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All Locations : Nationwide Real Estate Advice

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A moment ago
Raymond Mack answered:
Take it from an engineer at the other end of the career path. Don't do it. I know it is hard to swallow, but you either need to wait until you have more to put down or more income. The easiest solution is to stay in the middle of the range so you have wiggle room later. DO NOT count on getting nice big raises!

The engineering field isn't what it was 40 years ago (or even 15 years ago). Raises don't come as often as you would expect and aren't as big as you would like. You are very early in your career, so you should think seriously about whether you are going to stay long enough to make owning worthwhile. Chances are high that you will move from NYC to somewhere else in NY or maybe even all the way across the county within 3 to 5 years. The only way for an engineer to make career progress is to change companies! You *will* have to move or your career will stagnate.

This is your first home, so you have no idea what expenses in addition to your principal, interest, taxes, and insurance will be. The other unknown is what property taxes will do. The rest of your payment is fixed, but taxes can and will go up over time. DO NOT count on raises to cover the increases.

My first house was 47 years old when I bought. A very nice house that was close to the high end of what I could afford. In the first 5 years it needed new air conditioning and a water leak meant fixing plumbing and repairing the walls and ceiling. Insurance didn't cover because it was a leak and not a burst pipe. Then the roof needed replacing. All of those are very large expenses that you will have *no* budget for if you stretch that much.

My suggestion is to live as frugally as you can right now so that you can put down 20% on your first house. It means eating out less and saving every penny. It can be done, but it isn't fun while doing it. The reward at the end is *really* worth it though.
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A few minutes ago
Anthony Siebert asked:
BLUF: Realtor has done next to nothing, but give me a phone number my google searches could have provided, am I required to put them in the contract when/if I sign? I have signed zero paperwork…
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A few minutes ago
Alysse Musgrave answered:
In my area the title company orders the survey, not the Realtor. If there's an existing survey, the seller can share it with the next buyer. Talk to your agent and title company.

Buying a Home? Don't Let Them Make a Monkey Out of You! Follow the link below.


Alysse Musgrave
Consumer Advocate/
Exclusive Buyer Broker
http://HelpUBuyAmerica.com

Best selling author of Buying a Home: Don't Let Them Make a Monkey Out of You!
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A few minutes ago
Alysse Musgrave answered:
A broker can be a principal to a transaction if it is disclosed up front. If you need an Exclusive Buyer's Agent in Allen let me know. I know the area well.

Buying a Home? Don't Let Them Make a Monkey Out of You! Follow the link below.


Alysse Musgrave
Consumer Advocate/
Exclusive Buyer Broker
http://HelpUBuyAmerica.com

Best selling author of Buying a Home: Don't Let Them Make a Monkey Out of You!
... more
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A few minutes ago
Alysse Musgrave answered:
Rent to own is a horrible, horrible idea for the buyer. Don't bother. Wait until you can qualify for a traditional mortgage before you try to buy a home. I wrote a best seller on the topic...you can read it free on Amazon prime. Follow the link below.

Buying a Home? Don't Let Them Make a Monkey Out of You! Follow the link below.


Alysse Musgrave
Consumer Advocate/
Exclusive Buyer Broker
http://HelpUBuyAmerica.com

Best selling author of Buying a Home: Don't Let Them Make a Monkey Out of You!
... more
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A few minutes ago
tigerlilyfeller asked:
A few minutes ago
Donald.h.nagel answered:
Can you please delete my posting on your web site my email is donald.h.nagel@cox.net,
the home has been rented.
Thanks Don Nagel
0 votes 8 answers Share Flag
A few minutes ago
Deanabar1023 asked:
A few hours ago
Carlene S Gauler answered:
If you work with one agent for all and she/he wrote the contract, then a dealine date should have been written in the contract. It should tell the seller the # of days they have to accept. If you give them 3 days and they have not returned with a ratified contract signed, or asked for an extension of ____ days more, then the contract offer expires. The agent has a short time after the sellers accept/signed before she must present it to you. At that time the brokerage can deposit the escrow. Not until then.
If not accepted, then the agent can give you back your escrow check. This is our law in SC for all agents.
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A few hours ago
randysharley asked:
Ten months ago I purchased a 1965 ranch home with the help of a realtor in north Dallas, Texas. There was a Seller's Disclosure provided and the seller did not disclose a crack in the…
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A few hours ago
Vision397 asked:
A few hours ago
Robert Eanell answered:
Well I think you are about 3 years to late in entering this market space and you may find it difficult to find foreclosure properties at this time. You will be competing against a large number of investors all competing for fewer and fewer properties. In all of Pinellas County, with a population of about 1 million people there are a total of 83 REO/Bank Owned properties available. Most of these homes sell for above asking...but not all. The one's that stay on the market usually are not worth purchasing because of the expense of renovating relative to what the property can then sell for. Most agents will not work in this market space with investors any longer because the competition is so intense for these properties. ... more
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A few hours ago
Sheryl Arndt answered:
Hello Millsjohn1969, you need to speak with a free legal advice service. We have the Inland Mediation Board that is a free legal advice service for tenant and landlord disputes. You will most likely have to evict her but she will have a judgement on her credit until she pays you thru the courts to remove it. Good luck and keep us posted to what the services you find say and the outcome.

Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
Veteran and VA/CalVet Loan Specialist
Credit Repair Advice At No Cost
ALL Loan Programs Available
24+ Years Experience
BRE# 01140252
NMLS# 297251
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A few hours ago
Chicperry49 answered:
We have owned 4 homes with hardwood flooring in main areas, living room,family room, kitchen, bath and bedroom and wouldn't have it any other way.There is no comparison between carpet and hardwood. Hardwood wins hands down! With the proper finish,polyurethane there is NO WAXING PERIOD! Simple vacuuming keeps the floor looking beautiful. A home with hardwood flooring most certainly adds value much much more than mere carpeting...... ... more
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