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55378 : Real Estate Advice

  • All11
  • Local Info6
  • Home Buying3
  • Home Selling1
  • Market Conditions0

Activity 10
Susan Hoffla…, Real Estate Pro in Shoreview, MN
Fri May 10, 2013
Susan Hofflander answered:
Hi, Swaraj!
Well, in 20 years in this business, I've had several transactions with Ryland. They are wonderful!

They build a reliable product, they have experienced and knowledgeable agents and contractors. They have great follow up after the closing too.

If you have any specific questions that you'd like my take on, please let me know, happy to help~

Good luck!
... more
0 votes 4 answers Share Flag
Donald James, Real Estate Pro in Edina, MN
Sat Feb 16, 2013
Donald James answered:
Nice area. I work with several builders in that area. In addition to the normal CMAs you will want to do a Price / Trend Analysis as well to make sure your investment will grow in the future. ... more
0 votes 3 answers Share Flag
Jimsmith, Home Owner in Prior Lake, MN
Tue Jan 10, 2012
Jimsmith answered:
Savage Minnesota can suck it! They have land locked a whole neighborhood and destroyed business there. In the area you are referring to all you here is train traffic. There is a wireless 24 hour a day switching station that will drive you nuts. That is why I left and never looked back!


Run while you can
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0 votes 6 answers Share Flag
Shane Milne, Real Estate Pro in South Jordan, UT
Fri Nov 4, 2011
Shane Milne answered:
HomePath financing is Fannie Mae financing, so it is likely you'll be able to use the rental income without a 2-year landlord history. We offer HomePath financing in Minnesota.


And FHA does *not* have a 2-year landlord requirement. The FHAOutreach.gov website is down now, but the guidelines (updated as of March 2011) can be found at http://www.hud.gov/offices/adm/hudclips/handbooks/hsgh/4155.1/41551HSGH.pdf and it says:

Rent received for properties owned by the borrower is acceptable income for qualifying as long as the lender can document the stability of the rental income through a(n)
· current lease
· agreement to lease, OR
· rental history over the previous 24 months that is free of unexplained gaps greater than three months (such gaps could be explained by student, seasonal or military renters, or property rehabilitation).

The borrower can provide a current signed lease or other rental agreement for a property that was acquired since the last income tax filing, which is not shown on Schedule E.
In order to calculate the rental income
· reduce the gross rental amount by 25% (or the percentage developed by the jurisdictional HOC) for vacancies and maintenance
· subtract PITI, and any homeowners’ association (HOA) dues, and
· apply the resulting amount to
- income, if positive, or
- recurring debts, if negative.
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0 votes 4 answers Share Flag
Gary Geer, Real Estate Pro in Antioch, IL
Sun Jun 12, 2011
Gary Geer answered:
Chau,
It sounds like this area (parkway) may be a section of land that has utility easments. You can check with local utilities ( electric, cable tv, phone, gas etc. ) to find out ,or talk to neighbors of the property, or have your agent follow up for you for answers to this question.

All the best,
Gary Geer

www.GaryGeer.com
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0 votes 1 answer Share Flag
Christopher…, Real Estate Pro in Bloomington, MN
Tue Apr 26, 2011
Christopher Block answered:
Fraud and I have no idea what the heck these other people are thinking when they tell you otherwise.

Sure, the enforcement issue is a different topic but the Short Sale will make it illegal. ... more
0 votes 9 answers Share Flag
Sergio Herna…,  in Naples, FL
Thu Jan 13, 2011
Sergio Hernandez answered:
Start by electing new officers to your BOD that are capable of bringing new ideas to the table.
0 votes 9 answers Share Flag
Tommy Anders…, Real Estate Pro in Prior Lake, MN
Tue Sep 7, 2010
Tommy Anderson answered:
You could also try map quest. I live in the area and it takes on average 30 - 45 mins. depending on traffic flow.
0 votes 4 answers Share Flag
Jackie Stanl…, Other/Just Looking in Burnsville, MN
Mon Aug 18, 2008
Jackie Stanley answered:
You could try to find a rent to own home, which means you rent until you can clean up your credit and then buy. If you go to my web site mnhousebuyer.com and put in what you're looking for I could try to find you such a home. Jackie ... more
0 votes 5 answers Share Flag
Tino Martinez,  in Illinois
Thu Aug 14, 2008
Tino Martinez answered:
We actually can go down to a 500 credit score,
I have been in teh mortgage lending business for 21 years.
call me and we can review your situation and I can give you an answer in minutes.

Tino Martinez
630-835-9044
First Capital Mortgage
... more
0 votes 5 answers Share Flag
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