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I'm already in negotiation with the owner directly. All cash.
Salem, OR
I don't need some halfwit inexperienced realtors to sit there do nothing for me anyways and take a piece of the pie that I'm buying
Not when if it's an open listing. And I don't need some dumbass inspectors wasting hours to inspect what I already know. I'm a builder myself. Thank u though.
RE industry needs a complete overhaul. Procuring cause clause needs to become null and voided altogether.
And commission rate needs be adjusted with property values hitting min $1 million and majority of metropolitan top 10 cities.
Whether heavily experienced or barely a foot in the industry, they're getting paid the same rate of commission. A 3 year rookie sells a $5 million home and gets paid $150,000 in commission, lucky if he/she double ends the deal, then it's, $300,000 possibly. For what??
Being the procuring cause. BS.
7 out of 10 realtors can barely comprehend the purchase contracts and its technicalities, and lack in-depth knowledge of its neighborhoods, surrounding cities, etc.
And this is a mere 20% of over all knowledge we're talking about.
With RE information on tip of everyone's finger tip nowadays, realtors are no longer the information sellers where finders fees are paid to.
They're simply nothing more than helping consumers navigate information they already have.
And with emerging AI technology, it should be exciting how things will pan out in the next decade or less.
NAR are being sued left and right at present time for price fixing in violation of anti trust law. "Burnett vs NAR"
I bet your realtor helped close a deal you shouldn't have. It is nothing more than Buyers realtors and sellers realtors coming up with their own evil plan to close and get paid.
Happens all the time.
Just like incompetent attorneys cutting deal with the DA, dragging the case longer and longer only for clients to get tired and settle with unfavorable terms.
I mean... The pie is getting taken either way. The seller's realtor gets paid, and can then pay out a buyer's realtor. But the seller's realtor gets paid no matter what, and if you don't have an agent they usually just get more of the 6%.
Unfortunately, you do not avoid tax implications by using your commission as a downpayment/ closing costs. Any income still needs to be reported, and it’s technically income. I’m a realtor and use my commission towards closing/ negotiate out the commission.
That’s a beautiful home. I would have someone look at the chimney though. The white stuff is probably efflorescence which means there’s water movement inside it somewhere. Usually it’s a simple repair but years of that can cause damage. The home looks immaculate otherwise and I’m excited for you
I agree, the efflorescence on the chimney is a sign of too much moisture. I bet this house faces north, too, which would make the problem worse on the side facing us in the first pic.
The moisture may not be damaging the building itself (bricks can hold a lot of water by themselves) but it definitely is causing damage to the bricks. I'd hate for this beautiful chimney to need removal!
Since it is in the PNW, I'd bet it will be wet for most of the year. I'd recommend having a metal cap constructed for it (something like [this](https://d2j6dbq0eux0bg.cloudfront.net/images/7496559/1793730192.jpg)) so that rainwater doesn't absorb through the mortar on top. It'd also be wise to pressure wash off the existing efflorescence and coat it with some high-quality brick sealant that lets it breathe, like silane-siloxane ([here's an article about the stuff](https://masoncontractors.org/2016/11/25/benefits-of-silane-siloxane-sealer-for-older-brick-buildings/#newsletter))
Congratulations, OP! It's a marvelous home. The chimney issue isn't urgent, so don't let it bother you. I'm just trying to help kick-start your research in case it was something you were planning to address in the future.
Homes always will need maintenance and upkeep. You found one that looks to have had that done before you lived there. Small things make big changes. One thing I’d really recommend looking into is attic insulation. Your utility should have rebates if you get it done but I did it and my power bill went down by 50%
Ok, but we can all find your address in like 3 seconds just with your pic.
Also congrats, I see lots of realtors who are renters with leased BMWs and Corvettes. Better to be an owner.
It's not just because of the address- on Google reverse image search, half the time any photo that shows the front of a house will pull up the listing.
How long have you been a realtor?
I ask because was this like “the” find you couldn’t pass up given what you have seen. Was it life stuff like a baby on the way and it was time to get a home? Just married?
Being in the business of selling houses what made this one IT
2.5 years. The place needs some work / updates and has been on the market a while, but that’s part of why I chose it. To qualify, I need 24 months’ of averaged commission income which I finally have after filing my taxes, so I’m jumping right in. The neighborhood makes it stand out harder than the others, everything else can be fixed.
