House Buying Thread

mamaemeritus
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House Buying Thread

Postby mamaemeritus » Tue Jul 28, 2020 2:13 pm

Am I the only one that thinks home warranties are a total joke? At least the ones we've had were. You have to use pre-approved fix-it companies that may or may not be anywhere near you - and the fix-it company is in no hurry to get to you because they're not making as much $ off of you as they would a regular Joe Shmoe customer.

Maybe "joke" is the wrong word. More like, "complete pain in the ass."

Troy Loney
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House Buying Thread

Postby Troy Loney » Tue Jul 28, 2020 2:36 pm

Insurance in general is a **** industry.

tifosi77
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Postby tifosi77 » Tue Jul 28, 2020 2:58 pm

We've had warranties on all 4 houses we've bought, and made use of the coverage at each of the first 2. No issues or complaints, really.

skullman80
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Postby skullman80 » Tue Jul 28, 2020 3:03 pm

Good luck @dodint . I'm glad we bought and sold when we did. It's definitely a seller's market right now.

NTP66
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Postby NTP66 » Tue Jul 28, 2020 3:05 pm

We sold our condo right before a massive slide towards it being a buyer's market. No other condo in that complex sold for within $25k of what we sold ours for over the next 4+ years. I'd have sold it for much less in order to get out, but my wallet is happy that we didn't have to.

dodint
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Postby dodint » Tue Jul 28, 2020 3:18 pm

We took out a $30k HELOC on the Latrobe house to do some projects while we get moved in. The driveway and water filtration system took up $20k already. If we can run this thing up to $30k and then immediately pay it off with the proceeds of the sale of the house I'll be pretty stoked.

The next thing we want to do is a whole new HVAC system. Right now the house is furnace only. Would be nice to have that covered, at least in part, with the sale of the house.

mac5155
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Postby mac5155 » Tue Jul 28, 2020 10:40 pm

Insurance in general is a **** industry.
One of our family friends just graduated college and got a job with insurance. I don't know what exactly, but he essentially bragged about how "his role is to ensure that the claims filed are either completely or mostly denied".

I give him 2 years before he's moving on. If even. Welcome to the real world kiddo.

mac5155
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House Buying Thread

Postby mac5155 » Tue Jul 28, 2020 10:41 pm

We took out a $30k HELOC on the Latrobe house to do some projects while we get moved in. The driveway and water filtration system took up $20k already. If we can run this thing up to $30k and then immediately pay it off with the proceeds of the sale of the house I'll be pretty stoked.

The next thing we want to do is a whole new HVAC system. Right now the house is furnace only. Would be nice to have that covered, at least in part, with the sale of the house.
Does it already have duct work? That can get expensive.

dodint
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Postby dodint » Tue Jul 28, 2020 10:55 pm

Hahahahahahahahahahaha....

NTP66
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Postby NTP66 » Wed Jul 29, 2020 6:09 am

I'd also consider a high velocity system if ductwork is an issue, as it's easier to run through the walls.

shafnutz05
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Postby shafnutz05 » Wed Jul 29, 2020 7:00 am

Source of the post That's exactly what we were told. Property is in short supply. Stuff isn't staying on the market long and competing offers are common. Not sure where he got the info, but nationally each listing is averaging 3 offers.
My sister had 10 offers on her townhouse, with the first coming on day 1. Her place is nothing special, but it's definitely a seller's market. At least on this side of the state.
Yup... A house on our cul de sac was listed last month. We were actually looking at it for my wife's parents, who want to be closer to their grandkids (and honestly, I love my inlaws and would love to have a kid drop-off closer than 3 hours away).

The sign disappeared in three days. The guy got ten offers and sold for $15k over asking. It had an in ground pool too :(

Troy Loney
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House Buying Thread

Postby Troy Loney » Wed Jul 29, 2020 8:24 am

Insurance in general is a **** industry.
One of our family friends just graduated college and got a job with insurance. I don't know what exactly, but he essentially bragged about how "his role is to ensure that the claims filed are either completely or mostly denied".

