The I need to buy a house thread

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Re: The I need to buy a house thread

Post by The Sybian »

mister d wrote: Sun Mar 29, 2020 5:34 pm I've read there are a lot of people in NYC looking to get out to something bigger. This might not have worked out but I wonder if there's some insane deal you can find out there.
Interesting idea. I'd be happy to sell and lease during the closing period. Realtor hasn't gotten a single inquiry to buy in 2 weeks, just hearing from people looking to rent.

We are debating pulling it off the market. My wife is concerned with the listing looking stale when the market picks up, so she wants to relist whenever it picks up. I think all the old rules are out the window, when things pick up, people aren't going to attach the same stigma to a house sitting for 4 months that they did last year. A vacant house is the only house remotely buyable right now, so it might be worth seeing if someone is desperately needing to move now, we would be about the only option. Realtor is strongly for keeping it listed, but she has her own vested interest there.
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Re: The I need to buy a house thread

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Am I misremembering or did that happen after 9/11?
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Re: The I need to buy a house thread

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rass wrote: Sun Mar 29, 2020 6:45 pm Am I misremembering or did that happen after 9/11?
Did what happen?
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Re: The I need to buy a house thread

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You bragged about owning two houses.
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Re: The I need to buy a house thread

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Ha.

People flush with money deciding that they were done with city living and putting a run on housing in some of the nicer NJ burbs. I had a coworker at the time who had a beautiful old home in South Orange that he was in the middle renovating, and I'm basing this mostly on half-remembered hearsay from him, I guess.
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Re: The I need to buy a house thread

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mister d wrote: Sun Mar 29, 2020 9:22 pm You bragged about owning two houses.
Ha! Definitely not bragging, terrified. Especially as the hospitals are bleeding money through this crisis.
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Re: The I need to buy a house thread

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rass wrote: Mon Mar 30, 2020 5:55 am Ha.

People flush with money deciding that they were done with city living and putting a run on housing in some of the nicer NJ burbs. I had a coworker at the time who had a beautiful old home in South Orange that he was in the middle renovating, and I'm basing this mostly on half-remembered hearsay from him, I guess.
That’s interesting. I moved to Hoboken 10 days prior to 9/11, straight out of school, so I was oblivious to the housing market and suburbs.
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Re: The I need to buy a house thread

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rass wrote: Mon Mar 30, 2020 5:55 amPeople flush with money deciding that they were done with city living and putting a run on housing in some of the nicer NJ burbs. I had a coworker at the time who had a beautiful old home in South Orange that he was in the middle renovating, and I'm basing this mostly on half-remembered hearsay from him, I guess.
His taxes have gone up.
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Re: The I need to buy a house thread

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Ya think?

They're still in the same house (I was there once). Beautiful, with a fucking carriage house.
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Re: The I need to buy a house thread

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Brontoburglar wrote: Sun Mar 29, 2020 12:48 pm furnace 2 set off the CO detector this morning. second issue we've had with it already. looks like it'll be replaced. ideally we'll get the home warranty company to cover their max payment on the replacement and then pay the rest ourselves vs. paying it out of pocket.

we have a weird home warranty were you can "pick" your own technician and then the warranty co. pays for the work ... but I called three hvac companies last time and none of them wanted to deal with it. so I got a recommended company from the warranty folks and they're going to come look

fingers crossed
lol squirrels had built a nest in the flue and were blocking the CO discharge into the crawl space and then into the living room. and the chimney wasn't lined properly to begin with. So we had to get that taken care of to test out the furnace and the furnace then was spewing 20x the amount of allowable CO. honestly happy we didn't get sick/are alive.

got shit straightened out with the warranty company and they're paying for $2400 of the $5K that needs to be paid on that end for the flue work, the furnace install and all the duct work that has to be modified to fit a 2020-era furnace where a furnace from 1988 was at.