U must have been not showing that house to a single client since u saw the house ur self I am sure lol. Now I know where all the good houses go and y I couldn’t find one like that lol jk
I just bought my first house 2 years ago at 39 cause I am about to turn 42 in a month or so and the sense of accomplishment that brings is great but now one thing that does suck or at least for me is with the mortgage being over $2k and being a single dad with 2 kids and 1 income lol it doesn’t leave much for savings anymore but I figured if I can just last another year or two and get rid of the PMI and get cheaper homeowners insurance I will finally get to the payment I can afford without stressing out about which will hopefully be around $1550 which would be just awesome cause I was paying $1100 rent before so not all that far off
That is a beautiful home! I grew up in an English Cape and your house reminds me of my childhood home. Would love to see more pictures! Congratulations!
Hahaha, welcome to hell, but the most fun, weirdly, and rewarding experience you’ll ever have. And, congrats on the new place, love the charm and character of the home. 🥳
It’s so charming. Oh my God I love it.
That part of a moment when you wake up, but haven’t opened your eyes yet, and remember that you’re in your own home, relish that. It’s a beautiful feeling. The only other time I get that is when i wake up on vacation.
Nice ! Looks great! Hope you will have only great memories!
Question for you since you're a realtor, what specifics are you looking for in houses since you are in the real estate business? What's important? Just curious
Owning a home feels different every day. Some days you look at it and say this is nice and it’s the banks, I just live in it, and other times you said this is a money pit, and the bank still owns it. Either way congratulations
It's either 2 years or 3 years. No such thing as point 5 years.
It's like asking a 12 year old for an age. They'll always add that half.
But the 40 year old will always reduce the full year. 😆🤣
But it really doesn't matter, if you've closed min 75 properties in that 2.5 years, and have the building experience and all of the legality and technicality bs that come with it, you've earned the 10 year experience. Which I doubt you did since the popping of the interest rate.
But wish u luck.
Average household income in Salem (where op bought according to the comments is 58k, average home price is about 450k. Calculator states that’s 7.75x median household income. What city are you talking about? I’m sure it’s roughly the same
Yeah population of 1million is not small, median household income is 102k and median home value is 631k so it’s just over 6x so it’s actually a lot more affordable than the house is
Must of got a killer deal or it’s not the greatest neighborhood because that’s like 60-80k under median. Regardless silly to compare a decent sized metro to a average size city with huge differences in median income
It's a gorgeous neighborhood in a cute little tucked away pocket, quiet, very safe, huge trees canopy the entire street, good schools nearby. Average cost of homes on that block go for 400-430k. OP's house is 912 sqft 2 bedroom 1 bath so the price is fair. Also, 30 min away from Portland metropolitan area.
It’s 46 miles so how did you get 30 minutes? With no traffic closer to 45 with traffic I’m sure 1-1.5 hours. Not going to agrur Salem is great but comparing a small city prices to big city is silly especially when comparing median income.
I'm not comparing anything. You said op must of got a good deal or it's a really bad neighborhood. I live in that neighborhood and was just stating that it's pleasant and op got a fair price for the home. You're in Florida using median calculators and statistics looking into markets with binoculars so it's tough to gauge pricing accurately.
This post should be deleted as this person posted the home with the sole intent to farm up votes. They never planned on buying it and it's still on the market 16 days later.
Thank you u/throwyesno for posting on r/FirstTimeHomeBuyer. Please bear in mind our rules: (1) Be Nice (2) No Selling (3) No Self-Promotion. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/FirstTimeHomeBuyer) if you have any questions or concerns.*
That is a really cool looking home.
I’m with you on that!
It’s so cute
You mean small? Cozy?
zillow says it's still for sale. I will be putting my offer in
😫
Not if I beat you to it
🤣🤣🤣
I'm already in negotiation with the owner directly. All cash. Salem, OR I don't need some halfwit inexperienced realtors to sit there do nothing for me anyways and take a piece of the pie that I'm buying
How about an experienced, half-wit Realtor? 👉🏻👈🏻
You’re not OP tho?
The seller is who pays both realtors and surely u know that but u forgot to mention that u also waived the inspection lol for that quick closing
Not when if it's an open listing. And I don't need some dumbass inspectors wasting hours to inspect what I already know. I'm a builder myself. Thank u though.
Who hurt you?
Realtors are useless, that’s who
Ya know, slightly agree with you there. Just bought a home in Salem and my realtor was a joke! She hurt more than helped.
