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85296 : Real Estate Advice

  • All29
  • Local Info8
  • Home Buying12
  • Home Selling1
  • Market Conditions0

Activity 25
Thu Jun 30, 2016
[Continued from the post immediately below this, read there then finish here. This will later be consolidated into a blog post]

In my area, many people are buying homes that were built in the 50's that had a lot of wasted space above the garage. They're buying or refinancing and adding additions above the garage. Typically though, a garage's foundation isn't poured to withstand the weight of cars+an addition on top of it so the garage foundation needs to be partially dug out and new concrete must be poured that can withstand a much higher weight per square inch. After that's done, they build the addition and walla, you have a new bedroom!

If you're an investor looking to do some rehabbing, there is a product just like the 203k that investors can use as well or you can use to renovate a second home, say a vacation home by the lake or in the mountains, etc. This post is already extremely long so I'll leave that discussion for a blog or another post. Feel free to check out other posts about rehab financing in my past blogs.

After all this typing, I may turn this into a blog post, don't be surprised if you see me re-post it. :)

If you need additional help, you can contact me by clicking on my picture/profile.
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0 votes 7 answers Share Flag
Fri May 15, 2015
Rich Giddings answered:
Roy--if you haven't gotten your question answered, let me know. I would be more than happy to speak with you. Thanks.
0 votes 12 answers Share Flag
Wed Mar 4, 2015
whitewitchpa18 asked:
Mon Feb 9, 2015
Edward Maddox answered:
When it gets more complicated, as it sounds, you definitely need to contact a real estate attorney.
0 votes 3 answers Share Flag
Mon Apr 7, 2014
Kent Brown answered:
As Betsie previously indicated, there is a huge price range for that home in Gilbert. Do you know what neighborhood(s) in Gilbert you are considering? If not, your budget my help determine some of the great neighborhood to consider. Give me a call if you'd like to discuss further. ... more
0 votes 4 answers Share Flag
Sun Sep 1, 2013
lendersnetwork answered:
Yes there is a new program for FHA by HUD for people in your shoes you just need 12 months from the date of the Bankruptcy, short sale or foreclosure.

The U.S. Department of Housing and Urban Development (HUD) recently announced the “Back to Work – Extenuating Circumstances” program, aimed to help people who have lost their home through foreclosure, short sale or bankruptcy. HUD has reduced the previously required minimum of 36 months to 12 months before they may be able to finance another home, given that they meet HUD’s minimum eligibility requirements. ... more
0 votes 11 answers Share Flag
Thu Jul 25, 2013
Doug McVinua answered:
Short Sales should be called Long Sales as the average is still 3-4 months for response time.

A VA loan is not always favorable to a seller due to some of the things listed below by others. It is going to be harder to get an offer accepted with your VA, its possible but takes a little more work.

Thank you for serving our great country! I wish the VA loan process was better for all parties involved.

We do have some other 100% money available if you are ever interested.
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0 votes 20 answers Share Flag
Sun Mar 24, 2013
Hi Gary,

There can can up to 30 different criteria for quoting a rate. Bill gave you some good answers regarding anyone providing you an interest rate. You also mentioned that you(?) are a "non-resident" - are you referring to citizenship, or that this property is a rental property, or both?

Please feel free to contact me directly if you have any further questions, I'd be glad to help.

All the best,

Roswell Moore, CMPS
Certified Mortgage Planner
480-422-5095 direct

We are a Direct Lender, Mortgage Bank where we originate, process, underwrite, fund, AND SERVICE our loans, in-house, with FHA (starting at a 580 score AND still only 3.5% down), FHA Streamline refinance loans (NO minimum credit score, NO appraisal required), HARP 2.0 - No Appraisal Required for Refinance for Underwater Home Values, HomePath, Investor Friendly (10 financed properties), VA, VA Refinance loans (NO appraisal required on IRRRL loans), USDA loans, Jumbo loans, Conventional loans, plus, we allow Escrow Hold-Backs!
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0 votes 2 answers Share Flag
Sat Mar 23, 2013
Jennie Miller PLLC answered:
Thank you for posting a great question! I am a highly experienced property manager with extensive recommendations from my clients. I have developed an extensive marketing system to handle vacancies, thoroughly process tenant applications and have software in place that allows you to monitor the status rental income, documents, and the condition of your home. I can structure my fees and services in the amount and manner that works best for your budget.

