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45245 : Real Estate Advice

  • All16
  • Local Info0
  • Home Buying6
  • Home Selling6
  • Market Conditions2

Activity 15
Tue Oct 25, 2016
Cmw9664 answered:
What Is total cost per square foot for housing at pebble creek golf course Cincinnati, Oh. 45252
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Sun Jul 17, 2016
Amberfaithmodel asked:
the bank did not disclose that they would not allow appraisal contingency and will not lend on property until repairs are made. We had property appraised and inspected already but it was…
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Fri Jan 23, 2015
Annette Lawrence answered:
As you know most buyers prefer single level living. Many can not afford single level homes.

As you know most buyers prefer a home that has a suite on the main floor. Many can not afford a home with a suite on the main floor.

If you home is priced appropriately to attract the buyer, it will be easy. The hard part is when you price and attempt to sell your home to a market that does not want it.

How hard or easy really depends on you.

Call a local REALTOR to get the price right then use the REALTORS access to qualified buyers to get that house sold.

Best of success,
Annette Lawrence, Broker/Associate
Palm Harbor, FL
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Fri Nov 15, 2013
Susanne Anton answered:
Anything is possible. it would be more challenging if there is not a downward slope
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Mon Sep 9, 2013
Amy Chrisman-Williams answered:
I highly recommend contacting Stef Adams who is a hardworking and trustworthy renovation loan officer who knows the ins and outs of 203k financing - I have first hand knowledge as I too used her for my 203k loan. I also can recommend a great FHA home inspector in the Cincinnati/NKY area if needed.

Stef Adams office 859-578-3918
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Mon Jun 3, 2013
Stephen Shields answered:
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Wed Jun 6, 2012
Bob Lane answered:
Mon Apr 16, 2012
Scott Baker answered:
my understanding as to why you can not get the combo. the 203k loan requires inspections, disbursments and title updates after the loan has closed. the time frame on the work is longer than the time frame that the OHFA lenders have to deliver the loan to US BANK (master servicer for OHFA )

Also, the 203k typically have higher closing costs and the OHFA program limits what lenders can charge. 203k loans also typically have slightly higher rates than the 203b(standard fha) loans. OHFA sets the rates for the bond money program

With those contraints it' typically an unprofitable loan for a bank to do...

If you need someone to help you with a 203k loan in cincinnati area, contact Brent Zuch at 513-477-3834, He's with Western Ohio Mortgage

should you have any other questions feel free to contact me directly at 513-227-5897

Scott Baker, Realtor
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Fri Jan 14, 2011
Corey Grushin answered:
Phil any appraiser doing either a conventional appraisal or goverment insured loan appraisal would have to mention the repair you are talking about in their appraisal report IF they notice the problem. If there was a problem with loan or the home they would have to bare some responsibility subjecting them to licensing & insurance issues. On an FHA loan the underwriter would most probably not approve the loan based on hte appraisal and FHA guidelines.
On a conventional loan the underwriter would probably ask for more guidance. Overall determination would be at the discretion of the bank. But keep in mine such a repair could possibly put the loan in jeopardy if it was beyond the ability of the borrower to make.
A structural engineer would be essential in this process but I don't know if it would influence the bank.
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Sat Jul 31, 2010
Jeff Smith answered:
With similar lots, area, size,etc., I feel a ranch will sell better here on the east side. There are many more two stories and not as many good quality ranches.

As the population gets older on average, there are more folks looking to downsize. With the slower economy, I have noticed several younger families wanting to downsize and looking for single floor living.

Overall there are more buyers looking for a 2 story home simply because they usually offer more square footage for the price.

I was curious about the number of days on the market for ranches vs 2 story homes so I ran a couple of searches for for homes sold in the past 6 months in Clermont County with at least 3 bedrooms and 1.5 baths. Here are the results

For ranches: 239 homes sold, Average Sale Price was $153,843, and the Average Days on the market was 74
For 2 stories: 401 homes sold, Average Sale Price was $234,527, and the average days on the market was 76.
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Wed Jul 14, 2010
Danny Vinson answered:
Nelie is right, you need to have an agent access the MLS for you.
Let me know if you still need help.
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Wed Oct 21, 2009
Doug-Lona Leugers answered:

An appraiser would make adjustments for the walkout and the quality of the basements. The utility in the basement is not as much a factor. So the fact that one has 2 bedrooms vs. 1 bedroom would not get much credit on an appraisal. Anything below grade is not considered living space. Quality from a home seller’s perspective and an appraiser’s perspective are going to be different. There is usually a pretty standard adjustment for a walkout. You’re looking at $3,000 adjustment for the walkout on the high end. The quality is going to be the tricky part, because we can't see the quality. If you ordered an appraisal it will cost you around $350.00. However, with that appraisal, you can price your home so it will sell faster. Plus, you will have another opinion that will help you justify price to potential homebuyers. The appraisal will pay for itself, especially in the price range that you’re probably in. My advice would be to order an appraisal from an appraiser that has an office in your area. Also, leave the appraisal out on counter when there is a showing, that way homebuyers know that you did your homework. Good luck. ... more
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Fri Sep 18, 2009
James Gordon ABR SFR SRS answered:
Curt when the lenders do an auction as they have been doing lately you can preview the home with a Realtor® before the action. If you are talking about sheriff sales those properties are being sold to satisfy a court judgement and are not REO properties. If you go to the house the owner may still be there. You may get arrested for being a peeping tom if you look in the windows of an occupied house.
Auction properties are sold as is where is and not subjuct to you cancelling because of inspections. Also there is a buyer premium on auction properties sold by the lenders so take that into account when bidding.
Good Luck
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Mon Aug 31, 2009
Edith Karoline Jasser answered:
Hm, bedrooms in a lower level may be very appealing to families with older children, teenage children, or in-law situations, on the other hand parents with younger children would like them close by and all bedrooms on the upper level, so you see, with just that information you can see that every buyer's situation is different their needs for space and floor plan are also different...

But in general terms, a 3 bedroom + home will appeal to a larger buying public....
As those who are looking for 3 bedrooms, may want only 2 bedrooms and the third one for an office, but if the agent searches for 3 bedrooms a 2 bedrooms with basement space for office etc. may not show up...

But You really should buy what works best for you for the next 5 - 7 years, buy it a good price, keep it in wonderful condition and when you want or need to sell, a buyer will find it as appealing as you did!

You should potentially also look at your area, and if most homes have 3 - 4 bedrooms on the upper floors, you may want to consult with a local experienced Realtor to get his/her advice....

But since the other bedrooms are on a lower level (with larger windows yes?) then this may still work out ok.
Good Luck to you, if you need the recommendation of a local Realtor, let me know!
Edith Karoline - YourRealtor4Life!
Working always in the very BEST interest of her clients!

PS if you ever know about anyone who is moving to Chicago and/or Northern Illinois, refer them to me.
thank you! Edith
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Sun Aug 30, 2009
Sheri Mapes answered:
Hello Curt,

Hope you are having a great day.

Many times it is persoanl preference to style and floorplan of a home depending on your family.

What I can say based on the majority of buyers I have and speaking from experience, that buyers like having a living room and a family room, so they feel as if there is a place to go other than one living space in the home. The dining room is for families that like to entertain or a larger family that needs the space.

The best middle ground for "resale" of a home is 3 bedrooms, at least 1.5 baths, dining room, and family room...along with a garage. A fenced in yard is a big factor too for many buyer's... for their children and pets.

Hope you have a great day and Happy House Hunting!!!

Sheri Mapes the Cincy House Expert
(513) 253-7156
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