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08034 : Real Estate Advice

  • All21
  • Local Info2
  • Home Buying11
  • Home Selling4
  • Market Conditions0

Activity 19
Mon Jul 25, 2016
TheLuckyOne answered:
The difference is obviously $$$, you avoid paying commissions. It becomes especially valuable in selling a property under $50K when you're paying a minimum commission regardless of how much the property sells for. The agent is less motivated to sell for more and will likely be aggressively pushing the price down, as the commissions are still the same. Minimum commissions are usually $5,000. Plus lots of red tape.

I have purchased my condo FSBO; it was advertised on a local Craigslist and I responded. I was familiar with the area, liked the complex, the low assessment, the garage parking etc. So we made a deal, I recycled an old contract from the condo sold years ago, located the title company, and bingo, it's transferred.

Really no big deal, anyone can do this. And just to think, the realtors charge a $5K minimum commissions for THAT? A robbery on a highway if you ask me.

My 2 cents.
... more
1 vote 36 answers Share Flag
Mon Feb 9, 2015
Jeanne Feenick answered:
The bank agrees to lend a % of whatever is less, the sale price or the appraised value, if lower. The issue with appraisal can become a greater issue the higher the % financed.
0 votes 14 answers Share Flag
Mon Feb 9, 2015
Jeanne Feenick answered:
Yes, recently assisted a couple who used this type of financing for a purchase in Middlesex County. It is a particular program and not every bank provides it - they used Sun Trust but I think Wells does them as well. ... more
0 votes 1 answer Share Flag
Thu Jan 30, 2014
Derek Schaffer answered:
It is very similar to an FHA 203k loan. Any contractor that has worked with a 203k loan would be a fine choice.
Derek Schaffer
856-341-0240
0 votes 4 answers Share Flag
Thu Jan 30, 2014
Derek Schaffer answered:
We have done the mortgage financing on a few of them, and they are beautiful homes.
Derek Schaffer
856-341-0240
0 votes 4 answers Share Flag
Tue Nov 26, 2013
The Rifkin Team answered:
I know this is an old thread but if you still need any real estate help please call our office
(Keller Williams Cherry Hill) 856-321-1212 and ask for The Rifkin Team.

Thanks
1 vote 18 answers Share Flag
Sun Nov 24, 2013
lpjm asked:
Mon Sep 30, 2013
Jonathan E. Brill, Ph.D. answered:
Not being an attorney, I cannot offer legal advice. And since you seem to be represented by a Realtor, as a Realtor I cannot interfere by offering specific advice regarding your transaction. All I can and will do is answer your question in general terms.

Parties to any contract (e.g., a real estate contract for sale) can agree to revise that contract in any way they want provided that the modification does not require any party to do something fraudulent or unlawful. I have seen many proposed changes to real estate contracts, but I am sure I will not have seen them all even when the day that I stop selling real estate has come.

If your contract is fully executed and binding in its present form, you don't have to agree to change it and the parties will remain legally required to perform according to the provisions of the contract as it is written. In this case, you should consult with your attorney and your Realtor about the benefits and drawbacks of agreeing or refusing to modify the contract with a proposed Amendment.

If the contract is not yet signed by the buyer, then the buyer might refuse to enter into the contract without the proposed Addendum (or "rider"). If the contract is signed by both parties yet remains subject to attorney review (i.e., not yet fully binding upon the parties), then the contract is subject to cancellation by the buyer's attorney if you do not agree to change it with an Addendum or an Amendment. In these two cases, you must weigh the decreased value (to you) of the contract integrated with the proposed changes versus the possibility that the buyer will walk if you do not agree to the proposed changes.

