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21061 : Real Estate Advice

  • All23
  • Local Info2
  • Home Buying7
  • Home Selling5
  • Market Conditions0

Activity 19
Wed Jan 25, 2017
Malcolm Lawson answered:
Do you have a copy of the contract? Are there any clauses in it such as a home inspection clause or a financing clause? These allow you the option to walk away for specific reasons stated in the clause. Did you submit an Earnest Money Deposit? If you walk now you might loose your deposit ... more
0 votes 1 answer Share Flag
Tue Sep 6, 2016
Jennifer asked:
Wed Mar 16, 2016
answered:
I would demand that they foot the bill to have the repairs professionally inspected to make sure they were done to your satisfaction. And make certain that the proper permits were pulled from the city (if required). Unpermitted improvements are no joking matter! ... more
0 votes 2 answers Share Flag
Thu Feb 25, 2016
Sally Grenier answered:
Unfortunately, each person on the loan needs to qualify (good credit, income, debit to income ratios, etc.) . You should sit down with a local lender who can review all of your financial info and point you in the right direction. ... more
0 votes 1 answer Share Flag
Tue Aug 25, 2015
Ronald Davis answered:
Howard County is a most sought after community as it relates to schools.
0 votes 2 answers Share Flag
Wed Jul 22, 2015
My NC Homes Team answered:
Allow me to share some information about "Rent to Own" based on my 35 odd years in real estate.

Rent to Own is more urban myth than reality. There are only two situations where someone like yourself will encounter "Rent to Own" and neither is desirable.

In the first situation the Seller has been unsuccessfully trying to sell their property often for a year or more and they cannot find a buyer. The reasons for this can be many such as; high crime rates, terrible condition of the property, stigmas the house may have such as some one murdered in the home, or a home used as a meth lab for example. There are others but I'm sure you get the idea. In this case the seller is so anxious to sell their willing to do anything, but Buyers should ask themselves why would I want to inherit this Seller's headache?

The second situation is in my opinion actually worse: it's when very savvy Sellers set out to intentionally take advantage of less savvy Buyers. They never have any intention of the Buyer owning the home and the contract they prepare almost ensures that a Buyer will never be successful in meeting the terms. Their intent is to get above market rental income with the promise that one day you'll own the property and if by chance you actually were able to fulfill the terms of their agreement their OK as they got well above market price for the property, but what happens 95+% of the time is that they simply take the home back when a buyer fails to fulfill one or more of their contract terms and they then repeat the process.   I've been active in all aspects of residential real estate for more than three decades and can honestly report that I have never once met a single buyer who was successful with "Rent to Own" 

Right now we're in a strong sellers market, and frankly there's no reason any legitimate seller would offer a Rent to Own option,
... more
1 vote 1 answer Share Flag
Sun Jun 7, 2015
Christopher Fritts answered:
You need to pay a visit to the leasing office or speak with the property manager. When you visit, bring a written list of the items in need of attention. Good Luck!
0 votes 1 answer Share Flag
Mon May 27, 2013
Don Tepper answered:
That's an amazingly low price. I just redid a property in Northern Virginia--an older rambler--and had two bathrooms redone. One was simple--we just replaced things in the same places they'd been. The other we totally redid, moving everything around. Our cost was about $7,000 per bath.

Your material supplies alone will run over $1,000--tub, sink, vanity, toilet, tiles around the tub, tile floor, mirror or medicine cabinet, towel bar, light, exhaust fan (and the venting for it), etc. You might also have to reinforce the floor, since you're putting a bathroom in an area that wasn't designed for one. Then, of course, you have the plumbing and electrical. Plus a new paint job for the parts that aren't tiled. You'll probably have to run a new electrical circuit up to the bath (for the GFI, if nothing else).

If you can get a new bath (or even half bath) installed--with proper permitting, done by licensed contractors--for $2,500, I'll send you a set of bath towels for your new bath.

