All Encompassing Mortgage and Real Estate Thread

[Assman 1830]

I'm not sure what you guys are seeing down there, but we've definitely seen a cooling off period here in DFW.  Lots of price reductions and homes sitting on the market longer.  Prices are still way more than 6 months ago, but it's a start.

[Okie State 3821]

Same around me in Houston burbs. It was crazy for a while, but almost nothing new popping up in the neighborhoods we're looking at. A few overpriced ones sitting for over a month now.

[CooterBrown 18014]

Don’t markets normally slow seasonally when school starts?

[Okie State 3821]

Yeah. I assume that's what's happening here.

[UTPhil2006 3807]

48 minutes ago, CooterBrown said:

Don’t markets normally slow seasonally when school starts?

Yep. It’s fairly common for end of summer. 
 

Also yes Redfin and Opendoor are not very good 

[Hefeweizen 5324]

9 hours ago, CooterBrown said:

Don’t markets normally slow seasonally when school starts?

Yes every market I work in sees peak sales in June, slowdown in august.  Austin is still absolutely insane right now and nothing locally is going to help prices stabilize or stop rising.

[Gil Bang 25961]

16 hours ago, UTPhil2006 said:

Yep. It’s fairly common for end of summer. 
 

Also yes Redfin and Opendoor are not very good 

If by "...are not very good" you mean "really fucking suck" then I agree. 

[Steel Shank 9426]

20 hours ago, Steel Shank said:

I may have misheard, but is the Austin median home sales price supposed to increase 30% from 2021 to 2022?

Anybody?

[Steel Shank 9426]

dp

Edited August 15, 2021 by Steel Shank

[UT_OB1 2224]

9 minutes ago, Steel Shank said:

Anybody?

I believe you misheard. You missed two zeros. 3 THOUSAND percent. Enjoy your property taxes. 

[UTPhil2006 3807]

34 minutes ago, Gil Bang said:

If by "...are not very good" you mean "really fucking suck" then I agree. 

I was trying to be PG with it. The one Redfin deal with did (the other side had them) was nothing short of a nightmare 

[Neonmoon 38129]

My realtor guy in Austin says the market is starting to level off and return to normal seasonality. I don’t live in Austin anymore, but in case anyone was waiting to buy. 

[jimmyjazz 45963]

On 8/14/2021 at 8:09 PM, Steel Shank said:

I may have misheard, but is the Austin median home sales price supposed to increase 30% from 2021 to 2022?

Going forward?  I haven't heard that.  It's roughly in line with the increase from 2020 to 2021.  A couple of months ago I heard a forecast for another 10% by end of December.  I'm not sure that's happening, it seems we're showing signs of the typical price cooling approaching the fall, at least in NW Austin.

It also depends on where you're looking at Austin proper or the MSA.  Finding clear reporting is difficult.

[Steel Shank 9426]

1 hour ago, jimmyjazz said:

Going forward?  I haven't heard that.  It's roughly in line with the increase from 2020 to 2021.  A couple of months ago I heard a forecast for another 10% by end of December.  I'm not sure that's happening, it seems we're showing signs of the typical price cooling approaching the fall, at least in NW Austin.

It also depends on where you're looking at Austin proper or the MSA.  Finding clear reporting is difficult.

It must have been 2020 -> 2021.  Still damn crazy.

[mchookem 16336]

Austin soon to be more expensive than NYC?

really?

and does that make me nuts for planning to pull the cord and bail out in 6-7 months ?? 🤨

[DonkeyCigars 143]

The new construction build model of them building the house and taking bids over zoom still seems to be the norm. I wonder if we will ever go back to the old way.

[Dbeasy 15052]

I have some advice for people considering using a weak real estate agent or discount broker/agent to list their home or buy a home. Without giving the long, detailed story of my own experience, basically I got a real estate license because I was sick of bad agents.  I started doing my own deals, which included rental homes. I now do this for friends and family among other business interests.  This morning is a perfect example of the potential lost dollars of using bad agents.