Jonathan E. Brill, Ph.D.
REALTOR
Keller Williams Realty, Cherry Hill
DoctorJ@KW.com
Cell: 617.872.5580

Put my Ph.D. in Marketing and Wharton School
business education to work for you!
... more
0 votes 3 answers Share Flag
Fri Aug 30, 2013
Robert Fargo answered:
A large part of pricing a home is looking at what has sold around you in the last few months, since we have just finished the August sales period you should update any value estimates you received in June. Of course location , condition and other factors are important.
Feel free to contact me if you need any additional information
... more
0 votes 6 answers Share Flag
Tue Jul 9, 2013
Sharon Cinkowski answered:
I would be happy to help you with any questions you may have and to help you find a more suitable location.
Sharon Cinkowski
REALTOR
Keller Williams Realty, Cherry Hill, NJ
856-321-1212, ext 432
360-904-5428 cell
... more
0 votes 11 answers Share Flag
Sun Jun 23, 2013
Anthony Piccone answered:
Hi Anita, I am located right in Cherry Hill. Please read my profile and do some research on your mortgage lender. Once that is done, I would be happy to discuss any questions you may have regarding financing.

Thanks
Anthony
... more
0 votes 4 answers Share Flag
Thu Jan 3, 2013
Keith Jean-Pierre answered:
The lot size on this property is 35,719 sq ft which is just over 3/4 of an acre. Hope this helps! Best of luck!
0 votes 1 answer Share Flag
Sun Dec 16, 2012
belltavernproperties answered:
I'm from Pennsylvania, so I can't manage your property and can't refer you to anyone that I know, but I do know Cherry Hill. Interview several managers and find out if they only do single family homes or also multi-unit and Section 8 and also if they cover multiple counties or just focus on your area. Make sure you hire the one that is focused otherwise other challenging clients will take the time away from your property. Plan to pay one month to find a tenant and 8-10% of the monthly rent for the management services. As a Rookie Landlord, you'll find that a property manager overall is cheap compared with learning the business and doing the legwork yourself. PM's are also tax deductible. Good luck. ... more
0 votes 4 answers Share Flag
Wed Mar 28, 2012
Barbara Fitzgibbon answered:
Barbara Fitzgibbon-Broker-Associate, Turnersville, N.j, First, remember that an appraisal is 1 man oppinion.You can appeal the appraisal, ask your Realtor to gather all comps with in the last 4 mo. that would be somewhat comparable to your home. I think if you get some good info for them, most appraisors are willing to look at it and hopefully increase your value, if it's there. The last resort is, you would have to bring the difference to the table which unfortunately has been done many times recently. A short sale is a fairly long process and damages your credit for some time. If I can offer any help, let me know. Good Luck! ... more
0 votes 7 answers Share Flag
Tue Mar 15, 2011
Jodi Schwarzl answered:
Joka,
If you email me the lot information, I'll be glad to find out the sq footage for you.

jhschwarzl@gmail.com

www.JodiRealEstate.com
0 votes 6 answers Share Flag
Sat Oct 30, 2010
Robert Greenblatt answered:
Hi Mosia. if the property needs a lot of repairs, it is unlikely that it will qualify for a conventional mortgage. The appraiser and lender might call for repairs prior to closing. You might want to consider a 203k rehab loan. Are you planning to live there or is it an investment? I can assist you by putting you in touch with some local lenders.

Robert Greenblatt
Keller Williams, Cherry Hill
... more
0 votes 2 answers Share Flag
Mon May 17, 2010
Jerry Barker answered:
Would you want to pay more then it appraises for, in this market espicially?
0 votes 10 answers Share Flag
Wed May 12, 2010
Lawrence Ludden answered:
Dear mrslaliberte,

I have developed a process for evaluating the value of a home. It uses estimates of four of the available sites (which had a $ 40,000 difference in my own home), and used changes in appliances and remodeling to come up with a reasonable valuation of a home.

Contact me at realtor0128@yahoo.com and I'll send you information on how this process works, including a Spreadsheet which you can complete to find a calculated value of a home.

I wil also send you recent sales and homes under contract which with the above valuation can give you a reasonable market price for the home.

Lawrence "Larry" Ludden, REALTOR(r) Asso, Long & Foster Real Estate, Inc, 1415 Rt 70 E, Cherry Hill, NJ 08034. OFFICE: 856-857-2200.
CELL: 856-220-7916
realtor0128@yahoo.com
... more
0 votes 5 answers Share Flag
Tue Apr 21, 2009
Gregory Bain answered:
mediocre kids are mediocre in all school districts. I know a lot of people who went to "good" schools and you can't get the devil out of them.
0 votes 5 answers Share Flag
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