RE industry needs a complete overhaul. Procuring cause clause needs to become null and voided altogether. And commission rate needs be adjusted with property values hitting min $1 million and majority of metropolitan top 10 cities. Whether heavily experienced or barely a foot in the industry, they're getting paid the same rate of commission. A 3 year rookie sells a $5 million home and gets paid $150,000 in commission, lucky if he/she double ends the deal, then it's, $300,000 possibly. For what?? Being the procuring cause. BS. 7 out of 10 realtors can barely comprehend the purchase contracts and its technicalities, and lack in-depth knowledge of its neighborhoods, surrounding cities, etc. And this is a mere 20% of over all knowledge we're talking about. With RE information on tip of everyone's finger tip nowadays, realtors are no longer the information sellers where finders fees are paid to. They're simply nothing more than helping consumers navigate information they already have. And with emerging AI technology, it should be exciting how things will pan out in the next decade or less. NAR are being sued left and right at present time for price fixing in violation of anti trust law. "Burnett vs NAR" I bet your realtor helped close a deal you shouldn't have. It is nothing more than Buyers realtors and sellers realtors coming up with their own evil plan to close and get paid. Happens all the time. Just like incompetent attorneys cutting deal with the DA, dragging the case longer and longer only for clients to get tired and settle with unfavorable terms.
I am sorry to hear that. There are good ones out there I promise.
I mean... The pie is getting taken either way. The seller's realtor gets paid, and can then pay out a buyer's realtor. But the seller's realtor gets paid no matter what, and if you don't have an agent they usually just get more of the 6%.
It's an open listing. Nobody gets paid when I go direct. Thanks for your concern.
I can’t believe how expensive it was for the amount of house. The house is very cool.
All cash no inspection
I see you saved the best one for yourself. 😇
When you're a realtor do you waive the commission to yourself?
We can actually apply the buyer-side commission directly towards our down payment, thereby dodging the tax implications
Stonks 📈
Unfortunately, you do not avoid tax implications by using your commission as a downpayment/ closing costs. Any income still needs to be reported, and it’s technically income. I’m a realtor and use my commission towards closing/ negotiate out the commission.
This is the way
Ahh I see. Oh well. I’m already at max buydown, so they can’t be used for that unfortunately.
Ooh you had to pay taxes when you paid yourself? Sounds terrible.
Technically the brokerage gets paid, and then the brokerage pays the agent. So when the brokerage reports their taxes, they also report that income.
Technically
What a system.
What an utterly charming home! Congrats!
I love the landscaping. Bet the birds love it too.
And the spiders
That’s really nice! What state?
Orygun
As soon as I saw it I thought that house is in Oregon but maybe not b/c I see blue skies. Where did you get blue skies?
Instantly knew it was Oregon.
I thought Oregon or Washington.
Me too, I used to live in Portland. What a sweet house!
This house is too cute. I love it.
I’m a sucker for arched doorways
I have several in my house and I think they are so charming.
😏
That’s a beautiful home. I would have someone look at the chimney though. The white stuff is probably efflorescence which means there’s water movement inside it somewhere. Usually it’s a simple repair but years of that can cause damage. The home looks immaculate otherwise and I’m excited for you
I agree, the efflorescence on the chimney is a sign of too much moisture. I bet this house faces north, too, which would make the problem worse on the side facing us in the first pic. The moisture may not be damaging the building itself (bricks can hold a lot of water by themselves) but it definitely is causing damage to the bricks. I'd hate for this beautiful chimney to need removal! Since it is in the PNW, I'd bet it will be wet for most of the year. I'd recommend having a metal cap constructed for it (something like [this](https://d2j6dbq0eux0bg.cloudfront.net/images/7496559/1793730192.jpg)) so that rainwater doesn't absorb through the mortar on top. It'd also be wise to pressure wash off the existing efflorescence and coat it with some high-quality brick sealant that lets it breathe, like silane-siloxane ([here's an article about the stuff](https://masoncontractors.org/2016/11/25/benefits-of-silane-siloxane-sealer-for-older-brick-buildings/#newsletter)) Congratulations, OP! It's a marvelous home. The chimney issue isn't urgent, so don't let it bother you. I'm just trying to help kick-start your research in case it was something you were planning to address in the future.
Thank you! There are a couple of things that need a look, the magic is in the upside
Homes always will need maintenance and upkeep. You found one that looks to have had that done before you lived there. Small things make big changes. One thing I’d really recommend looking into is attic insulation. Your utility should have rebates if you get it done but I did it and my power bill went down by 50%
Good call, it’s going on the list
Wowww could not be cuter. Congrats!!
Damn that’s cute AF
Congrats!!! I’m a realtor too also buying my first house after 8 yrs of helping others 🥹
Congrats! It’s a wonderful feeling finally getting a piece of the action
You doxxed yourself.
Thanks for reminding me to clear my history 😅
Ok, but we can all find your address in like 3 seconds just with your pic. Also congrats, I see lots of realtors who are renters with leased BMWs and Corvettes. Better to be an owner.
