theonlyski 3 #1 July 6, 2013 So, looks like my rent is going up yet again in my apartment. Been toying with the idea of buying a home, any tips/tricks and things to do/avoid? Anyone now any good realtors in the Tampa area? Yes, this will be my home buying experience."I may be a dirty pirate hooker...but I'm not about to go stand on the corner." iluvtofly DPH -7, TDS 578, Muff 5153, SCR 14890 I'm an asshole, and I approve this message Quote Share this post Link to post Share on other sites
mx757 4 #2 July 6, 2013 don't buy a home in a home owner assc. they suck! Quote Share this post Link to post Share on other sites
oldwomanc6 38 #3 July 6, 2013 mx757 don't buy a home in a home owner assc. they suck! +100 if you want any control over your own property.lisa WSCR 594 FB 1023 CBDB 9 Quote Share this post Link to post Share on other sites
FlyingRhenquest 1 #4 July 6, 2013 Find an agent you like -- a friend of mine recommended mine and it worked out great. He set me up with a login on zillow.com and I found a bunch of houses in the town I was looking to buy in and the price range I was looking for. Once I had about 10 I was interested in, we went out and looked at them all. Don't be afraid to ask your agent anything. They go through this a few times a month and know all sorts of things to look out for. Most of the places I looked at didn't have an HOA, which wasn't a coincidence, and the house I decided on was in a neighborhood that doesn't have one. Other than that, I'd say as close to the DZ as possible. I'm 10 minutes from mine. I can roll my ass out of bed at 7:15, shower, get coffee on the way and still make an 8am early bird flight I'm trying to teach myself how to set things on fire with my mind. Hey... is it hot in here? Quote Share this post Link to post Share on other sites
theonlyski 3 #5 July 6, 2013 I unfortunately love the exact spot my apartments are in, short commute to work (less than 10 mins even with normal traffic) and 30 mins from 2 DZ's, an hour to another. Plenty of stuff around the neighborhood, so I want to stay in this area. Preferably with only right turns to get to the freeway too (that would be great). I qualify for a VA home loan (which will guarantee 400k+ but I have no thought in my head I should even try to come close to that), great credit and a good stable job. I figure now's as good time as any. I'm going to try to get back into contact with an old co-worker to see if I can't get her agents name... she LOVED that agent."I may be a dirty pirate hooker...but I'm not about to go stand on the corner." iluvtofly DPH -7, TDS 578, Muff 5153, SCR 14890 I'm an asshole, and I approve this message Quote Share this post Link to post Share on other sites
skymama 35 #6 July 6, 2013 Location, location, location. Look at a home as to what it can do for you, as in what is the investment potential of making you a wad a cash in a few years. Every house is just a house, you make them a home. Plan on staying in this house for at least 5 years to recoup your investment in closing costs. Since you're in FL, make sure your house has a termite inspection. Also, only buy a block house here, never a frame house (because of said termites). Look past any cosmetic changes you might need to do, like carpets and countertops, those are easy to fix. But, if you might need to replace the aging A/C or roof, those are major expenses. Also, a lot of older FL homes in areas that have no HOA's still have old styles of things like windows. You might think, "oh, that's an easy fix", but it's really not. You'll need a permit and the building codes changed after Hurricane Andrew so it's a lot more expensive to replace older windows, exterior doors and garage doors (just so you know). Mortgage rates are going up and the foreclosures are pretty much gone, so it's a Seller's market again. Investors are still buying the "good" properties pretty quickly which makes it even harder for a regular person to get a good deal. There's a program through Fannie Mae called http://www.homepath.com/ that's pretty good that lists homes for 15 days that are first only available to people who are actually going to move into the home, not investors. Check your zip code to see if there are any homes available. My whole family is in building/real estate, so let me know if we can help with any more questions. She is Da Man, and you better not mess with Da Man, because she will lay some keepdown on you faster than, well, really fast. ~Billvon Quote Share this post Link to post Share on other sites
