Search found 1223 matches

by jfn111
Fri Sep 04, 2020 3:22 pm
Forum: Personal Finance (Not Investing)
Topic: Exterior only appraisals
Replies: 6
Views: 566

Re: Exterior only appraisals

Wells Fargo was one that was doing "drive by" appraisals but that can change at any time. Whether or not we think it's wise the country is getting back to work. I did an interior appraisal measurements and photographs today. The client today was wearing a mask which has been rare.
by jfn111
Sat Aug 29, 2020 8:36 am
Forum: Personal Finance (Not Investing)
Topic: ‘Play money’ invested by Dad growing huge - what would you do?
Replies: 109
Views: 15691

Re: ‘Play money’ invested by Dad growing huge - what would you do?

gmc4h232 wrote: Sat Aug 29, 2020 7:10 am Sell everything, pay off debt. Keep 100k in cash and tell old dad to work his magic again.
+1
by jfn111
Fri Aug 28, 2020 8:58 pm
Forum: Personal Consumer Issues
Topic: safely selling used portable generators
Replies: 24
Views: 1160

Re: safely selling used portable generators

This strikes me as one of those issues that only the Bogleheads can dream up. Has this ever happened before? Anyone can sue anyone for anything. Now winning that lawsuit, that’s a different matter. Like others have mentioned, how is this any different than someone claiming a used lawnmower chopped ...
by jfn111
Mon Aug 24, 2020 11:58 am
Forum: Personal Finance (Not Investing)
Topic: Incorrect home history information, what to do?
Replies: 12
Views: 930

Re: Incorrect home history information, what to do?

If it was refinanced with a new mortgage Zillow might pick it up as being sold?
by jfn111
Thu Aug 20, 2020 1:36 pm
Forum: Personal Finance (Not Investing)
Topic: how often do you check your net worth?
Replies: 153
Views: 9956

Re: how often do you check your net worth?

I track my balances monthly. I use the Fidelity aggregator to give me a snapshot.
by jfn111
Thu Aug 20, 2020 1:11 pm
Forum: Personal Finance (Not Investing)
Topic: Am I entitled to bring in my own real estate agent after a showing by the listing agent?
Replies: 39
Views: 3534

Re: Am I entitled to bring in my own real estate agent after a showing by the listing agent?

If I call the listing agent for a house just to see it, am I entitled to later bring in another agent to represent me if I want to make an offer? Can the listing agent insist they want to be the only agent involved? Also, more specifically, if a listing agent shows me a house, could I, for example,...
by jfn111
Wed Aug 19, 2020 7:51 pm
Forum: Personal Finance (Not Investing)
Topic: Am I entitled to bring in my own real estate agent after a showing by the listing agent?
Replies: 39
Views: 3534

Re: Am I entitled to bring in my own real estate agent after a showing by the listing agent?

If I call the listing agent for a house just to see it, am I entitled to later bring in another agent to represent me if I want to make an offer? Can the listing agent insist they want to be the only agent involved? Also, more specifically, if a listing agent shows me a house, could I, for example,...
by jfn111
Wed Aug 19, 2020 7:38 pm
Forum: Personal Finance (Not Investing)
Topic: Am I entitled to bring in my own real estate agent after a showing by the listing agent?
Replies: 39
Views: 3534

Re: Am I entitled to bring in my own real estate agent after a showing by the listing agent?

Whenever attending an open house or listing, you should state that you are already represented. And if they make you “sign in” on a visitor log, you should also write that you are already represented. For any realtors on this board, why do agents ask people to sign-in to the log? I assume that agen...
by jfn111
Wed Aug 19, 2020 6:19 pm
Forum: Personal Finance (Not Investing)
Topic: Am I entitled to bring in my own real estate agent after a showing by the listing agent?
Replies: 39
Views: 3534

Re: Am I entitled to bring in my own real estate agent after a showing by the listing agent?

You can do whatever you want if you didn't sign a buyer rep agreement. The listing agent may deny paying the other agent any commission if they feel they were the procuring cause of you buying the property. Now....the tricky part. If you sign the buyer rep agreement with the new agent you brought in...
by jfn111
Tue Aug 18, 2020 11:22 am
Forum: Investing - Theory, News & General
Topic: When should one share financials with their children?
Replies: 205
Views: 13447

Re: When should one share financials with their children?

