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20754 : Real Estate Advice

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  • Local Info1
  • Home Buying2
  • Home Selling3
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Activity 6
Fri Aug 23, 2013
Lanre Folayan answered:
Its defiintely Legal. Like Akil said,you have some great answers below that sum it up quite nicely.


Much luck to you.
0 votes 8 answers Share Flag
Wed Jun 27, 2012
Sue S. answered:
Answer to your qeustion..homeowners should not lose value on their homes because someone next door went into default. The banks should be made to amend the appraisal system, at least for a few years while the foreclosures trickle away, that doesn't allow them to use short sales or foreclosures in their evaluating the value of a home that is about to be put on the market. Yes, Obama could have stipulated that when he handed the money over blindly to the banks; but he did not. So here we are. Punished for doing the right thing and being responsible. But, that would have been a solution.

Yes it is true that sometimes folks are forced into foreclosure because of reasons beyond their control. But, what I have seen more of is the homeowners deciding they don't want to forfeit one of their two SUV's or summer vacations to make their mortgage payments. I have had 4 friends and one boss in the last 2 years that let their homes go to foreclosure, filed bankruptcy (after buying new cars and boats and continuing their lifestyles) and then even walk away with a few duckets in their buckets from the bank after their foreclosed home was sold by the bank......and I and many other Americans are acting responsible and paying our mortgage and going without other luxuries to do so.

When is America going to award people for doing the right thing and stop rewarding people for doing the wrong things? Sometimes I have thought to myself...just let it all go to foreclosure...just declare bankruptcy....I'll be excused and be able to blame it on the banks and the housing market...

Shame on any of you readers who deep down in your hearts know you could have knuckled down and made things work, but instead walked on their responsibilities for the rest of us to suck up.
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0 votes 4 answers Share Flag
Mon May 28, 2012
Akil Walker answered:
Hello Home Seller,

ensuring you are maximizing your online exposure is important. Roughly 90% buyers start their search online. In terms of strategies give me a call.
0 votes 16 answers Share Flag
Tue Jul 5, 2011
Ron Thomas answered:
Three years ago, when I did a CMA, (Comparative Market Analysis) I would exculde Shortsales and REO's because I didn't want to skew the numbers. I would analyze each house down to that detail.

Nowadays, SS & REO's can make up as much as 80% of a sample! We cannot ignore that big of a number. That is what Statisticians call "significant".

The houses are innocent victims in this parade; they didn't choose to be neglected and abandoned. And hopefully, they will be restored and grandiose again.

I belive that Appraisers are in the same boat, only more so: They are trying to compare the subject house to near-by Comp's and when they go looking for comp's, they can't find any that meet the guidelines. They don't want to go too far out; that would really be too much of a difference.

It's going to be years until this gets back to "normal".

Good luck and may God bless
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0 votes 9 answers Share Flag
Sat Apr 30, 2011
Stephanie Corley answered:
Gabe,

I have read many of your answers and they are all good advice. I happen to be a Realtor with REMAX 100 right in Dunkirk and would be happy to stop by and view your home. You could get an appraisal, but it will cost you and that does not mean the buyers market will support it.
Most of the time as a realtor we do what is known as a Market Analysis or Markwt Value Report to determine your homes selling peice in the current market.
If you would like to email me your address I would be more than happy to take a drive by the prooerty tomorrow and work up a preliminary price for you.
My email is smcorley@msn.com or feel free to call me @ 410-231-0251 and we can discuss your property.
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0 votes 11 answers Share Flag
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