🏡 Better Homes OFFICIAL real estate bs discussion

[DEEZUZ]

1295 Cougar Run, Manteno, IL 60950 | Zillow

1295 Cougar Run, Manteno IL, is a Single Family home that contains 2221 sq ft and was built in 2004.It contains 6 bedrooms and 3 bathrooms.This home last sold for $365,000 in June 2021. The Zestimate for this Single Family is $411,800, which has increased by $5,926 in the last 30 days.The Rent...

www.zillow.com

We love this house but 400k and 10k a year in taxes is a bit to much for us

Did not know taxes were that crazy all the way the F out there too.

My fuck..

 

[OffshoreDrilling]

Not enough shit out there business wise, to pay for roads and schools and shit.

taxes are nuts on the place I’m under contract with too. Not a ton of industry so it all falls on homeowners.

not expecting it to go down ever, but maybe not go up as fast as surrounding areas. ?

 

[Pewter-Camaro]

Well 8 showings yesterday and 4 offers received and all offers well over asking price. We priced it low to get people in and sell quick. 5 more showings today and 1 more tomorrow. After the weekend we will look at the offers. Wife and I also found a place in McHenry we love so offer will go in today on it. Shit moves insane fast compared to when I was looking in 2008 just after the housing crash.

 

[OffshoreDrilling]

Good luck!

 

[Yaj Yak]

Well 8 showings yesterday and 4 offers received and all offers well over asking price. We priced it low to get people in and sell quick. 5 more showings today and 1 more tomorrow. After the weekend we will look at the offers. Wife and I also found a place in McHenry we love so offer will go in today on it. Shit moves insane fast compared to when I was looking in 2008 just after the housing crash.

link to mchenry house?

 

[Shawn1112]

link to mchenry house?

Where is the link or pics of your new house?

 

[OffshoreDrilling]

Appraisal came in yesterday, just waiting on the clear to close now.

closing is the 18th, moving truck reserved for the 22nd.

We’re going to get in there and sleep on an air mattress for a couple days. Clean all the carpets, change locks, fix up a few things needed before we actually get in there.

Pumped.

 

[Chester Copperpot]

Nice man. Paint, switch/outlets/plates, locks, light fixtures, and kitchen sink (literally, no pun intended ) all got changed the first week we moved in.

 

[Bob Kazamakis]

The wife is talking about wanting a small rental unit like this. I feel like throwing $10-12k at it and redo kitchen and bath with some paint/flooring and could kill it on rent.

12482 W Nevada Pl #214, Lakewood, CO 80228 - 1 bed/1 bath

(REColorado) Sold: 1 bed, 1 bath, 435 sq. ft. condo located at 12482 W Nevada Pl #214, Lakewood, CO 80228 sold for $164,950 on Jun 10, 2021. MLS# 4532273. Cosmetic updates needed and it could be amazing. One be...

www.redfin.com

 

[OffshoreDrilling]

The wife is talking about wanting a small rental unit like this. I feel like throwing $10-12k at it and redo kitchen and bath with some paint/flooring and could kill it on rent.

12482 W Nevada Pl #214, Lakewood, CO 80228 - 1 bed/1 bath

(REColorado) Sold: 1 bed, 1 bath, 435 sq. ft. condo located at 12482 W Nevada Pl #214, Lakewood, CO 80228 sold for $164,950 on Jun 10, 2021. MLS# 4532273. Cosmetic updates needed and it could be amazing. One be...

www.redfin.com

Gotta look at the HOA rules. Only a certain number of places are allowed to be occupied by non-owners usually, might outright ban AirBNB type rentals as well.

 

[OffshoreDrilling]

But yeah. Could make a good buck even renting it out a couple weeks a month.

 

[Bob Kazamakis]

Gotta look at the HOA rules. Only a certain number of places are allowed to be occupied by non-owners usually, might outright ban AirBNB type rentals as well.

Oh I’m talking long term not airbnb

 

[OffshoreDrilling]

Oh I’m talking long term not airbnb

The first part applies. Ratio of renters to owners.

 

[Bob Kazamakis]

The first part applies. Ratio of renters to owners.

?

I think our Hoa is 50%

 

[justbob]

on the inspector note- i will always get a home inspection on property im purchasing, without a doubt.


but i also have it in my mind, that there is 1000% SOMETHING missed. without a doubt. they are not infallible.

I’m still in my third home I bought in 2002. Back then it was a very neutral market for both buying and selling and you could easily do your own inspection and be treated seriously on legit items assuming you came in with stellar credit, finances in check, and presented yourself as a professional with a good wealth of knowledge and literally show up in a clean contractor truck..

