Hi, congratulations on your decision to pursue a career in real estate. This is a great time to join the real estate industry. The first step is to take a course which you complete in the classroom or online. Then you get a licence. I am with a real estate company that provides you with more than just commissions; residuals, retirement... Please give me a call today for more information. I can be reached directly at; 202-640-0100.... more
Catherine Purcell is an expert. She is a former realtor and current licensed mortgage originator.
She has been in the finance and real estate.
FAIRWAY INDEPENDENT MORTGAGE CORPORATION
Contact: Catherine Purcell
You'll be able to refinance if you have 10% of the home value in cash on hand. Use mortgage refinance calculator http://www.mortgagerefinance.com/Mortgage-Calculator/Mortgage-Refinance-Calculator to see if its worth while... more
I have a legally zoned in-laws appartment in a basement in Montgomery County Maryland. It was installed and fully inspected by the county! There are guidelines in Montgomery County about who is allowed to live in the in-law appartment: it must be a relative like a parent but a disabled adult child and a caretaker are also legal occupants. The county has you sign an agreement that stipulates whe is living in the in-law appartment and they call you on an annual basis and come out to check that the people living in the space are who you say they are. This is all legal and above board. Check with the county zoning department for clarifaction... more
You home value is based on a number of things, but the CMA fo selling purposes would go as follows, find homes in three levels to estimate a fair market value. before we can make an estimate we need to find similar homes in size, room count, and neighborhood and if needed prorate homes to fit these qualities when not nough homes matc te description! Lets take the average 3/2/2 which is 1800 square feet on a corner lot with a fenced in yard. We will look for the very same qualities in homes listed in the last three month, we will look at homes that are pending sale at the moment, and we will look for homes that have sold in the last 3 month in needed for house sake as much as 6 months. We will find tree homes in each level so that would be 3 for sale now, 3 pending sale, and 3 tha have recently sold. We add the three in each level and devide by three, this is te average for each level, ten we add those numbers together and dive by three, this is a good CMA.
3 homes for sae: $170,000 $180,000 & $175,000 Add and devide by 3 = $175,000
3 homes Pending: $180,000 $190,000 & $185,000 add and devide by 3 = $180,000
3 homes sold: $175,000 $165,000 & $170,000 add and devide by 3 = $$170,000
The average of each level: $175,000 $180,000 & $170,000 add and devide by 3 = $175,000
My CMA would say that I suggest you price your Home for $175,000
Do you understand you house value from our point of view, if yo want a totally accurate value of your home, you would have to pay an appraiser to give yo an official value of your home.... more
If you are planning on purchasing in Montgomery County, the Housing Opportunity Commission (HOC) offers financing programs available to first time home buyers. They also provide closing assistance (in the form of a loan) if you work in Montgomery County as well. They require you to work with some of their approved lenders but there are plenty of options to chose from. It's great that you are starting to plan ahead. Please contact me if you would like additional information. I encourage you to find out more information about MC HOC and take advantage of the programs available. Good luck!... more
If you would like a local lender, I would be happy to refer you to the one that does the majority of my business. Just give me a call and I will give you his name and number. That way you can discuss your concerns and questions one on one. Yes, you will need a new appraisal.
In addition to the responds you have received, I will consult with your Loan Officers regarding EEM (Energy Efficient Mortgage). The repairs and improvements may qualify as energy efficiency that reduces your utility cost, tax break, and an escrow for you to do the work.