Time to move again - what's the deal with RE agents?

WolfeMacleod · 10-04-2013, 02:12 PM

We were given notice that the owners want to move back into their house. Second time since 2011. We've been here about 2.5 years. Have until some time in December. We hope. The property manager has gone a little wonky on us, and didn't give us the required amount of time that they weren't going to renew the lease (which expired at the end of last month) but said he might be able to go month to month till December.
Pretty tough to find a useable place with enough space for me to work in, here around Seattle. Large garage needed.

Looking at places on Zillow and other sites, driving by to take a look, and sending messages and phone calls, we can't hardly get anyone to contact us back for a showing.
What's the deal!?

I've made offer of more than asking prices, too.

I put in an application on one place who actually showed me the house. Nice large 740 sq ft garage. Tiny house, barely big enough for me and my own stuff. House was still available, they said. Applied, then contacted to confirm they received it. Turns out, they were signing a lease. Would have been nice to know before I spent to $ for the application!

Took me six months last time to find place with the workspace.

I'd buy a place, but I won't qualify for a mortgage loan.

Noah930 · Noah930's Garage

Leasing? I think there's so little money in it for the real estate agent that they frequently don't really give a crap about leases. If you wanted to buy a house, though, that's a whole different amount of money to them.

WolfeMacleod · 10-04-2013, 02:51 PM

Quote:

Originally Posted by Noah930

Leasing? I think there's so little money in it for the real estate agent that they frequently don't really give a crap about leases. If you wanted to buy a house, though, that's a whole different amount of money to them.

Could be. These were the listing agents for the houses. Still, it doesn't make any sense.

We found an AWESOME place 7 minutes from Hendrix's grave... huge multi-bay shop. was a rent-to-own. The RE agents who showed it to us really pushed the R-T-O thing, despite my telling him that I could give them what they were asking as a down payment then and there. They wanted $375k
It was tempting, but way too far south.

What's the deal on Rent-to-own, anyways? How legit is this?

MT930 · 10-04-2013, 03:00 PM

Quote:

Originally Posted by Noah930

Leasing? I think there's so little money in it for the real estate agent that they frequently don't really give a crap about leases. If you wanted to buy a house, though, that's a whole different amount of money to them.

Yes Real Estate agents want to sell the house. Residential leasing is a lost leader.

Renting to own in a good market. Means the home is grossly over priced or something is wrong with it that you are not seeing yet .

Most of the rent to own scenarios are not in the Buyers best interest

Approach with caution.

Renting with an option to purchase is a better play. Gives you the flexibility to shop for financing over the lease period.

WolfeMacleod · 10-04-2013, 03:06 PM

Quote:

Originally Posted by MT930

Yes Real Estate agents want to sell the house. Residential leasing is a lost leader.

Renting to own in a good market. Means the home is grossly over priced or something is wrong with it that you are not seeing yet .

Most of the rent to own scenarios are not in the Buyers best interest

.

Yeah, I keep in touch with the RE agent who found us this place. He doesn't do rentals any more, but he said the same thing, more or less.
Here's that place that was listed as RTO. They wanted $5000 as the buy-option and about $2300/mo or so.

13116 158th Ave SE, Renton, WA 98059 is For Sale - Zillow

garage...

jyl · jyl's Garage

Wolfe, I remember how difficult the last move was for you.

I think you would be better off renting a separate workspace for the business. Then you would have a far wider choice of places to live in, and you wouldn't be sinking money/effort into making a garage into a production space every 2.5 years.

WolfeMacleod · 04:01 PM

Quote:

Originally Posted by jyl

Wolfe, I remember how difficult the last move was for you.

I think you would be better off renting a separate workspace for the business. Then you would have a far wider choice of places to live in, and you wouldn't be sinking money/effort into making a garage into a production space every 2.5 years.

That's been considered, but looking at another $1000/mo (at least) into workshop space, plus utilities, another phone line, internet line, makes it just not worth it. Having my workspace at home not only saves a ton of money, but allows me to work whenever I want, with zero commute.
And I wouldn't be able to deduct half my living expenses from my taxes

john70t · 10-04-2013, 05:38 PM

Price. Quality. Optimal.
Pick any two of the three.

WolfeMacleod · 10-04-2013, 05:58 PM

Quote:

Originally Posted by john70t

Price. Quality. Optimal.
Pick any two of the three.

Price and Optimal.
While I'd like a decently nice place, I don't care if it's a craphole that's got the space I need. That was the place with the 740 ft shop. House was tiny, tilted, and somewhat run down.

Found another amazing place. A bit far out, but whoa....

They won't take the stupid dog that was drug home three months ago.

12610 123rd Ave NE, Lake Stevens, WA 98258 is For Rent - Zillow

john70t · 06:16 PM

What about outside of town(ship)?

Find a good R/E map of lowest prop values, and search for leases there (requiring claymores and auto-targeting .50cal M2 on the roof of course).

Rent a foreclosure from the bank?

Time to get creative and advertise.

WolfeMacleod · 10-04-2013, 06:36 PM

Quote:

Originally Posted by john70t

What about outside of town(ship)?

Find a good R/E map of lowest prop values, and search for leases there (requiring claymores and auto-targeting .50cal M2 on the roof of course).

Rent a foreclosure from the bank?

Time to get creative and advertise.

My employee, who is an anchor around my neck, doesn't drive.

Can't afford to lose him, though.

john70t · 10-04-2013, 07:01 PM

IMO, you'll have to do some soul searching about the options:
1). The place must allow working at home, or right near home.
2). The place must be a stable home for at least 5 years, but long-term leasing is a commitment when you're not sure.
3). The place must be inexpensive.
4). The place must accept dogs, or the dog must go to a new home.
5). The place must be near your boss/employees.

That sounds like the given criteria.
4,5 are the most flexible. Buy your employee a cheap honda.

WolfeMacleod · 11:25 PM

Quote:

Originally Posted by john70t

IMO, you'll have to do some soul searching about the options:
1). The place must allow working at home, or right near home.
2). The place must be a stable home for at least 5 years, but long-term leasing is a commitment when you're not sure.
3). The place must be inexpensive.
4). The place must accept dogs, or the dog must go to a new home.
5). The place must be near your boss/employees.

That sounds like the given criteria.
4,5 are the most flexible. Buy your employee a cheap honda.

It's not that he doesn't drive because he can't afford a car (ok, he can't) it's that because... well, he's SHELDON Cooper. Completely incapable of operating a vehicle or paying attention to the entire road..(OH LOOK, DOG!) He would be a true menace to anyone within a 500 yard radius.

I'm considering finding my own place, what with all the BS I've dealt with over the last two years...

dad911 · 10-05-2013, 07:32 AM

Quote:

Originally Posted by WolfeMacleod

We were given notice that the owners want to move back into their house. Second time since 2011. We've been here about 2.5 years. Have until some time in December. We hope. The property manager has gone a little wonky on us, and didn't give us the required amount of time that they weren't going to renew the lease (which expired at the end of last month) ........

Read the lease. If they screwed up, not enough notice, what are the consequences? If the lease renewed, you may have another year?