There was a listing that went out this week.  But because of technical glitches in the systems, only a portion of the internet sites were seeing the listing. Bad agents typically not only don't spend any time at all ensuring the listing is propagating properly across the internet, they often don't even know what sites people use to search for houses. Yes, they are that bad at their jobs.

If this error hadn't been caught, it would have meant substantially lower traffic in the house and ultimately lower and fewer bids.  This is just one example of the importance of using a highly, highly competant realtor. I get it. I hated the commissions realtors earned.  But I can now tell you from personal experience that there are a thousand little details just like this that are critical for achieving a successful real estate transaction outcome. 

Most poeple don't realize it.  They just think that some family friend with a license that does transactions did a great job because they were so friendly and helpful.  Or maybe the houses they listed sold quickly.  They don't realize that thousands of dollars were lost in the process somehow.

[jimmyjazz 45963]

So, you screwed up a listing, didn't you?  

[Murfdogg21 4412]

On 8/16/2021 at 12:08 PM, Steel Shank said:

It must have been 2020 -> 2021.  Still damn crazy.

We were crunk when we sold our central Austin (Mueller) house in March for 26% higher than houses of the same floor plan sold for in 2020. Then a couple others in the neighborhood sold for $50-100k above what we got and we played tiny violins of sadness. Since July 1, prices for similar floor plans (bed, bath, sqft) have dipped slightly below what we got in March. I’m sure it will fire back up in January though. 

[Wulaw Horn 19076]

7 minutes ago, Murfdogg21 said:

We were crunk when we sold our central Austin (Mueller) house in March for 26% higher than houses of the same floor plan sold for in 2020. Then a couple others in the neighborhood sold for $50-100k above what we got and we played tiny violins of sadness. Since July 1, prices for similar floor plans (bed, bath, sqft) have dipped slightly below what we got in March. I’m sure it will fire back up in January though. 

So the guy that bought his house on 6/30/2021 is currently down $100,000 from purchase price?  Yikes.  

[Dbeasy 15052]

26 minutes ago, jimmyjazz said:

So, you screwed up a listing, didn't you?  

Ha, no. Amazingly many of these internet sites are screwed up and require manual intervention to fix them via customer support. 

[NotActuallyALonghorn 4976]

18 minutes ago, Wulaw Horn said:

So the guy that bought his house on 6/30/2021 is currently down $100,000 from purchase price?  Yikes.  

We sold our house this winter (not in a major Texas market) and were worried about this situation, so we found a 1200 square foot newly remodeled house in a not entirely desirable neighborhood for $92k. We can sock money away and have a super cheap house note while we look for some land that isn't too terribly overpriced and have a place to live while we build our dream home. And then we can rent it out afterwards for upwards of twice the note.

[UT_OB1 2224]

2 hours ago, Dbeasy said:

I have some advice for people considering using a weak real estate agent or discount broker/agent to list their home or buy a home. Without giving the long, detailed story of my own experience, basically I got a real estate license because I was sick of bad agents.  I started doing my own deals, which included rental homes. I now do this for friends and family among other business interests.  This morning is a perfect example of the potential lost dollars of using bad agents.

There was a listing that went out this week.  But because of technical glitches in the systems, only a portion of the internet sites were seeing the listing. Bad agents typically not only don't spend any time at all ensuring the listing is propagating properly across the internet, they often don't even know what sites people use to search for houses. Yes, they are that bad at their jobs.

If this error hadn't been caught, it would have meant substantially lower traffic in the house and ultimately lower and fewer bids.  This is just one example of the importance of using a highly, highly competant realtor. I get it. I hated the commissions realtors earned.  But I can now tell you from personal experience that there are a thousand little details just like this that are critical for achieving a successful real estate transaction outcome. 

Most poeple don't realize it.  They just think that some family friend with a license that does transactions did a great job because they were so friendly and helpful.  Or maybe the houses they listed sold quickly.  They don't realize that thousands of dollars were lost in the process somehow.