and then of course the tree trimmers that I was expecting next week showed up yesterday to trim all the trees and take down the sweet gum tree in the front, so that was $1700 right there. I would like to stop spending money. All of the money LA is making from working 11-straight days over the last two weeks because of the coronavirus is coming in handy.
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Re: The I need to buy a house thread

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Putting the old house back on the market tomorrow. I think we are hitting the sweet spot on timing, as only a few houses have come on in the past two weeks, and none within $100,000 of our house. 4 or 5 came on around $150K less, and 2 or 3 $150K more. My realtor put a house on last week, had 8 in-person showings over the weekend, and got two offers yesterday both over asking price. It's one of the house $150K less than we are listing at, but I'll take that as a very positive sign. Been seeing a lot of news stories about people desperate to leave NYC, Jersey City, Hoboken and more densely populated cities in NJ. Most interesting thing is all of the office workers in NYC being transitioned to work from home or only going in 2 days a week. Suddenly, the longer commute isn't a deterrent, and the bigger house, lawn and lower population density is a bigger draw. Really hoping this brings a boost to the real estate market. The good news is that the very few houses that have gone under contract during the lockdown have contracted for prices very close to what they would have expected to sell for if the pandemic didn't hit.

Wildlife is wreaking having on the porch. A squirrel has been chewing up my shutters, and the porch is covered in bird shit. Realtor put out some outdoor furniture, and it's covered in shit, which is really odd, as it is not a spot conducive to birds. I kept hearing a banging noise, and found a robin trying to fly through the window. Not hitting it hard, but fluttering in front of the window and flying into it 5-10 times in a row in rabid succession. It happened two days in a row. There are two widows off the porch, and both are scratched to hell and covered in bird shit. Hope the scratches are smears and not damage. I need to get this house sold fast. Found a leak in the roof a month ago, and the soffet keeps falling out of position. Terrified what an inspector will find. Just really hoping they hire a shitty one like I did when I bought the house.
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Re: The I need to buy a house thread

Post by Brontoburglar »

is there any way you could agree to a price on the house that didn't have inspection repairs negotiable?

(we did that with mine but we're also talking about a house that sold for a fraction of what you're assuredly asking for)

((you can also come move in to the house behind me. just $365K for 3600 sq feet!))
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Re: The I need to buy a house thread

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Brontoburglar wrote: Thu May 07, 2020 9:18 am is there any way you could agree to a price on the house that didn't have inspection repairs negotiable?

(we did that with mine but we're also talking about a house that sold for a fraction of what you're assuredly asking for)

((you can also come move in to the house behind me. just $365K for 3600 sq feet!))
My brother just did this in Roslindale (Boston). Because he had 5 offers all over asking on one day, he was in a position to say that repairs aren’t negotiable. I’d never heard of that but it’s a sellers market right now. He accepted $35k over asking for a 3 bedroom 1.5 bathroom postage stamp lot. $625k. Can’t believe it.
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Re: The I need to buy a house thread

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Brontoburglar wrote: Thu May 07, 2020 9:18 am is there any way you could agree to a price on the house that didn't have inspection repairs negotiable?

(we did that with mine but we're also talking about a house that sold for a fraction of what you're assuredly asking for)

((you can also come move in to the house behind me. just $365K for 3600 sq feet!))
You can, we discussed listing "as-is," but every realtor we talked to said people will knock $50-$100K off the price assuming you have something to hide. We've done so much work on the house, I really don't think inspection issues will hit those levels.

