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Old 05-03-2018, 12:07 PM
 
Location: Tennessee
20,958 posts, read 15,275,811 times
Reputation: 23737

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This is happening in major cities and resort areas all over the country.
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Old 05-03-2018, 03:24 PM
 
2,360 posts, read 1,027,668 times
Reputation: 2071
Quote:
Originally Posted by Aredhel View Post
Very true.



Also true. In fact, using the old "no more than 3x your income" rule of home affordability, the OP could afford one of those $100k houses. And he doesn't even need to have a full 20% down; an FHA loan allows a down payment as low as 3%. He should start preparing to buy instead of complaining abut how he's being priced out of the market.
Back the bus up..


I applied for FHA and got the 3.5% down approval, and currently putting little bit of cash in a savings account that i cant pull out for a year. ( keeps me from looking at it).

So the housing i was looking at started at 100k for a small 2bd 600sq house, up to 350k fro a 4bd and 2400+sq. Like some body said, and i just totally forgot about the VA loans with zero down and min credit of 540 will get you in it, just dont get how they can allow zero down with a low credit such as that. Be the same bank that tells others they want 640+ with down payments. But join the military and instantly get zero down no matter what. I get it you earn it ,but come on..

Now with the auction comment, it is a HUGE disadvantage to a average joe to be out bid by a property firm. Simple fact these firms have cash on hand and buy up everything. If the county auctions would put a limit to one house/property per person, then it will be a even field. If they want to sell in bulk then create a dealer only auction for this purpose.

People are really getting tired of being push out of their homes, so the rich can take over. Like somebody post, citys and surrounding areas are getting more and more designed for the rich and famous, mean while the rest are push out to the woods and shacks. O thats right, you want me to work 2-3 jobs and have zero family time just to have the basics.. How about stop inflating the cost of goods and other things.
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Old 05-03-2018, 04:10 PM
 
Location: Formerly Pleasanton Ca, now in Marietta Ga
4,111 posts, read 3,402,459 times
Reputation: 5633
Quote:
Originally Posted by hitpausebutton2 View Post
Back the bus up..


I applied for FHA and got the 3.5% down approval, and currently putting little bit of cash in a savings account that i cant pull out for a year. ( keeps me from looking at it).

So the housing i was looking at started at 100k for a small 2bd 600sq house, up to 350k fro a 4bd and 2400+sq. Like some body said, and i just totally forgot about the VA loans with zero down and min credit of 540 will get you in it, just dont get how they can allow zero down with a low credit such as that. Be the same bank that tells others they want 640+ with down payments. But join the military and instantly get zero down no matter what. I get it you earn it ,but come on..

Now with the auction comment, it is a HUGE disadvantage to a average joe to be out bid by a property firm. Simple fact these firms have cash on hand and buy up everything. If the county auctions would put a limit to one house/property per person, then it will be a even field. If they want to sell in bulk then create a dealer only auction for this purpose.

People are really getting tired of being push out of their homes, so the rich can take over. Like somebody post, citys and surrounding areas are getting more and more designed for the rich and famous, mean while the rest are push out to the woods and shacks. O thats right, you want me to work 2-3 jobs and have zero family time just to have the basics.. How about stop inflating the cost of goods and other things.
Once again, no one is promised a house. You can work an extra job and sacrifice a year of family time to get the house. Once you're in you pay less than rent. You can quit from there.
Thousands and thousands work two jobs, maybe three to make ends meet or save up to buy a house, why are you the exception that wants it given to him? Some sacrifice family time now to go to school to get a better job so in the future they can have that family time.

When I went to auctions there were no companies, just individuals. I got outbid by others like myself. In some cases I think they overpaid. How did they come up with the cash to compete? Well maybe they worked two jobs for a few years to come up with the money, something you refuse to do.
Maybe they teamed up with other people and pooled their money together. I saw a few of those that had relatives all pitch in to have a share in that house if they got it.
Even if they limited it to one house you will still be whining because someone will have saved more money than you because they worked for it and you didn't. Next you'll require that they can only have one job and not be allowed to work two jobs or work extra hard to attain a goal. That way lazy people have the same chance.

