For the last several years, my local market has had 2-3 months of inventory available. That bothered me, but I understood. The housing crash left a lot of people underwater, so I figured there were a lot of people who simply couldn’t afford to sell. I also figured that as prices rose, a certain percentage (not all) of those people who finally had equity would sell.The TV and radio have ads from large companies and local players that say they’ll buy your house today for cash with low hassle. At least one says they’re ok with negotiating your short sale as part of the deal and give you a moving allowance. Not sure how many properties are moving this way, but my data source says 26% of December closings were cash so I’m treating that as max. While some of those properties are going back on the market, others are becoming rentals.I can’t go a week without hearing an ad on the radio for a seminar to either get rich in rental properties, get rich flipping houses, or get rich wholesaling. That’s on top of the dozen TV shows making flipping seem like easy money, one based in my market.But yesterday I got an email from one of my old title/escrow contacts. Apparently prices on closed properties are up 15% year over year. Now granted, the Dow is up 25%, but this can’t possibly be sustainable.Am I being reasonable? Are there signs of a bubble in your area?
Yet another interesting headline in the world of health and well-being. Ancient Turkey Bones In Mexico Reveal A Strange Relationship With Humans
New tests reveal humans have long raised the birds, and not just for food. Ancient Mesoamericans were buried with turkeys, perhaps as snacks, companions or status symbols. There was even a turkey god.
The appraisal came back short a bedroom, the house is 4bedroom 1 bath. The appraisal has it shown as 3b 1ba and is being comped to other 3b 1ba houses in the area. Also, the house has no garage, but there is a temporary structure on skids that’s being used as a carport. Can structures that aren’t permitted be included in the appraisal?
Yet another interesting headline in the world of health and well-being. Researchers Discover ‘Anxiety Cells’ In The Brain
Scientists who identified specific brain cells in mice that control anxiety say the discovery could provide insights that might eventually help people with panic disorder and social phobia.
This may seem like a silly question, but I’m not super clear on how the money changes hands when buying a property in cash. Every article under the sun seems to talk about getting a mortgage. There was a post on reddit about proving you had the funds with a bank statement or letter, does this get sent along with your offer? I would assume it’s not advantageous to offer 150k but then the buyer sees you have much more in your account? And then lets say the buyer accepts, are there standard protocols like you must get a bank draft and then send it to the real estate/lawyer’s office of the buyer?
[NJ/PA]Just asking in the abstract, not thinking about doing so at this time.Obviously the most economical situation would be to find an existing home that already meets all your desired specifications. But if you can’t find one, most people would consider renovating an existing home to make it their own. But this can get very expensive. So I’m wondering if it is ever more economical (or at least comparable, or not vastly more expensive) to build your own home.This could include buying an empty plot of land and building your desired structure on it, or else buying land with a house already on it, knocking that down, and building from scratch. If the latter, are you basically buying two houses?Lastly, of course building a home is a really intensive, detailed process that requires the buyer to make a million little design decisions. This alone might scare some people off from new construction. But ignoring that and focusing on the financials alone, is there any scenario where building your own home is financially competitive compared to buying and massively renovating?Edit: By “build your own home”, I mean hire professional contractors to do the work. Literally building it yourself would probably be cheap as hell, but most people would be unable to do that.
I am a second year college student and I am really interested in becoming a realtor. I was wondering if it is manageable to try to get licensed while being a full time student??I know I don’t need to go to school if I am going to be in real estate so please don’t tell me I’m wasting time or money. I just want to know how hard it is or how long it would take to get licensed, and if it would be manageable as a student.
A relocation rider was added to the purchase agreement for a house we are trying to buy. One term is if we don’t close on time we’ll be charged a “1.5% per diem based on the Contract sales price.” Our realtor claims this means that amount is divided by the days of the month but I read it literally as 1.5% per day which seems ridiculous. This would work out to over $4k a day being charged rather than the customary 100-200. What is the real estate interpretation of this? Can I trust my realtor?
Yet another interesting headline in the world of health and well-being. How To Drive Down Smoking In Groups That Still Light Up
Only around 15 percent of adults in America smoke — but that still leaves 40 million people who smoke cigarettes, and many of them belong to the most vulnerable population groups.
Yet another interesting headline in the world of health and well-being. The Microbial Eve: Our Oldest Ancestors Were Single-Celled Organisms
Consider this: Evidence points to a microbial Eve as our first ancestor — a tough, underwater organism withstanding extremes that became every other creature to ever live, says Marcelo Gleiser.