Hope that helps.
... more
0 votes 3 answers Share Flag
Mon May 27, 2013
Gordon Parker answered:
Ktavshire,

A person usually gets what they pay for. If a company usually cuts cost they usually cut service. But just because you are paying top dollar for a job doesn't mean you'll get every dollars worth of service either. Always do research on the company that you are going to hire. As well, always know what the job entails (Google it and YouTube it) so you can make sure it's being done right and your contractor isn't wasting time and over charging you.

Screen them just as much as your employer did you when you applied for their job.

I have a particular time schedule I require contractors to work in. If your time frame for smaller contractors to get the job done doesn't work go with the larger company to get it done in the time frame needed.

Good Luck on your home improvement endeavor.

Respectfully,

Gordon Parker
McCOLLY Real Estate
gtparker.mccolly.com
219-712-5885
gtparker@mccolly.com
... more
0 votes 1 answer Share Flag
Tue Jul 24, 2012
June Piper-Brandon, MRP answered:
There are currently 3 active listings nearby ranging in price from $131,250 to $229,500. There are 6 homes under contract ranging in price from $115,000 to $199,500. Then there have been 10 homes sold ranging in price from $118,000 to $194,900. These are the statistics for the first half of 2012. I chose homes that closely resemble the home at this address and share the same number of bedrooms and bathrooms, no basement and similar square footage. If I can be of any further help please don't hesitate to ask.
June Piper-Brandon
Associate Broker
Century 21 New Millennium
410-292-0100 - Direct
410-730-8888 - Office
... more
0 votes 2 answers Share Flag
Mon Apr 30, 2012
Natalie Dean answered:
Hi Michelle:
I would love to be of assistance but no information came through the inquiry. Please feel free to search on my website like a Realtor. As well I am happy to assist so inbox me at your leisure.

All the Best!
Natalie Dean
202-438-1056
... more
0 votes 3 answers Share Flag
Tue Feb 7, 2012
Shannon French answered:
Hi Monika,

Unfortunately, some reasons many landlords do not take Sect8 vouchers are because they've had bad experiences or have heard of bad experiences with Sect8 tenants. Unfortunately actions of some voucher holders have been:
- not paying their portion of the rent each month on time or at all.
- not taking care of the property, even causing significant damage to the property.
- having more people live in the home than what is disclosed on the application.
Even more unfortunate is that the above actions have been so significant that it's not worth the guaranteed rent payment deposited into their account on the 1st of each month.

Certainly you can understand how a landlord would be frustrated with this type of experience with someone who's rent or significant portion thereof is paid with taxpayer funds just as I can understand your frustration that the actions of some affect the whole group of voucher holders.

To answer your question "What should I do?", my response would be to figure a way to communicate to your potential new landlord that you are not like the above described "bad apples" of the bunch. One idea would be to invite the potential new landlord to view the home you are currently in to see how well you take care of the home. Another idea would be to have your current landlord write a letter on your behalf supporting what a great tenant you are along with their contact information to confirm the reference.

Other items a landlord would want to know up front, typically before showing you a property:
- What county voucher you have?
- How many bedroom voucher you have?
- What does your current voucher pay and what is your portion?
- If you have a portion to pay each month, how many times have you been late in the last 12 months paying it?
- Do you have your RTA in hand? (some landlords won't show any property to you until you have this green paper that you get from Sect8).
- How much of a security deposit do you have available? A standard security deposit is 1 month's rent, but could be as high as 2 month's rent.

And finally, last time we checked, D&W Properties is a property management company that usually has quite a few Sect8 homes available in Anne Arundel county. Although we don't do business with them anymore, I would be surprised if they didn't have Anne Arundel homes for Sect8 holders. Their phone # is 410-760-RENT (7368) and their website it www.gotrent.net. Email is at information@gotrentnet. Their office is at 1412 Crain Hwy, Ste 5B, Glen Burnie, MD 21061.

