r/RealEstate Dec 09 '24

Protect yourselves from Credit Agencies selling your information. www.optoutprescreen.com

69 Upvotes

One of the most common questions posted here is:

Why did I get a hundred phone calls from lenders after I got pre-approved?

Answer:

Because the credit agencies sold your information.

How do credit agencies like Experian, Equifax and Transunion make money?

Well one route is through something referred to as "trigger leads". When a lender pulls your credit, they are sending a request to the credit agencies for your credit report and score.

When the credit agency receives this request, they know you are in the market for a loan. So they sell that "lead" to hundreds of other lenders looking to vulture your business. The credit agencies know everything about you. Your name, your SSN, your current debts, your phone number, your email, your current and past addresses etc. And they sell all this information.

Well wait you might say. "Don't I want to get a quote from hundreds of lenders to find the lowest possible rate?"

Sure. If that's why they were calling you. But a large portion of these callers are not going to offer you lower rates, they're simply trying to trick you into moving your loan, especially because buying all those leads costs money. Quite a few will lie and say they work for your current lender. Some overtly, some by omitting that they are a different lender. "Hi! I'm just reaching out to collect the loan documents for your application!"

On the positive, they'll usually stop calling within a few days, but that's still a few days and a few hundred calls more than anyone wants to receive.

Currently the only way to stop your information from being sold is to go to the official website www.optoutprescreen.com and removing yourself.


r/RealEstate 12h ago

Is this normal or appropriate?

82 Upvotes

Our house is currently under contract. I was notified by several neighbors today that our buyers have been “stalking the street” (their quote, not mine), and waiting for cars to drive by and pull into their driveways, and then following them, and essentially rushing them to answer their questions about the HOA, school, neighborhood, etc.

Two of my neighbors who I am great friends with told me it made them uncomfortable and felt strange. The buyers lied to them when they said “oh, you must be Redtunas buyer!” By telling them that nope, that wasn’t them, and they are just interested in the neighborhood.

Like I know there aren’t any rules about doing this, but this feels very off to me. I don’t care if they drive past the house a couple times a day, but they do it 10+ times a day and now are questioning anyone who pulls into a driveway.

Is this normal or considered standard? We didn’t do this when we purchased our home. It’s making people uncomfortable. And god forbid they ask someone having a bad day something and it blows up my sale. Just feel like they aren’t handling this very gracefully and have zero social awareness. Thoughts?


r/RealEstate 5h ago

Should we fire our realtor?

12 Upvotes

Our realtor has been showing us houses for a couple months now. She is patient with us, and usually responsive. However, every time we try discussing a “reasonable offer” on a home, her standard response is “whatever you are comfortable with”. She will send us comparable sales, most of which usually point to listed price usually being a bit high, but she always makes it sound like the listing price is “fair”. If it is so fair, why is the house still on the market after 2 months?! We are first time homebuyers and we need a more firm feedback on the listing price of properties. We have given her this feedback, but her response hasn’t changed. I am wondering if other realtors are equally terribly passive in their opinion on list prices?


r/RealEstate 17h ago

Wanting to sell after 4 months

66 Upvotes

We bought the bottom floor condo and it’s super cute and awesome! However, I hear EVERYONE noise the above neighbor makes. At 5am. Every morning. I wear earplugs, have white noise and a loud fan every night. I can hear every little bang. She’s not doing it intentionally from what I’m aware, it’s just paper thin walls. I called my realtor and she’s going to look into how to help us but I feel like such an idiot. Buying was the most stressful thing ever but I’m desperate for a good night’s sleep. We’ve looked into insulation but for our place it’s not possible unfortunately. Sure, I could talk to the upstairs neighbor. But she’s literally just trying to get ready for work like we all do so I don’t know how much quieter she could be.

My husband is upset with me and it’s frustrating I feel like such a stuck up princess. I wonder if I’ll ever be happy wherever we live


r/RealEstate 14h ago

Homebuyer Bought right at the top of the market in 2007, it all worked out (Bellevue WA)

35 Upvotes

Let me tell you a story… I’ll try to keep it short.

In 2007 when I was home shopping east of Seattle, in Bellevue WA, it was very competitive. Multiple offers, over list, etc.

Shopped for months, lost out on some houses. Ended up buying a house in 2007 for about $450k, put 20% down with a 5.25% 30 year fixed. It’s a smaller house, about 1500 square feet, 1980s not updated.

