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Channahon : Real Estate Advice

  • All5
  • Local Info0
  • Home Buying1
  • Home Selling0
  • Market Conditions1

Activity 6
Thu Apr 9, 2015
Debra (Debbie) Rose answered:
try calling customer service 1 888 466-3501
0 votes 1 answer Share Flag
Mon Dec 16, 2013
Anna M Brocco answered:
If referring to a RealtyTrac ad, keep in mind that the information may not always be accurate and oftentimes can be misleading, some of those properties may not be for sale yet, and some may never be, if the default is satisfied by the owner. If you are interested in foreclosures, work with an agent, as most do end up being listed by a broker--he/she will have access to reliable information--also don't overlook traditional sales as some may turn out to be a much better bargain than some of the foreclosure properties. ... more
1 vote 2 answers Share Flag
Mon Jul 18, 2011
Anthony Cavalea IV answered:
Give him the Realist report. As you probably know, the bank foreclosed on it in February and hasn't listed it yet. They may sit on it 2 more months, 6 months, or a year or more before they sell it. There isn't going to be much more info on this thing. ... more
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Wed Mar 16, 2011
Anthony Cavalea IV answered:
You will likely not recoop the cost of the basement finishing, at least given current market conditions. If you have a walk-out basement with 8' ceilings, you will recoop more cost than you would if you have a 100% below ground basement with 6.5" ceilings. If you haven't finished it yet, I would suggest adding a bedroom (or a room that can be used as a bedroom or left open a la French doors) and including a closet and window in that room in order to maximize value - Make sure you do include that full bath.

If you are renovating just to renovate and add value to your home, don't bother, especially in this market. If you want to renovate to get extra usable space and for your and your family's enjoyment, then I say have at it and do what you want to do for the money you want to spend, just don't plan on getting much of it back.
... more
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Sat May 16, 2009
Keith Sorem answered:
Sorry to hear of your problems.

There are a couple of issues that you should be aware:
First, contrary to what you might see in the media, underwriting standards are tightening. It is not uncommon for a buyer that is qualified at one point, with NO change in their financial status, to become unqualified.

Second, it is the listing agent's job to keep track of the buyer's financing. As an example, it is legal for you, the seller, to require that the buyer "co-app" or apply to another lending institution as part of the offer acceptance. Having the buyer applying for loans from more than one lender, particularly a lender that the listing agent knows well, can really be a big help and perhaps avoid problems like yours.

Third, it is not uncommon, even in the "normal" times of the recent past, to simply have lenders make mistakes. The Calif. Association of Realtors conducted a survey that showed that about 37% of the time escrows fail to close on time, and 70% of the time it's because the lender made a mistake. So it is widely known by top agents that having a firm handle on the buyer's financing is key.

You should make sure that you ask your Realtor the questions you asked us. I am concerned that the sale took so long.

The key question I would ask your Realtor is this:
SInce our home hit the market, how many homes, like ours , have:
Come on the market
Lowered their price
Entered Escrow

The proof will be in the numbers.
... more
0 votes 5 answers Share Flag
Mon Sep 22, 2008
Greg Zaccagni answered:
VA's biggest advantage over FHA is probably that you can purchase with up to 100% financing. For refinance I'm uncertain there is any clear advantage. Here is a link to my blog outlining the differences.

For more on Government loans click here:
... more
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