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33786 : Real Estate Advice

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  • Home Buying1
  • Home Selling1
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Activity 3
Fri Oct 9, 2015
answered:
Those loans don't really exist any more because the government requires lenders to document your ability to repay the loan.

With that being said, there are some specialized programs out there.

Some rely on reviewing your bank statements for job related deposits and some can use an asset-depletion formula if you have a lot of assets outside of those funds needed for closing.

email me with some specifics if you'd like to discuss things further!
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Sat Apr 12, 2008
Yvette answered:
I am not fond of www.cyberhomes.com or www. zillow.com to base your asking price on, especially if you have an older home which has been renovated. These sites are limited to the basic info; for example, age of the home, deperciation, and neighborhood comparitive sales within the last six month. If your property is waterfront, waterview and has been up dated with significent improvements, those numbers will not reflect its actual value. I have my home appraised every 8 months and if I know of a "certain type of sale" or distress sale, I will inform the appraiser and he will take that into consideration. The best way to evaulate your home is to hire an appraiser with your neighborhoods knowledge and then when your numbers are in and you accept them, think about staying ahead of the market by lowering the price by the current % decline. Times are hard for everyone, ask your realtor to lower their commission if you are faced with a low ball offer and you are considering it. I am also noticing that homes closer to the beach areas are selling quite well. Sellers are not budging on there prices, perhaps they are taking a stand. lol
No worries though, I feel this real estate(correction) is almost over. That is my opinion. I am not a Realtor but a seller/buyer. But..........why not keep your home, hire a realtor to rent it or even consider a lease option to a potential buyer.
I really enjoy the information here on Trulia.com question thread. Thank you to all the Realtors and experienced seller and buyers.
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