I could cry..

I

imported_chewy

New member
Been house hunting for a bit now and just viewed a home (more the garage really) that I fell in love with. Had an attached two car garage that had extra shop space. The floor had two drains--one in the middle of each parking space. Also had a good sized stainless steel sink with hot and cold, as well as a spigot next to it. Plenty of room for a good sized work bench and tons of storage. I just stood in the middle of it and day dreamed of washing the cars anytime I wanted.



The rest of the house was really nice--four bedrooms and two baths and hardwood floors throughout. Basement has fireplace and also an indoor wood/charcoal grill with exhaust fan. In addtion--guy who built the home in the 50's must have liked to party--has a 12' wet bar. Current owner leaving 10 oak bar stools.



Bad news--house in area that would turn our commutes to 1-1 /2 hours each way. Second issue--house has oil heat and they buried the tank in front yard. Owner thinks it is leaking and to remove and take care of contamination could take big bucks. Had to cross it off our list and I am still weeping...:(
 
If you like the house I mean garage I wouldn't write it off yet. I had a house with a oil tank that leaked , not that big of a deal to clean up. If their is natural gas on the street it would be easier to convert over. Offer the guy 10,000 less then he wants , if he takes use half of the money to have the tank removed and run the new natural gas lines , as far as oil in the soil , depending how much is their it just a matter of dumping some sand and concrete into the hole. Happy house hunting....
 
The realtor we are working with said we would be obligated by the borough to have all of the contamination removed. I had considered making an offer contingent upon having the owner remove the tank and take care of any problems.



The other issue is the commute. My wife really wants to be closer to her work. The problem is that the other areas we are looking in have few garages with the homes.



I really do not want to give up getting a garage. I have never had one and its just time to have the convenience to detail!



Thanks for the support and advice:xyxthumbs
 
chewy said:


The other issue is the commute. My wife really wants to be closer to her work. The problem is that the other areas we are looking in have few garages with the homes.





Thanks for the support and advice:xyxthumbs
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How far are your commutes now? I drive +/- 50 minutes, no garage. I hate the commute and the miles on my car. I plan to buy a home closer to work ASAP. I have a big dilemma. I don't want a condo or TH with a parking lot:scared . But a single family or garage adds big $$ to the price. I hope to find a place with at least a driveway. I have found one house, close to work, I can afford, with a garage, but they will not allow a home inspection.:nono



1-1/2 hours each way, make sure you don't mind the lost time or miles.
 
Posted by Chewy...

Bad news--house in area that would turn our commutes to 1-1 /2 hours each way. Second issue--house has oil heat and they buried the tank in front yard. Owner thinks it is leaking and to remove and take care of contamination could take big bucks. Had to cross it off our list and I am still weeping...
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If this house was in Massachusetts, the homeowner would have to have the oil tank removed prior to selling the house. Permits would have to be obtained from the Department of Environmental Protection and the local fire department. The tank has to be removed by a licensed specialist, who must make sure the tank is drained and the atmosphere inside the tank inerted then sealed. The tank removal gets a fire department incident number and the FD has to be present when the tank is pulled to check for contamination. If contamination is found, then DEP must be notified and a licensed hazardous materials cleanup company has to be contratced by the homeowner to remove the contamiated soil. The tank must be taken to a licensed tank disposal facility.



the homeowners insurance policy may cover this expense



Posted by detailbarn

Offer the guy 10,000 less then he wants , if he takes use half of the money to have the tank removed and run the new natural gas lines , as far as oil in the soil , depending how much is their is it's just a matter of dumping some sand and concrete into the hole.
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All of the contaminated soil has to be removed, otherwise, any remaining product can contaminate ground water. If the home is dependent on well water or is located in an area of a aquifer, the environmental impact can be costly and devastating. There was one incident in my community where a 275 gallon underground tank leaked...cleanup costs for the tank removal and decontamination exceeded $30K
 
Bluto:



My commute now is 15 minutes--I am the lucky one (at least for know). My wife's is about 40 minutes. She is a mobile therapist working with autistic children--so she does a lot of driving and does not want to add much more than what she has now. I should point out that my commute is so short since I am on the road at 6:00am. I shoot down the interstate at 75+mph and can be at work pretty quick. If I went at rush hour--add another 20-30 minutes to mine.



