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Author Topic: Housing market pissing me off
Mr.Lucky
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Starting to get pissed (vent warning). I don't make a lot of money like a bunch of people on this site. But its pissing off no matter what house I go to bid on either they already accepted an offer, aren't taking anymore, or my best one I got out bid. With a baby and a non working MBA graduate fiance and a credit score over 785 I only get a 150k approval. Work with what I can but its getting demoralizing every time I bid or want to bid on a good find I'm either beat before I start or down the line. Fu@@in irritated. Just wanna provide a house for my family. Rant over [Embarrassed]

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95GT: Bolt ons.
Good sellers/buyers: Stangs R Us, 1SicGt, sn4bwc, racsirx, WickedStang, Autumnstang97, cali95gt

Posts: 4197 | From: Manteca | Registered: Sep 2002  |  :
SLOWBACK 67
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Sorry to hear about that. I wanna get a house here in Vallejo within 2 years( my girl and I are trying to plan our wedding plus have to get my fastback on the road again. Good luck house hunting [patriot]

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Originally posted by turbo50:
I have no intenions of keeping anyones parts or taking anyones money.

Posts: 8577 | From: Vallejo | Registered: Dec 2005  |  :
Kaindia50
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ur kinda goin thro same shitt i am...but its just my agent is a slow b****!!! i found hella nice houses ...sent offers on houses and this dumb b**** sends it when like sum1 else is basicly closein the deal!!!! shes with Keller William Realty in elk grove on my 6th house ...let see if shes on top of her game ...but i need a diff agent!!!!
Posts: 361 | From: 916 | Registered: Jan 2005  |  :
SydeWaySix
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I feel you bro! I went through the same shit a few months ago. We started really house hunting in October 2008. I've experienced being outbid and counter-offered too high and ended up not getting the first few houses we wanted. With time, the house you want for the right price will come! I just closed and got the keys to our new pad last wednesday and can't be happier.

Trust me, dont settle just for anything and keep persistant! We ended up getting a nice condo/townhouse in a gated community in Hayward, 3 bd 2.5 ba, for a very decent price...basiclly 50% off of what it sold for in 2005!

Keep pushing and looking...your time will come! dDont give up because nowadays you can get money for closing costs, credits from the state, and credits from the feds...nows the time!!!!

Good luck and happy hunting. One thing my agent embedded in mine and my wife's mind was to NEVER get attached to any home you put an offer on. Youre gonna encounter cash buyers and people with better approvals, but dont let them stop you!

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2013 Boss 302 #356. Performance White. Stock.
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Posts: 9882 | From: Bay Area | Registered: Dec 2002  |  :
N8
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In stockton, 150k will get you a lot of house. I am talking 5 bedrooms 2 bath, 3 car garage and a nice piece of land. But I feel you on the loan deal. I am actually trying to get a business loan and going through something similar.

But keep in there, and do not settle. It is a buyers market, but the banks are playing hardball.

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SHAWN DOES THE INCULED SMOTHING ATHE VALLY OF THE BLOCK AN OIL PASGES

i can't even bust a grape in the napa valley gonna bust a grape.

Fasthack

Posts: 11637 | Registered: Sep 2005  |  :
Mr.Lucky
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quote:
Originally posted by N8:
In stockton, 150k will get you a lot of house. I am talking 5 bedrooms 2 bath, 3 car garage and a nice piece of land. But I feel you on the loan deal. I am actually trying to get a business loan and going through something similar.

But keep in there, and do not settle. It is a buyers market, but the banks are playing hardball.

exactly... Im looking out in Antioch, Oakley, very few in Brentwood and a bunch in Tracy. I live in hayward but the only places in my range are out there. Being my lady doesnt work and i commute as part of my job with a company vehicle and company gas the extra distance doesnt bother me. I never once have or will get attatched to a house. Just sucks, ive seen over a 100 houses, and lost on the 4 bids ive submitted. Gotta keep truckin on but its frustrating. [patriot]

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95GT: Bolt ons.
Good sellers/buyers: Stangs R Us, 1SicGt, sn4bwc, racsirx, WickedStang, Autumnstang97, cali95gt

Posts: 4197 | From: Manteca | Registered: Sep 2002  |  :
88DroptopGT
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Just rent and keep saving.

It's all an equation now. Banks don't wanna risk any more losses. They wouldn't give a 400k AR to a single person making $20/hr @ Costco anymore.

Or ust move out to the boonies and commute. Stockton, Manteca, anywhere around there you can get a MANSION for cheap. I just scanned craiglist and found a $1600/month for 2,000 sq ft...