Where I am from I got priced out. I got pushed out too, but instead of spending all my time whining here about how the world is unfair I moved to a cheaper place and where I could increase my income and houses were cheaper. Two years later I bought a house. I don't live in the woods in a shack either-so what's your excuse now?

The more you dwell on the same thing over and over the more I think you are related to the other poster here freemkt.
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Old 05-03-2018, 04:29 PM
 
2,360 posts, read 1,027,668 times
Reputation: 2071
Quote:
Originally Posted by aslowdodge View Post
Once again, no one is promised a house. You can work an extra job and sacrifice a year of family time to get the house. Once you're in you pay less than rent. You can quit from there.
Thousands and thousands work two jobs, maybe three to make ends meet or save up to buy a house, why are you the exception that wants it given to him? Some sacrifice family time now to go to school to get a better job so in the future they can have that family time.

When I went to auctions there were no companies, just individuals. I got outbid by others like myself. In some cases I think they overpaid. How did they come up with the cash to compete? Well maybe they worked two jobs for a few years to come up with the money, something you refuse to do.
Maybe they teamed up with other people and pooled their money together. I saw a few of those that had relatives all pitch in to have a share in that house if they got it.
Even if they limited it to one house you will still be whining because someone will have saved more money than you because they worked for it and you didn't. Next you'll require that they can only have one job and not be allowed to work two jobs or work extra hard to attain a goal. That way lazy people have the same chance.

Where I am from I got priced out. I got pushed out too, but instead of spending all my time whining here about how the world is unfair I moved to a cheaper place and where I could increase my income and houses were cheaper. Two years later I bought a house. I don't live in the woods in a shack either-so what's your excuse now?

The more you dwell on the same thing over and over the more I think you are related to the other poster here freemkt.
Who is Freemkt?

Its a difference getting beat by another family vs a property management Firm. I would be happy to be out bid by a family that saved up vs a business that is buying them up only to resell them the next day at higher rate. Those are the ones that needs to be kicked out of public auctions or wait till their is dealer auctions for this very reason. That is the problem with our nation, everybody is sacrificing family time for big business games. Could be reason why our kids are acting the way they are now, because nobody home to teach them anything. But i will wait for your response, "should have waited to have kids when your able to have free time" remarks. Well just like a normal person, some kids are plan and some are not and you deal with it. But doesnt mean that we should sacrifice our time to make some other person rich while they sit on the beach.

*Didnt take long before everybody click on the names and see all their back posts.. makes you feel entitle some how?

Last edited by hitpausebutton2; 05-03-2018 at 04:42 PM..
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Old 05-03-2018, 04:33 PM
 
Location: The analog world
15,572 posts, read 8,742,257 times
Reputation: 20883
Quote:
Originally Posted by hitpausebutton2 View Post
Who is Freemkt?

Its a difference getting beat by another family vs a property management Firm. I would be happy to be out bid by a family that saved up vs a business that is buying them up only to resell them the next day at higher rate. Those are the ones that needs to be kicked out of public auctions or wait till their is dealer auctions for this very reason. That is the problem with our nation, everybody is sacrificing family time for big business games. Could be reason why our kids are acting the way they are now, because nobody home to teach them anything. But i will wait for your response, "should have waited to have kids when your able to have free time" remarks. Well just like a normal person, some kids are plan and some are not and you deal with it. But doesnt mean that we should sacrifice our time to make some other person rich while they sit on the beach.
I doubt that. You should see the vitriol reserved for people who relocate from more expensive locales to the Front Range, especially those from California. One of the kinder terms for us is "equity locusts" and it only becomes more vicious from there. Nobody likes to be displaced.
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Old 05-03-2018, 04:41 PM
 
2,360 posts, read 1,027,668 times
Reputation: 2071
Quote:
Originally Posted by randomparent View Post
I doubt that. You should see the vitriol reserved for people who relocate from more expensive locales to the Front Range, especially those from California. One of the kinder terms for us is "equity locusts" and it only becomes more vicious from there. Nobody likes to be displaced.
But are they are buying for themselves to live in?, vs just buying and turning them in to rentals, when a family is already wanting to buy it and live in it.
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Old 05-03-2018, 04:49 PM
 
Location: Omaha, Nebraska
6,297 posts, read 3,477,426 times
Reputation: 14916
Quote:
Originally Posted by hitpausebutton2 View Post
Its a difference getting beat by another family vs a property management Firm.
No, it's not. In both cases you lose out on purchasing a house.

