🏡 Better Homes OFFICIAL real estate bs discussion
- Thread starter OffshoreDrilling
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Man I’d be fucking ecstatic lol. After closing costs I’d be putting a damn chunk of money away at that price. I’d be curious if I could find something and pay cash if things turn in a bad direction.
that hood is interesting.
this would be a kinda comp but you have more bathrooms and a way better spot/setup and i think a better yard? but sold for 233k
2016 Camden Ct, Johnsburg, IL 60051 - 3 beds/2 baths
(MRED) 3 beds, 2 baths, 1611 sq. ft. house located at 2016 Camden Ct, Johnsburg, IL 60051 sold for $233,000 on Jun 18, 2020. MLS# 10677524. Johnsburg schools! Great 3 BR, 2BA ranch on quiet cul-de-sac. 3 ...
this is near you too and i think would kinda comp you
4912 Hickory Way N, Johnsburg, IL 60051 - 5 beds/3.5 baths
(MRED) 5 beds, 3.5 baths, 2390 sq. ft. house located at 4912 Hickory Way N, Johnsburg, IL 60051 sold for $263,000 on Jul 31, 2020. MLS# 10651658. 5 bedroom, 3 full & 1 half bath. Hardwood throughout...
I can’t say I personally know anyone who is behind on rent/mortgage. Everyone in my immediate circle is doing well one way or another. Bartender/waitress friends included. They have been scrappy enough to piece together work with other talents to pay rent and put food on the table. It’s tough to believe that many people are hard up without having at least a little anecdotal evidence.
I don’t doubt it’s more of an urban issue where there’s a huge percentage of hospitality workers. I’m seeing construction drying up too. Projects that have been going since before corona are finishing up. Talking to a lot of guys at work they are going to be laid off, couple smaller outfits just straight up closing their doors or having to risk too much lowballing bids.
Yaj Yak are you guys seeing any slow down? Customers cutting out PM contracts or anything? I know that’s how it went for me back in 09-10’ before people started being laid off. We did a ton of restaurant refer work and that was a hard hit sector at the time too.
I don’t doubt it’s more of an urban issue where there’s a huge percentage of hospitality workers. I’m seeing construction drying up too. Projects that have been going since before corona are finishing up. Talking to a lot of guys at work they are going to be laid off, couple smaller outfits just straight up closing their doors or having to risk too much lowballing bids.
Yaj Yak are you guys seeing any slow down? Customers cutting out PM contracts or anything? I know that’s how it went for me back in 09-10’ before people started being laid off. We did a ton of restaurant refer work and that was a hard hit sector at the time too.
I've said it before in here but there's no benefit to working in IL and living in indiana anymore. The FIPS have flipped the market on its head. What you don't pay in taxes, you'll pay in inflated prices for junk houses
Scaaaaaaaaaaary stuff
I can’t say I personally know anyone who is behind on rent/mortgage. Everyone in my immediate circle is doing well one way or another. Bartender/waitress friends included. They have been scrappy enough to piece together work with other talents to pay rent and put food on the table. It’s tough to believe that many people are hard up without having at least a little anecdotal evidence.
I don’t doubt it’s more of an urban issue where there’s a huge percentage of hospitality workers. I’m seeing construction drying up too. Projects that have been going since before corona are finishing up. Talking to a lot of guys at work they are going to be laid off, couple smaller outfits just straight up closing their doors or having to risk too much lowballing bids.
im there with you, my immediate small sample size, i fortunately don't know anyone struggling.
at work now we are busy as fuck.
pm stuff all got ditched in the spring as all our big box stores wouldn't let us on the roof's which was crazy to us cuz we were saying we'd rent lifts/ladder up/not go inside the store at all, wear gloves, masks, etc. they just didn't care and told us no.... then lots of their shit broke once it got warm out
we don't do any restaurant stuff here... try to avoid it like the plague.
im there with you, my immediate small sample size, i fortunately don't know anyone struggling.
at work now we are busy as fuck.
pm stuff all got ditched in the spring as all our big box stores wouldn't let us on the roof's which was crazy to us cuz we were saying we'd rent lifts/ladder up/not go inside the store at all, wear gloves, masks, etc. they just didn't care and told us no.... then lots of their shit broke once it got warm out
we don't do any restaurant stuff here... try to avoid it like the plague.
If it's any indicator, we are busy af at work. Hiring folks and going like gangbusters in ag mfg.
Hopefully grain prices hold up, we will see...
