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Stimulus All Locations : Nationwide Real Estate Advice

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  • Home Buying266K
  • Home Selling46K
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Mon Aug 15, 2011
David Chiles answered:
Thank you for your question about why houses are still over valued. If the banks sell the houses for what they are worth they will lose too much money and the economy will collapse. The government loaned businesses the money to stay afloat artificially creating a market price. Prices will continue to fall until the market reaches reality.

The real value in today's market is how a home was built, whether or not it's green, and how close it is to work. These factors are not necessarily monetary.

David Chiles
Meridian Capital
800 729-5111
david.chiles@mymercap.com
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0 votes 1 answer Share Flag
Tue May 24, 2011
Laura Scaccia answered:
Hi, Jenn,

There are programs still available - I worked with buyers who got a $4000 grant from the state -- so please call me so we can discuss. I look forward to helping you with your search!

Thank you,
Laura Scaccia
Better Homes & Gardens - The Masiello Group
603-957-0609
laurascaccia@masiello.com
... more
0 votes 4 answers Share Flag
Thu Apr 7, 2011
Poonam Singh answered:
Hi this is poonam I am a realtor ....one of the most common reason for lack of showing is.... How does your house look in the pictures ...before reducing the price try staging the house ... The first impression of pictures makes an great impact on the minds of the buyers... If u need any help contact me on psshomes@gmail.com. ... more
0 votes 27 answers Share Flag
Sat Mar 26, 2011
Kevin Olson, Jessica Laude answered:
Myrn,

Are you working with an agent, specifically an REO buyer agent? I'm not suggesting anyone in particular, just someone who writes offers on REOs day-to-day. The terms of your offers are just as important as the price, and an agent with experience in these will make a difference. Many of the REO listing agents are used to working with these people, and can give an asset manager an extra vote of confidence in the offer when it is submitted. I know many agents disagree with me on this, but if you are interested just do a google search on it. Investors use these agents for a reason. Good luck and hope the next one works out for you! ... more
0 votes 19 answers Share Flag
Sun Feb 28, 2016
Phil Rotondo answered:
Good Morning Lee;
If you lower your expectations you will live longer and happier.
0 votes 2,120 answers Share Flag
Sun Sep 4, 2011
John Walin answered:
Housing has been one of the key focus areas for Obama during his first year in office – he tried to keep homeowners in their homes with the Mortgage Relief plan and tried to spur sales with the First Time Homebuyer Tax Credit, among other things. How would you grade his performance on housing and what do you think needs to be done in 2011?

If this question looks familiar, its basically a rewrite of Pete Flynn's one year old question with 6700 replies...
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0 votes 23 answers Share Flag
Thu Jul 23, 2015
Richard Malsed answered:
If you are going to be living in the area as you search for your new home, you will most likely need to rent a place for at least a few months. Even if you already have a loan pre-approval, your down payment saved up and are able to find your dream home on the first day you go out looking at homes, and manage to get seller acceptance right away, you would still be looking at an escrow of about 45 days. A more likely scenario would be that it may take a couple of weeks to find the right home and get an offer accepted. If it is a short sale that you put an offer in on, it could and probably will, take months before you get the keys. I don't mean to sound all doom and gloom, I am just trying to prepare you for what is the more likely timeline. ... more
0 votes 15 answers Share Flag
Tue Mar 15, 2011
Lee Goade answered:
Here's a Live Link:
http://finance.yahoo.com/taxes/article/111792/tax-changes-for-2011-a-checklist?mod=taxes-advice_strategy
0 votes 3 answers Share Flag
Tue Jan 4, 2011
Marge Bennett answered:
they are based on what it costs to run the association, pay for the amenities, reserves, etc. currently, smart HOAs also budget for the folks who are not paying.
0 votes 10 answers Share Flag
Wed Dec 22, 2010
thomas mazzone answered:
Wed Dec 22, 2010
Bill Eckler answered:
Chris,

Thank you for your question.....

Realty Trac information can be a bit confusing and many people find their information misleading...so you are not alone-regardless of your level of experience. Our advice is to seek a local real estate professional for their support. They will be able to provide you with the information you require and guide you through the buying process.

Determining the successful purchase price of a foreclosure can depend on a number of factors including-condition of the property, the amount owed to the bank, length of time on the market, the banks level of motivation, amount of interest in the property, etc. There is no magic formula.....but an agent familiar with your location should be able to help you.

We recently closed on a transaction in which the bank foreclosed on an amount of $75,000 owed to them and put an asking price on the property of $175,000. The message here is that it's important to do research and be familiar with the area's recent market activity of similar property.