Wishing you all the best!
... more
1 vote 2 answers Share Flag
Sun Jan 1, 2012
Ariana Loucas answered:
Dear Megan,
The home on Norfolk has listed the following as included: Appliances: Dishwasher, Disposal, Dryer, Exhaust Fan, Refrigerator, Stove, Washer.
For the home on Poplar, it isn't specified. It is always something we can request. Should you have any further questions, please feel free to contact me directly.
Regards,
Ariana Loucas
... more
1 vote 4 answers Share Flag
Wed Mar 30, 2011
Suzanne Valentin answered:
Hi Craig,

Now is the perfect time for investors to purchase property. There are some fantastic distressed properties out there that need little work to make it rentable. As a Certified Investor Agent Specialist, I can quickly show you the Cash on Cash return for each property, that will take the emotion out of the purchase and let you search by the highest amount of Cash Flow and return for your $$. email me at: Suzanne@thevalentinteam.com to learn more.

Regards,

Suzanne Valentin, Realtor
Re/Max Leading Edge
443-822-5919 direct
410-721-9600 office
suzanne@thevalentinteam.com
... more
0 votes 13 answers Share Flag
Sat Sep 11, 2010
Paul Moffett answered:
hello,
Sorry to hear about your frustrations.
Real esate is very simple..it starts with the value of a house is what the market will bear,if you have been on the market for 77 days and no offer and little activity then you need to drop the price.
You also need to make sure your home is marketed to its fullest extent.Nowadays people expect still shots and a virtual tour which we supply for all our listings.It is done by a professional photographer,not us.It will look so much better by them.
Its all about how your home is presented and where it is being marketed then.
Sometimes a fresh start can make a difference with homes being presented in a stronger light getting more exposure which leads to more activity which then leads to getting the best price possible for your particular home.
Take care,
Paul Moffett

Remax Advantage Realty
... more
0 votes 8 answers Share Flag
Mon Mar 15, 2010
Ruth Popek answered:
Usually there is a provision in your contract that allows you a certain amount of days to review the HOA documents once the contract is accepted. Since there is a cost to obtaining the docs, and you also want them to be the most current, they are generally not obtained before a contract has been accepted. Once you have reviewed them, if they are not accceptable to you as a buyer, you have a certain number of days within which you may cancel the contract. ... more
0 votes 4 answers Share Flag
Mon Mar 15, 2010
Ruth Popek answered:
Harley, due to the time you asked the question, has the situation changed? The weather certainly has not helped showing the past month. We are seeing more activity now.

Price is a major factor
Marketing...are there alot of pictures posted for your home? There are many different websites that
prospective purchasers preview home before actually visiting.
Curb appeal...does your home invite people to enter?

Are you working with a realtor or trying to sell on your own ?

Please check out my website: www.marylandhomeprices.net
I would be happy to assist you, if you are not working presently with a realtor.

Ruth Popek, Century21
410-458-9592
... more
0 votes 15 answers Share Flag
Fri Jul 17, 2009
David Oliva answered:
Hi Dana,

Selling a home today can be frustrating, and if their is an solace in the saying misery loves company, you have lots of company.... I pulled your home up on the mls and you've got lots of pictures ( love the hardscaping), Your agent has taken the time to ensure that all the information is filled in and you are offering a competitive coop commission. So, the easy stuff is covered.

The 5 most important factors that control the salability of a home are Location, Size, Condition, Price, and Marketing. The two most important factors, Locaton and Size are given and you won't be moving your home or changing it's size. That leaves us with Condition, Price and Marketing. It's not always easy to tell from the photos, but your home looks to be in good condtion, so we have price and marketing left. Your real estate agent is in control and responsible for the Marketing, but if the price isn't right no amount of marketing will be able to overcome that hurdle. Ask your agent to provide you with an updated CMA, 90 days or less of homes similar to yours and w/in close proximity. Buyer's will be using this data, so will the appraiser. Take a hard look at the numbers, drive by the sold homes, ask your agent to arrange a showing of the top competition homes. Then sit down and discuss your findings and decide how to proceed... Good luck to you .
... more
0 votes 30 answers Share Flag
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