Government Tax Foreclosure Properties All Locations : Advice

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Anna M Brocco, Real Estate Pro in Williston Park, NY
Anna M Brocco answered:
My home value dropped $30,000. I am wanting to purchase another home with a friend. I owe more than what it's worth. What do I do?
In order to best protect yourself and any other assets you have, do consult with an attorney before making any decisions...if hardship can be proven to the lender, a short sale may be a ... more
0 votes Share Flag Mon May 2, 2011 Foreclosure in Colorado Springs
Elizabeth Tu…, Real Estate Pro in Clermont, FL
Elizabeth Turner answered:
Is Orlando/Kissimmee a good area to purchase investment property?
Kissimmee/Poinciana, St. Cloud, Davenport, or Clermont are great places to purchase investement property especially if you are intending to rent the home(s) out long term (7 months +) ... more
0 votes Share Flag Thu Sep 17, 2015 General Area in Orlando
Don Kelbick,  in Miami, FL
Don Kelbick answered:
I'm a foreigner and i want to buy an apartment in Miami. What's the best way to buy? It is legally permited? Do I need a special permission?
Unquestionably the best way to buy is to find a qualified realtor in the area you want to purchase, look with him (or her) and pay CASH.

There are no restrictions on purchasing for f ... more
0 votes Share Flag Fri May 16, 2014 Home Buying in Miami
Brian Rayl, Real Estate Pro in Dallas, TX
Brian Rayl answered:
Do you think the Sale Price of Las Vegas Homes will drop by more than 5% in the next six months?
hey Philip,

In my opinions, it is not about the home values dropping. Instead, it should be about the interest rates rising.

I recently did a Market Update on my website as well ... more
0 votes Share Flag Thu Apr 28, 2011 Market Conditions in Las Vegas
Jim Hughes, Real Estate Pro in Anoka, MN
Jim Hughes answered:
I have a home in foreclosure in Minnesota. If I don't pay the Property Taxes how long until I lose my h ...
The bank will take your MN house long before Anoka County will. It could take 5-7 years for the county to actually take your home.
0 votes Share Flag Tue Sep 13, 2011 Foreclosure in 55303
Don Brown, G…, Real Estate Pro in Henderson, NV
Don Brown, GRI answered:
What do you think for investors to buy in zip 89149,89129 area? How's cash flow? What's the typical rent? Easy to find quality tenants?
That area is in the Northwest part of the valley. The amount of rent will be deternined by the type of property you purchase. Singe story or two stor...y the sq. footage...number of be ... more
0 votes Share Flag Tue Aug 14, 2012 Home Buying in 89149
Shanna Rogers, Real Estate Pro in Murrieta, CA
Shanna Rogers answered:
My ex-husband lives in the house by himself and is the only one on title. I am the only borrower and have been making the payments. Can I short sale?
The only person who can sell the house is the person on Title. They are the one(s) who have to sign the Deed at close of Escrow. You might want to consult a Real Estate Attorney to fi ... more
0 votes Share Flag Tue Feb 11, 2014 Home Selling in 90277
Eli Givoni-S…, Other/Just Looking in Boca Raton, FL
Eli Givoni-Short Sale Dept LLC answered:
Thanks for your responses. A short sale was suggested but it was mentioned that I still could be responsible for the shortage in the loan & sale.
You can still do a short sale and keep foreclosure off your credit. We can try to negotiate with your lender to let you off the hook for the deficiency. We have been successful with t ... more
0 votes Share Flag Thu Apr 14, 2011 Foreclosure in Los Angeles
Michael Emery,  in Minneapolis, MN
Michael Emery answered:
I want to walk away from my home. I have an underwater loan. I cannot work out a solution with my lender. Any suggestions?
Depending on the value of the property there may or may not be tax consequences. This is a question best answered by a tax professional.

