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63376 : Real Estate Advice

  • All25
  • Local Info4
  • Home Buying9
  • Home Selling3
  • Market Conditions0

Activity 21
Fri Dec 1, 2017
Linda Thomas answered:
Who is the best real estate company to work for? who has the lowest office fees/commission split.?
0 votes 25 answers Share Flag
Sat Oct 1, 2016
Rroberts0804 asked:
Several listings show the same group of photos for differant listings. If I'm interested in a property, I would like to see photos of THAT property, not just the best unit in that community.
0 votes 0 Answers Share Flag
Sun Jul 31, 2016
June Buerkle answered:
It sounds like you have hired an agent better suited to be a buyer's agent than a seller's agent.

I usually hire an optimist to sell my houses. They can talk over any blemishes and accentuate the positives. Must be able to sell ice water to Eskimos.

My buying agents are the nit-pickers that can turn the slightest paint blemish into a gaping 75 ft sink hole and help talk down the price.
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0 votes 2 answers Share Flag
Sun Jun 5, 2016
Susan Bearry answered:
Mon May 16, 2016
Robert Leuschke asked:
We also plan to have an open house this Sunday, and I see nowhere where I may put that information on my page. Can you please help?
0 votes 0 Answers Share Flag
Thu Jul 3, 2014
Brenda Cassidy asked:
My house is in St. Peter's, MO and I am living in VA. The tenants have been asking me for a price so they can see if they qualify.
0 votes 0 Answers Share Flag
Fri Jan 24, 2014
Scott Miller answered:
No company is worth 70% commissions, sorry. Personally, I think you should join a 100% commission office and never look back. This is the new (now older) business model, it works and it's successful beyond belief. If you're a self starter, then go for it. Here's a blog I wrote here a while ago about full commission brokerages. Some of the numbers have changed, our office now has over 700 agents.…

GOOD LUCK. Scott Miller Realty Associates Boca Raton, FL
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0 votes 14 answers Share Flag
Wed Oct 30, 2013
Stephanie Parson answered:
Both are fairly new construction and located across Ohmes Rd from each other (very near St. Charles Community College of Mid Rives Mall Drive). Bordeaux does have a building with an elevator and one unit for sale in that building. I would be happy to give you more specific information on this listing and others in the area. Stephanie Parson 314-614-9731 ... more
0 votes 3 answers Share Flag
Wed Jul 31, 2013
dasistasjewlery answered:
Does anyone know if this FHA rule applies to townehome with 4 units, or is this a multi-unit complex rule?
0 votes 5 answers Share Flag
Sat Jun 22, 2013
Ron Thomas answered:
Trulia does not do FSBOs;
A Realtor has to POST the LISTINGS.
0 votes 3 answers Share Flag
Wed Feb 27, 2013
Dale Weir answered:
Typically the rules require that the money be "seasoned" and there be a clear money trail showing that the money has been in her possession for a certain amount of time and where it came from. I know that sounds a bit odd, but nationally, there have been cases of money laundering involved with buying homes, which is why there are requirements. If she is getting a loan in conjunction with using the inheritance money, her lender will be able to fill her in on the details of what is needed. If she is going to be able to pay cash for the home based on the inheritance, I would have the realtor that she is working with check the requirements in that area. ... more
0 votes 2 answers Share Flag
Tue Aug 21, 2012
Dale Weir answered:
I don't know of any builders who are taking trade-ins. The exception might be if you were on a prime piece of farm land that they are developing and you want to move out of the farm house into one of the newer homes. ... more
0 votes 1 answer Share Flag
Wed May 30, 2012
Barrett Pastor ONLINE NOW answered:
If there was a financing contingency, which I would assume there was, you are probably fine. If you cant get the loan, you cant buy the house. The worst they may try to do is keep your deposit again depending on how the contract was written. I would read through it and see if there isnt a contingencty in there. I would bet there is. Good luck!

Barrett Pastor
OneSource Realtors LLC
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0 votes 5 answers Share Flag
Thu May 3, 2012
Barb Herbert answered:
Realestateman -

I also live in St Charles County, St Peters, specifically. I talked to a lot of brokers in the area (the same area that you are looking at) last year & made the decision to join Prudential Select Properties. One of the offices you mentioned has had some recent changes in the area - I'd advise you to check that out. I like the feeling of the St Charles Prudential Select Office - it's a very friendly, close-knit group. There is always a group of agents/brokers onsite to answer questions and assist in any way that they can. We have some of the highest producing agents in the area, but, you'd never know it - egos are kept in check. Technology drives everything we do & they focus on training all of the time. We have several brand new agents in our office. one in particular is being mentored by a more experienced realtor. One of the most well known & successful names in St Charles County Real Estate worked in our office until she retired a few years ago. I'd advise you again to check out - then talk to the Colburns. I think you'll be glad you did.

