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UTPhil2006

By UTPhil2006
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mchookem
mchookem

alrighty...i haven't wanted to jinx anything so i've been pretty quiet... but we just closed on our new home in Denver this morning so i can now officially say YEAH! 😃 in a nutshell - we sold

Esque
Esque

Thank you for this - gave me a good laugh.  But also a good reminder of how the general public does not understand what is going on in real estate and thus why so many get caught offsides when the tid

Neonmoon
Neonmoon

Realtor: You should list your house at 500K Client: But three houses down the street sold for 700K Realtor: Yeah, but those are overvalued due to pandemic Fed policy and institutional invest

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GottaB

GottaB 594

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Ain't it great!  We sold out of Seattle last summer, right at the peak.  It is so fine being a genius.   At least for a few minutes.  A day in the life of the unimpressive male.


I lived outside of poulsbo (west of Seattle, west of Bremerton) and bought in 2006 and sold in 2009. I count my lucky stars that I didn’t take a worse beating. The guy before me made 60% on his investment. The guy after me would make 60% if he sold now.

I should have rented it out.
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GottaB

GottaB 594

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Hey, the replaceent we just got is at West Port Madison, at north end of Bainbridge.  Just 8 minutes from Poulsbo.  We definitely like Poulsbo better than Winslow.


Nice area. Or was 10 years ago.

Best Mexican food I got when I was in Washington was on the small Main Street in poulsbo. Casa Luna. Not great but a helluva lot better than the mexi-Fries (tator tots) at the fast food taco place in town.
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UTPhil2006

UTPhil2006 3801

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On 1/13/2019 at 9:38 AM, UTPhil2006 said:

Starting the 15th, we along with our 2 biggest lenders (UWM and Caliber) are offering  the following...

$0 Application/Admin fee (always has been for Shaggy/Surly)

$0 Underwriting Fee (were going to continue this for the forseeable future for Surly users)

$0 Processing fee (new)

$0 Appraisal (new from lender)

So all in all you're looking at around $2,000 in savings.  Let me know if you (or any of your friends - this offer will apply to referrals) have any questions..

PM's are always open but for a faster response you can always email - pdubord@prodigymbo.com

A new program one of our lenders is doing (UWM) is called Jumbo Elite "Break the Bank".. we priced out a Jumbo at in the low 4's this past weekend on one.  The qualifications are 726k-1.5MM loan amount, no more than 43% DTI, 740+ credit.  Closes in 21 days on average.  If this meets any of your needs shoot me a PM or email - pdubord@prodigymbo.com

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UTPhil2006

UTPhil2006 3801

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On 1/13/2019 at 9:38 AM, UTPhil2006 said:

Starting the 15th, we along with our 2 biggest lenders (UWM and Caliber) are offering  the following...

$0 Application/Admin fee (always has been for Shaggy/Surly)

$0 Underwriting Fee (were going to continue this for the forseeable future for Surly users)

$0 Processing fee (new)

$0 Appraisal (new from lender)

So all in all you're looking at around $2,000 in savings.  Let me know if you (or any of your friends - this offer will apply to referrals) have any questions..

PM's are always open but for a faster response you can always email - pdubord@prodigymbo.com

Bumping this post for this page.

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UTPhil2006

UTPhil2006 3801

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  1. Mortgage rates fall to one-year low, setting the stage for a sunny spring selling season

So far this year, the 30-year-fixed has averaged 4.43%, down from 4.54% in 2018

Rates for home loans fell to the lowest in over a year as investors remained concerned about economic headwinds, setting up the housing market for a strong spring season.

The 30-year fixed-rate mortgage averaged 4.35% in the February 21 week, mortgage guarantor Freddie Mac said Thursday. That was down from 4.37% in the prior week and the lowest since early February 2018. The popular product has eked out a weekly increase only once in 2019.

 

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UTPhil2006

UTPhil2006 3801

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 30, 2018

What’s it going to be like for the Houston housing market next year? Hot or cold? Continue reading to find out what to expect for 2019.

It seems that Houston is climbing back up the list of the top markets to watch in the US housing market 2019. According to the “Emerging Trends in Real Estate Report 2019,” the Houston housing market is performing a lot better than it was last year. Claiming the 37th spot (out of 79) on the “Markets to Watch” list, Houston is doing significantly well compared to its spot on the 2018 list (60 out of 79).

