Kathleen Kelly

Frame just means that it is built on the site, not a modular or a mobile home (trucked in). Wood framing is the most common for houses, but some builders are looking at steel. You might have heard the terminology "we got it 'framed in' " if you have ever been on a construction site. That is when they have the wall joists and rafters (the frame) up. Your exterior finish can be what ever you want it to be.

It is easier to build equity in a frame house than the alternative modular or mobile home. - Mon Sep 3 2007, 19:00

Hi Lisa!

I just pulled up several ranging from $79,900 for a 2 bedroom / 1 bath / 862 s/f to $265,090 for a 3 bedroom / 3 bath / 2,839 s/f.

The easiest way for you to get a list is to go to my website, http://www.kathleen-kelly.com , click on the red "Click to search local listings now", then specify condo/townhomes and Hermitage. You should get about 5 pages and each page will have a Google map for easier reference.

Lisa, let me know if I can help you with anything else; I'd love to show you some of the Hermitage townhomes!

Kathleen - Sat Sep 1 2007, 18:35

Any time the information we provide is inaccurate it is grounds for an error suit. An example of an error would be if I misquote the square footage of the home or the school zoning. Omissions is when material information is not divulged and it’s a little trickier than an error because we, as agents, are to disclose defect information, but if a seller does not divulge the information to me, I’m not a general contractor / home inspector, so what defects should I reasonably be able to discover myself? I had a buyer one time that found out after moving in that there was trouble with the sewer drain. After the neighbors told him that it had been an on-going problem for years, he sued. Everyone.

Most E&O policies have a list of exclusions for coverage. Mold and other environmental issues are big ones for exclusion, and obviously, fraudulent / criminal acts, discrimination, mishandling of funds, stuff like that we are totally on our own.

It’s common practice here to have a blurb in MLS remarks that all information is believed to be accurate, but must be verified by the buyer. - Tue Aug 28 2007, 18:12

Two words come to mind immediately: due diligence. Vacancy rates are still rising, retailers are opening fewer stores, but rents are also increasing. In general, strip malls are considered iffy right now, but as with anything real estate related, it’s all about location, location, location. There are a lot of factors that go into determining ROI and the following website is a great place to start to help you understand it.

This is such a large financial decision, you are going to want to do your homework, take a class, hire a professional, whatever it takes to make sure you are making a sound investment.

http://ezinearticles.com/?Do-the-Diligence---Find-the-Commer…

Good luck to you! ~Kathleen - Tue Aug 28 2007, 15:05

Ute,

First, unless a buyer goes “credit crazy” and has their credit pulled by several sources, mortgage or otherwise, 2 mortgage credit pulls alone will NOT adversely affect their credit score.

Second, if you read my entire answer, I clearly said that is what’s going on in MY market. Could be different in yours and both of ours could be different than every other agent on here…. In my market, that’s what we’re doing because this is a new day in the mortgage industry and no one wants to get a day or two from closing and “poof” have no loan program. No loan = no sale for the sellers = no new house for the buyers = no paycheck for the rest of us. You’d better believe we’re being cautious! Buyers, sellers, and agents alike.

Third, my information comes straight from the horse’s mouth; we are learning these things from the local branch of a national lender, and our in-house lender backs this process.

You know, it’s entirely possible that I, most realtors in my area, and national lenders are way off base about the whole thing, but, then, you think a pre-approval letter, in this mortgage climate, is good for 3 months…. - Tue Aug 28 2007, 11:30

Joseph,

The real estate market is in a very different environment right now. Gone are the days that a pre-approval letter is good for months and buyers were in a “better” position with one. The mortgage crisis has created a climate where not only should you have one, you must have two! And a pre-approval letter that is more than a week old is almost worthless today. The reason is that mortgage companies are cutting loan programs left and right and even people with good credit are finding that the loan they got pre-approved for a couple of weeks ago is no longer available. Whether they qualify for another program will mostly depend on if they are no-doc or low-doc; if that is the only way they previously qualified to go, no more mortgage loan for them!

In my market we are telling our buyers to not only get pre-approved, but get pre-approved through two different reputable lenders, and we are advising our sellers to request that the buyer be double pre-approved and to ask questions to find out what and how many hoops the buyer needs to jump through to actually make it to the closing table BEFORE accepting an offer.

It is a crazy mortgage climate we are in right now, but still very much a buyer’s market in much of the country. If you take care of your stuff (your hoops) on the front end, get pre-approved through two reputable lenders, and start looking, selling agents will take you very seriously and you will have a strong position to bargain for an even better deal.

Happy hunting! ~Kathleen - Tue Aug 28 2007, 03:29