- 13 Answers
- 2 Useful Answers
I am a mortgage planner with Valley Team Mortgage in Salem, VA. I have been in this area since 2001. I started in mortgage financing in 1991 in Raleigh, NC and sold real estate for five years prior to that. I enjoy helping people find and buy homes !!! It is a big moment in a person's life. Its fun to be a part of it and help others work towards the American Dream.
Tom Floyd's Questions (1)
Sounds like he is doing a cost plus building project. Many people don't like to negotiate. They give you the price and you can take it or leave it. Maybe you should compare this quote with some others. That will give you the information you need. It sounds like the builder wants the agent to lower their commission. It is pretty normal for the seller to pay the realtors commission. They just don't ask you to negotiate it for them. Talk to your agent. Talk to more builders. Maybe you are getting a GREAT quote. You have to do some homework to figure it out. Don't rush into it. - Thu Mar 27 2008, 13:56
A 10-99 is for a contract employee (self employed). Therefore most lenders want a two year history of receiving the 10-99. Do you have two years? If you do, please contact me, I may be able to help. The lenders have tightened the guidelines quite a bit. The purpose is that if your income should stop, they don't want to have to foreclose. The three year rule is to count the income for at least three years or it is temporary and shouldn't be used to help you pay back a 30 year loan with less than 3 years of income. - Thu Mar 27 2008, 13:44
Its much like watching the weather on TV..... Somebody stands there and tells you what will happen tomorrow (recession, price drop, buy now its the bottom, or whatever), then if they are wrong, they go "gosh darn, i didn't expect that!" Predictiing the economy is exactly the same thing. No one can tell you. You can find an opinion on just about anything if you look hard enough. You have created quite a stir. I am also in the real estate business and take great pride in looking out for my clients. If you are happier renting, awesome !! - Thu Mar 27 2008, 13:38
There are closing costs when you buy, there are closing costs when you sell. Unless your house goes up rapidly (highly doubtful), you will not acheive enough gains in 2-4 years to offset the closing costs. Rent is a good deal for short term.... Owning is a longer term venture, especially now that the market is down. - Thu Mar 27 2008, 13:30
The market is picking up here in Roanoke Valley. I think the normal spring selling season is coming. - Thu Mar 27 2008, 13:24
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