There is a "house" for sale at the end of my street for $400K. More like a shack in the woods off the dead end at the end of my street. Built in 1925, looks like a camping cabin, maybe 1000 sq ft. Can't see it from the road, so I asked my realtor if she's seen it. She said she would have needed a boat to get through the front yard. And yet, I see realtors showing the property.
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Re: The I need to buy a house thread

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Yeah, even at the peak of the market(s) we've been looking in, "as-is" was a complete non-starter. You automatically assume the absolute worst and a clean-ish inspection would just make you doubt the inspector.
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Re: The I need to buy a house thread

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mister d wrote: Thu May 07, 2020 9:38 am Yeah, even at the peak of the market(s) we've been looking in, "as-is" was a complete non-starter. You automatically assume the absolute worst and a clean-ish inspection would just make you doubt the inspector.
Unless you are selling to a flipper or it's a knockdown. I know my inlaws in Chatham are eventually going to do that. Their .25 acre lot is worth a lot more than the house, so they aren't upgrading anything or putting in any work when they sell. The 1970's bright yellow Formica counter tops are a museum piece at this point.
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Re: The I need to buy a house thread

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Around here, the housing market has been a seller's market for over 20 years (leveled off some in 2008-2010), and typically all houses are sold without any formal termite inspection, but with a (short) home warranty. If somebody demands an inspection, then somebody else who doesn't demand one gets the house.
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Re: The I need to buy a house thread

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I'm not referring to listing the house "as is" but adding an addendum as part of the agreement that inspection is for their use only. we didn't list my house as is, and like the scenario cerrano mentioned, got the addendum as part of the deal because there were multiple offers.
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Re: The I need to buy a house thread

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Brontoburglar wrote: Thu May 07, 2020 11:40 am I'm not referring to listing the house "as is" but adding an addendum as part of the agreement that inspection is for their use only. we didn't list my house as is, and like the scenario cerrano mentioned, got the addendum as part of the deal because there were multiple offers.
That could work... Will definitely try this if we get multiple offers. Listing went up today, Zillow already has 311 views and 14 saves, and a showing scheduled for tomorrow.
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Re: The I need to buy a house thread

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your realtor use the hometime (I think?) app on your phones? that's how they had me manage showings and it was ... overwhelming while also being convenient.

A text/app notification comes in and you say whether or not you want to accept the showing. you basically are expected to accept any showing you can and accept them within a handful of minutes of the request, which means you have to be tethered to your phone. I typically am for work reasons, but it made me feel more attached to my phone than I usually am.
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Re: The I need to buy a house thread

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Brontoburglar wrote: Sun May 10, 2020 7:28 am your realtor use the hometime (I think?) app on your phones? that's how they had me manage showings and it was ... overwhelming while also being convenient.

A text/app notification comes in and you say whether or not you want to accept the showing. you basically are expected to accept any showing you can and accept them within a handful of minutes of the request, which means you have to be tethered to your phone. I typically am for work reasons, but it made me feel more attached to my phone than I usually am.
Since we aren't in the house, it's not necessary. She tells us when people are scheduled so I won't be there doing yard work or whatever, but there isn't an approval process for showings.
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Re: The I need to buy a house thread

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So maybe there is something to all the news stories about the thriving real estate market. We took the house off for a month, put it back on 3 weeks ago. Had some decent traffic and saves on Zillow and decent number of showings. This week, Zillow saves jumped up. Have 4 showings scheduled for today, and one yesterday. People from yesterday just submitted an offer!!! $6K over ask, with a super sappy letter about how the windows in the family room were built by angels and visions of their yet to be conceived children playing in the snow in the backyard... My wife ate that up. Best part, they are requesting a short closing time, just enough for them to get the mortgage. It says a lot that their big ask is that we only accept backup offers in the meantime. My realtor put another house in our town on the market on Friday and got 3 offers on Sunday. She couldn't reveal if they were over ask, but I imagine they must have been. The house looked really nice, but I thought it was aggressively priced to say the least.

We are letting the showings play out today, then my realtor is letting everyone know we got an offer. One of the showings is a second visit, and in COVID times, I don't think anyone is looking for fun. I'm just nervous about the inspection. I know there is a lot cosmetically that needs fixing in the house, and I'm terrified what the inspector will reveal. Attic fan doesn't work, some water damage on a ceiling, some electrical is no longer up to code... I'm hoping these people are as in love with the house as their letter states, and they can get the mortgage. Very surprising that they first saw the house yesterday and made the offer this quick without a second visit.

