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60126 : Real Estate Advice

  • All13
  • Local Info1
  • Home Buying3
  • Home Selling2
  • Market Conditions2

Activity 9
Wed Sep 30, 2015
Janet.boyer answered:
I am a landlord, and when I have received a inquiry from Trulia, I respond by e-mail,J but get no reply. What is going on with Trulia if others have trouble also?
0 votes 2 answers Share Flag
Tue May 26, 2015
Alisa Godoy answered:
It is very often helpful to have someone that is familiar with the specific area you are looking for. I am an agent in Elmhurst and have found that clients do like to have people familiar with the area they are looking in and around. But it is always up to you as the client who you are comfortable with. ... more
0 votes 13 answers Share Flag
Mon Oct 6, 2014
Synthia Noble answered:
this issue should be resolved by your realtor - they can go on their trulia account and correct the information. or they can call Trulia and get it fixed.
you are doing your realtor's job following up on this issue.

it is important to note it is a town house - easier to get a mortgage than a condo in some cases.
... more
0 votes 1 answer Share Flag
Tue Aug 19, 2014
Jack Disimone answered:
Hi Ellen-

Most of the previous answers have been very good ones, I'd just want to add a couple of points.

Once the lender has gone through the BPO process , they tend to be very set on getting that BPO price for the house, meaning if you see " bank approved at xyz" That lender wants xyz. The idea of low balling on a short sale that has completed a BPO is a waste of time. I know it's human nature to try to wheel and deal, but that technique only works on the infomercials.

What a buyer should do when they see bank approved is look at the home and then compare that approved price to other non distressed ( Short sale/Bank owned ) homes in the same neighborhood.

If the approved price is within 10-15 % of the other properties, you are getting some value.
The notion that you can buy a home in a 300,000 neighborhood for 150,000 is pure fantasy
in most cases.

Please contact me if you'd like to discuss this in further detail
... more
0 votes 10 answers Share Flag
Tue Sep 17, 2013
Gabriel Martinez answered:
Hi Tim,

I think the key is to have the Buyers well informed, and have them prepared and ready to act fast if there is a house they are interested in. There is plenty of data out there to back this information up. I explain that inventory is low, and so the "Low Ball Offer Market" is pretty much gone, so there are very serious Buyers/Competition also looking.

Similar to what Dan mentioned below, I think Pocket listings cause for a disservice to both Sellers and Buyers. I make sure to stay on top of any potential homes that my Buyers may like, by setting up Property Searches that run twice a day. Once at 10am and once at 5pm. The search will be looking out for any listings whose status is NEW, REACTIVATED, BACK ON THE MARKET or had a recent PRICE CHANGE.

I try to keep my Buyers as well informed as possible, and provide a Buyer's CMA for the home that they are considering on submitting an offer. This helps give the Buyer a Peace of Mind that they will be getting their home, at the right price. This will help you close more deals.
... more
2 votes 5 answers Share Flag
Fri Mar 15, 2013
Lester S. answered:
Hi Mrs t Johnson, rent to own options can be tricky, may contain hidden pitfalls and often are not beneficial and don't work out for the tenant/buyer........be careful and understand the details. Having said that, I have a completely unique and new approach that can simplify this process in a "win-win" way for everybody, especially for you, the tenant/buyer. It offers a very secure, stable process by eliminating many of the uncertainties. If you are serious about wanting to achieve such an arrangement, you owe it to yourself to contact me to see if it can work for you! I guarantee you will like the idea and I won't waste your time!

Regards,

Lester S.
"Lester the Lister"
RE/MAX 1st
Elmhurst
630.207.2532 (cell)
LestertheLister@yahoo.com
... more
0 votes 1 answer Share Flag
Thu May 3, 2012
Anne Thompson answered:
There is still a demand for Rent to Own and every now and then I actually see a listing that offers a rent to own situation. But the transaction is so complicated that I have never actually seen one that worked out. The buyers may assume that they are going to be able to save up a sizable downpayment instead of throwing all that rent away but usually, the amount of their rent that goes toward the down payment is very small and having to lock into a purchase price today for a sale that won't happen for a couple of years is very risky business. If anyone knows of a good formula to actually get these deals to work out in a win/win result, please let me know! ... more
0 votes 2 answers Share Flag
Fri Apr 13, 2012
Mary Bremer answered:
Olivia - It is all the above and more - or it simply could be that the owners are upside down on their home (where the mortgage balance is higher than what the house is worth), and they need to move because of their job, or they need a bigger house because their family has grown etc.

So many reasons.......
... more
0 votes 5 answers Share Flag
Mon Dec 5, 2011
Sharon Altier answered:
I would agree with Joan. You can throw out the "technology" tool as much as you want, but does that REALLY sell the home or does the agent sell it? We all have the same tools in the residential business , so if an agnet puts it on a fancier website, is that really going to sell the home? NO. That will bring the home to the attention of the Buyer, but they will see it on numerous websites after being entered into the MLS, so throw that theory out the window. Is the Selling agent also showing the home or throwing on a lock box for a selling agent to show it and see if they like it; rather than the Listing Agent actually being present at the showings and pointing out the Seller's home features...turning on lights...making the property look its best? Technology points you to the home, but there is certainly more in the sale process than that. A Seller can negotiate the terms of the listing agreement and the Broker can certainly negotiate terms as well. Either can walk from an agreement that may not be profitable to the other. Work as a team with the Seller to get the home sold; that is in the best interest of both parties anyway! ... more
0 votes 12 answers Share Flag
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