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Home Buying in Salem : Real Estate Advice

  • All82
  • Local Info9
  • Home Buying16
  • Home Selling3
  • Market Conditions4

Activity 24
Thu May 18, 2017
Carolynf649 answered:
our house is very old I guest about early 1900 it has cedar and burch wood inside in out. the house has these white shingles siding and we had vinyl siding put over it , you can't put a nail through white shingles siding without breaking it into pieces. ... more
0 votes 28 answers Share Flag
Mon Jan 23, 2017
Jennifer Winn answered:
I know this is an old thread, but I've been working as a buyer's agent for Redfin for about a year now, and I want to weigh in.

As an employee, I can tell you I have been looking for the "catch" since I found them and it hasn't appeared yet. This is the best company I've ever worked with - real estate or otherwise - in my 20+ year work history. They treat their customers and their employees with respect and as a result we all work extra hard to keep the ship sailing.

The money back at closing is really icing on the cake. Redfin agents are employees rather than independent contractors, so we are paid a salary with benefits and we receive a bonus at closing that is scaled depending on the rating our customer gives us. Customer service is what we are about. We are highly incentivized to give you level 10 Customer service. Anything less hurts a bit.

We typically only have one physical office for a region/state, so don't be fooled by the address on our business cards. Agents work remotely (no desk fees other realtors out there) and while we cover a broad territory, we try to match the agent to the area so that you are working with a local agent.

We also have associate agents who are independent contractors, and they are held to the same customer service standards. Those agents do nothing but show houses and they get paid per event (not commission). They are there so that you can see homes on your schedule. If you want to see 6 homes on a Saturday morning and your primary Redfin agent is booked already, they book you with one of the associates on that agent's team who then reports back to your agent. Your agent follows up and gets any necessary information you might request to make an offer.

We are able to do all of this due to the efficiency of our model and the amazing software we have backing us up. Because of the team methodology, we are able to service more customers, at a higher level. (Company model depends on volume). We don't have to prospect for clients, because they all come through the website. As a realtor, I cannot express how much I love this fact. None of us want to solicit you for business. We would much rather you come to us when you are ready. This makes that possible.

So, I would encourage you to check out the website in detail. There is a lot of information in the pulldowns beyond the home search capabilities. We don't require buyer agency agreements until you are putting an offer on a house and it is specific to the home. We wont ever pressure you to make an offer you are not ready to make. I would encourage anyone considering them to try the on for size.
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0 votes 13 answers Share Flag
Wed Aug 26, 2015
Faith asked:
Wed Apr 8, 2015
Caleb Hart answered:
Any item is only worth what a buyer is willing to pay for it. We don't know very much about the buyers in your area and what they are looking for when it comes to siding. I would talk to some real estate agents and ask what they have seen buyers become attracted to. Then you will have your answer. ... more
0 votes 7 answers Share Flag
Thu Nov 13, 2014
Ruth and Perry Mistry answered:
Hi Dakittylvr

Great question and sorry to hear of your problems.

Clearly, you are claiming mis representation, who represented you an Attorney or
an Agent.

Did you buy or make an offer with the listing agent ?

Did you sign documents, what did the documents say ?

Its not clear.

Start with the Mount Juliet, TN, housing authority and local Real Estate board,

after that engage a lawyer and get it done correctly.

Good luck
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0 votes 5 answers Share Flag
Thu Nov 13, 2014
Connie Mitchell answered:
Locate the local board of realtors in the area as well as the state board where they are licensed. Call and mail in written complaint. This is unacceptable and this broker should be held accountable for his/her actions! ... more
0 votes 2 answers Share Flag
Fri May 9, 2014
Dan Tabit answered:
As a buyer, you won't have much luck unless the seller is willing. If they are, it's up to them to contact the bank, an agent and get the property listed. You can't skip this step or the bank will consider you a "non arms length buyer".
If the home is listed on the local MLS for a reasonable price, based on the comparables in the area, you can offer what you want to and if your offer is accepted buy the seller it will be negotiated with the bank for approval The bank has no obligation to accept your offer. They can foreclose, counter for a higher price or accept another offer. The process will take 3 to 9 months on average with some exceptions at both ends.
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0 votes 3 answers Share Flag
Mon Feb 24, 2014
Dan Tabit answered:
A quick Google search reveals that a number was dropped when it got input into Trulia. $314,900 is the price according to more than one other site where the home is listed.
0 votes 3 answers Share Flag
Thu Aug 29, 2013
Louis Wolfson answered:
I believe this site may answer any of your questions

Good luck.
0 votes 3 answers Share Flag
Thu Apr 25, 2013
Jim Armstrong answered:
First the disclaimer: This is not tax advice, but just my personal knowledge that I am giving. Please consult your tax adviser for more information.

