I saw the first show of what should be a short TV series on Selling Spelling Manor this past weekend.
The show is covering the sale of one house. What makes a mini-series out of selling this house is that it's being offered for sale a $150 million!!
In this first show we learned the history of the home. It located on the site of the former Bring Crosby estate which was ripped down to build this monster of a home over nearly a decade of construction!
Should be interesting to watch this one, wonder what they'll get for it.
Showing posts with label Mortgage. Show all posts
Showing posts with label Mortgage. Show all posts
Monday, 9 April 2012
Friday, 27 January 2012
Cali to South Korea
This was the first house hunters internation show that I've seen that takes place in South Korea. Normally when people are moving it tends to be to a much warmer climate.
In this show we follow to Americans who are moving to South Korea to teach english as many have done before. And as is common as foreigners they cannot buy a home but must rent.
The intersting twist was that in South Korea they required a Key Money deposit of between $15k and $50k! Key money seems to be a lot like a security deposit on the rental unit but it certainly would be a significant barrier to moving out on your own for the first time.
In the end this couple of ending up moving into the cheapest and smallest place available. They tended to come up with reasons why they didn't like the more expensive homes but my gut told me that it really was the money issue.
In this show we follow to Americans who are moving to South Korea to teach english as many have done before. And as is common as foreigners they cannot buy a home but must rent.
The intersting twist was that in South Korea they required a Key Money deposit of between $15k and $50k! Key money seems to be a lot like a security deposit on the rental unit but it certainly would be a significant barrier to moving out on your own for the first time.
In the end this couple of ending up moving into the cheapest and smallest place available. They tended to come up with reasons why they didn't like the more expensive homes but my gut told me that it really was the money issue.
Thursday, 5 January 2012
House Hunters in Chicago
Another new show of house hunters was on HGTV this week. In this issue we have a couple looking to purchase a new home in Chicago nearly Wriggley stadium.
They ended up having 3 choices:
#1 Was an old converted Couch House with no outside land and no parking it was 440k and only 1500 feet.
#2 Was a 3 unit home which included 2 units for renting. Thus making the 575k price tag affordable. It also include 2000 feet of living space in the owners unit.
#3 Also had a single rental unit on the first floor, with a nice 4 bedroom 2 bathroom owners unit on the 2nd and 3rd floors. It had 1700 feet for the owners and some updates. However the 3rd floor was a converted attic with some small bedrooms in my opinion. However the price tag was 577k.
In the end the home buyers picked opinion #3.
They ended up having 3 choices:
#1 Was an old converted Couch House with no outside land and no parking it was 440k and only 1500 feet.
#2 Was a 3 unit home which included 2 units for renting. Thus making the 575k price tag affordable. It also include 2000 feet of living space in the owners unit.
#3 Also had a single rental unit on the first floor, with a nice 4 bedroom 2 bathroom owners unit on the 2nd and 3rd floors. It had 1700 feet for the owners and some updates. However the 3rd floor was a converted attic with some small bedrooms in my opinion. However the price tag was 577k.
In the end the home buyers picked opinion #3.
Wednesday, 26 October 2011
New Orleans Real Estate!
Another Real Estate video that I found, this one is from New Orleans which I covered in another blog poster awhile ago but have not profiled yet!
This house according the video is listed at only $59,900 so it looks like homes and real estate remain pretty cheap in New Orleans still. I wasn't a great fan of this video since it seemed a little too close in and I was never able to get a feel for the entire room! Or outside of the house for that matter.
However, in several of the close ups it looked like there were some stains from what could be water damage. Clearly this one is a big fixer upper. But hey at least this video had a bit of music for it!
This house according the video is listed at only $59,900 so it looks like homes and real estate remain pretty cheap in New Orleans still. I wasn't a great fan of this video since it seemed a little too close in and I was never able to get a feel for the entire room! Or outside of the house for that matter.
However, in several of the close ups it looked like there were some stains from what could be water damage. Clearly this one is a big fixer upper. But hey at least this video had a bit of music for it!
Tuesday, 13 September 2011
My First Sale in Texas
As I said in my prior post I watched My First Sale last night and I enjoyed watching this first show of the new season on HGTV.
In this eposide we had a man who had gone through a divorce trying to sell his home. It seems that it had purchased it for $205,000 some years ago and currently owed $200,000 on the mortgage. He certainly wasn't paying down the mortgage very aggressively was he.
In any event after about 60 days on the market it was able to sell the house for $215,000 but in the mean time the back told him that he now owed $209,000 on the house. So after factoring in all of his moving costs he was going to need to come up with $9,000 to sell his home.
Well the REALTOR in order to make this deal happen and because she felt really bad for her client told him that she was waving her fee and got the buyers agent to reduce the amount that they would be paid as well. This meant that he only needed to bring $1,000 to the closing.
So Good news for him.
Unfortantely, the deal fell apart on home inspection, from what we saw on the show it was a bunch of minor items that any home would have but the buyer decided to walk away.
At the end of the show we have the home owner moving out because the bank foreclosed!
In this eposide we had a man who had gone through a divorce trying to sell his home. It seems that it had purchased it for $205,000 some years ago and currently owed $200,000 on the mortgage. He certainly wasn't paying down the mortgage very aggressively was he.
In any event after about 60 days on the market it was able to sell the house for $215,000 but in the mean time the back told him that he now owed $209,000 on the house. So after factoring in all of his moving costs he was going to need to come up with $9,000 to sell his home.
Well the REALTOR in order to make this deal happen and because she felt really bad for her client told him that she was waving her fee and got the buyers agent to reduce the amount that they would be paid as well. This meant that he only needed to bring $1,000 to the closing.
So Good news for him.
Unfortantely, the deal fell apart on home inspection, from what we saw on the show it was a bunch of minor items that any home would have but the buyer decided to walk away.
At the end of the show we have the home owner moving out because the bank foreclosed!
Wednesday, 24 August 2011
Rental Income A Video
Next in our theme of following up a review of real estate tv with a current real estate video is this rental income video that I found on Youtube.
In this one a Vancouver mortgage broker is discussing the income property and how to do it correctly to take advantage of a lot of government and bank programs out there. The important thing that she highlights is that you need to stop collecting rent in cash!
Subscribe to:
Posts (Atom)