Trulia Community - Advice from neighbors and local experts

Find Your Community
We couldn't find that location. Please try again.
Get Expert Advice

22203 : Real Estate Advice

  • All12
  • Local Info1
  • Home Buying3
  • Home Selling0
  • Market Conditions1

Activity 10
john bertuci, Home Buyer in Washington, DC
Wed Jul 6, 2016
john bertuci asked:
we recently got a short sale approval from ocwen, and noticed in the letter that after adding 6% commision and owner assitance of $10,000, it still came lower than the offer price. My question…
0 votes 0 Answers Share Flag
Trulia Custo…, Real Estate Pro in San Francisco, CA
Fri Sep 12, 2014
Trulia Customer Service answered:
Hi Bianca! Carol at Trulia here. Your account has been deactivated. Please allow 24 hours for your profile to be completely removed from our site. Thank you for using Trulia for your real estate needs.

If you have additional questions, please visit our help center here: https://trulia.zendesk.com/hc/en-us.
... more
0 votes 2 answers Share Flag
My NC Homes…, Real Estate Pro in Chapel Hill, NC
Fri Nov 29, 2013
My NC Homes Team answered:
I think you've got this site confused with Mission Impossible. I read your "question" and I hear, "Your mission should you accept to choose it...."

Honestly your question is about a dozen questions that each lead to several questions requiring answers from you. No one reading this is going to be able to "answer it." If you're interested in getting some assistance with investing in the Arlington VA / Washington DC area, my suggestion is to click on the find an agent tab in the green bar on the top of every Trulia page, and look for a few Realtors who work in that area and who have experience with investors and good ratings/reviews. Then be prepared to sit down with them and have a conversation. As someone who has worked with many investors I can assure you there are as many investment strategies as there are investors. You need to be able to tell the Realtor what your objective is, flipping isn't the same as buy and hold and the criteria for analyzing various properties changes with the investors objective. Most serious investors already have their own metrics for calculating ROI and investment potential. Reading your question, I suspect that you're new to real estate investing and what you want is some guidance, which is perfectly fine but in my opinion you'll do better having a face to face or telephone conversation with an experienced Broker in the area rather than using an online forum. Best of luck to you. ... more
1 vote 8 answers Share Flag
Chip Benjamin, Real Estate Pro in Arlington, VA
Tue Sep 25, 2012
Chip Benjamin answered:
Hello Matt,

I would have to agree with Jeff Lubell, finding a realtor who is an expert in all of those jurisdictions will be a challenge. A realtor can sell anywhere in the state of Virginia, and get the job done, but finding someone who "really" knows all these areas will be the hard part.

I am also a native and grew up inside the beltway and have sold homes out in Loudon Co, as well as Madison Co, and can share that there is a world of difference between selling a home there and selling one in Arlington.

In reading your posts, my thought would be to suggest that your wife and you narrow your search a little more and then zone in on an agent who really sepecializes in the area you seek. Aoso, I forget the exact figure from The National Association of Realtors, but it is something like 87% of buyers and sellers find their realtor thru the recommendation of a friend. Good luck in your search, and if you find your focus is Arlington I would be happy to help.

Chip
... more
0 votes 24 answers Share Flag
Elliott R. O…, Real Estate Pro in McLean, VA
Sun Dec 12, 2010
Elliott R. Oliva answered:
Hello Matt, I hope you are doing well. I wanted to add to what the others have posted already. Depending on what counties you are looking to buy in, you may qualify for a Conventional or FHA loan without having to seek a piggy-back or Jumbo loan.

For example, if you are buying a Single Family Residence in Arlington County the FHA/Fannie Mae loan limit is $729,750. That means you may qualify for an FHA loan with just 3.5% down or a Conventional loan with 5% down, so long as the loan amount does not exceed $729,750. So if you were utilizing an FHA loan to purchase a $600,000 home your down payment could be as low as $21,000. Of course each loan program has it's specific requirements so always consult with an experienced lender that can outline both loan programs for you in plain English.

In the meantime, you can verify the loan limits per county in Virginia at this link:
https://entp.hud.gov/idapp/html/hicostlook.cfm

If you would like more guidance please feel to contact me at your convenience. Thank you and good luck!
... more
0 votes 8 answers Share Flag
Delaine Camp…, Real Estate Pro in Alexandria, VA
Fri Apr 16, 2010
Delaine Campbell answered:
Applications are normally run for credit using the 3 major credit companies: TransUnion, Experian, and Equifax. A company can get a combined report or sometimes they just run one. A decision to rent is then normally made by the owner, property management company, or both. The information is presented to the "decision maker" and it's not just based on that but also on references, job history, employment, etc.
That is "in general" and is the rule of thumb.
... more
0 votes 1 answer Share Flag
Robin Silver…, Real Estate Pro in Garden City, NY
Thu Apr 15, 2010
Robin Silverberg answered:
This will depend on who you rent from. If it is through a realtor or managing agent, they most likely have an contract with a provider of tri-merged scores.
0 votes 2 answers Share Flag
Don Tepper, Real Estate Pro in Burke, VA
Sat Oct 17, 2009
Don Tepper answered:
Assuming Matt's number of 1.8-2.0 million is correct (the IRS says 1.4 million had done so by September 17--see http://www.irs.gov/newsroom/article/0,,id=213375,00.html ), I'd guess the actual number might be in the range of 1.3-1.4 million.

The large majority of the 1.8-2.0 million will have been renters. However, that doesn't take into consideration the number of college graduates (and some high school graduates) who might not have previously been classified as renters. According to the Bureau of Labor Statistics, an estimated 1.24 million bachelor degrees were awarded in 2008. See http://www.bls.gov/opub/ooq/2000/Fall/art01.pdf So, add in a few more who graduated from graduate school, subtract about the same number who probably went on to graduate school, and throw in some high school graduates, and you have an additional population of at least 1.25 million eligible buyers. True, a lot of them will rent. Some will return home to live with their parents. But let's say that 10% of them buy. Maybe they saved the money themselves. Maybe their parents helped with the down payment. (Anything to keep Junior from moving back in!) Maybe after 21 years they were just tired of living at home, living in dorms, etc., and finally wanted a place of their own. I'd be willing to guess that at least 125,000 college graduates (and probably closer to 200,000, maybe even higher) purchased a home in 2009.

Hope that helps.
... more
0 votes 7 answers Share Flag
Monika Kaiser, Real Estate Pro in Arlington, VA
Mon Aug 3, 2009
Monika Kaiser answered:
Thanks for your feed back! The house I have listed was just renovated and shows beautifully. The situation with the webestimates is even worth than not considering the improvements. There were numerous higher very recent sales in the exact neighborhood but the webestimates go over to another neighborhood for comps and come up with th most unlikely comps there. Maybe the WashPost should do an articles on those webestimates! ... more
0 votes 3 answers Share Flag
Bill Eckler, Real Estate Pro in Venice, FL
Sat Jan 3, 2009
Bill Eckler answered:
Katie,

We suggest that you get started with the process now by beginning to collect information about financing and getting pre-approved for a loan. Consider looking a foreclosures where you can find significant savings and an easier transaction than a short sale.

The key to finding the right place for you is allowing enough time to do a thorough search. Once you have found the right home you can work toward a closing date that meets your personal needs. A real estate professional can assist you with this and other matters along the way.

Our advice.....get started today.

Good luck
... more
1 vote 6 answers Share Flag
Search Advice
Search

Followers

276