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      04-21-2020, 02:18 PM   #89
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Originally Posted by Kolyan2k View Post
So this is getting interesting. The house is back on the market....apparently buyer lost his job. Working out the deal now, will see what happens. They do want more money now, $5k more.
Good luck man! Would tell them to pound sand since your offer was second highest. Why would you wanna pay more? Could negotiate a little less but savings over long run is beneficial, so perhaps just stick with your original offer.
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      04-21-2020, 02:33 PM   #90
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Originally Posted by BMW F22 View Post
Good luck man! Would tell them to pound sand since your offer was second highest. Why would you wanna pay more? Could negotiate a little less but savings over long run is beneficial, so perhaps just stick with your original offer.
They are saying they had 2 offers higher. Highest lost job and 2nd already bought another house. They increased asking price to my original offer, up 25k and said they wanna hold house on market for a week. So I am willing to give 5k more to take it off the market now, with ability to go inside again and check everything myself. No inspection and no appraisal
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      04-21-2020, 03:32 PM   #91
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Quote:
Originally Posted by Kolyan2k View Post
They are saying they had 2 offers higher. Highest lost job and 2nd already bought another house. They increased asking price to my original offer, up 25k and said they wanna hold house on market for a week. So I am willing to give 5k more to take it off the market now, with ability to go inside again and check everything myself. No inspection and no appraisal
I find it funny that they got 2 higher offers, that both fell through, and now they value the house at that.

Maybe next time I sell a house I will have a few friends throw out high offers then back out so I can justify a higher price

If someone was yanking me around like that I would offer them my original offer, and say it will drop $10k a week. Make sure it is known that a close with you will be quick and effortless, see how much they care to miss out on that.
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      04-21-2020, 03:43 PM   #92
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Originally Posted by Hawkeye View Post
I find it funny that they got 2 higher offers, that both fell through, and now they value the house at that.

Maybe next time I sell a house I will have a few friends throw out high offers then back out so I can justify a higher price

If someone was yanking me around like that I would offer them my original offer, and say it will drop $10k a week. Make sure it is known that a close with you will be quick and effortless, see how much they care to miss out on that.
The thing is that we are in Boston area my buddy can't buy a house for 2 years now. Market is nuts, everything is selling above asking. He told me they bid on a house 60k over asking and it sold nearly 200k over. It was over a million property
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      04-21-2020, 04:00 PM   #93
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Quote:
Originally Posted by Kolyan2k View Post
The thing is that we are in Boston area my buddy can't buy a house for 2 years now. Market is nuts, everything is selling above asking. He told me they bid on a house 60k over asking and it sold nearly 200k over. It was over a million property
Market in Bay Area is crazy too. Been looking and better cities (note I didn’t say best or affluent as those are sky high), are crazy high. Cupertino is $2M. Same with Santa Clara, Mountain View, and Sunnyvale. A 3 bedrooms, 2 baths home with 1,100 sq ft goes for $1.3M and it’s somewhat rundown and old. Anything that is decent is around the $2M mark. Hoping that a correction will follow in the next year or two. I believe real estate followed in 2010 when the 2008 crash happened.
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      04-23-2020, 02:42 PM   #94
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Signed today.....hopefully doing the right thing. Its funny that I really liked and wanted the house when I thought our deal fell through and after it was more clear that we are getting it, now I am having 2nd thoughts
And on top of it bastards over at Zillow flooding me with new pretty houses for same price or less...not exactly the neighborhoods I was looking at, but still. Makes me wonder if something much nicer will pop up the minute I sign PS

Not sure if it's just me, but I never had a house. We live in worry free fully renovated condo...no heating cooling hot water issues, no snow and landscape issues, everything renovated the way I like it, water is free (I like long showers ) Very nervous that I will have zero time for anything and house will eat up lots of $$$...instead of spending it on liquor, vacations, and cars
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      04-23-2020, 05:12 PM   #95
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In my area homes go for about $350-$550 per sf depending if you’re waterfront or not. As others mentioned though if you’re doing painting, finish carpentry, tiling/flooring and other stuff yourself you’ll save a significant amount of money
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      04-23-2020, 08:36 PM   #96
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When people are buying real estate for rental and they tout “little or no money down!” How are they doing it? It beats me as to how people would qualify for more than one home at once. Is it to get one first, rent it and get some income and then get another home using the cash flow and equity in that first home?
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      04-23-2020, 09:44 PM   #97
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Originally Posted by BMW F22 View Post
When people are buying real estate for rental and they tout “little or no money down!” How are they doing it? It beats me as to how people would qualify for more than one home at once. Is it to get one first, rent it and get some income and then get another home using the cash flow and equity in that first home?
Buddy of mine uses cash and equity. Has about 10-12 properties. All of them increased 50-100% already, some more
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      04-24-2020, 12:05 AM   #98
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Originally Posted by Kolyan2k View Post
Buddy of mine uses cash and equity. Has about 10-12 properties. All of them increased 50-100% already, some more
Congrats on the new home btw!