This hasn’t been corrected in over a week. Granted, it’s just the description, but still show a little pride in what you do. Sent it over to my realtor and told him I wanted it put in the contract we’d be minutes from crystal beach and be within 100 miles of Amarillo. He laughed. 
 

 

[Murfdogg21 4412]

34 minutes ago, Wulaw Horn said:

So the guy that bought his house on 6/30/2021 is currently down $100,000 from purchase price?  Yikes.  

I doubt the Californian transplants are looking to sell already so they won’t realize a loss. I am relieved I didn’t buy back into the Austin market this summer though. 

[Gil Bang 25961]

8 hours ago, Dbeasy said:

I have some advice for people considering using a weak real estate agent or discount broker/agent to list their home or buy a home. Without giving the long, detailed story of my own experience, basically I got a real estate license because I was sick of bad agents.  I started doing my own deals, which included rental homes. I now do this for friends and family among other business interests.  This morning is a perfect example of the potential lost dollars of using bad agents.

There was a listing that went out this week.  But because of technical glitches in the systems, only a portion of the internet sites were seeing the listing. Bad agents typically not only don't spend any time at all ensuring the listing is propagating properly across the internet, they often don't even know what sites people use to search for houses. Yes, they are that bad at their jobs.

If this error hadn't been caught, it would have meant substantially lower traffic in the house and ultimately lower and fewer bids.  This is just one example of the importance of using a highly, highly competant realtor. I get it. I hated the commissions realtors earned.  But I can now tell you from personal experience that there are a thousand little details just like this that are critical for achieving a successful real estate transaction outcome. 

Most poeple don't realize it.  They just think that some family friend with a license that does transactions did a great job because they were so friendly and helpful.  Or maybe the houses they listed sold quickly.  They don't realize that thousands of dollars were lost in the process somehow.

So, the GF has this dingy friend that wants to sell.  I agree to list her tiny condo for 4%...the "good guy" discount.

She's a massive slop and general PITA.   I held an open house.  I went down 1.5 hours early to vacuum, mop, and dust her nasty-ass place before I could show it.   It's in SD city proper, so my usual housekeepers don't go that far.   I'm working my ass off dealing with this PITA client for fucking peanuts.  I'm getting paid like a fucking redfin agent but giving her full fucking service. 

I got the condo in escrow for over-asking price.  She flips the fuck out when she finds out that she has to write a check to the HOA to have the HOA info sent to escrow for the buyer.  It's $150.   On the net sheet that I did for her, I estimated it at $300, so she's up $150 and still mad about it. 
FML.

Edited August 19, 2021 by Gil Bang

[Updawg 2267]

Dealbreaker

[Wulaw Horn 19076]

1 hour ago, Gil Bang said:

So, the GF has this dingy friend that wants to sell.  I agree to list her tiny condo for 4%...the "good guy" discount.

She's a massive slop and general PITA.   I held an open house.  I went down 1.5 hours early to vacuum, mop, and dust her nasty-ass place before I could show it.   It's in SD city proper, so my usual housekeepers don't go that far.   I'm working my ass off dealing with this PITA client for fucking peanuts.  I'm getting paid like a fucking redfin agent but giving her full fucking service. 

I got the condo in escrow for over-asking price.  She flips the fuck out when she finds out that she has to write a check to the HOA to have the HOA info sent to escrow for the buyer.  It's $150.   On the net sheet that I did for her, I estimated it at $300, so she's up $150 and still mad about it. 
FML.

Do you get to bang her?  Because it sounds like you should have negotiated that with your GF before you decided you’d do her a favor And help her friend at a discount. 

[Gil Bang 25961]

I wouldn't fuck her with Vic's cock. 

[Wulaw Horn 19076]

5 minutes ago, Gil Bang said:

I wouldn't fuck her with Vic's cock. 

Ok. Did you negotiate something dirty from the girl friend then for the “favor?”