ETA: sorry, the kitchen was built by angels. They visited on their 3rd wedding anniversary and didn't want to leave!
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Re: The I need to buy a house thread

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Even if you get a slightly better offer it might be best to hold that as collateral against the inspection.
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Re: The I need to buy a house thread

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mister d wrote: Thu May 28, 2020 4:48 pm Even if you get a slightly better offer it might be best to hold that as collateral against the inspection.
Yeah, money isn't the biggest factor if we get another offer. These people want a 40 day close, which is a huge plus for me, with no sale contingency.
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Re: The I need to buy a house thread

Post by Johnnie »

I haven't read through this thread in some time. The roller coaster of home ownership in here is really wild. And the continuedseller's market during these times is pretty crazy to me.

I'll be eventually retiring next year and I've been looking at houses in Tucson consistently this entire deployment. There are many great places, so I'm excited when I'll finally be able to house hunt for real. I'm just happy I'll be going where my money can get me a nice place for cheap. Even at ~$300K there's excellent places.

It leads me to think that when I get another job (after college, of course and a master's of course) I could even think about buying land and going to a place that designs homes and having it built. That's kind of exciting too.
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Re: The I need to buy a house thread

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It wasn’t a sellers market pre-COVID. My town has a direct train into Penn Station, so it’s an easy commute to work in NYC. People are desperate to get out of Manhattan, Brooklyn, Hoboken and Jersey City. In addition to being stuck in tiny apartments and not being able to go outside, a lot of them have to work from home, too. For half the price of an apartment, you can a get 3000 sq ft house on a third of an acre, with plenty of open space.

We also have a huge advantage, as NJ is allowing realtors to show homes, and N.Y. state can’t yet. All the upstate suburbs are on hold. Inventory is still extremely low. It’s picked up in the last 3 weeks, but it’s still very low. While it’s the right time to go on the market, I don’t think I’d be ready to have people walking through my house if I was still living in it.

I have a feeling I could get another $20-$30 grand if we waited it out for a better offer, but I’m not a gambling man and I’m glad my wife agrees. Fuck, it’s been 6 months since we closed on the new house, I need out of this situation.
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Re: The I need to buy a house thread

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Apparently its standard now to include a sappy letter about why you want to buy the house when making an offer. We got 2 more offers, both with horrible letters ("thank you for the opportunity to buy your beautiful home"), though not nearly as saccharine as the first one. The last one even included 3 pictures of the family. I will say, their 4 year old son is about the cutest kid ever. We were already in attorney review on the first offer. Second offer sucked anyways, and they were only putting down 10%, which worries me on their ability to get a mortgage secured or fix anything that comes up during inspection. We are still in attorney review, so we could probably get out and force a bidding war, as the third offer was identical to the first in every meaningful way. We told the first people that we received a stronger offer, but we want to honor out commitment to them and we loved their letter so much, etc..., but because we aren't making them go through the bidding process, we aren't nickle and dimeing over the inspection. I know there will be issues, the inspectors need to justify their existence, and I also know some electrical codes have changed since I bought the house, and the attic fan isn't working, and we don't have a fire-rated door into the garage, and who the fuck knows what he will find.
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Re: The I need to buy a house thread

Post by Brontoburglar »

did you even try the inspection addendum trick?

and yeah, we did the letter on a house we got outbid on. that's the only house that I have regrets about us not buying. fuck, it was great.
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Re: The I need to buy a house thread

Post by sancarlos »

When we bought our home in 1998, we bid against 5 other people, and went over the ask by 15% because we really wanted to win the bid.

