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About Me
Sharon Smith Realtor:
Licensed in 2005, in the State of Virginia.
Graduate of Alpha College of Real Estate, Graduate GSH RightStart™ Program. Sharon Smith came to GSH from Nursing in 2004.
Benny Smith ABR, GRI:
Licensed in 1996, in the State of Virginia.
Graduate of Tidewater Com Real Estate course, GRI (Graduate Realtor Institute), ABR
(Accredited Buyer Representation, BA (Bachelor of Arts Degree in Business Admin),
EMCS (SW) Smith joined GSH prior to retiring from the US Navy in 1996
Both are Members in good standing of the following organizations.
National Association of REALTORS®, Virginia Association of REALTORS®, Hampton Roads Association of REALTORS®,
Full time realtors; our commitment to you is simple.
From start to finish, we will be with you every step of the way. We are experienced in
buying and selling in Norfolk, Virginia Beach, Chesapeake, Portsmouth, and Suffolk.
Experience makes all the difference.
Our experience helping buyers and sellers includes among others, new homes, existing
single family homes, condominiums, building lots, multifamily, and apartment buildings.
Benny has experience with helping new investors succeed, with bank owned, re habs,
government owned, and foreclosures.
When we work for you, you’re #1!
Buying and selling a home can be stressful. But is does not need to be that way for you. As two experienced full time professionals we stay on top of all the details so you can live your life as you choose. From start to finish we pledge to be there for you.
Licensed in 2005, in the State of Virginia.
Graduate of Alpha College of Real Estate, Graduate GSH RightStart™ Program. Sharon Smith came to GSH from Nursing in 2004.
Benny Smith ABR, GRI:
Licensed in 1996, in the State of Virginia.
Graduate of Tidewater Com Real Estate course, GRI (Graduate Realtor Institute), ABR
(Accredited Buyer Representation, BA (Bachelor of Arts Degree in Business Admin),
EMCS (SW) Smith joined GSH prior to retiring from the US Navy in 1996
Both are Members in good standing of the following organizations.
National Association of REALTORS®, Virginia Association of REALTORS®, Hampton Roads Association of REALTORS®,
Full time realtors; our commitment to you is simple.
From start to finish, we will be with you every step of the way. We are experienced in
buying and selling in Norfolk, Virginia Beach, Chesapeake, Portsmouth, and Suffolk.
Experience makes all the difference.
Our experience helping buyers and sellers includes among others, new homes, existing
single family homes, condominiums, building lots, multifamily, and apartment buildings.
Benny has experience with helping new investors succeed, with bank owned, re habs,
government owned, and foreclosures.
When we work for you, you’re #1!
Buying and selling a home can be stressful. But is does not need to be that way for you. As two experienced full time professionals we stay on top of all the details so you can live your life as you choose. From start to finish we pledge to be there for you.
My Q&A
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Benny & Shar…'s Questions (0)
Benny & Shar…'s Answers (12)
Benny & Sharon Smith answered:
Hello Christina
Sounds like you know how much you can qualify for and that should be what you can afford. So I will answer the other questions. That $7,500 incentive is an interest free loan that will be paid back. $10K down is not too much in todays market, Also there is the issue of closing costs and prepaids and lets not forget condo association fees. I recommend you check at least 3 local lenders to verify you are getting the best rate and terms, Not just the interest rate but the real cost of the loan. Good Luck. Benny
Sounds like you know how much you can qualify for and that should be what you can afford. So I will answer the other questions. That $7,500 incentive is an interest free loan that will be paid back. $10K down is not too much in todays market, Also there is the issue of closing costs and prepaids and lets not forget condo association fees. I recommend you check at least 3 local lenders to verify you are getting the best rate and terms, Not just the interest rate but the real cost of the loan. Good Luck. Benny
Benny & Sharon Smith answered:
Hello Allison
The agen you are looking for is one who can give you prices where you can expect to sell in one week, one month, three months, or is normally the case in Western Branch up to six months. After that you need to do absorbton rates to look at the number of homes avail as compaired to the number actually selling. This can be used to determin the price you need. Next comes deciding the agent who can get this price in the best time frame. Dont be fooled, into selecting your agent buy price. The price it sell for at various time lines is a constant. The market determins that price. For example no amount of advertising will sell a $300,000home for $600,000. However less than desirable marketing can reduce that $300,000 home from selling at the proper time. Marketing takes time and money. Agents that have listings can afford to list yours because we have marketing paid for in bulk, Such as Realtor.com, Trulia etc. Good luck. We would like to apply for the Job of selling your home. Just give us a call.
