Sara Rich

Dear Tony,

My suggestion to you is to contact a real estate attorney to get the definative answer on this issue. We as REALTORs cannot legally answer legal questions and should not. Who was set up to close the purchase? Call them and ask this question to them. This way you will be sure that you are getting the BEST advise.

Let me know if I can be of any service in the future that is within my realm of expertise. This fine line of real estate law is not.

Have a blessed day.

Sara Rich
Rich Properties
704-541-9131 - Thu Oct 16 2008, 04:50

Dear Dan,

The answer to your question depends alot on the location. I know that the "Location, Location, Location" as being the 3 most important things in real estate is used as a joke, but it really is true. What type of neighborhood are you in and where is it located. What are other houses of the same size as your current house selling for in you neighborhood? How much are houses with the square footage that your house will be after the addition selling for? These are 2 major questions.

Before this market slow down, how was your neighborhood appreciating?

Do you plan to sell the house immediately or do you plan on enjoying the space for a while first? All of these questions need to be researched before an informed answer can be given. If you will let me know what subdivision or area the house is in, I'll see what I can find out.

Let me know how I can be of service to you.

Sara Rich
Rich Properties - Wed Oct 15 2008, 06:24

Dear Margaret,

When you do talk with a loan officer to get pre-qualified, be sure to get an idea of your interest rate and how much you need to have for a down payment as well as the amount that you are pre-qualified to borrow. Then ask the loan officer to give you what your monthly payment should be with current interest rates and the maximum loan amount. I suggest this because you need to know if you will be comfortable with that house payment each month. Besure that they give you the total payment with the insurance and taxes escrowed. Remember, you do not have to buy a house that is at the top of what you are qualified for. IT is often better to buy a house gives you monthly payments that you are confortable with.

Yes, there are great tax write offs with owning your own home. There are also expenses that if you have been renting the landlord has been paying, such as repairs to appliances or plumbing. You don't want to buy a house that takes so much of your income that you can't enjoy living in it or keep it in good repair. It is often even fun to improve the house.

If you get the approximate interest rate and want to play with what payments will be if you vary the price house you buy, I can help you with this information. Your lender may also be willing to run you several variations.

Let me know how I can be of service to you.

Have a blessed day.

Sara Rich
Rich Properties - Thu Sep 18 2008, 07:14

Dear Margaret,

I'm delighted to hear that you are starting the search for your first home. It is an exciting and slightly scary time. This is a good time for first time home buying as we are in a definite Buyer's Market. I suggest that at least before going to look at any home, you get pre-qualified by a reputable loan officer. If you belong to a credit union, they often have very good products that cater to their members. Otherwise, my favorite lender in the Charlotte area is Myers Park Mortgage. They are a mortgage brokerage which means that they can deal with most of the major mortgage companies and choose the program that best meets your needs. The advantage that they have over most mortgage brokerages is that they underwrite and fund their own loans. This means that you have the advantage of many lender's products but are still working with a local underwriting and loan processing company. I have had a lot of problems when the loan companies underwriters are in another state and don't understand our market. I would suggest that you contact Jeff Furr who is a ver honest loan officer at Myers Park Mortgage. http://(www.JeffFurr.com)

IT is also good to take a look at a number of real estate agents to see who best meets your ideas or appears to best be able to educate you and help you thru this process. As I mentioned, it can be a scary process to anyone who is going thru it for the first time. This is because it is a BIG investment. You need someone who you are confortable talking with and who will give you the time and service that you need. You also need someone who you trust and are willing to follow their directions and guidance. You need a Buyer's Agent who is truly looking out for your best interests. I suggest that you check out the websites of any agents who you are considering. See how much information and help they provide on their websites. Check out the testimonies or referrals from other clients that the agent has worked with. Then talk with a several of these agents either in person or on the phone to see whether you can communicate with them well. You can use the Internet or Realtor.com to find agents from both small and large companies.

Of course, I feel that I can help you, but you need to decide for yourself who you are comfortable with. I have represented quite a number of first time buyers in my 11 years as an agent. I have helped both of my own daughters buy their first homes. I can give you references from first time home buyer's who I have helped.

Please check out my website and feel free to email me or call me with any questions that you have. You can search the entire MLS on my website to see what homes are available in the area that you want to live in. (Be sure not to look at houses that are too high priced until you are pre-qualified.)

Let me know how I can be of service to you.

Have a blessed day!

Sara Rich
Rich Properties http://www.RichProperties.net - Wed Sep 17 2008, 13:25

Dear Nannie,

I have a house listed on the website used by Section 8. I do property management as well as sales. I am on vacation at the moment so I don't have all of my information with me. I'll contact you again when I get back to the office tomorrow.

Sara Rich
Rich Properties - Fri Sep 5 2008, 04:43

Dear Mike,
Welcome back. You will find some changes but not too much in 4 years. South Charlotte is still a great place to live. You might really like the SC area of Indian Land just down Hwy 521 from Ballantyne. I'm told that the schools are good and I really love the sense of community in the Indian Land/Fort Mill area.

I'm out of town on vacation at the moment, but as soon as I get back I'll send you some additional information. Please feel free to go to my website to search for homes by using the second button on the left side of the site. I also belong to the SC MLS so you can search there also.

Let me know how I can be of service to you.

Sara Rich
Rich Properties - Fri Sep 5 2008, 04:38