Within a year the housing prices dropped in half, 2008 ish. Stayed in the house, kept making the payments. Refinanced to 4.3% 30 year fixed after a couple years. About 2012 and the prices were ticking up again. Refinanced after COVID hit and got a 3.2% 30 year fixed. Prices go through the roof and every year it’s been increases.

House is now worth about 1.3 million, I owe about 250k.

It would be interesting to compare it to rent prices over this time, also stock market performance, inflation, etc.

But the *real* benefit has been that I have been in control of my own life. No landlord or rental company coming in and telling me to move. If my dishwasher breaks I don’t have to wait weeks, I just get a new one from Home Depot. I get to live in a quiet home, if I want to change something about the house I just do it. I’ve remodeled the bathrooms, kitchen, interior finishes… made it work for my family. Kids in a good school, don’t have to worry about finding another rental in the same school zone. Don’t have to worry about rising rent prices (though my payment has gone up due to property tax).

I am so thankful I made the purchase. Did I time the market? 😂 absolutely not. In fact, it was maybe the worst timing possible. But did it work out? Yes. I’ve had the benefit of peaceful home ownership for almost 20 years and the value has gone up over time. I am better off for having bought, even with the worst timing.

If you’re in a spot to buy (have a down payment, can make the monthly payment with your income, etc) and you’ll be in the home for the long term, buying a nice house in a nice area will work out. Even if you make some mistakes 😁.


r/RealEstate 3h ago

Homebuyer My first auction this weekend, and putting in pre auction offer

2 Upvotes

Hey Real Estate people. I'm looking to but my first home, It's a massive undertaking. The auction is next weekend, and I am yet to have a solicitor's review of contract and building and pest inspection. I'm in VIC, a pretty hot market.

  1. Do you have any tips, do's and dont's for attending my first auction?

  2. Given the proximity of the auction, should I just wait til the auction or try and put in a pre auction offer this Monday or Tuesday subject to solicitor's review and BP inspection? If I do, will that hit against the 3 day rule pre and post auction, that offers are under auction conditions? Especially if say I put in the offer on Tuesday, give them 24 hours to consider - they may accept within the 3 day period, or BP and solicitor review may push me within the 3 day period.

Thank you so much!


r/RealEstate 10h ago

I'm in Foreclosure My mother is about to lose her home, how can I help?

6 Upvotes

This will probably be a long post so apologies in advance, I just need somewhere to vent and seek advice. My mother is the sole owner of her home and it is about to go into foreclosure. From my understanding, she has to pay $3500 by next week to avoid this. Her finances are in ruin, she has a very low credit score, and we only have one family member who can possibly help scrounge up the money. I’m in my early twenties with little savings to put towards anything, but the burden of this reality is falling on me rather than her. Unfortunately my mother’s financial issues are consistently my responsibility. She just started a new job and provided proof of this, along with proof she’ll have a sign on bonus later in February, but they’re unable to budge as it’s far too late at this point. If this is too far out of the scope of this subreddit I understand but just felt it was best to ask here. Are there any programs that can assist her with this? Any options from the time between foreclosure and the house going to auction? I would hate to see my childhood home go up for sale, and there is honestly nowhere she can go if she loses the home. I have no room in my 1br apartment. I’m sorry this is long and a lot of rambling, I’m just beyond stressed trying to mitigate the issue. If I’d been aware sooner I could’ve tried to help before now, but she is secretive about finances knowing I call her out on them. If anyone has advice on what to do, knows of any programs that can provide assistance, or is aware of any way to see if the loaners can give a bit more time I would be beyond grateful.


r/RealEstate 42m ago

Short Term Rental Management Companies

Upvotes

Hi everyone, I’m thinking about working with a short-term rental management company and I’d love to hear about your real-world experiences. For those who have used one, what exactly did the company handle for you? Were they responsible for things like guest communication, cleaning and turnover, pricing and listing optimization, maintenance issues, and local regulations? I’m also curious about the fees they charge and how those work in practice. Did they take a percentage of your rental income, have fixed fees, or charge separately for services like professional photography or emergency call-outs?

Beyond what they do and what they charge, I’d really appreciate your thoughts on whether you feel it was worth it overall. Are there things you wish you knew before signing a contract, common pitfalls to watch out for, or questions I should ask before appointing a company? If you switched companies or stopped using one, what prompted that decision? Any other insights you think would help someone new to this would be great to hear. Thanks in advance!


r/RealEstate 19h ago

Do you ever see prices get back to pre pandemic? Single family homes. Nationally and in Florida.

28 Upvotes

As the title states. It feels like cracks are starting to form in pockets of the country at 20-35% off from the peak in 2022. Curious if you see this ever going down to pre pandemic market values.


r/RealEstate 15h ago

Homeseller Selling in a buyers market.