I also agree with another poster below who indicated that it is really tough to establish a career in real estate if you're only working part-time. When you are beginning your own business, you need to devote a lot of time to it to make it successful - your real-estate business would not be any different.

I wish you success & will probably see you in some type of real estate transaction in the future !
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0 votes 22 answers Share Flag
Tue Jan 4, 2011
Josie Morrison answered:
I would get your preapproval now. Interest rates are only going up. By waiting until your lease is up may cost you 10-20K in buying power. Interest rates are heading straight up. Normally you start looking 60-90 out from when you want to close on your property. I would suggest looking at the end of May close or possibly sooner if you find something great. If for example, you close at the end of May there is no mortgage payment due until July 1. This gives you a 30 day window with only 1 housing payment to fix up or do things to the new house that you would like to do, paint, carpet, etc. ... more
0 votes 9 answers Share Flag
Sun Mar 21, 2010
Dianne Hicks answered:
I do think there is a way to make it happen as you can be gifted money. Talk to a lender on your options to have this happen.

Good Luck!!!
0 votes 4 answers Share Flag
Mon Dec 1, 2008
Bob Waters answered:
Raechel, it is clear that you do not have professional representation in your effort to purchase this home and that is unfortunate as a good agent could help you understand how to determine the value of a home. Attempting to buy a house based on price per square foot is not the way you should be doing it as each house is uniquely different. Put another way, you don't pay for a car based on how much it weighs, instead you compare features, warranty, future value, make, model and a whole lot more before determining if it's the car for you. You should use price per square foot only as one tool to be used to help guide you in determining value. Regardless of what I or any other agent would tell you about average price per square foot in Saint Peters or Harvest Point it should not be enough to write a contract.
Contact a professional in your area and they will be happy to help or contact me and I will help you myself or refer you to a knowledgeable agent in Saint Charles County. You may save a lot of money using a local agent. Good Luck!!
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0 votes 1 answer Share Flag
Wed Jun 11, 2008
Terry Willis answered:
I checked a couple of active listings in St. Peters in the $375K price range and the taxes last year for these properties are averaging around $4100 a year with square footage of the home being between 2500 and 3100 square feet. I hope this helps you. Actual taxes on the property you purchase will be dependent on the condition and size (finished areas) of the home.
I am a Realtor in St. Charles County/St. Peters area and would be happy to help you find a home in this area if you aren't already working with a Realtor. Please feel free to use my web site to search for homes in this area or to contact me if you have any further questions. Good luck!
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0 votes 2 answers Share Flag
Fri Mar 7, 2008
Dale Weir answered:
I agree with the others. I've seen foreclosures with 8 good contracts on the table and the bank took so long (over 6 months) to get around to doing anything on the house that, they threw all 8 contracts out, relisted with another realtor and started all over again. I've seen others move in a week.

When someone can't make housepayments, they typically don't have money for preventive maintenance or routine repairs. In addition, we often see where EVERYTHING that can be taken out and sold has been - from water heaters and central a/c units to the toilets and light fixtures. While I've seen a few foreclosures that literally looked like someone had been rehabbing them yesterday and then walked out the door and left them (which does happen when investors buy properties, rehab them and then can't sell them), but those are very rare. You need to be aware that buying a home that you cannot immediately move into and live in will affect the loan that the bank will give you. You may have to keep your current home for awhile to live in, while you do the necessary repairs to the foreclosed home (which you can't start on until you own the home), and the bank will probably give you a rehab type loan where they give you the money to buy the home right away, but they evaluate the home for it's future value and they have you approved for up to that amount. Then as you do the work on the home, they will come and inspect the home and make sure that the work was done correctly, then they will loan you the money to pay those bills, then you do some more work and as they verify that it was done, they will give you the money to pay those bills, etc. Some types of loans, however CANNOT be used with foreclosed homes (like FHA and VA loans).

When you buy a foreclosed home, you are buying it AS IS - the bank will not warrant anything and they will not do any repairs. You will also need to be very careful because some of the banks will not give you a full warranty deed to the property, which means that you may inherite back taxes, mechanic's liens and other bills that you will have to pay off before you can get a clear title to resell the home in the future (and you always have to worry about those creditors)

You need to sit down with a knowledgeable Realtor and seriously discuss in person what to expect with a foreclosed home, a short-sale home (the bank agrees to take less than is owed on the home and the homeowner still owns it ) and HUD homes.
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