Looking for a home during the pandemic....

[Ellener]

The a/c not working in my room means I need to move sooner rather than later so I decided to start looking. Drove around a bit yesterday; at least gas is cheap and the a/c works in my truck!

I am overwhelmed already, it's exhausting trawling through all the many places online, knowing that a lot of it is just 'spin'...and advertising blurb.

The internet keeps glitching. Aaaargh.

What should I look for??? How do I organise my search?

Why am I so crap at this?!

[gamon]

Driving around looking for a home doesn't seem to be the most efficient way of doing things.

Believe it or not, there are actually websites that show homes for rent and sale and give all sorts of information including pictures, property details, sales and rental prices and even addresses.

 

[Ellener]

1 hour ago, gamon said:

Driving around looking for a home doesn't seem to be the most efficient way of doing things.

Believe it or not, there are actually websites that show homes for rent and sale and give all sorts of information including pictures, property details, sales and rental prices and even addresses.

 

I've been looking at them, but it's hard to get a feel for the reality without going there and talking to people...

I'm going on the cheaper side too since I don't know about income streams longer term ( I've resisted claiming the benefits on offer so far )

[gamon]

Well sure you can't really know if a property is for you until you actually go see it.

Searching on line is simply a preliminary tool which sure beats driving around trying to find homes for sale. Either way ultimately you're going to get an appointment to see it up close and personal.

You did say something about your internet being glichy. Is that why you aren't using it as a search tool? Why not fix the problem with either a new modem or router, or start by calling your service provider and asking them about troubleshooting the issue.

 

[Ellener]

1 hour ago, gamon said:

Why not fix the problem with either a new modem or router, or start by calling your service provider and asking them about troubleshooting the issue.

It's not my place/account...but it is another reason to move asap!

 

[Highndry]

Since you're not sure about the long term, maybe you can swing a smokin' deal on an airbnb. I know a lot of them out west are desperate for any revenue. I have seen them at lower prices than regular rentals.

[Ellener]

9 hours ago, Highndry said:

Since you're not sure about the long term, maybe you can swing a smokin' deal on an airbnb. I know a lot of them out west are desperate for any revenue. I have seen them at lower prices than regular rentals.

You are right! I signed up.

[carhill]

Quick triage - set budget, be realistic about down/loan, see a lender first is preferable. Then shop neighborhoods via crime/schools/rentals, with low crime, good schools and low rental demographic being the ideal. No neighborhood is perfect. Much can be done without driving around. Zero in on a couple neighborhoods that MLS/Zillow/Redfin/Realtor.com, etc have listings in and drive them. Go from there. Important thing is being realistic about budget and realizing there is no perfect house.

The a/c not working in your room... extrapolate to being a homeowner, you call the HVAC tech and whatever it costs to fix, yup. Get a seller to pay for a home warranty. Usually either they or one of the agents will. If you're renting (don't know the situation) the landlord pays. My best story, tenants moved in Memorial Day weekend, house was fine prior, like decades, been ours since I was born, A/C compressor locked up. Cost? 2300 bucks to put a new condenser unit in (split unit). If the house had sold and the new owners were moving in, that would have been their nut, or the home warranty.

Anyway, have owned three residences, currently two, and a number of SFH rentals. BTDT in nearly all aspects of real estate.

Location, location , location. Good luck!

[preraph]

On 4/20/2020 at 3:11 PM, Ellener said:

I've been looking at them, but it's hard to get a feel for the reality without going there and talking to people...

I'm going on the cheaper side too since I don't know about income streams longer term ( I've resisted claiming the benefits on offer so far )

Ellener, a lot of the most affordable properties are not listed online at all.  I think driving around is your best bet.  

