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Prior Lake : Real Estate Advice

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  • Home Buying5
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Activity 16
Thu Jun 16, 2016
Tatumlea answered:
A construction loan is typically a short-term loan used to pay for the cost of building a home. It may be offered for a set term (usually around a year) to allow you the time to build your home. At the end of the construction process, when the house is done, you will need to get a new loan to pay off the construction loan – this is sometimes called the end loan.

Essentially, this means you must refinance at the end of the term and enter into a brand new loan of your choosing (such as a fixed-rate 30-year mortgage) that is a more conventional financing option for your newly completed house.

Web Reference: http://USAConstructionLoans.com
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2 votes 9 answers Share Flag
Fri Apr 17, 2015
Mary Leizinger answered:
I have a similar concern and less than stellar experience with Bohland homes in Wayzata, MN. The property will be finished in a couple of weeks and I'm hoping for an upside surprise with the actual construction, but the process of getting there was the most difficult builder experience I've had in 25 years of selling real estate. We are building out a condo for a price well in excess of $1M and the allowances they have given appear to have been designed for base line bare bones property. We were sent all over the Twin Cities to make selections at 14 different vendors, (keep in mind that this property is designed for seniors), only to find that we were expected to make selections with no pricing information from most of the vendors who were apparently told they were not to make quotations to the customer. Over the course of several months, some pricing trickled in, but most if it arrived about 30 days prior to closing and contained errors and surprises tens of thousands of dollars over the allowances in some cases, despite the buyers being very careful to ask to be shown selections that were near the allowance. All in all, the process has been very chaotic and not at all what you would expect in a luxury home buying experience. Sorry for the vent, but needed to get this off my chest. ... more
0 votes 9 answers Share Flag
Sat Apr 12, 2014
Terry McCarley answered:
As the others said, Trulia doesn't update the pictures - your listing agent needs to edit the listing. Your agent needs to login to Trulia into her account and then simply update the pictures. If she isn't a member of Trulia she can register for free. ... more
1 vote 3 answers Share Flag
Fri Nov 1, 2013
Annette Lawrence answered:
Luba,
I trust your agent has advsied that 98% of real estate sold is sold through real estate professionals.
Real estate professionals require buyers to be able to purchase a home. These same professionals also enroll these buyers to access the local MLS.
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The local MLS will syndicate the home for sale informaton to affilate professional websites such as REMAX.com. These websites have an agreement regarding how the data is stored, when it will be updated, how it will be removed and who has ultimate control of the data. This is a responsible approach.
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An additional option is avaialbe. This is often referred to as the internet. Be aware, the previous option is internet based also. The difference is the pertil the home owner and future buyer will be exposed to FOREVER becuase of irresponsible behavior.
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When your home is published to irresponsible websites all control of your homes data is lost. The interior images, perhaps the floor plan, the videos are all available for anyone who means you or the new owner harm. There are hundresds if not thousands of such sites, most of which are unknown to the parties involved. The choice of placing the home for sale in these aggergate websites creates an ever present perail that you, the agent, the broker may ultimately be held acountable. Many brokers have come to realize the harm the great peril this creates for buyers and seller and have elected to restirct listing to responsible websites.
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When a real estate professional recieves a call from their buyer who states, "I found this 5/4/3, 2009 contstructed home on the water for $127,000 and I want to see it now!" the agent KNOWS 37% of the data on aggregate websites is wrong. The ageent will say, "Verifiy that home appears on the MLS. If it does not, it is a FAKE, fruadulant home for sale."
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As you can see, serius buyer will rely on serious data resources. A home appering on Z or T does NOT bring value to the owner but does create great peril.
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Finallly, what you need to do right now is go to Google Maps and blur the street image of your home.
You wll see that T uses this image when presenting misrepresented data of home that are not for sale. Every scammer in the world loves google maps so the can grab the image and publise fake homes for rent ads. If you do not blur the image, you are giving passive consent for for to do whatever they want regarding your homes data.
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If your agent has not informed you as I have, you should hold him/her accountable Once you data reaches these aggregate websites, the control of your data is lost FOREVER. The only value of 'internet' sydication is:
1. Lead generataion source for real estate agents (who are the biggest advocates)
2. Advertising revenue for wesite.
3. Entertainment for those who are not serious buyers
4. Occupational opportunity for those who want to publish bogus homes for rent, bogus lease options, bogus investment opportuntiies, bogus rto, fake homes for sale and the sytemic misrepresentation of your homes status and data.
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Real buyers rely on the MLS.
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Regarding your question, your home will appear on Trulia eventaully, UNLESS your agent has taken proactive steps to PROTECT you.

Best of success to you,
Annette Lawrence, Broker/Associate
Remax Realtec Group
Palm Harbor, FL
727.420.4041
Move to the front of the line (http://FirstLookHomes.us)
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0 votes 7 answers Share Flag
Sun May 19, 2013
David Hendrickson answered:
I was looking into that myself and the averages are from $115.00 -$300.00 per sq ft.
0 votes 7 answers Share Flag
Thu Apr 11, 2013
Rich Gross answered:
Hi Curt
I noticed your question from quite a while ago on trulia about how is the market and whether doing a refinance on your home in 2008 was a good idea. Right now (April 2013), the market has gotten extremely good and prices have increased. You might want to re-look at the refinancing with the low interest rates and the increase in property values. ... more
0 votes 3 answers Share Flag
Sun Mar 24, 2013
Julie Harris answered:
Justin,

The seller unfortunately has the right to accept the terms that are acceptable to him. If this doesn't feel comfortable in your budget or what you feel the home is worth, you can do one of two things. You can stand firm on your offer or check out other options available to you. You are in the drivers seat. Hopes this information helps. ... more
0 votes 7 answers Share Flag
Tue Jan 31, 2012
Ravit Berg answered:
Hello Torn,

I am just following up with you to see how is your current situation?
Are you still facing financial hardship?