The agen you are looking for is one who can give you prices where you can expect to sell in one week, one month, three months, or is normally the case in Western Branch up to six months. After that you need to do absorbton rates to look at the number of homes avail as compaired to the number actually selling. This can be used to determin the price you need. Next comes deciding the agent who can get this price in the best time frame. Dont be fooled, into selecting your agent buy price. The price it sell for at various time lines is a constant. The market determins that price. For example no amount of advertising will sell a $300,000home for $600,000. However less than desirable marketing can reduce that $300,000 home from selling at the proper time. Marketing takes time and money. Agents that have listings can afford to list yours because we have marketing paid for in bulk, Such as Realtor.com, Trulia etc. Good luck. We would like to apply for the Job of selling your home. Just give us a call.
Benny & Sharon Smith answered:
I forgot to answer the question of reasonable mortgage loan. That depends on your credit and debt load. I had this situation last week but recommended a couple wait for six months, giving them time to improve their cash flow. Just because you can doesn’t mean you should by. Every case is different. But if you want a rule to follow try this: A loan is not reasonable if it is the max you qualify for.
Yes there are programs but don’t get caught in a deal you can’t win. There is so much to keep in mind her and you have been given good advice already. I would like to add. Norfolk is a tricky market. Only a local agent will know what the city is doing to a particular block or area. Wards corner is a particular item on many programs some funded others never will be. Also the FHA programs that allow 100% financing do not allow for fixer uppers. In this area I have seen dozens of such properties and only one would pass FHA or VA guidelines. Go to a civic league meeting and learn more before buying in this area. My best advice for you is get with myself or some other Norfolk agent who can direct you to lenders that are experienced with all FHA Loan types. Interview at least 3 agents before signing an agency agreement. Then use the agents tools to screen all the properties that make sense for you. To start you can find out more about all the homes in this area, police statistics and schools at buyahomenow.com
Benny & Sharon Smith answered:
Great long answer form Mr. Tepper. I agree with his statements. One more option I wont to add is this
If you are in a position where you are willing to go this route and you are recieving less than 10% of the properties value from the companies that advertise 'We buy houses" croud, then look for a realtor who will buy the home on option with that amount up front as escrow. You get the money now and some more later when it closes. I have done this for people who had to sell, and everyone involved was happy. The eventual buyer bought below market, my customer made much more than they would have otherwise, and I as the investor/realtor did good as well.
If you are in a position where you are willing to go this route and you are recieving less than 10% of the properties value from the companies that advertise 'We buy houses" croud, then look for a realtor who will buy the home on option with that amount up front as escrow. You get the money now and some more later when it closes. I have done this for people who had to sell, and everyone involved was happy. The eventual buyer bought below market, my customer made much more than they would have otherwise, and I as the investor/realtor did good as well.
There are some varations but the bottom line is you get less for your home than a realtor can get you. For example I just saved a navy couple from doing the buy as is thing. They were offered $140.000 with an open ended contract to close in 21 days. I listend and closed the home in 60 days at $199,000. I could have gotten more but they wanted to close quick. I usually see them offering less but they new the clients owed over $130,000 on the home. No investor is going to give you market value for your home. They need to have a comfortable profet margin to ensure success. Your choice is give your equity away or sell it at a fair price and keep what you have earned. Is 45 days to long to wait for $44,000 in your pockted?
Benny & Sharon Smith answered:
One more thing to keep in mind on these properties. When looking at crime stats you cannot take zip codes as a good indication of the area. Norfolk is an old city where a zipcode can have great schools with million dallor homes and less desirable schools with $100.000 townhomes. All of the the older historic cities I have knowledge of have this siutation where you must look at neighborhoods block by block to choose the best for your money.
Pinewell is considered safe by most who live there. You can check out the police stats, schools, resources, etc for all of Norfolk at my resource center buyahomenow.com. That way you can learn about each area in the city and make up your mind which neighborhood is a good fit for you. Welcome to Norfolk. My city has much to offer you and your family.
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