NinjaDoc Posted August 27, 2015 Author Report Share Posted August 27, 2015 (edited) Thx again guys, tomorrow meeting with lendor. Talking with Huntington since they have some new scheme tailored to the profession. After the pre approval is done gonna talk to a realtor specializing in "buying" we found through internet search Edited August 27, 2015 by NinjaDoc Quote Link to comment Share on other sites More sharing options...
Wolfman1 Posted August 27, 2015 Report Share Posted August 27, 2015 Doc, don't forget to ask about personal mortgage insurance or PMI. There are ways around it like putting down 20% when you purchase your home or going with a USDA rural loan. The other thing to consider is RITA or regional income tax. If you live and work in the same city it is not an issue. If you work outside the city you reside you will owe the city income tax. Again, there are ways to avoid this. I moved outside of the city to a township to avoid RITA. Just a few more items to add to the mile long list you already have! Quote Link to comment Share on other sites More sharing options...
Tpoppa Posted August 27, 2015 Report Share Posted August 27, 2015 So where were the good honest realtors that said no to people buying 10x the house they could afford priror to 2008?That's right all they care about is their commission.Andthe realtors are the one advertising on radio, especially stations that have a lot of minority listeners, that it is everyone's right to and part of the American dream to own your home and get, contact a local realtor today and they'll get you in debt for the next 30 years....Also it was the Clinton administration that threatened the banks into approving loans to people who could not afford them. And the realtors who just went a long with it.Sorry, but if you blame the housing market crash on realtors then you clearly don't understand what actually happened. The crash was mostly due to ARMs, securities based on those ARMs, and banks manipulating appraisals. The creation of the bubble and the resulting pop can't be blamed on realtors. 1 Quote Link to comment Share on other sites More sharing options...
Josh1234 Posted August 27, 2015 Report Share Posted August 27, 2015 Doc, don't forget to ask about personal mortgage insurance or PMI. There are ways around it like putting down 20% when you purchase your home or going with a USDA rural loan. The other thing to consider is RITA or regional income tax. If you live and work in the same city it is not an issue. If you work outside the city you reside you will owe the city income tax. Again, there are ways to avoid this. I moved outside of the city to a township to avoid RITA. Just a few more items to add to the mile long list you already have! Funny you should mention that... I just sent RITA $1600 Quote Link to comment Share on other sites More sharing options...
NinjaDoc Posted August 27, 2015 Author Report Share Posted August 27, 2015 Maaan, thx again for these factors, I would never have considered those angle when looking for home. Lot of saving if well planned it seems, Quote Link to comment Share on other sites More sharing options...
max power Posted August 27, 2015 Report Share Posted August 27, 2015 Sorry, but if you blame the housing market crash on realtors then you clearly don't understand what actually happened. The crash was mostly due to ARMs, securities based on those ARMs, and banks manipulating appraisals. The creation of the bubble and the resulting pop can't be blamed on realtors.Yep. Blame the banks who were forced to make substandard loans available to people who couldn't afford them and unscrupulous builders like M/I Homes. Quote Link to comment Share on other sites More sharing options...
zx3vfr Posted August 28, 2015 Report Share Posted August 28, 2015 (edited) Did you check with home savings and loan?Everyone else I talked to said no way they could touch their rate. Quicken loans actually hung up on me because I said if you can beat their rate by .01% I'll sign with you and they said sorry bye.Dave Beltz, is the guy to ask for Edited August 28, 2015 by zx3vfr Quote Link to comment Share on other sites More sharing options...
Tonik Posted August 28, 2015 Report Share Posted August 28, 2015 Yea, you got to shop the hell out of the mortgage. Interest, fees and PMI if you need it will be FAR more than the house. Quote Link to comment Share on other sites More sharing options...
NinjaDoc Posted September 2, 2015 Author Report Share Posted September 2, 2015 (edited) Got pre approved, got an agent and she is great. Finding lot of stuff that we would have missed inside the home. Small world, it turns out I sold my old zx6r to her son 4 yrs ago Anyways house hunting progressing. I don't sound like an idiot now when I talk to them thanks to you guys. Edited September 2, 2015 by NinjaDoc Quote Link to comment Share on other sites More sharing options...
Wolfman1 Posted September 2, 2015 Report Share Posted September 2, 2015 Best of luck Doc. I hope you find the house of your dreams with plenty of garage space for two wheeled toys! Quote Link to comment Share on other sites More sharing options...
redkow97 Posted September 2, 2015 Report Share Posted September 2, 2015 I cant see many reasons to use a realtor as a buyer in the age of Zillow.Zillow/Trulia let you find listings and compile comps in a much more user-friendly interface than anything a local agent is going to be working with.And you immediately cut 2-2.5% off the house price that normally would have been paid to the buyers agent.Your lendor can walk you through the nuts and bolts of the transaction just as well as an agent would have.There are plenty of attorneys who will review or draft a purchase agreement for a flat fee of a couple of hundred bucks.Negotiate with the Seller's agent0 Zillow is woefully inaccurate and slow to update. Our realtor was extremely helpful as a buying agent in 2008, and we didn't pay her a dime. She split the seller's commission. I don't know the details, and I don't particularly care... We're using the same agent to list our house (today actually), and she has taken us around to look at houses 2 or 3 times already. As helpful as the internet is for finding a house, there is no substitute for seeing it in person. You still want an agent to set up viewings (and in our case, showings). The agreement with our realtor also includes professional photography of our home, and a professional stager to advise and instruct us on how to make the photos and showings as appealing as possible. Statistically, people who take the stager's advice sell their home within 30 days of listing it. That's something like 400% faster than average. Some of the crap the stager told us to do was flatly unreasonable, or (IMHO) stupid. She wanted me to paint the bar in our closet white and rip up our carpet, because there's hardwood flooring underneath. Other suggestions were a lot more helpful (like moving my neighbor's garbage cans so you can't see them through the window in our listing pictures). Quote Link to comment Share on other sites More sharing options...
