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16803 : Real Estate Advice

  • All7
  • Local Info0
  • Home Buying4
  • Home Selling0
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Activity 26
Fri Oct 18, 2013
Judith Mukaruziga answered:
What this means to Buyers?
Starting April 1 2013 there are going to be some changes that will affect you if you are an FHA loan buyer.There are some IMPORTANT changes for FHA that you will want to know about coming soon. Contracts written PRIOR to the new changes must have case numbers assigned prior to these dates.

• Effective April 1, 2013 the MONTHLY mortgage insurance premium will go from 1.25% to 1.35%*
• Effective June 3, 2013 the MONTHLY mortgage insurance will go from a 5 yr minimum to Mortgage Insurance for the LIFE OF THE LOAN for less that 10% down.
I want to make sure that home buyers understand all the aspects of buying a home including unknown costs that could hurt the buyer in the long run!
For more details:
CALL Judith at 814-571-3650
Web: http://www.statecollegehomes4sale.com
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0 votes 2 answers Share Flag
Tue Jan 15, 2013
Peter Chiarkas answered:
There are many popular areas in State College to find a place to live. How far from down town would you like to be? The market is very competitive so homes rent very quickly. Please feel free to call with questions at 814-571-8204.

Peter Chiarkas
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Thu Dec 27, 2012
Paul Confer answered:
The State College market had its price dip the last quarter of 2008 and first quarter of 2009. Since then, real property has been appreciating and no future price drops are anticipated. Interest rates are at a 60-year low so it is an investors dream if there is a lender involved! I'm investing in the market myself! Would be glad to help you with the specifics of CAP RATES, RATE OF RETURN, PRE-TAX CASH FLOW, etc. My answer is "Yes, it's a good time for investors!" ... more
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Mon Nov 12, 2012
Peter Chiarkas answered:
They have not had any effect on us at all. The fact is our market is up 85 sales in State College compared to last year at this time. Which is actually a 16% increase. In addition our average sales price is up 3% and our days on market are a third less. This is a wonderful place to live. We are...one community. Please feel free to call if you would like to learn more. 8145718204 ... more
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Thu Nov 8, 2012
Karen and Ashley Krupa answered:
Currently, average days on the market for residential homes in the Centre County MLS is around 80 days.
0 votes 6 answers Share Flag
Fri Jul 20, 2012
Tim Moore answered:
What are the points on the loan? This is the largest amount. Next is the appraisal, survey, closing company or lawyer fees. Your lender can better answer this question because they generate most of them and decide what you need in escrow fees to close. ... more
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Sun Mar 18, 2012
Tim Moore answered:
Do you mean Hard Money? I doubt it is required anywhere for anything. It can be used sometimes.
0 votes 6 answers Share Flag
Thu Mar 1, 2012
Peter Chiarkas answered:
We find closed homes from our database. Every subdivison is different. You are right below grade finished square footage isn't close to be the same value. Please feel free to call 814-571-8204. I am happy to discuss the home you are inquiring about.

Peter Chiarkas
B.S Real Estate PSU
Associate Broker
Kissinger Bigatel and Brower REALTORS
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Thu Mar 1, 2012
Katie Prestia answered:
Good Morning Sheryl,

The location you mentioned above is for grad students, professionals & families. Did you need more information on that specific area? I am a Real Estate Agent with Kissinger Bigatel & Brower Realtors in State College and would be happy to send you information.

Please feel free to email me at kmprestia@gmail.com or call me at (814) 280-7179.

Regards,
Katie Prestia
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0 votes 4 answers Share Flag
Sun Feb 27, 2011
Scott Godzyk answered:
The banks use a closing company, closing attorney or title company to close mortgages. Some banks have an inhouse department where others will hire a seperate company. Closing can be anywhere that is convenient to the buyer or home owner that is refinancing. If teh buyer or home owner requests it be at their home, it certainly can be, i have had closings as Dunkin Donuts where the buyer requested as well as at numerous buyers workplaces.

The best place is always the closing lawyers office becuase they have teh copier, computer and access to files and help that are not readily available in soemones home or other location.

