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would you have to do your own landscaping, lawn mowing, snow removal, etc. in a townhouse?
Sorry, I had to laugh at that. I know you were just making a blanket statement. I don't think grass and snow are my concerns for landscaping in Phoenix area. I definitely don't want real grass
Sorry, I had to laugh at that. I know you were just making a blanket statement. I don't think grass and snow are my concerns for landscaping in Phoenix area. I definitely don't want real grass
If you have to deal with snow removal in Phoenix, then climate change is WAY worse than anyone says it is! lol!
Yeah, I didn't even look at your location when I said that.
If you have to deal with snow removal in Phoenix, then climate change is WAY worse than anyone says it is! lol!
Yeah, I didn't even look at your location when I said that.
I am fine with shoveling heat and wiping my car from dust rather than ice and snow
I have seen HOAs being quite lower in "townhomes" vs HOAs. That's why I kind of figured they were very different. Must mean you have more control over your home in townhome. Also means you have to fork out more $$ for roof and outside repairs?
Sometimes I see high HOAs and wonder if you are just paying to live on some fake lake or in a "nice" area. I mean, if it covered internet, all utilities (except electric) and had free wine and cheese hour every Friday then I'd say it's worth it LOL
Guess it depends what you care about. I want the amenities to be nice and kept clean but could care less about a spa or 3 heated pools etc.
Do you have family to help you through the process? If not, please understand that although lawyers are expensive, they are a bargain compared to the mess a realtor could leave you with. Realtors are interested in closing the deal to collect their commission so totally ignore all their "friendly" banter, it is only a game to them to get you to sign. You need someone on your side who has no financial interest in the outcome and who can objectively explain the huge financial risks you accept by living in a community. Commissioned sales people will not show you For Sale By Owner but do not over look them. A lawyer can monitor them as well as explain the HOA financials and regs without bias better than a commission salesperson.
Hire an independent inspector. All salespeople just happen to know a great one (on their gravy train) to inspect the property. Better yet, instead of hiring an inspector, hire several professionals like electricians and plumbers to inspect. You can change the inside of a house but not the neighborhood so pay careful attention!
Please read all the threads and google information about HOAs to get a true picture of what you are agreeing to if you purchase one. If it makes financial sense to you to buy one at this time, then start looking for your next house the day you close on the condo as short term is the only way to go.
Just watch how they will now circle their wagons and attack but what I am telling you has been taught to me by them, much of it in Phoenix, which is why I avoid them at all costs.
So I would love to know what an agent did you to make you feel this way? You've trolled the board for years but never actually told us your beef that I'm aware of.
Yes, there are bad and inexperienced agents out there. Nobody, agents included, is denying that. I wish people would spend more time interviewing agents and making better hires. That would help immensely.
A few notes, I sent an offer to a FSBO Saturday on behalf of a client and I've shown probably half a dozen fsbo's this year. So have my agents. Attorneys and agents perform different job functions but there is some crossover. I want referrals and happy clients. Most agent I know want clients to be happy. I recommend inspectors I trust to do a quality inspection. The last thing I want is to end up with an unhappy client or worse in court over an inspection. On the flip side, some of the worst inspections I've seen were where the client hired their own, because they don't have any previous experience with these companies to work off of.
So I would love to know what an agent did you to make you feel this way? You've trolled the board for years but never actually told us your beef that I'm aware of.
Yes, there are bad and inexperienced agents out there. Nobody, agents included, is denying that. I wish people would spend more time interviewing agents and making better hires. That would help immensely.
A few notes, I sent an offer to a FSBO Saturday on behalf of a client and I've shown probably half a dozen fsbo's this year. So have my agents. Attorneys and agents perform different job functions but there is some crossover. I want referrals and happy clients. Most agent I know want clients to be happy. I recommend inspectors I trust to do a quality inspection. The last thing I want is to end up with an unhappy client or worse in court over an inspection. On the flip side, some of the worst inspections I've seen were where the client hired their own, because they don't have any previous experience with these companies to work off of.
Lawyers ARE required in some states for closing but no AZ. I don't really see myself needing one if it's not necessary. I don't know anyone who has one on call unless they were hired to help out in a specifically hairy situation.
I was shocked to hear my friends say they just looked up realtors and lenders and picked the first one. I am actually in contact with about 3 agents now and 4 lenders on my list to call for pre-qual when I am there.
