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14 hours ago, GW Hayduke said:

Any advice on finding a decent realtor for someone looking to purchase a residence in north Austin?  Feel free to PM me suggestions. Would be appreciated.

if you haven't been paying attention, be advised that your realtor will ask you to sign a representation agreement.  It's a new thing, and it's legit. 

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What is the purpose of this agreement? What does it accomplish?

Sellers used to pay the commission for the buyer's agents.  Since a big lawsuit last year, that's no longer the case.  Now the buyer's are responsible for paying their own agent's commission.  Sellers may or may not pay all or part of it.  Before August, I could look at a house on the MLS, say 123 Main St, Anytown USA, and there was a line on the MLS that told what commission was being offered by the seller.   So, I knew what I would be paid if I repped a buyer on that particular house.  Now, it's up to me and my buyer to determine what commission he's willing to pay, and I am willing to accept. 

From a practical standpoint, the seller now receives an offer, and another form (the name varies per state) which says if the buyer is asking the seller to pay the buyer agent's commission. 

So, with my clients, I simply show them a "net sheet".  Buyer A is offering X and asking for you to pay for title, escrow, and commission and you will net Y after all of that. 

The seller can choose the offer that puts the most cash in their pocket at the end of the day. 

 

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10 hours ago, tbone_ said:

What is the purpose of this agreement? What does it accomplish?

Satisfy that lawsuit from last year. Haven't noticed much of a difference yet just a little more explaining similar to below and another page to sign. 

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2 hours ago, Gatorubet said:

IMG_4457.webp.0e16656eb05a6b0e14c10446b919f836.webp

No good news to report. You know I will update you guys, especially on the dip. 

On 4/10/2025 at 11:45 PM, Gil Bang said:

I'll explain it to y'all like you're 5. 

We're turbo fucked.    Fucking morons are in charge.   Prepare your anus.  

Well look,  I’ve got friends in the real estate business and about 2/3 of them contributed voted for this despite my best efforts to get them to at least listen to what their own preferred candidates were saying they intended to do. That seems right in line with survey data I’ve seen. 
Obviously y’all aren’t suffering the consequences alone and I am not in any way celebrating this FAFO moment, but I am genuinely confused by how shocked they all seem.

No offense to anyone annd I hope none taken. Entrepreneurship is hard enough in the best of times and I am sincerely sympathetic. I just don’t see how they missed this coming. 

Edited by Bozo_Casanova

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10 year down .11 so far. As with how it's been lately that comes with the caveat of "for now"

49 minutes ago, UTPhil2006 said:

10 year down .11 so far. As with how it's been lately that comes with the caveat of "for now"

This is a weird setup. All I want is sub fives by August am I asking too much?

Edited by Bozo_Casanova

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13 minutes ago, Bozo_Casanova said:

This is a weird setup. All I want is sub fives by August am I asking too much?

How about sub 6. But also there is buydowns so sub 5 is doable. 

19 minutes ago, UTPhil2006 said:

How about sub 6. But also there is buydowns so sub 5 is doable. 

Maybe- also do y’all do anything out of state, specifically in New Mexico?

2 minutes ago, Bozo_Casanova said:

Maybe- also do y’all do anything out of state, specifically in New Mexico?

I’ve got a guy. 

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7 minutes ago, Bozo_Casanova said:

Maybe- also do y’all do anything out of state, specifically in New Mexico?

We have a guy on our team that does all our out of state deals yes 

3 minutes ago, UTPhil2006 said:

We have a guy on our team that does all our out of state deals yes 

Thanks, figuring out some things. If there’s a buyers market late this summer I might be in a position to do something. 

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7 minutes ago, Bozo_Casanova said:

Thanks, figuring out some things. If there’s a buyers market late this summer I might be in a position to do something. 

Sounds good. I'm still the same email. And I vote you buy in NM as well so we can have hatch Chile enchiladas after your closing 

Went from mbs up 60 points at 8:30 this morning to up 13 points right now. Reprice for the worse.  Was trying to get some momentum, technical charts portend better times ahead, but I'm selling on the idea of it right now. 

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8 minutes ago, Wulaw Horn said:

Went from mbs up 60 points at 8:30 this morning to up 13 points right now. Reprice for the worse.  Was trying to get some momentum, technical charts portend better times ahead, but I'm selling on the idea of it right now. 

