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Johnston : Real Estate Advice

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  • Local Info1
  • Home Buying1
  • Home Selling3
  • Market Conditions0

Activity 10
Wed Jul 13, 2016
Madonna Dixson asked:
I want to sell my home/have it shown as for sale on Trulia. What do I need to do?
0 votes 0 Answers Share Flag
Sat Dec 19, 2015
Samira2424 answered:
Please don't be discouraged, there are ways to rebuild your credit if you're denied, this company I was referred to used my on time rent payments and helped my credit score, with some minor adjustments you can achieve it. I just closed on my home, my credit score was 580,599,623 in 4 months it shot up to 660,692,720. A co-worker told me about this credit repair company, the consultation was free so I said what the heck and gave it a try, she gave me some simple instruction I did it and my equifax jumped up by 28 points. If you're interested her phone # is 347-500-6371 call or text and tell her Anderson sent you. Good luck my friend ... more
0 votes 1 answer Share Flag
Tue Apr 22, 2014
maryellenknowles asked:
Fri Oct 25, 2013
Annette Lawrence answered:
Purchase or create a 'big bin' storage resource. You may want to replace the coffe table with this decorative bin.

Make it a game that everytime you leave the house everything that is lose on the floor, chairs, sofa are put into the bin. When the house passes your inspection. a reward is in order for those 3 kids who are the ones filling the bin with their 'stuff' and your stuff, and the cat.

The agent will introduce the idea this home has three kids. So it very likely will LOOK LIKE A HOME WITH 3 KIDS. That is reality. Your job it to make is your home look like the best place in the world for three kids to be.

Annette Lawrence, Broker/Associate
Remax Realtec Group
Palm Harbor, FL
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0 votes 7 answers Share Flag
Tue Oct 15, 2013
Annette Lawrence answered:
Because the signer MAY have POA or is executor or other instrument of ownership that obscures onwership idenrification but gives selling authority.
Obviously, you are provided ONE distorted side of the story.
#10 indicates you have ALREADY consulted an attorny. Why are you here?
#4 suggest YOU have a real estate professonal. Why are you here?
My first inclination is the cause of all of these malfuntions is as close as your fingertips.
You seem to enjoy the aspect of playing all sides against each other and second guessing the all.
Stick with the consultation of those YOU HAVE HIRED and abandon solicitng the opinion of strangers from the internet. It will not serve you well.
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0 votes 3 answers Share Flag
Thu Sep 29, 2011
Shane Milne answered:
Your gross income (after actual expenses) is what qualifies, not net. Does the $5.5k/mo in payments include your current housing expense? Because the debt ratio would not include that since you are replacing it with your new mortgage payment. If it doesn't, then based on the numbers your debt to income ratio would be real tight - it'd really come down to the property taxes.

So you know your limitations, Fannie Mae's automated underwriting system will approve up to a 49.99% debt ratio, and Freddie Mac's system will go up to 55%. However with either, going above 45% takes some real big compensating factors, such as excellent credit (which you have), a good down payment (which at 5% I don't think will cut it, I think you may need at least 10%), and ample reserves after closing (which $2k in the bank account won't cut it, but 60% of the vested portion in your 401k after the 401k loan is taken out can count towards reserves)... but the only way to find out for sure is to actually run the numbers through automated underwriting.

In your situation, assuming a 4% interest rate, $390k sales price, $370k loan amount, the P&I payment would be $1766.44/mo. It's been over a year since I've done mortgage financing in Iowa so I can't remember how much insurance or property taxes would run, but assuming $900/year for insurance ($75/mo) and $325/mo for taxes (1% tax rate on the sales price, which for some reason I thought Iowa was higher than that so this could be low-balling) that'd make your total payment $2,166.44/mo - that isn't including the mortgage insurance (which you can actually pay a lump sum upfront in lieu of paying it every month, lowering the payment/debt ratio).

So you have your $2,166.44 mortgage payment + $5,500 of consumer debt payments, totaling $7,666.44/mo, divided by $16,400/mo, and you get a debt ratio of 46.747%. FHA permits a higher debt ratio than that, with relative easy, but the FHA loan limit in Polk County is $271k, so that won't get you where you need to be, and VA financing permits higher that too, but you/your spouse need to be a Veteran. There are conventional loan programs that aren't Fannie Mae & Freddie Mac, but they pretty much all cap the debt ratio to 45% as well.
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0 votes 2 answers Share Flag
Fri Aug 26, 2011
Anu answered:
We have been trying to sell our self. The house is listed for 259K. That's the price we bought is for. Similar houses are listed more than what we have priced or the same. Our house assess value is 262K. So i don't see a problem with the price or the location. I have kept the house very clean but not well decorated as other houses. Please suggest me if you have any other ideas. ... more
0 votes 8 answers Share Flag
Fri Apr 15, 2011
Matt Grohe answered:
Celine, Any answer to this question would be highly speculative. There is a chance of any market for anything crashing because that's the way economies work. Johnston has had a fairly stable housing market due to its fairly small size and big operations there by John Deere and Pioneer, large agricultural realted concerns which have done well in the past few years. Additionally Johnston is close to Saylorville Reservoir which is a popular recreation area. Yesterday the Des Moines Register printed an article showing the property assessments declined in Johnston by -3.2% from their prior level set in 2009. Property taxes are reassessed in odd years here.

At this point I really don't feel there is a construction boom in the area because the demand just isn't there right now and builders have scaled back somewhat from the boom times of several years ago. Some large builders have either folded or sold off their holdings to other builders so in my opinion we've seen most of the correction in prices as related to new construction. There is some excess housing inventory to the north in Ankeny however. It really all depends on the type of property you are looking at and what you pay for it however. Without knowing that, it is impossible to answer this question accurately.
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0 votes 1 answer Share Flag
Thu Dec 23, 2010
Kyle answered:
First off, why do you want to cancel in the first place?

These fees are all standard, they had to be disclosed to you properly or the loan wouldnt have been approved by the underwriter and they all have tolerances that wont allow for them to be raised later without re disclosing this to you 3 days before closing/signing loan documents.

To answer your question though, no, you will not owe those fees if you cancel.
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0 votes 7 answers Share Flag
Fri Jun 20, 2008
Tyler Osby answered:
I'm not sure on the specifics with this Andrew. If I were you, I'd check with the police department and see if they can get you the statistics.

Sorry it almost took you a year to get that weak answer ;)

I hope you find what you're looking for. If I can be a resource on anything else, let me know!
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