Krip 2 #7 July 6, 2013 Hi TOS Asking for a good realtor is like asking for a good lawyer. I bought my first home 15 yrs ago. The only advice I can give is make sure there is a current property line survey. And it has corner hubs with the surveyors cap on them. Measure the distance from hub to hub to verify nothing has moved. I didn't do it , the disclosure form there was partial survey.Whats that a partial virgin. Some states require a survey prior to sale others don't. The realtor is basically a sales person they dont get paid unless they close the sale. Prior to sale everything is negotiable it might even SOP for the sellor to pay for the survey in Florida. After I bought the house got to know my neighbor better. I got a little concerned why the commen property line looked wrong. I measured the lines myself onr side was fifteen ft shorter than the other, someone had moved the corner post so my neigbor had a strip of my property 15ft x 165 ft.Had to hire a liscensed surveyor for aound $2k go to court.etc. The neighbor actually hired a lawyer etc etc. My survey trumped his lawyer I got my property back on my nickle, but I got a nice 6ft tall x 165ft cedar privacy fence that my neighbor payed for himself and of course he had to pay his lawyer. I don't want anyone elses property just, just whats mine no more no less. My neigbor is a upstanding member of the community, but he couldn't resist trying to steal my property so he could have a larger garden etc.that he never payed for. Property line disputes are very commen, and depending on the peeps your dealing with, have gotten people killed. for a piece of dirt. R Lines One Jump Wonder Quote Share this post Link to post Share on other sites
JohnMitchell 14 #8 July 6, 2013 Everything Skymama said. And I think legally YOUR agent still represents the seller legally. I'd say legally the only two people on your side are the inspection guy ( don't you dare skip a thorough inspection, including pests) and any lawyer you may hire. Figure everyone else is out to rob you.VA loans are great. Look until you find what you want, where you want it. Don't settle for less. A week or two of looking and you'll get a feel for the market. Quote Share this post Link to post Share on other sites
Nataly 38 #9 July 6, 2013 One former boss once told me "buying a house is a scary thing... Especially when you think that you typically spend more time picking your fruit in the supermarket than visiting a potential new home!!!" He's right... Some estate agents will want to rush you through 10 viewings in one morning, and although this is an "efficient" way for them to show you what's available, it's not a very good way for YOU to really consider all your options. Sometimes you will absolutely LOVE a place for little ridiculous reasons but sit on it for a while and see if the space/location/features actually suit you or was it just the stageing that made it look pretty. Remember that no matter how much pressure an agent will put on you with "other offers coming in," et cetera, even if you miss out on a place there are plenty of houses out there. I once fell madly in love with a beautiful house and other people out-bid us and I was crying about it for weeks until I found another place on the same road that was way cheaper because it needed a lick of paint... I was over the moon because it had the same potential as the other one and was within our budget If you end-up changing locations, visit the new place a bunch of times on different days (mornings during rush hour, afternoon, evening during rush hour, weekends, et cetera). Actually do your commute to work at least once, if you can. You would be surprised what you find out by doing this... Lots of kids (or no kids) in the neighbourhood (which can be a good or a bad thing depending on your personal situation), traffic jams, et cetera. I currently live in a very small village and I came here lots of times before I bought. I even talked to shop owners and neighbours... One guy let me view the place before I even talked to the estate agents because he had the keys to the place!!! (I have since changed the locks!) This told me volumes about the "community spirit" that existed and the situation the sellers were in (desperate for a quick sale due to changing tax laws on second homes). I NEVER would have had the balls to offer such a low price (all the while demonstrating I could guarantee a VERY quick deal) if I hadn't had all this information... Because I was that in love with the place and so worried I would lose it. But you know, experience had already taught me that if this one didn't pan out at a reasonable price, I would eventually find something else. And sure enough a few other GORGEOUS places here have gone up for sale since I bought that I would have been equally as excited about buying. Moral of the story: unless you have an unlimited budget, you will have to compromise on some of your wants... But the more you know about the market and about the house/sellers in particular, the better equipped you are to find the best compromise possible. "There is no problem so bad you can't make it worse." - Chris Hadfield « Sors le martinet et flagelle toi indigne contrôleuse de gestion. » - my boss Quote Share this post Link to post Share on other sites
Krip 2 #10 July 6, 2013 Hi moms What ever negative things I said about realatorsof course didn't include you and yours. Your a lot better than the average realator based on the way you conduct your self on dz.com.in a cool calm professional manner. Whats the situation in florida with the property survey. I know they vary from region to region. Some states require a fresh property survey every time the property is sold. Does Florida have any requirements for property surveys before closing, before making a offer or are the peeps in florida so good that they would never ever consider moving a property corner that had been located by the liscensed surveyor. How does a professional realtor know when you show a parcel where the property lines are located knew a local guy up here that overheard her telling the prospective