anyone knows what's going on with this CCDC listing?

[Anonymous]

Anonymous wrote:If the owners become landlords, then the mortgage interest is considered a business expense? Are there any limits on the deduction in this case?

DP--pp is right, but generally yes, you can deduct the mortgage interest plus depreciation. Of course when you finally go to sell you owe capital gains on a higher amount.

[Anonymous]

And if they become landlords - in theory their mortgage gets reset to an investment property and the rate will go up.

[Anonymous]

Anonymous wrote:And if they become landlords - in theory their mortgage gets reset to an investment property and the rate will go up.

Therein lies another issue entirely. If they bought this knowing full well they planned to rent it, that's mortgage fraud.

[Anonymous]

Anonymous wrote:

Anonymous wrote:And if they become landlords - in theory their mortgage gets reset to an investment property and the rate will go up.

Therein lies another issue entirely. If they bought this knowing full well they planned to rent it, that's mortgage fraud.

This is a real stretch. If you google the owner he is a highly educated older man. While it's possible this is the case it is highly doubtful this is what's going on. He doesn't fit the profile of someone who intended to become a late-in-life landlord in DC who made an error in his understanding of what his loan documents say.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:And if they become landlords - in theory their mortgage gets reset to an investment property and the rate will go up.

Therein lies another issue entirely. If they bought this knowing full well they planned to rent it, that's mortgage fraud.

This is a real stretch. If you google the owner he is a highly educated older man. While it's possible this is the case it is highly doubtful this is what's going on. He doesn't fit the profile of someone who intended to become a late-in-life landlord in DC who made an error in his understanding of what his loan documents say.

You probably googled the former owner. Or you are the current owner. DC doesn't record sales that quickly. All anyone knows at this point is the name of the person/people who sold the house to the current owner.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:And if they become landlords - in theory their mortgage gets reset to an investment property and the rate will go up.

Therein lies another issue entirely. If they bought this knowing full well they planned to rent it, that's mortgage fraud.

This is a real stretch. If you google the owner he is a highly educated older man. While it's possible this is the case it is highly doubtful this is what's going on. He doesn't fit the profile of someone who intended to become a late-in-life landlord in DC who made an error in his understanding of what his loan documents say.

You probably googled the former owner. Or you are the current owner. DC doesn't record sales that quickly. All anyone knows at this point is the name of the person/people who sold the house to the current owner.

Sure they do -
if you search DC real property tax - there is a sale that occurred on 02-Jun-2023
I am not going to post the couples names - people can go look if they want.

[Anonymous]

Most people wouldn’t go looking in online records then Google the owner and come up with some personality profile for them to determine why they would or would not commit fraud. Very strange.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:And if they become landlords - in theory their mortgage gets reset to an investment property and the rate will go up.

Therein lies another issue entirely. If they bought this knowing full well they planned to rent it, that's mortgage fraud.

This is a real stretch. If you google the owner he is a highly educated older man. While it's possible this is the case it is highly doubtful this is what's going on. He doesn't fit the profile of someone who intended to become a late-in-life landlord in DC who made an error in his understanding of what his loan documents say.

You probably googled the former owner. Or you are the current owner. DC doesn't record sales that quickly. All anyone knows at this point is the name of the person/people who sold the house to the current owner.

MY GOD the paranoia in this forum!! No I am not the current owner! As hard as you are trying to convey your intelligence, why don't you use that "intelligence" to google facts. You can find tax bills. Stupid, dumb people.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I saw the house and the agent explained the circumstances. I won't share here, since the reasons are personal, but they made sense for why they would need to sell it so soon. It's a great house but does need work.

Wait wait wait....their agent disclosed the seller's personal information to you? That is just bad business on their part and decreases the seller's negotiating power, I'm sure the sellers would not be happy to know this. And I hope they're reading this and fire the agent.

The agent listing this house would have absolutely told the sellers that potential buyers would have questions about the quick turnaround. So most likely the agent is telling people something that’s approved by the sellers. Whether it’s the full story or not, who knows.

[Anonymous]

$100K Price reduction. Now priced less than they paid a few weeks ago. I would say they need to keep these price drops coming though. Still way over comps.

[Anonymous]

Very much wondering what’s going on here. Wish someone had the scoop!

[Anonymous]

Still for sale! Wonder if there will be another price drop soon. I actually feel bad for the owners for whatever their situation is.

[Anonymous]

I actually don't feel sorry for them. They overpaid for the house and contributed to these sometimes crazy valuations and market frenzy.

[Anonymous]

it's overpriced

[Anonymous]

I have a suspicion this was buyers remorse. I really don't get the urgency that people seem to be acting with these days when buying houses. Hoping someone does some sleuthing and finds out if these folks bought a different house.