Made an offer of $610k on a $640k home that has been sitting for 75days. The offer was denied. No other offer has been submitted. Home is paid off but the sellers have already moved. They bought the house for $280k 17 years ago. I get it...they bought it so they can sell it for whatever they want but my goodness this is truly level 99 boomer behavior.
Why in the heck are we stuck at the $250K deduction per person and will this change in the foreseeable future?
We would sell tomorrow if we didn't face such a huge tax bill.
Bought in 1998 for $190K. Current value estimate: $1.8M.
Encinitas CA.
Agent here. I’ve noticed in my last 4 transactions that buyers and their agents are offering 8-10% under asking, plus full closing costs and buyers agent commission and then refusing to negotiate entirely. It’s like a “take-it-or-leave-it” scenario with every transaction. Luckily there have been other offers on all of them, but this seems like an odd strategy for a transaction that typically has multiple negotiation points (offer, inspection, appraisal). I’m curious if other agents are seeing this in their major metros and how you’re working with agents who refuse to work with you.
Detail: these are single family homes in a very desirable suburb about 10-15 minutes from downtown Atlanta.
I have noticed this in the past but a lot more so recently. My visibility into the MLS is via Redfin mostly. I have noticed, in the two states where I've lived recently, that properties are often pulled and then relisted. In these cases, if you look at the history section the previous listing is no longer mentioned. The one I noted just now, the listing that has been up for months is not visible yet a previous listing from 10 years ago shows as pulled. How are these listings being reset as new listings?
when i visit SEA, i always heard about apartment building or houses rented out but the owner is somewhere in china or US.
i have a fully paid off house in us, but my family is in asia and i plan to return there in the next few years. selling this house could prob net me 500-600k in the current market but that feels like a shortsighted decision.
ive been renting it out for airbnb and its been quite successful, but can i continue that when i moved back to asia? how do those real estate bosses manage properties in diff countrries? i assume employees or a rental property management company. but how do they make sure they dont get cheated on by the management?
We have a house on the East Coast that we try to spend a good amount of the summer at. Our primary residence is in LA, CA so the second home is not somewhere we’re back and forth to throughout the year, it’s basically just a summer home. This year we were there 7 weeks, last year it was closer to 2 months.
We don’t rent it out, but we have family/friends who will pop in and stay there sometimes. We also have a property manager who keeps up the place while we aren’t there.
It’s hard to justify only using the home <2 months out of the year, but when we are there, it’s a very special place to our family. My parents also live out there during the summer so my kids get to be around their grandparents more than usual. We’re not opposed to renting it out just scared of people being disrespectful, damaging, stealing, etc.
Am currently selling a house in the country. There have been price reductions, and now sits within the county assessed value and zillow estimate. The market in my area has been slow. Its vacant, and does need some things, Currently at just under $400, had accepted an offer of $10k less. After inspections the counteroffer was $105k less than that. It has a newer roof, structurally sound. Does need updates. What concerns me is that the offer was from another agent in the brokerage I'm using. (specific no dual agency on contract) There was language included in the offer disparaging the property. It seems so off base I'm surprised it was even written up. It seems a bit shady. But I'm not familiar with the process, so am hoping for some guidance. Thanks for the time to read.
I found a home and brought it to a realtor - house had been sitting on the market with multiple, major price reductions. I offered $775k on a house that was sitting at $799k. The day I made the offer, the seller's agent said that they 'just' got an offer because of an open house that was held and that I need to come back with my final best offer. My agent said that I should use an escalation clause - I had already waived inspection but she said i could waive mortgage contingency. I said NO as I am a first-time buyer. I escalated up to $818k - we were told the other offer was cash, but they seller's agent did not say what the other offer was and my agent did not ask what the other offer was. The seller then said he wanted $813k for the house and for me to pay, $5k to my agent, so coincidentally $818k :), the top end of my escalation clause. My agent said that he was negotiating dirty and never bothered to give me feedback on what to do - I gave her play by play and got it back down to $805k and made her eat the commission. However, several days from closing, I am realizing she never bothered to verify the other offer, and with me having done ALL the work all the while learning my dad had a terminal illness and not having all my facilities to realize she didn't get the other offer at the beginning, I am wondering if any of this has any recourse. I asked her to get the offer from other agent, and she says she is trying but no actual other offer. I close in 3 days - she is saying that he decided to not use the escalation, but he did because he saw my $818 number.
