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Home Buying in Sand City : Real Estate Advice

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Activity 2
Pat & Steve…, Real Estate Pro in Westlake, OH
Sat Jun 5, 2010
Pat & Steve Pribisko answered:
You need to speak further with your agent about what he/she is doing to obtain the disclosures and why he/she has not been successful. Has he/she contacted the listing agents' broker? Rather than ask those of us on Trulia.com, who don't know the circumstances of your purchase transaction, ask your agent. And, if he/ she can't explain it, call your agents' broker. ... more
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Empower Group, Both Buyer and Seller in Monterey, CA
Fri Jun 19, 2009
Empower Group answered:
I completely agree with Kerry Harvell on this one, as we are starting to see many of the current REO and Short Sale type properties on the market take "stronger" offers that are cash or conventional financing with more than average down. There are however some banks that will consider doing FHA financing for Seaside homes. My suggestion to you is this: unless you are anxious and in a hurry to make your purchase, I would wait for a few more months as a new wave of homes hit the market and average prices are lowered because of it, as you will be in a stronger position to acquire a home even with FHA. I expect the buyer pool will thin out significantly because of the impending failure of many commercial and industrial sectors which will hopefully create less competition for you entering the housing market. Residential prices will continue to drop as more foreclosures hit the market which now include many "prime" people who loss their homes due to rising unemployment rates, rise of inflation and or expected deflation, higher tax rates, etc. So the bottom line is that you can wait a while longer and get more house at an affordable price in 6 months or so. Best of luck to you! ... more
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