Posts: 3976 | From: 707 | Registered: Mar 2003  |  :
Mr.Lucky
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quote:
Originally posted by 88DroptopGT:
Just rent and keep saving.

It's all an equation now. Banks don't wanna risk any more losses. They wouldn't give a 400k AR to a single person making $20/hr @ Costco anymore.

Or ust move out to the boonies and commute. Stockton, Manteca, anywhere around there you can get a MANSION for cheap. I just scanned craiglist and found a $1600/month for 2,000 sq ft...

luckily me/my lady/and daughter been staying at my parents. Paid off debt, my stang sitting w/o a motor, saving up for a bigger down payment. Ya even in my price range (150k or less) EVER house ive looked at has been 3 bed or bigger, 1 1/2 bath or bigger, and always 1100 sq feet or bigger. Average is 3bd/2bth 1200sqft for between 110K and 150K. The one i missed out on that caused this rant was 3bd/2bth, 1300 sqft, with a pool for 120K. [Embarrassed]

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95GT: Bolt ons.
Good sellers/buyers: Stangs R Us, 1SicGt, sn4bwc, racsirx, WickedStang, Autumnstang97, cali95gt

Posts: 4197 | From: Manteca | Registered: Sep 2002  |  :
RedBaron
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Hey, Kaindia50, I hate to tell ya, but KW was your first red flag!
- try this guy- My wife and I honestly can't say enough good things about him or his partner Lisa- good people!! Really down to earth, very helpful, worked all hours, and there's no lagging on his part. Honestly he went above and beyond his job description for us.
They actually have the inside scoop and connections with REOs, etc. because of their good raport.

The Mark and Lisa Team
Mark Delgado - Coldwell Banker
(916) 705-2298- that's his direct line
http://www.californiamoves.com/AgentOffice/agentdetail.aspx?agent=13069&office=0

Good luck! Tell him Dave and Deb say hi! He might tell you the hell we went through before we found him!

And by the way, if you're looking for an honest hard working loan agent too, we found this guy after getting screwed by two others- he's great!

Antonio Lopez
Summit Funding
916-396-8193
916-852-9880 ext 135

Good luck- and Bottled95gt, if you're thinking about Sac, try him too!

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1988 4i coupe,
88 gt
85 ttop-

Posts: 830 | From: S.S.F. | Registered: Apr 2004  |  :
Kaindia50
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thanks RedBaron ....ya guys it pissed me off i found atleast 7/8 house 2 story with 4bed and 2/3 half baths with 1700+ sqft...under $150,000K in the sac/elk grove area and this agent of mine is like kickin back smokin a joint when i wanna make a offer ...dosent answer my calls untill 8pm or even later calls back tellin me sum new damn excuse! i looked at a nice lightwight fixer (needs carpet changed or cleaned & interior paint) last thursday it was a rented out spot....specs 2story 1774sqft 4 bed 3 n half bath...built in 93 2 car garage and a nice pool in the back...price $105,000...fuken callin her and callin her so left a message she calls back friday evenin "oh sum1 already submited a offer im ganna wait till monday and see if bank took the offer" and this wut did it for me,i was like fuk this i need a fuken house and this bezzy aint doin shitt!!! time fo a new agent
imma hit up RedBaron's recomendation freaken 7 am tomarrow!!! lol [dance]

Posts: 361 | From: 916 | Registered: Jan 2005  |  :
F.or O.nly R.eal D.rivers
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Dam i thought I was the only one going through this shit! Good luck man I definetely know what your going through,my realtor is kinda shitty too,hes got 1 more week to get on his shit after that im going to somebody else

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R.I.P MATT "4-Speed King"

Posts: 179 | From: RICHMOND,CA | Registered: Feb 2009  |  :
AL STOCK
Its All Stock
Cuzzon
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Which area are you looking into? Try Sacramento or areas surrounding there, 3 of my friends got houses there without a hassel, one of them did 5% to 0 down.

Kaindia50 - Are you pre-approved? If not, go get FHA pre-approved first (first time buyer loan)

Sounds like the agent you dealing with EITHER KNOWS YOU WONT LAND AN OFFER or thinks your not going to get a house with your qualifications (down payment, credit score, money in bank etc etc , or just plain useless but Call up these guys

PLATINUM HOME MORTGAGE
Citrus Heights, CA 95621
Office: (916) 727-1101
Sacramento: (916) 441-1598

^^ They will get you pre-approved on the phone depanding on your qualifications.