buyer that the vacant piece of property that he owned came with the house she was attempting to sell. Of course it was just a innocent mistakeThe prospective buyers were so excited about that vacant lot that came with their new house if they could agree on a price they held a nice little picnic in the vacant lot. Until my friend a marine went to the happy picnic people and informed them that he was the legal owner they were trespassing and get off his property.I'm a cnn news freak, and like to see the way the instant media has to be readusted as more info comes in. From what I've read and I have know interest in buy or selling . That the banks have made a decision to stop foreclosing on properties because the excess unsold inventory would drive the prices down. I qualified for a VA home loan in 1970 but never used it, because at the time it appeared to me it actally raised the cost of the home due to the added costs the sellers could incur meeting the stringent requirement for VA loans. I'm going 40plus years back on a old fart memory but I think one of the major benifits of the VA loan was a lower down payment, which was offset by the required additional loan default insurance that was paid by the buyer. Im sure this isn't 100% correct but when or if you ever get caught up can you correct my errors. It might help out some of the peeps looking to buy a house in the lovely sun shine state. Don't worry I not interested in leaving the PNW where the sun never shines and it rains every day. After a couple of yrs of hard work,I may have finally got my neighbor's trained to leave their neighbors alone. Do you have any info what happens when a sellor finds out that the latest survey filed with county shows gross encroachment onto their neighbors property. Will the buyer be able to get title insurance without having a new survey. If this info isn't readily available please don't waste your time diggimbb Be well and never forget don't worry be happy00 ? Quote Share this post Link to post Share on other sites
skybytch 259 #11 July 6, 2013 Good luck! The process is frustrating as hell, but well worth it in the end. Agent recommendation - we kept our business in the skydiving community. Ended up falling in love with a house that our agent was flipping, so we didn't have to deal with cash buyers beating us out like they did on the first place we put an offer on. We would not have found this place if we had used anybody else. Ask around at the dz - someone out there just may be ready to sell the place you are looking for. Quote Share this post Link to post Share on other sites
FlyingRhenquest 1 #12 July 6, 2013 My guy wasn't very high-pressure at all. He was very up-front that he and the seller's agent both got paid from the seller's commission and he didn't have any particular incentive to get me into any particular place. He was attentive to my needs and didn't put any pressure on me at all. He actually didn't expect me to buy any particular house I was looking at, spotted the ones that were being sold by flippers and noted that the main advantage if I was interested in one of those would be the new appliances. He thought we might have to go through several rounds of going around and looking at places before I'd find something suitable. We looked at several OK properties and one that blew me away. I moved on the one that blew me away it all went off flawlessly. The inspection noted several electrical sockets with the wrong polarity and marginally higher quantities of radon than I would have preferred. I took those back to the seller and had them fixed (Including the installation of a radon mitigation system) as conditions of my offer. We looked at a lot of atrocious houses too -- a lot of people don't seem to be particularly interested in selling their houses. From the one that smelled of mothballs so strongly that I speculated there must be a dead body buried in the basement (My guy said that's not a strong "buy" signal right there) to the foreclosure property that had all of its appliances ripped out and smelled like mold. I might have actually considered that one at about half the price they were asking for it. That one also had what appeared to be a torture room down stairs -- a lockable-from-the-outside door with a glass window in it. So be prepared to not be impressed by a lot of properties when you start looking.I'm trying to teach myself how to set things on fire with my mind. Hey... is it hot in here? Quote Share this post Link to post Share on other sites
jimmytavino 16 #13 July 6, 2013 .... at the point when you HAVE zeroed in, on the house of your choice... take a few extra minutes to Investigate........ ...your potentional "new neighbors " Next door, AND behind you...Gone are the days of having a place all out by itself.. with "no one around " for miles.... Better to know FIRST,,, if the folks who own right NEXT to you, are nice or NOT,,,, are pleasant, or are jerks...Are easy to get along with ,,,, or will become the "neighbors from Hell "... Not being able to ENJOY your wonderful new back yard, because of uncontrolled pets,,, or even KIDS,,, "from next door".... or because of surly individuals who could be messy, or loud or just plain anti-social....Loction Location Location DOES matter,, as pointed out ( thanx skymama ) especially when you could be located next to the WRONG people.. It can't hurt to knock on a door or two... Do NOT ask about whoever answers the door. But rather ask THEIR opinions of the OTHERS in the neighborhood, and then go to a different house to ask about those whom you just LEFT,,,good luck jmy Quote Share this post Link to post Share on other sites