Houses on average sell for market price. Who the buyer is doesn't change that fact. Whether private owner or commercial firm, no one want to pay more than is absolutely necessary to purchase a particular house. Everyone tries to buy for the lowest possible price (and when it comes time to sell, to sell for the highest possible price). If you outbid the other would-be buyers and your offer is clean with few contingencies on it, you'll get the house. That's how the real estate market works.

Last edited by Aredhel; 05-03-2018 at 05:04 PM..
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Old 05-03-2018, 04:57 PM
 
Location: The analog world
15,572 posts, read 8,742,257 times
Reputation: 20883
Quote:
Originally Posted by hitpausebutton2 View Post
But are they are buying for themselves to live in?, vs just buying and turning them in to rentals, when a family is already wanting to buy it and live in it.
Oh honey, you are nave. Come hang out in the Denver forum for a few days, and you'll see what I mean. It doesn't matter if we live in the house or not; we're the enemy displacing native Coloradoans. As a parent of college-age kids who want to remain in the west, I'm sympathetic, but when a 3bd/2bth basic tract house in a good school district has been pushed into the half-million dollar range, the fight goes nuclear and no buyer cares if it's a nice family from the Bay Area wanting to relocate permanently. It's war.

Last edited by randomparent; 05-03-2018 at 05:05 PM.. Reason: punctuation
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Old 05-03-2018, 05:00 PM
 
2,240 posts, read 1,386,969 times
Reputation: 4894
Quote:
Originally Posted by hitpausebutton2 View Post
Back the bus up..


I applied for FHA and got the 3.5% down approval, and currently putting little bit of cash in a savings account that i cant pull out for a year. ( keeps me from looking at it).

So the housing i was looking at started at 100k for a small 2bd 600sq house, up to 350k fro a 4bd and 2400+sq. Like some body said, and i just totally forgot about the VA loans with zero down and min credit of 540 will get you in it, just dont get how they can allow zero down with a low credit such as that. Be the same bank that tells others they want 640+ with down payments. But join the military and instantly get zero down no matter what. I get it you earn it ,but come on..

Now with the auction comment, it is a HUGE disadvantage to a average joe to be out bid by a property firm. Simple fact these firms have cash on hand and buy up everything. If the county auctions would put a limit to one house/property per person, then it will be a even field. If they want to sell in bulk then create a dealer only auction for this purpose.

People are really getting tired of being push out of their homes, so the rich can take over. Like somebody post, citys and surrounding areas are getting more and more designed for the rich and famous, mean while the rest are push out to the woods and shacks. O thats right, you want me to work 2-3 jobs and have zero family time just to have the basics.. How about stop inflating the cost of goods and other things.
Why are you entitled to get a lower price than market? The thing you have failed to recognize in nearly every post across your 2 active threads is that you are only ONE side/part of the market.

Do you consider the person who may own a home? Should they not get the best price so they have more time with their family? Or maybe they want a bigger and nicer house? You acknowledge how hard it is to get into a home. Should those who made sacrifices to get to that station in life be expected to take less simply because you want, not a fair deal decided by the market, but a deal tipped arbitrarily to your favor?
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Old 05-03-2018, 05:05 PM
 
2,360 posts, read 1,027,668 times
Reputation: 2071
Quote:
Originally Posted by Aredhel View Post
No, it's not. In both cases you lose out on purchasing a house.

Houses on average sell for market price. Who the buyer is doesn't change that fact. Whether private owner or commercial firm, no one want to pay more than is absolutely necessary to purchase a particular house. Everyone tries to buy for the lowest possible price (and when it comes time to sell, sell for the highest possible price). If you outbid the other would-be buyers and your offer is clean with few contingencies on it, you'll get the house. That's how the real estate market works.
Cash on hand vs business account makes a huge difference.

Business can out bid a family very very quickly and not blink a eye about it. I witness this first hand, some business paid above market price just to keep it from going to the little guy. One guy bought 5 houses at or above market value, just to turn them in to rentals. Their was a lot of tick off people at this auction and i dont blame them, because lot of dealers were jacking up the price to wittle down the pack.
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