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 Posted: Mon Mar 10th, 2008 05:31 pm
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Kid_Naitch



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Mana: 
No specific one particularly, but I'm in the market. Got any tips? hints? horror stories?

I'll toss in that this is my first place, moving out of the ol' apt.

Last edited on Mon Mar 10th, 2008 05:31 pm by Kid_Naitch



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 Posted: Mon Mar 10th, 2008 05:48 pm
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srossi
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Well it's a good time to buy.  What's the range that they're going for in Iowa City?  I imagine pretty cheap.  You have them over a barrel, not a lot of people lined up to buy, so negotiate hard.



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 Posted: Mon Mar 10th, 2008 05:56 pm
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HBF



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Find the best home inspector in the area and that is who you hire to inspect the house.  It's well worth it.

 



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 Posted: Mon Mar 10th, 2008 05:57 pm
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Kid_Naitch



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srossi wrote: Well it's a good time to buy.  What's the range that they're going for in Iowa City?  I imagine pretty cheap.  You have them over a barrel, not a lot of people lined up to buy, so negotiate hard.

Actually I'm moving to Cedar Rapids, IA which is about 25 miles north of IC. That's where I work and I've been commuting the last two years. The market in CR isn't in the tank, surprisingly, and there are acutally fewer homes on the market than at this time last year 'cause it seems people are staying put (i.e. not moving up to more house than they need). The range in CR is all over, from 50K hell holes to 500K landed estates (lot of house for not a lot of money by NE US standards). I'm in the mid 100Ks range, which will buy a pretty nice place.



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 Posted: Mon Mar 10th, 2008 06:08 pm
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srossi
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I always get jealous when I hear these prices outside of NY.  If I lived somewhere ekse I could slap down cash for a nice pay.  Here, I'd be paying off a mortgage forever to get something comparable.  Even for a hell hole, 50k for a house boggles my mind.  Hell, 100k for a house boggles my mind.

But yeah, supply will be lower because it's a bad time to sell so people will wait.  But some people can't, they NEED to sell now and those are the people you have to target.  That's where the good deals are.  So many people were living above their means, thinking they were building equity in something and they'd be able to sell for huge profits on top of that, and now they can't afford the mortgage and their houses are worth 30% less than what they paid for it.

Last edited on Mon Mar 10th, 2008 06:12 pm by srossi



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 Posted: Tue Mar 11th, 2008 01:41 am
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Principal_Raditch



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If you can afford it, put 20% down and avoid the PMI. Also, if you can afford it, do a 15yr vs a 30.

A couple of years back we had 26 yrs left on our 30 at 6.58% and our payment was @ 975/month. When rates dropped in 2003, we refied down to a 15 at 5% flat. Our payment only went up to 988, but we dropped 11 yrs off the mortgage.

Also do extra principal payments if possible.

Buy a 4br rather than a 3br. Easier to sell, as a lot of families would rather the 4bdr.

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 Posted: Tue Mar 11th, 2008 01:52 am
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Portalesman
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HBF wrote: Find the best home inspector in the area and that is who you hire to inspect the house.  It's well worth it.

 
That made me lol.  You have to pay the magical Sears and Robuck inspector a minimum of 300  bux.  You can request that the CITY INSPECTOR send somebody out on the state dole, for free.

If you cant tell that the walls havent been painted for 20 years or that the heating system is the same one from the 20s, check the breaker box.  If it doesnt appear to be installed in your lifetime, it needs to be changed.

Common sense, people.  Use it. 


The roof looks old or the roof looks new.  Still common sense.  The home inspector dude is a scam.  A gag. 

Theres millions of dudes that spent upwards of 3 figures to learn life lessons in college, yet still pay dope smokin construction worker  wash ups hundereds of dollars to drive by a house they wanna buy and give them some kinda magical consulation.  It legit makes me LOL.

Cretins.  The whole lot of ya.




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Sixk of Portalsman and he is a total fucking loser and mark for himself. A bore. Dude has never been laid in his life.

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 Posted: Tue Mar 11th, 2008 01:56 am
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Portalesman
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For what its worth, Ive personally applied for the home inspectors license in the state of NM.

Use your own common sense.  Old house=Old shit.

New house was inspected by the state or city and was built to code.  I hope that fancy college degree helped everybody.  Guessin srossi hired a house inspector before he bought his mansion. .  LOL.



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Sixk of Portalsman and he is a total fucking loser and mark for himself. A bore. Dude has never been laid in his life.

Total piece of garbage and a reason I have left wrestling forums. drdelaware
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 Posted: Tue Mar 11th, 2008 03:27 am
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HBF



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Ports, you're a contractor, which gives you a better knowledge level of shit that you take for granted that most people don't even think about.  Ducts, mold, water damage, soffets, electrical, etc....are all shit that most people don't know about in buying a first house. 
From personal experience, we almost bought an old lake cabin 2 years ago but after the inspector found structural shit wrong, I bagged the contract.  That was stuff that I couldn't find and I know more than a first-time homebuyer.  He also found stuff wrong with the electrical, which I would never have known.  A good one will know codes and if everything is up to them.



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 Posted: Tue Mar 11th, 2008 03:37 am
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Kid_Naitch



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I'll probably have a guy I know from work do the PCA, he does 'em on commercial properties for work and does residential on the side.



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 Posted: Tue Mar 11th, 2008 03:37 am
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Portalesman
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HBF wrote: Ports, you're a contractor, which gives you a better knowledge level of shit that you take for granted that most people don't even think about.  Ducts, mold, water damage, soffets, electrical, etc....are all shit that most people don't know about in buying a first house. 
From personal experience, we almost bought an old lake cabin 2 years ago but after the inspector found structural shit wrong, I bagged the contract.  That was stuff that I couldn't find and I know more than a first-time homebuyer.  He also found stuff wrong with the electrical, which I would never have known.  A good one will know codes and if everything is up to them.
Eh, if you buy the place, you'll have insurance.  If the place burns down, you'd make money.  Structural stuff is obvious.  If theres cracks on the outside, theres cracks in the foundation.  Water damage is another common sense thing.  If you see water damage, theres water damage.  All ducts will eventually get mold.  If the house is old, its ducts have ALOT of mold.  If the house is new, it has little mold.  If its not appreciated, have somebody re do the ducts.  Theres really no way around it.  Old bread gets mold, old ducts get mold.  Walls that have plumbing get mold eventually.  If you have a house with a basement and its old, it'll have mold in some form or fashion.  If you have a house with a concrete slab, the wet walls (walls concealing plumbing) and slab will eventually get mold.

Its an evil cycle.



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Sixk of Portalsman and he is a total fucking loser and mark for himself. A bore. Dude has never been laid in his life.

Total piece of garbage and a reason I have left wrestling forums. drdelaware
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 Posted: Tue Mar 11th, 2008 03:49 am
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HBF



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Shit, we just corrected a problem in our basement when the water main elbow coming into the house busted and leaked.  It was smelling like mildew and, fortunately got it corrected before it turned into mold.  Major pain in the ass though.



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 Posted: Tue Mar 11th, 2008 03:57 am
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Principal_Raditch



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Forget the house Naitch. Just go and buy a trailer.

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 Posted: Tue Mar 11th, 2008 04:00 am
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HBF



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Trailer wouldn't be complete without a few wife beater T's and a slew of kids (they don't all have to be sired by you either).



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 Posted: Tue Mar 11th, 2008 04:13 am
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Portalesman
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Yup.



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Sixk of Portalsman and he is a total fucking loser and mark for himself. A bore. Dude has never been laid in his life.

Total piece of garbage and a reason I have left wrestling forums. drdelaware
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