At present all homes are in the typical Holiday and winter slow down as far as sales. Prices are stable to slightly rising and in about Feb 2014 to March when the business heats up again and demand becomes good - prices will most likely rise quickly. Based on the trends for non-recession markets like we just came from the 37 years I've been doing this business.
If you are not working with another agent, we would be happy to show you the property. Otherwise your agent can show the home.
Thank you for your interest and if we can help - please let us know.
Also please keep in mind - unlike most if not all other companies, we do not charge a broker administrative fee of $75 and up to $500. We feel, commission should be all the agents and companies should collect - we share commissions with other companies on a 50/50 basis, if they belong to the MLS.... more
The short answer is yes. Assumable mortgages do have qualifications.
My advice would be to put together a contract sale. Often times, this requires a down payment, but is a great way to buy a home if you don't qualify for a conventional mortgage.
If you'd like help putting a contract sale together or have us take a closer look at getting you qualified for a new home loan, I'd be happy to help!
Even if you do a contract sale, you'd want to make sure that you'll be able to finance the home on your own in the next two years. Most contract sales have a balloon, which means it must be paid in full within a certain amount of time.
I hope this helps!! I'd love to help further if I can. There are many properties for sale in Urbandale right now, I'm sure there are some properties considering selling on contract.... more
There are a couple of changes. The first one is the FHA monthly mortgage insurance is going up .10% so on a loan amount of $200,000 the monthly MI will go from $208.33 to $225.
The second change is the monthly MI will be for the life of the loan. Right now FHA requires MI until your balance hits 78% or 5 years, whichever is longer. On a standard 30 year amortization it will take you 7-10 years to get down to 78% if you never pay extra towards your principle balance. So instead of having MI for 7-10 year it will be for the life of the loan.... more
I currently have 3 clients that have townhomes available for rent. Unfortunately they are in Waukee & West Des Moines. Would either of those work for you? Please feel free to give me a buzz.
You are scaring the absolute s--- out of me:
You are describing the exact senario that a lot of people tried 3-4 years ago, that got them into trouble!
Can you step back and see that?
Good luck and may God bless... more
No Quailifying assumable mortgages are way of the past, They havent been given out in years however some sellers who got their mortgages some years ago do have these types of mortgages, if you can find a seller with them, you could assume the mortgage.
What i have seen though is many of tehse mortgages are for mnore than teh house is currently worth, the seller is more than happy to walk away and teh buyer ismore than happy to pay more knowing they can assume the mortgage where they would not be able to get one any other way.
Unfortanately most sellers do not know if their mortgage is or is not assumable. All sellers should review their mortgages to see if it is or is not assumable. For sellers they want to make sure they are released of liability if they do let soemone assume their note.... more
Hi Shelly, my name is Jim Mooney and I'm a Broker Associate with Remax Opportunities in Urbandale, Iowa, and I happen to work with many investors who sell on contract. You can normally expect to put 10% down, but many of my people are flexible. Not to mention the 1st time homebuyers money that can be used for downpayment as well. There are options out there and I'd be happy to visit with you regarding your situation.
Good luck!... more
As you pointed out, every area is different as is everyone's financial situation.
I ask every brand new client that I take on to sit down with a mortgage lender and talk about their financials. How much house they can afford and what kind of mortagage works best for them. Then when you know what you can afford, you should find a local realtor and ask them if what you're looking for is available.... more
That would be a great feature in my opinion!
Now days I do not want my kids walking any further than necessary to school, and to have their own :private path straight to school-awesome.
Urbandale is know for such school access. what a great selling feature.... more
In most states there are laws regarding procurring cause. Meaning, if you have an agent show you a home then they were the one who initiated your first exposure to the home and therefor they have the procurring cause to sell it to you. However, if you just visited an open house and this agent was there, this will probably not apply. If you enter into a buyer/broker agreement with another agent after the fact, then the new agent is your rep and the agreement takes precident. Your question is lacking some detail, so it''s hard to answer for sure. You should really consider hiring a buyer's representative to represent you in any case. I hope this helps. Good luck!... more