IlliniKrush Posted April 26, 2013 Share Posted April 26, 2013 QUOTE (bigruss22 @ Apr 26, 2013 -> 12:42 PM) I would imagine the pool of interested buyers is definitely smaller. That's definitely a place I would love to lease but not buy. It would never feel like a home to me. I would think I was living in some sort of art gallery. Quote Link to comment Share on other sites More sharing options...
Soxbadger Posted April 26, 2013 Share Posted April 26, 2013 Shack, Id date your ex sight unseen just for the house Quote Link to comment Share on other sites More sharing options...
iamshack Posted April 26, 2013 Author Share Posted April 26, 2013 QUOTE (Soxbadger @ Apr 26, 2013 -> 12:31 PM) Shack, Id date your ex sight unseen just for the house It is a great house! Quote Link to comment Share on other sites More sharing options...
iamshack Posted April 30, 2013 Author Share Posted April 30, 2013 I *think* we have a deal on the house I found that was not on the market...made an offer yesterday, and the seller called me today to discuss. So much nicer to just speak with a reasonable person over the phone and come to an agreement rather than to do this song and dance with the counters and counter-counters, and all that. Sending him a new offer tonight with what we agreed on over the phone...hoping to have an acceptance tomorrow... Then on to the next big hurdle...the appraisal... Quote Link to comment Share on other sites More sharing options...
farmteam Posted May 1, 2013 Share Posted May 1, 2013 QUOTE (iamshack @ Apr 30, 2013 -> 05:37 PM) I *think* we have a deal on the house I found that was not on the market...made an offer yesterday, and the seller called me today to discuss. So much nicer to just speak with a reasonable person over the phone and come to an agreement rather than to do this song and dance with the counters and counter-counters, and all that. Sending him a new offer tonight with what we agreed on over the phone...hoping to have an acceptance tomorrow... Then on to the next big hurdle...the appraisal... Good luck! Quote Link to comment Share on other sites More sharing options...
bigruss Posted May 1, 2013 Share Posted May 1, 2013 (edited) A place just went on the market in a building that I've had my eyes on (only like 9 units), and it's just slightly out of my range, so hopefully we could make it work if I like it in person. EDIT: And good luck shack! Hopefully all that work pays off in the end for you. Edited May 1, 2013 by bigruss22 Quote Link to comment Share on other sites More sharing options...
iamshack Posted May 8, 2013 Author Share Posted May 8, 2013 So no deal on the off the market home...guy had tenants and no way to get rid of them until the end of the year. A new house popped on the market over the weekend that we liked, so we have an offer in on that that we are trying to sort of slow play, because we finally got the sellers of the home that kept rejecting us to allow us to perform an appraisal to serve as the basis for negotiations...that is taking place right now...hoping to have the number by Monday or so...I'm dying to see what they come up with... Rock, what's going on with your search? Quote Link to comment Share on other sites More sharing options...
RockRaines Posted May 8, 2013 Share Posted May 8, 2013 (edited) QUOTE (iamshack @ May 8, 2013 -> 01:46 PM) So no deal on the off the market home...guy had tenants and no way to get rid of them until the end of the year. A new house popped on the market over the weekend that we liked, so we have an offer in on that that we are trying to sort of slow play, because we finally got the sellers of the home that kept rejecting us to allow us to perform an appraisal to serve as the basis for negotiations...that is taking place right now...hoping to have the number by Monday or so...I'm dying to see what they come up with... Rock, what's going on with your search? Lost the first place due to some idiot paying WAY more than market price. Not everyone needs renovation it appears. I then found another place that I really liked, put an offer on it and they decided not to sell or it was happening way too fast. So still looking. Went to 10 showings last friday and they all sucked. Maybe not all, but the one I like was in the heart of wicker park and I commute too much to deal with that. Edited May 8, 2013 by RockRaines Quote Link to comment Share on other sites More sharing options...
