Search found 953 matches

by jfn111
Wed Dec 12, 2018 8:12 pm
Forum: Personal Finance (Not Investing)
Topic: What percentage of your net worth is your home equity?
Replies: 309
Views: 21642

Re: What percentage of your net worth is your home equity?

Paid off house contributes about 12% to net worth.
by jfn111
Sun Dec 09, 2018 7:08 am
Forum: Personal Finance (Not Investing)
Topic: Buying house for cash, sellers requesting proof of assets
Replies: 23
Views: 4482

Re: Buying house for cash, sellers requesting proof of assets

We deal with this all the time. One of my investors is with a wealth management group at US Bank and she just has the bank sign a letter that states she has the necessary funds to make the purchase. Other clients have taken a screen shot of their bank or brokerage accounts. We redact any account num...
by jfn111
Sun Dec 02, 2018 7:55 am
Forum: Personal Finance (Not Investing)
Topic: Is this how early semi-retiring work?
Replies: 13
Views: 2525

Re: Is this how early semi-retiring work?

I think it's different for everyone. I worked 33 years for mega corp and took an early retirement at age 55. I started collecting my pension and receive retiree healthcare ($430 a month for DW and myself). I could afford to stay home but was not ready to do nothing so I helped a friend in his instal...
by jfn111
Sat Nov 17, 2018 6:34 pm
Forum: Personal Consumer Issues
Topic: Home sale etiquette: wall repair
Replies: 53
Views: 3639

Re: Home sale etiquette: wall repair

In our market leaving small hangers is fine. Where we run into problems is people that had TV's mounted to the wall and remove the mount usually leaving a mess. Our contract state that anything screwed to a wall is permanent and has to stay unless specified in the contract. This includes mounting br...
by jfn111
Sat Nov 17, 2018 6:04 pm
Forum: Personal Finance (Not Investing)
Topic: Incompetent home inspector - what to do?
Replies: 52
Views: 5183

Re: Incompetent home inspector - what to do?

Around here seller's agents and sellers will not look at an inspection report. They will refuse delivery if you send them one. The reason is that any known defects must be disclosed to any other buyer. What they don't know, they can't disclose. The "plastic pipes" may have been drain pipes. These s...
by jfn111
Sat Nov 17, 2018 9:04 am
Forum: Personal Finance (Not Investing)
Topic: Incompetent home inspector - what to do?
Replies: 52
Views: 5183

Re: Incompetent home inspector - what to do?

I felt, as a seller, that I had no control over the process. I think that happens to people often in life. In real estate, I've learned to hire the best and let them do their thing. I always maintain final say on things but the top people usually know how to handle various situations and get the sa...
by jfn111
Sat Nov 17, 2018 8:52 am
Forum: Personal Finance (Not Investing)
Topic: Water-Sewer line insurance
Replies: 34
Views: 1882

Re: Water-Sewer line insurance

Where there is a problem do they have to replace the entire sewer line, or can they just replace a few feet where it collapsed? Here in the Minneapolis metro area it's common to just replace the damaged part of the line. It's always good news for the homeowner when the repair doesn't involve diggin...
by jfn111
Sat Nov 17, 2018 8:28 am
Forum: Personal Finance (Not Investing)
Topic: Water-Sewer line insurance
Replies: 34
Views: 1882

Re: Water-Sewer line insurance

It can be a good insurance if you have an older house and plan on selling in the next few years. For whatever reason we have run into a rash of sewer problems during Buyer inspections this year. Sewer scoping has become more common, during inspections, and we are finding more cracked and partial col...
by jfn111
Sat Nov 17, 2018 8:22 am
Forum: Personal Finance (Not Investing)
Topic: Incompetent home inspector - what to do?
Replies: 52
Views: 5183

Re: Incompetent home inspector - what to do?