It’s not only the Houston housing market doing well; many Texan cities ranked in the top 20. With Dallas-Fort Worth, Austin, and San Antonio at the top of the list, the Texas real estate market is looking strong for 2019. Still, Houston is a contender for real estate investing.

What to Know About the Houston Housing Market

Going back to some important real estate market trends for the Houston housing market, the report also scored markets on investment prospects. Houston scored best in the industrial category, which was followed by multifamily, housing, retail, hotels and lastly offices. The report also cited some relevant factors boosting the Houston housing market for 2019:

  • Higher than average population growth rate
  • In-migration
  • Percentage of younger residents
  • Labor force participation rates
  • Gross metropolitan product per capita
  • Business startup activity
  • Above average investor demand

Now, we’ve already mentioned multiple great points about the Houston housing market, but let’s circle back to real estate investment. How will Houston investment properties actually perform in the 2019 real estate market? Mashvisor’s investment property calculator has summarized data on the key return on investment metrics for rental properties. If you’re a Houston real estate investor (or want to be), check out these numbers.

Houston: City-Level Data

  • Median Property Price: $410,143
  • Price per Square Foot: $171
  • Average Days on Market: 81
  • Price to Rent Ratio: 17.21
  • Monthly Traditional Rental Income: $1,986
  • Traditional Cash on Cash Return: 1.59%
  • Traditional Cap Rate: 1.59%
  • Monthly Airbnb Rental Income: $2,139
  • Airbnb Cash on Cash Return: 0.54%
  • Airbnb Cap Rate: 0.54%

Considering low-cost and luxury properties are on the spectrum of the Houston housing market, the median property price isn’t too high. You can see just how hot Houston real estate is by the low days on market. This is great news for sellers. Buyers and rental property owners can take advantage of the price-to-rent ratio, which tells us that it’s cheaper for Houston residents to rent rather than own a home. The average ROI metrics (cash on cash return and cap rate) aren’t as high as some investors would like, but it’s important to remember that these are average returns. So you can definitely find neighborhoods that perform at higher rates than the city-level, especially when it comes to Airbnb Houston rentals.

Final Words on the Houston Housing Market 2019

The Houston real estate market is steadily making its way back to the top. It’s definitely a market you want to enter. Homes sales are increasing in the Houston housing market, and it doesn’t look like they’re slowing down any time soon. Investors are closing deals on houses as fast as they can. There are low zoning barriers to entry, low cost of living, strong job growth, and strong returns.

 

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UTPhil2006

UTPhil2006 3801

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https://finance.yahoo.com/video/housing-foot-spring-season-161512728.html

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Danielle Hale, Realtor.com Chief Economist, says she sees optimism in pending home sales seeing as they were up about 5% and expects “housing to get on the right foot as we move further into the spring season.” Yahoo Finance’s Alexis Christoforous speaks to her.

 

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Sbbruin

Sbbruin 21828

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OK finance and mortgage pros, debating whether or not to post this here or in the stupid wives thread.  But anyway- our house is in my name only.   All credit cards are in my name only.  The only thing her name is on is our bank and investment accounts and her car, because I bought it cash.  Why?  Because I have a credit rating of 800 and hers must hover around 1.  She is financially retarded.  After fighting the battle for a dozen or so years to try to get her to get her shit together, I just said fuck it and I pay ALL bills and manage all finances.  It has lead to a more harmonious relationship.  But she yesterday said “I want to be put on title to the house right away.”  I tried to explain that our 2.75% 15yr fixed mortgage is based on my credit and our low LTV.  The mortgage co is not going to automatically add a credit risk individual to title under the same terms and conditions.  She refused to accept that.  Um, that is financing 101.  Under no circumstances am I going to lose the sweetheart terms I have just to put her name on it.  But before I bother exploring this possibility, can I safely assume the lender (CashCall/IMPAC) is going to laugh in my face?  LTV is probably 35-40%. 

