http://www.trulia.com/voices/profile/Real_Estate_Pro-Pinecrest_FL-268581/The latest answers submitted by Melanie Dawn Molina Wood to questions asked on Trulia Voicesen-ushttp://www.trulia.com/voices/Home_Buying/removed-136474Answer by Melanie Dawn Molina Wood: Good afternoon Carlos. If your contract reads that the Seller must have the windows properly permited before your closing, I would hold him/her to that. They may suggest holding some of the seller's proceeds "in escrow" until the permiting work is complete. This is usually a safe course of action provided you have your attorney review the escrow agreement , there are time limits included in the agreement and there is a substantial sum of money held in escrow to ensure the Sellers do complete the work. One of the possible consequences of not getting the permits completed is that the City of Coral Gables will hold you responsible for doing so later. And if the work was not done to code, you could be facing costly renovations to bring the windows into code compliance and/or to pass city inspections. And even if the City of Coral Gables never addresses the issue, your buyer in the future may require you to complete the permit process years after the fact. You may want to contact a "permit expeditor" for more information about possible costs and consequences. If you have a Realtor, ask him/her for recommendations. If not, feel free to contact me if you want.Sat, 13 Jun 2009 13:10:52 PDThttp://www.trulia.com/voices/Property_QandA/Is_the_the_starting_bid_or_the_final_price_My_-107382Answer by Melanie Dawn Molina Wood: The house you are asking about went under contract on March 26th. $202,900 is the listed price. Once the transaction closes, we will be able to see what the final price was. Typically, a buyer can offer less than the listed price. However, when the property is a foreclosure in good condition and listed low for the neighborhood - like this one - there will be multiple offers and the final price is very often higher than the listed price. If you are interested in purchasing a home and need further assistance, please do not hesitate to contact me at 305-801-3133.Sun, 5 Apr 2009 15:29:54 PDThttp://www.trulia.com/voices/Property_QandA/hi_i_am_a_resident_of_GA_looking_to_relocate_to_mi-101984Answer by Melanie Dawn Molina Wood: Please give me a call at 800-889-9315 ex 128; ask for Melanie Dawn. Or you can email me at Melanie.Wood@FloridaMoves.com I specialize in relocations and am here to assist you.Mon, 23 Mar 2009 06:15:57 PDThttp://www.trulia.com/voices/Property_QandA/Brickell_Bay_Drive_-96682Answer by Melanie Dawn Molina Wood: Unit 3822 at The Club at Brickell Bay Plaza is listed for sale at $250,000. Trulia and other real estate web sites often pull foreclosure data from the county tax records which will indicate the dollar amount listed on the deed when the property transferred back to the financial institution, but will not have any relationship to the market value or the price it will be listed for. You have requested information about a number of properties on Trulia today. If you would like personal assistance on all of your real estate question, please give me a call directly at 305-801-3133.Sun, 8 Mar 2009 11:04:23 PDThttp://www.trulia.com/voices/Property_QandA/_Claughton_Island_Drive_-96602Answer by Melanie Dawn Molina Wood: Unit 708 currently has a contract, but there are serveral other lovely units currently available at Isola. Please give me a call at 305-801-3133 to discuss and schedule an appointment.Sun, 8 Mar 2009 06:04:40 PDThttp://www.trulia.com/voices/Property_QandA/Are_these_homes_only_for_sale_or_can_they_be_rente-96604Answer by Melanie Dawn Molina Wood: There is one home currently for rent in The Villas of St. Agnes. It is a three bedroom, two bath Key West style house. This community consists of 3 and 4 bedroom single family homes only; you will not find any 2 bedroom units here. If you would like further assistance, you may give me a call at 305-801-3133Sun, 8 Mar 2009 05:59:05 PDThttp://www.trulia.com/voices/Property_QandA/Brickell_Bay_Drive_-96606Answer by Melanie Dawn Molina Wood: Please call me or text me at 305-801-3133 to schedule an appointmentSun, 8 Mar 2009 05:36:25 PDThttp://www.trulia.com/voices/Property_QandA/If_my_condo_is_worth_of_what_it_was_worth_in_h-96384Answer by Melanie Dawn Molina Wood: Another point to keep in mind is that property taxes are paid in arrears. This means that the property value determined by the county was done as of January 2008 