Crunk Times, My friend.....Crunk Times

[WhoSayWho? 5,000+ posts]

The 6% would be factored in to the selling price, wouldn't it? At least in the models we build for school that they sell to people, they are. Closing costs are negotiable...
I think the issue is having to sell vs. wanting to sell.

The home value dropping makes me want to buy two homes. I sometimes think I could...if I paid what I am supposed to pay vs. double what I am supposed to pay.

Well you are right in the distinction between wanting and needing to sell. As for the commission and selling costs, whether your selling price is going to be adequate to cover those depends on the value of the home, which is my point. In years past, you could buy a home and sell it three years later at a price high enough to cover those transactional costs and still make money. That is not necessarily the situation today. It used to be that I would see sellers bring money to closing only under some fairly unusual circumstances. It is more common today.

Furthermore, in my opinion the fact that people find themselves "upside down" is one of the reasons the foreclosure rate is so high. They can't afford to sell.

Even today I think a lot of this depends on where you live.

There are a good number of houses around here that have been for sale for over a year, and I have seen some that have been for sale since Katrina and these are homes that are vacant but habitable.

 

[DBfan187 5,000+ posts]

better bring lots of alcohol

 

[WhoSayWho? 5,000+ posts]

I read on Yahoo where people are selling homes for $1,000 or whatever in Detroit area...Unfortunately, they won't let you live in them until they have had decent rehabilitation.
When you say "that is not the situation today" I am assuming you are referring to the people who bought 3 years ago and not the people who are buying today. My home value is relatively flat in the past year....propped up by my purchase, I suppose.

I don't want to make negative comments about the banks loaning money to unqualified buyers, as I am technically an unqualified buyer myself. If it wasn't for loose lending standards, it would take me quite a while to get into a home.

Yeah, I am referring to people who are trying to sell today. I have no idea as to what it is going to look like three years from now. Hopefully it will be better.

However, I will say that I am not seeing the "deals" that you might expect in this market. Kinda wierd. The prices on houses do not show a widespread drop, they list high but do not sell. Again, it may be that a lot of the potential sellers simply can't afford to sell at a price the market would seem to indicate they should sell at.

 

[mcsoul 10+ year member]

Awkward:laugh:

carry on.//content.invisioncic.com/y282845/emoticons/crap.gif.7f4dd41e3e9b23fbd170a1ee6f65cecc.gif

 

[DBfan187 5,000+ posts]

just tell them it's for first-aid.

 

[Captain_Ahab 5,000+ posts]

Added another class so i now have 16 hours.

This leaves me with 12 hours both semesters of my senior year. w00t! The limit to be considered a full time student and still get scholarship $$$.

 

[MikeofTulsa Moderator]

It's not uncommon...I think they call it a deposit or something.

yep

Yes, I have always paid a security deposit on apartments. Usually it is after the rental agreement is signed though. Not to just to hold it. The deposit is usually one months rent.

Seems like a ripoff to me...which is why I never rented.

not everyone has the credit to buy.

I always got my deposits back. If you don't wreck the place and make sure it is move in condition then all is well. I also stayed with big complexes rather than private renters. thats where you find your douches. I don't think I could ever rent a home. The rent is to close to what a mortgage payment would be for me to consider. I don't have a family anyway so regular apartment complex was fine for us.

if it wasnt for the fact i have a son and dogs i'd still be living in my old apartment, nothing like 300/mo and only have to pay 80ish/mo for electric

I didn't know you had an apt....I thought you had a house.
I feel you on renting this house...still curious what kind of character is going to pay more than what I do for housing and comfortable not owning it later. I pay $800, but that is ownership not renting. And I am paid up until the middle of march...and can scale down payments if need be.

again, comes down to credit. made some stupid decisions regarding my credit when i was younger. hopefully that should be coming off my credit report in the next couple years.

It can make sense under certain circumstances. Today, with home values dropping, I would not think of buying at market value if I thought that I was not going to be in the house for at least three years.
We have always made money when we sold, but that has always been due to appreciation. You just can't count on that now.

You know you are going to lose 6% plus just on commission and closing costs.

indeed.

 

[WhoSayWho? 5,000+ posts]

So Mike, I saw where ypu posted that the scammer was identified in the paper. What's the deal? Did they catch him or what?

 

[Chevillac 5,000+ posts]

I always lol at the sale ads in the classifieds...do they pick up their cues from matress companies?

//content.invisioncic.com/y282845/emoticons/confused.gif.e820e0216602db4765798ac39d28caa9.gif

It's not uncommon...I think they call it a deposit or something.

... I know what its called, ive rented before, but I have never paid before actually moving in. Pay security deposit (not a holding fee, for them to hold it) after you are approved, and you get the key right then.

Yes, I have always paid a security deposit on apartments. Usually it is after the rental agreement is signed though. Not to just to hold it. The deposit is usually one months rent.

this.

I always got my deposits back. If you don't wreck the place and make sure it is move in condition then all is well. I also stayed with big complexes rather than private renters. thats where you find your douches. I don't think I could ever rent a home. The rent is to close to what a mortgage payment would be for me to consider. I don't have a family anyway so regular apartment complex was fine for us.

//content.invisioncic.com/y282845/emoticons/word.gif.64b12e39f936af3b4fff38a1c0bd0244.gif

They have rather nice apts.

wat

 

[MikeofTulsa Moderator]

So Mike, I saw where ypu posted that the scammer was identified in the paper. What's the deal? Did they catch him or what?

nothing yet. my wife called the paper and they told her the name he registered under was david cash. outside of that we have no other info other than a cell phone. my sister is checking on the tax records for the house that the guy was "renting" to us.

if i suddenly stop posting on here its because i have killed this sob and am currently in jail.

 

[WhoSayWho? 5,000+ posts]

nothing yet. my wife called the paper and they told her the name he registered under was david cash. outside of that we have no other info other than a cell phone.

I see, likely an AE then. If the local cops don't seem interested the Attorney General's office might be.

 

[DBfan187 5,000+ posts]

I can't wait!

Not the part of you posting on here //content.invisioncic.com/y282845/emoticons/sneaky.gif.7189749b3a3f769e8815b47e8ae87f88.gif, but me knowing a vigilante! AWESOME!

 

[Chevillac 5,000+ posts]

nothing yet. my wife called the paper and they told her the name he registered under was david cash. outside of that we have no other info other than a cell phone. my sister is checking on the tax records for the house that the guy was "renting" to us.
if i suddenly stop posting on here its because i have killed this sob and am currently in jail.

craziness. good luck with that.

I see, likely an AE then. If the local cops don't seem interested the Attorney General's office might be.

definitely an AE.

 

[Chevillac 5,000+ posts]

2 hours no posts.

 

[Banana Balls 5,000+ posts]

I has paost now.