[carhill]

Back in the day if I found a good neighborhood I'd walk it and talk to owners/tenants to get the inside scoop. Sometimes people would know of houses coming up for sale that hadn't yet gone to market or been listed. Nowadays though, that's rare. FSBO's show up on Zillow/Redfin etc if the owners have half a brain since it's easy to list on Zillow/Craigslist, etc and free. That gets picked up and spread wide. I've always sold FSBO and the last rental I sold I listed it on Zillow one day and had brokers and buyers contacting me the next, the brokers of course wanting me to list with them. I usually do broker cooperation (reduced commission for a RE agent/broker to bring a buyer) because they'll then handle all the paperwork for their buyer, makes my life simple.

With the -19 deal, hard to walk neighborhoods, people are reticent to contact. Still, driving them one might see signs of a dead property/looming REO and/or FSBO signs. Also, check out any for rent stuff and ask the owner if they're interested in a lease option. I've sold two rentals that way, to the tenants on lease options.

Plenty of ways to approach the market. To be successful though, gotta be realistic about what one can handle financially and practically. Doing the financial stuff beforehand is half the battle. Also, when I see a buyer who's done their homework and has a solid pre-approval letter and 30 day proof of funds I'm likely to bend more on price than for someone less on top of things. Why? Sale is more likely to close and not be a problem sale. That has value.

[Ellener]

Proving really difficult so far. No one seems to answer calls or emails or deal with anything now! Maybe home-working is super-inefficient? 

Applied for benefits; that number is permanently engaged...going to email them in a minute but not excited anyone will respond.

No stimulus check as yet. 

It's only 7.30 am and I'm already dreading my day and have a headache. 

 

[IndigoNight]

Unless you're in tight situation, and need to find a place asap, it might be best to slow down, and prioritize.

Some things to think about:

* What's your price range? 

* What do you need in a home? Sq ft, bed/bath, amenities, yard, neighborhood, and whatever else you feel is important. Be realistic about your needs and wants 

* What kind of time frame are you working with? Do you have to move, or is it just time to find your own place?

Once you have the basics in mind, when you look at ads online, you can rule out anything that doesn't fit. When I was looking at homes I would try to find 3 potentials. If I was unfamiliar when their location, if cruise the general neighborhood, and if I liked it, is scheduled and another to view it. If it wasn't a good fit, if try to find another home to fill it's place. Before I filled it any paperwork, is typically drive the neighborhood midweek and again on the weekend. That should give you an idea of how lively/quiet an area is. For example, my husband and I, we wouldn't buy/rent a home in an area with a lot of children outside, or near schools. We've raised or kids, we enjoy things a bit quieter. Make sure you aren't moving into a neighborhood that isn't right for you 

If you're renting, the price probably won't change too much anytime soon. However, if you're looking to buy, you may want to seriously think about biding your time if it's possible. Housing prices are fluctuating right now. No one is really sure how the economy is going to recover, and there is no way to know until we're in the thick of it. I recently sold my parents home (estate sale) for $500 below market. I didn't brother to make a counter offer. I'm handling their estate and just want to be done, and it was well above the payoff of the mortgage. (Sometimes estate sales are great, due to eager sellers). They're homes market value has dropped $17,000 in less than a month since I sold it. I got lucky! The buyer, not so much. My sister lives in an area effected by COVID-19, and her home price has dropped over $50,000 in just over a month. She's fine, because it was an inflated price, and her mortgage is much lower. However, losing a potential $50,000 in value is not great either.

It might be worth it to rent until the market sorts itself out. There are sure to be foreclosures coming, and those can be good deals. It's a gamble no matter what you decide 

When I didn't have time to dig through ads, I either hired a realtor, or called property management companies. It was worth paying them a bit to make my life less stressful. I also let my friends know I was looking for a place.

Really, unless you are in jeopardy of losing your current place to live, try not to drive yourself too crazy trying to find a place. Be realistic about what you can afford. Try to find the best fit for you, and the foreseeable future. You'll come across something. If it's freaking you out, consider hiring a realtor, or rental/leading agent. 

Times are stressful right now, so whatever you can do to minimize your stress is a good thing.

Best of luck!