but you do not pay the taxes on that amount until late 2008/early 2009. In a rapidly declining market, your taxes were calculated on a higher amount than your property is worth today. When values begin to appreciate again, the reverse will be true.Sat, 7 Mar 2009 09:42:49 PSThttp://www.trulia.com/voices/Property_QandA/Is_this_price_correct_I_am_looking_to_purchase_in-96114Answer by Melanie Dawn Molina Wood: That is the per month rental price. Please give me a call to discuss what you are looking for. 305-801-3133Fri, 6 Mar 2009 09:38:50 PSThttp://www.trulia.com/voices/Property_QandA/how_do_I_find_the_listing_agent_information_for_th-95706Answer by Melanie Dawn Molina Wood: This property has a contract pending on it. Please give me a call for further information. 305-801-3133Thu, 5 Mar 2009 08:51:00 PSThttp://www.trulia.com/voices/Home_Buying/is_property_SW_pl_still_available_I_am_interest-77768Answer by Melanie Dawn Molina Wood: Good afternoon, Eileen The listing agent is a friend of mine, so I just checked to make sure that it is not only available on the MLS, but there are no offers submitted to the bank. The house is in good shape, too, so give me a call to see it and write up the offer. My number is 305-801-3133, or my email is Melanie.Wood@FloridaMoves.comTue, 6 Jan 2009 09:53:59 PSThttp://www.trulia.com/voices/Property_QandA/Is_this_property_for_sale_-61862Answer by Melanie Dawn Molina Wood: It does not appear to be. It is not in the Multiple Listing Service database, so it is definitely not listed by a Realtor. There is a possibility it is a "fsbo" but it is odd that there is no asking price or contact information. If you would like assistance to find a home to buy, please give me a call at 305-801-3133 or visit my website. We have many homes that ARE available in that same area.Sun, 12 Oct 2008 09:55:33 PDThttp://www.trulia.com/voices/Financing/does_foreigners_can_get_mortgage_now_days_in_orde-61149Answer by Melanie Dawn Molina Wood: Yes! Foreign nationals typically need to put at least 30% down, but the financing is certainly available. Keep in mind that lenders are requiring 50% down for certain newer condominium developments, but that is a separate issue. Give me a call if you would like recommendations for several lenders specializing in loans for foreign nationals. 305-801-3133Tue, 7 Oct 2008 18:01:12 PDThttp://www.trulia.com/voices/Property_QandA/ARE_THERE_ANY_LIENS_I_E_TAXES_MORTGAGES_THAT_T-60285Answer by Melanie Dawn Molina Wood: If they are not cleared at the time of closing by the Seller, all liens against a property become the responsibility of the buyer. This is why having a title/lien & permit search & title insurance policy is so important if you are the buyer. In addition, an unpaid water bill can create a lien against the property even if the water bill belonged to the previous owner or tenant.Fri, 3 Oct 2008 10:25:48 PDThttp://www.trulia.com/voices/Home_Selling/removed-59594Answer by Melanie Dawn Molina Wood: I've never heard of a condominium building completely forbidding rentals, but you need to take a look at your condominium documents for any restrictions. Some condominium associations restrict owners to one lease per year even if a tenant vacates early. If, for instance, you had your unit rented with a one-year lease but the tenant vacated after only 9 months, you would still have to wait until the full year was past before being able to lease out your property again. Other associations may restrict a property owner from renting out their unit until they have owned it for one or two years. This is to encourage 'owner-occupants' which improves the value of the property and makes the units easier to buy and sell. Do check the actual condominium documents (and any updated regulations) because your management company may be misadvising you. But do not disregard the written restrictions because it could land you in expensive legal trouble with your association.Mon, 29 Sep 2008 11:57:37 PDThttp://www.trulia.com/voices/Home_Buying/I_would_like_to_move_to_Kendall_Florida_What_ar-59334Answer by Melanie Dawn Molina Wood: Good morning! Kendall is an unincorporated area of Miami-Dade that is usually divided further into West Kendall and East Kendall. Kendall, in general, has a variety of single family homes, townhouse, and condominiums; some in gated communities. We also have "Downtown Kendall" with high & mid-rise condominiums in a more urban environment. Kendall boasts numerous "A" rated public schools, an excellent hospital, the