I'm buying property this week - GoFuckYourself.com

BradM · 04-03-2004, 07:38 PM

The market is so insane right now.

I called a real estate agent and we're looking at a couple places.
I was looking at 3 but they all sold in like 6 hours of being listed.

First time buyer. Any tips?

BradM · 04-03-2004, 08:24 PM

No one bought before?

I mean I have a basic idea of what to and what not to look for. And I will be bringing my dad along (who has owned many properties) but hey you never know GFY might have something to offer.

DR_PHIL · 04-03-2004, 08:26 PM

damn man u must live in a hot area

Hotwife · 04-03-2004, 08:38 PM

Make sure you have a good real estate agent that knows exactly what you're looking for. One that will work their ass off. It's obvious you live in a "hot" real estate area, so it can get pretty competitive.

Hopefully you'll find a seller that's anxious to sell = a better deal for you. The times I've looked for a house, I fell completely in love with several - then didn't get them because we were too late. It pays to be patient though because the houses that I saw after those were always better. Good luck!!

i am a lurker · 04-03-2004, 08:43 PM

ignore everything hotwife just told you.

do your own research dont rely on the real estate agent.

Look up MLS prices for homes in your potential area, amount they sold for this month, 6 months ago, 12 months ago, 24 months ago. Calculate your own appreciation and all that fun stuff.

real estate agents are idiots.

doober · 04-03-2004, 08:43 PM

house or condo?

i been looking at some condos lately, market is very tight tho

slapass · 04-03-2004, 08:45 PM

wait 2 months as no market stays that hot. You will get the house you want at a better price in a few months.

Hotwife · 04-03-2004, 08:49 PM

Some folks have problems with real estate agents and some don't. If you don't have the time to devote 24/7 to finding a house, an agent can get the latest listings and even some that aren't listed YET.

i am a lurker · 04-03-2004, 08:50 PM

Quote:

Originally posted by slapass
wait 2 months as no market stays that hot. You will get the house you want at a better price in a few months.

you are kidding right

BradM · 04-03-2004, 08:52 PM

I'm looking at a condo/apartmenet to rent out.
Or if I can find a killer deal go for a house.

I'm going to use an agent to do the bulk of the shit work for me. But I plan on researching MLS heavily myself.

Thanks guys.

detoxed · 04-03-2004, 08:53 PM

Quote:

Originally posted by slapass
wait 2 months as no market stays that hot. You will get the house you want at a better price in a few months.

Yep right after rising interest rates offset the price difference

TekayRoyal · 04-03-2004, 08:54 PM

Quote:

Originally posted by i am a lurker
ignore everything hotwife just told you.

do your own research dont rely on the real estate agent.

Look up MLS prices for homes in your potential area, amount they sold for this month, 6 months ago, 12 months ago, 24 months ago. Calculate your own appreciation and all that fun stuff.

real estate agents are idiots.

these r some very good points.....a girlfriend of mine was looking for property in chicago and asked me to come along....needless to say that agent was fired after i came along with her.....she didn't have a clue what the she was doing......i have no real estate experience and knew things that she couldn't even understand....the second you find a flaw in an agent...drop them....cuz there are too many of them to use an imcompetent one.....

things to do:
Know EXACTLY how much you can afford
Pay close attention to details when you look at houses....little flaws can be hidden well if your are not paying attention
Learn about the area you are looking at.....traffic, demographics, crime, schools, taxes....these things affect you and your resell value
Get a good loan
Do your own homework.....don't totally rely on the agent

I hope that helps

Royaltee_Gee · 04-03-2004, 08:55 PM

Quote:

Originally posted by BradM
The market is so insane right now.

I called a real estate agent and we're looking at a couple places.
I was looking at 3 but they all sold in like 6 hours of being listed.

First time buyer. Any tips?

Dude suckers buy rite now in bc.. no investors.... well not big investors.... only real estate developers are making fat cash in bc rite now... you think everyone is gonna be able to afford there houses in 2 years when interest rates rise?

TekayRoyal · 04-03-2004, 08:58 PM

Quote:

Originally posted by Royaltee_Gee

Dude suckers buy rite now in bc.. no investors.... well not big investors.... only real estate developers are making fat cash in bc rite now... you think everyone is gonna be able to afford there houses in 2 years when interest rates rise?

