Beth, Just checked the status of this property, it is pending as of 05/03 meaning they have an accepted offer and they are working on it. If you're not working with an agent I'd be happy to help you find another that's available. Best,... more
here's an example of an ad on craigslit, that uses the word "foreclosure" to get in search results. Blow Out Price! REDUCED AGAIN! 4 FAST SALE! Best Lake View on Geist !!!!!!!!! Assessed for $700K in 2010
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I would suggest that you speak with a good mortgage broker in your area and they can assess your situation to help you answer that question. If you have low credit, the broker may be able to help you by explaining what steps you should take to fix your credit. In that price range, it is also possible that you're looking at a mobile home. If that is the case, there are special lenders who deal with those properties. I would start by checking with your local bank and then if you need more help, check out the mortgage tab on Trulia.com and put in your zip code for references to mortgage brokers.... more
Tammy-
The average has to be 630 or above for a home loan.
You can start working on what needs to clean off your credit report by contacting the credit reporting agency Experian, TransUnion and Equifax. Another options is companies that will help you in the clean up of your credit report, like: http://www.ovationcredit.com/... more
"Some will ask if they can, move possesion into the vacant home before closing."The answer to bank owned homes is "NO".The banks Fannie Mae, HUD, Freddie Mac, etc. will not allow anything be done to there
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Faye01us - I am so sorry you have problems with your apartment.
1) First thing, you are familiar with your credit score and note it is 603, that is not a terrible score. To answer one of your questions: "I don't know how long it takes between making payments and how long it takes to reflect on your credit report". Once you pay things it could take up to 3 months to reflect on your score. It is usually 30 days but it depends on how often the company you are paying reports and we live in a very small rural area. If you haven't talked to a local lender I would go to Storm Lake and talk to the bankers at NorthWest Bank, Central Bank, Security, or Meta Bank face to face.
2) Second, have you put your problems/concerns in writing to your landlord (send it certified and return reciept so you know they got it). In the letter, nicely request repairs to be completed within a reasonable time frame. Try to work with your landlord, it will usually resolve the issues if they get something in writing.
3) If your landlord is unresponsive to your needed repairs and if your apartment is located in the city limits of Alta Iowa contact the city code officer Tom Konradi and ask if he will come through the property. If you need some help call me, I have worked with other landlords and tenants to get problems resolved.
I hope this info helps, please call me 712-291-0118 or come by my office at 607 Lake Ave in Storm Lake if you would like more help.... more
Define 'bad credit'. Many people THINK they have bad credit when in fact it's not that bad. The smartest thing you could do is to meet with a mortgage banker to see exactly where you stand and what can and/or needs to be done. I do not recommend big banks, instead see if you can find a small company that specializes in writing mortgages.
There are many things besides just credit score that go into getting a mortgage approved. The lender will look at your entire circumstance and will be able to tell you what you can qualify for today and if not today, then exactly what you need to do to improve your situation, how long that will take and when you can expect to be able to buy. They will keep in touch with you to keep you on track and they will tell you how much you can expect to comfortably spend each month.
If you don't know a mortgage banker, call a realtor and ask to be referred. Realtors are always glad to help!
Good Luck!... more
You can have a cosinger on a loan but it may not be necessary. You need at least a 640 credit score and 40% debit to income ratio, including the new mortgage cost, to get a loan on your own. A lender will be able to give you a pre-approval letter with an idea of what your payments would be each month. The more money you put down the better the interest and your parents can give you a gift for the down payment.... more
We see many credit reports with low credit scores (anything less than 620), and often many scores in the 500's. This is BAD credit. If you are one of the folks affected by this terrible economy, you have a low credit score and you have a dream of buying a home, here's some simple advice for you.
It is unlikely you could be approved for mortgage financing with that credit score at this time.
Beware of any mortgage professionals promising you an approval with such a low score. Wait on buying a home. I recommend you take the time to resolve your credit issues.
First, settle any outstanding debt. If you owe money on collection accounts, charge-offs and/or judgments, make payment arrangements and get these accounts paid promptly.
Next, begin rebuilding your credit. If you have current accounts with good payment histories, or even some previous late-payment-blemishes, make sure you continue to pay those accounts on time. If you do not have any existing credit accounts then you'll need to establish several in order to create a viable credit history.
I have found that CONSUMER ACTION is an excellent resource for objective advice on all things credit related. You'll find free and sincere advice on everything from settling collection accounts to rebuilding credit to building credit from scratch on their website http://www.consumer-action.org/.
Beware of anyone offering to "repair" your credit! The Federal Trade Commission issued a stern warning last year that such offers are scams. Find more from the FTC HERE. http://www.ftc.gov/bcp/edu/microsites/moneymatters/dealing-with-credit-repair.shtml
The best way to buy a home is to have a decent credit history combined with sufficient Income and Assets for a home purchase.
