taking me from retiring from uniformed work at a decent age to possibly never.
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As an alternative scenario... having 5 acres now means you have a goodly amount of property to hide the body.
 
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Sludig

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Sanrith Descartes said:
As an alternative scenario... having 5 acres now means you have a goodly amount of property to hide the body.
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She's Emo enough that I don't always think she's joking when she says she'd let me when I threaten to drown her in the pond.
 
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Sanrith Descartes

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Sludig said:
She's Emo enough that I don't always think she's joking when she says she'd let me when I threaten to drown her in the pond.
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Katheryn Winnick Mystery GIF by ABC Network
 
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Burns

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TJT said:
Friend of mine here in Austin is in a similar situation to mine. He got into a house contract many months ago. But they're way behind schedule and he was supposed to be in that house months ago. He was able to talk them down $35k off the price due to the madness going on. But he's thinking of walking away if he can't get at 6.5% on a $500k house.

Looks like he will be walking away as its probably going to be closer to 8% by the time he's able to close.
i
Not sure if its a good idea as he still needs to live somewhere and rent wont be getting any better. That and waiting for the next "good opportunity" in like 5 years... is a long time away.
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If 8% is going to break the budget, then it is better to walk away than deal with the stress of an overbearing house payment putting pressure on your life. If it takes 2+ years before the numbers make sense to refi, then that is a lot of stress to put on ones self, and ones marriage.

They could possibly save on rent by moving farther into the country, but of course, that has it's own issues with commute times and making the kids change schools.
 
Haus

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Looks like the correction it starting to hit. I have been keeping an eye on land.com for places for my proverbial peach farm I want to retire onto. Any land between Dallas and Houston or Austin was all in the $12-15k an acre range. Today I sort by cost per Acre and I kid you not... I'm seeing $7-8k an acre. Maybe if I'm lucky after year ends we'll crash a bit further.

If I'm willing to drift a bit farther east (more like Tyler/LA Border..) you get prices like this : Highway 125 Tract 9
Sub $3000/acre.
 
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Lanx

Lanx

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Goatface said:
www.foxnews.com

Maryland couple says strangers have moved into the home they just bought and refuse to leave

A couple in Prince George's County, Md., is supposed to be moving into their newly purchased home, but instead are trying to figure out why there are people already living inside it.
www.foxnews.com www.foxnews.com
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comments say
"this area is 77% black"

yup
the video of the squatters
www.wusa9.com

Maryland couple says strangers have moved into the home they just bought and refuse to leave

WUSA9 saw at least two men at the home on Dragoo Place Friday - where signs are posted telling people to stay away.
www.wusa9.com www.wusa9.com
61df4b55db61d23a8a769b98ac959795.jpg
 
C

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Blazin said:
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Knowing nothing about the methodology I have suspicions about "plans to buy a home." I suspect there's a fair bit of, "Yes, I want a house... Oh fuck the rates are WHAT now?"

(Yes, I know the rates are still not insane in a long historical view, but there has been a significant recent reduction in affordability for anyone looking to take a mortgage. Rates are up 1.5-1.75% in the last 60 days on financing offers I've personally seen.)
 
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Ishad

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Captain Suave said:
Knowing nothing about the methodology I have suspicions about "plans to buy a home." I suspect there's a fair bit of, "Yes, I want a house... Oh fuck the rates are WHAT now?"

(Yes, I know the rates are still not insane in a long historical view, but there has been a significant recent reduction in affordability for anyone looking to take a mortgage. Rates are up 1.5-1.75% in the last 60 days on financing offers I've personally seen.)
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To me “plans to buy” indicates there is a level of demand at a price. Mortgage application numbers are a better indicator of the demand at the current price.
 
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Blazin

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Tmac said:
If I had a customer for every company that planned to be a customer, I'd be retired. I'm not retired, so that tells you people's plans are bullshit.
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It being bullshit is irrelevant. By your standard the stat is and always has been bullshit, so what it tells you is there was a 6.8% increase in bull shittiery. Can you/a company find valuable information in the rise and fall of bullshit? If the stat says "record decline in people looking purchase a home in the next six months" - ZeroHedge

We'd have this here instead...



Despite it all being bullshit.
 
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