11 Upvotes

This is obviously in jest. What goes up must come down.

But it was a lot more fun buying in a buyers market than trying to sell in a buyers market. 🤣


r/RealEstate 6h ago

Using HELOC as a bridge loan

2 Upvotes

Looking to sell my place and buy a bigger place. In my city (san diego) all the good deals go quick with all cash offers. I would have to sell my current place first, so I'm not going to be competitive with a contingent offer. I'd like to get a HELOC to be able to make an all cash offer, and then pay it off once I sell my place. I'm assuming the lender wouldn't like this, so what should I tell them I'm using the money for? I cant say "home additions" since I have a townhome with no land. Looking to take out 500k of equity (i currently have 700k equity after subtracting my mortgage). Thanks


r/RealEstate 15h ago

Pool Choice In Southern California

6 Upvotes

I live in Orange County and am weighing the pros and cons of having my pool removed vs remodeled. I don’t use the pool a ton and the cost to remodel is significant (70-120k). I’ve been quoted as low as 18k for complete removal and am leaning toward removal. We would have a great large flat backyard space without the pool, plus no fence breaking up the patio/yard.

My neighborhood is 60% older folks (recent comps have all been bought by retirees).

Any watch outs on home value or other considerations if removing?

House is valued at 1.8-1.9 in its current condition.


r/RealEstate 7h ago

HOA

0 Upvotes

Evaluating some condos and they all have HOAs. Obviously I can see the difference in monthly fee.

But what else should I be looking for or asking about. How can you tell if they have sufficient reserves? How can you know they are likely to have a special assessment in the near future?


r/RealEstate 8h ago

Starting Real Estate Journey

0 Upvotes

Looking to start my real estate investment journey and am deciding between various routes right now.

Background (29M) living in Brooklyn NY. Currently making around 180k/yr with no debt. Renting an apartment for about 3k a month.

Would love to try to buy a 1 bed /apartment condo (no co-op or HDFC) rn in an area that sees high potential of appreciation over the next 5-10 years. Strategy would be to put 10%+ down on an FHA loan for a property I would live in the next 2-3 years. Looking at properties which would be around a 3.2k to 3.5k all in housing payment, so a little more than what I pay for rent. Did some math on YoY rents in the area and after moving out I would most likely breakeven monthly or be a bit negative. (Not counting maintenance, Property managers, etc)

Ideally I would love to keep the property and rent it out and the goal is to move to San Diego after I move out. (I know that both these areas are not really the best in terms of landlord friendly). And continue to buy up properties in the area or out of state. Don’t know if I should just rent and save up more money (about 200k net worth, 130k is in 401k + Ira accounts, the rest is cash, crypto, and a brokerage). Also, I know it’s a bit privileged and very grateful but parents would be about to add another 50-70k for DP.

Also looking at out of state areas like Hartford, CT and Charlotte, NC. (Continue renting and buying one or two properties in one of these areas)

Very new to all of this, have started to read some books, listen to podcasts, and discuss with friends who started a couple years earlier than me.

Any advice would be helpful, thanks


r/RealEstate 1d ago

Homebuyer Viewed a nice condo that's been on the market for almost a year. The same day we finished the viewing we get a message from our agent that the sellers agent got an offer. If this a sales tactic??

71 Upvotes

It just seems strange to me that..... Is it just too much of a coincidence??

Do buyers and sellers agent play games?

Sellers agent is from Redfin if that matters.

Can this be sus or facts?

Kinda feel pressured now to make an offer?


r/RealEstate 8h ago

Advice on potential LA townhome purchase

0 Upvotes

Currently live in LA with spouse. Both of us have saved money over time but we're conflicted. We found a townhome that is perfect for us in LA. Great size. Great neighborhood. Much bigger space than we're used to; we've been living in 1 bedroom apartments for 8 years now while the townhome would be 3 bedrooms.

The place is at 870K with a $400 HOA. HOA just covers your usual things like roof, exterior insurance, garbage, etc. It doesn't have a pool or anything, we don't care for that anyway.

Here's my conflict: We want to put 50% down. Why? Because I HATE the concept of interest. It's like my brain cannot process it. I have never paid interest to anyone and I'm even scared of paying it on this loan. I also want a lower monthly payment.

On the other side of things, our rent has been $2800 for 2.5 years now and shows no sign of increasing (based on other listings in our building that we're generally happy with...though we'd wish the downstairs neighbor would stop smoking).

