🏡 Better Homes OFFICIAL real estate bs discussion

[Yaj Yak]

What Is Debt-To-Income Ratio (DTI)?

Your debt-to-income ratio (DTI) measures your total income against any debt you have. Learn what a good DTI is, how to calculate it and how to lower it.

www.rocketmortgage.com

that's where i stole that info from.

 

[Yaj Yak]

Ability-to-Repay and Qualified Mortgage Rules Unveiled

Well, the Consumer Finance Protection Bureau finally released its “Ability to Repay” and “Qualified Mortgage” rules today. At first glance, they look to

www.thetruthaboutmortgage.com

 

[Yaj Yak]

let's boomer house critique.

1716 W August Ln, McHenry, IL 60051 - 5 beds/3.5 baths

(MRED) 5 beds, 3.5 baths, 3954 sq. ft. house located at 1716 W August Ln, McHenry, IL 60051 sold for $340,000 on Feb 11, 2021. MLS# 10916381. Custom Home for Builder and his family. Breathtaking 5 bedroom...

www.redfin.com

wtf is going on here. 400k house. k

is it missing chunks of siding? what's going on there?

what happens in this room.

did you guys get a microwave that doubles as a range hood? for above a counter? buy the right microwave guys. also. is this really where the tv wound up? corner cabinets? fuck corner cabinets. straight into the walll beeeotch

also why did we do a weird cabinet under the oven instead of a handy drawer.

TONGUE AND GROOVE ALL OF THE THINGS.

 

[Rent Free]

gross

 

[Rent Free]

Big place. Wood gut cost 100k to refinish LOL.

Also Zillow blows balls compared to Redfin.

 

[ChrisRac]

Looking at some of my childhood homes and found one that’s for sale. My dad sold it in ‘99 for $450K and it’s now on the market for $940. Fucking wild to have the price more than double.

 

[Yaj Yak]

Big place. Wood gut cost 100k to refinish LOL.

Also Zillow blows balls compared to Redfin.

preeeeeeeach

redfin >>>>>>>> all others. i get annoyed wheen an area doesn't have redfin.

 

[Rent Free]

I need to unfuck some finances my coworker here who was in Afghanistan before coming to DC has already mentioned to me hed like to flip a few houses since we both have such cupcake schedule.

I simply dont have the financial leverage to gut and flip a few out here. I already said Id work for free on the 1st one for a cut of the sales.

I need something to occupy my time here seriously besides spendin money. Making it instead would be great. Have pickup and tools will travel

 

[Yaj Yak]

I need to unfuck some finances my coworker here who was in Afghanistan before coming to DC has already mentioned to me hed like to flip a few houses since we both have such cupcake schedule.

I simply dont have the financial leverage to gut and flip a few out here. I already said Id work for free on the 1st one for a cut of the sales.

I need something to occupy my time here seriously besides spendin money. Making it instead would be great. Have pickup and tools will travel

quit buying new turdfords and start there

 

[Rent Free]

quit wrecking new turdfords and start there

Fixed

 

[Rent Free]

Man moving and family is expensive.

All these black friday sales for a whipple or hellion kit got me crying inside too. But moneys going for house instead.

 

[bikrboy128]

View attachment 74525

That's the same wood panel shit that's in my basement. The walls and a bar. It's thick shit too, I can't imagine how much it cost to put up vs regular dry wall. Next year it all gets yeeted out

 

[Jeffs FRC]

We're starting to think about moving. With the market so hot, my realtor basically said the best plan of attack is to have the nut to put down the 20% on a house you like, obviously be pre approved for the new mortgage while also having current mortgage, then list current house as soon as new house is under contract and hope current sells quickly.

I'm constantly looking through Redfin, and the houses that I like are usually sold in days.

 

[The Beast]

Man moving and family is expensive.

All these black friday sales for a whipple or hellion kit got me crying inside too. But moneys going for house instead.

 

[bikrboy128]

We're starting to think about moving. With the market so hot, my realtor basically said the best plan of attack is to have the nut to put down the 20% on a house you like, obviously be pre approved for the new mortgage while also having current mortgage, then list current house as soon as new house is under contract and hope current sells quickly.