Later, our realtor told us that the seller's realtor told him, "They really wanted to sell to this nice family that wrote them a beautiful letter, but at the end of the day, you bid more and that mattered more."
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Re: The I need to buy a house thread

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Brontoburglar wrote: Tue Jun 02, 2020 7:51 am did you even try the inspection addendum trick?

and yeah, we did the letter on a house we got outbid on. that's the only house that I have regrets about us not buying. fuck, it was great.
Our lawyer and realtor laughed at the suggestion, saying nobody would ever agree to it. The house is 60 years old, so it'd be crazy. We are going to limit the inspection to structural, and mechanical, nothing cosmetic. The buyer's language specifies that if we refuse to fix anything, they can waive the results of the inspection and proceed with the purchase. I think that's the best we can do. Their realtor assured ours that they love the house, really want it, and know we aren't bargaining on inspection. We'll see.
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Re: The I need to buy a house thread

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sancarlos wrote: Tue Jun 02, 2020 10:37 am When we bought our home in 1998, we bid against 5 other people, and went over the ask by 15% because we really wanted to win the bid.

Later, our realtor told us that the seller's realtor told him, "They really wanted to sell to this nice family that wrote them a beautiful letter, but at the end of the day, you bid more and that mattered more."
Interesting. We basically got our house because of my dad's occupation (he was a minister) and my first name (Israel) as the previous owners were super-fundies with crosses the only decoration outnumbering their scary family photos. Our neighbours got outbid by a single guy with $$$ but got the house because the previous owners didn't want to break up the makeup of the cul de sac...and this was the second house the neighbours bid on. They got outbid on a house in Golden when the winners overbid by 75K and had the purchase price (upwards of 500K) all in fucking cash.
Did you see that ludicrous display last night?
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Re: The I need to buy a house thread

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Rush2112 wrote: Tue Jun 02, 2020 12:21 pm
sancarlos wrote: Tue Jun 02, 2020 10:37 am When we bought our home in 1998, we bid against 5 other people, and went over the ask by 15% because we really wanted to win the bid.

Later, our realtor told us that the seller's realtor told him, "They really wanted to sell to this nice family that wrote them a beautiful letter, but at the end of the day, you bid more and that mattered more."
Interesting. We basically got our house because of my dad's occupation (he was a minister) and my first name (Israel) as the previous owners were super-fundies with crosses the only decoration outnumbering their scary family photos. Our neighbours got outbid by a single guy with $$$ but got the house because the previous owners didn't want to break up the makeup of the cul de sac...and this was the second house the neighbours bid on. They got outbid on a house in Golden when the winners overbid by 75K and had the purchase price (upwards of 500K) all in fucking cash.
I wish I would see an all cash offer. Our buyer included a mortgage pre-approval at $100K above asking price. Ordinarily I'd say that's foolish, as yodon't make it seem like you have that much room to negotiate, but it makes me feel better. Other offers included pre-approval for the exact amount, which is the norm.
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Re: The I need to buy a house thread

Post by Rush2112 »

We've slowed a tad, at least in our area, but you needed to do something to stand out or you had no chance. Houses would be gone in hours rather than days..we got this house because the first offer fell through and our agent got wind before it was released to the wider market.
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Re: The I need to buy a house thread

Post by wlu_lax6 »

John Glenn's house is a tear down
https://www.arlnow.com/2020/06/03/john- ... torn-down/

$1M for a tear down....
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Re: The I need to buy a house thread

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wlu_lax6 wrote: Wed Jun 03, 2020 12:17 pm John Glenn's house is a tear down
https://www.arlnow.com/2020/06/03/john- ... torn-down/

$1M for a tear down....
My inlaws live in a neighborhood where all the tear downs go for just under a million. It's a pretty standard suburban neighborhood built in the early 1970s. The plots are .2 acres, so pretty small. The rundown 1800sq ft ranch across the street sold for $950,000. It's about 1 mile from main street, so that's a plus. Inlaws have one of the few remaining original homes, and they get offers to from developers frequently. All the new houses are way too big for the plots, and it looks ridiculous IMO. 4000 sq ft homes with 8 feet on each side of the property line.
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Steve of phpBB
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Re: The I need to buy a house thread

