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Home Buying in Roseburg : Real Estate Advice

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  • Local Info4
  • Home Buying31
  • Home Selling9
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Activity 31
Mon Aug 10, 2009
Bill Eckler answered:
Apache,

Linda is on the mark........there is very little difference between purchasing a home through regular means and a foreclosure with the main differences being you are working with the bank as the owner and being required to use their approved forms.

Good luck
... more
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Thu Aug 6, 2009
Kevin answered:
yes but for FHA loans only, but the necessary required 3.5% down have to be arranged by your own funds.... this $8,000 cannot be used as 3.5% required down payment for FHA loan.
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Thu Aug 6, 2009
Linda Klein answered:
I'm no Attorney or a Mortgage Lender but, I believe if you get a conventional loan the assessed value of the home or property has no bearing on how much the lender is willing to lend. The lender will call for an appraisal and that will determine the amount the lender will finance and the amount, if any is necessary, which you would ask the owner to carry. ... more
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Sat Jul 11, 2009
Cerise Stephens answered:
You can NOT have owned a house in the past THREE years....primary residence or not...You cannot at this time use the $8,000. for a down payment. This is a tax CREDIT, if you owe any taxes the $8,000. will work against the tax first then the rest will go to the buyer. Go to www.irs.gov for all the details
Cerise Stephens
Broker/ Licensed Tax Preparer
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Sun Apr 5, 2009
Dirk Knudsen answered:
Yes Justin... Your pal is incorrect. Foreclosures while a good value generally sell at close to full market value. There are steep discounts on some property at the court house steps but that requires all cash and a real knowledge of the market as you may be buying it sight unseen and without knowing what is inside of there.

Banks have a duty to get the loan value back. That is not always happening right now and so we are selling a lot of homes short. The basis on this stuff is where would you want to invest? What great values are out there? What can you do to manage the homes once you find them?

I would say that there are a few homes for $10K I have seen but they are in Detroit and markets like that and are complete rehabs. Your friend is advising you incorrectly. Having said all that there are great values out there in this market and you can find them and make money in this market. This is something however you should be actively involved with and not just leave up to chance or in the hands of others while you are away.

Hey Justin thanks for serving our Country. We support you all the way so stay safe and God Bless!

Sincerely;

Dirk Knudsen
Re/max Hall of Fame
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Wed Mar 25, 2009
The G Team answered:
We are always looking for fun clients! If we can't have fun in the process, than why do it at all? I work with my Husband Rick, and we can help! We are the Douglas County team that understands relationships, and gets results! Call us at (541) 580-1399. Once we are clear on exactly what you are after, we can help make it happen. Please visit our web site and click on the green video icon so we can introduce ourselves!

Best Wishes,
Joanne Graham
www.realtorjoannegraham.com
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Tue Mar 17, 2009
Corri Klebaum answered:
Must get more information to accurately answer this for you... Bankruptcy, Judgement, Slow pays? Too many factors, too many different loan programs to steer you in the right direction. I am a Mortgage Consultant here in Oregon feel free to drop me a line with more info as it hard to air everything here I imagine :) ... more
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Fri Sep 5, 2008
Greg answered:
i am an contractor who does remodeling in homes/mobile homes.if interested call 414-763-4268 ask for greg.thanks.
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