Around here seller's agents and sellers will not look at an inspection report. They will refuse delivery if you send them one. The reason is that any known defects must be disclosed to any other buyer. What they don't know, they can't disclose. The "plastic pipes" may have been drain pipes. These s...
by jfn111
Thu Nov 15, 2018 11:44 am
Forum: Personal Finance (Not Investing)
Topic: Accuracy of Zillow/Trulia/Redfin Estimates
Replies: 51
Views: 4585

Re: Accuracy of Zillow/Trulia/Redfin Estimates

The more houses in an area have that have sold the closer the estimate is to reality. The cookie cutter house in my neighborhood is a 3 bedroom rambler built in the 50's. The prices range from $220's to $270 depending on condition and upgrades. Zillow will say most houses are worth $240. Not horribl...
by jfn111
Wed Oct 31, 2018 1:12 pm
Forum: Personal Consumer Issues
Topic: The most you ever paid for a prescription
Replies: 80
Views: 3629

Re: The most you ever paid for a prescription

Wow, looking at what some people have to pay I'll quit bitching about the $58 dollars I pay every 3 months for Pantoprazole.
by jfn111
Mon Oct 29, 2018 6:05 pm
Forum: Personal Finance (Not Investing)
Topic: Moving to Minnesota
Replies: 28
Views: 2892

Re: Moving to Minnesota

Welcome to Minnesota :sharebeer As others have shared there is plenty of apartments or Town House, Condo rentals in the northern suburbs. Generally, the further away from the downtown areas the cheaper the rent. 694 can get backed up during rush hour, and our never ending road construction, so the c...
by jfn111
Thu Oct 25, 2018 7:11 am
Forum: Investing - Theory, News & General
Topic: What are you up YTD? [Year To Date]
Replies: 2033
Views: 379088

Re: What are you up YTD? [Year To Date]

Still up for the year but only 0.67%. International is my biggest loser so far.
by jfn111
Sat Oct 20, 2018 6:06 pm
Forum: Personal Finance (Not Investing)
Topic: Waiving contingencies for co-op purchase?
Replies: 17
Views: 1184

Re: Waiving contingencies for co-op purchase?

Thanks for all the answers so far. My broker is trying to get my offer even considered (since no deal and she doesn’t get commission). To make it more appealing than the cash offer, I made my offer higher than what we think the cash offer was by about $150K, but they still prefer cash. I’m wonderin...
by jfn111
Wed Oct 17, 2018 6:19 pm
Forum: Personal Consumer Issues
Topic: Buyers commission on a condo purchase
Replies: 29
Views: 1851

Re: Buyers commission on a condo purchase

J295 wrote:
Wed Oct 17, 2018 6:07 pm
I don’t think you can really look at a fee like this in a vacuum. So much depends upon the pertinent facts.
+1
by jfn111
Wed Oct 17, 2018 5:04 pm
Forum: Personal Consumer Issues
Topic: Buyers commission on a condo purchase
Replies: 29
Views: 1851

Re: Buyers commission on a condo purchase

The $400 is probably the Broker Admin fee. This a fee that goes to the Brokerage to cover admin support plus just general office expenses . (Ours is $499). I will waive the fee for the client, and pay it myself, for larger sales. Like staples, paper clips and coffee creamer? Sounds like the doc fee...
by jfn111
Wed Oct 17, 2018 12:22 pm
Forum: Personal Consumer Issues
Topic: Buyers commission on a condo purchase
Replies: 29
Views: 1851

Re: Buyers commission on a condo purchase

The $400 is probably the Broker Admin fee. This a fee that goes to the Brokerage to cover admin support plus just general office expenses. (Ours is $499). I will waive the fee for the client, and pay it myself, for larger sales. So, what does the split that the broker gets on the commission cover? ...
by jfn111
Wed Oct 17, 2018 12:21 pm
Forum: Personal Consumer Issues
Topic: Buyers commission on a condo purchase
Replies: 29
Views: 1851

Re: Buyers commission on a condo purchase

The $400 is probably the Broker Admin fee. This a fee that goes to the Brokerage to cover admin support plus just general office expenses . (Ours is $499). I will waive the fee for the client, and pay it myself, for larger sales. Like staples, paper clips and coffee creamer? Sounds like the doc fee...
by jfn111
Wed Oct 17, 2018 10:05 am
Forum: Personal Consumer Issues
Topic: Buyers commission on a condo purchase
Replies: 29
Views: 1851

Re: Buyers commission on a condo purchase

The $400 is probably the Broker Admin fee. This a fee that goes to the Brokerage to cover admin support plus just general office expenses. (Ours is $499). I will waive the fee for the client, and pay it myself, for larger sales.
by jfn111
Tue Oct 16, 2018 2:37 pm
Forum: Investing - Help with Personal Investments
Topic: advice on first home
Replies: 28
Views: 1777

