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Lincoln : Real Estate Advice

  • All86
  • Local Info6
  • Home Buying28
  • Home Selling7
  • Market Conditions1

Activity 87
Wed Oct 5, 2011
Johanna Rhoads answered:
Hi,
I would agree that a few months is a good amount ahead of time to begin looking, even if just on the internet. What city in Nebraska are you moving too? If Lincoln, I would love to send you appropriate listings, just let me know.

Best,
Johanna Rhoads
Johanna.Rhoads@woodsbros.com
... more
0 votes 5 answers Share Flag
Wed Oct 5, 2011
Johanna Rhoads answered:
Hi Dean,

I am local in Lincoln, NE and would love to try to help you or set you up with the people that can.

Best,
Johanna Rhoads
Johanna.Rhoads@woodsbros.com
0 votes 2 answers Share Flag
Tue Sep 6, 2011
Jan Nicola answered:
I closed recently on a rent to own and am negotiating another one. Just make sure all details are spelled out clearly, in writing.
0 votes 4 answers Share Flag
Mon Jul 25, 2011
HuskerFSBO.com answered:
Typically the square footage does not include the basement. Also I will note that in a split level or multi level situation any square footage below grade is typically not included. In Lancaster county if you review the Assessor's record of the property (can view online) you will see the amount of square footage that is above grade.

HuskerFSBO.com
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Sat Jul 9, 2011
Lynne Maxwell answered:
Hi Ashayk12,
It appears that Trevor Mcarthur has answered some of the questions you asked. In addition to his advice, I would call a several insurance agents located in Lincoln NE to see how the location of the property you wish to purchase, size and type of property and credit ratings effect cost of insurance. If you are interested after receiving that information, I would contact a lender. Bank or Mortage companies can tell you what type of property you qualify to purchase. All sellers require information concerning the ability of the buyer to buy their property. If you wish any other information, you can reach us at 402-890-4004 or 402-430-9934.
Have a great week!
Bill Rose & Lynne Maxwell
LincolnFirst Realty
Lincoln, NE
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0 votes 3 answers Share Flag
Wed Jun 29, 2011
Jason Korn answered:
Emily, getting pre-approved by a local mortgage lender is definitely your first step. I would go meet with a lender that you may already know & trust. If you don't have one, I personally would recommend working with a lender that is with a locally owned bank. A mortgage officer will be able to tell you if you qualify for a loan, how much of a loan, & if you don't qualify, they should give you tips on how to get to that point.

Another option is that you could find someone looking to rent-to-own. However, there are both good & bad qualities with this option. If you have any questions or would like to just talk about your options, feel free to contact me anytime.

Have a great day Emily!

Jason Korn
RE/MAX Real Estate Concepts
402.310.0409
jason@kornteam.com
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0 votes 3 answers Share Flag
Tue Jun 7, 2011
Truliarox answered:
Hi I am totally looking for a house and your house is exactly what im looking for! If you could post your house on one of the websites that would be awesome!!!! I'd say start off with 159,000 oh and if you tell me your address that would help to because the area means alot having to due with the price. ... more
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Sat May 14, 2011
Suzanne MacDowell answered:
A HAMP refinance will have a negative impact on your credit score, but then so will a short sale or a foreclosure. They are not very easy to get, though. The banks really don't want to do mortgage modifications because the government is paying then, by covering their losses, to do short sales and foreclosures, but not to modify loans.

If you are one of the lucky ones and actually GET your mortgage modified, you will probably be fine to purchase a different property in two to three years.
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Mon Feb 28, 2011
Becky Stewart answered:
If I had the address I would be able to answer your question better, but since you said you had called the builder, this must be new construction. Didn't the builder answer your question? With new construction many times they have several lots to choose from and they have a model home which they are proposing to build. They often show a picture with the word Simulated on it showing that it is the type of hopuse that they are going to buld but it may not be built at all yet or it may be in a partial state of completion.
The price difference may be due to differences in finish work and which lot you pick. ie 2 stall vs three stall garage or finished vs unfinished basement or the quality of carpet, flooring woodwork cabinetry etc that you may choose. With the address I can look it up for you and see what the situation is.
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Mon Jan 24, 2011
Hannah Fliegel answered:
Hi Mindy,

Hopefully you haven't acquired new debt after gaining debt relief from your previous bankruptcy. You would want to start with your credit report. Here is a link where you can pull your credit report for free.
http://www.annualcreditreport.com

Here is a link where you can pull your credit score for free

http://www.creditkarma.com

Even if you have terrible credit you might be able to qualify for a home loan. It will not be a good loan product. There are thousands of mortgage brokers out there who would be thrilled to work with you and get you into the first mortgage product they can, even with less-than-perfect credit.

However, if you take the time first to work to improve your credit profile through credit repair and some credit restoration strategies you can probably expect to get 100 points or so added to your credit score. What this means to you is that your mortgage product will be a better mortgage product with a much lower interest rate.

