Housing market is too far gone.

[kwhitelaw]

The issue is its over what we agreed on when we started to look already. So yeah it's just an extra $60 or whatever but that's on top of being over our agreed # to begin with.

If it was just $60 over our # then yeah we'd agree at their counter.

Agent says they are valuing the 3 car garage and it is nice but I don't even park my POS car in a garage now so we don't value it as much as they are.

We are countering at 300.

I hear you but I think I mentioned before on that last house you really wanted that was also overpriced... you might be wasting your time looking at houses with a list price well above your comfort. I respect the max comfort of a buyer, and I love securing a deal for that buyer, but I'm not doing anyone any favors showing houses that might have been sitting for a bit in hopes they'll slash price. Some sellers are just ignorant and will let their house sit.

That said, if your agent is cool showing you stuff above your max comfort and you're cool putting in offers that most likely won't line up with the seller, then push forward and hopefully you'll align

 

[Bill The Butcher]

I hear you but I think I mentioned before on that last house you really wanted that was also overpriced... you might be wasting your time looking at houses with a list price well above your comfort. I respect the max comfort of a buyer, and I love securing a deal for that buyer, but I'm not doing anyone any favors showing houses that might have been sitting for a bit in hopes they'll slash price. Some sellers are just ignorant and will let their house sit.

That said, if your agent is cool showing you stuff above your max comfort and you're cool putting in offers that most likely won't line up with the seller, then push forward and hopefully you'll align

I hear you and appreciate the advice.

This one we went and saw because she thought it would come down and it did already. It is very close now. The last one didn't work out bc Fannie Mae refused to go lower than asking. I think I mentioned it but they got their wish it is contingent now.

It isn't like we are going to look at houses that are way out of reach. Our OG budget was 300 depending on the taxes.

 

[kwhitelaw]

I hear you and appreciate the advice.

This one we went and saw because she thought it would come down and it did already. It is very close now. The last one didn't work out bc Fannie Mae refused to go lower than asking. I think I mentioned it but they got their wish it is contingent now.

It isn't like we are going to look at houses that are way out of reach. Our OG budget was 300 depending on the taxes.

Sadly, you're kinda making my point. The last house your agent felt there was room to come down. There wasn't, and truthfully she had no clue, she was trying to get you in front of something.. Fannie Mae wouldn't come down, but ended up getting their asking. If it settles near their ask price, it was worth that amount atleast to that buyer

Not trying to be Debbie downer and I for sure don't know your market, I just hope your agent isn't just agreeing to show you stuff above where you feel comfortable in the hopes you'll just say fuck it if after you submit a lower offer (based off her comparable research?) and they counter back around list you'll just take it

 

[Bill The Butcher]

Sadly, you're kinda making my point. The last house your agent felt there was room to come down. There wasn't, and truthfully she had no clue, she was trying to get you in front of something.. Fannie Mae wouldn't come down, but ended up getting their asking. If it settles near their ask price, it was worth that amount atleast to that buyer

Not trying to be Debbie downer and I for sure don't know your market, I just hope your agent isn't just agreeing to show you stuff above where you feel comfortable in the hopes you'll just say fuck it if after you submit a lower offer (based off her comparable research?) and they counter back around list you'll just take it

The thing is there is shit out there right now and we want to GTFO of our APT.

One fucking stupid ranch after another day in day out that comes up, I don't even look at the interior pictures any more. Wish you could filter out -ranch on Compass

I dunno man, this is all new to us so we have to trust her. And if it doesn't work out again (and this one is already working out better) then so be it, wasn't meant to be.

The only good thing is we're saving $ staying as renters. Our mortgage will roughly be 1k more a month.

 

[P3R3]

The thing is there is shit out there right now and we want to GTFO of our APT.

One fucking stupid ranch after another day in day out that comes up, I don't even look at the interior pictures any more. Wish you could filter out -ranch on Compass

I dunno man, this is all new to us so we have to trust her. And if it doesn't work out again (and this one is already working out better) then so be it, wasn't meant to be.

The only good thing is we're saving $ staying as renters. Our mortgage will roughly be 1k more a month.

Take some advice from me, I have always regretted cheaping out on houses. Buy more than you want because selling, remodeling, and moving costs a fuck ton. When the fed inevitably needs to crater rates again to get the economy under control you can refinance and get that $100 a month back.

 

[Downset]

I hear you and appreciate the advice.

This one we went and saw because she thought it would come down and it did already. It is very close now. The last one didn't work out bc Fannie Mae refused to go lower than asking. I think I mentioned it but they got their wish it is contingent now.

It isn't like we are going to look at houses that are way out of reach. Our OG budget was 300 depending on the taxes.