We may end up in TH--but not one that has a parking lot or parking in front--I want a garage and some yard. Really want a single family home since we've been living in an apartment for 12+ years. I would be very leary of an owner who does not agree to a home inspection. Good luck selling that house--unless he is in a very desirable neighborhood--why risk it? Our realtor told us he was working with three couples who were all trying to get into the same area--400-500"s homes with great school. The market was so hot that these folks were waving home inspections and risking deposits--just too crazy!



Gonzo:



I spoke more with my realtor and what you outlined is pretty much what would have to be done to take care of a leaking tank. The realtor said the contaminated ground has be removed and has to sit out for some six months before it is hauled away to some approved dump.



I am trying to find out if the home owner is responsible for this prior to selling the home. As I said before, I would want the home owner to deal with this. Even if he were to take more money off the house would still leave me wondering how much it would ultimately cost me. If the tank has been leaking for some time and you have a massive area to clean--the amount could be staggering.



I thought looking for a home would be fun--where is the fun?? Are we having fun yet??? I know it is a process and we will eventually find something we like.



Thanks for all the advice!
 
chewy said:
Been house hunting for a bit now and just viewed a home (more the garage really) that I fell in love with. ........
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I hear you! I was looking for 4 things: 2 car garage, 2 car wide driveway, a full basement and some resemblance of a house attached. :D My wife kept muttering things about bedrooms, bathrooms, decks/patios, kitchens, hardwood floors, remodeling and school districts. :eek:



We have been house hunting since June and have finally zero-ed in on one that has most of what "we" wanted, for a price we could "afford."

-hot tub :up

-full basement, half finished off w/ fireplace and half shop w/ washer/dryer :up

-single width driveway to single carport :down

-extra concrete pad on the side for 2nd car parking :nixweiss

Everything else is relative and I'm sure it will get the job done.
 
bme107:



Good for you and congratulations! Sorry you had to give up on the garage--but sounds like you have room to build one. My wife keeps telling me this and I reply--gee, where will that money come from??



I can't complain--anything to get out of an apartment and have my own place to detail--garage or not. I too want a full basement or even a partial one. Like you, I scan the garage and basement scene first and then look at the other requirements.



If I can land a two car garage and full basement, I don't care about much else--guess that's why I got married--to "balance things out!"
 
chewy said:
Bluto:



My commute now is 15 minutes--I am the lucky one (at least for know). My wife's is about 40 minutes. She is a mobile therapist working with autistic children--so she does a lot of driving and does not want to add much more than what she has now. I should point out that my commute is so short since I am on the road at 6:00am. I shoot down the interstate at 75+mph and can be at work pretty quick. If I went at rush hour--add another 20-30 minutes to mine.



We may end up in TH--but not one that has a parking lot or parking in front--I want a garage and some yard. Really want a single family home since we've been living in an apartment for 12+ years. I would be very leary of an owner who does not agree to a home inspection. Good luck selling that house--unless he is in a very desirable neighborhood--why risk it? Our realtor told us he was working with three couples who were all trying to get into the same area--400-500"s homes with great school. The market was so hot that these folks were waving home inspections and risking deposits--just too crazy!
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I've found a 1900 sqft TH with a garage, gas heat, 5 miles from work, no interstate driving. The house/neighborhood is nothing fancy. The owners are asking 220k. I checked the public records, 3.5 years ago the owners paid 130k new (that is about 15% growth/month). Other homes on the same street have sold for 180-210 the past year, increasing by date. Low interest rates and high demand. What is a first time buyer to do :nixweiss
 
Bluto said:
What is a first time buyer to do :nixweiss
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You've have to take the plunge and it appears there is no better time than the present. That's what chewy and I are doing, both 1st timers. You don't have your location tag filled, so I can't judge housing prices. The price and amenities you describe would catch my eye in MD, just north of D.C. Homes here are following that amount of $$ increase per year. Friends and co-workers that got in the market 1-2 years ago can't believe the amount their houses have appreciated. Some admit that they couldn't even buy their own house if they were currently shopping.