I look forward to hearing from you soon!
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0 votes 6 answers Share Flag
Sat Jan 19, 2013
Terry McCarley answered:
I know an excellent agent I referred a seller to last year in Gilbert...let me know if you want his contact information. He can answer all questions you may have.
0 votes 14 answers Share Flag
Thu Nov 15, 2012
Stevens & Manley answered:
2 votes 12 answers Share Flag
Thu Nov 1, 2012
Zenja Darabnia answered:
Received 20 offers on a property and went well Above asking price! Yes, it is Amazing!
0 votes 2 answers Share Flag
Thu Oct 18, 2012
Stevens & Manley answered:
Mon Aug 13, 2012
Djllower answered:
I would really appreciate some help finding the best place to invest in a couple SFHs and or condos for a long term investment. I´d be more than grateful to get some straight talk about where to invest in the valley. I´m a former resident but am presently working with the US Navy in Spain, but still want to get something bought before prices get ridiculous again. I would be more than happy to give you a call whenever it´s convenient. I´ve got two loan pre-quals and want to get buying. ... more
0 votes 1 answer Share Flag
Wed Jun 22, 2011
Jeffrey Masich answered:
Dear Steven:

Yes, See this link for more information: Often it is less expensive to buy than rent in the current environment.

Most banks and Fannie Mae and Freddie Mac homes are offering to pay towards the buyers closing costs when buying a foreclosure home. The USDA loan is 0% down when buying in a qualifiying rural area like Anthem or Buckeye.

FHA has 3.5% down and Fannie Mae has 3% down.

Let me know if you have any more questions.

Jeff Masich, Realtor
Arizona Homes and Land
HomeSmart Realty
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0 votes 7 answers Share Flag
Thu Jun 9, 2011
Hi, Steve. Your credit score alone is not everything or enough. Your credit history is a major factor as well. Before you send someone your personal financial information, have that loan officer pull and review both your credit score and history. By doing so you will know what your actual score is. Mortgage or auto loan credit inquiries are the most accurate, and depending on where you obtain your present FICO, your credit score could be higher or lower. A knowledgeable LO (loan officer) will also be able to tell what if anything can be done to improve your credit score and chances of getting approved.

With VA, you also can't have certain past dues, collections, or judgements showing on your credit report. A licensed and experienced LO will know what to look for and, if necessary, how you'll need to go about correcting this. VA loans are very convoluted and complicated, requiring someone with extensive experience doing them to make certain you're taken care of.
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0 votes 9 answers Share Flag
Fri Feb 4, 2011
Jason Whaley answered:
I am an investor looking in Chandler and Gilberti right now aqnd I have a POF for you. I also work with other investors who also have their own POF. I think combined we have the ability to take down up to 1M-2M right now. Let me know what you have. Thanks, Jason 480-254-6464 Cell/Text ... more
0 votes 7 answers Share Flag
Mon Jul 26, 2010
Cs295 answered:
Taxes are a lot cheaper in Mesa and all the homes in Augusta Ranch are in the Gilbert School district. Mesa taxes. Gilbert schools. -From a happy Augusta Ranch homeowner :)
0 votes 6 answers Share Flag
Fri Jul 9, 2010
Centermac Realty answered:
Typically lenders will only consider one short sale contract at a time.
0 votes 11 answers Share Flag
Fri Nov 13, 2009
Mr.P answered:
Hey Rob,

That`s a nice home, however that`s a lot of money to be backing up to the tracks. Train schedules change. Your best bet is to talk with the neighbors.

I would definitely be in the home when a train is scheduled to go through.

My experience is that those trains are about twice a week just before dawn.

Good Luck
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0 votes 2 answers Share Flag
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