In my current market, if your max budget is $500k. You should realistically be looking at homes listed around $480k(willing to offer more), or MAYBE $500k on a price reduced property. Agents here are back to coaching their Sellers to list on the low end with the expectation of getting < $10k.

From the looks of things, unless you want to up your budget. You may want to consider looking at homes under it.

But your area may be operating differently. Like he said, we don't know anything in regards to your market. I know that I'm certainly pulling for you though.

 

[Bill The Butcher]

In my current market, if your max budget is $500k. You should realistically be looking at homes listed around $480k(willing to offer more), or MAYBE $500k on a price reduced property. Agents here are back to coaching their Sellers to list on the low end with the expectation of getting < $10k.

From the looks of things, unless you want to up your budget. You may want to consider looking at homes under it.

But your area may be operating differently. Like he said, we don't know anything in regards to your market. I know that I'm certainly pulling for you though.

Thanks man, should find out more today.

I didn't know the negotiations are now over email. Over text I jokingly told our agent I wish she could blind copy us in and yeah she didn't get the joke won't be doing that again.

 

[saabguy]

Sadly, you're kinda making my point. The last house your agent felt there was room to come down. There wasn't, and truthfully she had no clue, she was trying to get you in front of something.. Fannie Mae wouldn't come down, but ended up getting their asking. If it settles near their ask price, it was worth that amount atleast to that buyer

Not trying to be Debbie downer and I for sure don't know your market, I just hope your agent isn't just agreeing to show you stuff above where you feel comfortable in the hopes you'll just say fuck it if after you submit a lower offer (based off her comparable research?) and they counter back around list you'll just take it

This part is so frustrating

"You're qualified UP TO about $200k"
- OK. We're going to see this house tomorrow that's listed for $250k
"Buy...you're only qualified UP TO $200k"
- mAyBe ThEy WiLl cOmE dOwn!!!
"Sure. And maybe you can write in the contract that sellers will come over and blow you every Friday for the next 5 years.
- NeVeR hUrTs To AsK!!!

.
.
.
.
.
- If we could get a lower rate could we afford the $250k?
"If rates drop to like 1%, sure."
- oh ok.

 

[stevezissou]

I hear you and appreciate the advice.

This one we went and saw because she thought it would come down and it did already. It is very close now. The last one didn't work out bc Fannie Mae refused to go lower than asking. I think I mentioned it but they got their wish it is contingent now.

It isn't like we are going to look at houses that are way out of reach. Our OG budget was 300 depending on the taxes.

Sadly, you're kinda making my point. The last house your agent felt there was room to come down. There wasn't, and truthfully she had no clue, she was trying to get you in front of something.. Fannie Mae wouldn't come down, but ended up getting their asking. If it settles near their ask price, it was worth that amount atleast to that buyer

Not trying to be Debbie downer and I for sure don't know your market, I just hope your agent isn't just agreeing to show you stuff above where you feel comfortable in the hopes you'll just say fuck it if after you submit a lower offer (based off her comparable research?) and they counter back around list you'll just take it

@Bill The Butcher Obviously not paying 6%

 

[Fanya]

The thing is there is shit out there right now and we want to GTFO of our APT.

Should probably take it at 319 then huh?

 

[atxmike]

Man fuck ya'll with your 300k house prices, 1.3 million is the norm in my area

That's the cheapest house in the neighborhood here

 

[Section8]

About to enter the house hunting game, not much for inventory in my budget right now here, hoping once spring pops more will get listed. Will be nice to get out of this apartment.

 

[stevezissou]

About to enter the house hunting game, not much for inventory in my budget right now here, hoping once spring pops more will get listed. Will be nice to get out of this apartment.

Hope you are a cash buyer.....

 

[Section8]

Hope you are a cash buyer.....

I wish. VA Loan. I would wait for rates to drop but we are stepping all over ourselves in this apartment. The only upside is i'm saving a shit load of money and the lease goes month to month in april.

 

[Downset]

Hope you are a cash buyer.....

 

[stevezissou]

I wish. VA Loan. I would wait for rates to drop but we are stepping all over ourselves in this apartment. The only upside is i'm saving a shit load of money and the lease goes month to month in april.

Nice

 

[saabguy]

Anything less than 36% (includes debt)for best rates, no? At least that’s what I’m told from my mortgage guy.

 

[saabguy]

I wish. VA Loan. I would wait for rates to drop but we are stepping all over ourselves in this apartment. The only upside is i'm saving a shit load of money and the lease goes month to month in april.

