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Home Buying in 97470 : Real Estate Advice

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  • Home Buying4
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Activity 4
Sat Feb 14, 2015
Brian Duden answered:
Joan smith with G Stiles 541-643-6332 tell her brian from Glendale sent you.. I am in the middle of buying a home using a VA loan . She is great...
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Wed Mar 5, 2014
Jed.lowman answered:
Premier Home Mortgage Specialty Products Group does exactly what you're looking for. The FHA 1X close is completely different than a 203k and you will want to make sure that your MC knows the difference. ... more
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Sun Oct 23, 2011
Richard Breglia answered:
I have negotiated many short sales. In very few cases a deal is reached when a second mortgage is involved. From my experience the 2nd is offered 5% of loan amount on average. They seldom accept and just go after the owner after the foreclosure. In some instances when a good real estate attorney is involved and the homeowner is considering bankruptcy I have seen thye 2nd accept. The problem that usually comes up is that the second wants more money then the 1st is willing to approve. ... more
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Sun Apr 5, 2009
Dirk Knudsen answered:
Yes Justin... Your pal is incorrect. Foreclosures while a good value generally sell at close to full market value. There are steep discounts on some property at the court house steps but that requires all cash and a real knowledge of the market as you may be buying it sight unseen and without knowing what is inside of there.

Banks have a duty to get the loan value back. That is not always happening right now and so we are selling a lot of homes short. The basis on this stuff is where would you want to invest? What great values are out there? What can you do to manage the homes once you find them?

I would say that there are a few homes for $10K I have seen but they are in Detroit and markets like that and are complete rehabs. Your friend is advising you incorrectly. Having said all that there are great values out there in this market and you can find them and make money in this market. This is something however you should be actively involved with and not just leave up to chance or in the hands of others while you are away.

Hey Justin thanks for serving our Country. We support you all the way so stay safe and God Bless!

Sincerely;

Dirk Knudsen
Re/max Hall of Fame
... more
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