The problem we have here with the Triangle MLS is that they rely on a compay called ListHub to upload all the listings to other websites. ListHub had issues with both Zillow & Trulia and have refused to upload to them. To make it onto these two sites, the listing company has to do a manual upload and by the way, unless Trulia has altered their course since being absorbed by Zillow, Trulia does not accept For Sale By Owners and that may be an issue as well.
One way to find foreclosure listings, is call a professional Realtor and they can send you all the foreclosure listings. However, in today's market, foreclosure listings are not always the least expensive listings. I suggest you give your Realtor your criteria on what you are looking for and the maximum price you are willing to spend and then from there you will get a list of properties that match your wants.
I worked new home sales for many years and what was common was for certain upgrades to be included as specials or perhaps the additional appliances ( Refrigerator, Washer & Dryer). Builders aill also typically advertise all or some amount of your closing costs will be covered if you use their lender......although if you showed up with a pre-approved loan, you would also possible get those anyway.
I would suggest not to discount looking at resales either as you can get some good deals on them and they are more negotiable.
If I can be of any service to you, I have 21 years of experience helping people like yourself purchase homes in Raleigh and the surrounding Triangle area. I know you will love living here as my wife and I have since 1993. I may be contacted by using the information under my picture or through my personal website shown below.
Lisa.... sounds like you are working to do the right things.. remember you want NO late payments. That is more important than having money down especially since there are opportunities for 100% financing as well as most or all of your closing costs can typically be negotiated for the seller to pay. If you manage to see this reply, please contact me using the info under my picture of via my personal website below. I have been assisting people like yourself with both purchasing and selling homes for 21 years now and would be happy to assist you through the process.
Refinancing to lower should have no affect but eventual positive on your credit score...just don't go out and purchase new. Another good thing to do is get your credit cards to reflect about 50% of use. I was told this by a credit counselor at a office meeting. Having your cards clsoe to full is bad and also having too much credit available is also not good. By the way, above 670 WILL get you a loan with just about any lender.
If there is anything I can do as a REALTOR to assist you, please don't hesitate to ask. I have over 21 years of experience helping people both purchase and sell homes in Raleigh and the surrounding Triangle area. My contact info is under my picture or you can take it from my personal website shown below. Also, if you don't know any local lenders, I have several that I work closely with and would be more than happy to provide their names and phone numbers to you. Just ask.
I have been assisting people both purchase and sell homes in Raleigh and the surrounding area for 21 years now. If there is anything I can do to assist you let me know. Sean is correct that we as agents can't comment areas of concern, but, I would help you find the best property meeting YOUR needs. Enough said.
You can contact me directly using the contact info under found under my picture or use my personal website shown below.... more
I'm also surprised about your what your agent told you? You have verifiable documentation and there isn't any reason you can't go back and renegotiate...especially if you are within your due diligence. The house sounds more like something I might run unless I got it for less knowing what you do now. If you give up on the house, I would also give up on the agent. Not working for you!!
What size home are you looking for? We are putting our home on the market soon in NorthWest Raleigh about 15 minutes to airport (not in flight path) and 15 minutes to the RTP, Crabtree area! This house has 4 bedrooms 3.5 baths and a full daylight basement that is unfinished, but provides an additional 2000 sq ft of space, plus a 500 sq ft walk up attic... lots of extra room to grow...
1 block from the Leesville Road Highschool with elementary, middle and high school all right there... kids can walk to and from school!
It is possible depending upon where you want to live... That price range may be more difficult with a "Raleigh" address but certainly is possible if you want to remain within Wake County. I've been showing homes in Wendell which is about a 15 minute commute to Raleigh ( my son bought a home there) and that price range is definitely fesible. Check out my website and use the home search tool. If you require any personal assistance, I have 21 years of experience in this area. Good Luck to you... more
I can see your agents point as you must realize, most agents have multiple clients going on...however in a hot market, I can fully understand the need to see a home as soon as it goes on. Sometimes waiting can mean loosing one before you see it. Ask your agent if he/she has another agent in the office they trust to show you a home in a pinch. I've done that in the past and will offer my friend a gift certificate to a restaurant to help me out. It cost me a few $$, but in the long run is best for my client and myself. Good Luck!!... more
Most mortgages have terms stating you cannot convey or transfer ownership of the property without paying off the balance due (unless it is an assumable mortgage, in which case the buyer needs to get approved by the current lender to assume the loan). So the current owner cannot transfer to you ownership of the home without the bank getting involved as well.
When in doubt, have a discussion with your own lawyer about what you and the owner are attempting to do. It may save you money in the long run.... more
Jennifer: My apologies for the delay in getting back to you on this...I've not been on Trulia for a bit.
To answer your question, while it would be tight, you possibly could make it.
As pointed out, how much you have to put down will factor in. FHA requires a 3.5% down payment, but there is the NC Housing Finance Agency program that can assist you in coming up with that.
They generally don't allow for a "back end" ratio (your housing expense and monthly obligations divided by your gross monthly income) in excess of 45%.
So, if you don't have any other debt, you might be able to squeeze under that limit. The FHA "Front End Ratio" (your housing expense - principal, interest, insurance, taxes, and MIP or PMI divided by your gross monthly income) is 28%. And while it's not unusual for an underwriter to disregard this front end ratio, especially if the file is strong otherwise, there is a reason that FHA wants to know what percentage of your income will be going towards your housing expense. As Ernie pointed out, do you really want to be house rich and cash poor?
Now, if you have other household income such as from a spouse or part time job that isn't being counted in, that is a different story. I would just want to be very comfortable that I could count on that income. So, I don't know if I would rely on roommates or gambling winnings, if that makes any sense?
Feel free to reach out to me if you have any additional questions or I can be of service.
There is a program that I use that provides 10,000 towards your down payment and closing costs. It is a zero interest and zero payment loan that is only due when/if you sell the home. I have closed using this program several times and would be happy to assist you. Also I use a 2,000 tax credit program, which enables you to receive a 2,000 tax credit for the life of your loan.
HERE ARE SOME OF THE REQUIREMENTS
1-Must not have owned a home in 3 years.
2-Must have been in the same line of work for 2 years
3-Must make more than 25k but less than 80k
4-Must have 1,000 to put into the deal.
5-640 minimum credit score.
Contact Andrew 954-394-7185 Text first Please!!!!!!!
It's hard when you ask on an internet forum, because there might be gaps in trulia's listings. I'd recommend finding a local realtor and specifying that you're looking for a timber home. It's a popular style, so you should be able to find something just about anywhere. http://www.simplyoregon.com.au... more