second largest campus of Miami-Dade College. Kendall is my speciality and I grew up here. Please give me a call or email me so we can discuss exactly what type of home & amenties you are looking for so I can better advise you as to what neighborhoods you will want to look at. I can easily be reached at 305-801-3133 or Melanie.Wood@FloridaMoves.comSun, 28 Sep 2008 08:29:38 PDThttp://www.trulia.com/voices/Financing/What_can_I_do_refinance_after_bankrupcy_records-59124Answer by Melanie Dawn Molina Wood: Regina, I have to agree with Jill's overall answer. There are programs available to help property owners in your situation, but most require that the property is your primary residence. Your 2005 bankruptcy complicates matters as well. But if you would like to give me a call, I can refer you to an attorney who specifically handles these types of situations. My number is 305-801-3133.Fri, 26 Sep 2008 10:25:32 PDThttp://www.trulia.com/voices/Property_QandA/are_any_of_these_condos_for_rent_-59122Answer by Melanie Dawn Molina Wood: I see two currently available for rent. Give me a call for more details: 305-801-3133Fri, 26 Sep 2008 10:20:31 PDThttp://www.trulia.com/voices/Foreclosure/Will_prices_continue_to_fall_in_If_so_what_coul-58761Answer by Melanie Dawn Molina Wood: Good afternoon. The May 2008 issue of Money Magazine and several other sources do predict that our prices will continue to fall into 2009 at the rate of about 2% per month. However, this does not mean that the price of any individual listed house needs to be reduced. Many currently available homes are already priced to be excellent values. We also have micro-markets within Miami-Dade that have already stabilized and even increased. In addition, interest rates are predicted to rise, and loan downpayment requirements are getting stricter. They have eliminated the 'down payment assistance' programs, PMI insurance is going to be suspended for Miami-Dade and Broward County (which means you will have to have 20% down for a conventional loan) and FHA intends to increase their minimum downpayment to 3.5% in January. In other words, even with home prices continuing to fall into 2009, you may want to buy now because waiting may actually cost you more in downpayment and interest later. Give me a call if you would like a copy of the article referenced or any other information about the current real estate market: 305-801-3133 Web Reference:Wed, 24 Sep 2008 11:01:21 PDThttp://www.trulia.com/voices/Foreclosure/my_husband_bought_a_house_in_we_went_into_forecl-58238Answer by Melanie Dawn Molina Wood: Provided your own credit score remains high, and your income alone can support the loan amount, you should be able to obtain financing to purchase a new home. You will also have access to some excellent loan programs designed especially to help teachers with their home purchases. Do not hesitate to give me a call if I can be of further assistance: 305-801-3133.Sun, 21 Sep 2008 05:36:27 PDThttp://www.trulia.com/voices/Home_Buying/my_credit_score_is_and_i_have_down_payment_I_d-58029Answer by Melanie Dawn Molina Wood: I would like to add that there are wonderful loan programs designed especially for nurses, teachers, firefighters & police officers; but your credit score will still be an issue. Again, feel free to give me a call for more information. Perhaps together we can at least put together a plan for future homeownership.Fri, 19 Sep 2008 10:03:25 PDThttp://www.trulia.com/voices/Home_Buying/my_credit_score_is_and_i_have_down_payment_I_d-58029Answer by Melanie Dawn Molina Wood: Unfortunately, in the current market you will have a very difficult time obtaining conventional or FHA financing. The gift programs for downpayment assistance are ending this month, and the lenders I work with are usually looking for at least a 600 credit score. My suggestion is to look for a seller who is willing to finance, or looking for a home that you can rent with an option to purchase while you clean up your credit. Give me a call about exploring these possibilities: 305-801-3133.Fri, 19 Sep 2008 09:58:39 PDThttp://www.trulia.com/voices/Home_Buying/I_need_advise_I_made_a_verbaloffer_to_a_foreclos-50712Answer by Melanie Dawn Molina Wood: Good afternoon, Marquez. Verbal offers are unenforceable in real estate and it is highly unlikely that the bank is even considering yours. If you need assistance preparing a written offer to the bank, you can contact me or any of the local Realtors here. As to modifying your terms after the bank