Home Buying in Montgomery : Advice

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Jane Barnett…, Real Estate Pro in Montgomery, AL
Jane Barnett Peak answered:
Is 533 Larkwood Dr "for sale"?
Looks like 533 is not listed. If you are interested in the home I will be glad to try to get in touch with the owner and see if they are interested in selling. You never know! My num ... more
0 votes Share Flag Tue Feb 12, 2013 Home Buying in Montgomery
Jeff Samuel, Real Estate Pro in Montgomery, AL
Jeff Samuel answered:
Can I find out who listed a property. It was on the market 10/11 to 04/12. In the Montgomery AL area.
I'm sure I can determine the listing agent and firm. Call me at 334-354-3165.
Jeff Samuel
0 votes Share Flag Thu Feb 7, 2013 Home Buying in Montgomery
Shanna Rogers, Real Estate Pro in Murrieta, CA
Shanna Rogers answered:
What percentage of the purchase price does the realestate agent get and when does he get his fee?
Hi Mparran,

All real estate commission is negotiable - there is no set amount. That said, the average commission a seller pays (the seller usually pays commission for both the selle ... more
0 votes Share Flag Mon Dec 10, 2012 Home Buying in 36117
Rodney Mason, Real Estate Pro in Atlanta, GA
Rodney Mason answered:
Hi please help ASAP my Lender Bank ask in pre approval a condition that to adjust the 203k loan to 203b loan is that possible with fannie mae homes ?
I don't really understand your question.

In order for a property to be eligible for regular FHA financing (203b), the property must meet minimum property standards. Until you have ... more
0 votes Share Flag Wed Dec 5, 2012 Home Buying in Montgomery
Keith Daniels, Real Estate Pro in Montgomery, AL
Keith Daniels answered:
If I purchase a 2-4 unit home & choose to live in one unit & rent the others, would I be considered an owner occupant or investor?
Yes you would! Whether you plan on using a VA Mortgage, FHA or some form of Conventional, you would be considered an Owner Occupant. A GREAT way to control Interest Rates & Down Payme ... more
0 votes Share Flag Wed Nov 14, 2012 Home Buying in Montgomery
Rodney Mason, Real Estate Pro in Atlanta, GA
Rodney Mason answered:
comparables in 36106
Hi Ed,
Your Buyer's Agent would provide you with comparables for any property that you are interested in making an offer on.
0 votes Share Flag Sat Jan 26, 2013 Home Buying in 36106
Michelle Wil…, Real Estate Pro in Montgomery County, AL
Michelle Williams answered:
What are my options if I buy a home and olan on relocating in 2-3 years? Is there any diufficulty renting out houses?
Generally speaking there is not it will all depend on the home, location, and price.
0 votes Share Flag Mon Oct 29, 2012 Home Buying in Montgomery
Michelle Wil…, Real Estate Pro in Montgomery County, AL
Michelle Williams answered:
Considering buyin a house in Montgomery, but may only stay here for 2 or 3 years. How is renting in the market? What are my options?
There are plenty of rentals on the market right now although, it would be best to invest in your future and buy a home.
0 votes Share Flag Wed Jan 30, 2013 Home Buying in Montgomery
Robin Davies, Real Estate Pro in 36066
Robin Davies answered:
Considering buying house in Montgomery, but may only be here for 2 or 3 yrs. Has it been difficult renting homes? What are my options?
I have been managing rentals for about 4 years. It comes down to the location of the home, the condition and pricing it appropriately at the time it is put on the rental market. It is h ... more
0 votes Share Flag Mon Oct 29, 2012 Home Buying in Montgomery
Darrell Hess, Real Estate Pro in Marietta, GA
Darrell Hess answered:
Is it average to pay about $4000 in prepaid fees to the lender or is this too high? That is not including insurance and property taxes.
o.O

