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32206 : Real Estate Advice

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  • Local Info0
  • Home Buying2
  • Home Selling1
  • Market Conditions1

Activity 6
Mon Nov 18, 2013
Sharon Molnar answered:
Hello Meadowslin,

There are a few ways to auction a property - online or in person. I am curious why you don't put the property for sale with a real estate agent and have them handle the process. If you'd call me we could discuss what might be the best option out there for you.

Sharon Molnar
904-382-6792
... more
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Fri Feb 12, 2010
Alma Kee answered:
If you need the $8k upfront you may be able to get the money from a state program. See the link below.
0 votes 6 answers Share Flag
Mon Feb 8, 2010
Shonda Campanaro,REALTOR® answered:
1642 is currently under contract with no contingencies. If you would like a list of other properties that are available in this area, give me a call or email me.

Shonda Sauls, REALTOR®
Prudential Network Realty
Cell (904)962-6139
Office (904)260-4300 #327
Fax (904)292-2060
Website http://www.shondasauls.com
... more
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Tue Dec 8, 2009
Mack McCoy answered:
Well, paper, as Dan points out, is liquid. And there's no debt service.

The returns in real estate, at least in Seattle, aren't all that great right now. Putting aside the fact that a six-plex costs over a million dollars, it also has a cap rate around five. So you really have to be an astute manager to make that work for you. ... more
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Fri Jul 10, 2009
Brenda Gravitt answered:
Keep in mind that your property tax payment may go down in Oct 2010. Most property for sale in Jacksonville is being assessed based on a higher sales price from the past. In addition, if the bank has taken over the property then it has probably also lost its homestead exemption. Once you close on the property you need to be sure your deed is recorded and file for your homestead exemption before Jan 1, 2010. If you do this, then when your property is reassessed for your Oct 2010 taxes the property tax may decrease. You should try to be proactive and get the city to reassess it sooner if possible. Property taxes are paid in arrears so your property tax at closing will be based on who owned the property on Jan 1, 2009. The seller will be giving you a credit at closing for their prorated portion and that money will be put in your prepaid escrow account for the taxes that will be due Oct 2009.

You can pull up properties you are interested in buying on COJ.net and find out what it previously sold for and how much the taxes are. This will help you determine if your taxes will be lower in the future. There is also a tax estimator on COJ.net.

Keep in mind that you are not making payments on any of your down payment assistance money and it is 0% interest. Your pre-approval sets a maximum loan amount you can afford but that does not mean that you have to purchase a home at that price. You can look for a less expensive home and your payment will be lower. If you sell or refinance your new home before living there for 15 years, then some or all of the down payment assistance will be paid back from the proceeds of the sale or refinance. Basically, that's free money, why would you consider turning it down? In additiion, you will be eligible for the IRS tax credit after closing of up to $8000. That should help you pay your house note until the property taxes are lowered.

In addition, there is a new product that you would probably qualify for that will give you up to $8000 more in down payment assistance and can be combined with the programs you have already. That would lower your payment by $50 more dollars. The FHOP money will only be available to the first 90 buyers that close on a home before the funds are exhausted, so time is of the essence. You can not register for it until you are ready to close on your new purchase.

The H2H program has a less than 1% default rate on their loans.

Have you chosen a Realtor to work with on your home purchase? If not, please feel free to contact me.
Brenda Gravitt CRS, GRI
Coral Shores Realty
bkgravitt@gmail.com
904-573-9638
... more
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