Edited August 20, 2021 by Wulaw Horn

[Gil Bang 25961]

now, I've got lots of problems, but having to negotiate with the GF isn't one of them.  She's a trooper, and she's up for anything. Even when she's not up for it, she's up for it, if you catch my drift.  

I was in a miserable marriage for a very long time, and the GF is like a turbo-fan blowing oxygen in my face 24/7

She's not perfect, but hey, a man with empty balls can overlook some minor faults now and then. 

[CHIEF 5092]

15 hours ago, Gil Bang said:

So, the GF has this dingy friend that wants to sell.  I agree to list her tiny condo for 4%...the "good guy" discount.

She's a massive slop and general PITA.   I held an open house.  I went down 1.5 hours early to vacuum, mop, and dust her nasty-ass place before I could show it.   It's in SD city proper, so my usual housekeepers don't go that far.   I'm working my ass off dealing with this PITA client for fucking peanuts.  I'm getting paid like a fucking redfin agent but giving her full fucking service. 

I got the condo in escrow for over-asking price.  She flips the fuck out when she finds out that she has to write a check to the HOA to have the HOA info sent to escrow for the buyer.  It's $150.   On the net sheet that I did for her, I estimated it at $300, so she's up $150 and still mad about it. 
FML.

No good deed goes unpunished. I am very hesitant to list close friends and family. They tend to want to list the house for considerably more than current value, and expect you to list it for them for basically free, then bitch when they don't get an offer within 48 hours. Had two of those this summer.

CHIEF

[UTPhil2006 3807]

Yep we listed one for my aunt here in Houston and it's been nothing short of a nightmare.  It closes on Monday and I hope to never look at that damn condo ever again.

[closetohumping 17442]

15 hours ago, Gil Bang said:

now, I've got lots of problems, but having to negotiate with the GF isn't one of them.  She's a trooper, and she's up for anything. Even when she's not up for it, she's up for it, if you catch my drift.  

I was in a miserable marriage for a very long time, and the GF is like a turbo-fan blowing oxygen in my face 24/7

She's not perfect, but hey, a man with empty balls can overlook some minor faults now and then. 

Good bye

[Gil Bang 25961]

So, same deal.  It's a condo, so the seller is obligated to furnish all the HOA stuff to the buyer.  HOA management company charges $175 for that.  Today I got a check from the seller and drove it over to the management company.  I'd never been to their office.  I walk in, and the receptionist had more titty on display than I've ever seen from a woman that wasn't naked.  Those motherfuckers...wow.  I mean, a fucking cocktail waitress in a nightclub wouldn't have shown that much titty. 

Everybody I've talked to at that company has been female, but it must be a pervy man that owns it.  Honestly, if I was running the joint I think I would have told her to go home and change.  Nice to look at, but totally inappropriate for an office.  Shit, damn near inappropriate for anywhere. 

[UT_OB1 2224]

1 hour ago, Gil Bang said:

So, same deal.  It's a condo, so the seller is obligated to furnish all the HOA stuff to the buyer.  HOA management company charges $175 for that.  Today I got a check from the seller and drove it over to the management company.  I'd never been to their office.  I walk in, and the receptionist had more titty on display than I've ever seen from a woman that wasn't naked.  Those motherfuckers...wow.  I mean, a fucking cocktail waitress in a nightclub wouldn't have shown that much titty. 

Everybody I've talked to at that company has been female, but it must be a pervy man that owns it.  Honestly, if I was running the joint I think I would have told her to go home and change.  Nice to look at, but totally inappropriate for an office.  Shit, damn near inappropriate for anywhere. 

Something seems to be missing from your post. 

[Sam Lin 3559]

Which management company is this? Asking for a friend.