Keep an eye on home prices and unemployment. Those were two major factors in the depression of the 2000s. If we see home prices start going down and unemployment up, be concerned. By me, prices keep climbing and unemployment is going down so we are good for the time being. It will take a year or two for any trend to become significant so I don't see a problem for at least a couple years. Maybe no problems if the economy recovers from the covid and people get back to work.
this place is fucking incredible.
www.redfin.com
e v e r y t h i n g
place's second kitchen is nicer than majority of 500k homes primary kitchen
that area next to the pool
also the wood work and trim... the theater is fucking maaaasssive...
4110 Larkspur Ct, Johnsburg, IL 60051 - 5 beds/8 baths
(MRED) 5 beds, 7 baths, 9600 sq. ft. house located at 4110 Larkspur Ct, Johnsburg, IL 60051 sold for $1,400,000 on Jul 22, 2021. MLS# 11098008.
e v e r y t h i n g
place's second kitchen is nicer than majority of 500k homes primary kitchen
that area next to the pool
also the wood work and trim... the theater is fucking maaaasssive...
damn just think of the quality of grilled cheese i could make on that with a couple slices of velveeta on some wonder bread
we could start TCG's own church?
anyone in?
www.redfin.com
anyone in?
111 W South St, Woodstock, IL
Multi-family (5+ unit) located at 111 W South St, Woodstock, IL 60098. View sales history, tax history, home value estimates, and overhead views. APN 1308104016.
Reading up on it, it may be enticing right now due to the interest rates but not sure I would ever do that.
Wife and I are in the process of buying our forever home right now. It’s a major sellers market for sure. We sold our current house in less than 24 hours with 6 offers. Most over asking price.
That being said, banks are stupid lenient right now. I was talking to my broker and he said basically they are approving people even if they only have 1 months reserve in the bank to cover the mortgage payment.
For us we are putting down 15%. We could do 20% however the extra 30-40 grand in the bank is way better than saving 150 dollars a month on the mortgage.
Take those things into account, I’d recommend talking to a reputable broker to be honest.
Wife and I are in the process of buying our forever home right now. It’s a major sellers market for sure. We sold our current house in less than 24 hours with 6 offers. Most over asking price.
That being said, banks are stupid lenient right now. I was talking to my broker and he said basically they are approving people even if they only have 1 months reserve in the bank to cover the mortgage payment.
For us we are putting down 15%. We could do 20% however the extra 30-40 grand in the bank is way better than saving 150 dollars a month on the mortgage.
Take those things into account, I’d recommend talking to a reputable broker to be honest.
We want a conventional 30yr and no PMI. I don’t want to have to refi to drop that in the future and hope rates are still low. We’ve got about $50k right now earmarked for a house and want to have $85-90 to throw down for DP+ Closing costs on 400k.
I’d talk to a lender/broker and go over options with real world numbers not online calculators. Seems like PMI is almost nothing now a days, idk how it’s calculated or if it changes over the years?
We are around 500k house with 15% down and the pmi was only like 50 some odd bucks a month? If we threw down 20% like I said our payment changed like 140 bucks a month less.
So you have to weigh.... do you want to pony up and give them 90 grand? Or a little less and keep it in the bank for little change on the monthly payment.
Just food for thought
Every scenario is different and people have different opinions. I personally will not do PMI on my next house, especially with the changes to how FHA loans work now. 15-20 years ago you could refi out of a FHA loan with PMI and get the PMI refunded. Now that's not an option. Also depending on who your loan is with they have stipulations on how to remove PMI if you aren't doing it through a refi. I ended up with PennyMac after my mortgage was sold a bunch of times. Unless I wanted to spend money on doing a refi the only way out of my PMI was to get to 78% LTV and even then it's up to PennyMac's appraisers. My PMI was over 200 a month (yes it went up over time). That was over 30k paid to the mortgage company for their insurance on me.
Doing a refi a few years in may be a good option and converting to a conventional loan but your still paying for the refi process. Got to look at the numbers from all aspects and choose what's best for you now and perhaps 5-10 years later.
I agree about talking to a the lender and not using calculators, but ask all the questions that are important to you. Most lenders don't care how much you pay, they will only work as hard to get you to sign on the dotted line.
Doing a refi a few years in may be a good option and converting to a conventional loan but your still paying for the refi process. Got to look at the numbers from all aspects and choose what's best for you now and perhaps 5-10 years later.
I agree about talking to a the lender and not using calculators, but ask all the questions that are important to you. Most lenders don't care how much you pay, they will only work as hard to get you to sign on the dotted line.
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