Thus the need for my caveat earlier 🤬

1 minute ago, UTPhil2006 said:

Thus the need for my caveat earlier 🤬

For Sure.  I have like 5 deals floating right now.  2 sales and 3 refinances. I need the refinances to get about 1/4 of a point better to get back to where they were before customers let them expire and they are fine to go again.  Sales will have to close but they have a stop on the high end to trigger a lock.  The market won't get better until I give up and lock those deals- then it will be in like 5 minutes time.  

Down to +9 right now. I have no idea why. It's going to suck when this day finishes in the red after starting out +61!

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5 hours ago, UTPhil2006 said:

10 year down .11 so far. As with how it's been lately that comes with the caveat of "for now"

image.gif.f1df998a1ce2da4a2192b2ff446ae0dc.gif

You guys on the sale side ever have this problem?

I'm taking a listing, I spend a ton of time looking for comps, fund about a dozen good ones, adjust them all vs. the subject, average the pricing, and then come up with a sales price for the subject and say to yourself "there's no fucking way that this house is worth 1.1 million"  even though you can show your work?

Too bad for my niece in Frisco - she & her hubby are now empty nesters and have been planning to downsize soon.

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Had an informal Houston shaggy HH at twin peaks on 290. Got to see @Slacks and @Ldogg53 and maybe a Steelers guy if you're on here my bad. 
 

Need to get back into these things bc there's @tx 3 putt @Macanudo etc who we all need to catch up with. 
 

let's go back to the OG cottonwood @Mez2 can host and Prodigy mortgage pays?

@elfenix pick a day 

1 hour ago, UTPhil2006 said:

Had an informal Houston shaggy HH at twin peaks on 290. Got to see @Slacks and @Ldogg53 and maybe a Steelers guy if you're on here my bad. 
 

Need to get back into these things bc there's @tx 3 putt @Macanudo etc who we all need to catch up with. 
 

let's go back to the OG cottonwood @Mez2 can host and Prodigy mortgage pays?

@elfenix pick a day 

That’s peak Houston right there.

Perry's in the woodlands not an option? 

Friday the 9th? We can probably get the horns v gators on a TV

On 4/27/2025 at 2:49 PM, UTPhil2006 said:

Had an informal Houston shaggy HH at twin peaks on 290. Got to see @Slacks and @Ldogg53 and maybe a Steelers guy if you're on here my bad. 
 

Need to get back into these things bc there's @tx 3 putt @Macanudo etc who we all need to catch up with. 
 

let's go back to the OG cottonwood @Mez2 can host and Prodigy mortgage pays?

@elfenix pick a day 

danielle-thomas-with-gia.jpg.2a5db07f680e6d4e4e7d70d951a3f4c0.jpg

On 4/27/2025 at 2:49 PM, UTPhil2006 said:

Had an informal Houston shaggy HH at twin peaks on 290. Got to see @Slacks and @Ldogg53 and maybe a Steelers guy if you're on here my bad. 
 

Need to get back into these things bc there's @tx 3 putt @Macanudo etc who we all need to catch up with. 
 

let's go back to the OG cottonwood @Mez2 can host and Prodigy mortgage pays?

@elfenix pick a day 

I should have known moving back to the Woodlands wouldn't re-qualify me as Houston Shaggy.

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1 hour ago, Murfdogg21 said:

I should have known moving back to the Woodlands wouldn't re-qualify me as Houston Shaggy.

Ha! We can do an informal Perry's one. I'm sure there's a few of you up there that don't wanna make the long drive inside the loop 

  • Author

Also back to 10 year talk.. down another .04 today to 4.17 which is close to one month lows and headed back down closer to below 4 (hopefully) where we were for a whole 30 hours about 6 weeks ago 

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On 4/29/2025 at 11:29 AM, UTPhil2006 said:

Also back to 10 year talk.. down another .04 today to 4.17 which is close to one month lows and headed back down closer to below 4 (hopefully) where we were for a whole 30 hours about 6 weeks ago 

Small but noteworthy gains. Been small but noteworthy gains for about a week solid. Some call that a winning streak. Getting closer..

  • Author
25 minutes ago, UTPhil2006 said:

Small but noteworthy gains. Been small but noteworthy gains for about a week solid. Some call that a winning streak. Getting closer..

image.gif.86d994140c4ece1895f1e9485cab86cd.gif

6 hours ago, UTPhil2006 said:

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Yeah. Job report could/should maybe move the market a little bit tomorrow one way or another. Wed closed above tech support and were ready to be off and running if today would have been flat, but instead MBS was down 20. Because it’s always worse when we are on the precipice of getting better. Fun stuff! 

