especially when you have to live with paying back the remaining amount.
QFT!!!! good friggin point
especially when you have to live with paying back the remaining amount.
The best price for any transaction is the one that nobody is happy with. If someone is happy the other got screwed.QFT!!!! good friggin point
very wise words.The best price for any transaction is the one that nobody is happy with. If someone is happy the other got screwed.
My house came with one of those too. I like talking dirty to my wife from the bedroom when she is in the kitchen.oh, it's got a 70's era intercom with built in radio, from the bedroom to what we currently call the "boom-boom room"
I wouldn't buy a house as an investment right now but I would have no problems buying a home. The problem with the housing market started when everyone started considering it a market.If I had to do it all over again I would not buy, the future of real estate is too much of a gamble.
Here in the Bay Area, it's a PERFECT time to by investment property. Prices are very reasonable, and with the banks still foreclosing on homes, rentals are huge and getting top dollar. What people fail to get is when someone goes into foreclosure and still has current employment, they are still making money. They just haven't paid a mortgage in maybe 2-3 years. Typically all the money goes into their savings account. People have to live somewhere.I wouldn't buy a house as an investment right now but I would have no problems buying a home. The problem with the housing market started when everyone started considering it a market.
If this part of the state is any indication, those Californian people are coming to live HERE.<snip> People have to live somewhere.
Impossible for any of us to say. This is where a *good* real-estate agent is helpful if you have one. Look at what comparable houses in the area have sold for in the past few months. Find out how badly the sellers need to get rid of it - if they've already bought a house they might be desperate, if there are renters in it they might not really care about selling. The fact that other houses have been sitting for so long gives you a little bit of leverage; the sellers might be happy to sell it and be done quickly.OK, found a house, need to make an offer. How low can you go before it's insulting? House is listed at 429, we feel it's worth 390. I'd be comfortable with a 380 offer allowing for leeway up from there. Is 11.5% too low of an initial offer? The market isn't very hot, but the house just came on the market a few days ago, so it's doubtful any offer would make any waves until it rots for a few months, like every other house is doing.
At the rate we're going it shouldn't be too long. Just keep saving away.well, realty can eat a dick.
We went from 380 to 397 after a week of negotiations...they had come down to 410 before our final offer. Some cash cow swept in and made a better cash offer than ours and took it. I hope the contractor they hire to do the ****ty renovations as they flip it takes a huge upper decker in the upstairs toilet.
Looks like the house hunt is on hold for a couple weeks until the market cools off.
Cash is king. Suck for sure though. I've read/heard several stories like this where investors/speculators with $$$$ snatch a place out from under people. I also encourage you to wait, this could be a good thing.I hope so. I don't want to hear any complaints or bailout bull****. If these bag of dicks can sell a house in a week without even asking us whether we wanted to beat the competing offer, then the market doesn't need any help.
exactly. its still a ton of coin for a "fixer upper"Why are you mad at the "cash cow" people who swept it up? It's a market. They were willing to pay more.
or if you can't afford custom digs, buy proper, get your utils dug, have a slab poured then slap a pre-fab on it.Another option, if you can do it near where you want to live, is to buy a piece of property and build. I've had some family that have done that and it worked out fiscally in their favor.
They bought a piece of property that had the features they wanted then bought a mid-sized used RV and a shipping container for stuff and tools. They had the property wired, sewage and water lines installed, then lived in the trailer while building the house. They had the foundation and initial wiring/piping done and then the house framed. One they were framed they mapped out how they wanted to build out the rest of the house and went room by room. Bathroom and master bedroom were firs, then a simple kitchen.
Once the house was at least livable with one bedroom, bathroom, and small pre-final kitchen, they moved in and sold the RV. Across the board it took everyone 3-4 years to finish the house, but all saved over 50% for an equivalent house. They had plumbers and electricians do their thing, but spent weekends and free time work on a per-room basis.
I'm mad because I didn't get the house that I wanted. In a supposedly slow economy where the wealthy's investments are uncertain, somebody decided at the 11th hour that the house I had an offer on was a good investment so they could turn their wealth into more wealth, not a house into a home. They don't care about me and I don't care about them and that's fine, in two weeks I'll have forgotten this whole deal....but if all it takes is a week to sell a property in this market for your asking price, then everyone else is asking the wrong price and there should be no complaints.Why are you mad at the "cash cow" people who swept it up? It's a market. They were willing to pay more. It's not your problem if they can't flip it successfully and it "rots on the market", and it's not their problem that your offer was lower than theirs.
I can't do that, unfortunately. Not financially and there's no land to be bought up either. It's not a bad idea, and plenty of investors buy houses like the one I wanted just to tear them down, divide the land, and build two ugly ass identical houses in its place.Another option
Prefabs are a great idea, but you are still looking at $500k for a 3-bror if you can't afford custom digs, buy proper, get your utils dug, have a slab poured then slap a pre-fab on it.
but time for completion would negate the need for an rv / temporary housing solution. they can go up in what, 4-6 weeks tops?Prefabs are a great idea, but you are still looking at $500k for a 3-br
After land purchase, permitting, foundation, sewage/electrical/water, etc.but time for completion would negate the need for an rv / temporary housing solution. they can go up in what, 4-6 weeks tops?
You liked it enough to pull the trigger despite having looked at a bunch of other possibilities. There was something about it to make it stand out for you. Well, someone else liked it too, for whatever reason, and regardless of what they want to do with it. And they were willing to pay more. End of story.I'm mad.
Pretty much exactly what I told him Saturday. 3rd house I put an offer in on was the one I wound up with and actually love it a lot more than the first two.Anyway, you'll probably find a better place. That's what happened to me. I lost two places I was really stoked about, but thinking back now I'm glad I didn't get either one. In time you might see this as a dodged bullet.
Is he the lama or real estate? Or at least rocks a Seagal ponytail? Though it is true. Even if you phrase it like the gods of real estate have a plan for every decent buyer.Our real estate agent told us if doesn't work out it just wasn't meant to be and that something better will always come up. Everything will work out when its meant to be. Pretty solid advice.
They don't care about me...
Kind of like ex-girlfriends.Anyway, you'll probably find a better place. That's what happened to me. I lost two places I was really stoked about, but thinking back now I'm glad I didn't get either one. In time you might see this as a dodged bullet.
$530k for a 1/4 acre lot.......disgusting.Oh, and by the way, Here's my old apartment.
http://www.zillow.com/homedetails/24-Crescent-Rd-Needham-MA-02494/57477942_zpid/
I was tossed out in June 2010. At the time there was an agreement with a selling price of 469. The zestimate is 531. 14 months later and it's still not sold and they're selling for land only. I suppose since they are selling for land only, the zestimate doesn't reallty apply, but it's way off what the property is worth.
Just some food for thought.
well I watched that, and living below your means is good advice at any time.Running on WGBH right now. Saw it on Sunday. Good watch to determine if you are ready. She's changed her tune a little. Personally, I think people should wait longer and have more of a down payment, but I can understand this logic as well as long as you're planning on living here for 20 years.