I gave my 38 year old daughter a detailed list of where our accounts are in case we get hit by a bus. I didn't give her balances. I didn't want her to have to go on a scavenger hunt looking for our assets.
by jfn111
Sun Aug 16, 2020 8:10 pm
Forum: Personal Finance (Not Investing)
Topic: Home Appraisal in the times of COVID
Replies: 20
Views: 2105

Re: Home Appraisal in the times of COVID

I do the appraisal in home photo's and measurements for local banks and Fannie Mae. (I do this thru a 3rd party company). I usually run into the opposite of your concerns. The homeowner and family don't wear masks and want to follow me around asking questions. :shock: If you turn on all the lights a...
by jfn111
Fri Aug 14, 2020 6:56 am
Forum: Personal Finance (Not Investing)
Topic: Real estate agent - breach of fiduciary duty
Replies: 27
Views: 3168

Re: Real estate agent - breach of fiduciary duty

We believe our real estate agent has breached their fiduciary duty multiple times: 1- include our personal names in an email to the other party's agent without permission- Your names are on all contracts you signed for the sale? 2- gave the buyer my personal email address without permission (he wen...
by jfn111
Sun Jul 26, 2020 2:50 pm
Forum: Personal Finance (Not Investing)
Topic: Driveway On Neighbor's Land
Replies: 139
Views: 4759

Re: Land Border Issues & Aggressive Neighbor - Help Wanted Please

As others have said start by calling your Title Insurance company. That's what you paid them for.
by jfn111
Sun Jul 26, 2020 7:26 am
Forum: Personal Consumer Issues
Topic: Coins
Replies: 28
Views: 2771

Re: Coins

I enjoy collecting coins. Not everything in life has to be a financial investment with a 4% return. There are many coin forums out there. One to possibly start with- https://www.cointalk.com/forums/coin-chat/
by jfn111
Thu Jul 23, 2020 8:58 pm
Forum: Personal Finance (Not Investing)
Topic: Financial pros/cons of single storey v/s 2-storey
Replies: 12
Views: 1215

Re: Financial pros/cons of single storey v/s 2-storey

That's a tough question because it's geographically specific. Are you the only 2 story in a sea of ramblers? Are you the only 1 story among mega mansions? One stories in our most expensive suburbs are being sold as tear downs to build bigger houses.
by jfn111
Thu Jul 23, 2020 8:53 pm
Forum: Personal Finance (Not Investing)
Topic: Getting homeowner's insurance for new house - they want a copy of inspection report
Replies: 21
Views: 1850

Re: Getting homeowner's insurance for new house - they want a copy of inspection report

I've never heard of any of my clients being asked for the Inspection report. What happens if you waived inspection?
by jfn111
Thu Jul 23, 2020 7:47 am
Forum: Personal Consumer Issues
Topic: Who's tested for Radon? Who's mitigated?
Replies: 29
Views: 2004

Re: Who's tested for Radon? Who's mitigated?

Here in MN when I represent buyers we usually test for radon. It's about 40% where the readings come in over .4. Mitigation systems are relatively cheap, and the seller has to disclose if a test has been done, so we usually don't have a problem getting a system installed.
by jfn111
Thu Jul 16, 2020 9:24 pm
Forum: Personal Consumer Issues
Topic: Oddly Difficult to Find Items During the Pandemic
Replies: 307
Views: 29203

Re: Oddly Difficult to Find Items During the Pandemic

Chicken Gumbo Soup. We use it for our sloppy joes and the grocery stores around here have been out for months. (Apparently Campbell's has been only producing their top sellers.)
by jfn111
Fri Jul 10, 2020 6:37 am
Forum: Personal Finance (Not Investing)
Topic: Where do you keep your money for quarterly estimated tax payments?
Replies: 57
Views: 4202

Re: Where do you keep your money for quarterly estimated tax payments?

I like to keep it simple so I have both a Savings account and a checking account setup with my credit union. I keep the tax money in the savings account and transfer to checking when the payment is due.
by jfn111
Wed Jul 08, 2020 9:09 pm
Forum: Personal Consumer Issues
Topic: Buying house without realtors
Replies: 84
Views: 5217

Re: Buying house without realtors

I have both bought a home and sold a home without a real estate agent involved. I've also bought and sold two other homes using them so I know the difference. I truly lol at some of the responses on this thread which are clearly from realtors or "friends" of realtors. One of the reasons I...
by jfn111
Wed Jul 08, 2020 6:28 pm
Forum: Personal Finance (Not Investing)
Topic: Buying house from parents
Replies: 23
Views: 2231

Re: Buying house from parents

I'm not understanding what your doing? A quitclaim deed transfers their ownership immediately to you. A contract for deed protects them if you don't pay.
It would be simpler to get a mortgage and buy them out, unless they don't need the money and would prefer monthly payments.
by jfn111
Wed Jul 08, 2020 6:17 pm
Forum: Personal Consumer Issues
Topic: Replace Fence- Selling House
Replies: 13
Views: 835