Not that the legal stuff is out of the way - A person is exempt from paying capital gain taxes on the first $250,000 ($500,000 for a couple filing jointly) gain (or profit) made on a property that was their primary residence (you must have lived in it) for at least 2 of the last 5 years. You cannot have taken the exemption in the previous 2 years on any other property.

That is the simple answer. There are more qualifications, but talk with a tax adviser or accountant, or visit the web address below.

Jim Armstrong
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0 votes 2 answers Share Flag
Sat Feb 18, 2012
Terryanne St Pierre answered:
A condominium is part of an association of condominiums but you own the particular unit , space you are in. A townhome is generally an attached two or more story condominium, it indicates there is more than one level within the unit and they often, but not always, have a private entry. Single family is most often a free standing home that contains only one residential unit. A multi- family is any dwelling which contains two or more residential units. ... more
0 votes 6 answers Share Flag
Thu Feb 9, 2012
Heath Coker answered:
Wow. If everything in the property had to be in working order, many of the foreclosures would not be able to be sold. However, the things that are know to be in disrepair are supposed to be described as such when you are looking at the property in person. The listings online are only data descriptions for the most part. The feet in the door lookers, or those who speak with a real estate professional, will usually get more information than Internet sites often provide.

(Please note: when you choose an answer as a Best Answer, or at least give a thumbs up, it helps those who answer questions here.)
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0 votes 14 answers Share Flag
Mon Jan 23, 2012
Christine Moran Realtor & Notary answered:
You have would to call the schhol district. I have heard of drug free and gun free.
0 votes 1 answer Share Flag
Thu Oct 13, 2011
Kathy answered:
We love the history/historic feel of Salem. Also, being by the water and the great downtown is a feature we are looking for. Shops, restaurants,.....Although, we would forego the proximity to the water for a family friendly downtown. Additionally, we need great schools and a safe/family friendly community because of our young family-9 and 7 yrs old.

Finally, like most homeseekers, we are looking to get the most for our dollar when it comes to the price of a home. I've searched the Canton area and have found that we will be paying more than twice the amount for a home comparible to our present home! We have a 6 year old custom built 2800 square foot 4bdrm, 2.5 bath home on a 1 acre wooded lot worth $325K. A comparible home in the Canton area is at least $700K!!! Much to my shock and dismay!!!

I could really use some suggestions/advice......
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0 votes 2 answers Share Flag
Thu Mar 24, 2011
Barry Little answered:

We can help you with the purchase and close on your home for May
With a minimum middle credit score of 620 for all borrowers involved with FHA financing.

I live and work locally in Massachusetts, You can reach me direct at 508-733-4858
Thank you
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0 votes 3 answers Share Flag
Wed Mar 9, 2011
Loraine Arrigo answered:
It's not a problem, but it is something to explore. If your talking about Salem MA, as a local agent I can tell you that our Tax Assessments frequently have no relationship to the Listing or Sold prices in town due to the records inaccuracies. Further, most available Salem tax records are based on 2008 in that assessments have not been been updated in MLS or the public records. The field card at the Tax Assesors Office would be accurate for the current year's assessment (which reflects the market from 2009).

That being said, I will also tell you that the average Listing price in Salem is $350,000 while the average Sold price is $315,000. But, prices have increased 5-7% in the past year. Remember a house must appraise out in order to obtain a mortgage on that property and today's appraisals are very strictly regulated.

Finally, has the property had recent updates, is it waterfront or waterview, is it in one of Salem's Historic Districts? These are all questions that you must know the answers to in order to value the property. Due diligence on your own or with the assistance of an experienced realtor is the best answer.
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0 votes 9 answers Share Flag
Sun Oct 3, 2010
Lori Lincoln answered:
I am not a mortgage broker or bank, but believe that with enough equity, they are still available. I will check and ask around tomorrow and get back with tomorrow evening.
0 votes 1 answer Share Flag
Wed Feb 17, 2010
Georgina Villa O'Bryan answered:
In writing is best, signed by the Seller, however, if the agent is credible and sent it to you via text, just make sure you keep that e-mail/text. If all else fails and Seller's refuse later, it can come out of the Agent's commission. An email is usually considered binding.

Also make sure it's clear as to what they have agreed to.
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0 votes 7 answers Share Flag
Wed Feb 3, 2010
Bob Meehan answered:
Hi Hans,

This property has not been placed into inventory yet, if you would like to be notified when it comes on the market please reply to me with your email address and I will set you up to be notified the day it comes on the market.


Bob Meehan
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