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19018 : Real Estate Advice

  • All24
  • Local Info1
  • Home Buying17
  • Home Selling5
  • Market Conditions0

Activity 22
Wed Aug 16, 2017
asdf answered:
Sun Sep 7, 2014
Diane Christner answered:
Before you consult other real estate agents, you really should carefully read the terms of the listing agreement you signed as doing so may put you in breach of contract.

There could be a number of factors in play here -- market conditions, your pricing of your home, curb appeal, marketing or other outside factors such as curb appeal of neighborhing homes, traffic noise, etc.

Since you have an established working relationship with your agent, have you sat down with him/her to discuss why you are not getting showings? Have an honest discussion about your listing.
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0 votes 1 answer Share Flag
Sun Dec 1, 2013
Joshua Stein answered:
What does your lease say? In most cases, the only thing that will change is who you make your rent checks out to.

However, if the new owner plans to live there, they may choose to invoke the escape clause (typically 30-60 days) that is built into the standard lease used in PA.

Joshua Stein, ABR®, e-Pro®
REALTOR®
Coldwell Banker Preferred – Conshohocken

Office: (610) 828-9558 * Cell: (215) 866-8030
Direct: (484) 270-1165 * Fax: (215) 999-5894
Email: jstein@cbpref.com
Web: www.joshuasteinhomes.com
Blog: http://jsteinhomes.wordpress.com/

PA License #RS317975
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0 votes 2 answers Share Flag
Tue May 28, 2013
ataintedbrownie answered:
Can someone tell me why so many rentals say "sale pending?" Does it mean the person who rents the property is kicked out as soon as the sale goes through?
0 votes 8 answers Share Flag
Fri Dec 14, 2012
Sarah Goulart Nathe answered:
I have done that with a move from PA to MA. While we qualified to buy a new home before selling our current one, we wanted to sell first and ended up staying with friends for about a week in between closings and had the moving company (Bekins, who were wonderful) store our stuff on the truck for that week.

Talk to a realtor or a few and a financing person and find out what will work best for you and your family. We made a few trips up to the new state in the year before our move and made an offer contingent on the sale of our house before we put out home on the market.
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0 votes 4 answers Share Flag
Wed Oct 10, 2012
Benny Smith answered:
From the buyers I have helped reestablish it seams that not being late after the BK is the most important thing. Then Time is the key here. Expect three to four years for any decent rates from the date it is discharged. I can recommend some good lenders if you are ready. Benny Smith 412-498-7868 ... more
0 votes 2 answers Share Flag
Tue Sep 11, 2012
Nick Deluca answered:
it depends on the agent. I get the answer in around 45 days from when I contact the bank. I just did one that was around 63 days from start to settlement. You do have an agreement and it is binding. Getting to settlement depends on the agent, the seller and you. If you don't have an agent or would like to ask me questions feel free to email me nickdelucarealtor@yahoo.com. I do a lot of them but don't go out and advertise it. I think some people just try to make money on someone's hard times. I like to help people. ... more
0 votes 7 answers Share Flag
Tue Sep 11, 2012
Nick Deluca answered:
It could help. Just because someone tells your credit is not good enough does not mean you can not buy a home. Email me nickdelucarealtor@yahoo.com and I will see if I can help you. I live right in Springfield and just sold a few homes in Secane. ... more
0 votes 4 answers Share Flag
Sun Mar 18, 2012
answered:
Should you purchase a home that is a FNMA foreclosure, it should offer Home Path financing.
As primary residences, these properties are available with a minimum of 3% down payment and 3% credit from FNMA.
These properties are available as nonowner occupied homes, but a minimum of 10% down payment is required.
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0 votes 3 answers Share Flag
Sun Dec 4, 2011
R. Eric Axelson answered:
Hi Michael, this is a very interesting (and intelligent) question.

There was an eye-opening study performed that showed that even if you sell lower now, the money you save by also BUYING low coupled with the current low interest rates make up for any slight loss you may take.

So that said, no, I don't feel you should list and WAIT, but you should consider listing and being realistic by considering any reasonable offers.

You can begin by reviewing and/or comparing the 19018 market here (info updated daily): http://www.homefinder360.com/mimarket/zip/19018

You can then search for multiplexes/investment properties in the Lansdowne area here: http://www.homefinder360.com/listings/areas/41526/propertytype/MULTI/listingtype/Resale%20New,Foreclosure%20Bank%20Owned,Short%20Sale

Given the complexity of your situation, I would like to buy you a cup of coffee at a Starbucks near you. I can bring my laptop and we can do some research live.

I truly hope you have a wonderful holiday season.
Just have a brief question? Call or email anytime -- day or night!
I work hard (and smart) so you don't have to.