Re: Replace Fence- Selling House

Others might feel different, but I’d not fool around, and would just follow the realtor’s advice at a minimum. Realtor want to sell the house fast to get their commission as soon as possible so of course they will tell you to do all this work in the hopes it does. Still, you should tear down an ugl...
by jfn111
Wed Jul 08, 2020 4:11 pm
Forum: Personal Consumer Issues
Topic: Replace Fence- Selling House
Replies: 13
Views: 835

Re: Replace Fence- Selling House

Others might feel different, but I’d not fool around, and would just follow the realtor’s advice at a minimum. Realtor want to sell the house fast to get their commission as soon as possible so of course they will tell you to do all this work in the hopes it does. Still, you should tear down an ugl...
by jfn111
Sat Jul 04, 2020 7:32 am
Forum: Personal Finance (Not Investing)
Topic: Lender is asking for 5 months of Property Taxes and Homeowner's Insurance. Is this normal?
Replies: 28
Views: 3133

Re: Lender is asking for 5 months of Property Taxes and Homeowner's Insurance. Is this normal?

If the seller already paid in advance for the next 5 months of property taxes and insurance, then you are not going to get that for free. You gotta pay for it yourself. Livesoft is correct. All of our RE contracts state that taxes will be prorated. If the seller, like me, pays the full year up fron...
by jfn111
Fri Jul 03, 2020 11:14 am
Forum: Personal Consumer Issues
Topic: Buying house without realtors
Replies: 84
Views: 5217

Re: Buying house without realtors

Buying a house without a Realtor is pretty straight forward. Settle on a price, get an inspection, negotiate repairs and then close. Selling without a Realtor is iffy. I'm working in a low inventory slightly crazy market. It's common for houses to go $10's of thousands over asking price. How is the ...
by jfn111
Tue Jun 30, 2020 8:58 pm
Forum: Personal Consumer Issues
Topic: Dual Monitor Stand
Replies: 9
Views: 864

Re: Dual Monitor Stand

Thank you both for the suggestions. :sharebeer
by jfn111
Tue Jun 30, 2020 9:29 am
Forum: Personal Consumer Issues
Topic: Dual Monitor Stand
Replies: 9
Views: 864

Re: Dual Monitor Stand

My favorite is the Ergotron LX dual side-by-side arm. It is expensive though. You'd have to examine the mounting options. https://store.ergotron.com/lx-dual-side-by-side-arm-config.html?gclid=CjwKCAjwxev3BRBBEiwAiB_PWG0GGioVM3kSAXjmvFmtRC7rW0_S3yC84ZeslU6FP4vZ9m84flKEjxoCfPYQAvD_BwE That does look ...
by jfn111
Tue Jun 30, 2020 6:48 am
Forum: Personal Consumer Issues
Topic: Dual Monitor Stand
Replies: 9
Views: 864

Dual Monitor Stand

Does anyone use a dual monitor stand that they can recommend? I have been reading Amazon reviews and half the people love, a particular stand, and half think it's junk. Because of the configuration of my 3 piece corner desk I need one that uses the grommet installation rather than the pressure screw...
by jfn111
Sat Jun 27, 2020 9:49 pm
Forum: Personal Finance (Not Investing)
Topic: Seller did not make agreed upon repairs; closing in 2 days
Replies: 55
Views: 5923

Re: Seller did not make agreed upon repairs; closing in 2 days

You have 2 options, refuse to close because the repairs were not made or close and accept the property as-is. You of course can try to finesse something in between but the bottom line is go, no go. So you think option #2 in my original post will never fly? That's the finesse part. The options are t...
by jfn111
Sat Jun 27, 2020 9:35 pm
Forum: Personal Finance (Not Investing)
Topic: Seller did not make agreed upon repairs; closing in 2 days
Replies: 55
Views: 5923

Re: Seller did not make agreed upon repairs; closing in 2 days

You have 2 options, refuse to close because the repairs were not made or close and accept the property as-is. You of course can try to finesse something in between but the bottom line is go, no go.
by jfn111
Tue Jun 23, 2020 9:49 am
Forum: Personal Finance (Not Investing)
Topic: How do people sell a house and buy one at the same time?
Replies: 46
Views: 5637

Re: How do people sell a house and buy one at the same time?

