First time home buyer, advice needed finding realtor
jetset2000
6 years ago
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C Marlin
6 years agoDenita
6 years agoRelated Discussions
First Time Home-buyer Advice Wanted
Comments (10)Also want to add this: assessed value is NOT the same thing as appraised value. One, assessed value, has to do with how your property taxes will be computed in order to be in line with other properties in the same taxing district. It is often a completely different figure from market value. That it is different is immaterial if all the properties in the same taxing unit are similarly at variance with their respective market values according to the local laws regarding assessments. The other, appraised value, (which is what I think you probabaly meant) has to do with a number determined by comparing recently sold, more or less similar, nearby properties to yours and making specific adjustments based on any differences in time, details and proximity to you, to come up with a predictive number for the likely range of price your house might sell for today. It is the number that your lender will use to determine how much they are willing to lend to you with this property as collateral. Since you mentioned being a first time buyer, I thought you wouldn't mind me pointing out this info. If you really did mean assessed value (taxable value) be aware that your lender may completely ignore that number in favor of the appraisal amount. Loans that pay out more than the contract price (i.e. money to make repairs in addition to the purchase price) are not normal loans and may have some added costs due to higher interest rates or conditions. Be sure to ask about this. Typically lenders will lend up to a certain amount of the appraised value and buyers must come up with the rest. Don't take on more house than you can comfortably swing just because you can "qualify" for more. If you are a two-income household, what would happen if one of those income streams was interrupted? Be sure you understand what it would cost to make those repairs. Would the roof see you through another winter? Good luck! L. PS: Everybody stretches a little financially when purchasing a first house, I think. A little stretch is a good thing (teaches financial discipline), but it should be a little stretch in the context of also having some reserves, just in case the little stretch is a mite too far. If it's a little stretch with no reserves, then you're asking for trouble. We live on a farm that when we purchased it was twice what we had been looking at. We had to really scrape by for awhile. But our definition of scraping by didn't dent our emergency fund, or retirement savings, it just meant we had no money for anything else except necessities, including none for fixing up the house. We just opted to live in it for that time until we had built up a cash reserve to make repairs....See MoreFirst time home buyer figuring out how to renovate old house
Comments (5)You're on the right track - the more you learn, the better. "This Old House" is well worth watching, and all their remodels are online. A source of tried and true (if unimaginative) ideas are in house plans; there are many online and it pays to spend time looking at how traffic flow, cabinets, entrances, etc are handled. That said, nothing turns off a contractor faster than an armchair expert, so remain open to suggestions. Given your stated like of modern/industrial, I imagine you have have a good idea of what you want, so you might not need a designer, and perhaps not an architect. Hiring a structural engineer for a few hours to look around and to get their thoughts and advice is a great idea. Realtors, remodeling, contractors, codes, financing - it's all a "Wild West" under-regulated mine field - listen to your people skills, your gut instincts, and common sense....See MoreFirst time home buyer in need of help
Comments (9)Do you really want the house? If not listen to your gut and walk away from it. No matter what price you pay for an 'existing' home you will always think you could have gotten a better price after the fact. You are buying the house because you want to live in it right? If another buyer comes along you may lose out on the house. Then you live with the remorse of having to start searching all over again to find something you like. Too low and offer and you may not even get a response from the owner... especially if they are entertaining higher offers. If you want to buy a house for 150K why not look at homes that are priced in that range? If there are none in that range in your area... the people selling this home probably know that....See MoreFirst time home buyer, need design help (Dining/sitting area)
Comments (4)This looks like a condo unit in either SOMA or Mission Bay in SF. If so, I'm in your neighborhood and would be happy to help you after the New Year. FWIW, I like the direction of the photo you show of the faded red Asian rug with the brown leather chairs. Will add some much needed color and warmth to the space. Check out my Instagram feed: @sabrinaalfininteriors. Or go to my Pro Page here and call my office. Happy holidays! And congrats on your new home!...See Morejetset2000
6 years agolast modified: 6 years agoDenita
6 years agolast modified: 6 years agoUser
6 years agoLaurie Schrader
6 years agolast modified: 6 years agolyfia
6 years agolast modified: 6 years agolyfia
6 years agoUser
6 years agotete_a_tete
6 years agolast modified: 6 years agotete_a_tete
6 years agoDenita
6 years agolyfia
6 years agolast modified: 6 years agoDenita
6 years agolast modified: 6 years agoLaurie Schrader
6 years agolyfia
6 years agosummersrhythm_z6a
6 years ago
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