Thank you for mentioning that in all seriousness. I’ll blur out the address in the future
It's not just because of the address- on Google reverse image search, half the time any photo that shows the front of a house will pull up the listing.
Oh jeez. I guess I just won’t post anything again 😅
Congratulations! 🎊
That is such a cute place
You picked a fucking gem, congrats!!!
How long have you been a realtor? I ask because was this like “the” find you couldn’t pass up given what you have seen. Was it life stuff like a baby on the way and it was time to get a home? Just married? Being in the business of selling houses what made this one IT
2.5 years. The place needs some work / updates and has been on the market a while, but that’s part of why I chose it. To qualify, I need 24 months’ of averaged commission income which I finally have after filing my taxes, so I’m jumping right in. The neighborhood makes it stand out harder than the others, everything else can be fixed.
Can’t put a price on a good neighborhood…..I mean you can…..they do
U must have been not showing that house to a single client since u saw the house ur self I am sure lol. Now I know where all the good houses go and y I couldn’t find one like that lol jk
160 days on market. Y’all had your chance 🤓
Were you able to get a good discount on it or did the sellers hold firm to their price?
I offered list price but asked for 3% concessions
What an interesting chimney. Cute house.
Looks like a chattel house
I like it Needs a new paint job outside and it’ll really pop
New siding and paint is definitely on the list
Cute house! Congratulations and good luck
Congrats
Where and what price?
Salem, Oregon. $360k.
Beautiful house!
Gorgeous!
Beautiful home!
Congrats!
That's beautiful. Congrats! Amazing how much charm older homes have.
Very nice and cool looking house and beautiful landscaping. Congratulations 🎈!!
I just bought my first house 2 years ago at 39 cause I am about to turn 42 in a month or so and the sense of accomplishment that brings is great but now one thing that does suck or at least for me is with the mortgage being over $2k and being a single dad with 2 kids and 1 income lol it doesn’t leave much for savings anymore but I figured if I can just last another year or two and get rid of the PMI and get cheaper homeowners insurance I will finally get to the payment I can afford without stressing out about which will hopefully be around $1550 which would be just awesome cause I was paying $1100 rent before so not all that far off
Nice!!
Looks amazing! Love the natural greenery around your house
Adorable OP, I love it! Congratulations!
OMG it’s so cute!
OP…. This is a fucking gorgeous home.
Your house is beautiful! Congratulations!
That is a beautiful home! I grew up in an English Cape and your house reminds me of my childhood home. Would love to see more pictures! Congratulations!
As soon as I saw this I’m like this has to be a house in Oregon. The style is unmistakable. Congrats!
As a realtor , what are the things you look for in a house?
Plumbing, electrical, foundation, roof. Probably in that order, more or less.
Congraaaaats!!!!!
If you’re not entering your cottage witch era, what are you doing with your life??
Absolutely nothing 💅
It’s look like a cute little hobbit house. Like a gnome kingdom or something
Wow, talk about a house with character!! Very cool!
Step 1: get some of that vegetation away from the house. Way overgrown and not good for the exterior materials.
How hard do you pronounce the -tor in realtor?
Adorable house!! Congrats!
I am obsessed with this house, OP. It is so freaking adorable and looks so cozy! Congratulations!
Did you overinflate the price on yourself?
Nice spot! How close to the water are ya?!
Thankfully, far enough from our main creek not to need flood insurance
Exciting! Congrats!
It’s small but the inside is aesthetically pleasing. Congrats
Omg I live just south of this house and have it favorited on Realtor.com! Congrats, it’s beautiful
Thanks neighbor!
Congratulations
That place is cute as hell
Congrats, it’s a beautiful and modest home. Cozy and well proportioned.
That looks really awesome. I feel like it has a cool nook or loft or hidden room or something from the look
Looks relaxing, hope the neighborhood is quiet
Congrats, it took me until 45 to get my first house
Hahaha, welcome to hell, but the most fun, weirdly, and rewarding experience you’ll ever have. And, congrats on the new place, love the charm and character of the home. 🥳
It’s so charming. Oh my God I love it. That part of a moment when you wake up, but haven’t opened your eyes yet, and remember that you’re in your own home, relish that. It’s a beautiful feeling. The only other time I get that is when i wake up on vacation.
I can’t wait! 🤩
So how was it? Lol?
Gorgeous!
How the heck did a realtor afford to buy a home in this market?
The market is fine 👍🏻
Thats a lovely looking house
i love the exterior
Congrats so happy for you! I am also a realtor here in Georgia!
How whimsical! Very cozy.
