so your ground water is polluted and your neighbors are douchebags and that's a good thing?
real estate is confusing........
More real estate doom and gloom
- Thread starter Toshi
- Start date
real estate is confusing........
what do they know!!
not much has changed for a long time. What’s the difference if the king takes 20% of your crops or you pay property tax. If you don’t pay they take it, or jail you. Sure we got fancy tv’s now and a bit more freedom. But it’s still kings and peasants.
That shit is BLACK MAGIC, I tell ya...
Pfft. They priced it cheap, asking $855k with zestimate $905k.Golden is right, damn
2201 Illinois St, Golden, CO 80401 | Zillow
Zestimate® Home Value: $775,000. 2201 Illinois St, Golden, CO is a single family home that contains 973 sq ft and was built in 1952. It contains 3 bedrooms and 1 bathroom. The Zestimate for this house is $811,100, which has increased by $18,500 in the last 30 days. The Rent Zestimate for this...www.zillow.com
Probably a circular reference.
It was the wall of Nicolas Cage staring at you as you sit on the toilet that won me over.
he's so hawt he keeps the mirrors permanently steamed
also.....
also.....
As if the majority of golfers would walk to the course.
Whenever I golf, people look at me like I'm mushroom stamping them with a 6 headed dick when I insist on walking. Lazy cart driving bastards.
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Mortgage companies still make buyers come up with extra cash if the house somehow appraises under the negotiated price.
That's if its written in the purchase contract. The last listing I had, the buyers came in with their offer with no contingencies including the appraisal. Meaning if the home did not appraise for the purchase price amount, they were on the hook for the difference out of pocket in which could not be part of their purchase loan amount. Seeing it more & more in this crazy market.
I think the subtle point you missed is that if the appraisal and the price are different that the buyer has to pay the difference out of pocket.
It's easy, all you have to do is pay with all cash.
www.seattletimes.com
In Seattle’s hot housing market, nearly a quarter of sales are all cash
High-paid tech workers and Bay Area transplants with cash are contributing to a competitive buying market where supply is slim and bidding wars are common.
www.seattletimes.com
What if the asking price differs from the appraised price?It's easy, all you have to do is pay with all cash.
In Seattle’s hot housing market, nearly a quarter of sales are all cash
High-paid tech workers and Bay Area transplants with cash are contributing to a competitive buying market where supply is slim and bidding wars are common.
We're dealing with the appraisal issue right now on some places we're looking at. When prices go crazy there aren't many current "comps" around for the appraisers to reference. As a result the appraisals come in below the offered price (which at this point pretty much must be at least a little, if not a lot, over the asking price.) But lenders will only loan 80% of the appraised value. The buyer is required to make up the delta in cash, so the deposit is often more than 20%.
In competitive markets like this, sellers can refuse an appraisal contingency. A buyer who insists on one will most likely not be the winning offer. Even a financing contingency can be a tough sell, particularly when some people are paying all cash.
In competitive markets like this, sellers can refuse an appraisal contingency. A buyer who insists on one will most likely not be the winning offer. Even a financing contingency can be a tough sell, particularly when some people are paying all cash.
But in a market where every house sees multiple offers, don't the offers set the value?
The comps of the previously sold do and it builds from there.
What they should do is arrange it so that if the appraisal is below the sales price, then the buyer has to cover the difference.
Westy, offers (by themselves) are not usually made public so appraisers have no way to reliably reference them. They need to look at actual sales data. As I understand it, that's typically amounts reported for property tax purposes. And those numbers take a bit to go public, so again, when a market really heats up, the appraisers don't have current comps.
Really though, the banks should figure out some way to protect themselves. Not sure why they haven't thought of it yet, but one thought is to not lend any more than 80% of the appraised value, and make the buyer pick up the difference.
Really though, the banks should figure out some way to protect themselves. Not sure why they haven't thought of it yet, but one thought is to not lend any more than 80% of the appraised value, and make the buyer pick up the difference.
This is specially funny for me. "Taking a Nicolas Cage" or more simply "Taking a Nicolas" is spanish slang for "taking a dump".
"Cage" in spanish is pronounced as present tense "I defecate".
what if someone cashed out their retirement fund to fund it?
cage
Fundamentally, that makes sense. But I wouldn’t do it unless the appraisal was below the sales price.
One of the thoughts I’ve had recently is that investing in real estate, even your primary residence, has a safety/security element to it. Setting aside the volatility and risk considerations, I would think that in an era of cyber crimes that funds invested in real estate would be harder to steal than hacking into an investment account. I’m sure it’s happened but I don’t hear much about people stealing titles. It seems more likely that someone would hack into a brokerage account and drain the funds, leaving an individual with little recourse.
Is something big about to happen in the housing market? Or a big nothing?
The end is near for the mortgage forbearance program and the foreclosure moratorium. Here's what that means.
Is something big about to happen in the housing market? Or a big nothing?
The end is near for the mortgage forbearance program and the foreclosure moratorium. Here's what that means.fortune.com
Investment opportunities
I think not, with the increase in home values over the past year; most home owners unable to pay their monthly mortgage payments will at least be able sell and get back their money even if after they pay off their mortgages.
For sure, they'll be able to sell their houses to investors who'll turn them into STRs.
US home prices surge 17% in May, fastest in 17 years
U.S. home prices registered the fastest growth in 17 years in May as a surge in demand for housing outstripped the supply
abcnews.go.com