I don't know how it works in canada....but if your locked into a rate in the US your rates will never rise.......it stays that way for the duration of the loan.....unless you refinance....this is how my loan works anyway

detoxed · 04-03-2004, 08:59 PM

Quote:

Originally posted by Royaltee_Gee

Dude suckers buy rite now in bc.. no investors.... well not big investors.... only real estate developers are making fat cash in bc rite now... you think everyone is gonna be able to afford there houses in 2 years when interest rates rise?

If you get a fixed rate mortgage why would that matter?
ARM's are for idiots or people who plan on owning the house for less than 3 years (If its a 3 year ARM)

pornguy · 04-03-2004, 08:59 PM

Find a new listing, something that you know for a FACT that was listed in the last few days. Check the MLS number and keep it in mind. If you find a property with a smaller number that property may have been on the market for some time, and the way things are, it MAY indicate a problem with that property. Just be careful. Also remember that the agent may also represent that seller, and some agents are not that straight!!!

Be careful and have some fun with it. Take the time to learn about what you are doing.

just my

BradM · 04-03-2004, 09:02 PM

I'd probably lock into 5 years at least right away.

detoxed · 04-03-2004, 09:04 PM

Interest rates are never going to go much lower than they currently are. There is nowhere to go but up.

SureFire · 04-03-2004, 09:05 PM

Tips? Here is one real mean one. Find out why the person is selling and I don?t mean what the realtors or the owner say. If they are selling because they are facing foreclosure and you know it, you have real bargaining power. Don?t be fooled by the expensive cars parked in the driveway or garage nor the furniture.

Nice tip: make sure the dwelling has a solid foundation and roof.

Spunky · 04-03-2004, 09:06 PM

Now is the best time to buy.Property gets snapped up in hours,before you could think about it for a few days but not anymore.

KRL · 04-03-2004, 09:08 PM

i am a lurker · 04-03-2004, 09:21 PM

Quote:

Originally posted by SureFire
Tips? Here is one real mean one. Find out why the person is selling and I don?t mean what the realtors or the owner say. If they are selling because they are facing foreclosure and you know it, you have real bargaining power. Don?t be fooled by the expensive cars parked in the driveway or garage nor the furniture.

Nice tip: make sure the dwelling has a solid foundation and roof.

that is some more dumb info.

you can find out if the home is being forclosed on by going to city hall, as well as find out what liens, etc are on the home.

Takes 2 months to close, and unless you have the equity to purchase the home cash, you won't be able to get the pre-forclosure. Banks also do REO deals with investors paying cash, so you don't really have any bargaining power unless you are sitting on an open line of credit to buy the home outright.

wdsguy · 04-03-2004, 10:25 PM

Think about the financial aspects, don't buy a house because u fell in love with it.

modelgigtalent · 04-03-2004, 10:27 PM

Buy in Las Vegas. People are making bank here.

BradM · 04-03-2004, 10:32 PM

Quote:

Originally posted by modelgigtalent
Buy in Las Vegas. People are making bank here.

I'd rather buy local so I can manage it- going to be renting it out

04-03-2004, 07:38 PM	#1
BradM Confirmed User Join Date: Dec 2003 Location: 1123,6536,5231 Posts: 3,397	I'm buying property this week The market is so insane right now. I called a real estate agent and we're looking at a couple places. I was looking at 3 but they all sold in like 6 hours of being listed. First time buyer. Any tips?

04-03-2004, 08:59 PM	#16
pornguy Too lazy to set a custom title Industry Role: Join Date: Mar 2003 Location: Homeless Posts: 62,911	Find a new listing, something that you know for a FACT that was listed in the last few days. Check the MLS number and keep it in mind. If you find a property with a smaller number that property may have been on the market for some time, and the way things are, it MAY indicate a problem with that property. Just be careful. Also remember that the agent may also represent that seller, and some agents are not that straight!!! Be careful and have some fun with it. Take the time to learn about what you are doing. just my __________________ PornGuy skype me pornguy_epic AmateurDough The Hottes Shemales online! TChicks.com \| Angeles Cid \| Mariana Cordoba \| MAILERS WELCOME!