Good luck,

Bill
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0 votes 8 answers Share Flag
Wed Dec 22, 2010
Mack McCoy answered:
There you go. It's really as simple as that.

Here in the Seattle area, the typical residential real estate transaction generates about 9% of the sales price in commissions, closing costs, professional services, transfer taxes - money that immediately starts to cycle through the economy. Not to mention any work orders or updates taken by the new owners.

However. The amount of mortgage loan that's subject to interest deduction is currently capped, and that cap could be modified or staggered with little or no effect - does somebody not borrow $750,000 for a nice home because the interest over $500,000 is not deductible?

We are facing serious revenue shortages, and we need to figure out ways of raising revenue, locally and nationally - not figure out ways to reduce revenue!
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0 votes 19 answers Share Flag
Thu Jan 27, 2011
lol answered:
Different areas will start to recover slower than others.
It looks like Hampton Roads in Virginia is already recovering.
0 votes 21 answers Share Flag
Wed Jun 5, 2013
Dave Griswold/ Lisa Payne-Griswold answered:
Hi Angleeyes,
you can sell your home whenever you want to. Different taxes may apply when selling right away, however if your going to make a profit and want to sell go ahead. If you want to sell soon after you purchase for whatever reason check with your taxman to see if you'll have additional taxes for selling.

All the Best
Dave & Lisa
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0 votes 14 answers Share Flag
Sat Dec 11, 2010
Suzanne MacDowell answered:
Rising interest rates always put downward pressure on home prices. The bottom line is this, a buyer has X dollars per month to pay for housing. It either goes toward the price of the home, property taxes, or interest. However, I think homeowners have just about reached the limit of how low they will price their homes. Many are staying put rather than take such a big loss, many are becoming landlords to cover current expenses so they can move up. I am also finding fewer and fewer buyers willing to look at short sales and foreclosures. The property condition, the risks and the questions about chain of title due to robo-signing are just making it too risky. if interest rates rise, buyers could be faced with purchasing 'less house', smaller, fewer amenities, worse condition, etc, because money that would otherwise to into the price of the home itself will instead go to the bank. If your buyers want the most house for their money the time to buy is NOW! ... more
0 votes 8 answers Share Flag
Wed Dec 15, 2010
Gary Branscombe answered:
I believe they should. There was a really big hick in the sales of home when they did have that credit.
The housing is a huge economic indicator. People are still wary of the economy and jobs but a little incentive from the government seems to help the buyers. It was stimulate the economy and maybe get things back on track. ... more
0 votes 6 answers Share Flag
Sun Nov 21, 2010
Dan Tabit answered:
Frustrated,
First, you have every right to be frustrated. You've had a lot of difficult circumstances to get through. Your question is complicated and any advice given here needs to be run past your listing agent and an attorney before you act.
Hopefully you have something from BOA telling you "not to make any payments." Getting a modification has been difficult and many have tried and failed. Ultimately you will need to collect all the information you have been sent by the lender and a good written explanation of all you have been through and sit down with an attorney who is familiar with the current events happening in Real Estate.
You have several options, short sale, foreclosure, Chapter 13 BK just to name a few. Only an attorney will be able to sort through all that's gone on and properly advise you. If you need a referral, let me know. I hope things go better for you from here on out.
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0 votes 10 answers Share Flag
Wed Nov 24, 2010
Helen Sherman answered:
This area is always in high demand as it is near the train and the schools are well regarded too. Prices are fairly stable now in this price range and rates are extremely favorable.
I can send listings and suggestions on price with analysis/recent sales for each. Please call me at 609-915-1216 or email me at helensherman@gmail.com so we can connect.
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0 votes 5 answers Share Flag
Sat Apr 14, 2012
Jeanne Feenick answered:
I've also heard chatter than the government may push them even lower as an added stimulus - oh goodie, more stimulus (not a big fan though it may spur business). My outlook is that rates will remain favorable and I advice clients to get their financial house in order and act when they are in the position to do so and find the home that suits them. And if the Marketwatch prediction is true, then the impact of the higher rates and the lower prices will likely equal themselves out, or darn close to it.

Best,
Jeanne Feenick
Unwavering Commitment to Service
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0 votes 7 answers Share Flag
Mon Apr 25, 2011
Scott Butcher answered:
Archie16.

The earliest I have seen a buyer be able to qualify for FHA financing after emerging from a Bankruptcy is 2 years and for a foreclosure, 3 years.

You might look to private lenders (non-conforming), but you'll pay a a much higher interest rate until your able to refinance.

Hope this helps.
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0 votes 14 answers Share Flag
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