It's got a garage, how far wrong can you go? ;)
 
yeah, it's sick how much prices have gone up. The biggest fear of buying now is getting into a place and having the market take a tumble and seeing your home value drop. I am at the point that I can't try to wait it out and hope prices drop. If they do--most likely the interest rates will go up.



I am going out this weekend to see three different homes--all have a one car garage and basement. Ran across another that a guy put in a detached three car garage and workshop--believe it measure 40'x50'. I was drooling--only problem is it only had one bathroom (the house that is!!). Never had less than two--so it is not at the top of the list. May view it to see if another bathroom could be put in.



Bluto--that's a good sized TH and with a garage not a bad deal (in this market--that is)--about what I am seing in my area as well. I came across some brand new TH's for $229,000 that had three bathroom/three bath's and 2355sq--BUT--no garage. Not putting down that type of $$ and not having a garage!



Good luck to you both and happy hunting!:xyxthumbs
 
bme107 said:
You've have to take the plunge and it appears there is no better time than the present. That's what chewy and I are doing, both 1st timers. You don't have your location tag filled, so I can't judge housing prices. The price and amenities you describe would catch my eye in MD, just north of D.C. Homes here are following that amount of $$ increase per year. Friends and co-workers that got in the market 1-2 years ago can't believe the amount their houses have appreciated. Some admit that they couldn't even buy their own house if they were currently shopping.



It's got a garage, how far wrong can you go? ;)
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bme107



Right on with the area, fixed my profile. I'm looking around Howard and surrounding counties. But, not in Columbia.



I look at it this way: Pay an inflated price now at a low rate, or, wait and pay the value at a high rate. Tax benefits even out either way.



It is an owners market - Sell what you got high, then buy bigger. I'm trying to avoid sellers with less than 5-10 years equity. They need to get the most money out of their sale (so forget any assistance or help from the seller). Over the past year I've followed several properties listed at outrageous prices. They don't sell. Pure greed (but hey, more power to them).



This site has property records for any address in MD. Very usefull tool. I save listings I like, then see if/how much they sold for.



http://sdatcert3.resiusa.org/rp_rewrite/



A 'Street Address' search gives the most information. 'Property Sales' can give you an idea what homes in a neighborhood or street are selling for.



chewy



A garage (or space to build one) is almost a requirement. I would kick mysef down the road for not getting one.
 
bluto, Thanks for the site.



I'm not sure I follow your reasoning about sellers w/ less than 5-10yrs equity. Because it's a seller's market, and greed is the name of the game these days, they can charge whatever they want, pass over offers from buyers with shorter credit histories (1st timers), avoid home inspections etc., and avoid crediting buyers for closing costs if they wish to finance them. All to make an extra buck with as little paperwork as possible, even if it means waiting an extra day or 2 to sell. I don't see how it matters if they've been in the house 2 yrs or 20. You're thoughts.......



Back in June we were quoted that average time on the market is 4 days in Montgomery Co. With all the paperwork shuffle I don't see how you could close any faster than 2 business days, so 4 is pretty quick compared to the rest of the country where the wait is weeks or months.
 
bme107 said:
bluto, Thanks for the site.



I'm not sure I follow your reasoning about sellers w/ less than 5-10yrs equity. Because it's a seller's market, and greed is the name of the game these days, they can charge whatever they want, pass over offers from buyers with shorter credit histories (1st timers), avoid home inspections etc., and avoid crediting buyers for closing costs if they wish to finance them. All to make an extra buck with as little paperwork as possible, even if it means waiting an extra day or 2 to sell. I don't see how it matters if they've been in the house 2 yrs or 20. You're thoughts.......
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If you have a lot of equity, closing cost are rather small/insignificant in the big picture.



