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85355 : Real Estate Advice

  • All11
  • Local Info1
  • Home Buying4
  • Home Selling2
  • Market Conditions1

Activity 10
Thu Nov 21, 2013
West Valley Living llc answered:
To be honest no one is going to be able to give you the exposure you would get from signing with a member of the National Association of Realtors. Anyone can put a sign in your yard, but the true job of a real estate professional starts when you receive your offer. You will need to know the steps of opening &, closing escrow... And making sure the offer you receive is a strong offer. A Realtor is trained to do so. ... more
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Thu Nov 21, 2013
West Valley Living llc answered:
Right now the market is a a slow incline. Waddell Arizona is a great place to be... I would say at the cost of housing now would be a great time to build... Get the house you want for a little lower than in a good market ... more
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Thu Nov 21, 2013
West Valley Living llc answered:
The best thing to do is ask your agent for a current CMA, this will give you an idea of the prices the other homes are going for. Remember your Realtor is suggesting a price, but be flexible... You never know when the right person will walk thorough the door ... more
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Fri Jun 28, 2013
Aurora Boyd answered:
Fri Jun 28, 2013
Aurora Boyd answered:
Tue Jun 12, 2012
Brian Cardenas answered:
Frank -

The challenging part about your situation is that we are in a community property state and FHA and VA underwriting requires the inclusion of a spouse's debt in your debt to income calculations. However, that is not the case on a conventional loan. If your credit is good, you may qualify for as little as 3% down on a conventional loan where he debts are not included in your debt ratios. If she is not attempting to short sell the property, you may want to consider doing a deed in lieu of foreclosure. You should consult a real estate attorney when considering any options for disposing of the property. If you go the route of a deed in lieu of foreclosure you'll want to make sure to have in your documentation from the mortgage company that in return for her executing the deed that they are accepting the home as full satisfaction of the mortgage debt and that she does NOT owe any deficiency balance. That is an important point for your attorney to negotiate as it will establish that she does not have any debts going forward from the mortgage that must be considered in qualifying for FHA or VA financing for you in a community property state. Going the route of the Deed in Lieu will also likely put a quicker resolution to the situation that waiting out a foreclosure sale. Again, you should consult a real estate attorney for answers to your specific situation and none of this should be construed as legal advice. I am simply advising you on what an underwriter will consider for a loan qualification.

Good luck,
Brian Cardenas, Sr. Loan Officer
AmeriFirst Financial, Inc.
... more
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Sat Apr 9, 2011
Ann Howell answered:
Here is another link that can help you with your Shopping Search

Have Fun
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Tue Oct 19, 2010
James Wehner answered:
This is a great resource for you to check out: The Arizona Short Sale Advisory. It explains many of the pitfalls of a short sale option. ... more
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