Re: advice on first home

I agree that maybe now isn't the right time for you to buy a house. I disagree about blaming the agent. If someone hires me to help them buy a house, guess what, I help them buy a house. I'm not their banker, financial planner or father. :oops:
by jfn111
Fri Oct 12, 2018 6:22 am
Forum: Personal Consumer Issues
Topic: What to do with Bose cube speakers left in rec room
Replies: 17
Views: 1878

Re: What to do with Bose cube speakers left in rec room

Interesting - the forum seems mixed. Thinking I'll try plugging them into my receiver and see what happens. Don't really care if I blow them out. But guessing I'll end up putting in my old speakers. I've read there is a big gap in then 150-280 hz range. I'm by no means an audiophile but do apprecia...
by jfn111
Fri Oct 12, 2018 6:07 am
Forum: Personal Finance (Not Investing)
Topic: Home Purchase - Sellers Request Help with Repairs
Replies: 69
Views: 3243

Re: Home Purchase - Sellers Request Help with Repairs

Based on a lot of the responses I don't know how half these folks ever found a house that satisfied them. :shock: The bottom line, once they signed the agreement closing the Inspection Contingency you are under no obligation to contribute to the new system. But... to ensure a quality job, if this is...
by jfn111
Thu Oct 11, 2018 2:29 pm
Forum: Personal Consumer Issues
Topic: UPDATE Considering new Honda Pilot, other suggestions?
Replies: 35
Views: 2064

Re: Considering new Honda Pilot, other suggestions?

I have a Honda CRV for my work car and we were looking at the Pilot to replace our Chevrolet Traverse. After looking at both we bought a new Traverse. Larger inside hauling capacity and all the saftey features you want in a new vehicle.
by jfn111
Thu Oct 11, 2018 8:52 am
Forum: Personal Consumer Issues
Topic: What to do with Bose cube speakers left in rec room
Replies: 17
Views: 1878

Re: What to do with Bose cube speakers left in rec room

I use the Bose cubes in my family room and the wife loves them.
by jfn111
Sun Oct 07, 2018 1:18 pm
Forum: Personal Consumer Issues
Topic: Radon
Replies: 10
Views: 1291

Re: Radon

We encourage all our Buyer's to have the Radon test done. There is no such thing as zero Radon, in MN, so we use the 4.0 as the benchmark for negotiating a mitigation system. Whether you should have one at 3.8, who knows, but I won't let one of my Seller's pay for one under 4.0. YMMV
by jfn111
Sat Oct 06, 2018 9:27 am
Forum: Personal Finance (Not Investing)
Topic: Concerns of buying a home...what would you do?
Replies: 23
Views: 2167

Re: Concerns of buying a home...what would you do?

It's one of those damned if you do and damned if you don't scenarios. My partner and I have watched the housing prices go up in our market and we've been anticipating a correction ourselves. The problem is does it come next year or 5 years from now? If Orlando is where you want to live for the long ...
by jfn111
Thu Oct 04, 2018 12:17 pm
Forum: Personal Consumer Issues
Topic: Accepting a Contingency Offer
Replies: 24
Views: 1517

Re: Accepting a Contingency Offer

kelvan80 wrote:
Wed Oct 03, 2018 4:40 pm
Can't the buyers agent see what the contingency is on the MLS listing?
Yes, we can see the contingencies in the MLS feed.
by jfn111
Thu Oct 04, 2018 8:18 am
Forum: Personal Consumer Issues
Topic: Accepting a Contingency Offer
Replies: 24
Views: 1517

Re: Accepting a Contingency Offer

That type of offer is quite common. We don't advise our seller's to accept contingency offers based on the sale of the buyer's house but we do advise them to accept offers based on "the successful closing" of the buyer's house. We ask to see the contract. We want to make sure the Inspection period i...
by jfn111
Fri Sep 28, 2018 12:32 pm
Forum: Personal Consumer Issues
Topic: cleaning lady stealing
Replies: 49
Views: 7532

Re: cleaning lady stealing

I have friends who will go through the medicine cabinet of any house they happen to be in for any reason. Seems it's just second nature for them. If you have good stuff, you have to hide it or keep it locked up, otherwise it's considered up for grabs just like the cheese plate on the kitchen counte...
by jfn111
Wed Sep 26, 2018 6:16 am
Forum: Personal Consumer Issues
Topic: First time home buyer and Rookie investor looking for advice on home buying process [Updated]
Replies: 20
Views: 1275

Re: First time home buyer and Rookie investor looking for advice on home buying process

