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27253 : Real Estate Advice

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Activity 4
Tue May 25, 2010
Barrett Powell answered:
According to Trulia,

"Average price per square foot for Graham NC was $87, an increase of 6.1% compared to the same period last year. The median sales price for homes in Graham NC for Feb 10 to Apr 10 was $135,000 based on 31 home sales. Compared to the same period one year ago, the median home sales price increased 14.4%, or $17,000, and the number of home sales decreased 27.9%.

There are currently 461 resale and new homes in Graham on Trulia, including 1 open house, as well as 54 homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process. The average listing price for homes for sale in Graham NC was $178,736 for the week ending May 19, which represents a decrease of 2%, or $3,671, compared to the prior week. "

Concerning your storage building, I would be careful trying to give it value. Here is why. If you are selling your home, and you are selling it to someone that is getting an FHA loan (most likely), and the storage building is given value on the appraisal for the loan then the storage building MUST be at or better than FHA standards. In some cases, this means you may have to spend more money to bring the building up to FHA standards than the value that was placed on the storage building.

So unless the storage building is more along the lines of a finished shop, I would be very leery of trying to put a value on it. I would leverage the storage building more as a selling point to help sell the property quicker.

Barrett Powell
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Thu Nov 12, 2009
April asked:
for 3 months. Now, my husband is no longer working. I have been sent a final loan modification offer and the payment is now $400 more than what the trial period amount was. I cannot afford…
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Thu Feb 19, 2009
Sharon Trenary answered:
Hi Mary,
There is good news and there is not so good news. FIRST the "not so good"....Countrywide is the most difficult of the lenders to deal with. Why is anyone's guess but they are just plain difficult. SO...yes unfortunately they are going to make you m,iss up to 3 payments before they will talk to you about a new loan....HOWEVER
>> under this new "stimulus" package of the President's IF YOUR HOME IS WORTH LESS THAN YOU OWE...they may be required by law to work with you BEFORE you 'tank' your credit. SO watch the news like there is no, I mean NO tomorrow....I am in the same boat. So that is (1st) possiblity.
>> A second possiblity (2) is to be late on one payment...it goes against your credit because they will turn you in immediately (as if they get great pleasure from ruining people) to the credit reporting co...and it will be a "ding" in the grand scope of things but then ON YOUR INSISTANCE ("things like: Let me speak to your manager!" and then speak to them....do not whim...just state the facts and be sure to get their names, etc. and keep a record of time, date and who you spoke with in all this.....because now you are going to send your Congressman/woman a report of how you are being treated and the answers you are getting from these 'lenders"....and do not be afraid to be stern, (not angry, not nasty, just stern) DO NOT FORGET how much of our tax money THEY got just to stay in business....remind your public officials about this too. This is not the easiest road to go down but it is one of the only ones available until we get more information. Get to work....it is terribly time consuming but to my way of thinkin' it is the only PRO-ACTIVE avenue we have. If the public officals don't know about the problems they can't try to fix them....and right now they SAY they want to fix them. (I have my doubts but eventually we may get SOMETHING done and honestl.y that is all we have. better to be in 'action' than to sit on our collective hands and cry about it!)
Good Luck

Sharon Trenary, Broker-Associate
GRI, CES, LTG, CBR, etc
Allison James Estates & HOmes in FLorida
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