Home Buying & Real Estate Thread

[degenerate423]

2nd purchase - we contemplate going out of state (Bend, OR - but they're super high right now), or staying in CA and doing something in like Truckee.

Good info, L lazyj10 . Is the 2nd place to rent out or just a vacation home? Given how high Bay Area prices are, I've been debating on waiting for a correction or just buying a rental elsewhere in California. Still need to do my homework on what areas are good for rentals, but not terribly overpriced.

 

[sco cuddie1]

I've been thinking of buying a home for some time now, but pricing in the Bay Area are risen to much, its been a bit daunting.

This past Sunday, I wake up, check MLS listing and find a very nice townhouse for a decent price. Went to the open house Sunday afternoon, and decided to take the leap and submit an offer.

My offer was accepting Tuesday night . I'm nervous as hell about this, but it'll be a good move for myself and my future.

The townhouse is 12 years old, 1700 sf, 3 bed + den, 2.5 bathrooms, 2 car garage. I'll post pics asap

 

[mynameaintg]

I've been thinking of buying a home for some time now, but pricing in the Bay Area are risen to much, its been a bit daunting.

This past Sunday, I wake up, check MLS listing and find a very nice townhouse for a decent price. Went to the open house Sunday afternoon, and decided to take the leap and submit an offer.

My offer was accepting Tuesday night . I'm nervous as hell about this, but it'll be a good move for myself and my future.

The townhouse is 12 years old, 1700 sf, 3 bed + den, 2.5 bathrooms, 2 car garage. I'll post pics asap

congrats man.

 

[lazyj10]

Where about?

 

[stork]

Where's ek? check in b...project status...?

 

[ekrev98]

Where's ek? check in b...project status...?

Ran into a setback but everything is all good. Just installed the countertops this morning and working on the kitchen/bathroom sinks & plumbing. Couple more small things to do and hopefully should be finished next week.

Speakers throughout the house for a nice home entertainment system. And USB wall chargers installed in certain areas of the house.

Waterfall counter which is the norm for us now. Lol.

Viking fridge.

 

[ekrev98]

Am I allowed to post a help wanted ad that is real estate related in this thread? Don't want to get into any trouble so I wanted to ask first before doing so...

 

[crcballer55]

Are those quickcharge outlets or just regular?

Either way, nice touch!

 

[ekrev98]

Are those quickcharge outlets or just regular?

Either way, nice touch!

3.6 amps. Fast charging

Just got this pic from my contractor. Looks like they started installing the sinks.

 

[galaxynexus]

I've been thinking of buying a home for some time now, but pricing in the Bay Area are risen to much, its been a bit daunting.

This past Sunday, I wake up, check MLS listing and find a very nice townhouse for a decent price. Went to the open house Sunday afternoon, and decided to take the leap and submit an offer.

My offer was accepting Tuesday night

. I'm nervous as hell about this, but it'll be a good move for myself and my future.

The townhouse is 12 years old, 1700 sf, 3 bed + den, 2.5 bathrooms, 2 car garage. I'll post pics asap

@Sco cuddie1  , congrats. What area? Did you put 20% down? Assuming you had a pre-approval letter?

 

[ekrev98]

This one took some time but we finally closed escrow this morning! Purchase price was $600k and sold for $820k.

Before & After

Also opened escrow on a new project this afternoon. Took me 3 weeks in negotiations but I got it done! I'll have pics up once we close on it.

 

[703 hwy]

Nice!

 

[wavy daddy]

Anyone have any experience wit havin a home built in houston?

How does the process work and how do you go about purchasing a lot? Is it cheaper?

 

[thenewjs23]

Anyone have any experience wit havin a home built in houston?

How does the process work and how do you go about purchasing a lot? Is it cheaper?

Its not necessarily cheaper. Depends where you want build. Most homebuilders will buy multiple acres land and develop neighborhoods. First you have to find a plot of land and buy it. Then contact an homebuilder to build your home.

 

[georgehimself]

Any tips for going to open houses and appointments to view homes? What to say? What to look for?

 

[ekrev98]

Any tips for going to open houses and appointments to view homes? What to say? What to look for?

Do you have an RE Agent?

 

[georgehimself]

Do you have an RE Agent?

I do but I like the work you post on here. Message me the link to your website if you have a chance. Thanks .

 

[crcballer55]

Any tips for going to open houses and appointments to view homes? What to say? What to look for?

You don't really need to say anything. The agent doing the OH will probably ask if you have an agent so just tell them you do and you're just looking. Don't make any comments about the home in front of the agent if you like the home. You can ask about the neighborhood, neighbors, etc but don't give away your cards if you're really interested. Discuss those details outside if you go with someone.

You can always ask why the owners are selling to gauge their motivation. If they HAVE to sell (i.e. job offer out of area, opened escrow on a new home and need the proceeds to close, need to downsize financially, etc) then you might have more leverage in the negotiation.

Look out for certain features you're not willing to compromise. You can always add a new outlet or carpet to the home, but you can't change the floorplan, neighbors, etc.

 

[ekrev98]

My newest project in Point Loma. 3 bedroom / 1 bath 1008 sq ft.

 

[throwback1718]

Question guys.

I see a lot of people are buying single family units out of their home state to rent out.


How does that work? What's the catch?
Do I have to change my address or any of these things?

 

[capital sb]

Question guys.

I see a lot of people are buying single family units out of their home state to rent out.


How does that work? What's the catch?
Do I have to change my address or any of these things?

There is no catch, you can buy property anywhere.

 

[natrix916]

My newest project in Point Loma. 3 bedroom / 1 bath 1008 sq ft.

nice

my goal is to move to Point Loma within the next few years

 

[ekrev98]

nice

my goal is to move to Point Loma within the next few years

I fell in love with Point Loma when I first moved out here. Love the houses and the neighborhoods. I don't love the prices. Lol.

Hopefully you can come check this one out when it's all done. Has a pool in the back and a nice neighborhood view.

 

[natrix916]

I'd love to go check it out, but not yet. I hate getting my wife's hopes up if we're not truly ready to buy yet. judging from your previous work, i'm sure she would fall in love with the house and want to buy it on the spot. in due time my man.

maybe if you're showing during a weekday, i can step out of the office and see it. lmk!

 

[juanthedon]

Hey guys, after a lot of reading over the pass several months I've finally taken the first step and spoke with a mortgage broker about starting the pre-approval process.

What would my biggest advantage be going with a mortgage broker versus any other local bank?

Another thing I hope someone can help me better understand is the following:

The mortgage broker stated that if I were to take a slightly higher interest rate then I'd be able to get a cash payout towards my loan because he gets paid more commission on the higher % loan and he can only accept a set percentage.

In other words if I take a loan with a 3.375 loan rate, he'd get paid 5% of the loan of which he can only personally accept 2.75%. The remaining 2.25% of what he'd get paid he can apply towards my closing costs, etc. If I take the 3.25% loan, he'd get 2.75% or less and no money would be given towards my costs.

Doing a rough estimate of purchasing a 350k home, we calculated that it would take approximately 9 years for the two loans to break even and then the initial loan would start costing more. Has anyone ever done a loan like this? Should I steer clear, or is this something good to consider?