House Buying Thread

DigitalGypsy66
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House Buying Thread

Postby DigitalGypsy66 » Thu Jun 09, 2022 9:16 am

We are getting a slew of mail for them from the SC DMV today. Looks like tax receipts and vehicle registrations for both people. So weird.

DigitalGypsy66
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House Buying Thread

Postby DigitalGypsy66 » Thu Jun 09, 2022 2:56 pm

Welp, the new house didn't appraise. About $11K short, so we're appealing the appraisal. If that doesn't work, we've got to pony up the difference. Pain.

robbiestoupe
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House Buying Thread

Postby robbiestoupe » Thu Jun 09, 2022 3:06 pm

Welp, the new house didn't appraise. About $11K short, so we're appealing the appraisal. If that doesn't work, we've got to pony up the difference. Pain.
**** racket.

Congratulations! You're pre-approved for a bazillion dollars!!!1!

Sorry, the house you can afford costs too much

tifosi77
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House Buying Thread

Postby tifosi77 » Thu Jun 09, 2022 4:35 pm

We still get mail from the former owners - we moved in 7 years ago. Some of the stuff looks official, but it all goes in the trash. We had no forwarding address, so what are we to do anyway?
Same here. We used to write "No longer at this address" and put it back in the box but that didn't stop the mail from coming so now it goes right in the trash.
Ditto. We still get stuff that looks important - like from banks and other financial institutions - as well as just random bits and bobs. And not just from the people we bought the house from in 2019, but for the people they bought the house from in 2009, who were the original owners of the property (1961). For the first year whatever made it through the USPS mail forwarding screen got the handwritten note. But since then, it goes to the circular file. (Which in our house is actually a rectangle)

Seriously, some of the stuff looks like it might be related to IRA/retirement statements, bills, etc. It's a little weird.

mac5155
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House Buying Thread

Postby mac5155 » Thu Jun 09, 2022 4:39 pm

30 year fixed rates almost to 6% today. HFS

Dickie Dunn
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House Buying Thread

Postby Dickie Dunn » Thu Jun 09, 2022 4:45 pm

30 year fixed rates almost to 6% today. HFS
Mortgage demand was at a 22 year low last week. Market is about to be dead and very expensive.

NTP66
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House Buying Thread

Postby NTP66 » Thu Jun 09, 2022 4:47 pm

30 year fixed rates almost to 6% today. HFS
Mortgage demand was at a 22 year low last week. Market is about to be dead and very expensive.
WhY aReN’t PeOpLe BuYiNg?

NTP66
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House Buying Thread

Postby NTP66 » Thu Jun 09, 2022 4:47 pm

I’m going to wind up having to save for my daughter to be able to buy a house, too, at this pace.

nocera
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House Buying Thread

Postby nocera » Thu Jun 09, 2022 6:58 pm

I’m going to wind up having to save for my daughter to be able to buy a house, too, at this pace.
She has bootstraps doesn’t she? She’ll just have to pull herself up by them.

NTP66
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House Buying Thread

Postby NTP66 » Thu Jun 09, 2022 7:08 pm

I’m going to wind up having to save for my daughter to be able to buy a house, too, at this pace.
She has bootstraps doesn’t she? She’ll just have to pull herself up by them.
Nah, I’m going to do everything I can to make sure that she never struggles.

nocera
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House Buying Thread

Postby nocera » Thu Jun 09, 2022 7:31 pm

It builds character.

NTP66
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House Buying Thread

Postby NTP66 » Thu Jun 09, 2022 8:23 pm

Doesn’t build a house, though.

DigitalGypsy66
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House Buying Thread

Postby DigitalGypsy66 » Mon Jun 20, 2022 4:00 pm

After a very, very long weekend of packing, we had a walkthrough of the (almost) finished house. Looks very good, and it's much closer to being finished than the last home we bought. Our builder was late to the closing because he was painting and caulking the bathtub. Other than a few thresholds, some minor electrical and HVAC work, it's just about done. Oh year, the shower door is backordered indefinitely. :face:

The U
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House Buying Thread

Postby The U » Mon Jun 20, 2022 5:26 pm

30 year fixed rates almost to 6% today. HFS
I checked on some ARMs on Friday….4.5%. Better than the current fixed rates but compared to a few months ago, depressing. We lost out on 6 different properties over the past year while rates were low. All contingencies waived, all bids over asking, etc but no luck. Some of these houses had 10+ offers, some hundreds of thousands over asking. Now the good rates are gone and housing prices haven’t come down enough to offset the rising rates. Took a tour of a house yesterday that was nice but I feel like right now we are on the edge of the cliff, with prices ready to drop. But rates might go up again. So buy now before rates rise again or hold off a few months so housing prices come back to earth a bit. They say it’s impossible to time the market but it feels like it’s smart to hold off right now……buying now seems like you’re signing up for the worst rates and worst housing price. Houses are sitting on the market for the first time in 1.5 years so that’s a good sign.