Example

$100,000 home loan at 7% interest rate with poor credit will cost you $665.30 per month

$100,000 home loan at 4.5% interest rate with GOOD credit will cost you $506.69 per month

What can you do with an extra $158.61 dollars in your pocket each month for the same house?

The yearly difference is $1,903.32

Over 20 years the payment difference is $38,066.40

I trulia hope you make the sensible financing choice and start with improving your credit first, then select a home loan product which is right for you and then select the house.

Good luck!

Hannah Fliegel, FICO Pro
415-999-9348
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0 votes 4 answers Share Flag
Fri Jan 7, 2011
Emily Erekuff answered:
Hi Toni,

I see that you've claimed this home on our site as the property owner. In order to release your claim, visit the Favorites section of your Trulia account, and click on the Claimed Homes tab. On that page which shows your home you should find a button that says "Release claim." Just select that and you'll un-claim the home.

Please let us know if you experience any difficulties with this process or if you have any other questions.

Best Wishes,

Emily Erekuff
Community Moderator
... more
0 votes 3 answers Share Flag
Fri Jan 7, 2011
Sarah Klamm answered:
Foreclosure sites that charge for the list or offer free information often have missing or incorrect information associated with them. Some of them post crazy low prices that are not correct just to suck you into their site. ... more
0 votes 9 answers Share Flag
Wed Sep 15, 2010
ruby smith answered:
Well, you have a almost too usual of story. This is very common. Sometimes it takes doing something unusual like offering a bonus to the agent bringing a buyer. I don't know what your value is, but lets imagine that your property is priced at $500k, if you have been inching down your price, it makes it look like you might not know what to do and so the jackels sit by the wayside waiting for your next move. The market will give you your answer. So, i would advise first offering to the buyers agent an extra $5k, its better then lowering it $5k because that's such a small amount and it generally gets attention, make a caveat on it that it's only for a full price offer., Give it two weeks then lower your price within 2-5% lower then the mot rececnt comp. If that doesn't make it happen then I would advise that unless you really need to sell because you have to relocate for a job or something like that, then you should stay put. The universe has spoken ... more
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Fri Sep 3, 2010
The Hagley Group answered:
the site below should be able to provide answers to alot of your questions.
0 votes 4 answers Share Flag
Fri May 21, 2010
Matthew O'Shea answered:
Kiffany-

There is a lot of incontinuity in the neighborhoods of Lincoln, NE. Depeding on which neighborhood you are looking in, you will find homes that range from $200k-$300k, surrounded by townhomes and an aparment complex. To find the avg price per sqft of what you are looking from is going to require that you find which area of Lincoln you wish to live. Then you will be able to find a more valid price per sqft, as oposed to trying to get an overall avg.

Having said that, in a nice neighborhood with good continuity I would say you will find the avg price per sqft in a range of $110-$150 per sqft.

If you ever need to call on my professional assistance to answer any of your questions, feel free to contact me directly through this site, or email me at osheamatt@palincoln.com
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0 votes 1 answer Share Flag
Sun Apr 11, 2010
Jeanne Feenick answered:
Impossible to answer - if the home is priced properly then $69,900 is a good price to offer, if it is priced under market then should move fast. If it is overpriced, then your offer should reflect that. The only way to answer your question is by looking at the comps and doing a pricing analysis to determine the market value of the home. Your agent can and should do this analysis for you to guide your bidding process and negotiations.

An offer based on the facts of the market is far more likely to succeed than one that is not.

Good luck,
Jeanne Feenick
Unwavering Commitment to Service
... more
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Thu Nov 5, 2009
Jane Summers asked:
Wed Oct 14, 2009
CCC answered:
A short sale does not get approved on 7 to 10 working days. Don't get confuse about REO and short sales.

Short sales takes time, I have done short sales approvals in 21 days and others that its been 4 months and nothing. So if you really want the house, you might need to wait, if you need the 8k credit, you might need to check what is available. I recommend you to check with your Home Mortgage Consultant on yoru mortgage approval. Update documents is a good idea. Once the approval is given, most lenders will only allow 30 days to close.

Check with your Realtor about time frame.

Good luck.
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0 votes 3 answers Share Flag
Sun Jul 19, 2009
Bill Eckler answered:
Sue,

If paying cash for the property, you should have no problem.

On the other hand, if financing, the bank will want to protect their interests through a variety of safeguards that may include a pest inspection. It would be reasonable for them to take the position of requiring the home be free of WDO's(wood destroying organisms)

Talk to your agent about how to wordsmith your purchase offer to insure that your interests are protected either by the seller remediating any identified problems or you as the buyer being able to walk without compromising your escrow money.

Good luck
The Eckler Team
... more
0 votes 2 answers Share Flag
Tue Jun 30, 2009
Matthew O'Shea answered:
Thomas,

I have some ideas that may be of use to you in this situation. Do you currently have a Realtor? If not, I would love to help you in your situation. If you do have a Realtor, I would suggest you work out your situation with them. ... more
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