All Forum Posts by: Account Closed

@Wes Barnes I would rather spend the money on a good agent and possibly even a photographer than let my house sit on the market for over 6 months, in your case, a year. The marketing time on that is way too long (unless that's normal in texas??) Also it tells me that its overpriced. Buyers look at how long things have been on the market too and assume there's either something wrong with it or its over priced.

@Isamel Jean you sure can. Most people have to pay rent/mortgage if they're living on their own so a couple hundred books to cover a house hack is similar to paying reduced rent (assuming rent is more expensive in the area than what you're covering out of pocket) so you're saving right there. Plus, you will be gaining equity. Also, when you do move out, you will now be able to rent your unit and again, assuming the numbers are right, you would be making money from the rent now.

@Fili Aguirre yes, Zillow estimates are not to be trusted. Also, I've had houses where its estimate is very low and as soon as i list at market value, zillow eventually catches up and changes the zillow estimate to around the list price unless it's a coincidence lol.

@Nayeema Chowdhury I don't know your financial situation or life style but here are a couple things that I do with extra money (aside from having a cushion which you seem to already have):

1. Reinvest like everyone's saying

2. Max out your yearly 401k contribution

3. Max out your yearly hsa

4. Make repairs to boost value

5. Pay off debts

I don't have kids but you could also place any extra income in their college savings fund, I think it's called a 529?

@George Lambrakis you can go to any licensed appraiser and they can do an arv appraisal for you (so long that they do private appraisals, some appraisers dont). I work for an appraisal company and we do it all the time.

@Jessica Barnes great choice! I'd be happy to recommend some lenders if you're interested. I also house hacked a duplex on the east side here and it was a fantastic journey, I wish you the best of luck! I used an FHA loan as well, although it may be a bit more difficult to find a good deal with it, it is possible.

@Emily Hosage did the other 1 that listed as new construction build from the ground up with new foundation, etc? If not then it's not new construction but it can be marketed as "like new." Its not going to raise your value to market as new construction for many reasons, most importantly being the appraisal will not consider it new construction thus if price point for new builds are a lot higher than Reno's then it won't appraise as such.

@Jason Morgan did you get the Cramer? I used just that after the courses to take the exam and it was very helpful.

@Robert Jensen Sounds like your processor is dropping the ball. Also, I work for an appraisal company and see people close literally within days of the appraisal report delivery.

No, your increase in rent will not raise the value of the sales comparison approach on the appraisal as it is not considered during that valuation.