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GottaB

GottaB 594

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OK finance and mortgage pros, debating whether or not to post this here or in the stupid wives thread.  But anyway- our house is in my name only.   All credit cards are in my name only.  The only thing her name is on is our bank and investment accounts and her car, because I bought it cash.  Why?  Because I have a credit rating of 800 and hers must hover around 1.  She is financially retarded.  After fighting the battle for a dozen or so years to try to get her to get her shit together, I just said fuck it and I pay ALL bills and manage all finances.  It has lead to a more harmonious relationship.  But she yesterday said “I want to be put on title to the house right away.”  I tried to explain that our 2.75% 15yr fixed mortgage is based on my credit and our low LTV.  The mortgage co is not going to automatically add a credit risk individual to title under the same terms and conditions.  She refused to accept that.  Um, that is financing 101.  Under no circumstances am I going to lose the sweetheart terms I have just to put her name on it.  But before I bother exploring this possibility, can I safely assume the lender (CashCall/IMPAC) is going to laugh in my face?  LTV is probably 35-40%. 

Tell her you’ll do it when her credit score reaches 750.
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royiv

royiv 9244

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1 hour ago, Sbbruin said:

OK finance and mortgage pros, debating whether or not to post this here or in the stupid wives thread.  But anyway- our house is in my name only.   All credit cards are in my name only.  The only thing her name is on is our bank and investment accounts and her car, because I bought it cash.  Why?  Because I have a credit rating of 800 and hers must hover around 1.  She is financially retarded.  After fighting the battle for a dozen or so years to try to get her to get her shit together, I just said fuck it and I pay ALL bills and manage all finances.  It has lead to a more harmonious relationship.  But she yesterday said “I want to be put on title to the house right away.”  I tried to explain that our 2.75% 15yr fixed mortgage is based on my credit and our low LTV.  The mortgage co is not going to automatically add a credit risk individual to title under the same terms and conditions.  She refused to accept that.  Um, that is financing 101.  Under no circumstances am I going to lose the sweetheart terms I have just to put her name on it.  But before I bother exploring this possibility, can I safely assume the lender (CashCall/IMPAC) is going to laugh in my face?  LTV is probably 35-40%. 

Which one of you is cheating?

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Sbbruin

Sbbruin 21828

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18 minutes ago, royiv said:

Which one of you is cheating?

Actually I think the trigger is one of her close friends is getting divorced after being married for less than 2 years- she, a single mom having 2 teens, married a rich guy but it seemed doomed from the start.  He bought a house himself that they moved into together but now she is getting tossed out.  My wife has always, mostly jokingly but maybe not, harbored the fear that a mid-life crisis will find me running off with a 20-something stripper.  Hell, who HASN’T dreamed of that?!  She doesn’t put a lot of faith in our 30 years together, 23 of which we’ve been married, I guess.

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hornian

hornian 5210

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1 hour ago, Sbbruin said:

OK finance and mortgage pros, debating whether or not to post this here or in the stupid wives thread.  But anyway- our house is in my name only.   All credit cards are in my name only.  The only thing her name is on is our bank and investment accounts and her car, because I bought it cash.  Why?  Because I have a credit rating of 800 and hers must hover around 1.  She is financially retarded.  After fighting the battle for a dozen or so years to try to get her to get her shit together, I just said fuck it and I pay ALL bills and manage all finances.  It has lead to a more harmonious relationship.  But she yesterday said “I want to be put on title to the house right away.”  I tried to explain that our 2.75% 15yr fixed mortgage is based on my credit and our low LTV.  The mortgage co is not going to automatically add a credit risk individual to title under the same terms and conditions.  She refused to accept that.  Um, that is financing 101.  Under no circumstances am I going to lose the sweetheart terms I have just to put her name on it.  But before I bother exploring this possibility, can I safely assume the lender (CashCall/IMPAC) is going to laugh in my face?  LTV is probably 35-40%. 

Why does your lender care who is on the deed? I'm the only one on my loans (on both of my houses, because I'm shaggy 1%), but my wife is on both of the deeds. 

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Sbbruin

Sbbruin 21828

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18 minutes ago, hornian said:

Why does your lender care who is on the deed? I'm the only one on my loans (on both of my houses, because I'm shaggy 1%), but my wife is on both of the deeds. 

I guess that’s my question.  Would they care?

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hornian

hornian 5210

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1 hour ago, Sbbruin said:

I guess that’s my question.  Would they care?

They didn’t in my situation, either time  

You might need to contact them to make sure they don’t consider adding her to the title an event that would cause you balance to be due in full. It shouldn’t, but better safe than sorry. It is definitely an ask permission not ask for forgiveness situation. 

Edited by hornian
Me no spell good.
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Doc Sam Beckett

Doc Sam Beckett 5792

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17 hours ago, royiv said:

Which one of you is cheating?

