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The House Searching / Buying/ Building Thread

lightningbolt44 said:
Started searching this past weekend. Wife and I are still trying to decide if we want to be close to everything and have next to no land or to go a bit farther out and have an acre or so. Not really looking to go any larger in lot size due to time restrictions when it comes to the care of the yard.

It is funny before we started looking I thought the hardest part would be to choose cabinet color etc. Once we got serious I realized how much more the other things matter.
We owned a smaller home when we lived in NY but really we just got what we could afford at the time not what we truly wanted.
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Where are you guys looking? We're kind of starting to look around too and I think we're headed towards Apex/HS. Live up in north Raleigh now (Lynn/Glenwood).
 
Matt E. said:
Where are you guys looking? We're kind of starting to look around too and I think we're headed towards Apex/HS. Live up in north Raleigh now (Lynn/Glenwood).
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We are looking up in the wake forest area. Also looking a bit in the edges of youngsville, Rolesville etc. Wife works in wake forest so we are trying to keep her commute short. We currently live in Wakefield so that is also part of the search however I don't think we can find what we need in Wakefield.
 
lightningbolt44 said:
We are looking up in the wake forest area. Also looking a bit in the edges of youngsville, Rolesville etc. Wife works in wake forest so we are trying to keep her commute short. We currently live in Wakefield so that is also part of the search however I don't think we can find what we need in Wakefield.
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Ah cool. Went to high school up in WF, amazing how much it's grown since then.
 
I am considering buying a vacation home in Pinehurst, NC.
Very much in the early pondering stage, but one thing I am looking at is two v three br.
Reason is this - I can rent it out when I am not there. I want it to be on the Pinehurst property so I can get a membership.
Question to the forum is this - Is it easier to rent a 3 br place or 2 br place at a golf resort? What would your preference be if you were renting for a week or two?
Thanks.
 
Spivey said:
I am considering buying a vacation home in Pinehurst, NC.
Very much in the early pondering stage, but one thing I am looking at is two v three br.
Reason is this - I can rent it out when I am not there. I want it to be on the Pinehurst property so I can get a membership.
Question to the forum is this - Is it easier to rent a 3 br place or 2 br place at a golf resort? What would your preference be if you were renting for a week or two?
Thanks.
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The negative with a 2br is if your target us foursomes you are looking at two beds in both rooms. That may be a negative when you are using it yourself. With a 3br you have a few options but will also be paying a good bit more
 
lightningbolt44 said:
The negative with a 2br is if your target us foursomes you are looking at two beds in both rooms. That may be a negative when you are using it yourself. With a 3br you have a few options but will also be paying a good bit more
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I figured as much.
Would a 4br townhome be a better option if I wanted to be more attractive for rental? I hadn't really considered the increase in size from 3 to 4, but it does make sense.
 
Pinehurst is an awesome place for golf.
 
Hey fellas, I just found out about this thread. I wanted to let everyone know that I have been in the home lending business since 1999. I only do home loans in Missouri, but I am always more than happy to answer any questions or give advice to any members here that might be looking at buying or financing a home. Please feel free to PM me or post a question in this thread as I will be following this topic. I also specialize in helping people with their credit as well, so if you need help in that area, please do not hesitate to ask.

Eric
 
perfect thread for a quick vent.... We are buying a short sale and selling our home, concurrently. Both deals are in the final stages...but we have heard nothing for the last two weeks. Brutal!

Our current house is through appraisal.
We are waiting for the second lender on the short sale to approve it.
Two weeks with no movement seems like forever!
Thank you all!
 
LordByron said:
perfect thread for a quick vent.... We are buying a short sale and selling our home, concurrently. Both deals are in the final stages...but we have heard nothing for the last two weeks. Brutal!

Our current house is through appraisal.
We are waiting for the second lender on the short sale to approve it.
Two weeks with no movement seems like forever!
Thank you all!
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Short sales can be tough, because the Banks will move slowly, then tell you, oh you have to close in 2 weeks or lose it
 
jhstew1 said:
Short sales can be tough, because the Banks will move slowly, then tell you, oh you have to close in 2 weeks or lose it
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Yes, we knew what we were getting into. It is still hard to wait! Actually very lucky because of how well the timing is worked out.
 