On 4/24/2025 at 3:22 PM, Gil Bang said:

You guys on the sale side ever have this problem?

I'm taking a listing, I spend a ton of time looking for comps, fund about a dozen good ones, adjust them all vs. the subject, average the pricing, and then come up with a sales price for the subject and say to yourself "there's no fucking way that this house is worth 1.1 million"  even though you can show your work?

Because the data is all old, right?  As most of the sales for comps, are the same sales the owner is aware of, if they are sophisticated in their market.  So what's your solution?  I guess I would tell them this is what the math says, but I think this market data while the most accurate I have, is not reflective of today's market?  I mean it's the rock and the hard place.  You list too high, house sits customer is pissed.  You tell them the real low number and they flinch?  I guess I go for the flinch, and explain that I am trying to sell the house, not just list it...

But as an appraiser you could indeed justify the $1.1 million, for a loan. correct? 😉 Because you can show your work...

 

*** What sort of rates are you guys view as what your buyers are "looking for" to pull the trigger?  Or a recent range of acceptability with the ups and downs.

Edited by horn4life

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8 hours ago, horn4life said:

*** What sort of rates are you guys view as what your buyers are "looking for" to pull the trigger?  Or a recent range of acceptability with the ups and downs.

Buyers a la carte are gonna want the best rate of course but they're gonna pay what they're gonna pay because someone's gotta finance them. Now if you're talking about what rate would it take Tommy Bevo to decide to finally upsize/downsize/make the move wherever and sell his home to net enough money to lose his ~3.0% rate I would guess would be 4.99 and below. At least for the majority to be comfy. I think more will peek around at 5.5% and such. Then the guys that bought in the last 2 years are so are waiting for that 5.xx anything to pull the trigger depending on type of loan, loan amount, and of course rate they bought at. So in conclusion anywhere in a ~2% delta 

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50 minutes ago, Im_smarter_then_you said:

Is there a way of not paying cap gains tax after selling a house?

2 years 

Gains less than 250k single or 500k married are exempt. 

Just now, tbone_ said:

Gains less than 250k single or 500k married are exempt. 

only after

1 hour ago, UTPhil2006 said:

2 years 

 

1 hour ago, UTPhil2006 said:

2 years 

You still have to pay if it’s over 250/500. The 2 years plus thing just gets you the cap gains rate vs the ordinary rate. 

9 minutes ago, tbone_ said:

You still have to pay if it’s over 250/500. The 2 years plus thing just gets you the cap gains rate vs the ordinary rate. 

You get long term cap gains rates after 1 year.

You only qualify for exemption if the home was your primary residence for 2 of the last 5 years.  

1 hour ago, Incredulity said:

1031 exchange

This is only for investment properties right. This is for my primary.   
 

 

Anyone familiar with 121 home sale exclusion

10 minutes ago, Im_smarter_then_you said:

This is only for investment properties right. This is for my primary.   
 

 

Anyone familiar with 121 home sale exclusion

yes,

Sorry.

4 hours ago, Im_smarter_then_you said:

This is only for investment properties right. This is for my primary.   
 

 

Anyone familiar with 121 home sale exclusion

You had the information above.  Has to be primary residence for 24 months of the previous 5 years.  $250K exclusion if single, $500K if married.  Remember this is gain, not sales price, so sales price (minus certain sales costs) - adjusted basis in the house (purchase price + improvements).  This is a very simple explanation but you get the gist.

Not an accountant so take that for what it's worth, but have filled out the forms many a time

 

Edited by Catpfish

15 minutes ago, Catpfish said:

You had the information above.  Has to be primary residence for 24 months of the previous 5 years.  $250K exclusion if single, $500K if married.  Remember this is gain, not sales price, so sales price (minus certain sales costs) - adjusted basis in the house (purchase price + improvements).  This is a very simple explanation but you get the gist.

Not an accountant so take that for what it's worth, but have filled out the forms many a time

 

Is there a way out of not paying taxes on the gain above 500?

22 minutes ago, Im_smarter_then_you said:

Is there a way out of not paying taxes on the gain above 500?

Do you trust your wife?  What I mean is, do you think she’d go behind your back, try to hamstring you?

7 minutes ago, LCHorn said:

Do you trust your wife?  What I mean is, do you think she’d go behind your back, try to hamstring you?

On my all time greats list 

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