 

17 hours ago, Sbbruin said:

Actually I think the trigger is one of her close friends is getting divorced after being married for less than 2 years- she, a single mom having 2 teens, married a rich guy but it seemed doomed from the start.  He bought a house himself that they moved into together but now she is getting tossed out.  My wife has always, mostly jokingly but maybe not, harbored the fear that a mid-life crisis will find me running off with a 20-something stripper.  Hell, who HASN’T dreamed of that?!  She doesn’t put a lot of faith in our 30 years together, 23 of which we’ve been married, I guess.

That's a long way of saying it's you.... 

Q4PfPc.gif

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Sbbruin

Sbbruin 21828

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12 hours ago, Gil Bang said:

CA is a community property state. She owns half the house anyway.

But, if you must, consider doing a revocable trust. The lender will let you put the house in a trust.

I’ve to

d her she owns half our shit no matter what.  I think she just wants confirmation before she steps out on me.

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hornian

hornian 5210

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1 hour ago, UTPhil2006 said:

Yeah the CA community property state was my first thought.  No reason to blow a great rate.

Eh, there are so many exception to community property rules in Texas that I'd rather be safe than sorry. Getting her added to the deed shouldn't have any impact on the deed of trust/mortgage. Those are separate things. My wife is on the deeds, but I'm the only one on the deeds of trust and mortgages. 

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UTPhil2006

UTPhil2006 3801

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On 3/9/2019 at 6:17 PM, Gil Bang said:

 

That would be an interesting job, but I'd love to read what the appraisal aspect of it would say.  "Well normally this would be a 400/sq ft home but OJ got away with murder here so I tend to lean towards valuing it at 250/sq" 

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52-80

52-80 19142

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On 3/8/2019 at 11:03 PM, hornian said:

Why does your lender care who is on the deed? I'm the only one on my loans (on both of my houses, because I'm shaggy 1%), but my wife is on both of the deeds. 

whats the shaggy cutoff percentage when one no longer has loans?

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UTPhil2006

UTPhil2006 3801

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Mortgage Rates Drop to New 14-Month Lows

Mortgage rates dropped convincingly today, bringing them to new long-term lows.  The average lender hasn't offered anything lower for more than a year (January 2018).  The improvement came on a combination of news headlines, economic data, and the scheduled sale of US 10yr Treasury debt.   

The news headlines in question pertain to Brexit.  To oversimplify a complicated topic, there had been some hope for a compromise Brexit deal overnight.  Such a deal would ease some concerns about uncertain market outcomes.  That uncertainty has helped keep rates lower, so clearing it up meant upward pressure on rates.  As the day progressed, however, the compromise deal fell apart, and rates moved lower accordingly. 

 

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UTPhil2006

UTPhil2006 3801

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On 3/15/2019 at 3:28 PM, UTPhil2006 said:

10 year is  now In the 2.5’s now closing at 2.59 which is a 14 month low. 

Dipped to 2.55, around 2.58 now.  Fed meeting today should go a long way to what we're gonna see as buying/selling spring and summer season start up.

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UTPhil2006

UTPhil2006 3801

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15 hours ago, Sbbruin said:

Should keep prices buoyed out here.  Pricing had started to really stagnate.

Yeah the increased balanced sheet buying through Sept 19 should keep rates pretty solid through the buying/selling summer season. This news was kind of already priced in. It may dip a little bit more but we’re kind of in that sweet spot right now. 

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Gil Bang

Gil Bang 25907

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Painting and getting the last of the personal property out.  Stagers coming in a week or so.  Then it'll list.


Oh hey Bruin: I’m pretty sure that your city requires a city building Department inspection before a sale. Double check with your agent.
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Sbbruin

Sbbruin 21828

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2 minutes ago, Gil Bang said:

 


Oh hey Bruin: I’m pretty sure that your city requires a city building Department inspection before a sale. Double check with your agent.

 

Will do.  She is one of the top agents in our area, so I'm sure she's on what needs to be done.  But I have not heard of that being a requirement.

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Gil Bang

Gil Bang 25907

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Actually, most cities on L.A. county now require it.  It used to be the shithole towns in East L.A. where there would be a family of 8 living in a garage conversion, but it's spread. 

OC does it in a few cities, Newport being one of them.  A few of the desert towns in Riv Co. do it...Palm Springs is one. 

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