Random Thoughts - Part Deux [NO POLITICS]

[Ultramaroon]

Originally Posted by krayzie

Amazing how everything is still held together somewhat on the surface since 2008. But retail sector right now at least here looks like a deflationary collapse (just walk around the malls).

Well I hope at least most of us here have had our cars paid off.

But we're in different countries. I guess abject greed is universal.

[humfrz]

Originally Posted by cjd

Our current place was purchased with the help of an agent that refuses to be a seller's agent... So his reputatation is in getting people the deal on the right house so they're happy and share their good opinion. His commission is paid out of the purchase price, officially by the seller. You can look at it as conveniently rolling the fee into the loan if you prefer...

I'm still not sure it was worth it. My property tax is far from the worst in the area but is more than many pay as their mortgage

Then there are the upkeep headaches.

Oh, we're supposed to be helping reduce stress right?

When you are a buyer, IMHO, it's best to have your agent as your "buyers agent" i.e. representing ONLY you and NOT the seller. In my 10 years as a real estate broker, I NEVER would act as a "dual agent" ...... I would represent only the buyer OR the seller ...... but not both in the same transaction.

Some of my fellow agents/brokers would say, "but humfrz, you could make twice as much money" by being a dual agent. Well, maybe so, but I was never taken to court, I had a lot of repeat clients ...... and I slept well at nights.


humfrz

[humfrz]

Welcome to the real estate channel ...........


humfrz

[gramicci101]

Ichi, the seller and seller's agent are required to identify any pre-existing issues or damage, even if it's been resolved. Chief of which is water damage. Well, they don't always disclose everything they know, in the hope that if you don't catch it, they're home free. If you're looking on the west or southwest side of the city, research the water table and tell the home inspector specifically to look for signs of water damage, signs that there used to be a sump pump and it was removed, etc... These are frequently found in window wells for finished basements. After you buy the house, it's your problem. You can sue the seller and agent, but it's still your problem to deal with and your property that takes a hit on value. Home inspectors don't catch everything, so when you're doing walk-throughs make sure you dig into everything you can.

If you're looking anywhere around South Jordan, my wife can probably give you more info on the houses, their value, their history, their previous owners' history, and any quirks of the neighborhood than your agent can. The Bored Mormon Wives' Club is better at gathering information on their neighbors than the NSA, and they love to gossip. She follows all their drama.

[bcj]

Developments with a Home Owners Association.
Fees and obligations.

Not even with a bargepole.

[p1l0t]

Originally Posted by bcj

Developments with a Home Owners Association.
Fees and obligations.

Not even with a bargepole.

This x1000 stay FAR AWAY from any kind of HOA. You might as well rent an apartment if you want some miserable fucks telling you want you can and can't do on your own property.

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[Tcoat]

Originally Posted by bcj

Developments with a Home Owners Association.
Fees and obligations.

Not even with a bargepole.

We discovered that when my father in law passed away and we had to sell his house. The rules were so stringent it was ludicrous. And EVERYTHING you want to do costs money.
For sale sign was 6" to far forward. They moved it back. $100 service charge
No garage sales allowed. Had one anyway. $500 fine.
Somebody dropped a dresser creating a 8" divot in the grass. $200 service charge (we were not allowed to fix ourselves)
Had to park on road with moving truck. $20 an hour fee.
Cost over $1,000 just to move and another $3,000 in various other "admin and service fees" to sell the damned thing.

[p1l0t]

Originally Posted by Tcoat

We discovered that when my father in law passed away and we had to sell his house. The rules were so stringent it was ludicrous. And EVERYTHING you want to do costs money.
For sale sign was 6" to far forward. They moved it back. $100 service charge
No garage sales allowed. Had one anyway. $500 fine.
Somebody dropped a dresser creating a 8" divot in the grass. $200 service charge (we were not allowed to fix ourselves)
Had to park on road with moving truck. $20 an hour fee.
Cost over $1,000 just to move and another $3,000 in various other "admin and service fees" to sell the damned thing.

That's criminal.

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[Tcoat]

Originally Posted by p1l0t

That's criminal.

