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Financing in 30907 : Real Estate Advice

  • All24
  • Local Info0
  • Home Buying10
  • Home Selling2
  • Market Conditions0

Activity 7
Sun Nov 22, 2015
Jeri Patrick answered:
I would contact a local lender they can go over both loans with you and there advantages. Best of luck.
0 votes 6 answers Share Flag
Wed Aug 27, 2014
Gilbert Iarocci answered:
Did you end up buying the home? I think if they home had what you wanted then it is ok to pay a little more. I have seen people buy a home and they spend a lot of money fixing it to their tastes. ( a lot of that money they will never get back). ... more
0 votes 15 answers Share Flag
Tue Jan 7, 2014
Brian O'Neill answered:
It's my understanding that FHA has suspended it's 90 day anti flipping guideline until December of 2014.
0 votes 5 answers Share Flag
Wed Aug 28, 2013
Lee Taylor answered:
I know that you are getting hyper-curious since something happened to you recently with some GA real
estate and things aren't making sense - I've saw your other question.

I just gave 3 thumbs up to the answers below - simply put, this indeed is about supply, and demand, locally - by zip, by ESD, by police beat, by street, etc...

My man Chartmaster Chuck summarized the Q2 2013 market in metro Atlanta as follows:

"Another market shift is occurring. During 4Q 2012 we saw confirmation of a change from a market driven down by Distressed Property sales, to one driven up by reduced supply. This caused a fundamental change in the psychology of the market from a “Buyer’s Market” to a “Seller’s Market” environment.

The results are that many of our usual market measurements have turned in the direction of market recovery. Significant positive changes occurred in the median sales price (+23.6%), median S/OLP percentage (+6.6 percentage points), median DOM (-27.1%), incidence of price reductions (-15 percentage points) and percentage of failed listings (-13.0 percentage points) during this quarter.

However, even as these improvements were taking place, the percentage of distressed property sales remained high (39.4%) and the number of Active listings continued to fall. These conditions should also be considered by sellers when setting listing prices. Continued distressed property sales maintain a dampening effect on seller flexibility by their use as comparables in property price evaluations.

With our uncertain economy, short term housing market improvements should still be viewed cautiously. A sharp increase in the number of Active listings or distressed property inventory, or a decrease in sales, could expose the fragile nature of this improvement. But for now at least, Sellers should find less pressure during contract negotiations and Buyers will see a more competitive market with fewer sellers willing to accept low-price offers."

And again, Angela - get out of judgment and into curiosity.

Atlanta is holding up pretty well...
... more
0 votes 4 answers Share Flag
Thu Aug 22, 2013
Brian Nguyen answered:
When applying for a loan, lenders like myself will need to look at several different things if you are trying to prequalify for a loan.

1) Proof of income for each person that will be on the mortgage which can be demonstrated through: one month of pay stubs, previous year's W-2 forms and tax returns, official documentation to demonstrate other forms of income (alimony, child support, etc.), and two year's tax returns if self-employed (all schedules, all pages)
2) Credit Report which they will pull
3) Employment History
4) Personal assets such as: Recent balances and statements for bank accounts, most recent account statement demonstrating market value of any investments (stocks, bonds or certificates of deposit), documentation showing interest in retirement funds, face amount and cash value of life insurance policies, value of significant pieces of personal property, debt information, the balances and account numbers of your current loans and debts, including car loans, credit card balances and any other loans you may have.

I would suggest talking to a lender and checking out what they can do for you. If you have any other questions or need a loan please contact me through the information on my profile page! Hope this helps and good luck!

Brian Nguyen
Sr. Mortgage Banker
NMLS # 659743
Phone: 949.667.2887
... more
0 votes 10 answers Share Flag
Thu Aug 22, 2013
Tonya Rodriguez answered:
You are doing a lot of hard work and paying a lot of money repairing your credit that you could be keeping in your pocket. Did you know that most items on your credit reports only require a dispute with the credit bureau that has the err or outdated info. If no response within 30 days from the creditor/company who reported the info it will be deleted? Credit repair agencies are doing for you what you could do for yourself for a lot less time and money. Did you also know that it could be one item or ten and you can report to all 3 bureaus ? I've seen my own scores improve by doing so. Keep in mind that credit reports vary from month to month so you may want to invest in credit monitoring like or even credit Karma. Or just go to your bank and they will help you. ... more
1 vote 2 answers Share Flag
Sat Jan 16, 2010
Michael Hammond answered:
Thanks for the update, Sky! We lost at least 2 deals last year because of that rule. Hope they keep or positively modify this moratorium.
0 votes 7 answers Share Flag
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