So is anyone else buying a house right now?

Discussion in 'The Backstage' started by Biddlin, Aug 20, 2019.

  1. Biddlin

    Biddlin Well-Known Member

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    I'm in the home stretch of buying a house and getting a mortgage. So far the only people I have met face to face are my agent, Natasha, a clerk from the title company and the seller. I went to a popular website, entered my housing requirements and price range, browsed for a few days, placed a request to see the houses I liked and found my agent all online. I have negotiated the price, gotten an inspection, setup homeowners insurance, tax payments and a warranty included in the mortgage payment without ever meeting the money people in person.
    Very 21st century.
    That's the good and I am happy about it. There's more, but I'll post on that later. Anyone else done this Brave New World house hunt?
     
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  2. donepearce

    donepearce Well-Known Member

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    From the opposite end of the spectrum, when my grandfather died in the early 1960s, my father sold his house. He phoned a small classified ad in to the London Evening Standard and it appeared in that afternoon's edition. The house was sold later that evening. I wish modern technology could match that.

    Best of luck with your purchase, though.
     
  3. Biddlin

    Biddlin Well-Known Member

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    My first house (which cost about 1/3 what a compact car does today) had a "For Sale by Owner" sign on a fence post. I knocked on the door, looked the place over gave the seller a check for "good faith" and had the deal sealed the next day. A simpler time, for sure.
     
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  4. Gahr

    Gahr Well-Known Member

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    Best of luck with the new house,Biddlin! I hope everything works out for you. Any particular reason why you want to move?
     
  5. Biddlin

    Biddlin Well-Known Member

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    Many, but mostly so we have the room we need for my missus' rehab and a place for my studio. We had the bad judgement to get old and disabled just in time for the 2009 recession and ended up losing our home of 25 years to pay the bills. (Yes, we had disability insurance, good luck collecting on that before you die)I found a place to rent that we could afford in an area I knew. For ten years now we've been in a 900 sqft (84m) Sears and Roebuck house from the 1950s. (They literally delivered the lumber and plans and the owner built it.) It has a number of serious structural issues that have become much worse recently. Also our current location is considered to be "dangerous" although we have never had any problems. My next door neighbors are the best I've ever had and I would move them with us if I could.
    Over this period we have saved enough for a down payment, closing costs and moving. The new place is just about double the size with a Jacuzzi tub in the master bathroom and screened back porch. The kitchen is fabulous with tons of counter space, custom cabinets a built in convection oven, conventional range and oven, open views to the living room, dining area and back yard. It is also much closer to our primary doctor.
     
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  6. donepearce

    donepearce Well-Known Member

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    Brilliant effort pulling yourselves out of that hole. And recovery is much quicker when you are in a place that feels comfortable. The very best of luck with this.
     
  7. Biddlin

    Biddlin Well-Known Member

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    I'm kind of amazed myself. Having spent much time in a lumber camp must have rubbed off on me. Just keep hacking away, the tree will fall. Try not to be under it.:cool:
     
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  8. Gahr

    Gahr Well-Known Member

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    Sounds good. Congrats on your new house and thumbs up for your resilience.
     
  9. HackeIommi

    HackeIommi Active Member

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    Have a happy life and fast recovery sir! Sounds like a good bargain :cheers:
     
  10. Biddlin

    Biddlin Well-Known Member

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    Thanks, folks.
     
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  11. Col Mustard

    Col Mustard Well-Known Member

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    Good luck with the New Deal method... I'll be fascinated
    to hear how it works for you.

    I am also on the opposite side of this canyon, getting ready to sell my house and move to a smaller place with no stairs. I've lived here since 2002, and managed to muddle through the economic catastrophe at the end of the Bush ll regime without losing my home. It was close,
    too close for my comfort.

    I was brought up to believe that banking was a
    "respectable occupation." Hah.

    Anyway, since I'm on the other side of the baranqua,
    what I've done is make contact with a realtor I've used
    before. She came and looked my house over, and gave me
    a list of things she thought I could do to make it sell better and for more. She gave me a list of things I should
    NOT do, or waste money on.
    Bedroom@100.jpg
    I've completed the list of essential repairs and upgrades,
    and am in the process of divesting myself of a lifetime of
    accumulated junk. It's not been easy, but I made up my mind to be ruthless. Keeping only essentials:
    music room@100.jpg
    My house is in decent shape, and we've almost completed the purging of the vanities. It's been harder for my lady to concentrate on this part, because of her
    condition. It's been hard for me, because I've spent my lifetime accumulating all these boxes of dusty old forgotten treasures. I've sold a number of guitars, and
    almost my whole gun collection, and even my antique fishing lures!

    As far as the art of the deal, I believe that my realtor will manage a lot of it for me. She told me we could do it
    all online, in case I needed to take Cindy south. I've been considering how to move, and we might end up just renting some place.

    The realtor said that her view of the current market is:
    "If you're going to sell any time between now and five years from now, the closer to now you sell, the more money you're likely to get." Sounds like 2006 all over again. Deja vu, eh?

    I think she knows her stuff. I've worked with her on at
    least three deals in the last thirty years, and we work well together and so maybe this puts me in the "analog
    realty" category... but she is current on modern deal making procedures, so we'll see.
     
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  12. GrumpyOldDBA

    GrumpyOldDBA Well-Known Member

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    Good luck biddlin.

    Its crazy the prices in many areas of the country.

    Our house has been paid off for a long time started with a 30 year mortgage but paid it off in about 15 years.

    If you can pay off as quickly as possible to build equity.
     
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  13. Biddlin

    Biddlin Well-Known Member

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    It really is crazy. The median price of homes currently listed in California is $549,900! The median home value in San Francisco is $1,362,200. Fortunately the market here in the valley is not as hot and I got a deal because the seller is about to retire and wants to cash out and two previous offers fell through.
    I frankly don't see much hope of maintaining a strong middle-class family oriented culture if we continue to make housing insanely expensive.
     
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  14. GrumpyOldDBA

    GrumpyOldDBA Well-Known Member

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    Well prices in Cleveland are reasonable?
     
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  15. realcooldude

    realcooldude Member

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    I bought my truck using Carvana and if I can replicate my experience as much as that when buying a house, I'm going to do my best to avoid realtors as much as possible.
     
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  16. Biddlin

    Biddlin Well-Known Member

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    I had many of the same impulses about realtors when I started my search. Ultimately I chose Zillow as my search tool, entered my preferences, and started looking at the listings. I chose my agent based on reviews and did a broad search for a mortgage through Quicken. My agent is lovely and has been very helpful negotiating the price and closing costs.
     
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  17. jtees4

    jtees4 Well-Known Member

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    Good luck Biddlin! I read your entire post and noticed you did not mention a lawyer. Personally, I would not buy a home without a lawyer that works only for me, and looks out for only my interests. And that is regardless of the State or the customs in individual States. I've bought twice, and sold twice. I will be buying a again soon, and will be using a lawyer. Just me, not trying to tell anyone else what to do.
     
  18. realcooldude

    realcooldude Member

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    I browse listings on Zillow, but I'm not planning on staying in the area for much longer. It does put into perspective how out of control housing costs are in different areas.
     
  19. Biddlin

    Biddlin Well-Known Member

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    I was able to find a house that has been maintained by the seller and he has been very amenable to negotiating over some minor repairs. The average cost/sqft here is $233, mine came in at $197. And we just closed!
    1home.jpg
    Home Sweet Home.
     
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  20. donepearce

    donepearce Well-Known Member

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    How can that price be? Houses round my way are more than ten times that!
     
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