For a 1st time buyer or someone with little equity, closing cost can cut into your downpayment.



If the seller's only motivation to sell is the market, good luck. They don't need to sell, just find a buyer willing to pay. I've seen nice listings in Howard County on the market for 6 months and never sell. It is always someone who bought the place a few years ago, and have relatively high price. If you can't sell in a month, you're asking too much. Maybe the market is slowing down





My friends and family who have recently purchased homes bought from sellers with equity or a builder.



I just got pre-qualified, guess I need to call my realtor and get ready for the 4 day stuff. I'm sure a lot places are sold before the listings are even printed.
 
chewy said:


Second issue--house has oil heat and they buried the tank in front yard. Owner thinks it is leaking and to remove and take care of contamination could take big bucks. Had to cross it off our list and I am still weeping...:(
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Some advice..., Leaking oil tank?.......Run, dont walk, RUN away! A leaking oil tank is very very serious. You have no idea what you could be in for. Enviornmental clean up costs can be astronomical. Imagine if the leak seeped its way into your neighbors property or water table/well. You'll be paying for his lanscaping and who knows what else, and never mind the cost for carting away contaminated soil. You certianly did the right thing!!!
 
No one likes to here it, but we are surely at the top of the housing cycle. It may last another 6 months to a year because of the slow economy, but it will end. After it ends, and interest rates have gone higher (high interest rates usually end high side of cycle), you will see the house prices start to drop.

It is typically a 10 to 12 year cycle.



An example of this is someone that bought a house in 91 for 180k. They sold in 96 for 140K. That same house today has a value of 195k to 205k. Almost full circle.



The person that bought in 96 has the present equity, and had a lower morgage for the same house.



If you can hold off for just a few more years, save tons for a bigger down stroke, the lower cost of the house, and the bigger down payment, will more than make up for the difference in interest rates, and you will have sort of chance at really having some equity of your own.



Just my $.02 worth

Good Luck

ryeh2o
 
I too am a first time home buyer looking for a home. I commute about 60 miles to the Philly suburbs so the housing market where I'm looking isn't so heated. A lot of nice properties do last a fair amount of time. I found a newly built 2800 sf/4BR/4Bath/2 Car Garage on a 1 acre lot for 250k. I know I can make the payments, I just don't know if I want to. It's definitely a house to grow into. I'm just getting married in June and we're trying to find a house before then.



I agree with the poster who said he thought this was supposed to be fun. I've found it to be not even close to fun!
 
Remember all this is relative to the market you're in. I've spoken to many relators in Metro DC that say yes the market fluctuates but manly it just spikes up and plateaus, spikes up and plateaus, in this area. Never really falling off. Of course this is different for your home town.



We close on 2/27/03 and by 2/27/08 I'll probably be eating those words. :D
 
I've been house hunting for nearly a year and am a nervous wreck!!! I thought it would be fun, but it has been agonizing sometimes. Used homes are too small, or if I find one I like, it only has a 1 car attached garage, or there's no dining room, etc. The new ones that are affordable are in the next county over which would add 50 miles (round trip) a day to my commute! Right now I'm only 6 miles from work and want to keep it that way.



The good news is a house I wanted last year but I was beaten to the punch on has become available again! (The seller had taken it off the market when he decided to stay - but now he called me and told me he is moving now). It is around the corner from where I live now, has 4 bedrooms, 2.5 baths (one with a skylight!) with ceramic tile floors in the kitchen and baths, hardwood floors in the dining room, hallway and bedrooms, brand new berber carpet in the living room, a 4 season sun room, a 2.5 car garage and a huge basement! Kitchen is newly remodeled too. The only thing I'm gonna have to do to this place is paint the basement and add a deck off the sunporch! Oh and it is 30,000 dollars less than the new one I was looking at.



Lots of room to detail! Wide driveway! WooHoo! I just hope we can get thru the details so I can get the keys! :xyxthumbs
 
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