LordByron said:
Yes, we knew what we were getting into. It is still hard to wait! Actually very lucky because of how well the timing is worked out.
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waiting def stinks when you hear nothing, but in the end its all worth it
 
jhstew1 said:
waiting def stinks when you hear nothing, but in the end its all worth it
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Yep, we are getting the size and neighborhood combo that likely would not be possible without the short sale component. Hopefully it all pans out.
 
LordByron said:
perfect thread for a quick vent.... We are buying a short sale and selling our home, concurrently. Both deals are in the final stages...but we have heard nothing for the last two weeks. Brutal!

Our current house is through appraisal.
We are waiting for the second lender on the short sale to approve it.
Two weeks with no movement seems like forever!
Thank you all!
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Was the short sale approved before you started your financing? Typically, your lender won't start anything until they've seen an approval letter from both lenders so you'd think they wouldn't have moved till they received that letter.

When in doubt, you can always get an extension on both the sale of your home as well as the purchase of the new purchase. It is a pain in the neck, but it can be done
 
Mward said:
Was the short sale approved before you started your financing? Typically, your lender won't start anything until they've seen an approval letter from both lenders so you'd think they wouldn't have moved till they received that letter.

When in doubt, you can always get an extension on both the sale of your home as well as the purchase of the new purchase. It is a pain in the neck, but it can be done
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I was wondering about that but I think deals in Florida are done a bit differently due to the large number of Short Sales we have down here compared to other parts of the country
 
Mward said:
Was the short sale approved before you started your financing? Typically, your lender won't start anything until they've seen an approval letter from both lenders so you'd think they wouldn't have moved till they received that letter.

When in doubt, you can always get an extension on both the sale of your home as well as the purchase of the new purchase. It is a pain in the neck, but it can be done
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That is what we are waiting on, approval of the short from the holder of the 2nd mortgage.

We negotiated flexible closing into the sale of our home... Fingers crossed the timing works!

Thanks for the words of wisdom and advise!
 
jhstew1 said:
I was wondering about that but I think deals in Florida are done a bit differently due to the large number of Short Sales we have down here compared to other parts of the country
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I guess that's possible but you'd think a lender no matter where they're located would want to avoid any rate lock and/or appraisal expiration issues by doing all of that before they knew they had an approval. Heck, you want to make sure they don't counter the offer at that!
 
LordByron said:
That is what we are waiting on, approval of the short from the holder of the 2nd mortgage.

We negotiated flexible closing into the sale of our home... Fingers crossed the timing works!

Thanks for the words of wisdom and advise!
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Typically, second mortgage companies are up the creek without a paddle. It's very common to see them only receive about 3,000 from the sale. They can piss and moan asking for more but that's usually all they get since they're the smaller debt. If they're making noise about wanting more, that might be something you want to keep in mind.

For my CYA purposes, that is of course completely unofficial and in no way, shape, or form a guaranteed number or meant to be advice towards anything in the transaction :)
 
The lady next store piss my wife off again today looks like i might be looking again sooner than later
 
Sometimes I have to laugh at other real estate agents and their lack of thinking skills. This particular MLS photo has me rather amused this afternoon. "Enjoy beautiful views of Tampa Bay right from your balcony!" Uhh... Maybe.. Not?
Why.jpg
 
Mward said:
Sometimes I have to laugh at other real estate agents and their lack of thinking skills. This particular MLS photo has me rather amused this afternoon. "Enjoy beautiful views of Tampa Bay right from your balcony!" Uhh... Maybe.. Not?
Why.jpg
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wow that is a good view
 
Just seems like maybe they should have picked a better day to film? I mean it's a pretty cool photo but not one I'd really advertise all that much.
 
Maybe they're hoping to get the coveted storm chaser crowd. Why chase, when you can watch from the comfort of home?
 
Mward said:
Sometimes I have to laugh at other real estate agents and their lack of thinking skills. This particular MLS photo has me rather amused this afternoon. "Enjoy beautiful views of Tampa Bay right from your balcony!" Uhh... Maybe.. Not?
Why.jpg
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I'll never understand why agents out the photos up that they do. In today's age with so many buyers looking online, photos are HUGE! Then you see agents post pictures with lights off, clothes on floor and from terrible angles. Professional photos only for us.

Saw one yesterday that had a lady in a wheelchair riding down the road in the front shot.
 
"Quiet neighbors" Wake
 
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