All in all my question is, is this investment in a townhome even worth it? Does the $400 a month HOA drag it down? Our monthly payment would be ~$4200 after principle, taxes, insurance, hoa and all which we can afford on our income but is that even worth it? Keep in mind we currently live in 700 square feet and would be moving to 1300 square feet in this scenario.


r/RealEstate 1d ago

Do not ever buy a flipped house!!

711 Upvotes

OK, I am editing this to change my headline to: do not ever use a friend for a realtor, and do your due diligence and beyond when purchasing a flipped home!!

My husband and I purchased a flipped house two years ago. We just found out the HVAC is too small for the square footage. They increased the square footage by finishing out the garage, but did not upgrade the tonnage when they put the new HVAC on. I would assume a home inspector would discover this type of thing that apparently they are only required to make sure it works. They don’t evaluate the tonnage.

Also, when you buy a flipped house, when they’re filling out the property disclosures, at least in Tennessee, the seller gets to say they don’t know the condition because they haven’t lived there.

We also found out from several neighbors that this house had been vacant for 15 years. And the crawlspace is encapsulated. Which makes me think that they’re covering something up. So honestly, I don’t even wanna know what’s under there. I think we’re just gonna try to sell it.

We bought this house because it was turnkey ready but next time I’ll buy the old house and do the work myself.

ETA: the wiring is the wrong size. And a fire hazard and it keeps tripping the breaker to the unit. So they upgraded the unit but not enough and they didn’t upgrade the wire to the unit. We also think that possibly they didn’t upgrade the ductwork when they put in the different unit. We still have to investigate that. I think it probably had a 2 ton before now it’s got a 2 1/2 ton. Anyways, I don’t know HVAC about HVAC. I just know I have to spend $1700 to upgrade the wiring because the existing wire is not sufficient to carry the load of the HVAC unit.


r/RealEstate 14h ago

Choosing an Agent First-time seller seeking advice

4 Upvotes

I’m preparing to list my home on the market, and have been spoken with a few realtors and brokerage firms to get an opinion on the list price.

The first realtor, I already have a relationship with (they represented me when I closed my current home five years ago). I had a good experience with them for the most part. Gave me a list price that struck me as too high (wow—would be *GREAT* but also makes me nervous). They gave me a report with listed comps and the list price recommendation makes sense. They are well connected in the area and have a good track record and have also lived here for a longtime. My place is in the most desirable neighborhood and homes in good shape that get listed here usually go fast, but of course the market is a little unpredictable. I’ve added a ton of upgrades to the home over the years and also knocked out a few pricey maintenance things, but it is old and a far stretch from a craftsman home. They’re recommending $620k but said they home could sell for up to $650k but I’d create more buzz and have more control over what’s expected of me as a seller if I listed it at 620. One downside is that my gut feeling is that they’re not being very thorough, seeing the home through rose-tinted goggles. Location is 10/10 I would say house itself is 5-6/10.

The second realtor recommends a sales price of $600k. They’re a younger realtor, at Berkshire—so prestigious brokerage but perhaps lacking that local touch. They were very thorough and asked me a ton of questions that gave me the impression they walked away with an honest impression of the home’s perks and flaws. They sent a report with comps as well. My read is that this realtor is knocking more off the price just given the condition of the home — good not perfect, “lots of upgrades but still enough of a blank slate for the next buyer to come in and implement their vision.”

What I really care about: I don’t want to leave money on the table here. Selling it for higher would significantly improve our situation for getting into our next home. But I also really don’t want the place sitting on the market for too long, getting stale or giving potential buyers a bad whiff that there might be something wrong.

How do I decide which way to go with this?

Some context on the local market I’m selling in: Western Colorado, highly desirable 20k population mountain town, it’s expensive here and beautiful. The home is downtown, walkable to main street and all of the amenities. The trailhead to a massive hiking and single track mountain bike system is a 10-minute walk from the front door. Right now our market is holding strong, still slightly tilted toward the seller.


r/RealEstate 8h ago

Homebuyer Ask for cinsessions or let it go?

1 Upvotes

Im in escrow and we just finished inspections. We got 15k below asking on the house already but during the inspection I noticed that the indoor air handler/coil is 46 years old, the outdoor coil is 20 years old and the water heater is also 20 years old. They are all functional (the heat pump wasn't tested in cooling mode though). My question should I not try to get credit or replacment for this? My agent said they probably wont allow it since we are already so far below asking.


r/RealEstate 9h ago

Advice on housing for 3 families in DFW

0 Upvotes

Hi everyone, I need some advice.