Chisoxfn Posted May 9, 2013 Share Posted May 9, 2013 Closed escrow on our new place on Monday. Putting in new wood floor right now. Moving in in about 10 days. Pretty excited, but very house-poor, haha. Quote Link to comment Share on other sites More sharing options...
iamshack Posted May 9, 2013 Author Share Posted May 9, 2013 QUOTE (Chisoxfn @ May 9, 2013 -> 01:35 PM) Closed escrow on our new place on Monday. Putting in new wood floor right now. Moving in in about 10 days. Pretty excited, but very house-poor, haha. Sweet! How much are the floors running you? Quote Link to comment Share on other sites More sharing options...
RockRaines Posted May 9, 2013 Share Posted May 9, 2013 QUOTE (Chisoxfn @ May 9, 2013 -> 03:35 PM) Closed escrow on our new place on Monday. Putting in new wood floor right now. Moving in in about 10 days. Pretty excited, but very house-poor, haha. Congrats im jealous. Quote Link to comment Share on other sites More sharing options...
Chisoxfn Posted May 9, 2013 Share Posted May 9, 2013 QUOTE (iamshack @ May 9, 2013 -> 01:37 PM) Sweet! How much are the floors running you? $7500 (which includes installation). We are doing a nice darker color wood with a rustic look (so has some scuffs in it, etc...that way when it gets the wear and tear of our use, it doesn't stand out). In the bathrooms/laundry room are installing 20 inch tiles (travertine). About 650 square feet of wood and 200 square feet of title. It also included the cost to rip everything out and removing/replacing the big base boards we have (so that you don't have to use quarter round). Next up on my list of things to do will be painting, installing my new appliances (some Bosh appliances...thank you friends employee discount), and installing 3/1/2 inch clear view shutters. Then I'm done and poor and will be focused on creating the baby nursery. Quote Link to comment Share on other sites More sharing options...
Chisoxfn Posted May 9, 2013 Share Posted May 9, 2013 I read an article yesterday that the Mortgage Bankers Association is projecting a rise of 30 year loans rates to 4.4 by the end of the year. No idea what the basis for that is and it just might be the association wants to create some nice marketing to force another uptick in refi's, haha. Realistically, it is based upon improvements in the economy. Quote Link to comment Share on other sites More sharing options...
iamshack Posted May 9, 2013 Author Share Posted May 9, 2013 QUOTE (Chisoxfn @ May 9, 2013 -> 02:13 PM) $7500 (which includes installation). We are doing a nice darker color wood with a rustic look (so has some scuffs in it, etc...that way when it gets the wear and tear of our use, it doesn't stand out). In the bathrooms/laundry room are installing 20 inch tiles (travertine). About 650 square feet of wood and 200 square feet of title. It also included the cost to rip everything out and removing/replacing the big base boards we have (so that you don't have to use quarter round). Next up on my list of things to do will be painting, installing my new appliances (some Bosh appliances...thank you friends employee discount), and installing 3/1/2 inch clear view shutters. Then I'm done and poor and will be focused on creating the baby nursery. Cool...we've been looking at a number of homes that will need new flooring, so I was curious...not sure if I will go with wood or concrete though. Quote Link to comment Share on other sites More sharing options...
RockRaines Posted May 10, 2013 Share Posted May 10, 2013 QUOTE (Chisoxfn @ May 9, 2013 -> 04:21 PM) I read an article yesterday that the Mortgage Bankers Association is projecting a rise of 30 year loans rates to 4.4 by the end of the year. No idea what the basis for that is and it just might be the association wants to create some nice marketing to force another uptick in refi's, haha. Realistically, it is based upon improvements in the economy. Yeah, get into the sub 3's while they still exist. I think as the rates go up the market will correct it self a little. Quote Link to comment Share on other sites More sharing options...
iamshack Posted May 15, 2013 Author Share Posted May 15, 2013 (edited) Have a pending contract finally...now we have to sweat out the appraisal for a week... Edited May 15, 2013 by iamshack Quote Link to comment Share on other sites More sharing options...
