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Melvin List, Real Estate Pro in Florida
Melvin List answered:
Is Fannie Mae "HomePath" a good deal? I have located a foreclosed home with the homepath option.
If you can go with the Hompath financing I would use this option. The rate might be a little higher but with out PMI or MIP the APR is usually better than your other options.

PS. I ... more
0 votes Share Flag Wed Aug 26, 2009 Financing in 64082
Trisha Lee, Real Estate Pro in Columbia, MO
Trisha Lee answered:
How do you really know if there are other offers or if the seller, especially if bank reo, is just trying to?
Brittany -
No, there is no law that says you must prove there is another offer but REALTORS abide by a professional code of ethics where they cannot misrepresent information in a trans ... more
0 votes Share Flag Mon Aug 3, 2009 Foreclosure in 64082
Trisha Lee, Real Estate Pro in Columbia, MO
Trisha Lee answered:
I made an offer on a reo property which the bank counter offered. Within two hours of their counter offer, I
Brittany -
I ran into this exact situation today. My buyer wanted to put an offer on a property that has just come on the market and there was already on offer in the works (just like ... more
0 votes Share Flag Sat Aug 1, 2009 Foreclosure in 64082
Cathy Counti, Real Estate Pro in 64081
Cathy Counti answered:
What percent are builders taking off of asking price for new construction that is not selling in Lees Summit?
The best way to research this is to look at the original asking price of the home, how long it has been on the market and how much the sales price has been dropped. You can find all of ... more
0 votes Share Flag Tue Jul 14, 2009 Home Buying in 64082
Angela Kunzl…, Real Estate Pro in Lone Jack, MO
Angela Kunzler answered:
In the Lees Summit, what % off of asking price are banks taking on REO properties today?
In my opinion they have really firmed up on their asking price in the last few months. Homes that would have take $10,000 off at the first of the year I have had to fight to get it at $ ... more
0 votes Share Flag Mon Jun 22, 2009 Home Buying in 64082
Cathy Counti, Real Estate Pro in 64081
Cathy Counti answered:
Will foreclores rise in the Lees Summit 64081 and 64082 areas in the next 6 to 12 months?
Yes, there will be more foreclosures. We just had a meeting in St. Louis with Jay Pappasan from Keller Williams University and he said that there are many more adjustable rate mortgage ... more
0 votes Share Flag Sun Jun 21, 2009 Market Conditions in 64082
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