I guess its more of a very long rant. TL:DR Tried to be as nice as possible, instead got a lot of headache, down on money and now thinking what to change next time. Changed payment dates to accomodate, bought furniture that they asked for, installed AC that also needed new power socket and line from breaker with my own money, fixed broken stuff next day without asking how it broke and paid for urgent repairs, ignored subrenting room to an undisclosed family member, allowed to pay half of rent in january with promise to pay the rest till the end of the year when the contract is up for renewall (without late fees), and in summary there were 4 instances of late or partial payment where I didnt ask for any late fees. In the end they notified me that they just had a new baby, asked to lower the price that is already 15% below market, said they will probably renew even if I dont lower (I havent increased in 3 years at all), and surprised me with less than two weeks notice that they are not renewing and would like half the deposit back, and other half going towards last month. So essentially living last month at 50% discount, and refusing to take accountability for issues left by them. I dont know how to proceed, and not sure how to behave with future tenants (that I need to find on short notice). End of TL:DR
I've been renting out a small appartment that I co-own with my brother that we inherited 3 years ago, while we live together and share expenses. We both would have preferred to live separately, but its not possible at the moment, so we've decided to rent it out and be as chill as possible to tenants and rent at a bit below market, because we thought its a bit overinflated for what it is.
Since its not a business for us, We've decided to get help from an agent, but she was very sketchy, tried talking me out of doing basic renovation to tide up the space, tried suggesting using play-doh to hide holes and use super glue to temporarily keep peeling parts of wallpaper in place and stuff like that. I ended up doing quick renovation on a bank loan, then she made god awful photos, sent me a "template" contract with previous clients and tenants info and ID not removed, made a listing that lied about how big flat is and about having AC unit and I've decided that I can to a better job myself, and potential tennents wont have to pay her 50% of asking price upfront for "services", so win-win.
First person that contacted me was in talks with this agent, and was happy to hear that we can just ditch her. So, its a married couple with a 3y.o kid, mom is a part time tutor, dad is technician doing lights and stuff on concert venues. Background check via goverment services show no previous bankruptcy or anything like that.
I like them, they seem nice, we sign a contract, they pay for a first month and safety deposit. Per contract they have to pay for the current month of lease no later than 10th of each month, and its for 11 months with possible renewal at the end. There is no furniture in one room at all, so we sign an agreement that they choose and buy what they need, and I lower the rent partially for the amount they spent, for 4 months until they make this money back. Full rent amount after that. After that they asked a couple of times to change some furniture they deemed old, I also paid for what they chose.
as TL:DR at the top said, they eventually started missing payments, asked to change date to 15 instead of 10 each month, and started paying on the last day possible or day-two late after me reminding them via text. I tried to accomodate since I didnt want to be "evil landlord" and I know first hand how shitty they can be. Eventually I found out that out of two rooms in the flat the couple and a kid lives in one, and another one they claimed will be "kid's room" is for sister of the husband. They tried to say she visits to babysit, but I noticed lot of personal items, work desk with a laptop and eventually they disclosed that she lives there and "helps with rent and expenses". I thought okay, its a family member, why not. Just added her with ID info on the contract when its up for renewall.
Then they started asking for AC unit because it gets hot in summer, despite me telling upfront during first showing that flat gets warm and it will be hard to provide power line for AC, and that I can buy them a fan. I thought it would be shitty thing to reject since it might be uncomfortable for the kid, so I instaleld AC at my expense, in the middle of it they asked for additional sockets in the kitchen, I spent more than a months rent on whole process. There also were moments when window closing mechanism broke "by itself", when washing machine "suddenly no longer uses spin cycle", and stuff like that, and every time I found and paid contractors for next day repairs, since I thought its my responsibility to provide working flat. They also asked to get rid of old kitchen cabinets and install new ones, with me paying for cabinets and they will install it themselves or with help of their friends. We havent gotten around to that, thankfully, but I agreed to do it after renewal.
To make long and boring story short, in june they said they expecting a baby in about two weeks. Wife will no longer work, sister is getting married and moving out, all increased expenses fall onto husband. They ask to live one extra month after contract is up, without renewing, just on gentleman's agreement while they figure out finances, and implied flat lost its value and market has cooled so I need to lower rent. I refused, asked to sign one month prolongation. They said no problem, there is 99.9% chance we'll renew since kid goes to kindergarten here and has friends.