If so,

I have completed several hundreds short sale with one and with 2 lenders successfully.
I can help you in your situation.
Regarding your second lender, we must negotiate the proper outcome which is full and final satisfaction with the second lender otherwise there is a potential outcome of a judgment.

It is all up to negotiation outcome. I am a strong negotiator and can help you in your situation.

There is NO cost for our services to you at ANY time.

I negotiate all my short sales myself and specialize in foreclosure and short sales. I am also CDPE and SFR certified (Certified Distressed Property Expert and Short sale and Foreclosure certification).

Presently, I work with lenders in helping distressed homeowners options to keep their homes.
As an experienced real estate agent, I know what it takes from start to finish helping a family facing financial difficulties. I bring expert knowledge, valuable experience blended with the latest technology, a well-defined marketing plan, a comprehensive network, energy, enthusiasm and the excitement of a job well done.


I would love to help you with your home.

Please contact me today.

My contact info is below.

Thank you,
Ravit Berg.
---------------------------------
Ravit Berg @ RE/MAX Results
http://www.results.net/ravit.berg

Cell - 952.334.4179 | F - 651.460.1272
ravit_berg@hotmail.com | https://www.facebook.com/ravit.berg
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0 votes 19 answers Share Flag
Fri Jan 27, 2012
jg5267 answered:
Rick is right. It does get mucky. I would dock my boat there and go somewhere out on the main lake to swim, ski and fish. It much like association boat use. I don't see many people swimming on the beaches in Mud Bay. You can call it crystal Bay. But if it quacks like a duck, they would enjoy it as mud bay. I have lived on PL for 5yrs and Spring Lake for 10yrs. ... more
0 votes 4 answers Share Flag
Mon Jun 27, 2011
Christopher Block answered:
I am interested to know Matt what particular program pays out $12,000 for relocation money? Oh, and HAFA is not always the best route to go either it just always depends on who is the lenders and what does the financials look like.

I will just reiterate with everyone else that a loan modification should be incredibley difficult to obtain, however there are local goverment assistance programs helping with loan modifications, and if your loan is backed by Fannie Mae they are improving the loan modification process. You should be getting help with this instead of doing it on your own.

You could always try to do a short on the 2nd only and threaten bankrupcty, immenant foreclosure, etc... and try to settle? Would that help you make the payments on your house I have no idea but it is possible.

There is a process to short sales, and I am not sure if all the bases have been covered on the loan mod or not. It does not seem you are comfortable with the situation so my guess is no. There is not enough information for me to give a definitive answer.

You can always contact me if you have further questions! I write a lot about loan modifications on my blog so feel free to check it out below..

~Chris
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0 votes 7 answers Share Flag
Thu Sep 30, 2010
personal friend answered:
I feel sorry for him...AndY Geckler's first wife left him once all this hit the fan and his new (2013) wife was cheating on him both before and after they were married. He worked as a manager at Domino's Pizza for Christ's sake.The guy is paying in a very karma sort of way,if not a financial one. ... more
0 votes 14 answers Share Flag
Thu Sep 23, 2010
Keith Manson- Metro Milwaukee Wisconsin answered:
Depending on you state and the laws in your state, the law may allow a redemption period prior to the foreclosure sale or after the foreclosure sale. This is a time period by law that allows you to still payoff your loan prior to the confirmation of the foreclosure sale.

In wisconsin, my state, the redemption period is 6 months prior to the foreclosure sale on a normal residential property. In Minnesota I beleive the redemption is after the foreclosure sale and depends on the amount of land involved with the property.

If you are looking for options, you need to discuss with a local expert.

Keith Manson
First Weber Group
Certified Distressed Property Expert
Mero Milwaukee


http://www.milwaukeebailout.com
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0 votes 8 answers Share Flag
Thu Aug 12, 2010
Etta answered:
I am in the middle of a litigation with my Home builder and realty company. Found alot wrong with the construction on my property with a Forensic investigation. Numerous code violations and poor workmanship and missing HVAC items. My home was to be Energy star compliant. Xcel came into my home and stated that it would of never of passed. Please if you are still in your first year talk this over with a Real Estate lawyer.
He had me hire the Forensic team for expert testimony. The sooner the better. The BBB does nothing to help the home owner but delay you long enough to expire your warranty. The BATC did nothing but stick up for the builder verses the home owner. Need more links contact HADD on line great tips and familiar storys.

Good luck to you.
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0 votes 5 answers Share Flag
Wed Feb 17, 2010
Peter Boyle answered:
You should consult with a CPA for specific clarification, but to my knowledge any Loan Discount points, prepaid interest charges and Mortgage Registration taxes you pay are fully tax deductible. Mortgage insurance premiums are deductible with certain restrictions on income. Fees like the origination fee are not direct write offs but may be amortized over the life of the loan, and then accelerated when the home is sold.

Peter Boyle
612 701 6816
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0 votes 3 answers Share Flag
Thu Dec 17, 2009
rob cross answered:
Hi Bob - thanks for your feedback. I'll talk to our team about how we would add keyword search for the iPhone app in a future release.

Is there anything else you think would make the app more useful?

Thanks,
Rob
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0 votes 2 answers Share Flag
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