In some instances, California allows for defi ... more
0 votes Share Flag Thu Aug 15, 2013 Foreclosure in Los Angeles
Scott Godzyk, Real Estate Pro in Manchester, NH
Scott Godzyk answered:
Is market value based upon sales appraisal value or discounted appraised value for tax purposes? Please r ...
Market value is what someone is willing to pay for yoru house today, in todays market. The value is based on listing and sales comparison. You take 3 of teh most similar comops sold wit ... more
0 votes Share Flag Fri Sep 23, 2011 Market Conditions in University Park
Tim Moore, Real Estate Pro in Kitty Hawk, NC
Tim Moore answered:
what are the costs associated with a home purchase?
Obtaining a loan has certain costs, you would be well advised to go to a bank and ask to speak to the loan officer and ask them to break down the costs for you - it's what they do. ... more
0 votes Share Flag Sun May 1, 2011 Financing in Parker
Ute Ferdig -…, Real Estate Pro in New Castle, DE
Ute Ferdig - Atty. Negotiator answered:
I'm just wondering why home-owners that are faced with foreclosure don't just rent out the property and find ...
Hello Funjunk. Welcome to the Auburn area. You have some good questions and there are plausible explanations for what you may have observed. Many home owners have mortgage payments t ... more
0 votes Share Flag Sat Jul 21, 2012 Financing in Auburn
Thierry Roche, Real Estate Pro in Fairfax, VA
Thierry Roche answered:
Hello, I would like to sell my condo soon as possible. What are my options other than a foreclosure and short ...
The tax question you are asking pertains to the rule that you must live in a condo 2 out of 5 years in order for the gain or profit to be tax free. But if you did not profit, (you said ... more
0 votes Share Flag Wed Mar 30, 2011 Home Selling in Fairfax County
Ratay Team, Real Estate Pro in Boulder, CO
Ratay Team answered:
Is the government plan to encourage modifications a better approach than doing nothing?
Good food for thought for a Monday!
0 votes Share Flag Mon Sep 26, 2011 Foreclosure in Boulder
Kevin Olson,…, Real Estate Pro in Colorado Springs, CO
Kevin Olson, Jessica Laude answered:
We've lost out on two major offers- is there a winning strategy to submitting offers and counter offers?

Are you working with an agent, specifically an REO buyer agent? I'm not suggesting anyone in particular, just someone who writes offers on REOs day-to-day. The terms of yo ... more
0 votes Share Flag Sat Mar 26, 2011 Home Buying in Los Angeles
Brenda Feria, Real Estate Pro in Richmond, VA
Brenda Feria answered:
What are the advantages and disadvantages of offering owner financing?
Bondo, First of all, if you are going to offer owner financing, you need to have a real estate attorney set up the paperwork involved with that. There are both advantages and disadvan ... more
0 votes Share Flag Wed Mar 23, 2011 Home Selling in Palm Coast
Brianna Rogan,  in Friendswood, TX
Brianna Rogan answered:
My husband and I are looking to buy a house and we arent sure where to start. Can you help?
Its great that your are seeking advice on your first step many buyers dont and waste their time. Your first step is checking into to financing to make sure you know your buying power be ... more
0 votes Share Flag Thu Feb 28, 2013 Home Buying in 77845
Bill Eckler, Real Estate Pro in Venice, FL
Bill Eckler answered:
When do you forsee the market changing? Specifically in the Tampa area. When do you think housing prices will increase/ foreclosures will decrease?

The real estate market is changing now.....many experts see the market as "bumping along the bottom." What this means is that there will be slight increases and de ... more
0 votes Share Flag Fri Nov 16, 2012 Market Conditions in 34606
Nadine Mauro, Real Estate Pro in Lake Worth, FL
Nadine Mauro answered:
had to move for job relocation. Option was stay and be out of work. What can we do with the house? Its underwater
Hi Nmbound,

One of your options would be to do a short sale on the house. If you had to move for employment reasons and the revenue from the rent is not sufficient to pay the mo ... more
0 votes Share Flag Thu Apr 7, 2011 Foreclosure in 33322
Tyler Brown, Real Estate Pro in Cardiff, CA
Tyler Brown answered:
Rescind a foreclosure? How often does this happen sucessfully?
That is not likely to happen. Foreclosures do get rescinded, but it's often from the homeowner side. Did it sell to a 3rd party in eagle for cash? It's unlikely they would hav ... more
0 votes Share Flag Thu Aug 20, 2015 Foreclosure in Oceanside
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