The First World Problem Thread...Voice Your Struggle

Adieu

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With the home prices now, that's got to be a more common issue with financing dropping-out. A house up the street from me just sold in the high $600k's and was probably worth somewhere in the $400k's it listed in the high $500k's. Banks aren't going to fund bidding wars and loan above appraisal.

I'm confused about something: how the hell does a house sell for over asking???

If it's REALLY desirable and underpriced, wouldn't somebody show up immediately and pay cash for asking same day?

And if it DIDN'T sell right away... doesn't that mean that it's NOT that good???
 

Kaura

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I think I found a new addiction, the Monster Java. The thing is chugging two of those a day is as expensive as having 10 beers a day and instead of alcoholism and liver failure you get diabetes. :lol:
 

jaxadam

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With the home prices now, that's got to be a more common issue with financing dropping-out. A house up the street from me just sold in the high $600k's and was probably worth somewhere in the $400k's it listed in the high $500k's. Banks aren't going to fund bidding wars and loan above appraisal.

A house near here sold for $1,440,000 last March. His wife had a stroke so he wanted to move. It just resold for $2,680,000 a week ago. All they did was a new roof and some minor fix-up shit. It is absolutely ridiculous and I’ve never seen anything like this.
 

nightflameauto

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We've gotten offers on our house lately that really make us wonder. And these are cold-call, buy as-is offers from places known in the neighborhood to pay exactly what they say they're gonna pay. It's tempting, but then you're stuck having to move and, more importantly, having to buy another house in this absolutely fuck-everybody, kill the heathens housing market.
 

youngthrasher9

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How does that happen? Two or more people who DON'T have the money, but ask the owner to hold it for them?

Or idiot buyers who walk in to view/negotiate with other buyers (or shills!) present in the room???
Potential buyers get a preapproval for a certain dollar amount that is primarily determined by the bank’s calculation of their debt to income ratio. They then go out with their real estate and view homes they are interested in. If they like it enough, they can put in an offer. Until the loan is finalized and the deed is committed, back up offers can still typically be made in the event that the pending contract fails. Before a contract is signed, the seller can consider any offer before signing a contract. This is where a bidding war starts. If there is offers at different values that’s always considered, and different loan types, closing cost agreements, and contingency’s are often considered. The buyer that gets their contract signed and agreed to by the seller then commits to earnest money which is typically like $500, the title company holds that as “good will deposit” of sorts. If the loan process fails, or the buyer backs out do to a low appraisal, the buyer keeps the earnest money, but if they just change their mind on the contract the seller keeps it as a convenience fee of sorts.

The most common reason a loan fails during underwriting or final approval, are typically to the buyers debt to income ratio increases after the first credit check that happens during the preapproval process (like if they ran their credit card balance up, or got a car loan or some such). The second most common reason is that they falsified intentionally or otherwise their income on the preapproval paperwork. This can happen for a number of reasons. One of which being if a big portion of the income isn’t provable with documents like paystubs, where someone does side work under the table, the other can be something really simple like working a “full time” job where the breadwinner actually doesn’t consistently reach the hours per week they calculated for on the preapproval paperwork.
 

youngthrasher9

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A house near here sold for $1,440,000 last March. His wife had a stroke so he wanted to move. It just resold for $2,680,000 a week ago. All they did was a new roof and some minor fix-up shit. It is absolutely ridiculous and I’ve never seen anything like this.
Now that the money is completely gone I can tell this story.

I bought my home in north Idaho for $165,000 in January of 2020. Did nothing except paint one bedroom and refloor the same room. In October of 2021, I sold it for $265,000.

This house that I’m selling now I only paid $99,000 in BFE Alabama so this one is not going to be as profitable.

I am no real estate expert but I had some dumb luck.
 

thebeesknees22

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Now that the money is completely gone I can tell this story.

I bought my home in north Idaho for $165,000 in January of 2020. Did nothing except paint one bedroom and refloor the same room. In October of 2021, I sold it for $265,000.

This house that I’m selling now I only paid $99,000 in BFE Alabama so this one is not going to be as profitable.

I am no real estate expert but I had some dumb luck.

i've like totally had the opposite luck. I finally save up enough for a down payment one year and then the price jumps $100k out of my range. ...i save up enough another year and it jumps another $70k-$100k out of my range

lol
 

jaxadam

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Now that the money is completely gone I can tell this story.

I bought my home in north Idaho for $165,000 in January of 2020. Did nothing except paint one bedroom and refloor the same room. In October of 2021, I sold it for $265,000.

This house that I’m selling now I only paid $99,000 in BFE Alabama so this one is not going to be as profitable.

I am no real estate expert but I had some dumb luck.

No I hear you man, you didn’t have dumb luck, you had very good market timing.
 

High Plains Drifter

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Jeez, how do you play guitar and not know these things?

Hand cuts need to be hit with iodine tincture then superglue (CA). Anything that isn't a chunk of meat out of it will heal in 24-48 hours... otherwise, it's gonna be a reopening wreck for over a week.

Cuts in places that aren't fingertips can also be sealed with strong clearcoar nailpolish. Same idea, slightly less hard, may be more flexible if it's a good nailpolish

I'd rather bitch about it than actually do something about it, duh
 

LiveOVErdrive

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I think IPAs just fell into the same trap as hot sauces and developed a culture of oneupmanship. Hot sauce consumers and makers each keep needing a hotter one to prove that they've got a bigger dick and IPAs ratchet up the hops/bitterness for the same reason.

I love hot sauces and enjoy that feeling of putting some food in my mouth and immediately regretting every choice in my life that lead up to that moment, but I could care less about the scovilles and I still really want some actual flavor along with the heat.

I wouldn't mind IPAs if they were just one of many options. Sometimes bitter and hoppy is a nice change of pace. It's just that they took over so completely and pushed everything else out. I've had a few experiences lately where I go to a pub and they literally do not have any beers that aren't IPAs.
That's totally it. The minute they introduced IBUs to measure bitterness, there was a number to game.
 

KnightBrolaire

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The couch in my gear room is fucking hideous (i got it for free when I first bought the place), so that needs to be kicked to the curb asap. Unfortunately there is no curb right now. I'm pretty sure no one is going to want it either, so then I'd have to chop the damn thing up and drag it chunk by chunk to the dump.
 

thebeesknees22

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The couch in my gear room is fucking hideous (i got it for free when I first bought the place), so that needs to be kicked to the curb asap. Unfortunately there is no curb right now. I'm pretty sure no one is going to want it either, so then I'd have to chop the damn thing up and drag it chunk by chunk to the dump.
if the cushions are good you can have it re-upholstered. Not sure how expensive that is though. 🤔
 

BlackMastodon

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I think I found a new addiction, the Monster Java. The thing is chugging two of those a day is as expensive as having 10 beers a day and instead of alcoholism and liver failure you get diabetes. :lol:
Tried one of these for the first time last week and never again. It tastes like someone poured paint thinner into shirt coffee. I'd rather just get another flavour of Monster or an iced coffee.
 

LiveOVErdrive

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The couch in my gear room is fucking hideous (i got it for free when I first bought the place), so that needs to be kicked to the curb asap. Unfortunately there is no curb right now. I'm pretty sure no one is going to want it either, so then I'd have to chop the damn thing up and drag it chunk by chunk to the dump.
Its remarkable what people will take for free if you post them to craigslist or a local buy-nothing group on facebook.
 


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