Nothing wrong with trying to negotiate the $6,000. Once your that far along in the process most home owners don't want to start over and would be willing to at least split it. YMMV
by jfn111
Tue Sep 25, 2018 10:52 am
Forum: Personal Finance (Not Investing)
Topic: Offer 3.5% to entice buyers agent
Replies: 12
Views: 1508

Re: Offer 3.5% to entice buyers agent

3% would be fine. The average here in MN is 2.7% to the Buyers Agent. And yes, it is more work, and a pain the the A#@ dealing with FSBO's. :shock:
by jfn111
Tue Sep 18, 2018 5:00 pm
Forum: Personal Consumer Issues
Topic: Dental work and hypertension issue
Replies: 42
Views: 3534

Re: Dental work and hypertension issue

I'd be screwed going to that clinic. :shock:
by jfn111
Tue Sep 18, 2018 8:03 am
Forum: Personal Finance (Not Investing)
Topic: Bank of America credit card “feature” (be careful with autopay)
Replies: 45
Views: 2886

Re: Bank of America credit card “feature” (be careful with autopay)

I also have Auto-pay setup for the minimum balance. We generally pay our credit cards weekly but if were traveling it's nice to have a backup in place.
by jfn111
Thu Sep 13, 2018 1:52 pm
Forum: Personal Consumer Issues
Topic: Going to the Everglade. A few questions please.
Replies: 22
Views: 1504

Re: Going to the Everglade. A few questions please.

I've driven to Key West, from Naples, a couple of times in the last few years. Hwy 41 isn't a toll road and Hwy 1 down to the keys isn't a toll road. (Plan for a long slow drive).
by jfn111
Mon Aug 27, 2018 3:44 pm
Forum: Personal Consumer Issues
Topic: Real Estate sale question. Reasonable offer expiration time period?
Replies: 15
Views: 673

Re: Real Estate sale question. Reasonable offer expiration time period?

If I make an offer, for a client, and I don't have an answer back within 24 hours I assume they're fishing for a higher offer and we move on to look at other houses. (Unless the listing specifies that all offers will be looked at on X date). It's also in the sellers best interest to tell a potential...
by jfn111
Mon Aug 20, 2018 11:50 am
Forum: Personal Consumer Issues
Topic: My son was scammed on Craigslist- how to get money back
Replies: 46
Views: 7707

Re: My son was scammed on Craigslist- how to get money back

Look on the bright side, he could have wired $400k https://www.nbcbayarea.com/news/local/Experts-Virtually-All-CA-Real-Estate-Transactions-Targeted-By-Hackers-487165181.html Ten years of sacrifice and dreams of home ownership gone in a flash. That is quite a punch to the gut. We make all of our cli...
by jfn111
Sun Aug 19, 2018 12:44 pm
Forum: Personal Consumer Issues
Topic: My son was scammed on Craigslist- how to get money back
Replies: 46
Views: 7707

Re: My son was scammed on Craigslist- how to get money back

Look on the bright side, he could have wired $400k https://www.nbcbayarea.com/news/local/Experts-Virtually-All-CA-Real-Estate-Transactions-Targeted-By-Hackers-487165181.html Ten years of sacrifice and dreams of home ownership gone in a flash. That is quite a punch to the gut. We make all of our cli...
by jfn111
Wed Jul 18, 2018 8:04 am
Forum: Personal Finance (Not Investing)
Topic: Selling mom's house
Replies: 50
Views: 4328

Re: Selling mom's house

I don't want to say never but.. she'll never get a loan on a house that can't be insured unless she takes out a rehab loan. Good luck with that because she will now have to qualify for a higher loan amount to cover the repairs. If you stay involved it sounds like it will turn into a money pit for al...
by jfn111
Wed Jul 11, 2018 7:31 am
Forum: Investing - Help with Personal Investments
Topic: What's up with Wells Fargo
Replies: 27
Views: 3195

Re: What's up with Wells Fargo

It all seems kind of crazy. My son has a WF credit card, checking and savings accounts with direct deposit from his work and 2 C/D's but they think his Brokerage account is abandoned. WTH? :oops:
by jfn111
Tue Jul 10, 2018 12:01 pm
Forum: Investing - Help with Personal Investments
Topic: What's up with Wells Fargo
Replies: 27
Views: 3195

