House Buying Thread
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House Buying Thread
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.
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House Buying Thread
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.
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House Buying Thread
**** racket.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.
Congratulations! You're pre-approved for a bazillion dollars!!!1!
Sorry, the house you can afford costs too much
House Buying Thread
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)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.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?
Seriously, some of the stuff looks like it might be related to IRA/retirement statements, bills, etc. It's a little weird.
House Buying Thread
30 year fixed rates almost to 6% today. HFS
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House Buying Thread
Mortgage demand was at a 22 year low last week. Market is about to be dead and very expensive.30 year fixed rates almost to 6% today. HFS
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House Buying Thread
WhY aReN’t PeOpLe BuYiNg?Mortgage demand was at a 22 year low last week. Market is about to be dead and very expensive.30 year fixed rates almost to 6% today. HFS
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House Buying Thread
I’m going to wind up having to save for my daughter to be able to buy a house, too, at this pace.
House Buying Thread
She has bootstraps doesn’t she? She’ll just have to pull herself up by them.I’m going to wind up having to save for my daughter to be able to buy a house, too, at this pace.
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House Buying Thread
Nah, I’m going to do everything I can to make sure that she never struggles.She has bootstraps doesn’t she? She’ll just have to pull herself up by them.I’m going to wind up having to save for my daughter to be able to buy a house, too, at this pace.
House Buying Thread
It builds character.
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House Buying Thread
Doesn’t build a house, though.
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House Buying Thread
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. ![Facepalm :face:](./images/smilies/facepalm.gif)
![Facepalm :face:](./images/smilies/facepalm.gif)
House Buying Thread
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.30 year fixed rates almost to 6% today. HFS
House Buying Thread
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 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.30 year fixed rates almost to 6% today. HFS
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
House Buying Thread
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.
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House Buying Thread
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.
House Buying Thread
I feel for you DG.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.
Did you lock into a lower rate than available today?
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House Buying Thread
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.
We managed to sell our house before the rates took off, too.
House Buying Thread
How in the world does having incorrect data in the calculation not invalidate the results. wtfOh 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.
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House Buying Thread
Yeah, our agent didn't get it either. She felt the appraiser was just being stubborn.
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House Buying Thread
Justifying their worthlessnessYeah, our agent didn't get it either. She felt the appraiser was just being stubborn.
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House Buying Thread
Quite the emotional rollercoaster over the last 12 hours or so.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.![]()
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.
House Buying Thread
The electrician forgot to do the wiring. That's a new one.
House Buying Thread
He had one job.
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