The best way to have a decent credit history is to settle negative outstanding obligations and pay all your bills on time for at least two years.
Trevor Curran
NMLS #40140... more
It's according to the lender, not all lenders are in the box lenders. There are in house loans that don't follow the same criteria as most lending institutions they go on a case by case basis and do not sell their loans on the secondary market. You need to speak to an agent that can help guide you in the right direction that is best for your personal needs. Lending as in real estate is a local market. You should get your advise from someone from where you live and knows your market.... more
lahawk0112,
I am connected with a reputable property management company in the Ames/Des Moines area that can walk you through the steps and answer any questions you may have. If that is something that would be beneficial to you, please let me know and I can put you in contact with the right individual.... more
Chad,
I think that agent is a bit low. I would put it closer to $150,000 with the right marketing and right agent behind you. If you are wondering who that agent is, it is me!
Nobody has more recommendation on Trulia locally than I do. Check out my website at MarkCharter.com to learn more about me.
Also, here is an offer to you to consider.
List with me for three months. If I don't have an offer for you in the first 30 days, I reduce my side of the commission by 1%, and if it takes me another 30 days after that, I drop another 1%
So, I perform quickly or I lose money.
I can do this because I believe in how I market and I use the right tools, like a professional photographer to shoot your listing photos.
But, like any great offer, this does not last forever, it is meant to entice you to act. Call me or email today and I will honor those terms. Tomorrow, they are no good.
Mark Charter
RE/MAX Real Estate Center
864-6444
Mark@MarkCharter.com
Again, check out MarkCharter.com and you will quickly see I am doing things differently than the rest.... more
Hi Docdaniel,
I have answered your question in a comment to your additional answer, but will duplicate it here for the benefit of the community.
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Unfortunately, Trulia does not allow home-owners to list their own homes for sale on our site. You will need to work with a real estate agent to do this. You can use our "Find A Pro" tool to find a recommended and reputable pro in your area, here: http://www.trulia.com/voices/directory/52241-agent--61663
Let me know if I can help in any other way,
Andrew
Community Manager, Trulia Voices
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Kimberly, Unit sales and average prices have been rising in the Des Moines area all this year. I have posted a number of reports for the public on my blog using data provided by the Des Moines Area Association of Realtors, The Iowa Association of Realtors, and Les Sulgrove of REMarket Pulse (Les is the king of stats for our market). You can reference these reports by following the link provided. A new report will be produced for April on the 12th of May. There are thousands of homes on the market at this time providing evidence that people are willing to sell and that fact, plus the historical data make that statement incontrovertible. Hope that answers your question.... more
When I prepare a market analysis for a property, I also prepare an absorption rate report. This will tell the home owner what to expect if they price their home in different price ranges regarding days on the market, as well as, the price range that is most likely to sell. This report even shows the percentage of homes that have sold.
The last three properties I have listed the absorption rate was showing 15 out of 100 homes will sell in 180 days in their areas. This was reflective of the markets near downtown and on the southside of Des Moines. The 85 properties left on the market is what is driving the days on the market up.
This would explain why so many homes are sitting on the market and why the newer listings are selling faster since they are fresh to the public. The key is the price range for any seller. If you want your home to be in the percentage that sells quickly, then your home must show better and beat the price of the competition. This absorption rate does improve in other parts of the metro area. As one Realtor commented, each area will reflect differently in market time and price. It will be affected by the number of foreclosures or short sales that are in the neighborhood, as well as, the perceived popularity of the area. I hope this helps.
Pamala Johnson,
Broker Associate
Realty Xperts LLC
4230 Fleur Drive, Ste 2
Des Moines, Iowa 50320
Serving Iowa since 1994, licensed to sell real estate in Iowa
pamalajohnsonrealtor@msn.com... more
Are you one of many buyers today who have stable employment and good credit scores, but no down payment money? If so, you're not alone!As many of you know the banks have tightened down over the past several
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CLICK HERE http://AceofHeartsRealEstate.com and go to my website and you can do property searches anytime you want for FREE.
If you want a specialist who knows homes and can find you the best buy, call me anytime on my cell phone at 702-580-6101 and I will help you find the home you want at the price you want to pay.
Also, if you need a mortgage I can get you one and save ou money on interest and fees too!!!
Your Ace of Hearts REALTOR,
Louis J. Asmo
cell 702-580-6101
LouisAsmo@yahoo.com
http://AceofHeartsRealEstate.com... more
Difficult question to answer, depends on definition of "safe", my best suggestion would be to contact the Davenport police department and inquire as to types of calls to the area and checking on site for sex offenders if you have children.... more