Did your buddy start off with 1, or did he buy several upfront and grew from there? I’m curious if there is a way for first time home buyers to buy 2 vs 1.
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      04-24-2020, 02:29 AM   #99
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The average, 2,200-square foot single story home runs between $14,000 and $32,000 with an additional $4,000 to $16,000 for sheathing and wrap. This is a fraction of the total average home building cost of $285,000. This is hypothetical though...you know it better as you are already doing a pretty intense research on this. Good Luck

Last edited by DushyRao; 04-26-2020 at 01:37 AM..
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      04-24-2020, 07:58 AM   #100
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Originally Posted by BMW F22 View Post
Congrats on the new home btw!

Did your buddy start off with 1, or did he buy several upfront and grew from there? I’m curious if there is a way for first time home buyers to buy 2 vs 1.
Thanks

He had a condo that was paid off (took him 5 years to pay off mortgage, bought it like after college), then moved to a house and rented out his condo. After that bought all others. He had more properties, had to sell 2 more houses during divorce that area is like gold now, could have made a ton..
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      04-24-2020, 09:12 AM   #101
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Quote:
Originally Posted by dreamingat30fps View Post
Was on YouTube the other day looking at RV storage solutions and ended up down a barndominium rabbit hole. Anyone ever heard of these?

I really like the concept, would be worried about value though, saw some pretty crazy expensive ones and wonder if they hold their value or decrease like mobile homes.
I'm all for a barndo. I think it's a great concept. Think of the open floor plan, getting a glass roll-up door in the living room to look over the lake... $/ft is a nice number.

I would think if you were looking to finance that you'd run into valuation issues with the bank since it's a "new" concept, no?
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      04-24-2020, 02:09 PM   #102
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Originally Posted by spazzyfry123 View Post
I'm all for a barndo. I think it's a great concept. Think of the open floor plan, getting a glass roll-up door in the living room to look over the lake... $/ft is a nice number.

I would think if you were looking to finance that you'd run into valuation issues with the bank since it's a "new" concept, no?
Not sure. I really like the idea, saw one that was half and half. Half huge garage, half house, exactly what I would want. Seems a lot cheaper than building a custom home, garage etc.

Of course the videos I find are all from builders or people who own them so they are all positive. I'd be interested in knowing what the down sides are. Apart from the fact that you probably don't want one somewhere prone to hurricanes.
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      04-24-2020, 08:33 PM   #103
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There is brand new house on the market, 3400 sqft, only 10 min from where I am trying to buy. Only 600k for some reason and not selling for 120 days already
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      04-24-2020, 11:36 PM   #104
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Originally Posted by Kolyan2k View Post
There is brand new house on the market, 3400 sqft, only 10 min from where I am trying to buy. Only 600k for some reason and not selling for 120 days already
Dunno but for me 3400 sqft would be a huge turn off. What the fuck am I gonna do with that much house. Ours is like 2800 sqft and we already have space we don't know what to do with.

If it seems to good to be true then theres probably a catch you can't see. Has happened to me, you see what looks like an awesome house online for some ridiculous price, pics all look amazing, then you go see it in person and it's a pos. Neighborhood sucks (10min around here will take you from $50+ million mansion to the ghetto), pics make it look bigger than it is, maintenance issues you can't see etc.
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      04-25-2020, 03:16 AM   #105
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Originally Posted by dreamingat30fps View Post
Dunno but for me 3400 sqft would be a huge turn off. What the fuck am I gonna do with that much house. Ours is like 2800 sqft and we already have space we don't know what to do with.

If it seems to good to be true then theres probably a catch you can't see. Has happened to me, you see what looks like an awesome house online for some ridiculous price, pics all look amazing, then you go see it in person and it's a pos. Neighborhood sucks (10min around here will take you from $50+ million mansion to the ghetto), pics make it look bigger than it is, maintenance issues you can't see etc.

That new house also has 7 acres of land too Even 2400 is way too much for us. We have 1360 now and it works perfectly and everything is used 100% It's just when we looked at smaller houses, all rooms were smaller and houses seemed smaller then my condo. 2000sqft on main floors made sense, plus 400sqft extra space in basement(bedroom+bathroom), plus another 700sqft ready to be finished if needed. Garage in smaller houses was usually single too, and extremely small. House that we made an offer has huge 2 car garage.
As far as that town, it's pretty good, good schools too, more remote. I guess 10 minutes sounds like very little on paper but thats an extra 20 per day commute.
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