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Yep. But they signed the agreement and we were stuck. Looked into legal and there was not a thing we could do. They even held the place hostage since we could not move forward with the sale until it was all paid.
I seriously don't know why people even want such places but they sell like mad so somebody doesn't care.

[p1l0t]

Originally Posted by Tcoat

Yep. But they signed the agreement and we were stuck. Looked into legal and there was not a thing we could do. They even held the place hostage since we could not move forward with the sale until it was all paid.
I seriously don't know why people even want such places but they sell like mad so somebody doesn't care.

Must be there first time. Or maybe they like having other people make rules for them...

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[soulreapersteve]

Originally Posted by p1l0t

Don't worry a thing like this happened down South in a place called the United States. Eventually the inflated prices collapsed and we entered the "great recession" but things are back to normal now. At least on the surface. During the recession at the young age of 28 I was able to move out of my parents house and buy a house for cheap with the cash I saved up and lucky bets in the stock market. I didn't flip it though, I rent it out now.

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This is what I hope for me. Stockpiling cash like crazy and staying with parents (even though I still get shit from people who keep asking why I haven't moved out yet).

If the timing is right (bubble pops and I still retain my job), I can probably scoop up a decent house for more "normal" prices. Right now, a true piece of shit crack house is selling for 500k here in Seattle.

Originally Posted by krayzie

The thing I've noticed lately is a lot of so-called alternative mortgage lenders advertising everywhere, with storefronts setup by the dozens right in the heart of our downtown financial district (PATH shopping complex).

Months ago I read on the web that one of our subprime mortgage lenders would need a bailout from the gov due to a bank run, long before it was published on MSM.

Amazing how everything is still held together somewhat on the surface since 2008. But retail sector right now at least here looks like a deflationary collapse (just walk around the malls).

Well I hope at least most of us here have had our cars paid off.

Didn't realize it until you mentioned this but went to the mall the other day and it looked a bit... empty. The sales signs isn't helping, from what it seems.

Kinda feared losing my job so paid off car last year. Lo and behold, I actually did lose my job 1 year later so good thing I paid it off 6 years early.

[Sarlacc]

Originally Posted by Tcoat

We discovered that when my father in law passed away and we had to sell his house. The rules were so stringent it was ludicrous. And EVERYTHING you want to do costs money.
For sale sign was 6" to far forward. They moved it back. $100 service charge
No garage sales allowed. Had one anyway. $500 fine.
Somebody dropped a dresser creating a 8" divot in the grass. $200 service charge (we were not allowed to fix ourselves)
Had to park on road with moving truck. $20 an hour fee.
Cost over $1,000 just to move and another $3,000 in various other "admin and service fees" to sell the damned thing.

That would throw me into an epic hissy fit.

I wonder what those people would think if they saw what I'm doing to my property here on the Norwegian west coast... We've fired off a hundred kilos of dynamite, dumped 60 truckloads of dirt and rock in various spots around the neighborhood, the excavator operator likes to work well into the early hours, and we've blocked the neighbors main access road for 2 months now.
People have been dropping by to look, and they all say: "Cool project! This place will look awesome when it's done! If you want to get rid of some rocks/dirt feel free to dump a truckload or two in my yard/parking lot/etc".
No permissions or other paperwork required.

[Tcoat]

Originally Posted by Sarlacc

That would throw me into an epic hissy fit.

I wonder what those people would think if they saw what I'm doing to my property here on the Norwegian west coast... We've fired off a hundred kilos of dynamite, dumped 60 truckloads of dirt and rock in various spots around the neighborhood, the excavator operator likes to work well into the early hours, and we've blocked the neighbors main access road for 2 months now.
People have been dropping by to look, and they all say: "Huge project! This place will look awesome when it's done! If you want to get rid of some rocks/dirt feel free to dump a truckload or two in my yard/parking lot/etc"

AHHHH but did you put a for sale sign 6" out of the approved zone?

[Sarlacc]

Originally Posted by Tcoat

AHHHH but did you put a for sale sign 6" out of the approved zone?

Nope! This place will not be sold as long as I'm around :-)