Buying House? What the hell do you do?· Page 2

wpr
Preferred Member

3 years ago

And what I'm gathering from your advice here is now isn't he optimum time to buy a house? I should just rent a shack for a year and hope the market gets favorable for buyers next year?

Originally Posted by: Zero2Cool

No. I don't think so. Building materials are sky high. Cost to build a new home is up too. I'm sure it bumps the market for older homes as everything gets squeezed. I can't speak of the market in Greater Green Bay but I don't think these houses are competing with new home buyers. People who are looking to build may decide to hold off and stay where they are but I don't see them moving from where they are now into your home. It's probably similar to what they have so why move?

Buying the home has several factors. Are you buying your forever home or a stepping stone house to something bigger/grander? If you plan to stay there for 10 years or so the market price today won't really matter. If you plan to move in two years it would matter if the market turns down.

wpr
Preferred Member

3 years ago

#12

I went back to look at the Velp house again. The photos and the lack of other rooms makes me wonder. I've taken a lot of pictures of houses in the past 30 years. I have hidden a lot of things that I didn't want underwriters to see. Why are there so few photos? I would be cautious.

olds70supreme
Member

3 years ago

#13

It is amazing what can be hidden in photos, and/or how much better it can look in photos than real life (flashbacks to my house search years ago lol).

Buying the home has several factors. Are you buying your forever home or a stepping stone house to something bigger/grander? If you plan to stay there for 10 years or so the market price today won't really matter. If you plan to move in two years it would matter if the market turns down.

Very good advice.

blank

Cheesey
Preferred Member

3 years ago

#14

The two places I've been most interested in thus far are as follows.

Also, why can't this shit all be on one website for houses? Why so many? My goodness.

https://www.realtor.com/realestateandhomes-detail/2578-Tulip-Ln_Green-Bay_WI_54313_M79232-83113

I like this one the most because it doesn't feel like the neighbors will be creeping while I'm walking around naked in the living room.
https://www.zillow.com/homedetails/12581-Velp-Ave-Green-Bay-WI-54313/51159288_zpid/

Originally Posted by: Zero2Cool

Kevin, the first house you listed- I would check out the upstairs bedroom. Reason is, one of my friends bought a house with a similar upstairs bedroom. It was springtime when they bought it, and come winter they found out that bedroom did not have decent insulation. They about froze up there. So I would be sure to check that out.

Zero2Cool
Elite Member Topic Starter

3 years ago

#15

I was thinking this over last night. What do I want? What do I need?

Honestly, I just want a place to call home that no one can tell me to leave.

It will have at least two bedrooms, one full bath with at least a second toilet and a garage. The rest of the stuff is kind of bleh to me. I want the outside to be decent looking, but doesn't need to be immaculate. The same goes for the inside. I don't like walls that have been painted 20 times.

dfosterf
Veteran Member

3 years ago

#16

I have read this thread, lots of good advice. Let's talk money for a second, and proceeding with the plan to avoid a pushy re agent.
The first thing Kev needs to do is get pre-appoved for a mortgage loan. He cannot make an offer that would be accepted without it. He is going 95 ltv. That's fha. Does he know about the offer sheets sitting in re offices? Does he know that his own bank or some online source have the best deal, or likely do not? Does he know which banks have the best appraisers in a rising market? Does he have any influence due to volume on those appraisers? Does he know the relative documentation requirements of the various lenders? OK, he wings it, let's assume he gets lucky and somehow picks the best combination of the above.
He decides to make an offer. He will be calling the listing agent. He will have no idea as to authenticity of the list price relative to its true market value. Is it inflated by the owners perception of its value? A buyer agent can analyze that pretty much instantly, and advise Kev accordingly. He can also present the offer in concert with a selling agent to get the seller to come to his senses, so to speak. Without an agent of his own, he will be writing his offer to the selling agent and awaiting a response from the seller, with no input. The selling agent cannot advise Kevin to make any other offer but full price. The best he can do is tell Kevin that he must present all offers, and cannot disclose that the seller is fuckkin' nuts for listing at this price, for example...
The offer is accepted. Does Kev know which inspectors are the best bang for the buck? Which ones do the best job, the most knowledgeable, especially as regards HVAC...
The appraisal comes back 4,000.00 below contract price. Does Kev know how to negotiate getting the seller to eat that...there are "tricks to the trade" and now we are dealing in emotions...

Inspector finds shit. What should Kevin let slide, what should Kevin insist on correcting? Buyer agent can give him advice...

Flood plain. 100 yr 1% likelihood. It is not eyeballed. FEMA establishes it, FEMA moves it. Wayne can tell you what happens when a lender makes you get Flood insurance, and your buyer agent can show you where your prospective house is relative to those lines. I can go on, but running out of characters. As far as appreciation..If interested I can discuss that also, a lot was left out.

Zero2Cool
Elite Member Topic Starter

3 years ago

#17

Originally Posted by: dfosterf

Summer 2016 I was approved for $200,000. My credit score is higher and I'm earning more now. I should fall into that same ballpark.

I do feel most people encourage an agent of some kind. I was talking to someone and she said most agents get money by word of mouth. That their best interest isn't getting a large percentage of the sale, but getting YOU to tell OTHERS about how good they are. That was encouraging to me.

dfosterf
Veteran Member

3 years ago

#18

I have bought and sold in many states, a licensed realtor in three. While I always sell myself in the states I was licensed in, I NEVER buy without an agent, for a couple of reasons I already mentioned, but there are so many more, including psychological warfare when shit goes south in the process.
Here is how I get a buyer agent when I am going in blind:
I call the RE office and ask to speak to the Office broker. I ask him if he also sells. If yes, I ask if they want to take on a buyer agency relationship or hand it off to an agent. I tell him I want a numbers agent, not a decor agent. Let's pretend it's him. Where we at on rates and points? How are the appraisals coming in? You got a good one? Any falling through? This 4.2 looks like a dead cat bounce to me, what do you think? (Current published local market appreciation rate) Which do you prefer, 2 by 8 on 16's or 2 by 10 on 24's.. just curious..

If I like those answers, I ask him to pull what I'm looking for and set up a time to review and sign the buyer agency agreement. That would usually be zip code, greater than or equal to 3 br 2ba no pool no oil city water and sewer no flood plain no high crime will discuss school systems, highlight brick, block ranch see you in an hour
Oh, and when I walk into a prospective home, the first thing I do is jump up and stomp on the floor. It tells me something about build quality in approximately one second. Try it.

dfosterf
Veteran Member

3 years ago

#19

Take strong note I keep referring to him vs her. This is no accident. In my experience, cleavage sells more homes than true expertise ever did. Call it misogynistic if you want, but this is the reality. Housewives trust female agents, especially when kitchen time comes around, husbands like looking at hot realtors.. I could go on...male realtors have to bring more to the expertise table in order to succeed at the same level. Sue me for saying so, but trust me on thus also.. The MOST successful realtors don't even deal with buyers most of the time, but that does NOT make them the best AGENTS!!!

Zero2Cool
Elite Member Topic Starter

3 years ago

#20

Originally Posted by: dfosterf

I agree with you. I don't have a wife or that female presence to consider and I'm not swayed by boobies. I'm very much a numbers over all kind of guy.

This is a house for me and my youngest daughter (8 years old), Scarlett. And it's a place I envision riding into my retirement with and probably dying in. The intentions are a forever home, not a fix it up and bail thing.

I like this one, but I don't want to submit any offer that exceeds $190,000.
https://www.coldwellbanker.com/property/2557-Haven-Rd-Green-Bay-WI-54313/75853785/detail?src=list

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