I give him 2 years before he's moving on. If even. Welcome to the real world kiddo.
Yeah, the nuts and bolts incentive structure plays out like that. The incentive is to deny claims.

My job is around mandatory insurance related to real estate, I suppose I am happy for the employment security, but everyday I want to unilaterally cancel all my insurance.

robbiestoupe
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Postby robbiestoupe » Thu Jul 30, 2020 3:27 pm

There was a house in our neighborhood that was on the market for over a year. Listed waaaay too high. Now it's sold. I guess playing the long game pays off sometimes.

dodint
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Postby dodint » Thu Jul 30, 2020 4:40 pm

Holy cow.

We signed the realtor contract at 1130am. House hit the MLS an hour later. At 2:30 we got a text asking if we could allow showings at 4:45pm and 6pm. We are still cleaning it, photographer comes tomorrow.

Zillow had 123 views and 4 saves in that first hour.

We listed at $249k for a house we paid $213k for 40 months ago.

willeyeam
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House Buying Thread

Postby willeyeam » Thu Jul 30, 2020 4:43 pm

Geez I'm about to put mine up

dodint
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Postby dodint » Thu Jul 30, 2020 4:56 pm

I hate the idea of showing a house that is unfinished, in the rain, but these folks are pretty eager to get in there.

NTP66
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Postby NTP66 » Thu Jul 30, 2020 5:46 pm

I hate the idea of showing a house that is unfinished, in the rain, but these folks are pretty eager to get in there.
I would prefer seeing a house after it rains, as it makes it easier to check for water leaks, clogs, etc.

skullman80
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Postby skullman80 » Thu Jul 30, 2020 8:21 pm

Holy cow.

We signed the realtor contract at 1130am. House hit the MLS an hour later. At 2:30 we got a text asking if we could allow showings at 4:45pm and 6pm. We are still cleaning it, photographer comes tomorrow.

Zillow had 123 views and 4 saves in that first hour.

We listed at $249k for a house we paid $213k for 40 months ago.
We had two showings the morning after we listed and a steady stream the first week. We had to get up and leave quite a few times in a moment's notice. It was not fun but we got an offer like 15 days.

The market was hot then and it's even hotter now. It's crazy.

I remember we saw a house we liked in your area and it was under contract in like 2 days.

dodint
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Postby dodint » Fri Jul 31, 2020 8:48 pm

We listed at $249k for a house we paid $213k for 40 months ago.
The family that toured it 6 hours after it hit the MLS offered $255k.

Should have FSBO'd the thing. :lol:

AuthorTony
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Postby AuthorTony » Fri Jul 31, 2020 8:55 pm

That's awesome!

dodint
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Postby dodint » Fri Jul 31, 2020 9:10 pm

It's a cash offer, too. They want to close in three weeks.

It's not over but you could probably see the weight slip off my shoulders.

MrKennethTKangaroo
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House Buying Thread

Postby MrKennethTKangaroo » Fri Jul 31, 2020 9:19 pm

It's a cash offer, too. They want to close in three weeks.

It's not over but you could probably see the weight slip off my shoulders.
Why are these people effing around with cash offers for houses in the mid 200s? I got boned by a cash offer on a similar price

skullman80
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House Buying Thread

Postby skullman80 » Fri Jul 31, 2020 9:51 pm

It's a cash offer, too. They want to close in three weeks.

It's not over but you could probably see the weight slip off my shoulders.
:thumb:

dodint
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Postby dodint » Fri Jul 31, 2020 10:00 pm

They wrote us a letter explaining who they are and why they want it. Then sent that, along with screenshots of their bank accounts, with the offer through their realtor.

Still a bit gobsmacked. Hah.

I feel like I am in a Wes Anderson film here with how cartoony-quick it happened.

tifosi77
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Postby tifosi77 » Tue Aug 04, 2020 9:31 pm

It's a good feeling in normal circumstances, I can't imagine dealing with that during the pandemic.

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