I Wanna Buy A House Where Do I Start – Hey, I Want to Buy Your House: Homeowners Besieged by Unsolicited Offers Many speculators are scrambling to get into a hot market. Sometimes they call homeowners several times a day. It can be an invasive nuisance, or worse.
Lauren Barber’s home in Columbus, Ohio on November 16. Barber is sometimes called or texted more than five times a day with offers from investors and companies wanting to buy her house. Maddie McGarvey for the closed caption
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Jennifer Folden-Nissen’s three-bedroom Victorian home in Duluth, Ga., is not for sale. But that didn’t stop the boy who called himself Henry from calling her at least once a week. She says the pitch is always the same: “I want to buy your house. I am ready to pay cash. Today.”
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She says it’s like having to deal with a pushy car salesman. “I let him leave voicemails,” she said. But they are also assertive. “Call me back, call me, call me, call me right now – I’m outside your house.”
Jennifer Folden-Nissen bought this house in 2017 in Duluth, Georgia. Over the summer, a particularly aggressive speculator kept calling and apparently lurking, taking pictures of the house and putting homemade postcards in the mailbox. Hide caption Jennifer Folden-Nissen
Jennifer Folden-Nissen bought this house in 2017 in Duluth, Georgia. Over the summer, a particularly aggressive speculator kept calling and apparently lurking, taking pictures of the house and putting homemade postcards in the mailbox.
Folden-Nissen works for the local fire department and called home and asked her husband to see if the man was outside. But there was never anyone.
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Then Folden-Nissen started receiving postcards from the same man — unstamped, apparently hand-delivered — with pictures of her home on them.
“It was a little freaky because some of them were just like, OK, is the guy really out?” she said. “And why is he taking pictures of my house if I didn’t give him the time of day?”
Why is this happening? In short, the blistering housing market. The supply of affordable homes is nowhere near the demand from people who want to buy them. The supply of nearly 4 million homes is short, according to government-sponsored mortgage company Freddie Mac.
Many builders went out of business after the housing bust, leading to a historic housing shortage. And now investors big and small are scrambling to buy homes as tight supply continues to drive up prices.
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So big companies like Redfin and Opendoor, countless individual speculators, real estate agents, and some other predators contacted homeowners with little chance that they would be willing to sell.
“They just got progressively worse over the last six months, six or seven calls a day,” said Lauren Barber, who lives in Columbus, Ohio.
Lauren Barber stands in her home in Columbus, Ohio, on November 16. Barber has been inundated with offers from investors and companies who want to buy her house. Sometimes they call or text her more than five times a day with offers. Maddie McGarvey for the closed caption
Lauren Barber stands in her home in Columbus, Ohio, on November 16. Barber has been inundated with offers from investors and companies who want to buy her house. Sometimes they call or text her more than five times a day with offers.
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“If you know anything about Columbus, it’s growing and it’s hot,” he said. “People want to live here. Barber bought her house about 10 years ago for $155,000. She says it’s worth more than double that now.
Investors can go online and buy lists of phone numbers for people whose homes have increased in value, perhaps more than the owners realize.
Barber works in human resources, so she says she has to answer her phone. “One of our employees can call me with a question. She says she tries to block the home buyer’s calls, but they always seem to call from another local number.
She says one of them even called her mother’s house, purposely asking if Barber would be selling.
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“Really, you’re going to call my mom and ask her if I’ll sell you my house?” It’s the funniest and most amazing thing,” he said. “But I told you no. Stop calling me. Don’t bother my mother.”
How much of this is legal or otherwise is complicated and may depend on local rules. The city of Philadelphia recently passed a law to crack down on the rougher practices. Includes a local do not call list specifically designed to block cold calls from home buyers.
“Often, solicitations offer a free, no-obligation written offer,” says Michael Froehlich, an attorney with Community Legal Services in Philadelphia. That may sound innocent enough. But he says predatory outfits do this to get the owner to leave them at the door.
“These guys come into their house and use these high-pressure, fraudulent sales tactics to hammer and hit the homeowner until the homeowner signs over.” the documents. He says he’s seen seniors or lower-income residents sign over their homes for half of what they’re actually worth.
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And extensive speculators operate in other cities as well. Gabriela Reimander is a homeowner and real estate agent in St. Petersburg, Florida. She recently received a postcard in the mail that looked particularly concerned.
“THIRD NOTICE,” it reads. “I hope this card catches you in time.” He says it seems designed to scare an elderly person into calling the number back. “I guess whoever falls for it.
Gabriela Raimander received this card in the post. She crossed out her address and other personal information. She assumed it was designed to trick older people into possibly responding. Gabriela Raimander hides the caption
She also gets some of those homemade postcards with pictures of her house on them.
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“I live alone,” Reimander said. “It’s eerie because everyone is coming out.” I don’t want some stalkers tracking my property or, you know, basically me.
Froehlich says homeowners should be very careful if they respond to any direct request. He says people are almost always better off selling their house the traditional way, where you list it for sale, get a bunch of offers and then pick the best one. THE MATERIAL CONTAINED IN THIS NETWORK IS FOR GENERAL INFORMATIONAL PURPOSES ONLY AND DOES NOT CONSTITUTE PROFESSIONAL ADVICE. HOME LANDMARK WARRANTY YOU SHOULD NOT BE THE SUBJECT EXPERT ON THIS MATERIAL AND YOU SHOULD DO YOUR OWN RESEARCH AND/OR SEEK THE ADVICE OF AN APPROPRIATE PROFESSIONAL OPERATOR WHO IS RESPONSIBLE. HOME LANDMARK WARRANTY DISCLAIMS ALL LIABILITY AND SPECIFICALLY DISCLAIMS ALL LIABILITY FOR YOUR USE OF ANY AND ALL INFORMATION CONTAINED HEREIN.
Buying a home will probably be one of the biggest purchases you make, but most people don’t spend their entire lives in the first home they buy! There are many times in your life when your housing needs will change; you will need more space, a different location or different amenities. This guide will help you decide what type of home you should buy at every stage of your life.
The first step before starting your house search is to get pre-approved for a mortgage. This will tell you how much money a credit union or bank will lend you for a mortgage. While getting pre-approved doesn’t guarantee how much you’ll be able to borrow, it will give you an idea of the home price range you can afford. Getting pre-approved will help you be realistic about what you can afford. It will prevent you from falling in love with a house that is out of your budget. The best way to know how much you can afford to pay each month on a mortgage is to update your budget!
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Consider your lifestyle when looking for a house. Do you want to be in the heart of the city in the middle of everything? Then a townhouse in the city would be good for you. Would you rather live in the suburbs in a cute house with a yard? Then the single family home is the right fit for you. Think about what facilities you would like. Do you want to have a yard? Interested in getting access to a pool?
Give yourself a cushion in your budget for expenses such as furnishing your house or repairs and maintenance to your home. One way to reduce unexpected costs is to ask the seller to include a home warranty on the home. Having a home warranty will repair or replace your home’s systems and appliances when they fail from normal wear and tear. A home warranty will cover any home, whether it is new construction or previously lived in.
Michael Corbett, one of Trulia’s real estate experts, recommends staying in your first home for at least five to seven
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