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Home Buying in Smithfield : Real Estate Advice

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Activity 21
Fri Jul 4, 2014
Murphy Team answered:
You will have to change the information on the source from which Trulia gets your listing. Have your Realtor change the information on the MLS listing sheet and Trulia will pick up the change automatically. ... more
0 votes 1 answer Share Flag
Thu Oct 17, 2013
Ryan Rossi answered:
Hi Juan, thank you for your question here. If it's in regards to this property on 3 Friendship Lane in Smithfield, I am the listing agent. The reason the Value/list price ratio seems so off is that it was a distressed property when purchased by the Seller. People who buy in that particular area, stay for a very long time. The seller has taken this home and renovated this property from top to bottom and added other amenities such as CA/CV, hardwoods, and a state of the art heating system to name a few. If you look in the lime Rock area where this home is being sold you'll notice that there are homes that have sold well above this asking price in the upper $400's and low $500's. The town has also not updated the assessed value. So, if you saw the home, the sq ft, and the lot/neighborhood you would see it was not easy to comp it out, I had to use the cost to build and finishes per sq ft adding and subtracting for things with those other solds to come to a Sales price. Unfortunate for the Seller, there are no comparable comps available, and too often agents weigh everything on that and that alone. So, we shall see what happens, he is ready to reduce the price but not because the value isn't there, it's just one of those properties that stands alone. ... more
0 votes 4 answers Share Flag
Thu Oct 17, 2013
Ryan Rossi answered:
Hello, I am sure you've been offered much advise. I would refer you to a lender her name is Anna Akaian, from Best Mortagage New England in Cranston she where they are located. She can pre-approve you. You can get up to 3 that does not affect your credit rating. Contact for Anna is:
Akaian@bestmortgagene.com If you get pre-approved, then we can meet to discuss what your looking for, where your looking for it, and what your payment comfort zone is. I am an ABR that works with Buyers, and I am also a listing agent so if you need a free CMA on your condo I can help you with that too.

Thank you,

Shelly D'Amico, ABR e-Pro
Member of the National Association of Realtors
401-486-0157 Call/Text
shellydamico01@gmail.com
... more
0 votes 7 answers Share Flag
Sat May 5, 2012
Irina Karan answered:
Hello Helene,

You can call a gas company to check on this.
However, when changing oil to gas, be very careful re. environmental hazards that come with oil tanks being removed...You got to have a very good company to do this for you.

Service Magic referral service worked great for me and my clients - highly recommend it.

Hope this helps,

Irina Karan
Beachfront Realty, Inc.
IrinaKaran@gmail.com
... more
0 votes 3 answers Share Flag
Sat May 5, 2012
Irina Karan answered:
Hello Helene,

You got to call in a local electrician for this - you can ask your agent, your friends/family, or Service Magic referral service for a reputable electrician.

Best to get 3 quotes to see which will be less costly.

Hope this helps,

Irina Karan
Beachfront Realty, Inc.
IrinaKaran@gmail.com
... more
0 votes 2 answers Share Flag
Sat May 5, 2012
Irina Karan answered:
Hello Helene,

Per diem income is sort of like self-employment income when it comes to calculating the monthly income, used to figure out your debt to income ratio.

This means the income will be averaged for the past two years (if 2011 income is bigger or same as 2010). The Income Verification form will be sent to your employer - to see that 2012 YTD is within the average income for 2010-2011.

Hope this helps,

Irina Karan
Beachfront Realty, Inc.
IrinaKaran@gmail.com
... more
0 votes 1 answer Share Flag
Fri Jan 20, 2012
Scott Burch answered:
I'm a Rhode Island Realtor and would like to help you every step of the way. Please contact me at 401-722-HOME (4663) or at

www.buyahomeinRI.com

I would like to sit with you and go over all your options ... more
1 vote 4 answers Share Flag
Fri Jan 20, 2012
My NC Homes Team answered:
You misunderstand how lenders work. The more foreclosures there are the less likely they will be to offer anyone 100% financing, why do you think there are as many foreclosures as there are.

Any traditional bank is not going to offer 100% financing. There may be some local credit unions who may as they tend to hold their loans in house and do not have to worry about the loan meeting FHA standards.

I would stronly advise you to save up some money and not look to buy a home with 100% financing even if you can find someone who offers it. Finally foreclosures are rarely the deal most buyers think they are. I encourage you to read a recent blog I posted here on Trulia about Foreclosure sales.
... more
0 votes 4 answers Share Flag
Fri Sep 30, 2011
Robert Crudale answered:
RI Housing is your best bet for the silent second. It is a great way for first time home buyers to take advantage of some extra money. There are also some great "Stepped Rate" programs through RI housing. These allow you to take advantage of a low rate that gradually will go up over a period of time. RI Housing's interest rates are not based on the 10 year bond like most other banks and mtg companies. In the past, that meant you could get a lower rate through RI housing opposed to the competition. Recently, however, rates have sunk to record lows resulting in interest rates being lower through your bank or mtg company as opposed to RI Housing. If you need more information please let me know!! ... more
0 votes 2 answers Share Flag
Tue May 19, 2009
Sandra Brown answered:
Hi Helene,
Just because the property has a gas stove it doesn't mean that gas is available in that area. I have a gas stove, (I would rather cook with gas) I use propane tanks for it because gas is not available in my area. I have oil heat. I agree with the advice from the first answer, call the gas company, give them the property address and see if gas is even connected in that area. If it is connected then yes, you can convert to gas. Keep in the mind the whole heating system might have to be converted, and that can be costly ... more
0 votes 3 answers Share Flag
Fri Apr 24, 2009
Christopher Cox answered:
Hi Helene,