4k in prepaids??? Can you elaborate? Are you confusing prepaids with closing costs associated with purchasing a property?
0 votes Share Flag Mon Oct 22, 2012 Home Buying in 36116
Laura Feghali, Real Estate Pro in Stamford, CT
Laura Feghali answered:
What is the difference between a FHA 203k and a FHA 203k streamline?
Hello Kim,
Here is a link to HUD's web site that explains the difference between a streamline and regular 203K loan. Basically, the streamline gives you a loan up to an additional ... more
0 votes Share Flag Wed Mar 5, 2014 Home Buying in Montgomery
Ron Thomas, Real Estate Pro in Fresno, CA
Ron Thomas answered:
Does a title search tell me the value or amount that the property foreclosed on?Would a homepath property have any liens?
A Title Search is one of the functions of a Title/Escrow Company:
They are searching the records for "clouded titles", Liens, encrouchments, easements; anything that would affect your ... more
0 votes Share Flag Mon Oct 15, 2012 Home Buying in Montgomery
kimmcelroy, Real Estate Pro in Montgomery, AL
kimmcelroy answered:
credit score is 687. Homepath Reno home. price: $38,000. Down payment of 19%. FHA, Homepath renovation, or FHA 201k?
Only way to truly know is to go look at home and put pen and paper to repairs we think it would need. FHA will cap at approx $30,000. Call me and I will go with you to see it and we c ... more
0 votes Share Flag Sat Oct 13, 2012 Home Buying in Montgomery
kimmcelroy, Real Estate Pro in Montgomery, AL
kimmcelroy answered:
Hi. If I purchase a homepath renovation home, would FHA finance it? Would repairs have to be made first? What is considered light to moderate repairs?
FHA might finance if there were no repairs called for, or if you use an FHA 203K (renovation) loan. Repairs would be added on to the top of the sales price, and repairs would be made a ... more
0 votes Share Flag Sat Oct 13, 2012 Home Buying in Montgomery
Jim Simms, Real Estate Pro in Louisville, KY
Jim Simms answered:
IF I PURCASE A HOME UNDER A BOND FOR TITLE AND PUT A LARGE DOWNPAYMENT TOWARDS THE HOME, WHERE WILL IT GO WHEN I GET FINANCED?
Your question sounds like you are considering an owner financed property until you are qualified to get a traditional mortgage. If I am correct take your large down payment to a casino ... more
0 votes Share Flag Sat Nov 10, 2012 Home Buying in Montgomery
Sandra Nickel, Real Estate Pro in Montgomery County, IL
Sandra Nickel answered:
Noticing median sales price in Montgomery is down a whopping 32% in 12 months.
Dan, the answer is this: the overwhelming majority of foreclosures in this marketplace were in the $100,000 and under price range, primarily $75,000 and under. These properties as REO ... more
0 votes Share Flag Sat Jul 21, 2012 Home Buying in Montgomery
Rodney Mason, Real Estate Pro in Atlanta, GA
Rodney Mason answered:
Could I buy a home with a credit score of 560?
For an FHA mortgage, most lenders require a 640+ credit score for the last 2-3 years now. Prospect Mortgage is one of the few direct lenders to offer an FHA 580-639 FICO loan program. C ... more
0 votes Share Flag Sat Apr 13, 2013 Home Buying in 36117
Spencer Hayes, Real Estate Pro in Montgomery County, AL
Spencer Hayes answered:
i it difficult to have a low cash offer accepted on a forclosed home?
It won't be difficult per say but in some situations it can be a process to have the offer accepted. I have submitted up to 8 offers on one property to get the price down enough fo ... more
0 votes Share Flag Mon Feb 9, 2015 Home Buying in 36108
Sandra Nickel, Real Estate Pro in Montgomery County, IL
Sandra Nickel answered:
What local variables are putting downward price pressure on homes within the Montgomery, AL garden district? What has happened to the local economy?
Dan, properties in the Montgomery market have declined 13% since their peak in 2006. The Garden District has, for the most part, fared better than other market segments. AND big, expen ... more
0 votes Share Flag Tue Feb 28, 2012 Home Buying in Garden District
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