has accepted your offer, generally the answer is "no." In this case, though, since you have not actually made a written offer, you should now prepare the offer with the terms acceptable to you and have it presented to the bank asap. Please do not hesitate to call me if you need further help.Mon, 4 Aug 2008 14:51:30 PDThttp://www.trulia.com/voices/Market_Conditions/I_am_wanting_to_purchase_a_house_and_have_no_repre-42009Answer by Melanie Dawn Molina Wood: Good afternoon, Judith! First off, I fully agree with everyone who suggested that you hire a Realtor or a real etstate attorney. As Amit noted, a professional Realtor does not cost you anything yet you will have benefit of their experience and advice. Second, I agree again with Amit when he advised you to contact Coldwell Banker Home Loans. CBHL does not charge lender fees which will save you quite a bit of money in your total closing costs. They also have hundreds of loan programs to choose from and excellent guarantees to you as the borrower. Now my question to you: When you indicate that they want a $5000 'deposit', have you clarified with them whether this is your 'downpayment' or actually the 'deposit'? These refer to entirely different things. Your downpayment is who much of your own cash you are putting towards the purchase (not including costs to close). $5000 is approximately 3% of the $157,000 purchase price you mentioned, and this would be about the smallest downpayment possible in today's market. Your 'deposit', on the other hand, is the amount you put into escrow at the start of the transaction to ensure that you will complete the purchase. As others have noted, the higher the deposit, the more secure the Seller will be about your offer, but unless the Seller has already made it a requirement of sale, it does not have to be $5000. Moreover, your deposit is not in addition to your downpayment and closing costs. It is simply a part of the amount of cash you will need to complete the transaction anyway. Again, I strongly recommend that you sit down with a Realtor or a real estate attorney who can go over the documents you have. We can explain and advise you as to each item that is causing you concern. If I can help further, please do not hesitate to call me at 305-801-3133Tue, 24 Jun 2008 16:13:30 PDThttp://www.trulia.com/voices/Market_Conditions/when_a_house_is_a_short_sale_is_it_normal_to_offer-38181Answer by Melanie Dawn Molina Wood: Good evening, Raul. There is no "normal" with regard to short sale offers. The bank is interested in being repaid for as much of its loan as the specific market will allow. After an offer is submitted to them, they will order an appraisal or BPO (broker price opinion). In my experience, the banks are looking to get 70% to 90% of that amount, regardless what the original asking price is. Keep in mind also that "short sale" listings are marketed in different ways. Some will start at or near the outstanding loan amount, then reduce frequently until offers are made. This allows the listing agent and homeowner to show the bank that effort was made to recoup as much of the outstanding loan as possible. In other situations, the listing price may be very low in order to generate competing offers, much like an auction. As you can see, there is no single answer as to what should be offered on a "short sale." Have a reputable real estate agent prepare a market analysis for the property you are interested in. S/he can also look at the public records to find out what the loan amount is. Armed with that information, you will be able to present an offer that has the best chance of being accepted by the bank while still being a great deal for you!Thu, 12 Jun 2008 19:09:49 PDThttp://www.trulia.com/voices/Home_Buying/My_wife_and_I_have_signed_a_contract_to_purchase_a-40273Answer by Melanie Dawn Molina Wood: Rob, it depends on exactly what type of work was done and what city/municipality the condo is in. For instance, anything involving electrical or plumbing renovation is almost certainly going to require permits. Yes, you will be liable for those permits if you close on the property without addressing the issue. Depending on the situation, you may even be required to tear out all of the work done and/or bring the work up to current code. As others have said, you should speak to a real estate attorney about this. You may be able to require that the Seller hire a firm that specializes in resolving these types of open/non-existant permits situations.Thu, 12 Jun 2008 18:50:26 PDT