bigruss Posted May 16, 2013 Share Posted May 16, 2013 Congrats shack! Will need some pics when it's finalized! Anyone ever go through a short sale? So far all the best places tend to be short sales where I'm looking. Quote Link to comment Share on other sites More sharing options...
iamshack Posted May 16, 2013 Author Share Posted May 16, 2013 QUOTE (bigruss22 @ May 15, 2013 -> 05:34 PM) Congrats shack! Will need some pics when it's finalized! Anyone ever go through a short sale? So far all the best places tend to be short sales where I'm looking. Thanks, Russ... As for the short sales...they are frustrating...but if you are willing to deal with the timeframe (3-6 months usually), you can get a pretty good deal most of the time. The key is to be patient. Quote Link to comment Share on other sites More sharing options...
Jenksismyhero Posted May 16, 2013 Share Posted May 16, 2013 QUOTE (bigruss22 @ May 15, 2013 -> 07:34 PM) Congrats shack! Will need some pics when it's finalized! Anyone ever go through a short sale? So far all the best places tend to be short sales where I'm looking. I haven't but my friends recently did and it sounded like a pain. At the end of the day they got a pretty good deal though. You just have to know going in the process takes forever since you're dealing with a large bank, not a person/couple. Quote Link to comment Share on other sites More sharing options...
RockRaines Posted May 16, 2013 Share Posted May 16, 2013 QUOTE (bigruss22 @ May 15, 2013 -> 07:34 PM) Congrats shack! Will need some pics when it's finalized! Anyone ever go through a short sale? So far all the best places tend to be short sales where I'm looking. Its a pain but if you arent in a hurry it could be worth it. Quote Link to comment Share on other sites More sharing options...
StrangeSox Posted May 16, 2013 Share Posted May 16, 2013 We went through a short sale, but we got lucky because the process had already been started but the previous buyer couldn't get a loan. We still had some back-and-forth (there were two companies with an interest in the property), but that aspect went pretty smoothly. Quote Link to comment Share on other sites More sharing options...
Jenksismyhero Posted May 16, 2013 Share Posted May 16, 2013 QUOTE (StrangeSox @ May 16, 2013 -> 10:17 AM) We went through a short sale, but we got lucky because the process had already been started but the previous buyer couldn't get a loan. We still had some back-and-forth (there were two companies with an interest in the property), but that aspect went pretty smoothly. Were you able to get all the appropriate disclosures? I know that's an issue buying foreclosed homes, not sure about short sales. Quote Link to comment Share on other sites More sharing options...
StrangeSox Posted May 16, 2013 Share Posted May 16, 2013 I think we were, lead, termites etc. No warranties and no repairs/adjustments from the home inspection, obviously, but we got the house for $30k less than appraised value (and $100k less than they had paid for it 4 years prior) and thanks to the pipes bursting right before the final inspection, $20k worth of remodeling and a new furnace on the previous owner's insurance! Heard the guy is in jail now for defrauding DuPage county, and we still get a ton of legal-looking letters for his various businesses and his IRS stuff. Quote Link to comment Share on other sites More sharing options...
RockRaines Posted May 16, 2013 Share Posted May 16, 2013 QUOTE (Jenksismyb**** @ May 16, 2013 -> 10:23 AM) Were you able to get all the appropriate disclosures? I know that's an issue buying foreclosed homes, not sure about short sales. Same with short at times. I look at a place on wabansia the other day and it was as-is for a short sale. No inspections or disclosures. Place has to be completely f***ed up. Quote Link to comment Share on other sites More sharing options...
G&T Posted May 20, 2013 Share Posted May 20, 2013 (edited) Is there anything worse than having to deal with a wife during house negotiations? No. Seriously, whatever the hell anyone asks, she is willing to pay, and more. And who is the bad guy for not jumping so fast? Me. Edited May 20, 2013 by G&T Quote Link to comment Share on other sites More sharing options...
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