CURRENT EVENTS That brings me to today. We have a clause in contract that there is one month notice for moving out/not renewing. On the last possible day for payment they said they wont be renewing, money is very tight due to newborn, they will move out in two weeks, and said I quote "we offer you two options for deposit". Either they dont pay in august and get half deposit back instead of full, or they pay me half and get full deposit back. Mind you I havent seen current state of the flat, but on previous visit I noticed coffee stains on wallpapers near tables, lots of vynil and paper stickers left by kid on furniture and appliances, and when I brought up that they scratched enamel on kitchen sink to the point of needing to replace whole sink, they said it was like that before, as well as saying that clearly scratched/peeled off layers on interior doors (done by their kid), destroyed carpets is usual wear and tear. They were first to live there after renovation, I filmed whole flat on the day they moved in, provided screenshots, and they reluctantly said they will clean the flat, but wont be reapplying spray-on enamel on sink, fixing doors and wallpaper or anything like that. Not in "hold it from deposit" kind of way, just "its wear and tear, get over it" way. That was it. The place I live in for last 15 years has hold up better, than the one they lived in for barely 3.
I am curretly awaiting couple days until they'll automatically removed from temporal residence registration (I registered them because they asked and I tried to do things as legal as possible, usually landlords flat out refuse or ask additional safety deposit as payment for lawyers, because registration means that you cant evict registered children if they dont have permanent residence, but they promised that they will register just themselves, adults), so to avoid them registering two underage kids out of spite, then I plan to ask how on earth they arrived at half the rent for august instead of full payment and then suggest paying august in full, then getting back deposit with utilities and small fixes susbtracted. But I'm afraid they will trash the flat further with the 11 or so days left on the lease, also conscience eating me that I will ask for full month payment on short notice (despite them doing short notice things during renting).
Extremely discouraged, afraid to be nice with future tenants, not sure how to find/screen new ones since I misjudged severly how "nice" of a people I'm signing contract with.
this is revised from my earlier post as yes I forgot to factor in everyone doesn't live alone, but 29% of people in 2024 do, 267,454,918 people in the US are age 18 and above.
(267,454,918 x 29% = 77,561,926. take that number and subtract it by 267,454,918 to get 189,892,992 then divide by 2 and add the 77,561,926 back for a final total of 172,508,422)
As of 2024 we had a minimum of 140,000,000 houses which means we are short 32,508,422 houses as of 2024.
I and my husband just purchased our first home on the MLS listing of our home. It stated that we were purchasing the home on 1 acre of land in South Carolina we had requested a survey before close and the executive team of my realtor dropped the ball, so here we are a month later and they are finally contracting the surveyor. The survey company came back saying that the parcel of land is only .49 acres and we are short .51 acres based off GLS. We still would’ve definitely bought our house but we definitely would’ve put in a lower offer for the lesser land. The seller also had disclosed that they hvac system had all new components and as soon as the first heat wave came, the system went out. Luckily our home warranty is working with us, but it came to light when the technicians came that that was completely false. None of the components were new.
Is there any grounds for misrepresentation of the property? What can we do?
Edit to add this just came to light
In email I have confirmed I requested the survey and warranty long before close. The executive team with remax did not in fact order or put in my closing documents the survey or the warranty they did the warranty before we would notice but they dropped the ball on my survey
Every time I've given the listing agent feedback, they got defensive and wanted to go back and forth. Why ask if you're not going to be receptive?!! The one today asked if my clients liked the home and I told the agent they didn't want to move forward because of the size (The sq footage on the listing included the basement instead of separating the above grade square footage), and the pictures were forgiving. In person, the space felt much smaller. So then she asked if it was priced right and I said I don't think lowering it would hurt because there are several homes for sale in the subdivision and they're all significantly larger but the difference in price wasn't substantial. Then she wanted to go back and forth about that and said most other homes don't have basements and I stated we looked at 3 other homes in the subdivision and they ALL had finished basements and the basements were larger with higher end finishes. Then she responded again and said the neighborhood name and asked if it was that neighborhood, to which I responded yes. I literally said we looked at 3 other homes in the subdivision, so why would it be a different one?!! I just shut it down and told her that was my feedback and good luck. I mean sheesh!!!!!