mac5155
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House Buying Thread

Postby mac5155 » Mon Jun 20, 2022 6:38 pm

30 year fixed rates almost to 6% today. HFS
I checked on some ARMs on Friday….4.5%. Better than the current fixed rates but compared to a few months ago, depressing. We lost out on 6 different properties over the past year while rates were low. All contingencies waived, all bids over asking, etc but no luck. Some of these houses had 10+ offers, some hundreds of thousands over asking. Now the good rates are gone and housing prices haven’t come down enough to offset the rising rates. Took a tour of a house yesterday that was nice but I feel like right now we are on the edge of the cliff, with prices ready to drop. But rates might go up again. So buy now before rates rise again or hold off a few months so housing prices come back to earth a bit. They say it’s impossible to time the market but it feels like it’s smart to hold off right now……buying now seems like you’re signing up for the worst rates and worst housing price. Houses are sitting on the market for the first time in 1.5 years so that’s a good sign.
We did a 15/1 ARM in 2018. Got so lucky and refinanced last year at 2.75%. Adjustable rate mortgages are not a good idea but it was a risk I took and it worked out for me. A 15 year fixed term was long enough for me to hopefully get it refinanced and it worked out in 3 years.

I feel for you. On the bright side, find a good deal and deal with the high interest, hopefully it comes down and you refinance in 5 years

faftorial
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House Buying Thread

Postby faftorial » Mon Jun 20, 2022 6:48 pm

Talked to my mother today and she said housing prices where they live in SC (big retirement area) are already coming down. Something's got to give to bring down inflation.

DigitalGypsy66
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House Buying Thread

Postby DigitalGypsy66 » Mon Jun 20, 2022 8:28 pm

Oh yeah, our appraisal challenge got denied, despite the appraiser not having the right lot size in the calculations. Not a deal breaker, just kind of annoying.

faftorial
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House Buying Thread

Postby faftorial » Mon Jun 20, 2022 9:53 pm

Oh yeah, our appraisal challenge got denied, despite the appraiser not having the right lot size in the calculations. Not a deal breaker, just kind of annoying.
I feel for you DG.

Did you lock into a lower rate than available today?

DigitalGypsy66
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House Buying Thread

Postby DigitalGypsy66 » Mon Jun 20, 2022 10:20 pm

Yeah, we actually got the same rate we got with our refi from 2010 - 4.375. Not as low as some, but I'll take it over the upper 5s I've been seeing lately.

We managed to sell our house before the rates took off, too.

tifosi77
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House Buying Thread

Postby tifosi77 » Tue Jun 21, 2022 1:36 pm

Oh yeah, our appraisal challenge got denied, despite the appraiser not having the right lot size in the calculations. Not a deal breaker, just kind of annoying.
How in the world does having incorrect data in the calculation not invalidate the results. wtf

DigitalGypsy66
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House Buying Thread

Postby DigitalGypsy66 » Tue Jun 21, 2022 2:47 pm

Yeah, our agent didn't get it either. She felt the appraiser was just being stubborn.

robbiestoupe
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House Buying Thread

Postby robbiestoupe » Tue Jun 21, 2022 3:04 pm

Yeah, our agent didn't get it either. She felt the appraiser was just being stubborn.
Justifying their worthlessness

DigitalGypsy66
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House Buying Thread

Postby DigitalGypsy66 » Wed Jun 22, 2022 8:34 am

After a very, very long weekend of packing, we had a walkthrough of the (almost) finished house. Looks very good, and it's much closer to being finished than the last home we bought. Our builder was late to the closing because he was painting and caulking the bathtub. Other than a few thresholds, some minor electrical and HVAC work, it's just about done. Oh year, the shower door is backordered indefinitely. :face:
Quite the emotional rollercoaster over the last 12 hours or so.

I got a call last night on my way home from the builder. Looks like their electrician forgot to wire the kitchen wire, and they could not get the certificate of occupancy in time for closing for Friday. So they are pushing the closing to Wednesday the 29th. We have appliance deliveries, other shipped stuff coming, and the movers set for the original closing date. The call came so late that the movers were closed, and the business office of one of the utilities had already closed.

Fortunately, the movers have availability on Thursday the 30th, and we got the deliveries moved and changed mostly successfully. We are able to stay in our current house until the end of June, and I was able to extend my work rental until the end of the month as well. What a pain in the ass.

tifosi77
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House Buying Thread

Postby tifosi77 » Wed Jun 22, 2022 1:22 pm

The electrician forgot to do the wiring. That's a new one.

Kane
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House Buying Thread

Postby Kane » Wed Jun 22, 2022 2:53 pm

He had one job.

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