They are the same folks who got my sister her house here in San Bruno and same folks who got me pre-approved for a good loan. So im just waiting on the perfect house (i stay picky lol).


Goodluck folks, this is the year to get a house. [patriot] [patriot]

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Posts: 6486 | From: San Bruno | Registered: Sep 2002  |  :
Dag302
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I just went through the same thing. I put in at least 50 offers and for one reason or another and did not get any. One even closed for less than I had offered. I finally started looking for a little cheaper house I could pay cash for and a house that was a foreclosure came on. I went and looked at it the same day and put a full price cash offer in and got it. It takes time, the only advice I have I have is not to get to attached to any house. I did that to one and really got let down. Keep looking and putting offers in and something will come back.
Posts: 2842 | From: Sacramento | Registered: Jul 2004  |  :
AL STOCK
Its All Stock
Cuzzon
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quote:
Originally posted by Dag302:
I just went through the same thing. I put in at least 50 offers and for one reason or another and did not get any. One even closed for less than I had offered. I finally started looking for a little cheaper house I could pay cash for and a house that was a foreclosure came on. I went and looked at it the same day and put a full price cash offer in and got it. It takes time, the only advice I have I have is not to get to attached to any house. I did that to one and really got let down. Keep looking and putting offers in and something will come back.

Or offer MORE then asking price but you gotta have enough money to play with in the bank.

--------------------
.:: FANATICS ::.
"Step Your Game Up"

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90 SSP
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Posts: 6486 | From: San Bruno | Registered: Sep 2002  |  :
Kaindia50
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quote:
Originally posted by AL STOCK:
Which area are you looking into? Try Sacramento or areas surrounding there, 3 of my friends got houses there without a hassel, one of them did 5% to 0 down.

Kaindia50 - Are you pre-approved? If not, go get FHA pre-approved first (first time buyer loan)

Sounds like the agent you dealing with EITHER KNOWS YOU WONT LAND AN OFFER or thinks your not going to get a house with your qualifications (down payment, credit score, money in bank etc etc , or just plain useless but Call up these guys

PLATINUM HOME MORTGAGE
Citrus Heights, CA 95621
Office: (916) 727-1101
Sacramento: (916) 441-1598

^^ They will get you pre-approved on the phone depanding on your qualifications.

They are the same folks who got my sister her house here in San Bruno and same folks who got me pre-approved for a good loan. So im just waiting on the perfect house (i stay picky lol).


Goodluck folks, this is the year to get a house. [patriot] [patriot]

this chick is young bro...like 28...shes reaching for them big sales ...like houses around 200k up range so she can make a good amount of pocket change...im already approved and doin $15k down and dads givin me 10k (weddin gift hehe) so $25,000 is a good amount of downpayment i dont think a bank would refuse
Posts: 361 | From: 916 | Registered: Jan 2005  |  :
AL STOCK
Its All Stock
Cuzzon
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quote:
Originally posted by Kaindia50:
quote:
Originally posted by AL STOCK:
Which area are you looking into? Try Sacramento or areas surrounding there, 3 of my friends got houses there without a hassel, one of them did 5% to 0 down.

Kaindia50 - Are you pre-approved? If not, go get FHA pre-approved first (first time buyer loan)

Sounds like the agent you dealing with EITHER KNOWS YOU WONT LAND AN OFFER or thinks your not going to get a house with your qualifications (down payment, credit score, money in bank etc etc , or just plain useless but Call up these guys

PLATINUM HOME MORTGAGE
Citrus Heights, CA 95621
Office: (916) 727-1101
Sacramento: (916) 441-1598

^^ They will get you pre-approved on the phone depanding on your qualifications.

They are the same folks who got my sister her house here in San Bruno and same folks who got me pre-approved for a good loan. So im just waiting on the perfect house (i stay picky lol).


Goodluck folks, this is the year to get a house. [patriot] [patriot]

this chick is young bro...like 28...shes reaching for them big sales ...like houses around 200k up range so she can make a good amount of pocket change...im already approved and doin $15k down and dads givin me 10k (weddin gift hehe) so $25,000 is a good amount of downpayment i dont think a bank would refuse
$25K down for a house for $100-150K is MORE THEN ENOUGH.

What kinda of loan did you get approved on? FHA? If FHA then do as little as 3.5% down and would still get the house.

