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Yeah this is us. We could sell in a heartbeat but then what? Pay triple for a smaller rental? Meh. I plan on building a house in a few years so it seems like that's enough time for lumber to go back down. Looks like everything is working out for ol steadymobbin and his crew.
If the buyer does not have an agent, I would do this for 4%, and get both sides and your save some $$.
Actually active duty Army.Astronauts chosen from MSFC are pretty rare. That guy/girl must be a stud.
I think you are reading into my posts more than is there for some reason.Truly have no issue with him at all. We’ve PM’d in the past on possible loans.
Or maybe I am not communicating what I am saying properly. I can pretty much say that I didn't expect that last response from my post as I was pretty chill when I wrote it. 
Maybe. It’s all good.I think you are reading into my posts more than is there for some reason.
I honestly don't know. I haven't been in Texas much and not for a long time too. I drove through it as a kid when we went from CA to FL and back (man.... that is a gaaaaaaaaawd awful lot of nothing for a looooooong time in that state), had a nightmare layover in Dallas where I was told that I was late for my connecting flight since my flight arrived a tad late and it was on the other side of the airport. I did a sprint with full on jukes of families, spins around old people, some of my moves would have made Barry Sanders blush (well, in my minds eye at least, in reality I am sure not so much) only to get to the gate and find out that flight was delayed.... but it gets better.... they changed the plane and gate. Guess where? THE FREAKING PLANE I HAD JUST GOT IN ON! On top of all that, I had the exact same freaking seat on the plane. Out of breath and sweating like I just got out of the pool, I had to go back and WAIT for the flight.... an then a couple of flights to El Paso to hop over into Juarez for missions work.
We used to drive from New Orleans to Albuquerque. I clocked it. Texas lasts forever.
So.... if you did not sign a sellers agreement then you are not legally obligated. If you are using your friend with questions/advice/help then you are (in my view) morally/ethically obligated to pay in some way but that doesn't have to be full %. I think you said you haven't put the pace up for sale. So, you technically could FSBO. I would say to the friend, here is the situation, I don't think 5.5% is fair in that you are doing paperwork and come to an agreement... the landmine here is the friend part as people can get salty about things and it is very emotional, so the friendship could sour easily.
As someone who has lived in Dallas and Chicago for a while now, I can't wait to be full-time in Dallas. 50 days to go.
Yea, I bought without a realtor for our first condo because I knew the guy selling it. Saved him a bunch and he gave us a better deal on it so we could both share in avoiding that cost.
Chicago, Cook County and Illinois governments should be declared disaster events and done away with. The state is messed up, the county is a mess and the issues of the city are overflowing into the surrounding areas. I honestly can not think of ONE person who WANTS to live here, from people I know personally or professionally. I obviously do not bring it up in conversations with clients doing loans in Illinois (Hey! Why are you buying here?! Just seems to be not a very good ice breaker to me) but it comes up in conversation often "I rather move out of Illinois but..." or "our plan is move away in a few years" or "when this happens, we will move" etc. And the crazy things is that all thing things people talk about why they don't like it here (besides weather).... they (government) are only doing more of or setting conditions for more of it happening.
My wife has been suggesting we do the same thing and that's been my same argument.
My other concern is we keep reading how far behind the new construction is, insane lumber prices, materials being incredibly hard to get your hands on, low inventory, increasing mortgage rates - When will it end? To me it doesn't sound like houses will ever be as cheap as they were just last year.
Didn't fact check it, but the local news said recently that a piece of plywood that cost $12 two years ago costs $50 now.
I don't know about ever. I mean, things happen that you never can see coming (back in 2019 who thought we would have a global pandemic that would shut the world down?) but the demand and supply is so slanted right now that it is hard to see how prices will come down. People keep thinking 2008 and this is NOTHING like 2008. That isn't to say the market isn't overheated and that they may be a correction in the not too distant future but a correction is NOT what 2008 was. That was a crash. I don't see how we have a crash ahead of us barring a massive economic meltdown (and special note on that, most recessions actually see property values increase).
or last month. I have a build job closing in two weeks. We were suppose to get C of O three weeks ago. Still don't have it. Luckily, clients bought first phase of this townhouse project back in Oct. Phases starting now are $50k higher for the same, exact plan.
Talking to builders/reno people there are three big things that are problems
Can't get consistent quality anymore and pricing is now putting it out of reach where everyone wants a giant island and a backsplash for their open concept. The rock bill can go north of 30k quick. Can get sile for half that, and it honestly now looks just as good and can be repaired and reconditioned cheaply among other advantages
The concrete stuff is high because they’re having trouble getting things like rebar and the ties.
Yeah I thought granite was going away because it’s out of style. Quarts and other synthetic materials are better anyway.
I just think the bar is going to get raised so high that the new low will still be incredibly high. I mean it’s not that crazy, my grandfather bought his house in 1968 for $30,000. My mother is about to sell it for 400,000. Real estate is always going to go up. That’s why so many people use it as an investment.
The house buyer right now is completely different than in 2006. See Figure 2 here. 2006 had a ton of low credit sub-prime loans, etc. Today's buyer has a massively better credit profile.Chadstroma said:
I hope not. We re-modeled our kitchen similar to this with Patagonia granite. Counters, island, desk, bath vanity for about $11k (2 pieces).culdeus said:
To be fair... it was an all time "you can't make this crap up" event in my life.culdeus said:
Inflation will have a big say on where the bottom sits.STEADYMOBBIN 22 said:
Gotcha. I didn't say it clearly. He charges us 5.5 in a regular deal, but said if the guy didn't yet have representation, it would be less if he represented both sides or however he stated it. He's a good guy I've known for many years and asked straight away after I told him about the other potential buyer if I still wanted him to be a part of the process if that happened.Chadstroma said:
I think that's for both. We sold our last home 2 years ago and I know was around 5 something total.
You come with buyer in hand and agreed to terms then 1% to push through the paperwork and keep things on track is more than fair.
Brother-in-law buys and flips houses in California and he said we didn't need a realtor or a lawyer. Said the Escrow people could write it up for a couple grand.
Real estate varies state to state. No escrow people here (NC), just lawyers, Realtors, and do-it-yourselfers. What happens in CA may not apply in TN. A lawyer will cost less than a couple of grand in TN.
Ok, that is in line with norm.
Dont need a realtor in this at all.
We’re in the exact same situation. Unfortunately the rental market is even worse here. We’re likely to try and leverage our situation but there’s a risk to it and I could have 200k in the bank but no place to live. People are getting out bid left and right around here.
I have weighed the options and being homeless with 400k in the bank seems like the wrong direction.
2 weeks on the ground in Houston post-Harvey for FEMA easily convinced me to never go back.
I don't know why this makes me laugh so much but it does. 