04-03-2004, 09:06 PM	#20
Spunky I need a beer Industry Role: Join Date: Jun 2002 Location: ♠ Toiletville ♠ Posts: 133,944	Now is the best time to buy.Property gets snapped up in hours,before you could think about it for a few days but not anymore. __________________ *YOUR INFORMATION HERE*

04-03-2004, 09:08 PM	#21
KRL Entrepreneur Join Date: Oct 2002 Location: USA Posts: 31,429	__________________ If you would like to develop your domains, you can lease inexpensive foreign labor from the leaders in the field at iWebmasters.com TO LOWER YOUR COSTS AND INCREASE YOUR PRODUCTION! * * * * * * * * * * * * Domains Adult News KRL's Newsletter Biz Tips Just Listed Domains

04-03-2004, 10:27 PM	#24
modelgigtalent Confirmed User Join Date: May 2003 Location: Sin Sity - Hit me here! ICQ: 165829688 Posts: 2,208	Buy in Las Vegas. People are making bank here. __________________ Web marketing - video editing - color correcting and more. ICQ -165829688

04-03-2004, 08:24 PM	#2
BradM Confirmed User Join Date: Dec 2003 Location: 1123,6536,5231 Posts: 3,397	No one bought before? I mean I have a basic idea of what to and what not to look for. And I will be bringing my dad along (who has owned many properties) but hey you never know GFY might have something to offer.

04-03-2004, 08:26 PM	#3
DR_PHIL Confirmed User Join Date: Oct 2002 Location: Never visits the same thread twice Posts: 4,099	damn man u must live in a hot area

04-03-2004, 08:38 PM	#4
Hotwife Registered User Industry Role: Join Date: Dec 2003 Location: Arizona Posts: 67	Make sure you have a good real estate agent that knows exactly what you're looking for. One that will work their ass off. It's obvious you live in a "hot" real estate area, so it can get pretty competitive. Hopefully you'll find a seller that's anxious to sell = a better deal for you. The times I've looked for a house, I fell completely in love with several - then didn't get them because we were too late. It pays to be patient though because the houses that I saw after those were always better. Good luck!!

04-03-2004, 08:43 PM	#5
i am a lurker Confirmed User Join Date: Mar 2004 Posts: 521	ignore everything hotwife just told you. do your own research dont rely on the real estate agent. Look up MLS prices for homes in your potential area, amount they sold for this month, 6 months ago, 12 months ago, 24 months ago. Calculate your own appreciation and all that fun stuff. real estate agents are idiots.

04-03-2004, 08:43 PM	#6
doober Confirmed User Join Date: Jul 2003 Location: in yoOoo kitchen Posts: 6,984	house or condo? i been looking at some condos lately, market is very tight tho

04-03-2004, 08:45 PM	#7
slapass Too lazy to set a custom title Join Date: Nov 2002 Location: Earth Posts: 14,622	wait 2 months as no market stays that hot. You will get the house you want at a better price in a few months.

04-03-2004, 08:49 PM	#8
Hotwife Registered User Industry Role: Join Date: Dec 2003 Location: Arizona Posts: 67	Some folks have problems with real estate agents and some don't. If you don't have the time to devote 24/7 to finding a house, an agent can get the latest listings and even some that aren't listed YET.

04-03-2004, 08:52 PM	#10
BradM Confirmed User Join Date: Dec 2003 Location: 1123,6536,5231 Posts: 3,397	I'm looking at a condo/apartmenet to rent out. Or if I can find a killer deal go for a house. I'm going to use an agent to do the bulk of the shit work for me. But I plan on researching MLS heavily myself. Thanks guys.

04-03-2004, 09:02 PM	#17
BradM Confirmed User Join Date: Dec 2003 Location: 1123,6536,5231 Posts: 3,397	I'd probably lock into 5 years at least right away.

04-03-2004, 09:04 PM	#18
detoxed vip member Join Date: Jan 2003 Posts: 17,798	Interest rates are never going to go much lower than they currently are. There is nowhere to go but up.

04-03-2004, 09:05 PM	#19
SureFire Confirmed User Join Date: Jan 2003 Location: internet Posts: 4,398	Tips? Here is one real mean one. Find out why the person is selling and I don?t mean what the realtors or the owner say. If they are selling because they are facing foreclosure and you know it, you have real bargaining power. Don?t be fooled by the expensive cars parked in the driveway or garage nor the furniture. Nice tip: make sure the dwelling has a solid foundation and roof.

04-03-2004, 10:25 PM	#23
wdsguy Ryde or Die Industry Role: Join Date: Dec 2002 Location: California-Shanghai Posts: 19,568	Think about the financial aspects, don't buy a house because u fell in love with it.