We currently live in a 130-year-old Victorian home on a private lot. We loved fixing it up before kids, but with young children, we’ve realized how much upkeep it requires. No garage, expensive heating oil, a damp basement, limited storage, no central AC, and not much functional space.
We’ve lost out on 4 homes so far, all older character homes in established neighborhoods. I love the charm, but we’re now considering a newer, more “cookie-cutter” home that checks nearly all our practical boxes: 4 bedrooms, 2-car garage, second-floor laundry, and a great family-friendly neighborhood with lots of kids. I never thought I’d seriously consider this type of home, but I’m wondering if we’d actually be happier in this season of life with something more functional and lower-maintenance.
Anyone else considering the same? Maybe you already live in one of these plans? Pros/cons?
I’m getting ready to put a house on the market in a sellers market. The house is pristine. The finished basement has occasional water in two exterior corners. Not much and it’s easily managed with a dehumidifier. We have lived with this for years. There is also an occasional leak in the underground garage. The house itself is above average, original hardwoods, fresh paint, updated bathrooms, nice location. Houses here go above asking and quickly.
What percentage would you discount for the basement issues? It only happens when there is a massive “flood warning” rain. Probably needs a new French drain along that side of the house.
For example- have you ever gone over offers & marked a house contingent online before actually notifying the winning bidder the next day?
We’ve had a few home offers that we saw marked contingent before we were officially notified from our agent that we did not get it. Obviously in these cases, we just weren’t chosen. Looking to see if there is ever a glimmer of hope they just decided to let us know in the morning that it was accepted 😅
I’ve been a real estate agent for 7 years now in New Jersey. One very odd thing I’ve noticed is when there is a buyer who is Indian (this is where the controversy starts) the selling process is always like 5 times more difficult than working with other folks. The communication, negotiations, and strategy always feel hyper-aggressive and unprofessional in some ways.
I’ve dealt with this situation about a dozen times already. Can someone help me understand any cultural norms I should be aware of? Ultimately, I just want to be well informed and aware to better serve my clients. Play nice yall! I’m trying to learn.
We have a realtor and they assure us they are pushing ads on the listing but it’s been on the market over 100 days. It’s my husband’s house from before we met/married/moved in together etc. we both had our own homes before we met and never imagined having still having two mortgages so we are desperate to sell.
Any tips or tricks for helping sell would be awesome! New to posting in this sub so not sure if this type of post is even allowed. Sorry in advance if it isn’t!
As the title says, I'm under contract with a motivated buyer on my house. If all goes well, we close on 9/11. She's using an FHA loan with 20% down if that at all matters. My mortgage is due 9/1 but I don't have to pay it until 9/15 (and then a late fee will incur on the 16th).
I've never had a late fee in the 10 years of living in my house, but I'm more worried about messing up the payoff/sale process somehow. I'm getting mixed feedback from people who have done what I'm doing and were fine and others on Reddit saying I shouldn't risk it.
My new rent is also due on 9/11 and I can't shell out two hefty payments at once but I can figure it out if needed. Has anyone had actual experience doing this? I sent a message to my mortgage lender but won't hear back until Monday probably.
EDIT: The buyer is using a conventional loan, not FHA. Doubt that makes any difference.
UPDATE: Thank you everyone for the affirmation to not waive inspection, and also to those who provided differing perspectives. I genuinely appreciate ALL of the input. I am breaking up with my agent and going to look for a new one.
ORIGINAL: I haven't made any offers yet. I've been casually looking for a few months, and only gone to several showings. However, my agent has repeatedly brought up that many sales these days are made without an inspection. From the beginning, I said that I would rather miss an opportunity to buy a house than buy one without an inspection. She has reiterated to me that it may mean losing out to other offers. I haven't even found a house I like yet, let alone made an offer. I'm on the lower end of things budget-wise in my city as a single working class woman, so the places I'm looking at aren't the greatest in the first place. Is this normal for an agent to do? I get that they know houses and they know the market, but are they right that I'll have trouble getting an offer accepted?
A couple of listings I've seen have them as the party to submit offers to. Both of the properties needed some work, so was wondering the likelihood of them accepting a much lower offer. From what I've read, they are a transaction agent for distressed or possible foreclosure properties.