I'm constantly looking through Redfin, and the houses that I like are usually sold in days.

Buddy of mine was in a similar situation. Living in a town house, wanting a house. No one is taking contingent offers so you gotta be ready to throw down your offer the day you see the house

 

[Yaj Yak]

yeah im really thinking of possibly buying a camper trailer and settin' up fucking camp at my dad's house when i list my house to have my house all fuckin' "pinterest cutesie'd up" and not "hey people actually live in this house with an infant"

move my garage into an enclosed trailer. sell whatever furniture i still have and don't want. live in a camper mid spring ish and let it rip NO CONTINGENCIES TAKE THIS DICK OFFER.

 

[DanJ]

Same tongue and groove in my basement. Doesn’t look as bad painted. Basement rooms are framed weird with horizontal studs since that tongue and groove is so thick, so I’m in no rush to replace it any time soon.

 

[Yaj Yak]

Millions risk losing homes in 2020 | LinkedIn

Millions of Americans expect to face eviction or foreclosure by the end of the year, particularly in New York City, Houston and Atlanta, says a U.S. Census Bureau survey.

www.linkedin.com

Millions of Americans are worried about losing their homes by the end of 2020, according to a U.S. Census Bureau survey. As the pandemic upends personal finances, some 5.8 million people said they were "somewhat" to "very" likely to face eviction or foreclosure in the final months of the year — roughly a third of the 17.8 million adults in households are behind on rent or mortgage payments. A temporary moratorium on evictions ends Dec. 31, unless extended, while those who signed up for relief under the CARES Act could face foreclosure by March.

• The threat of evictions was most acute in New York City, Houston, and Atlanta, per the survey.
• Home prices increased 7% annually in September, marking the largest annual gain in six years, according to the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index.

Millions of Americans Expect to Lose Their Homes as Covid Rages

Millions of Americans expect to face eviction by the end of this year, adding to the suffering inflicted by the coronavirus pandemic raging across the U.S.

www.bloomberg.com

• Almost 18 million adults are behind on mortgage, rent payments
• CDC suspension on evictions is slated to expire at end of 2020

 

[Yaj Yak]

that's such a mindfuck to read. like... this shit isn't sustainable and it all feels like it could come barreling down rather quickly. but such a gamble in either direction.

 

[FirstWorldProblems]

that's such a mindfuck to read. like... this shit isn't sustainable and it all feels like it could come barreling down rather quickly. but such a gamble in either direction.

Seems like that's mostly a city phenomenon, which isn't surprising

 

[Yaj Yak]

Seems like that's mostly a city phenomenon, which isn't surprising

still though those cards come crumbling down i think it affects burbs and boonies also

 

[SaturdaysGS]

Hopefully it benefits me, before the banks start reversing course. Everything by me jumped in price and people were buying with more economic uncertainty. Shit is stupid. Hopefully everything drops and I can sneak in on a low interest rate. Doubtful with my luck.

Then again I don’t know if I want to stay where I am (taxes) but I don’t want to pay Indiana and Illinois income tax.

 

[sickmint79]

that's such a mindfuck to read. like... this shit isn't sustainable and it all feels like it could come barreling down rather quickly. but such a gamble in either direction.

yet the DOW is at 30k. nothing to see here folks, everything is fine!

 

[Jon01]

I'm hoping it holds tight through next spring. I'll have our basement re-finished by then and hopefully have the house about paid off(currently down to about 60k owed).
Plan is to sell this place for top $ since our burb is super popular, take our pile of $ and buy a small cheap house in a small town for 1/3 the price and stash the 250-300k surplus and wait for the market to crumble.
Then buy a couple f/c's with cash, clean them up and sell them on contract with a fat ass down from the contract buyers to cover my exposure for when they fuck up.
Hopefully we can parlay that into a few different income streams...if the market holds until I can get this place ready to sell.

 

[Outlaw]

Seeing the market lately I’m so tempted to list my house for like $260,000, pocket my equity and move to Hayward for a year and see if this bubble bursts like I think it will.