My sister got a nice house here like 4 blocks away, 3 BD, 3BA, HUGE HUGE backyard with 3.5% down, they had well over $150K in their bank, and walked away with 3.5% down and now already paid $30K for 2 extra bedrooms. Now they ready to spend the big bucks on my wedding hahahahaha

If your agent aint good, move onto another, if you have that feeling that she isn't helping you out, then follow your instinct and get a different agent.

--------------------
.:: FANATICS ::.
"Step Your Game Up"

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Posts: 6486 | From: San Bruno | Registered: Sep 2002  |  :
SydeWaySix
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I agree...you definitely need a good agent! My agent was real pushy and answered all my calls no matter what time. To make things sweeter, he's close friends with the Vice President of Bank of America Home Mortgages in Foster City, so the closing process flew by VERY fast. If you're looking to buy in the Bay Area, I can give you his info.

With him, you just need to know what you want and where. I basically found my prospect houses and he did all the talking and offering in a very fast pace.

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1965 Fastback GT Restored to stock spec.

Posts: 9882 | From: Bay Area | Registered: Dec 2002  |  :
Mr.Lucky
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ive got a FHA loan with more than enough for a down payment. Kaindia and redbaron, maybe you guys have had bad experiences with KW, but theyre ranked #10 nationally (not defending them just sayin). Even with them i understand your frustration. My agent is with them as well, but i couldnt be happier. Shes 100x better than my first agent. Each house ive lost on isnt due to her. Its either i viewed the house and an offer was pending before i viewed it, or i was countered/ out bid. I love my agent. But ya the whole thing sucks. We'll see tomorrow. Lots riding on manana. [patriot]

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95GT: Bolt ons.
Good sellers/buyers: Stangs R Us, 1SicGt, sn4bwc, racsirx, WickedStang, Autumnstang97, cali95gt

Posts: 4197 | From: Manteca | Registered: Sep 2002  |  :
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it's because you're black.

on a serious note, i need another line of credit before i can even get a loan!! arrrrgh!

mom said she'd lend me all the money i need tho [Razz]

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2100+ posts, 15 useful

Posts: 2172 | From: vallejo | Registered: Mar 2007  |  :
Kaindia50
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yha mines also FHA loan...im not doubtin KWR ...its just this damn agent ....ITS TIME FOR A CHANGE!!!
Posts: 361 | From: 916 | Registered: Jan 2005  |  :
RedBaron
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Go get 'em, boys! From what I went through, and what I see now, these guys need to work for our money!!

Just be careful on the financing side though- don't let those clowns run too many credit scores on you!!

--------------------
1988 4i coupe,
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85 ttop-

Posts: 830 | From: S.S.F. | Registered: Apr 2004  |  :
BaLleRz68
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Just be patient man. I closed on my house last month. I put over 30+ houses and I was getting pissed off because I was losing to a lot of investors. It gets hella frustrating but you will eventually find your house. I know with FHA loans you have to pay PMI/MIP because your only putting 3.5% down. If anyone has trouble with there agent/realtor I would just find another one who is experienced . There are plenty out their who want to help you find a home, not buy a house. I heard a lot are really desperate and are willing to do anything they can for a sale.
Posts: 114 | From: Bay Area, CA | Registered: Jan 2003  |  :
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a real estate agent family friend told me the investors get first dibs when houses go on the market, even before they do.

--------------------
2100+ posts, 15 useful

Posts: 2172 | From: vallejo | Registered: Mar 2007  |  :
Jdub07
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All I can say is if you are in a possition to buy right now your are already ahead of the game. Also if you are outbid then you need to assume that house was not for you. Stick to it and rant as offten as you need to. I know it helped me and right when we were about to give up we found the perfect home for us. Good luck man! [patriot] [patriot]
Posts: 7282 | Registered: Apr 2003  |  :
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quote:
Originally posted by AL STOCK:

$25K down for a house for $100-150K is MORE THEN ENOUGH.

What kinda of loan did you get approved on? FHA? If FHA then do as little as 3.5% down and would still get the house.

My sister got a nice house here like 4 blocks away, 3 BD, 3BA, HUGE HUGE backyard with 3.5% down, they had well over $150K in their bank, and walked away with 3.5% down and now already paid $30K for 2 extra bedrooms. Now they ready to spend the big bucks on my wedding hahahahaha

If your agent aint good, move onto another, if you have that feeling that she isn't helping you out, then follow your instinct and get a different agent.
[/QUOTE]

If your putting that little down don't you have to pay PMI though?

--------------------
'05 F150 4x4

Posts: 2056 | From: San Jose | Registered: Mar 2004  |  :


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