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Home Buying in Far North Dallas : Real Estate Advice

  • All43
  • Local Info11
  • Home Buying7
  • Home Selling1
  • Market Conditions2

Activity 7
Mon May 6, 2013
Derrick Sakai answered:
Some banks are open to negotiation. But the price should not go too low to be rejected.
0 votes 19 answers Share Flag
Wed Apr 10, 2013
Joe Fox answered:
It is all about who does the stucco. Some companies have done well, other's did not. If there is any question, hiring a Stucco Specialist is important.
0 votes 12 answers Share Flag
Sat Apr 9, 2011
T.E. & Naima Sumner answered:
This home was listed for sale for about 8 months and was last priced at $294,000.

It went under contract about 4 months ago but has not yet closed. We don't know the exact amount of the contract price, since it has not closed.

It might return to market if it doesn't close soon.

If you're interested in homes like this one, there are 4 just north of that I could send you similarly sized and priced and in nice neighborhoods. Just send me an email.
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0 votes 2 answers Share Flag
Wed Mar 16, 2011
T.E. & Naima Sumner answered:
I hope you're understanding there are 2 issues here and we're flipping between them because we don't recognize the term "nonwarranted, non FHA approved"

A. Properties that have multiple owners, like a condo or a townhouse, must not be owned mostly by investors. FHA will not approve a loan on properties in that development until the percentage of owners rises above a certain level. Condos where you can buy are "FHA approved".

B. FHA will not insure homes that have certain defects in them. Usually these, as Becky points out, are HUD foreclosures sold as-is, and are labeled "uninsurable". Those defects can be corrected using a renovation loan. FHA has a 203(k) loan that sets aside an escrow account for the repairs to be done after closing. Only certain lenders will offer a 203(k), because they are a lot of work on the lender's part.

So, if the problem is "A" (that the property is owned by too many investors and is not approved for FHA loans), there is not much you can do except use a conventional loan.
If the problem is "B" (that lender-required repairs must be completed to qualify the property), you can use a 203(k) loan from a lender who offers them. By the way sometimes a 203(b) will actually work, too.
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0 votes 9 answers Share Flag
Mon Aug 23, 2010
T.E. & Naima Sumner answered:
Without knowing the particulars of the property it would be difficult to give an answer that fits the situation.

It's possible the house is appraised well under market for its amenities and condition, but on the other hand the tax appraisal could be accurate or above market. Please remember that sellers don't offer properties at the lowest price they'll take - the list price is usually the highest they think they can get. Some will come down from that, others won't.

Ask your Realtor what comparable houses are selling for and from that decide a negotiating starting point.

Check out the area and prices at
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0 votes 17 answers Share Flag
Wed Jul 8, 2009
Kim Hayes answered:
If the tenants aren't paying rent, then why aren't you evicting them? I don't think the lenders could or would stop you from doing that because as you said they don't want to let the property go. I get this sense that you think you can't do anything because its the lenders property and not yours. Or, that they are partners with you, almost like investment partners. Either way, this does not absolve you. Understand the lender does not own the house, you do. it seems you forgot that you own this house and they funded it for you. Whether your tenant is paying or not, you sill have to pay the house or lose it. It's obvious you know what to do because you basically list it for us and you know what will happen if you don't do anything. So, the question should be why you aren't doing anything and why you don't consider yourself playing a bigger role in this because you do. ... more
1 vote 9 answers Share Flag
Fri Aug 1, 2008
Viktor Taushanov answered:
City appraisal is not accurate. You need a comp based on the recent sales and current listed data and based on that to make your offer, so before I know the area and the market I can't advise you.

I would be glad to help!


Viktor Taushanov
Coldwell Banker Residential Brokerage
972-758-2045 Direct Line
214-697-6797 Cell
... more
0 votes 11 answers Share Flag
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