Bad324 Posted September 2, 2015 Report Share Posted September 2, 2015 Zillow is stupid. Said my last house was worth $185 yet sold for $218. Quote Link to comment Share on other sites More sharing options...
Tpoppa Posted September 2, 2015 Report Share Posted September 2, 2015 The value of my house jumped $30k in one month according to Zillow. 1 Quote Link to comment Share on other sites More sharing options...
redkow97 Posted September 2, 2015 Report Share Posted September 2, 2015 Zillow is stupid. Said my last house was worth $185 yet sold for $218. It's very formulaic. It basically calculates value based on how many bedrooms, bathrooms, square footage, and then factors in the comps in the area somehow. That said, it does not do a good job of considering very tangible things like the condition of the roof, whether or not the basement is damp, how much wallpaper is in the house, etc. Quote Link to comment Share on other sites More sharing options...
MichaelS Posted September 2, 2015 Report Share Posted September 2, 2015 Zillow is stupid. Said my last house was worth $185 yet sold for $218.It is pretty much only good for looking up the area, when it was sold, for how much etc. The actual values are not really useful at the purchasing or selling level. Quote Link to comment Share on other sites More sharing options...
Bad324 Posted September 2, 2015 Report Share Posted September 2, 2015 It is pretty much only good for looking up the area, when it was sold, for how much etc. The actual values are not really useful at the purchasing or selling level. Agreed. Quote Link to comment Share on other sites More sharing options...
bloodninja420 Posted September 2, 2015 Report Share Posted September 2, 2015 Zillow is woefully inaccurate and slow to update. Our realtor was extremely helpful as a buying agent in 2008, and we didn't pay her a dime. She split the seller's commission.There are plenty of good arguments that Realtors can add value and make home searches easier. But you can't tell me with a straight you didn't pay a dime! Look at the closing docs and you'll see exactly how much your realtor got paid. The seller nets the same amount whether a buyers agent gets paid or an (agentless) buyer pockets savings via lower gross sales price. Quote Link to comment Share on other sites More sharing options...
redkow97 Posted September 2, 2015 Report Share Posted September 2, 2015 if we paid her, it was as a percentage of the price we had agreed to anyway. We did not directly pay our realtor anything. We agreed to pay $105k for our house, and the prior owner paid their selling agent some percentage that the two realtors then split. So yes, Christie was paid with our money, but not by me. This time around, Christie collects 6% of our sale price. Quote Link to comment Share on other sites More sharing options...
bloodninja420 Posted September 2, 2015 Report Share Posted September 2, 2015 It is pretty much only good for looking up the area, when it was sold, for how much etc. The actual values are not really useful at the purchasing or selling level.You make this sound trivial, but accessing this type of information on a block-by-block level was basically impossible previously. You'd have to go through the county auditor or somehow gain access to the Realtors' MLS system.The one other major value-add of Zillow is that recent sales will have pictures available, so you can get a feel for the level of fit and finish, and adjust your comps accordingly. The algorithm they use to attach a market value to houses should be ignored, IMO, but the app is a game changer. Quote Link to comment Share on other sites More sharing options...
nautical1 Posted September 2, 2015 Report Share Posted September 2, 2015 Realtor.com will also show previously sold. When you find a house you like, go to the map view and see what houses around that neighborhood sold for. It'll even tell you how much over/under the asking price the house sold for as well. It also has whatever pictures were up for the listing.. Quote Link to comment Share on other sites More sharing options...
Tpoppa Posted September 2, 2015 Report Share Posted September 2, 2015 It's always been public information. There are multiple websites than make it easier to access. Quote Link to comment Share on other sites More sharing options...
NinjaDoc Posted September 15, 2015 Author Report Share Posted September 15, 2015 Offer in/ accepted/ now for inspection Thx for all the suggestion every one. Agent was awesome, went with low ball and bought the price down a lot. By myself like my bike deals I would have paid way more than needed. Ps: bike sold as well bike less for now Quote Link to comment Share on other sites More sharing options...
Tonik Posted September 15, 2015 Report Share Posted September 15, 2015 Glad you sold the bike, clearly you were not comfortable with it. You will find the right one. Quote Link to comment Share on other sites More sharing options...
Bad324 Posted September 15, 2015 Report Share Posted September 15, 2015 Congrats!!Get the vfr1200 next. Should be a happy medium between the ninja and the vfr800 Quote Link to comment Share on other sites More sharing options...
NinjaDoc Posted September 15, 2015 Author Report Share Posted September 15, 2015 Thank you. More than the bike it's my state of mind of new parenthood that's making me uncomfortable Prolly won't buy any bike for some time until I am really ready to ride Quote Link to comment Share on other sites More sharing options...
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