[Upgrayedd 5813]

9 hours ago, Gil Bang said:

So, same deal.  It's a condo, so the seller is obligated to furnish all the HOA stuff to the buyer.  HOA management company charges $175 for that.  Today I got a check from the seller and drove it over to the management company.  I'd never been to their office.  I walk in, and the receptionist had more titty on display than I've ever seen from a woman that wasn't naked.  Those motherfuckers...wow.  I mean, a fucking cocktail waitress in a nightclub wouldn't have shown that much titty. 

Everybody I've talked to at that company has been female, but it must be a pervy man that owns it.  Honestly, if I was running the joint I think I would have told her to go home and change.  Nice to look at, but totally inappropriate for an office.  Shit, damn near inappropriate for anywhere. 

Pics aren’t loading 

[DCA_HORN 725]

So, same deal.  It's a condo, so the seller is obligated to furnish all the HOA stuff to the buyer.  HOA management company charges $175 for that.  Today I got a check from the seller and drove it over to the management company.  I'd never been to their office.  I walk in, and the receptionist had more titty on display than I've ever seen from a woman that wasn't naked.  Those motherfuckers...wow.  I mean, a fucking cocktail waitress in a nightclub wouldn't have shown that much titty. 
Everybody I've talked to at that company has been female, but it must be a pervy man that owns it.  Honestly, if I was running the joint I think I would have told her to go home and change.  Nice to look at, but totally inappropriate for an office.  Shit, damn near inappropriate for anywhere. 

You can teach em to type, but you can't teach em to grow tits.

[Anastasis 23474]

17 hours ago, Gil Bang said:

So, same deal.  It's a condo, so the seller is obligated to furnish all the HOA stuff to the buyer.  HOA management company charges $175 for that.  Today I got a check from the seller and drove it over to the management company.  I'd never been to their office.  I walk in, and the receptionist had more titty on display than I've ever seen from a woman that wasn't naked.  Those motherfuckers...wow.  I mean, a fucking cocktail waitress in a nightclub wouldn't have shown that much titty. 

Everybody I've talked to at that company has been female, but it must be a pervy man that owns it.  Honestly, if I was running the joint I think I would have told her to go home and change.  Nice to look at, but totally inappropriate for an office.  Shit, damn near inappropriate for anywhere. 

HOA management companies are basically useless whores operating a fee treadmill, so might as well put a hooker with her tits hanging out at the front desk. 

[FigurelliPwC 115]

On 8/19/2021 at 8:57 AM, Dbeasy said:

I have some advice for people considering using a weak real estate agent or discount broker/agent to list their home or buy a home. Without giving the long, detailed story of my own experience, basically I got a real estate license because I was sick of bad agents.  I started doing my own deals, which included rental homes. I now do this for friends and family among other business interests.  This morning is a perfect example of the potential lost dollars of using bad agents.

There was a listing that went out this week.  But because of technical glitches in the systems, only a portion of the internet sites were seeing the listing. Bad agents typically not only don't spend any time at all ensuring the listing is propagating properly across the internet, they often don't even know what sites people use to search for houses. Yes, they are that bad at their jobs.

If this error hadn't been caught, it would have meant substantially lower traffic in the house and ultimately lower and fewer bids.  This is just one example of the importance of using a highly, highly competant realtor. I get it. I hated the commissions realtors earned.  But I can now tell you from personal experience that there are a thousand little details just like this that are critical for achieving a successful real estate transaction outcome. 

Most poeple don't realize it.  They just think that some family friend with a license that does transactions did a great job because they were so friendly and helpful.  Or maybe the houses they listed sold quickly.  They don't realize that thousands of dollars were lost in the process somehow.

*competent

[Sgt Hulk 13747]

On 8/20/2021 at 3:56 PM, Gil Bang said:

So, same deal.  It's a condo, so the seller is obligated to furnish all the HOA stuff to the buyer.  HOA management company charges $175 for that.  Today I got a check from the seller and drove it over to the management company.  I'd never been to their office.  I walk in, and the receptionist had more titty on display than I've ever seen from a woman that wasn't naked.  Those motherfuckers...wow.  I mean, a fucking cocktail waitress in a nightclub wouldn't have shown that much titty. 

