[Clifford]

AN,

Did you lease or buy ?
If you bought, what was the price before & after rebates ?
Also, how many kWhr do you use per month ?

[Clifford]

HLS,

How hard would it be for someone who has the following credit profile to get a mortgage (conventional, not jumbo):

– Had a mortgage 10 years ago (currently has no mortgage)
– FICO score ~700
– Has only 2 credit cards
– Has no debt
– %50 down payment

[Clifford]

[quote=Eve]Cliff (or others) on Bel Etage.

I guess I’m less concerned about what will happen in the future than what happened between 2006 and now. Is the Bel Etage traffic & noise level something that is a problem now, or that you fear will happen in the future with Del Sur growing, the proposed church and other construction?[/quote]

Buying a house is a long term investment. What will happen in the future (at least to me) is more important that what happened in the past. So, what you said baffled me.

[Clifford]

I’ve been considering Bel Etage & Ivy Gate, too (since my wife prefers newer 1-story houses that are 3,000+ sq ft). I’ll try to answer some of your questions & share with you what I know.

– Why is it hard to find larger single-store houses that are close to amenities ?

With high real estate prices, most middle class & upper middle class families want as much living spaces at the lowest prices as possible. Single-story houses have a larger foot print & cost more because land is expensive. Also, the modern busy lifestyles leave little time for gardening. This is why most of the houses built after 1990 that are 2000+ sq ft are 2-stories & have relatively small back yards.

Most middle class folks are happy to forgo gardening/privacy in exchange for more internal living spaces & close proximity to amenities.

3000+ sq ft single-level houses have become a luxury.

– Bel Etage vs. Ivy Gate

I first view homes in Bel Etage in 2006 & I liked them a lot. But the new developments that were built in that areas since 2006 concern me. Del Norte HS, Del Sur, new shoppping center … will increase the traffic & noise level. Bel Etage used to be a peaceful gated community. I doubt that I will stay that way for long.

When I viewed Ivy Gate in 2006, it was full of buyers who bought at the peak. Many of the owners were realtors whose incomes plummeted along with the real estate market. Some of the houses lack landscaping b/c the owners stretched to buy. Some other languished on the markets for a long time. Some were listed as rentals b/c the owners couldn’t sell them.

But Ivy Gate is not close to empty & buildable land like Bel Etage. Except for Oak Valley middle school that’s nearby, it’s still pretty quiet & peaceful,

In the long term, the “financially shaky owners” in Ivy Gate will make way for other owners who buy at lower prices through foreclosures/short sales.

Personally, I prefer Ivy Gate.

[Clifford]

kkun,

Did you specifically gave State Farm the address of this house & they gave you a quote at $250/month ?

Does what you said about insurance generally apply to houses that back up to open space ?

Thanks.

[Clifford]

[quote=recordsclerk]Flipped homes use flipped comps. The system just feeds itself. We did a flip back in 2009 when prices were going up and had offers way above what we thought the home would appraise for. The VA appraiser was able to use recently closed flipped comps and looked at the multiple offers (22 offers above list price). The VA appraiser was also able to factor in the mandated seller concessions.
I have talked to other flippers about getting the appraisal numbers needed to close. They prepare a list of work completed and hand it to the appraiser.[/quote]

What are “flipped comps” ? Are you saying that the appraisers look at the recent transactions and only use the flipped transactions to appraise a flipped house ?

What about a non-flipped house ? Do appraisers use “non-flipped transactions” ?

[Clifford]

[quote=recordsclerk]Flipped homes use flipped comps. The system just feeds itself. We did a flip back in 2009 when prices were going up and had offers way above what we thought the home would appraise for. The VA appraiser was able to use recently closed flipped comps and looked at the multiple offers (22 offers above list price). The VA appraiser was also able to factor in the mandated seller concessions.
I have talked to other flippers about getting the appraisal numbers needed to close. They prepare a list of work completed and hand it to the appraiser.[/quote]

What are “flipped comps” ? Are you saying that the appraisers look at the recent transactions and only use the flipped transactions to appraise a flipped house ?

What about a non-flipped house ? Do appraisers use “non-flipped transactions” ?

[Clifford]

[quote=recordsclerk]Flipped homes use flipped comps. The system just feeds itself. We did a flip back in 2009 when prices were going up and had offers way above what we thought the home would appraise for. The VA appraiser was able to use recently closed flipped comps and looked at the multiple offers (22 offers above list price). The VA appraiser was also able to factor in the mandated seller concessions.
I have talked to other flippers about getting the appraisal numbers needed to close. They prepare a list of work completed and hand it to the appraiser.[/quote]

What are “flipped comps” ? Are you saying that the appraisers look at the recent transactions and only use the flipped transactions to appraise a flipped house ?

What about a non-flipped house ? Do appraisers use “non-flipped transactions” ?

[Clifford]

[quote=recordsclerk]Flipped homes use flipped comps. The system just feeds itself. We did a flip back in 2009 when prices were going up and had offers way above what we thought the home would appraise for. The VA appraiser was able to use recently closed flipped comps and looked at the multiple offers (22 offers above list price). The VA appraiser was also able to factor in the mandated seller concessions.
I have talked to other flippers about getting the appraisal numbers needed to close. They prepare a list of work completed and hand it to the appraiser.[/quote]

What are “flipped comps” ? Are you saying that the appraisers look at the recent transactions and only use the flipped transactions to appraise a flipped house ?

What about a non-flipped house ? Do appraisers use “non-flipped transactions” ?

[Clifford]

[quote=recordsclerk]Flipped homes use flipped comps. The system just feeds itself. We did a flip back in 2009 when prices were going up and had offers way above what we thought the home would appraise for. The VA appraiser was able to use recently closed flipped comps and looked at the multiple offers (22 offers above list price). The VA appraiser was also able to factor in the mandated seller concessions.
I have talked to other flippers about getting the appraisal numbers needed to close. They prepare a list of work completed and hand it to the appraiser.[/quote]

What are “flipped comps” ? Are you saying that the appraisers look at the recent transactions and only use the flipped transactions to appraise a flipped house ?

What about a non-flipped house ? Do appraisers use “non-flipped transactions” ?

[Clifford]

[quote=recordsclerk]Probably got tired of being outbid for the more reasonably priced homes and went with an easy to close flipper property.[/quote]

recordsclerk,

why are flipper properties easier to close ?

[Clifford]

[quote=recordsclerk]Probably got tired of being outbid for the more reasonably priced homes and went with an easy to close flipper property.[/quote]

recordsclerk,

why are flipper properties easier to close ?

[Clifford]

[quote=recordsclerk]Probably got tired of being outbid for the more reasonably priced homes and went with an easy to close flipper property.[/quote]

recordsclerk,

why are flipper properties easier to close ?

[Clifford]

[quote=recordsclerk]Probably got tired of being outbid for the more reasonably priced homes and went with an easy to close flipper property.[/quote]

recordsclerk,

why are flipper properties easier to close ?

[Clifford]

[quote=recordsclerk]Probably got tired of being outbid for the more reasonably priced homes and went with an easy to close flipper property.[/quote]

recordsclerk,

why are flipper properties easier to close ?

[Author]

Posts