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Salem : Real Estate Advice

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  • Local Info0
  • Home Buying3
  • Home Selling0
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Activity 14
Thu Sep 28, 2017
Bkdust28 asked:
Sun Jul 17, 2016
Scott Godzyk answered:
Trulia is not a Real Estate brokerage, they do not advertise, place or edit ads. They are simply a site where agents list homes for sale. List your home with a great local listing agent and have them post an ad here. ... more
0 votes 1 answer Share Flag
Sun Feb 1, 2015
Seaside answered:
This sounds strange, I thought if the home owner vacates the home then it's looked at as abandoning the home and not likely that homeowner can get short sale aproval. In this case I would expect the lender to forclose, home go to auction and possibly become reo. ... more
0 votes 6 answers Share Flag
Tue Jan 20, 2015
Diane Christner answered:
Whether you continue to wait or look elsewhere really depends on how much you like the property and how flexible your current living situation is. Another factor whether to stay with this contract to opt out has to do with the terms of your purchase contract - what time period was specified for seller's lender approval? Are you past that date? If not, you may have to wait it out unless the seller agrees to release you from the contract.

There could be a number of reasons why you have not heard back from the seller's lender. There could be other lien holders that have to approve a sale. There could be other investors that the lender has to get approval from. Or the lender's representative assigned this file could simply be behind due to workload.

How much information has the listing agent provided to your agent regarding the short sale itself? Are you getting regular updates?

Discuss your concerns with your agent, he or she would want to know your concerns and hopefully would be able to help you make the right decision.
... more
0 votes 1 answer Share Flag
Mon Jan 12, 2015
Murphy Team answered:
You should start the process over by contacting a Realtor/Buyer Agent who should be able suggest a few lenders for you. In our experience, a good mortgage banker will be able to get you a Pre-Qualification letter in a day. ... more
0 votes 5 answers Share Flag
Mon Aug 25, 2014 asked:
Tue Jul 9, 2013
Chelsey Hartman answered:
I agree with Dee. If I email a lender and I don't receive a response within a few hours (assuming they aren't on vacation and it's not a weekend, of course), they're out and I'm back to looking for another lender. I think promptness is worth paying a little extra for (as well as friendliness and helpfulness). ... more
0 votes 3 answers Share Flag
Mon Jun 10, 2013
Hi Grace,

Thank you for your service.

Your score is good enough to get your foot in the door so to speak. The rest of the process will depend on your actual credit history, debt to income ratios, disposable income ( only an issue on VA loans) & the competency of your loan officer/lender.

The real question I have from your post is about your income. Your GI Bill can not be counted as income for qualifying so you would need to have another acceptable source like VA or SS disability, a job or retirement/pension.

Check out my recommendations here on Trulia:

Please feel free to contact me for more information or help.

John Burke
Senior Mortgage Banker
Peoples Bank & Trust Co.
... more
1 vote 4 answers Share Flag
Thu Oct 25, 2012
Katherine Oesch answered:
I highly reccommend Eric Blackburn of Impact Home Renovations 330.853.1976
0 votes 4 answers Share Flag
Sat May 21, 2011
Lucyloo answered:
UPDATE: We stood our ground and the homeowners accepted our terms! Thank you all for your advice. I'm glad it paid off to wait.
0 votes 9 answers Share Flag
Wed Apr 20, 2011
William Dawes answered:
As suggested - always tell the truth! Accompany that answer with something you feel that the person will appreciate. Everyone has one thing that's the most important to them. After answering offer to provide them with testimonials from prior clients, details of all the transactions, and all the details of your support network behind you in the office. As indicated in a lot of these answers, the hot & new technology offered by the internet and iPhone's etc really comes in handy when trying to give someone the 'wow' factor! Best of luck, it's a great industry and it's equally as rewarding to help people! ... more
0 votes 12 answers Share Flag
Wed Apr 20, 2011
William Dawes answered:
I know quite a few people who have found success advertising in the Harmon Homes Magazine - and there are other markets (like Salem for instance) who have their own version of the magazine that's included in the Newspaper.

There's also the "Here's my Card" section in most papers and Mr. Thrifty's.

Join the Chamber of Commerce and go to the meetings. Join BNI or another networking group, same thing attend the meetings.

Be out IN the community :)

And, of course, partner up with a good Title Company and a good Lender - AND don't forget about your local business. Offer to share their cards and their business with your friends if they do the same. Everyone knows someone looking for a home!!
... more
0 votes 13 answers Share Flag
Fri Feb 12, 2010
Annette Lawrence answered:
Norma, the 20/80 principle is well established when discussing sales dynamics. However, there may be other dynamics at work within a real estate business that really should be considered.

The PERCENTAGE of agents within a brokerage who create business and wealth for themselves has more to do with the business structure of the brokerage than anything else. The business structure of the brokerage that allows fees to be paid from each transaction will have closer to a 5/95 ratio. A local brokerage here in FL actually has less the .1 percent (point one percent) of agents who have completed more that 5 transaction in the past 12 months. This broker has over 1,000 agents. Business models requiring higher desk fees and better splits foster a self selection culture with higher productivity ratios.

To see clearly, you need a look at the stats for these brokers. How many agents? How many (%) agents have an acceptable GCI? How many (%) have sufficient transactions to sustain a real business? (assuming you have goals that have some real income objectives) If the brokerage has only 5 of their 100 agents meeting your income goals, that should be a reason to ask more questions.

The broker has the real numbers...ask to see them. These numbers will reveal if it's a nurturing environment that inspires success or a Darwinistic , survival of the fittest, environment. Neither environment is wrong, but you may find it helpful to know which one you are entering.

This is not an easy business. This is an exciting, changing business. Welcome aboard!
... more
1 vote 8 answers Share Flag
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