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01801 : Real Estate Advice

  • All25
  • Local Info1
  • Home Buying11
  • Home Selling2
  • Market Conditions3

Activity 26
Wed Jun 6, 2012
Wen Farina answered:
You can schedule a private showing and go in and see for yourself. This house was completely renovated but it is always a good idea to see it in person not solely pics. Wayne ... more
0 votes 1 answer Share Flag
Tue Mar 26, 2013
Greer Swiston answered:
Often 30% down, some times you can find lenders that would let you put 20% or 25% down.
0 votes 6 answers Share Flag
Sun Jun 3, 2012
GB Short Sales answered:
The second lien holder will request anywhere from 6-10% of the principal loan balance as a payoff depending upon whom the underlying investor is on the loan. If you are pursuing a HAFA short sale, the 2nd lien holder can receive up to $6,000 as a total payoff. As long as you are accounting for the seller paid closing costs, real estate commissions, deed stamps, seller rep fees, tax adjustment, etc, you should be in good shape.

Andrew N. Coppo
Greater Boston Short Sales, LLC
Tel (617) 264-0376
... more
0 votes 3 answers Share Flag
Mon Jul 9, 2012
Daniel Sutton answered:
Usually its just about 1 to 2 months. Checking your credit often does effect your credit but it will not do too much damage unless you really take it to an extreme.
Good Luck.
0 votes 13 answers Share Flag
Wed Jun 26, 2013
Steve Boucher answered:
Yes absolutely! Its one of the busiest times in mortgage history. Currently we still have 30 days on purchases as we priortize those. One of the challenges though is getting the appraisal back. The appraisers are incredibly busy and their turn times have increased. I would speak to the lender on their times and also make the commitment date as far out as posible. ... more
0 votes 15 answers Share Flag
Wed Jan 9, 2013
Janine Elkhoury answered:
Hi Michelle

The deleaded is usually the issue.. They are rare.
0 votes 1 answer Share Flag
Thu Sep 29, 2011
Jeffrey Carter answered:
Hello Sherbs,

There is a program called 203k (rehab loan) This will solve your problem. There may also be some conventional loans that might work. Please contact me for a few mortgage referrals.

Jeffrey Carter, ABR
978 717 9015
... more
0 votes 7 answers Share Flag
Thu Jun 12, 2014
Tom and Joanne Team answered:
Mathew J:

Great question and it truly depends. I am selling a home at 1 Marion St in Woburn and my clients are looking to buy in the $500K range in the towns you mentioned. It will depend whether you are already rooted in one of these towns and whether you want to change schools?

Of the three Wakefield is the most expensive and if you want new then Wilmington would be my first choice. in Woburn if your shooting for 10-15 years old the home in that price point is going to be in a suspect location such as a busy road or near power lines.

You can visit my website and if you want to chat further then please reach out to me. Best
... more
0 votes 7 answers Share Flag
Sun Jul 18, 2010
J.M.Jones - 978-335-9092 - Homes & Rentals answered:
Have you tried further east like Gloucester, Manchester, Rockport - many option there.
I would be glad to help you in any area but I am very familiar with these communities if you interested in working with me.

I am available at all hours - just Call, EMail or Text and I will be happy to send you the lastest properties directly to you and we can see them at a moments notice.

Be safe - J

Jamin M Jones
... more
0 votes 10 answers Share Flag
Sun Nov 8, 2009
Elizabeth Herbert answered:
Provided that it passes certain guidelines and will be granted a Certificate of Occupancy, I believe you can. DEFINITELY get yourself a Buyer Agent!
0 votes 3 answers Share Flag
Mon Oct 19, 2009
Michael Giles answered:
The best place to start would be with the building inspector. He will be able to tell you if it is possible and if so what the process would involve,
0 votes 2 answers Share Flag
Fri Sep 25, 2009
Cleopatra Pappas answered:
You should speak to your bank, credit union or a qualified mortgage broker to best answer your question. Lenders will look at all your paperwork (W2s, tax returns, assets, etc,) but they most want to know the likelihood of FUTURE ability to pay and compare your debts and liabilities to cashflow. Good luck. Cleo Pappas at ... more
0 votes 5 answers Share Flag
Fri Oct 9, 2009
Daniel answered:
short answer is no

