Call up a local agent who will answer all of these questions for you as well as determine if you will have a profit or not.
Have a great day;
CEO & SR Credit & Mortgage Consultant of
Ex-Mortgage Broker of more than 10 years
I have a 3 bedroom, 2 bath home with garage and fenced yard, comes with refrigerator, washer, dryer, dishwasher, microwave, and gas stove. It is $975/month. Located at 115 Beth Manor in the Daniel Pratt school system. Email if you would like to view this home.... more
Shop around for a mortgage broker, they have access to many banks, private lenders and many differente programs. Choose one that can answer all your questions in the first meeting and give you at least two financial choices.
Best of Luck,
Century 21 Tenace
The first step is pre-qualification and that can take as little as 24 hours. Once you know you can get a mortgage, you should hire a buyer broker to assist you in finding a home. It could takeas little as a few days to a month to find a home. Once you do, your offer is accepted then a conventional loan on average takes 30 days to close and FHA for instance takes 45 days to close.... more
This home is considered Elmore County therefore the kids would go to Coosada Elemantry School. This home is an amazing deal too! When the owners bought the house in 2007 they paid $422,919 and now that it is a foreclosure, it is only $289,000! Wow what a deal!
Are you specifically looking for Daniel Pratt school zone only? If so, click here to see a list of homes in that school zone: http://sarahlittle.kwrealty.com/listings/areas/47315/beds/4/baths/2/minsqft/2000/schooldistrict/daniel+pratt/propertytype/SINGLE,CONDO,LAND/listingtype/Resale+New,Foreclosure+Bank+Owned,Short+Sale/
Call me for a more details about the home as well!
Sarah Little, Realtor
Keller Williams Realty
Unfortunately, as Realtors, we are unable to give our opinion on this question. However, there are websites, inlcuding www.greatschools.org and www.psk12.com that provide data. Prattville is in Autauga County and we have a county school system, so you would search on psk.com under Autauga County. I hope that is helpful!
If I can answer any other questions or assist you in your home search, please let me know.
Michele Hobbs, Realtor EXIT REALTY PREFERRED 334-558-7560... more
The problem with trying to time the market is that the only way you know that you've hit the bottom is after it has passed and prices are rising again. Seasoned economists don9;t agree on when it is at the bottom, so the chances for an individual to hit it exactly right are not very good.
The time to Buy a great home is when you can afford one. Rates are at historic lows right now - lowest since the 50's. A 1/2 % increase in rates is the same increase in payment for a normal loan as a 5.8% increase in the price of the home. So, unless your local market is in a total free-fall, if you have found a home you like and can qualify for a loan under the new tougher standards, it's probably a great time to buy.
I would recommend an agent, we have far more resources available to us to find these homes. Lease/Purchases are becoming more and more popular at this time because of market conditions.
Keep in mind that when you hire a buyer's agent to represent you, you are not in most cases paying the commission. Under most circumstances it is the seller. It is always a negotiable fee, but like I said usually the seller pays it.
So why wouldn't you want an agent to represent you. If you need assistance in finding an agent in your area, please contact me and I will assist you in doing so.
Best of Luck!
Diane Menard... more
Hello Smith and thanks for your post.
Unfortunately, there are banks and, more importantly, asset managers that decide what buyers to include and who to exclude. In some cases, a home may be so popular as to command a cash offer, and in other instances, a home may be go searching for buyers. There are also other requirements that may be imposed on a property that, due to is condition, may require only a qualifed cash offer will be accepted.
Whatever the reason, once the bank has decided on "cash buyers" only, you'll be unable as a purchaser with financing to buy the home. Thankfully, the requirements to entertain only cash offers do not happen often, and you can expect that if there is this stipulation, you may not have been able to (or might not even want to) buy the property even if the bank had accepted the loan. At this time, it's best to simply move on to the next home.
If you are not already working with a Realtor, take the time to find someone with REO purchasing experience to assist you. An qualified agent will present to the other listing agent a qualified package that stands the best chance of meeting the needs and requirements of the bank and asset manager both for presentation and fulfillment of stipulations and earnest money deposit.
Grace Morioka, SRES, e-Pro
Area Pro Realty... more
Yes if both of you are on the loan the lowest middle score is used for the pricing of your loan. To keep from getting a major pricing hit from FHA or USDA you really need to be over 620. 600-619 is a 2% pricing hit with most lenders.
Barry Miller... more