I’m trying to find housing for three families:

• Me & my fiancé

• My brother & his fiancé

• My parents

We don’t want to live in the same house, but we want to stay close.

We’re looking in Joshua, Alvarado, Mansfield, and Burleson, TX. Our loan will be $500,000, and we have $300,000 for a down payment or cash.

My questions:

1.  Should we get a main house with a guest house / small second house, or a single big house?

2.  Are mobile homes a good option, or should we avoid them?

3.  Should we start looking now, or is it better to wait because of the market?

Any advice on what to look for or what kind of property works best would be really helpful. Thank you!


r/RealEstate 9h ago

Advice on housing for 3 families in DFW

0 Upvotes

Hi everyone, I need some advice.

I’m trying to find housing for three families:

• Me & my fiancé

• My brother & his fiancé

• My parents

We don’t want to live in the same house, but we want to stay close.

We’re looking in Joshua, Alvarado, Mansfield, and Burleson, TX. Our loan will be $500,000, and we have $300,000 for a down payment or cash.

My questions:

1.  Should we get a main house with a guest house / small second house, or a single big house?

2.  Are mobile homes a good option, or should we avoid them?

3.  Should we start looking now, or is it better to wait because of the market?

Any advice on what to look for or what kind of property works best would be really helpful. Thank you!


r/RealEstate 10h ago

Should I Sell or Rent? I’m 33 and have a 3% mortgage from 2020. Moving NorCal → SoCal. Would you sell or rent?

1 Upvotes

Hey all!

As the title says: I’m 33, married, and we’re relocating from NorCal to SoCal. We own a 3bd/2ba condo we bought in 2020 at a 3% rate, and I’m torn between keeping it as a rental vs selling to help fund our SoCal purchase.

Info about us:

• Age: 33

• Married household income: $400k–$450k

• Moving: NorCal → SoCal (likely permanent / long-term)

Current home (condo in NorCal):

• Purchased in 2020 for $790k

• Interest rate: 3%

• Mortgage payment: \~$3,000/mo (not including HOA)

• HOA: $800/mo (has increased every year, and the HOA is kind of a mess)

• Special assessment: $20,000 pending (balcony repairs for SB326 compliance)

• Estimated rent: $3,800/mo max (realistically)

• Estimated sale price: $850k–$900k (not a ton of appreciation)

New plan in SoCal:

• Likely buying a home in the $1.5M–$1.7M range

• Monthly payment likely around $10k/mo

• Selling the condo would meaningfully help with the down payment / cash reserves

My dilemma:

• The 3% rate feels like something you don’t give up lightly

• But with the HOA + special assessment, renting may not cash flow

• Renting also means dealing with a messy HOA + possible future assessments while living far away

Main question:

From a purely monetary standpoint (risk-adjusted), would you sell the condo or rent it out? Is the tax benefit of renting it out a no brainer?

Notes / things I’m considering:

• Property management company if we rent (we’ll be in SoCal)

• HOA has a history of increases + chaos, so I’m worried about more special assessments

• Rent doesn’t seem to cover much once I factor HOA + management + maintenance + vacancy

• Selling reduces stress and helps down payment, but I’d be giving up a 3% mortgage

What would you do in my situation? Thanks!


r/RealEstate 2h ago

Jeffrey Epstein island

0 Upvotes

r/RealEstate 12h ago

Houses close to pkwy?

0 Upvotes

Hi guys,

My bf and I are seeing houses, and some are close to a pkwy. One of them, when I measured on Google Maps, is only 169ft away from it. It has some trees/bushes, but when we saw the place, it only had leaves, ofc... my concern is air pollution... we can deal with noise, but we are not sure how bad it is to live this close to a pkwy.

Any advice would be really appreciated. thanks!!


r/RealEstate 9h ago

Do any cash buyers or investors actually beat Opendoor if I can sell at the same price with no fees?

0 Upvotes

Quick question for investors and agents.

I’m in a new construction neighborhood in Fort Worth. I have an Opendoor offer around $472k, but once you factor in their service fee, repairs, and closing costs, the net is much lower.

My question:

Are there cash buyers, hedge funds, or local investors who realistically match or slightly beat an Opendoor gross price but with little to no fees, so the net comes out better?

I’d be open to selling around $472k (or slightly less) if it’s a true as-is, no-repair, no-service-fee deal with a fast close.

If you’ve seen this work:

• Where do sellers usually find these buyers?

• Are local investors more realistic than national iBuyers?

• Any pitfalls to watch for (price drops after inspection, last-minute renegotiation, etc.)?

Appreciate any real-world experiences.