skymama 35 #14 July 6, 2013 Quote And I think legally YOUR agent still represents the seller legally. Actually, that's not true in FL. Agents can either be a Transaction Broker or a Single Agent for either the Buyer or Seller. The relationship has to be disclosed and there's a form to sign stating you understand which type of relationship you're in. http://www.leg.state.fl.us/Statutes/index.cfm?App_mode=Display_Statute&Search_String=&URL=0400-0499/0475/Sections/0475.278.html I have to renew my RE license and take a test by September 1st, so I have to know all this shit. She is Da Man, and you better not mess with Da Man, because she will lay some keepdown on you faster than, well, really fast. ~Billvon Quote Share this post Link to post Share on other sites
ryoder 1,384 #15 July 6, 2013 JohnMitchellI'd say legally the only two people on your side are the inspection guy ( don't you dare skip a thorough inspection, including pests) and any lawyer you may hire. A caveat on the inspectors: I once saw an investigative report on home inspectors which pointed out that the inspector chosen is usually referred by the realtor. And an inspector who frequently finds things that throw a wrench in the sale, will find himself being referred less often. The investigation found some inspectors who were pretty much just approving everything they inspected, in order to get more future business. On my first home purchase in CO, the inspector found a cracked furnace which postponed the sale until the owner had a *new* furnace installed. I made a point to use that inspector again on my next home purchase."There are only three things of value: younger women, faster airplanes, and bigger crocodiles" - Arthur Jones. Quote Share this post Link to post Share on other sites
theonlyski 3 #16 July 6, 2013 Thanks for all the help so far guys. I fully intend on getting at least a good inspector (have a few people that I can get recommendations from) to go over everything with a fine tooth comb. My bank actually offers a referral service for agents, so I may go that route. I've heard nothing but good things from the other people that have used it. Even when they don't like the agent, they call the bank, tell them that and are assigned a new agent. Looking at loan calculators, it's actually sad, I'm paying more for rent now than I would be paying on a mortgage with no down payment on a $150k house. Though my thought is to try to get that payment down to around what Uncle Sam gives me every month. If stuff hits the fan and I need to start whoring myself out for money again, it would be nice to know that most if not all of my mortgage payment is already taken care of every month. I'm also inclined to believe that many people in this area are smoking crack when it comes to pricing their homes... they could at least TRY to make the place look good for that much cash! "I may be a dirty pirate hooker...but I'm not about to go stand on the corner." iluvtofly DPH -7, TDS 578, Muff 5153, SCR 14890 I'm an asshole, and I approve this message Quote Share this post Link to post Share on other sites
JohnMitchell 14 #17 July 6, 2013 skymama Actually, that's not true in FL. Agents can either be a Transaction Broker or a Single Agent for either the Buyer or Seller. The relationship has to be disclosed and there's a form to sign stating you understand which type of relationship you're in. I have to renew my RE license and take a test by September 1st, so I have to know all this shit. Ahh, thanks for the info. Yes, it does vary from state to state. If my daughter and son-in-law in FL start house hunting I'm going to have them talk to you. Quote Share this post Link to post Share on other sites
JohnMitchell 14 #18 July 6, 2013 ryoder A caveat on the inspectors: I once saw an investigative report on home inspectors which pointed out that the inspector chosen is usually referred by the realtor. And an inspector who frequently finds things that throw a wrench in the sale, will find himself being referred less often. The investigation found some inspectors who were pretty much just approving everything they inspected, in order to get more future business. It's easy to see how that natural selection could take place. Anyone ever sue a home inspector for missing important faults in properties? Quote Share this post Link to post Share on other sites
Bertt 0 #19 July 6, 2013 Just to emphasize the good advice already given: If you want a bargain, don't look for a house with a problem, look for a seller with a problem. Don't just look at the house. Look at the area around it. Imagine driving out of or into the neighborhood during rush hour. Imagine that you need to go to the store late at night. An inconvenient neighborhood can ruin a great house. My advice is don't get an adjustable rate mortgage, but you might get different opinions on that.You don't have to outrun the bear. Quote Share this post Link to post Share on other sites