Re: What's up with Wells Fargo

Several years ago I helped my son setup a Wells Account to put some excess cash in. My son has some disabilities so I help him with his accounts. We got a letter yesterday requiring us to verify the account or it will be considered abandoned. :shock: The funny thing is we log into the account month...
by jfn111
Tue Jul 10, 2018 7:28 am
Forum: Investing - Help with Personal Investments
Topic: What's up with Wells Fargo
Replies: 27
Views: 3195

What's up with Wells Fargo

Several years ago I helped my son setup a Wells Account to put some excess cash in. My son has some disabilities so I help him with his accounts. We got a letter yesterday requiring us to verify the account or it will be considered abandoned. :shock: The funny thing is we log into the account monthl...
by jfn111
Sat Jun 30, 2018 8:42 pm
Forum: Investing - Theory, News & General
Topic: Do Advisers Add $$$ Value?
Replies: 74
Views: 6931

Re: Do Advisers Add $$$ Value?

Are you speaking of the general population as DIY investor or Boglehead regular posters? I've got relatives that wouldn't know the difference between a 401k vs IRA or what an index fund is. Where CDs and savings accounts is where their extra money goes. For them if they had a good advisor who taugh...
by jfn111
Fri Jun 29, 2018 11:49 am
Forum: Local Chapters and Bogleheads Community
Topic: Post your Financial Milestone Announcements Here
Replies: 551
Views: 64616

Re: Pulled the trigger and paid off the house today

Congratulations! It's a good feeling to be free of home loan debt. :sharebeer
by jfn111
Mon Jun 25, 2018 2:33 pm
Forum: Personal Finance (Not Investing)
Topic: Mortgage pre-approval questions
Replies: 12
Views: 1111

Re: Mortgage pre-approval questions

If your interested in an on-line lender we have had good luck with Quicken Loans. They have been very thorough and we haven't had a deal fall apart, yet, with them. As far as preapproval letters I like to have my buyers get them without a purchase price. I'll usually call the loan officer myself and...
by jfn111
Mon Jun 25, 2018 2:25 pm
Forum: Personal Finance (Not Investing)
Topic: Sudden appearance of multiple buyers real or negotiation tactic?
Replies: 61
Views: 4373

Re: Sudden appearance of multiple buyers real or negotiation tactic?

ResearchMed wrote:
Mon Jun 25, 2018 2:23 pm
Have you considered something like "$X amount over the next highest offer, not to exceed $Y"?
Also to be done with verification if you "win".

RM
Using an escalation clause can be a good strategy. I use these quite often. :beer
by jfn111
Mon Jun 25, 2018 2:14 pm
Forum: Personal Finance (Not Investing)
Topic: Sudden appearance of multiple buyers real or negotiation tactic?
Replies: 61
Views: 4373

Re: Sudden appearance of multiple buyers real or negotiation tactic?

The normal sequence we do- House is listed for $X When an offer comes in we contact every agent that showed the house and let them know we have an offer. If we get a second offer we call best and highest, usually for the next day at 6:00. (We don't want to prolong the process and lose the original ...
by jfn111
Mon Jun 25, 2018 8:01 am
Forum: Personal Finance (Not Investing)
Topic: Sudden appearance of multiple buyers real or negotiation tactic?
Replies: 61
Views: 4373

Re: Sudden appearance of multiple buyers real or negotiation tactic?

The normal sequence we do- House is listed for $X When an offer comes in we contact every agent that showed the house and let them know we have an offer. If we get a second offer we call best and highest, usually for the next day at 6:00. (We don't want to prolong the process and lose the original b...
by jfn111
Thu Jun 14, 2018 8:35 am
Forum: Personal Consumer Issues
Topic: Home Sellers - do you read Buyer inspection reports?
Replies: 25
Views: 2447

Re: Home Sellers - do you read Buyer inspection reports?

I tell my sellers that neither one of us wants to see the report. That said, the buyer will want to negotiate repairs on any serious items and then we are still obligated to disclose, even if the deal falls apart. One of the most common ones is Radon. The Buyer will have the house tested and if the ...
by jfn111
Sat Jun 02, 2018 8:33 am
Forum: Personal Consumer Issues
Topic: Thoughts on Buying a "Flipped" House?
Replies: 27
Views: 3414

Re: Thoughts on Buying a "Flipped" House?

I work with a number of rehabbers and most of them do a good job. The reason they can "buy cheap" is they pay cash. Most people can't write a check for $500,000 for a fixer upper.
A good inspection is a must.