I am not trying to be rude here, and please don't take it that way. But that really is a question that can only be answered by a mortgage broker who actually takes a credit application and looks at all of the information including credit, debt/income ratio, assets, etc. And not just a pre-qualification, you will need to have a full pre-approval done. I can refer you to a couple of morgage brokers in the area if you are in need. Good luck.

Happy Hunting,
... more
0 votes 1 answer Share Flag
Sun Apr 19, 2009
Christopher Cox answered:
Hello Again Helen,

I am a little confused. The vantage score should be higher? It is on a scale with a max score of 990 instead of a top score of 850 for FICO? It utilizes a completely different set of criteria, so maybe that explains it.

The exact details of the formulas are as top secret as the KFC's Orginal Recipe, but here is an overview.

Vantage score
Payment history 32%
Utilization 23%
Balances 15%
Depth of credit 13%
Recent credit 10%
Available credit 7%
Total 100%


FICO score
Payment history 35%
Length of credit history 15%
Amounts owed 30%
Types of credit uses 10%
New credit 10%

Total 100%

Happy Hunting,
Chris
... more
0 votes 1 answer Share Flag
Sun Apr 19, 2009
Helene Moretti asked:
Sat Apr 18, 2009
Joseph Del Sesto, GRI, SRS answered:
Try triplecreditscore.com. Feel free to call me if you need any help getting your score.

Regards,

Joseph Del Sesto
Associate Broker
Albert Realtors
1050 Reservoir Avenue
Cranston, RI 02910
401-944-3377 offfice
401-944-3448 fax
942-2348 cell
... more
0 votes 1 answer Share Flag
Thu Mar 19, 2009
Karen Hurst answered:
Helene, This is all ongoing talks. There are two proposals to extend to the north of the airport and one to the south. Nothing has been decided that I know of...There is an article about it in the Warwick Beacon which you can access www.warwickonline.com.
The Greeley Ave side is not in the NSP program,as shown on the map... http://www.rhodeislandhousing.org/filelibrary/Warwick_Web.pdf
And yes, there are foreclosures in that area, but I guess not enough to warrant stabilization as most of the homes are still well maintained. (of course that is just a guess:)
... more
0 votes 2 answers Share Flag
Thu Mar 19, 2009
Alayna Berek answered:
The areas are made up of census tracts. There is a map that shows what streets are included. Your buyer's agent can help you with this as well as your lender. If you are thinking of using NSP, you should start with that. ... more
0 votes 2 answers Share Flag
Sun Mar 15, 2009
Brenda Fernandes answered:
Hi Helene,
Sandra is accurate regarding the listing at 134 Greeley.
Regarding your earlier question of 100% financing in Warwick... you need to discuss with your lender the specific loan product that you have been approved for. Also, FHA requires a 3.5% deposit, some instances some of this can be included in the loan amount, if the seller allows the concession.
You should "shop" around for a good buyer's agent you can rely on and help you have as much info as possible regarding your situation.
If I can be of any assisance, please feel free to contact me at anytime.
Brenda
... more
0 votes 2 answers Share Flag
Sun Mar 15, 2009
Christopher Cox answered:
Hi Helene,

I would highly recommend getting in touch with a mortgage broker to get more detailed information, but I will offer up some basic information regarding ratios.

There are 2 different ratios that are looked at when determining how much of a house you can afford. The front end ratio which includes your principal,interest,taxes, and insurance(known as PITI) really shouldn't exceed 28% of your gross monthly income. Although in recent years many people have exceeded this, hence the dilemma we find ourselves in. The second ratio that is important is known as the back-end ratio, this includes all of your monthly debt obligations including PITI,credit cards, student loans, alimony...etc.. This ratio should not exceed 36% of your gross monthly income.

I hope that helps a little.

Happy Hunting,
Chris
... more
0 votes 1 answer Share Flag
Sun Mar 8, 2009
Alayna Berek answered:
As I said before, hire yourself a buyer's agent(which costs you nothing), they will refer you to a reputable mortgage broker. All your questions can be answered free of charge.
0 votes 2 answers Share Flag
Sat Mar 7, 2009
Luke Allison answered:
Helene-

Let me just say that I wish that every customer came to me with a 674 score and a 5 year-old car repo. You should be okay to get approved. If you have any questions about the qualifying process, you are welcome to contact me.

Luke Allison
Flagstar Bank
828-777-8828
Luke.Allison@flagstar.com

Apply Online: flagstarloans.com/lallison
... more
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