For all of you guys who are homeowners or newly owned

[23]

What did you buy that was that cheap?

I watch diy network all the time. The remodel jobs all look nice but I respect the carpenters work so much more

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[23]

Re: For all of you guys who are homeowners or newly owned

Process slowly moving along guys

Got approved for a really cool amount, but wont use all of that of course

I've run across alot of funky things so far though with people out there...

[23]

Re: For all of you guys who are homeowners or newly owned

Man so my broker that was reccommended was not as hands on as the wife liked

She showed us a few listings in the beginning after the pre approval process and what I'd do is shoot her over a few here or there.... for the most part there wasn't much follow up

What I mean is she wasnt looking very much, gave me a site to look myself but that was it. Mind you we started this in November and the holidays and whatnot were around so there were times where I'd get email responses like "I will check when im in the office"... which might've been a couple of days later or so

Other than that, no proactive listings were sent to me so im pretty sure that pre approval has expired... no call, no email, no urgency.. and the wife was no happy

She emailed the agent 2 Friday's ago, and the lady just sent a follow up email on today... needless to say its too late because the wife had decided she didn't feel the love and that the agent wasn't doing the kind of work she was really looking for.

Mind you the lady is very sweet and probably very busy, but there are things that were brought up that the Mrs didn't like... such as

Ok, she's not even emailing saying hey im busy but I haven't forgotten about you guys, or you know... if she's not talking to us much now, what about all the time sensitive things, and escrow and so forth... so the more I thought about it the more I was inching away from her

I picked a lady I knew from some time ago, old friend that does real estate just to get her views on some home stuff, and she proactively without trying to work for us just started sending me stuff and looking around for me and telling me things so we just went with her and she is hyper excited and looking all the time, came by gave us sample mortgage papers and showed us more listings, then took us to a place after we were done

In the process, I've been approved through my credit union for a much lower rate.. in the 3% range and up to 500k... which no im not going to max out


Lots more but thats a small update... how do I tell the other agent we aint using her though.. .I never answered her email

[bigeastbumrush]

Re: For all of you guys who are homeowners or newly owned

If she contacts you by phone...politely tell her that her services are no longer needed in this part of your process.

Definitely don't feel obligated to be tied to a broker. Clearly her commission from another one of her clients is more valuable than yours.

In this kind of real estate market...there are plenty of brokers out there that would love giving you all the time you need.

[C the Lyte]

Re: For all of you guys who are homeowners or newly owned

Isn't the real estate market still pretty shaky?

Especially in Cali?

How busy could that woman possibly be that she could not contact you with in 2 weeks? I agree, go with some one else.

[23]

Re: For all of you guys who are homeowners or newly owned

I did go with someone else

Just sent the reply email a couple of minutes ago, and I have no idea what she was doing so thats too bad

..and yeah I had as it seems more willing people asking hey do you need a broker who didnt even know if i was serious enough to look or not, just from inquiry

So at the most I will have to pay for that credit report, but I considered that one washing my hands of her work

[ScoobySnax]

Re: For all of you guys who are homeowners or newly owned

Question fellas:

Has anyone tried an adjustable rate mortgage over a fixed? If so, did the interest rate go way up after the fixed portion of the loan ended? Considering everything right now.

[23]

Re: For all of you guys who are homeowners or newly owned

Good question man

Also, now im dealing with an REO (Bank Owned property being sold)... and the selling bank wants to do a cross approval meaning they want you to bring your bank approval and run your credit again to be approved by them also

What the heck?

[Jonesy]

Re: For all of you guys who are homeowners or newly owned

With interest rates being so low there in the US I was wondering how low a percentage you could get at the moment for a fixed rate loan?

[23]

Re: For all of you guys who are homeowners or newly owned

Lowest I think is around 3.2 something like that

I got a 3.8 myself

[Jonesy]

Re: For all of you guys who are homeowners or newly owned

Damn that would be very tempting. Our variable rate is way higher than that.

[23]

Re: For all of you guys who are homeowners or newly owned

Yep thats what it is right now Jonesy

Thats why this couldnt be a better time for us

The process is crazy though

[Jonesy]

Re: For all of you guys who are homeowners or newly owned

Yeah I can see why you guys are getting into the home ownership market, would be an awesome time to jump in by the looks of it though I imagine banks are WAY more cautious when it comes to lending now than what they were prior to this crash.

How much would you guys pay for an average 3 or 4 bedroom house at the moment?

[youvalss]

Re: For all of you guys who are homeowners or newly owned

How much would you guys pay for an average 3 or 4 bedroom house at the moment?

I'm not sure there is an average 3-4 BR house. There can be an average house in a certain area/neighbourhood or something like that. Maybe you should define what area you're asking about. Even in a small city like mine, there can be even $150,000 difference between some of the better areas to the not so great ones.

[Jonesy]

Re: For all of you guys who are homeowners or newly owned

Yeah sorry it was a bit vague. I just did a bit of search and it appears the average house price in the US is $199k.

http://www.mortgageorb.com/e107_plugins/content/content.php?content.10847

fwiw the average house price in Australia is 459k and our dollar is pretty much equal to yours.