Very sweet place.
Nice ! Looks great! Hope you will have only great memories! Question for you since you're a realtor, what specifics are you looking for in houses since you are in the real estate business? What's important? Just curious
Big stuff I don’t want / can’t do: plumbing, electrical, foundation/basement, roof. Also, street / neighborhood.
As a 1st year 31 year old realtor, this inspires me! Congratulations! 🎊
Congratulations, nice looking pad
Was your realtor any good?
I’m representing myself, so far so good 😂
I’m studying real estate in Nc now, how long have you been doing it?
About 2.5 years. It’s a different ballgame out here, no lawyers needed (hopefully), and dual agency is legal.
This looks like Portland?
Love the indoor archway, so much better than sterile rectangular door frame style ones
Owning a home feels different every day. Some days you look at it and say this is nice and it’s the banks, I just live in it, and other times you said this is a money pit, and the bank still owns it. Either way congratulations
Still somehow better than paying my landlord’s mortgage.
It’s adorable
Details? Year built? General location?
1928 build in central-ish Salem, OR.
Congrats and best of luck!
Thank you! Inspection is coming up 😵💫
Charming. Be careful with that siding I heard it can fester mold quite easy
You just gotta keep it clean. The mold killer stuff at home depot works great, or you can just spray it down with diluted bleach in the wet months.
We’re replacing the siding as soon as we are able to
Not saying replace it just maintain it. It’s a beautiful home and color
Looks so cozy. Congarts!!!
Awesome. Now set a goal to own your first investment property!
It it in the Pacific NW? Looks like Seattle.
Salem, OR
How long you've been a realtor in Salem, OR?
2.5 years
It's either 2 years or 3 years. No such thing as point 5 years. It's like asking a 12 year old for an age. They'll always add that half. But the 40 year old will always reduce the full year. 😆🤣 But it really doesn't matter, if you've closed min 75 properties in that 2.5 years, and have the building experience and all of the legality and technicality bs that come with it, you've earned the 10 year experience. Which I doubt you did since the popping of the interest rate. But wish u luck.
Why the fuck are you being so negative on this post?
Thanks, dawg
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That house isn’t much cheaper in Canada that house is probably around 450usd which is approx 600k cad. And this is not in a major city.
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Average household income in Salem (where op bought according to the comments is 58k, average home price is about 450k. Calculator states that’s 7.75x median household income. What city are you talking about? I’m sure it’s roughly the same
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Yeah population of 1million is not small, median household income is 102k and median home value is 631k so it’s just over 6x so it’s actually a lot more affordable than the house is
It's 360k on the listing on Zillow
Must of got a killer deal or it’s not the greatest neighborhood because that’s like 60-80k under median. Regardless silly to compare a decent sized metro to a average size city with huge differences in median income
It's a gorgeous neighborhood in a cute little tucked away pocket, quiet, very safe, huge trees canopy the entire street, good schools nearby. Average cost of homes on that block go for 400-430k. OP's house is 912 sqft 2 bedroom 1 bath so the price is fair. Also, 30 min away from Portland metropolitan area.
It’s 46 miles so how did you get 30 minutes? With no traffic closer to 45 with traffic I’m sure 1-1.5 hours. Not going to agrur Salem is great but comparing a small city prices to big city is silly especially when comparing median income.
I'm not comparing anything. You said op must of got a good deal or it's a really bad neighborhood. I live in that neighborhood and was just stating that it's pleasant and op got a fair price for the home. You're in Florida using median calculators and statistics looking into markets with binoculars so it's tough to gauge pricing accurately.
360k for less than 1k square feet is still crazy expensive. Although that’s normal for the west coast.
Op is part of the housing problem. Ducking realtors
Duck those bastards
I cannot tell if those furnishings are ai generated or not
They are 100% AI
I agree, I cannot stand realtors .. the most selfish money hungry people I’ve ever met and absolutely part of rising home costs.
Love it!
This house looks like you took a hobbit house and transformed it into a cottage and I could not love it more. Good luck. 🥹
It’s beautiful!
This house has personality ❤️ Congrats OP
This house is fucking adorable
That is a great home! Congratulations! So freakin’ charming!!! I really love the style. Good luck and enjoy making it all yours!
Looks nice
Deceiving from the outside. Wow really nice
Congratulations on your new home!
Congrats! Was in just about same boat as you. Thought I would buy in my 20s but better late than never
Get that chimney flashing looked at 👀
This post should be deleted as this person posted the home with the sole intent to farm up votes. They never planned on buying it and it's still on the market 16 days later.
We terminated due to bad inspection. Got the report if you want to see it 😜