TriGirl 268 #20 July 7, 2013 Bertt My advice is don't get an adjustable rate mortgage, but you might get different opinions on that. He's getting a VA loan, which means he can finance up to 110% of the purchase price, get some money back, fixed interest with no PMI. He's going to pay ~ 1/4 point more on the overall interest rate, but lots of bennies come with that situation -- especially not worrying about a down payment, no 80/20, etc.See the upside, and always wear your parachute! -- Christopher Titus Shut Up & Jump! Quote Share this post Link to post Share on other sites
TriGirl 268 #21 July 7, 2013 Hey, Ski! Regarding your original question/request: I'll email you the contact info of my agent. I found her on Realtor.com (random search, called three of the agents I selected and she was the most responsive). I called her the day before I was flying to Tampa at the last minute and gave her the listing numbers of the properties I had found on my own. She was ready to go the next morning, with a few additional selections she had found. We finished pretty late on Day 1, but she went home that evening to do a bit more research. I contracted on the house I now own the next day and flew back to California that afternoon. She then followed up for about a year, trying to be sure the neighborhood was all that we expected, kept up on the financial issues the developer eventually faced, etc. I even called her a few times for the next couple of years to compare other properties, which she did without hesitation. Really quality work. theonlyski Looking at loan calculators, it's actually sad, I'm paying more for rent now than I would be paying on a mortgage with no down payment on a $150k house. I wish I could get my sister to understand this!!! She's still taking care of my house while I'm gone, but she knows she has to move out by the time I get back. She says she wants to consider buying (which is a step up), but if she doesn't move on something soon, interest rates and prices will climb. Besides the monthly bills, at least for now mortgage interest is still a tax deduction. Just wait until you do your 2013 taxes! The only other recommendation I have: go with the 30-year loan. (Alright everyone, just hear me out!) You'll hear that it's better to pay it off in 15 or 20 years. Yes, that is definitely true. However, adding a couple of hundred dollars per payment on your own will do that, too (check your statement to see how much of your payment is going to principle, and pay at least that amount extra when you can). And, if there are times when you really need to make that lower house payment, it's nice to have the option of the lower required amount. Additionally, if you even decide to move and want to rent it out, you don't have to worry about NEEDING to collect that higher rent. If the rent covers the bills, great. If it covers the bills and allows you to put some away for needed repairs, even better. Plus, you will be in a better position to cover the mortgage out-of-pocket when you can't rent it out. Just my two cents and two points on that issue. Can't wait for the house warming party!! See the upside, and always wear your parachute! -- Christopher Titus Shut Up & Jump! Quote Share this post Link to post Share on other sites
popsjumper 2 #22 July 7, 2013 TriGirl Can't wait for the house warming party!! Oh yeah...that's a good-to-go! It's in the contract or something. My reality and yours are quite different. I think we're all Bozos on this bus. Falcon5232, SCS8170, SCSA353, POPS9398, DS239 Quote Share this post Link to post Share on other sites
jtval 0 #23 July 7, 2013 theonlyskiI unfortunately love the exact spot my apartments are in, short commute to work (less than 10 mins even with normal traffic) and 30 mins from 2 DZ's, an hour to another. Plenty of stuff around the neighborhood, so I want to stay in this area. Preferably with only right turns to get to the freeway too (that would be great). I qualify for a VA home loan (which will guarantee 400k+ but I have no thought in my head I should even try to come close to that), great credit and a good stable job. I figure now's as good time as any. I'm going to try to get back into contact with an old co-worker to see if I can't get her agents name... she LOVED that agent. Talk to USAA they have a list of RE agents. they'll give you the best rates/feesMy photos My Videos Quote Share this post Link to post Share on other sites
theonlyski 3 #24 July 7, 2013 jtvalTalk to USAA they have a list of RE agents. they'll give you the best rates/fees Actually already talked to them about it, they've pre-approved me for a decent amount (I went high) and I should be hearing from their local reps tomorrow/Tues. I'm looking forward to it! Thanks everyone!"I may be a dirty pirate hooker...but I'm not about to go stand on the corner." iluvtofly DPH -7, TDS 578, Muff 5153, SCR 14890 I'm an asshole, and I approve this message Quote Share this post Link to post Share on other sites
popsjumper 2 #25 July 8, 2013 Ok...all this talk and nobody yet has mentioned anything about the REAL costs of owning a home... -Rakes -Wheelbarrow -Shovels -Lawn mower -Furniture -etc...... My reality and yours are quite different. I think we're all Bozos on this bus. Falcon5232, SCS8170, SCSA353, POPS9398, DS239 Quote Share this post Link to post Share on other sites
