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98034 : Real Estate Advice

  • All27
  • Local Info0
  • Home Buying8
  • Home Selling6
  • Market Conditions0

Activity 24
Thu Feb 23, 2017
Bruce Bradley asked:
I am selling my house. The loan is assumable. If a buyer assumes the mortgage, do I lose the money I currently have in escrow?
0 votes 0 Answers Share Flag
Thu Jan 19, 2017
Dmrood1 asked:
Mon Jul 18, 2016
Angelica P answered:
Hello,

We didn't get enough information about your problem to resolve the issue. Please provide us your email address and we will be happy to assist you.

For future reference, you can feel free to contact us about this type of inquiry through our contact form here:

http://www.trulia.com/help/ask/


Thank you for using Trulia!

Angelica
Consumer Care Advocate
... more
0 votes 1 answer Share Flag
Thu Nov 19, 2015
Taycollins42 answered:
If the house didn't have air conditioning before, chances are good that having it now would increase the value. Nothing is guaranteed though, there's still a chance that you'll still sell for the same price. would suggest talking to a professional about it. If they can see the house, and if they know what it was worth before, they would be able to tell you what you can expect. Good luck with everything, hopefully this air conditioning addition will make things a bit easier for you.
http://www.arlingtonheating.com/services/heating-ac-installation.php
... more
0 votes 2 answers Share Flag
Tue Oct 27, 2015
Diana Hellman answered:
Only real estate professionals can post on Trulia. Try Zillow instead.
0 votes 1 answer Share Flag
Sun Sep 20, 2015
Scott Godzyk answered:
You can not, only licensed agents can post homes for sale on Trulia.
0 votes 1 answer Share Flag
Sat Sep 19, 2015
Debra (Debbie) Rose answered:
Good news for you!!

Capital gains are calculated differently these days than they were years ago (late 1990's) when you had to reinvest proceeds from your sale into a new home in a set period of time in order to avoid having to pay taxes on cap, gains..

Today, there is no requirement to buy another home in order to avoid paying taxes.
The requirement today is........ you have owned your principal residence and have resided in it for at least 2 of the past 5 years (the 2 years do not have to be concurrent - example - you could live there for 1 year, rent it out for 3, and then move back in and live there for year #5, and you'd qualify.

Couples are allowed a profit of $500,000, over and above their initial/base investment + improvements, before taxes may be due.....singles may have a profit of $250,000.

In calculating your final cost of the home, please note that you hopefully kept track of all the capital improvements you made over the years...........those figures can be added to your initial base investment.
Your profit on which capital gains will be due is the amount above your initial cost of the home, including any additional capital improvements........couples get a credit of 500,000, and as mentioned above, singles get a credit of 250,000 before taxes will be due.

With all of this in mind, I strongly urge you to speak with a tax adviser/cpa who can give you an exact idea of where you stand based on your personal situation.
I am not advising you - simply sharing a general overview.
.
Find out what your house might be worth......add in all the improvements to your original cost..........and see where you stand......get professional advice.

Best wishes!!!
... more
0 votes 2 answers Share Flag
Tue Apr 21, 2015
Lynn Knowles answered:
I'd be happy to run you a quick rental market analysis...email your property address and I'll get back to you!

Lynn Knowles
lynnk007@gmail.com
0 votes 1 answer Share Flag
Sat Oct 11, 2014
Jeremy Locke answered:
It's a great time to buy, property values have been increasing over the last 12 months and interest rates have stayed low..
0 votes 6 answers Share Flag
Tue Sep 16, 2014
Bobby Wright answered:
I have a fantastic lender who can make things happen. If you would like the contact info for another lender feel free to send me a message and I can have him see if he can help you out. ... more
0 votes 4 answers Share Flag
Wed May 29, 2013
Kathi Pierce answered:
It depends on how you structure this. A house, in and of itself is not "income". I can pay cash for a house, after closing I can remove my name (Quit Claim) from the Title and Quit Claim my child on. Either for "love and Affection" (no money has been exchanged) or a dollar, or any mutually agreed upon amount. whatever. If there is a dollar amount, you're talking literally selling the house to the other party, and then there is excise taxon that amount . The only taxes my child would be responsible for would be the property taxes, up until the time the child decides to sell the property. Then there would be Capital Gains to pay if not reinvested. ... more
0 votes 2 answers Share Flag
Wed May 29, 2013
Kathi Pierce answered:
There WAS a tax credit up to $8,000 being offered to help stimulate home sales (i.e. PURCHASES) but that ended a couple years ago.
0 votes 3 answers Share Flag
Wed Jan 16, 2013
Brian Leavitt answered:
Simply take a look at the tax record under ownership history. Usually this will show who the builder is but if not a call to the title company can often provide the answer. your broker should be able to do this easily for you. If all of the homes in a neighborhood are built by the same builder then asking a neighbor may be a reliable source but some Kirkland neighborhoods were built out by many different builders many of which are no longer in business. I disagree with the previous answer in that split level homes are a very popular plan offering more square footage for the dollar than any other floor plan but remember the reason for this is that approximately half of that square footage is below grade or basement square footage. Split levels are a big home for the money, have always sold well because of the size and value and are easy to maintain because of the elimination of the crawl space. ... more
0 votes 3 answers Share Flag
Sat Dec 8, 2012
Jirius Isaac answered:
If it looks like it will not get done on time, go speak to a real estate attorney. I can recommend a couple of them to you that do this full time & they can discuss options with you. Most of what the others have said is true. Do not stress on it too much.

Good luck to you in any case,
Jirius Isaac
Isaac Real Estate Team
Champions Real Estate Services
TriStar Finance #MLO-107799
Office: 425-483-6849 Cell: 206-841-9976
Winner of Seattle Magazines 5 Star
Real Estate Agent Best in Client Satisfaction Award
Mortgage Loan Originator Best in Client Satisfaction
... more
0 votes 9 answers Share Flag
Thu Aug 23, 2012
The Bond Team answered:
I am married to a new resident of the united states and my wife was able to get a mortgage without the help of anyone else. As long as you have the ability to gain a legal social security number, no problems should arise. ... more
0 votes 3 answers Share Flag
Wed Jul 25, 2012
Gregorio Denny answered:
Prefex, you did not mention if this is owned by Fannie Mae or Freddie Mac. You need to know which one and it makes a huge difference in what can and cannot be done and how easily. Freddie Mac is going to be harder. If your DTI is above 45% you will have a tough if not impossible time getting refinanced. If your mortgage is owned by Fannie Mae, Sarah, who answered prior is correct and DTIs can go as high as 65%. The LPMI is also much easier but still depends on what type you have. The loan officer will need to find out whether it was paid in one lump sum or paid monthly because it's important. If the referral you were given does not work out for you, give me a call. ... more
0 votes 6 answers Share Flag
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