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Richmond : Real Estate Advice

  • All478
  • Local Info65
  • Home Buying132
  • Home Selling24
  • Market Conditions24

Activity 500
Tue Aug 8, 2017
Landescasey2 asked:
I am looking in this area because of easy access to Chippenham Hospital.
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Thu Jul 13, 2017
busy_young asked:
I have a yearly lease with a property manager but she has never checked with me before my 2 month necessary notice to renew my lease. Every year she has gotten later and later as to when…
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Fri Jul 7, 2017
Angelica P answered:

I have emailed you regarding this.

Thank you for using Trulia!

Consumer Care Advocate
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Tue Jun 27, 2017
Rlturner1 asked:
I can't modify my listing as long as the server is down. How do I get anyone to respond to my request for help?
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Thu Jun 22, 2017
Mary answered:

Please follow the instructions below on how to find a Section 8 rental listings.

1. Click the Rent tab on our homepage
2. Enter your desired area in the search bar and hit Enter
3. Click More, enter the keyword 'Section 8', and click Search.

Thank you for using Trulia!

Consumer Care Advocate
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Tue Jun 20, 2017
Kathy Burgreen answered:
Closing costs are usually negotiated with the seller. You do not need public assistance for this. The issue is whether the seller will agree or not. As a guideline, in hot selling markets, sellers will refuse to assist with closing costs. In slower housing markets, sellers will agree because it takes more to sell a home. I don't know the market where you are, but a local realtor can easily tell you if sellers will pay your closing costs or not. ... more
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Mon Jun 5, 2017
Laszlo G Vagner asked:
i cant seem to sort by lot size vs prices
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Tue May 23, 2017
Patrick Sullivan answered:
The benefits of a buyer’s agent are many, the most important of which is representation. We use this analogy often: would you want to use your spouse’s divorce attorney if you were getting a divorce? Of course not. Using the listing agent to represent you on a house is a poor choice as they have the seller’s best interests in mind.

In my opinion, the key is not just having a buyer’s agent, but the correct one. Your buyer’s agent should strive to understand your wishes, match your style and communicate in the way you want to be communicated with. You will be spending a great deal of time with this person so make sure you mesh well at all levels
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Wed May 17, 2017
Mom asked:
Mon May 15, 2017
Rljoneshomes6 answered:
The answer is ‘it depends.’ And, yes, I realize that is probably not the answer you are looking for. The bottom line is that this question is best left to your attorney, but here are some things to consider. If the seller is actively working to cure the snag that is preventing the transaction from closing, then no, you probably cannot just walk away. If the seller has simply refused to comply with the contract, then you generally will have the ability to walk away or sue them for specific performance (i.e. — close according to the contract.) But if there are legitimate issues that will take time to resolve, (title issues come to mind) then I think you have to ask yourself if you are willing to wait. Hard issue for sure — speak with your attorney for your options. ... more
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Wed May 10, 2017
Amy answered:
I should also mention that their credit score went down because they missed bill payments (though I'm not sure what kind of bills)... not sure that affects anything.
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Thu May 4, 2017
Patrick Sullivan answered:
The biggest issue is that since the market crash of 2008, very few new condos have been built and as demand has increased, there are no longer enough supply to go around. This lack of inventory is not just limited to the condo market. The housing market, especially at affordable prices, is extremely undersupplied as well. The only cure is to be ready to pounce when you see something you like and make your offer easy to accept. We have also had a great deal of luck approaching past clients directly who own condos. We have been able to secure deals that never hit the market using this approach. Using a buyers agent really gives you an edge in this scenario. ... more
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Tue May 2, 2017
Trulia violated my trust answered:
I posted on Trulia earlier today and choose not to have my number shared.

And why am I getting calls from people who found me on HotPads which I'd never heard of before much less made use of.

This is a serious ethical violation. I cannot trust Trulia now, nor the parent Company Zillow and I will be taking down my post and closing my accounts permanently in response to this. Not only that but I'm returning every call I got to tell them they will not be considered because of this violation and encouraging them to contact Trulia about it.
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Tue May 2, 2017
Scott Garnett answered:
There are so many things to consider, but probably the most important is the long term goal. If you are interest in cash flow, then a more moderately priced home tends to cash flow a bit better, but a more expensive home may appreciate faster and sell more quickly when you need to divest of the home. The other major factor is time. If you don't have a great deal of time, consider and town home or condo that included some level of maintenance. Similar, if you want to be your own landlord, make sure you have the time to ... more
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Wed Apr 26, 2017
Teeyvonna asked:
Mon Apr 24, 2017
Team answered:
The appraisal process is based on looking backwards and in hot markets, it is hard to find comparable sales. I wish I had a better answer.

As a seller, one of the keys is to make sure the purchaser is less sensitive to a missed appraisal. If a Buyer A is putting down 25% and Buyer B is putting down 5%, you might be wise to select Buyer A and try to get them to waive part, if not all, of any appraisal contingency.

Similarly, as a buyer, don’t get in bidding wars if you are a Max FHA buyer. You will cost yourself inspection and appraisal fees, as well as time, and likely miss out on other opportunities. The lack of inventory is driving pricing up but unfortunately, sometimes the rising prices outpace the appraiser’s ability to find the supporting sales.

With anything, preparation is key. Knowing when an appraisal is likely to come in low allows you to put contingency plans in place to handle it if/when it happens.
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Mon Apr 17, 2017
Sarah Jarvis answered:
Much like an appraisal or Zestimate, almost every CMA will vary. For one, each agent will interpret both the comparable sales differently and your home’s strengths and weaknesses differently. Furthermore, the market is constantly in flux and to assume that values are static is incorrect. The fact that you have differing values should be expected and the trick is to figure out which CMA is best suited to your strategy.

I would go back through the experience and feedback from the first listing period and see a) how many times your home was shown, how many repeat showings (in other words, how many came back for a second look) and how many times you had to answer additional questions like utility bills, when systems were updated, etc. to glean how far off your last price was. When people revisit your home and ask more questions, the closer you were to the correct price. If no one repeated, then you were at least 10% too high, if not more. I would also look at inventory levels and see how they have changed since your last listing period.

Those should help you decide on the best price.
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Mon Apr 17, 2017
Salvant.scott answered:
I would start with interviewing buyer’s agents. The selection of an advocate to help you navigate this weird world we call real estate is hugely important to the process.

Secondly, I would begin to talk to a lender. You should get a sense of the loan products, process, and costs. The mortgage process can be tricky so don’t get too far before working with your lender.

The last thing is begin to get familiar with housing and values. Never forget that it is a financial decision and making a good deal on a home should be a big part of the goal. Understanding what your money will buy is a critical step in making the best decision for you and your family.
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