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Home Buying in 78759 : Real Estate Advice

  • All47
  • Local Info2
  • Home Buying25
  • Home Selling4
  • Market Conditions0

Activity 23
Sat Mar 11, 2017
Gregg Pomeroy answered:
Hello, I'm a mortgage professional.

If your obtaining a mortgage you are allowed to get a gift from your parents. There is a prices to how the funds need to be documented.

You are welcome to get in touch with me if you would like help with this or have any questions. ... more
0 votes 1 answer Share Flag
Wed Aug 31, 2016
Manoj.gunwani asked:
The Great Hills neighbourhood of Austin is wooded with many cedar and oak trees. Most houses come with with backyards that have at least a couple of these trees and some are entirely wooded.…
0 votes 0 Answers Share Flag
Mon Jul 18, 2016
Debora Mitchell Johnson answered:
Many times the Seller will ask for highest and best. Since it is a Seller's market it appears that the asking price is the beginning price in many cases. So, yes they might ask for more
0 votes 24 answers Share Flag
Tue Apr 26, 2016
Susie Kay answered:
It depends on how your contract is written. Are you buying your home with a loan? How is the financing addendum written? I would suggest that you consult your real estate agent as she/he knows the detail of your transaction. ... more
0 votes 2 answers Share Flag
Thu Mar 19, 2015
Rick answered:
Im a retired appraiser. I stopped appraising and started investing and Ive done well because I understand what makes value. When I did residential appraisals (FHA,VA), there was seldom a 2nd appraisal ever and the value of the 1st appraisal was "assigned" to the house for a time. The only reason for HUD or the VA to require a 2nd appraisal was when the first appraisal, after review, was considered (politely) deficient. Things like a different square footage (compared to the measurement on an earlier appraisal), too high total gross percentage adjustment, too high a net percentage adjustment, an adjustment that it too large can cause the rejection of an appraisal. Constraints placed on the appraisal process by lending requirements can lead to an inaccurate value estimate. ... more
0 votes 6 answers Share Flag
Thu Mar 5, 2015
Jim Morelli answered:
The Texas real estate contract clearly states the property must satisfy the lenders underwriting requirements. If it doesn't the buyer can walk away and receive a refund of their earnest money. Appraisal is an underwriting requirement. If I were you I would have your agent review the appraisal for errors or inaccuracies if none you may be better off to negotiate with the buyer. The next contract most likely will end up in the same place. ... more
0 votes 16 answers Share Flag
Wed Aug 28, 2013
Roxanne Kahn answered:
I would recommend asking the sellers to come down $2000 in price, or contribute $2000 more to closing costs (if applicable - you'll want to talk to your lender to see if that is even a possibility). Your Realtor should be able to answer these questions for you, along with your lender. ... more
0 votes 21 answers Share Flag
Sat Aug 10, 2013
Janna Rankin Scharf answered:
What I wonder is if they were standard appraisals, or perhaps Broker Price Opinions, or perhaps refinance appraisals. The guidelines and quality will vary between types. Appraisers have strict guidelines they must adhere to when making adjustments in value between comparable property sales. They are not supposed to be subjective, but I do know that there are good appraisers and not so good appraisers, just like real estate agents! It is NOT an exact science, and the fewer apples to apples comparable sales there are to work with, the more likely it is that different appraisers will end up with differing values. ... more
0 votes 8 answers Share Flag
Sat Aug 25, 2012
atxblueskies answered:
HOA sucks. I don't care about the so call amenities. Most houses in my neighborhood already have large yards and pools. There is just this little area near the entrance into the subdivision that is needed to be maintained, yet, they gourge us with almost 1500 bucks on fees, annually. Not a huge sum, but, it is still wrong. ... more
0 votes 11 answers Share Flag
Sat Sep 10, 2011
Dallas Texas answered:
Insurance is based on value of the home, and personal content. Recommend contacting an insurance agent direct

Lynn911 Dallas Realtor & Consultant, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
972-699-9111
http://www.lynn911.com
... more
0 votes 2 answers Share Flag
Sun Jun 13, 2010
Condo Joe answered:
Helena, I am one of the Directors of the Austin MLS system. I know that Trulia uses a copy of the database, so it can get out of sync with the actual online database of the MLS system. I've received phone calls from people asking about listings that were sold & closed some time before, so I know there can be a lag time looking at Trulia. There is a way to get access directly into the Austin MLS. It's called Client Gateway. Since you are a seller, your Realtor that has you listed should be able to set this up for you. If not, either give me a call (512)203-4100 or send me an email jbryson@re-al.com and I can help you.