VA loans are excellent. Unfortunately a lot of agents think they are inferior and don’t take their offers as seriously as they should. In part because a lot of loan officers and companies don’t know wtf they are doing when it comes to VA. So it can fuck up the process, and then the haggard old realtor remembers for the rest of time how they had a VA deal go bad in 1996 and therefore all VA deals are bad. I’m a certified VA specialist and I actually know another specialist in WY if you need help. You have to educate the listing agent that VA offers are actually very strong and have the lowest turndown rate in the industry, and also that VA appraisals allow 2 different ways to dispute value that no other program offers (if they are worried about low appraisals).

 

[Section8]

VA loans are excellent. Unfortunately a lot of agents think they are inferior and don’t take their offers as seriously as they should. In part because a lot of loan officers and companies don’t know wtf they are doing when it comes to VA. So it can fuck up the process, and then the haggard old realtor remembers for the rest of time how they had a VA deal go bad in 1996 and therefore all VA deals are bad. I’m a certified VA specialist and I actually know another specialist in WY if you need help. You have to educate the listing agent that VA offers are actually very strong and have the lowest turndown rate in the industry, and also that VA appraisals allow 2 different ways to dispute value that no other program offers (if they are worried about low appraisals).

oh wow man, thanks this is great info. I haven't used my VA loan since 2000, i didn't have much trouble then, hoping it isn't that bad now. This town is super red and they love their vets here though, so I'm hoping I won't have too many issues other than the VA inspections i've heard are much more strict.

 

[saabguy]

oh wow man, thanks this is great info. I haven't used my VA loan since 2000, i didn't have much trouble then, hoping it isn't that bad now. This town is super red and they love their vets here though, so I'm hoping I won't have too many issues other than the VA inspections i've heard are much more strict.

That’s one of the biggest misconceptions. All VA care ms about is if the home is
Safe
Sound
Sanitary

If it’s a shit pile, then they want to protect the veteran from buying a crack shack. But there’s not much they should/would call out that wouldn’t be called out in any other type of appraisal.

Agents think it’s really strict though and often caution their sellers against accepting these offers.

 

[Mejnoon]

That’s one of the biggest misconceptions. All VA care ms about is if the home is
Safe
Sound
Sanitary

If it’s a shit pile, then they want to protect the veteran from buying a crack shack. But there’s not much they should/would call out that wouldn’t be called out in any other type of appraisal.

Agents think it’s really strict though and often caution their sellers against accepting these offers.

I had an appraiser call overspray on the perimeter foundation below the siding as “chipped or peeling paint” on a VA inspection. Seller had to pull all the mulch and dirt away from the house, paint like 6” of the foundation, then replace the dirt to get it cleared.

That’s an extreme but not isolated anecdote. The guidelines are confusing for appraisers and they absolutely do call more bullshit on VA deals.

 

[saabguy]

I had an appraiser call overspray on the perimeter foundation below the siding as “chipped or peeling paint” on a VA inspection. Seller had to pull all the mulch and dirt away from the house, paint like 6” of the foundation, then replace the dirt to get it cleared.

That’s an extreme but not isolated anecdote. The guidelines are confusing for appraisers and they absolutely do call more bullshit on VA deals.

All you had to do is show that it wasn’t peeling paint and was just overspray. Send that directly to VA with a request for waiver and VA will clear it. Literally just did it this week. VA asked for some bare wood to be painted. Wrote a letter signed by the veteran that it was pressure treated, suitable for exterior, and he planned to cover it after closing anyway. VA signed off on it. They are very reasonable to work with.

 

[Section8]

All you had to do is show that it wasn’t peeling paint and was just overspray. Send that directly to VA with a request for waiver and VA will clear it. Literally just did it this week. VA asked for some bare wood to be painted. Wrote a letter signed by the veteran that it was pressure treated, suitable for exterior, and he planned to cover it after closing anyway. VA signed off on it. They are very reasonable to work with.

Ok i may definitely be hitting you up if i run into issues, sounds like you've done a lot of this

 

[Mejnoon]

All you had to do is show that it wasn’t peeling paint and was just overspray. Send that directly to VA with a request for waiver and VA will clear it. Literally just did it this week. VA asked for some bare wood to be painted. Wrote a letter signed by the veteran that it was pressure treated, suitable for exterior, and he planned to cover it after closing anyway. VA signed off on it. They are very reasonable to work with.

So…more bullshit. And the buyer has to request the waiver, why should a seller expose themselves to any of that in a competitive market?

 

[saabguy]

So…more bullshit. And the buyer has to request the waiver, why should a seller expose themselves to any of that in a competitive market?

It’s not bullshit. If that was an FHA appraisal it could/would have been seen as a similar issue and there wouldn’t be the same recourse.

I typed up a 3 sentence letter, sent it thru docusign, the buyer e-signed it, uploaded to VA, it was cleared the next morning.