I think it's just EASY to go with whomever your family or friends refer you to but as a co-worker mentoned, she went through at least 3 realtors before getting one that worked for her. That is, she worked with 3 in the actual process and essentially fired them for whatever reason (I didn't ask).
My parents found a realtor when they were buying a house here in AZ. He recomended a lender friend he uses but they were very disorganized and gave my parents a hard time. Mind you, they were paying CASH for half the house (410k total sale price). They worked with someone who didn't know what they were doing. So it makes me weary of just going with whomever is "friends" with someone or what. It's not about their relationship with lenders and whomever, it's about all the parties' relationship with me. I guess it's hard to REALLY know what you are into until you get to signing and dirty work but I am glad and I am doing what I am doing now since I do have the luxury of time
Lawyers ARE required in some states for closing but no AZ. I don't really see myself needing one if it's not necessary. I don't know anyone who has one on call unless they were hired to help out in a specifically hairy situation.
I was shocked to hear my friends say they just looked up realtors and lenders and picked the first one. I am actually in contact with about 3 agents now and 4 lenders on my list to call for pre-qual when I am there. ...
True on the first. My state is actually one that has attorneys handle the closing. They are not involved in the contract or negotiations though, they just perform the same functions as the title company. Some states, NY/NJ come to mind, have attorneys write the contract.
About 10 years ago the state hired an attorney to run LLR and she attempted to have a law in place that agents couldn't write contracts, that buyers would have to hire an attorney to do that. It didn't go anywhere, thankfully because it would have further complicated things and cost the clients more money, and she didn't last all that long at LLR.
You're right, an astronomically high percentage of people hire the first agent they meet. You'd think on the most expensive transaction they've ever made they'd do some research and interview a few folks.
So if you have interviewed or talked to a few realtors, what is something he/she did that made you pick them. Anything stand out? I am assuming you've met them as well before going on board with them too
So if you have interviewed or talked to a few realtors, what is something he/she did that made you pick them. Anything stand out? I am assuming you've met them as well before going on board with them too
Let me throw this in. The most important thing is that the agent KNOWS the area you're looking to buy. (They also need to know the area if you're selling too.)
Tools like "Yelp" or other rating services can help too. Check to see what the agent's fb or instagram profile looks like. Read what they say. You can learn a lot by what people say. Linkedin and other professional sites are a clue too.
Or, see who CostCo uses for their RE transactions.
Chances are, Costco has vetted the people that represent them...
Let me throw this in. The most important thing is that the agent KNOWS the area you're looking to buy. (They also need to know the area if you're selling too.)
Tools like "Yelp" or other rating services can help too. Check to see what the agent's fb or instagram profile looks like. Read what they say. You can learn a lot by what people say. Linkedin and other professional sites are a clue too.
Or, see who CostCo uses for their RE transactions.
Chances are, Costco has vetted the people that represent them...
Yeah no to the costo thing. I don't like the idea of using one store for doing every single thing in my life. I don't shop in bulk and don't like the culture of costco
I guess any agent can tell you he/she KNOWS an area but I guess that is something you won't really see upfront until you get out on the field
IF you intend to keep the property, why on Earth would you choose to pay on it for an additional 15 years? Especially if the 15 year monthly doesn't hurt you? Nothing wrong with "saving a ton in interest." (The mortgage interest deduction elimination has been floated before. Plan on it happening again soon...)
The other side of the coin is to get the 30, THEN make add'l payments when cash is available. THAT should shorten your term. It also allows you to "choose" to make accelerated payments, or not.
The LAST thing you want to be, is saddled with payments on anything, when you're on SS. Check your age now, add in 15 or 30 years. You gonna be on social security by then? Something to think about.
You will save on interest, that's true. 3.5% - 4%. A stock market index fund is likely to gain 8% to 10% per year over the same 30 year period. The better use of the money is to out gain the interest savings by funding a 401k or even a rental property with that $$.
At the end of 30 years, when the mortgage is paid, the property taxes and insurance will likely make the monthly principal & interest look like a basic cable TV bill due to inflation. The advantage in having P&I paid in full would be minimal. The simple index fund investment will have grown far past any savings in interest paid, and can now pay you.
Borrowed money can be put to very good use. The all too common "knee-jerk reaction" to debt being bad in any scenario is plain 'ol ridiculous.
Last edited by tommy64; 09-20-2020 at 05:05 PM..
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