USA: what site do you use to browse real estate?
robo (z6a)
6 years ago
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Comments (51)Well, things are chugging along. The things that were either wrong or annoying about the place have taken a bit more time to fix but nothing has been a horror story so all in all I am pleased. When they removed the faulty previous renovations to the attic (made into an office and bedroom) I thought there might be a lot of rotting wood because of the way things were stained on the siding outside. But rot was minor. The main focus has been getting that area updated since it was in such poor shape. The corrections to the supports and the installation of skylights really opened up the room and the whole thing has now been blessed by the county inspector (yay! a big relief). This old house was built solidly but out of two by sixes whereas now things would be made out of much bigger lumber - so getting things blessed by structural engineers can be tricky. Currently the work is focused on moving the massive HVAC unit from the sunny front of the house to the shady back of the house, building a false chimney up the outside wall to carry the ductwork upstairs to the home office. This involved cutting new holes into the brick foundation wall and re-working all the ducts throughout the house. The old system was patched and in some places just homeowner done and not efficient. The problem now is that I really want to use as much of the basement as possible as a workshop but getting the duct guys to understand me has been difficult. There are certain rules about how sharp a turn and how many feet a duct can travel and I want as much of the ductwork as possible out of the way which doesn't look like it is feasible. So in order to get from one end of the room to the other I am either going to be stepping over ducts or stooping under them a couple of times. Not what I wanted. Most of the problem is that the HVAC unit that came with the house is monster big (actually a good thing), the previous owner didn't have it ducted the right way so it was unable to cool or heat every room and he used small ducts. My crew is putting in these massive ducts which will do a great job of keeping things ventilated and cool but I will sacrifice workspace down in the basement - so I should shut up and quit complaining. The previous owner has never shown up to finish hauling off his junk. My understanding is that he really fell on hard times financially and just couldn't get it together. I've been piling it up and having the workers add it to their loads to the dump (and I've been paying for that pleasure). In addition to all that - I been fixing up my current house to put it up for sale and things are going s-l-o-w. I had such big plans about really going through everything and tossing out the stuff I don't use or need but that just takes way too much time. I'm down to throwing stuff in boxes and piling them up in the corner and hoping that someday I will be able to go through it. The realtor winced when she saw how much clutter I have (and my house is only a quarter of how cluttered my parents house is) and she suggested I find some newer appliances for the kitchen. She also warned that looking at the numbers I should not expect to get much for the house - so that's a bummer, but things are changing everyday so by the time I have it ready to sell and the new house is ready to move into the situation might be better. You asked for numbers: My final low ball offer was just under $30,000 of the debt owed by the seller (remember I thought I found the actual payoff amount online but I was wrong. So I went in thinking I had the facts when in reality I was way off). This made it a short sale and his lender took about a month to accept my offer and forgive the rest of his loan (remember he was about to foreclose). Then my lender appraised the place at $20,000 less than my low ball offer and I said I would only pay the appraised amount. His bank took one week to accept. The realtor pointed out in the closing that the final price was less than half of the original asking price - so it sounds like I got a great deal but the houses value dropped even further after I bought it. So I got it for a song but if things had drug out for one more month I could have saved another $35,000!!!...See MoreLaughable real estate taxes
Comments (41)jillinnj that's a great link. It points out a factor that I think we keep missing here with our comparisons and justifiable rants. The tax on a property is relative to the income of the owner. The house highlighted in the original post has high property tax, but if the owner income is proportionate the taxes are not a burden. My original question was what do you pay as a *proportion* of income because I think that's a more realistic indicator of impact on lifestyle. I'm wondering if people in NJ, for example, are more likely to be house poor because of the ratio of income to tax or if the people in TN are living a relatively easier life with more *proportionately* discretionary income. Everything is relative. My DH could not earn the same income he currently does in a small town in TN but an equal house in terms of size and amenities would probably cost significantly less and be taxed far less. It *could* have a significant impact on lifestyle. Quality of life is a very subjective qualifier - I might hate small town life in TN or I might hate city life in NJ but I don't know of another way to get the same sense of what it costs to live where. Certainly there will always be very high incomes in low cost of living areas but not likely to be the norm. But in some places a property owner really has to be in a high income bracket nationally just to be able to afford housing. It's not easy to make this an apples to apples comparison....See Morewhere do gardeners look for real estate :) ??!
Comments (9)You could hang up notices at garden-y type places: garden centers, coperative extension offices, farmer's markets, various plant-type specific clubs (e.g. daylily, orchid, bonsai, etc.) these groups often have newsletters that you might be able to put a notice in, or buy an inexpensive ad. A 1500 sq. ft. greenhouse is a major garden-related improvement, though, so you'll need to wade through a lot of garden-dreamers to hit pay dirt with someone would not only like it (and know what to do with it), but could also afford to buy it. You might also see if there are on-line local garden groups where you could discretely get the word out. Any specialized amenity, whether a greenhouse or endless-wave pool, or wind generator and everything in between creates re-sale challenges. We have a private airstrip on our farm; I once asked a real estate appraiser whether it was a good thing price-wise and I was surprised to hear, "No"! Goodluck to you. Molly~...See Morebuying/selling real estate qld style.
Comments (13)There are good agents and bad ones. The system down here is like an e-bay acution. The advert reads offers above $X. I'm used to a system where the vendor states their price, and the vendee (?) offers under that price and they compromise somewhere in between. Well the last 3 realestate purchases we have made, have worked on the old system - we have been happy, the sellers have been happy, the agents have been nice. All the agents that work on the dutch auction system seem to be "ar53h0135" if you don't mind be saying so. Daughter has had similar experiences. we nearly bought a house as a rental investment. I made an offer, the agent said they had a higher bid, I said tough. The agent pestered me for a week. Then he told me 2 weeks later that the previous offer had fallen through, so we were back in the running. I told him I had lost interest. He told me I knew nothing about buying investment properties. I swore at him and hung the phone up loudly in his ear. end of story. How does the dutch auction system work? Well - you put in a bid. They tell you they have a higher bid, and pester you to raise your bid, but they don't tell you how much has been offered, or by whom. etc, etc. FGS they might not even have another person bidding, like in the case I described above. It sucks big time. Another thing I have learnt about buying real estate ..... get a survey done before you buy. Make sure the land fits the description exactly. 3 times it hasn't for us. twice it has worked out in our favour, and not been disastrous. The last time we pulled out of the contract because of the survey. Lucky for the vendors, or we would now own not only the land they were selling, but 1/2 their house that they weren't selling. It had been built across the boundary of 2 blocks. The agent doesn't really tell you any of that. Our solicitor told us to check it. A conveyencing officer will do the conveyencing cheaper than a solicitor, but they might not tell you to check the boundaries, and it is the responsibility of the purchaser to do that....See Morerobo (z6a)
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