R. Eric Axelson, Associate Broker
Kurfiss Sotheby's International Realty
South Jersey | Philadelphia | the Main Line | Bucks County | New Hope
In NJ 856.617.1212
In PA 215.735.2225
axelson@kurfiss.com | www.kurfiss.com
www.homefinder360.com/featuredlistings
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0 votes 11 answers Share Flag
Mon Jul 25, 2011
Donald answered:
6 months plus depending on price range you are in. First time home buyers market is awful.
0 votes 1 answer Share Flag
Wed May 4, 2011
Nancy Celia asked:
cant figure out why it has been on market soooo long...started out at 179, now TREND sheet shows its 159K, not sure when price dropped....its a bigger lot and decent looking house and average…
0 votes 0 Answers Share Flag
Tue Jan 4, 2011
answered:
Hi Angie, you have received some good answers so far, the gist being the closing date is specified in the purchase contract, and without a mortgage issue (I am assuming your friend either is paying cash or has a mortgage approval, so no mortgage issues), your friend should be able to move in as the full owner the day of closing, or as a rental previous to the closing date when she becomes the lawful owner.

Perhaps I am reading more than is here, but your statement "now sale is pending" makes me think perhaps this is a short sale property. If it is a short sale property, you may be awaiting the third party approval from the original lender accepting the "short sale" offer your friend has made. If that is the case....you may be in for a much longer wait than is specified in the purchase contract.

I hope I am wrong, and you are helping your friend move in this week!
Jim, HSOA.
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0 votes 12 answers Share Flag
Tue Sep 7, 2010
Edmund Choi answered:
Megan,

Welcome to limbo -- decent activity level, but no offers. Although offering a seller's assist may be an attractive inducement to a prospective buyer, you should consider either a price reduction or "investing" in your property's appearance in step to set your property apart. At this moment, you are helping to sell your neighbor's home, which may be priced lower and/or in better showing condition. It's a tough market, and differentiation has never been more important. ... more
0 votes 4 answers Share Flag
Thu May 20, 2010
Meghan Donohue answered:
Hi Linda - thank you and everyone else for their responces. Our house has now been on the market a little over 3 months. Weve been averaging one person a week that is looking at our house, even after the tax credit ended. We retook our pictures but they are only changed on our realtors website, not on everyhome or trulia, so our "old" pictures are still up there. Anyways, the feedback that we've gotten has all been positive "showed well, some said it showed "excellent" and that each time (even before we reduced our price) agreed that it was "priced right". Only ONE realtor said it showed "fair" and said it wasnt what their clients were looking for. So I am so confused on what we are doing wrong. The biggest drawback is that we have a trolley on our street, but otherwise, the street is very nice, parks on it and besides the trolley it's a very very quiet street. I was thinking if it's still on the market in the fall I will try taking it off the market. ... more
0 votes 14 answers Share Flag
Sat Jan 9, 2010
answered:
Rafael, The first step is to get pre approved with a lender that you trust. The loan officer will analyze your verifiable income, credit, assets, etc and give you a max pre approval amount. You will then want to compare this with your comfortable monthly payment. You will then want to find a knowledgeable and experience realtor. I'm a mortgage banker. I'd be happy to assist you. The process doesn't take very long. Happy New Year! Chad Bahnsen cbahnsen@mortgage network.com 610 622 2212 ... more
0 votes 7 answers Share Flag
Fri Oct 2, 2009
Martin Macisso answered:
Fannie Mae has a special P&S addendum they include in the acceptance of an offer....it has a lot of legal wiggle room...its basically gives them a pull out option if they feel there has been any breach of the contract....they are unscrupulous...don't be surprised at anything they do. ... more
0 votes 3 answers Share Flag
Fri Sep 11, 2009
Keith Manson- Metro Milwaukee Wisconsin answered:
The 203k program has been around a long time. The issue has been finding lenders that handled the program. The loan program is more time consuming and limited lender either offer the program or wish to offer the program. Currently ,at least in the milwaukee area, the lenders that offer the program are the larger loan servicing companies. It is best to get preapproved by the lender before you make your offer. This way you understand the program and the amount your pre approved. The agents that should understand these loans are buyer agents that work in the foreclosure market.

Good luck


Keith Manson
First Weber Group
Crtified Distressed Property Expert
Greenfield,Wisconsin
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0 votes 4 answers Share Flag
Tue Jul 14, 2009
Bev Kalb answered:
It is not uncommon for a bank forclosure to require the buyer to pay both sides (2%) of the Pa. transfer tax.
This should have been stated in MLS. However, even after the bank accepts your offer they will require the buyer to sign several addendums spelling out the banks terms for purchase. Your Realtor should examine and explain ea. addendum to you or have an attorney review. Sounds like Wells Fargo is the bank who holds title to the property. With so many Real Estate deals going bad they want to make sure that you are qualified to purchase the property. Again, make sure you read and understand every addendum as each banks is different. ... more
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