Joe Bryson
Real Estate Alliance, Inc.
... more
0 votes 6 answers Share Flag
Tue Feb 9, 2010
Julie Mattoon answered:
They are both great and we really need to know more about you and your lifestyle. I would suggest driving both areas and see what would suit you and your family best. Also, consider the age of your children if any and what school they would attend.
Good Luck....you will love Austin and I'm sure you will be happy in either location.
... more
0 votes 5 answers Share Flag
Tue Jul 7, 2009
Thomas Griffin answered:
1sthomebuyer,

A 30 year old home could be better built than many new homes. I've seen brand new homes that had problems that shouldn't pass a code inspection.

Almost any home could have roofing/plumbing/electrical/HVAC/foundation/etc. problems. Some older homes have had many of these systems replaced or upgraded, some haven't.

Your best bet is to work with a buyer's agent and hire an inspector during the option period in your contract.

You can create and save your own custom search for all homes that are for sale on the Central Texas MLS on my website at http://www.thomas-griffin.com. If you have any other questions, please do not hesitate to contact me.

Sincerely,

Thomas Griffin
Keller Williams Realty
512-751-3858
realestate@thomas-griffin.com
... more
0 votes 2 answers Share Flag
Tue Jun 23, 2009
Mkolb answered:
Thanks for all the advice. We are working with a mortgage banker RMG in Minnesota. The REO bank is IndyMac. The problem is that this is our 5th single family home so we are under the 5-10 property investor rules. According to the mortgage banker there is only one lender we can work with who is buying these loans. We have a great credit rating, long term employment and solid tax returns to show our property income. We have been doing this on the side for years. We have our PITI reserves and our 25% down ready to go. We could put more down it we needed to. Right now the REO seller agent is not connecting the mortgage banker up with her IndyMac contact. The have sent in more comps.
We just like this property. May even live there some day. According to the city property is splitable if we wanted to but we actually like the farmhouse just the way it is for now!. It will be an easy rent up because it is so unique and rental of SF is strong right now in this suburb.
My question is:
Do you know who else is buying investor loans for the 5 properties and more? Closing was supposed to by Thursday.
Thanks! Mkolb
... more
0 votes 5 answers Share Flag
Sat Jun 20, 2009
Thomas Griffin answered:
Henry,

Are you interested in buying a home in 78759? I'd be happy to talk to you about that.

You can create and save your own custom search for all homes that are for sale on the Central Texas MLS on my website at http://www.thomas-griffin.com. If you have any other questions, please do not hesitate to contact me.

Sincerely,

Thomas Griffin
Keller Williams Realty
512-751-3858
realestate@thomas-griffin.com
... more
0 votes 2 answers Share Flag
Wed Mar 11, 2009
Jeffrey Schnabel answered:
Krishna,

So you don't get "tied" to anyone, why not use the austinhomesearch website? It's free to the public and has no realtor agencies tied to it so you'll never get locked into anyone until you're ready to, and you can be sure it's 100% unbiased. It's updated every day so the information is just as current as anyone else's website. You can search by zipcode and many other criteria.

As for your purchase price, be careful of just looking at what the current sale prices are per square foot. You need to have a clear handle on what the sold data looks like, and a good handle on where a specific area is heading (up, down, or flat - nearly everyone is heading down at the moment).

What is your definition of recently built? Square footage requirements, schools (should be one of your criteria even if you don't have children), etc.

Thanks,

Jeffrey
... more
0 votes 9 answers Share Flag
Wed Dec 17, 2008
David O'dell answered:
Wow, only two people on this response offered rebates... Come on Realtors, rebates to the customer during these hard times are completely reasonable, especially to someone well qualified on a home of 350k! I am a Broker and GRI, not an inexperienced or new agent, and I often grant rebates of at least 1% on any home.

There are not too many foreclosures up there, but to find the best bargains you would want to get on an agent's client gateway email list for that zip code or neighborhood and at least you'd get instant emails for new properties that appear before anyone else does. I use a keyword search for foreclosures rather than a simple "label" search since this yields the best results, I also comb around for short sales. I specialize in investment propeties so foreclosures are pretty much a big part of my daily grind. If you're interested in a Broker helping you out and getting a rebate, my website is below. Thanks!
... more
0 votes 11 answers Share Flag
Sun Aug 24, 2008
Bruce Lynn answered:
Be very careful doing these types of transaction as they are risky. For years the real estate gurus would tell you this is a good risk free way to acquire property without using your credit. The risk to you is the "due on sale" clause in the original "owner occupied" mortgage. People would always tell you that the banks would never call the loan as long as it was being paid timely. However due to the risk the banks take with these types of properties they have started calling and foreclosing on some of these homes even when the mortgage is current. That's your risk....if you do any repairs or pay any taxes or insurance that money is at risk. ... more
0 votes 2 answers Share Flag
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