Post by Steve of phpBB »

The Sybian wrote: Wed Jun 03, 2020 12:29 pm
wlu_lax6 wrote: Wed Jun 03, 2020 12:17 pm John Glenn's house is a tear down
https://www.arlnow.com/2020/06/03/john- ... torn-down/

$1M for a tear down....
My inlaws live in a neighborhood where all the tear downs go for just under a million. It's a pretty standard suburban neighborhood built in the early 1970s. The plots are .2 acres, so pretty small. The rundown 1800sq ft ranch across the street sold for $950,000. It's about 1 mile from main street, so that's a plus. Inlaws have one of the few remaining original homes, and they get offers to from developers frequently. All the new houses are way too big for the plots, and it looks ridiculous IMO. 4000 sq ft homes with 8 feet on each side of the property line.
And here I was feeling guilty about owning two homes. The two houses together cost us less than half as much as what that ranch across the street sold for.
And his one problem is he didn’t go to Russia that night because he had extracurricular activities, and they froze to death.
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Re: The I need to buy a house thread

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This has to be Westfield, right?
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Re: The I need to buy a house thread

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mister d wrote: Wed Jun 03, 2020 12:44 pm This has to be Westfield, right?
Chatham. But her sister lives in Westfield!
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Re: The I need to buy a house thread

Post by The Sybian »

Steve of phpBB wrote: Wed Jun 03, 2020 12:38 pm
The Sybian wrote: Wed Jun 03, 2020 12:29 pm
wlu_lax6 wrote: Wed Jun 03, 2020 12:17 pm John Glenn's house is a tear down
https://www.arlnow.com/2020/06/03/john- ... torn-down/

$1M for a tear down....
My inlaws live in a neighborhood where all the tear downs go for just under a million. It's a pretty standard suburban neighborhood built in the early 1970s. The plots are .2 acres, so pretty small. The rundown 1800sq ft ranch across the street sold for $950,000. It's about 1 mile from main street, so that's a plus. Inlaws have one of the few remaining original homes, and they get offers to from developers frequently. All the new houses are way too big for the plots, and it looks ridiculous IMO. 4000 sq ft homes with 8 feet on each side of the property line.
And here I was feeling guilty about owning two homes. The two houses together cost us less than half as much as what that ranch across the street sold for.
And I'd bet the taxes on both homes is less than half the taxes on the small, rundown ranch.
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Steve of phpBB
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Re: The I need to buy a house thread

Post by Steve of phpBB »

The Sybian wrote: Wed Jun 03, 2020 5:12 pm
Steve of phpBB wrote: Wed Jun 03, 2020 12:38 pm
The Sybian wrote: Wed Jun 03, 2020 12:29 pm
wlu_lax6 wrote: Wed Jun 03, 2020 12:17 pm John Glenn's house is a tear down
https://www.arlnow.com/2020/06/03/john- ... torn-down/

$1M for a tear down....
My inlaws live in a neighborhood where all the tear downs go for just under a million. It's a pretty standard suburban neighborhood built in the early 1970s. The plots are .2 acres, so pretty small. The rundown 1800sq ft ranch across the street sold for $950,000. It's about 1 mile from main street, so that's a plus. Inlaws have one of the few remaining original homes, and they get offers to from developers frequently. All the new houses are way too big for the plots, and it looks ridiculous IMO. 4000 sq ft homes with 8 feet on each side of the property line.
And here I was feeling guilty about owning two homes. The two houses together cost us less than half as much as what that ranch across the street sold for.
And I'd bet the taxes on both homes is less than half the taxes on the small, rundown ranch.
Oh, no doubt. I think I pay around $4500 per year in property tax for both places.

We actually have relatively high income tax here, however, though from what I can tell they're around the same as NJ or NY.
And his one problem is he didn’t go to Russia that night because he had extracurricular activities, and they froze to death.
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