Everybody I've talked to at that company has been female, but it must be a pervy man that owns it.  Honestly, if I was running the joint I think I would have told her to go home and change.  Nice to look at, but totally inappropriate for an office.  Shit, damn near inappropriate for anywhere. 

I hate apple. They disable the pic loading feature on older models because pics aren’t loading 

[closetohumping 17442]

On 8/20/2021 at 12:56 PM, Gil Bang said:

 

Everybody I've talked to at that company has been female, but it must be a pervy man that owns it.  Honestly, if I was running the joint I think I would have told her to go home and change.  Nice to look at, but totally inappropriate for an office.  Shit, damn near inappropriate for anywhere. 

[HRSchenker 2268]

Modern modular homes. Worth it?

[CHIEF 5092]

3 minutes ago, HRSchenker said:

Modern modular homes. Worth it?

In remote areas, sure? My wife is a high-up in Commercial modular, but one of the execs that left the company does modular homes. Montana, Wyoming, Nevada, remote Colorado, you are looking at twice as much for stick built.

CHIEF

[UTPhil2006 3807]

On 8/20/2021 at 2:56 PM, Gil Bang said:

So, same deal.  It's a condo, so the seller is obligated to furnish all the HOA stuff to the buyer.  HOA management company charges $175 for that.  Today I got a check from the seller and drove it over to the management company.  I'd never been to their office.  I walk in, and the receptionist had more titty on display than I've ever seen from a woman that wasn't naked.  Those motherfuckers...wow.  I mean, a fucking cocktail waitress in a nightclub wouldn't have shown that much titty. 

Everybody I've talked to at that company has been female, but it must be a pervy man that owns it.  Honestly, if I was running the joint I think I would have told her to go home and change.  Nice to look at, but totally inappropriate for an office.  Shit, damn near inappropriate for anywhere. 

So whens the Prodigy Mortgage/Gil Bang RE/This HOA Cali Surly HH?

[Mother mopar 3319]

After 3 of our closing dates got pushed we finally closed on our land today; south of Tyler, TX. The home-building adventure will begin next year.

[Gil Bang 25961]

I haven’t been doing much. A friend just asked me to work open houses on her new listing. It’s beautiful, priced at 1.4 and comps at 1.55.

Hopefully I can sell this mofo. 30k in commission would come in handy about now.

[Wally Fairway 5550]

On 8/20/2021 at 3:56 PM, Gil Bang said:

So, same deal.  It's a condo, so the seller is obligated to furnish all the HOA stuff to the buyer.  HOA management company charges $175 for that.  Today I got a check from the seller and drove it over to the management company.  I'd never been to their office.  I walk in, and the receptionist had more titty on display than I've ever seen from a woman that wasn't naked.  Those motherfuckers...wow.  I mean, a fucking cocktail waitress in a nightclub wouldn't have shown that much titty. 

Everybody I've talked to at that company has been female, but it must be a pervy man that owns it.  Honestly, if I was running the joint I think I would have told her to go home and change.  Nice to look at, but totally inappropriate for an office.  Shit, damn near inappropriate for anywhere. 

You must be new around here.........

[Biff Tannen 45691]

On 8/22/2021 at 4:19 PM, CHIEF said:

In remote areas, sure? My wife is a high-up in Commercial modular, but one of the execs that left the company does modular homes. Montana, Wyoming, Nevada, remote Colorado, you are looking at twice as much for stick built.

CHIEF

I have looked at it a bit (a tiny bit) in remote Colorado and it didn’t seem much cheaper than stick built, if at all. Can it really be half the price?  

[Wulaw Horn 19076]

16 minutes ago, Biff Tannen said:

I have looked at it a bit (a tiny bit) in remote Colorado and it didn’t seem much cheaper than stick built, if at all. Can it really be half the price?  

Some area far enough away from tradesmen and supply I have seen that.