I had hired two different companies for the previous homes and they missed soooo much is was almost laughable. In my case the price was already more than fair, I was prepared to purchase as is, and I was inspecting more for myself peace of mind really. Regardless, their lawyer agreed except for actual walking of roof (I could ladder up to it, just not step onto), and both lawyers agreed my findings would be permissible if need be for deductions or all out termination of contract.

I couldn’t even imagine this scenario in today’s world... You’d be laughed right out of negotiations. You lose. NEXT!

 

[Aircal]

Coworker retiring and wants to move to Nashville. Said houses have gone up 80 to 100k from last year. Listed theirs this week. I told him what ever you agent says go higher. Listed 260. Pics show updated ready for move in. Thursday 94 people toured. 10 offers of 290k. Was closing off last night and picking winner. I was like dude I told you!!!!

 

[Flyn]

I'm on call this weekend and getting a never ending stream of renters calling my office about already leased properties and expecting to easily get the rental. Rental homes are on the market for a day or two and then get leased. Gotta move quickly.

Also, some of them are garbled, the people speak too quickly and some don't leave call back numbers. C'mon people. Basic communication skills here. I had a Realtor call and she got the address wrong.

 

[Flyn]

If home prices in Florida continue to rise, I may sell my home at the top of the market, pocket a quarter mil. or more and rent until the market stabilizes. Not time yet because the market keeps going up.

 

[Jon01]

If home prices in Florida continue to rise, I may sell my home at the top of the market, pocket a quarter mil. or more and rent until the market stabilizes. Not time yet because the market keeps going up.

That's my plan. We have 3-4 moderately large projects to finish (basement flooring/trim, build barn doors for wine closet and paint wine closet).
If I can time it right we will just about have it paid off, list it and send it and put ~400k in our pockets if things keep running the way they are.
Storage unit our shit and rent a 1br apartment while building our nest egg to the tune of ~8k/mo. Then once the train falls off of the rails we're in a great spot to pick up an acreage and a rental or 2 if not all, nearly all cash.

 

[Flyn]

I'd be more concerned about markets in blue states crashing earlier. Florida has a stream of northern buyers coming down. As long as politics continue as they are now, that might keep Florida prices rising for the next few years. A LOT of people want to move down here. get in while the getting is still good. I can't predict the future but I don't see the price rises ending soon. Not enough homes on the market and a LOT of buyers. Keep an eye on interest rates.

 

[dun4791]

Coworker retiring and wants to move to Nashville. Said houses have gone up 80 to 100k from last year. Listed theirs this week. I told him what ever you agent says go higher. Listed 260. Pics show updated ready for move in. Thursday 94 people toured. 10 offers of 290k. Was closing off last night and picking winner. I was like dude I told you!!!!

Truth about Tennessee, seems houses are going up at the rate of about 10k a month right now. We got lucky and closed on our Tennessee house.
I contacted a realtor just to get a feel for our Illinois house, and he said be prepared for lots of lookers. He suggested an open house so you have most come look same day. House a block over listed for 345, and had only over price offers and accepted contract at 365 with appraisal waived. I don’t have to sell here but the frenzy makes me think of cashing out and renting for two to three years before I retire and move to Tennessee permanently.
So realtor leaves , I didn’t sign a contract, and he texts that he has two families that want my house, one is a car guy who wants my lift etc to stay and is willing to go higher than the 365 he suggested I list for.
Point being red state, blue state doesn’t matter the frenzy is real. Now to decide what to do, I just don’t know.

 

[FirstWorldProblems]

Point being red state, blue state doesn’t matter the frenzy is real. Now to decide what to do, I just don’t know.

It does though, example in NWI your house would be worth an EASY 475k

My neighbors house on tiny lot with 2 car garage, 1800 above ground sq ft (and a very cramped upstairs) and 900 finished in the basement, just sold for 395k.

 

[dun4791]

Did not know taxes were that crazy all the way the F out there too.

My fuck..

My house is nicer than this, one town over about 5 miles away that has lower taxes, and it’s still ridiculous.

 

[dun4791]

It does though, example in NWI your house would be worth an EASY 475k

My neighbors house on tiny lot with 2 car garage, 1800 above ground sq ft (and a very cramped upstairs) and 900 finished in the basement, just sold for 395k.

Yeah I get my house would be worth more in indiana, Tennessee forget it ?. Higher taxes mean house worth less to compensate since most just looking at bottom line payment. Hell my Tennessee house taxes are less per year than my Illinois house is a month.
Really my point was there is a frenzy everywhere regardless of political standing although I do realize houses being less comparatively.

 

[OffshoreDrilling]