Trulia Community - Advice from neighbors and local experts

Find Your Community
We couldn't find that location. Please try again.
Get Expert Advice

Market Conditions in Kendall : Real Estate Advice

  • All19
  • Local Info1
  • Home Buying7
  • Home Selling0
  • Market Conditions2

Activity 3
Fri Jan 14, 2011
Sandra Mathewson answered:
Ask your Realtor if they have a program called "ListingBook", it is a nationwide program available through the local MLS. ListingBook IS the MLS, and Realtors can give their clients access. You will then be able to see if a property is pending, if it is a short sale, bank owned etc.
I know it is very frustrating for you and your Realtor. Benjamin was correct about looking on the consumer websites, they are just not accurate and allow only limited information for the buyer.
Good luck!
Sandra (You can see what the link looks like)
... more
0 votes 5 answers Share Flag
Thu Jan 13, 2011
Fred Griffin answered:
May I answer your question with some questions?

Is the number of Foreclosures coming onto the 2011 Market in your area going down?

Is Real Unemployment in your area going down?

Is the difficulty in getting Mortgage Loan Approval going down?

Has the number of properties For Sale in your area substantially gone down?

Is the number of Homeowners in your area that are "Under Water" gone down?

Is the number of people who are 3 or more months behind on Mortgage Payments going down?

Is the National Debt / Deficit going down?

The Answer to your Question, depends on the Answers to those Questions.
... more
0 votes 8 answers Share Flag
Tue Jun 24, 2008
Melanie Dawn Molina Wood answered:
Good afternoon, Judith! First off, I fully agree with everyone who suggested that you hire a Realtor or a real etstate attorney. As Amit noted, a professional Realtor does not cost you anything yet you will have benefit of their experience and advice.

Second, I agree again with Amit when he advised you to contact Coldwell Banker Home Loans. CBHL does not charge lender fees which will save you quite a bit of money in your total closing costs. They also have hundreds of loan programs to choose from and excellent guarantees to you as the borrower.

Now my question to you: When you indicate that they want a $5000 'deposit', have you clarified with them whether this is your 'downpayment' or actually the 'deposit'? These refer to entirely different things. Your downpayment is who much of your own cash you are putting towards the purchase (not including costs to close). $5000 is approximately 3% of the $157,000 purchase price you mentioned, and this would be about the smallest downpayment possible in today's market.

Your 'deposit', on the other hand, is the amount you put into escrow at the start of the transaction to ensure that you will complete the purchase. As others have noted, the higher the deposit, the more secure the Seller will be about your offer, but unless the Seller has already made it a requirement of sale, it does not have to be $5000. Moreover, your deposit is not in addition to your downpayment and closing costs. It is simply a part of the amount of cash you will need to complete the transaction anyway.

Again, I strongly recommend that you sit down with a Realtor or a real estate attorney who can go over the documents you have. We can explain and advise you as to each item that is causing you concern. If I can help further, please do not hesitate to call me at 305-801-3133
... more
0 votes 10 answers Share Flag
Search Advice
Market Conditions in Kendall Zip Codes