What most people do, in my market, is list their house and start aggressively looking for a new house. You can make an offer on the new house contingent on the sale of your existing Co-op. Warning, sellers don't like open ended contingencies. Once you have your Co-op under contract then you can make...
by jfn111
Tue Jun 23, 2020 8:47 am
Forum: Personal Finance (Not Investing)
Topic: Real estate closing - what time of day of closing does ownership transfer?
Replies: 31
Views: 1730

Re: Real estate closing - what time of day of closing does ownership transfer?

In MN possession occurs immediately after closing unless other arrangements have been made IN WRITING. We have a lot of simultaneous closings where the buyers are both selling and buying. They have to be out of their old house so the moving truck is sitting in front of the new house waiting to unload.
by jfn111
Sat Jun 20, 2020 9:00 pm
Forum: Personal Consumer Issues
Topic: Sellers agent not letting me view property without preapproval or "proof of finances"
Replies: 189
Views: 10728

Re: Sellers agent not letting me view property without preapproval or "proof of finances"

The simple answer is Sellers can do whatever they want. I received a call today from a client that wanted to view a house. The agent remarks stated that any offers had to include a pre-approval letter from their chosen lender. I asked the client if he really wanted to go through the hassle if havin...
by jfn111
Sat Jun 20, 2020 3:22 pm
Forum: Personal Consumer Issues
Topic: Sellers agent not letting me view property without preapproval or "proof of finances"
Replies: 189
Views: 10728

Re: Sellers agent not letting me view property without preapproval or "proof of finances"

The simple answer is Sellers can do whatever they want. I received a call today from a client that wanted to view a house. The agent remarks stated that any offers had to include a pre-approval letter from their chosen lender. I asked the client if he really wanted to go through the hassle if having...
by jfn111
Thu Jun 18, 2020 9:51 pm
Forum: Personal Consumer Issues
Topic: Sellers agent not letting me view property without preapproval or "proof of finances"
Replies: 189
Views: 10728

Re: Sellers agent not letting me view property without preapproval or "proof of finances"

Bogle_Bro wrote: Thu Jun 18, 2020 6:42 pm I wouldn't waste my time showing my house to someone who didn't have atleast a prequal letter. This is usually step one for serious home buying.

If I was a broker or agent, or wouldn't take on a client who was unwilling to get prequalified upfront
+1
by jfn111
Wed Jun 17, 2020 10:24 pm
Forum: Personal Finance (Not Investing)
Topic: Buying house w/ income "issue"
Replies: 16
Views: 2232

Re: Buying house w/ income "issue"

Prior to this Covid outbreak I had a lot of lenders that liked to come to closings. We don't normally use Lawyers in MN so the closing table was buyers, sellers, their receptive title people, both agents and the buyers lender. Quite the party. :sharebeer
by jfn111
Mon Jun 08, 2020 12:37 pm
Forum: Personal Finance (Not Investing)
Topic: Purchasing Foreclosing Home
Replies: 12
Views: 1089

Re: Purchasing Foreclosing Home

I wanted to add one more thing- When the foreclosure has gone through the process and the bank is selling a vacant house that they have title to the process, at least in MN, is no different than any other sale. You put an offer in and they accept, decline or counter. You can do an inspection but the...
by jfn111
Mon Jun 08, 2020 6:46 am
Forum: Personal Finance (Not Investing)
Topic: Purchasing Foreclosing Home
Replies: 12
Views: 1089

Re: Purchasing Foreclosing Home

The rules vary by State but in MN we are seeing more banks that are sending foreclosed properties to the auctions that are still in the statutory redemption period. The 6 month redemption period starts after the sheriffs sale and if you buy one of these houses you can't evict the occupants until aft...
by jfn111
Sun May 31, 2020 9:26 am
Forum: Personal Finance (Not Investing)
Topic: Best resources for first time home buying
Replies: 2
Views: 295

Re: Best resources for first time home buying

Most major cities have first time home buyer classes. These classes are often required for certain State and Federal grants and loans. In Mn it's called Home Stretch. https://www.hocmn.org/search-workshops/
I have had a number of clients who attended these classes and found the information helpful.
by jfn111
Sat May 16, 2020 8:37 am
Forum: Personal Finance (Not Investing)
Topic: Selling home - low ball negotiation
Replies: 145
Views: 12815

Re: Selling home - low ball negotiation

We have been selling a lot of AB&B properties the last couple of months for our investor clients. We always require an AS-IS addendum. The AS-IS addendum doesn't mean the buyer can't have an inspection and ask for repairs. My clients want the addendum so they aren't getting phone calls 6 months ...
by jfn111
Tue Apr 28, 2020 3:55 pm
Forum: Personal Finance (Not Investing)
Topic: Recommendations for Mortgage company for Daughter
Replies: 12
Views: 1005

Re: Recommendations for Mortgage company for Daughter

This is somewhat market specific-
In my market the 3 most reliable are Bell Bank, Alerus Financial and Leader1.
Honorable mention -Wells Fargo has gotten better and Bank of America has a good product for low income census tracts.
by jfn111
Tue Apr 14, 2020 8:46 am
Forum: Investing - Theory, News & General
Topic: Airbnb getting hit?
Replies: 54
Views: 6036

Re: Airbnb getting hit?

