Home buying thread
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Sanrith Descartes
Veteran of a thousand threadban wars
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Currently shopping in central Florida. The flood maps making shopping so fucking hard. State gov is considering mandating people divulge if flood damage.
Sanrith Descartes
Veteran of a thousand threadban wars
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The_Black_Log Foler
Stock Pals Senior Vice President
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DM me areas. May be of help. It’s really fucking hit or miss on potential flood damage/future flooding in central Florida. You really have to look at it on a micro perspective if you’re looking at anything remotely near water
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When I bought my house.. I pulled off an 80/10/10 , 80 mortgage, 10% in a higher interest rate loan, 10% down and that worked well for me. I then focused on paying off that 10% ASAP. And it let me only need 10% down when I bought.
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moonarchia
The Scientific Shitlord
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I ran the numbers, and actually asked Fidelity how much I could loan or withdraw. No way out for me unless this place sells. Denver is still a shitty market to buy in right now, too, so I am looking at new areas as well. Panhandle area FL would put me near sister.
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Nope, 10% was just an additional loan. Original mortgage was at around 5%, this additional 10 was at around 9%. Just a second loan. I functionally had two mortgage payments each month. One for the 80 loan, one for the 10 loan. Following the Dave Ramsey strategy for debt paydown the higher interest rate loan gets snowballed first. About the time I finished that, I refinanced the main mortgage down into the 3% range. I'm now happily around around 2 good commission checks from done with the 80, which I have been minimum payment on since it's the lowest rate I have in debt and there have been better things to be spending the money on (which return better than 3% a year).
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So I’m blessed to have a va home loan. Going through the process wasn’t that bad. Turns out one of the things we lucked into was having a savings account we just put money into for future home stuff and maybe down payment. Only money in, not out. During the process the finance company only looked at our credit report and the joint savings we had. They asked for 3 statements in 2 weeks during closing and apparently really made it simple. So main advise I have is to do this so they don’t go digging around in your normal checking accounts.
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SO anecdote time. Central Florida. Looking at quick move ins from builders due to contracts falling through due to interest rate. Dozens in the last week.
Scooped up a house discounted by 105k and the builder is buying me down to a fixed 4.99 rate for 30 years.
Scooped up a house discounted by 105k and the builder is buying me down to a fixed 4.99 rate for 30 years.
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Sanrith Descartes
Veteran of a thousand threadban wars
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I am seeing tons of shit in Florida with "off the market- contingent" and about a month or two later "back on market" at a lower price. Rates at killing a chunk of buyers who can't qualify with the higher rates.
Fucker
Log Wizard
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Prices are down a lot from when I sold last fall. 8.5% which is a pretty big trim. House prior to that, I sold at the absolute peak of the market, and those houses are down $100k or better.
RE agents in a lot of areas must be shitting themselves. I got an e-mail reply from an inquiry I sent almost two years ago. Must be slim out there if they are digging that deep to find buyers.
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Big Phoenix
Pronouns: zie/zhem/zer
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So opendoor managed to sell another house on my street for 395k, lost 45k on this sale
For some depression fuel, this same house sold for $55,000 back in 2011.
For some depression fuel, this same house sold for $55,000 back in 2011.
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Borzak
Bronze Baron of the Realm
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Learned a valuable lesson 30 years ago from my first landlord. Told me the guy at the appraisal district will have a much higher impact on your taxes than the people who set the tax rate. He was dead on. Appraisal district in TX keeps on file photos of all improvements on your land/property. Keep the guy happy/occupied that comes out and takes pics = happy life. Build a new building it eventually shows up on a satellite image. Fences and improvements to structures and such do not for the most part. They photogrpah everything, a fence, a gate, a well house, chicken house and the list goes on and on.
Landlord was the county surveyor and he was tired of the appraisal guy always asking him for tips on who was working on something or adding something. It's a very very highly corruptable position and it shows if you know the guy and his pay is public record which don't match a lot. Let the guy hunt, fish, and any number of things is greasing the gears.
Landlord was the county surveyor and he was tired of the appraisal guy always asking him for tips on who was working on something or adding something. It's a very very highly corruptable position and it shows if you know the guy and his pay is public record which don't match a lot. Let the guy hunt, fish, and any number of things is greasing the gears.
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