your credit history is the only record that a lender has to guage as to how you pay your bills

bad credit means that you do not pay your bills

0 votes 3 answers Share Flag
Sun Aug 23, 2009
Patrick Thies answered:
Yes you can, but there are some conditions. All offers must be presented to the seller upto the date of closing. However, your offer would be a back up offer. If something happened to the first offer, then you would be next in line. The downside of this is that you have an offer on that property until it closes. ... more
0 votes 5 answers Share Flag
Wed Jun 26, 2013
Entropymom answered:
Hi webwoman,

Your son should look at some very family friendly areas first (try North Shore area---I am very partial and it has a lot to offer.)

Find a good realtor. If looking in North Shore area, try Deb Terlik at Keller Williams in Beverly. We ended up buying our house from one of her clients and I was really impressed with her.

The realtor should be able to steer your son to some good properties. When filing out the application, he should be as honest as possible and let the realtors and landlord work out a fair deal. Most landlords would be understanding in this situation. Just be ready to negotiate.

Things he may consider negotiating:
---sign a 18 month or 2 year lease (landlords love long term rental).
---offer additional escrow.
---pay first two months up front with the escrow.
---offer to pay rent on the 15th of the prior month (so he is always 2 weeks ahead--giving more than ample notice to landlord if there is trouble.

Most landlords want good tenants and a lot of tenants are renters because of a credit mishap. That is the reality of today. If your son has a good realtor working with him and is willing to negotiate, he should be able to find something suitable.


Let me know if you need any contact info for realtors. I have worked with many and there are a few good ones out there and some really bad ones too.

... more
0 votes 4 answers Share Flag
Wed Jul 1, 2009
Coldwell Banker Mendo Realty Inc answered:
Greetings Tallyj:
The First Time Home Buyer's Credit (meaning that you and any co-buyer have not owned a home in the past 36 months) is an income tax credit of $8,000 or 10% of the purchase price, whichever is lower. If you purchased your home in 2008 you must pay back the credit over 15 years with no interest due, at the rate of about $500 per year. If you purchase a home between January 1, 2009 & November 30, 2009 - you do not have to pay back the credit. You must occupy the home as your principle residence for at least the next 36 months, but then the credit is forgiven. Yes, you must purchase a home first to get the credit. Go to and look for form 5405. ... more
0 votes 4 answers Share Flag
Fri Jul 24, 2009
Tej Bhatnagar answered:
Hi Tallyj,
Are you talking about the first time home buyer tax credit? You need to purchase the home by November 30, 2009. This doesn't mean contract on the house by that date, it means you actually have to close on the home by that date. Then when you do your taxes for 2009 next year, you will get your credit of 10% or $8,000, whichever is lower. Of course, there are income restrictions. See my website for more info:
... more
0 votes 2 answers Share Flag
Wed Dec 28, 2011
Patrick Beringer answered:
You do not qualify--"Purchaser (and purchaser's spouse) may NOT have owned a primary residence in 3 years previous to purchase."
0 votes 5 answers Share Flag
Thu Apr 2, 2009
Michael Giles answered:
Hi Rebecca,
Condo's are a tough sell right now because of the decline in single family prices, but that doesn't mean the right deal is not there for you. Buying and selling anything on a short term plan could be risky in this market. You should sit down with a Buyer's agent and go over your needs and overall goals. You can use the current MLS data to help you decide the right type of property for you. Once you have a better idea of what you are looking for, you can start searching for the best buy/resale property for your budget. If I can be of any help, don't hesitate to contact me. Best of luck. ... more
0 votes 8 answers Share Flag
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