Just had my offer accepted for my 1st condo

[ill]

nah, definitely not. i met her asking price, she said she had no wiggle room and its a fair number so i dont give a fukk. the issue is that she has to find a condo to buy herself, a smaller one. but who the fukk goes house hunting when they're fukkin 70 years old

but yeah i cant let this c*nt hold my deposit in escrow indefinitely shyt sucks

Talk to your agent about getting seller concessions if she's not out by the agreed upon date. You incur costs for every day that you're not in your home. You could say something like I have to pay $1500 per month for every month that I'm not in my new purchased home and she should cover it.

 

[the cac mamba]

Talk to your agent about getting seller concessions if she's not out by the agreed upon date. You incur costs for every day that you're not in your home. You could say something like I have to pay $1500 per month for every month that I'm not in my new purchased home and she should cover it.

yeah im definitely gonna, but she has some fukkin sob story about being on a fixed income and cant make concessions. but what it really is is that she bought it in 05 right before the crash, so she doesnt wanna sell it for less than she bought. im buying it at that same 05 price

so the realtors either have to dock their commission or im walking. shyt fukkin sucks this place is perfect for what i need. i might even put up with her bullshyt because it's not like i see another one that i like right now, and in the grand scheme of a 30 year mortgage a couple thousand isnt worth losing it over

 

[Cynic]

yeah im definitely gonna, but she has some fukkin sob story about being on a fixed income and cant make concessions. but what it really is is that she bought it in 05 right before the crash, so she doesnt wanna sell it for less than she bought. im buying it at that same 05 price

Why are you doing this ? Is inventory low there or something ?

so the realtors either have to dock their commission or im walking. shyt fukkin sucks this place is perfect for what i need. i might even put up with her bullshyt because it's not like i see another one that i like right now, and in the grand scheme of a 30 year mortgage a couple thousand isnt worth losing it over

There will be other places... Wait until the recession begins then you can swoop in get better value
with actual sellers not some undecisive granny

 

[the cac mamba]

Why are you doing this ? Is inventory low there or something ?



There will be other places... Wait until the recession begins then you can swoop in get better value
with actual sellers not some undecisive granny

you're right. this place checks off every fukkin box though believe me, if it didnt i would have walked a long time ago

you know what im prolly gonna do is, just take my fukkin money back and tell her she has my number if she actually wants to sell it, but im gonna look for other places. plus sue her in small claims for the cost of the appraisal, just to be a dikkhead

i mean the thing about waiting for the recession is, yeah i can wait another year and a half...but i'll have pissed away another 15 grand in rent anyway i wouldnt sell this place within 10 years so waiting for a recession doesn't really make sense. it's a perfect rental property too, eventually in 20 years or whatever

 

[Cynic]

you're right. this place checks off every fukkin box though

What's the rush ? Are you trying to lock in a rate before the Fed hikes them up ?

you know what im prolly gonna do is, just take my fukkin money back and tell her she has my number if she actually wants to sell it, but im gonna look for other places. plus sue her in small claims for the cost of the appraisal, just to be a dikkhead

 

[ill]

What's the rush ? Are you trying to lock in a rate before the Fed hikes them up ?

Housing is in short supply in northeast MA. Price jumping through the roof so finding a gem is hard.

 

[dterpsss]

place is pretty nice. im 28, putting down about 40%

any advice from the 6 certs brehs :jaymelo:

save 6 months of expenses, max 401k then buy land

 

[Cynic]

Housing is in short supply in northeast MA. Price jumping through the roof so finding a gem is hard.

When interest rates rise ...inventory will flood the market. You'll have your pick off the litter once it's recession time

 

[ill]

When interest rates rise ...inventory will flood the market. You'll have your pick off the litter once it's recession time

Hopefully

Current market in northeast MA is still hot. Only recently showing signs of a slight slowdown. Even with a recession, our housing will be limited.

 

[the cac mamba]

Hopefully

Current market in northeast MA is still hot. Only recently showing signs of a slight slowdown. Even with a recession, our housing will be limited.

yea getting a big ass 2 bedroom for 215 is pretty much right in my wheelhouse. not happening around salem, thats for sure

 

[ill]

yea getting a big ass 2 bedroom for 215 is pretty much right in my wheelhouse. not happening around salem, thats for sure

When I left Salem in 04 the highest rents in the city were around 1k. Now I see shyt for 2-3k regularly. I’d actually like to move back down there one day. I grew up there and miss that place.

 

[Sunalmighty]

You want my advice? Don't let a bytch come to your house and get comfortable

 

[GetSomeMoney]

When interest rates rise ...inventory will flood the market. You'll have your pick off the litter once it's recession time

People use to line up to pay double digit interest rates on housing loans, 5% is NOTHING, if a recession happens in the next couple of years, it won't affect most of the housing market because most of the people got in at very low rates and even though wage growth is very low, people are still employed and most will still be within the next couple of years. There will be a housing supply as the baby boomers get older but that transition is still a quite a few years away.

 

[Cynic]

People use to line up to pay double digit interest rates on housing loans, 5% is NOTHING, if a recession happens in the next couple of years, it won't affect most of the housing market because most of the people got in at very low rates and even though wage growth is very low, people are still employed and most will still be within the next couple of years. There will be a housing supply as the baby boomers get older but that transition is still a quite a few years away.

You forget to factor in the investors/speculators and landlords in this analogy...

Getting in at a low rate =/= fixed rate ... Teaser loans usually lead to foreclosures

 

[GetSomeMoney]

You forget to factor in the investors/speculators and landlords in this analogy...

Getting in at a low rate =/= fixed rate ... Teaser loans usually lead to foreclosures

The issue in the last crash were teaser rates for the average working man as well as investors. Most people bought homes after 2008 at low fixed rates, there was no need for teaser rates for anyone when you can get 3% fixed interest rates. We aren't seeing a 2008 crash anytime soon.