One of my larger customers owns, manages, 20+ ABNBs. He had us list 7 of his properties because business had gone to zero and he needed some cash reserves. 2 of the listings we pulled because he found some longer term renters for them. The other 5 are under contract with closings starting next Monda...
by jfn111
Mon Apr 13, 2020 12:21 pm
Forum: Personal Finance (Not Investing)
Topic: Quarterly Taxes
Replies: 43
Views: 2658

Re: Quarterly Taxes

Just curious as to what most peoples strategy is for paying their quarterly taxes this year? I know both the Fed and the State have now extended the payment period to July 15th but I'm sticking to the old schedule. Maybe it's all psychological but I feel less stressed writing a couple of smaller ch...
by jfn111
Sun Apr 12, 2020 8:34 am
Forum: Personal Finance (Not Investing)
Topic: Quarterly Taxes
Replies: 43
Views: 2658

Quarterly Taxes

Just curious as to what most peoples strategy is for paying their quarterly taxes this year? I know both the Fed and the State have now extended the payment period to July 15th but I'm sticking to the old schedule. Maybe it's all psychological but I feel less stressed writing a couple of smaller che...
by jfn111
Wed Apr 08, 2020 6:42 am
Forum: Personal Finance (Not Investing)
Topic: Reducing home buying price due to coronavirus uncertainty?
Replies: 49
Views: 4215

Re: Reducing home buying price due to coronavirus uncertainty?

In the Twin Cities market the under $350,000 houses are still going strong. These would be considered starter homes.The over $350,000 market is slowing dramatically. Executive relocation's have slowed way down and move up buyers, which involve two transactions, are sitting out until things settle do...
by jfn111
Fri Apr 03, 2020 6:31 am
Forum: Personal Finance (Not Investing)
Topic: Buy a house now or wait?
Replies: 42
Views: 3203

Re: Buy a house now or wait?

Real estate is local but in my market- Air BNB is dead because nobody's traveling. The properties are still there so you should be able to negotiate a great rate. The lower price point houses are still selling. We put 6 former Air BNB's on the market in the last two weeks and have sold four of them....
by jfn111
Sat Mar 28, 2020 7:00 am
Forum: US Chapters
Topic: How Is Your Job Being Impacted By The Current Crisis?
Replies: 505
Views: 56536

Re: How Is Your Job Being Impacted By The Current Crisis?

The real estate market is starting to slow down. I have one showing this morning and nothing else scheduled for the rest of the weekend. I do appraisal measurements and photos for several banks where most of the business is from PMI elimination and HELOC loans. The orders are still coming in but it'...
by jfn111
Sat Mar 21, 2020 3:13 pm
Forum: Personal Finance (Not Investing)
Topic: Buying house process: mortgage payment question
Replies: 6
Views: 537

Re: Buying house process: mortgage payment question

phxjcc wrote: Sat Mar 21, 2020 1:06 pm I have never seen a payment contingency.

I have seen interest rate contingencies, so go with that.
+1, I've never seen a payment contingency either. (That doesn't mean you couldn't write one.)
by jfn111
Sun Mar 15, 2020 7:46 am
Forum: Personal Finance (Not Investing)
Topic: Closing On A House Sale During A Pandemic
Replies: 22
Views: 2963

Re: Closing On A House Sale During A Pandemic

So we sold our house last November with a long closing scheduled for May 1st. The long closing worked for both parties and I did not check off the global pandemic box on the list of possible outcomes. All contingencies have been met (inspection, mortgage). I live near one of the largest outbreaks i...
by jfn111
Thu Mar 12, 2020 8:30 am
Forum: Personal Investments
Topic: How much you lost/gain since Feb 20,2020 ?
Replies: 366
Views: 32908

Re: How much you lost/gain since Feb 20,2020 ?

Ramjet wrote: Thu Mar 12, 2020 7:24 am
jfn111 wrote: Thu Mar 12, 2020 6:22 am -5.8% 40/60 AA
How much international stock is part of the 40?
No international.