Kris Wales

I'm a:	Real Estate Professional
Location:	48051
Web sites:	Macomb County Michigan real estate

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About Me

Kris Wales is a real estate professional with RE/MAX Advantage 1, Inc. Kris is a full service agent offering both buyer services and seller services in the Metro Detroit area.

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Kris Wales's Answers (3)

I was told that you cannot buy a condo, unless it is approved by the FHA. I am looking at some that are not

Asked Fri Apr 4 2008, 14:35 by Leslie Roe - 48093 - Home Buying - 12 answers

Kris Wales answered:

Hi Leslie,

I just had a buyer client close on a condo in Warren. She was using a FHA mortgage, and no,
the condo wasn't on the approved list. Her mortgage lender was able to obtain a "spot approval"
for the condo.

It was quite a simple process: The lender provided a form for the condo management company
to fill out. On it were approximately 12 questions. It took all of 48 hours for the management
company to complete and another 24 hours for the spot approval from the underwriter.

Do not let it deter you. It is quite possible that the 4 units you are talking about were issued
"spot approvals" also and the complex is simply not in HUD's approved list.

Good luck to you and enjoy your new home!

Kris Wales
RE/MAX Advantage 1, Inc.
http://macombhomes.com
http://activerain.com/kriswales
http://chataboutmacomb.com - Wed Jun 18 2008, 12:49

What is the length of time that a house is on the market before it sells?

Asked Tue May 20 2008, 10:15 by Charlie - Eastpointe - Home Selling - 4 answers

Kris Wales answered:

Hello Charlie. I noticed you are in Eastpointe and logged onto our local MLS to check the statistics
for Eastpointe during the month of April 2008.

30 homes sold (closed) in Eastpointe during that time, however there were 434 homes on the market
at the time. (That means there is alot of competition for each individual home. Supply and demand
is always one important aspect to selling your home.)

The average days on the market however in Eastpointe for April of 2008 was 69. That number is much lower than it was last year, and I personally believe that it is because homeowners are realizing the importance of pricing their home to sell and starting to understand the risk of overpricing their homes.

If you have any further questions please don't hesitate to call me.

Kris Wales
RE/MAX Advantage 1, Inc.
586-840-1876 (direct line)
http://chataboutmacomb.com
kwales@remax.net - Thu May 22 2008, 03:57

Do you have to use the same real estate sales person to buy new home that sold old home?

Asked Wed Jun 20 2007, 09:22 by Jan - Warren - Quality of Life - 11 answers

Kris Wales answered:

Hello Jan,

No, you are under no obligation to have the agent that is representing you on your home sale represent you on the purchase of your new home *unless* you have already signed a buyers agency contract with him/her.

Many people choose 2 agents, it all depends upon your personal comfort level with that agent.

I hope all of the answers above helped to not only answer your question but to put your mind at ease.

Sincerely,

Kris Wales
RE/MAX Advantage 1, Inc. - Tue Sep 11 2007, 13:30

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