The simple answer to your question is make the request to your loan officer if you want to use a certain company and make sure they are on that lenders approved list, otheriwse the loan officer will refer to you who they usually use
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Fri Jun 27, 2014
Anna M Brocco answered:
A decision only you can make based on your wants, needs and lifestyle--It’s all about costs and lifestyle. Costs—financing v. moving-in, mortgage v. rent, repairs v. upkeep. Lifestyle—stability v. mobility, predictability v. flexibility, equity v. freedom from debt. It used to be all about equity. Now, there are other variables to consider in the balancing of the buy/rent equation--again a decison only you can make. ... more
0 votes 9 answers Share Flag
Sun Sep 26, 2010
Anna M Brocco answered:
Why not contact/visit any local realty office and explain your services. Most realty offices do have staff meetings, so why not ask to be invited to speak for a few minutes during one of the meetings--bring some fliers and business cards to give to agents, so you will be remembered when the opportunity arises. ... more
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Tue Oct 27, 2009
Joni Teaman Spearly answered:
The appraisals in State College are based on overall finished square footage, amount of bedrooms and bathrooms, extras in the home (fireplaces& etc,..). The appraisers have to justify their overall price with comps in that general area usually within a short distance and within 3-4 months depending on the banks requirements. There are may factors involved not necessarily the square footage itself determines the pricing. If you would like more specific information, please feel free to contact me for furher assistance at (814) 280-5699 or jonispearly@gmail.com ... more
0 votes 2 answers Share Flag
Mon Oct 26, 2009
Michelle Swope answered:
Hi Brandan,

Yes, there are condominum for sale in State College as well as townhouses. The difference is the legal ownership arrangment. Many people interchange these types of properties. A condo normally refers to the fact that you do not own the land underneath the unit and you share in the common area and expense by paying a monthly fee, which varies in price and what is covered in the fee. Some even include water, sewer, trash and basic cable. ... more
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Wed Oct 21, 2009
Maria Hughes, S&A Homes answered:
To answer your question....No, I would not pay for another appraisal. I recently helped a former client of mine who wanted to refinance. The appraisal came back much lower than what was expected. I did a CMA for him and was able like you to find comps, better comps. I prepared the CMA and suggested he submit it to the underwriter who will in turn go back to the appraiser and ask for a re-consideration of value. In this particular case, it helped.

Keep in mind the comps you may think will work may have already been considered by the appraiser as not being comparable. This is why I suggest you do the above. All they can do is say no. It's worth a shot. My suggestion first, would be to contact a REALTOR and ask them for a free CMA. See what comps they come up with.

You can ask for a new appraisal but I would only do it if you have a particular reason to believe the appraiser made a mistake that seriously deflated the house's value. For example he miscounted the number of bedrooms, etc. Again I would have a REALTOR look it over and ask for their opinion. They may think the appraiser is right on track or suggest you request a reconsideration. In my opinion this is most cost effective approach than paying for another appraisal.

Please keep in mind, the bank/appraiser does not care that you need X amount to finish your basement. If this appraisal came in at this price, chances are the next one will too. Maybe you need to wait a little longer before finishing your basement or do the best you can with what they give you. Again I would ask for a reconsideration before giving up.

Contact a REALTOR of your choice first. If you currently do not have one in mind, please consider giving me a call. I should be able to tell you whether I think the appraisal is right on track or not. This comes from years of experience.

Good luck and if anything let me know how it turns out.

Maria
maria.hughes@remax.net
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Wed Oct 14, 2009
Decwinter asked:
I am first time buyer, so I dont know how the process of buying a foreclosure house work. I am paying by cash.
0 votes 0 Answers Share Flag
Mon Nov 2, 2009
Real Estate SINY answered:
Are you qualified to purchase a home? do you have your pre-qualification and/or pre-approval from a mortgage bank? is the property listed with a broker? if you answered yes to all of the questions then you should contact the broker or agent and make an offer. ... more
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Thu Sep 9, 2010
Nina Chen Landes answered:
In my opinion, since 2006, the builders in the area have not been pulling permits to build quite as rapidly as they have in the past. Also, the new constructions that are being built in State College are selling as they come on the market. Since there is the lack of inventory, they don't stay on the market as long as they have in the past. In the Foxpointe neighborhood, there are 2 new construction listings that are sale pending (List Price between $339,900-$354,900). To give you an idea of the size of the houses, they are around 2200-2500 Square Feet. Please let me know if I can clarify anything for you!

Nina
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Thu Sep 9, 2010
Nina Chen Landes answered:
Where is the property located? How large is the yard? I may have someone who is interested if the yard offers some privacy. Please let me know: nina@ninachen.net or 814-441-0755.
0 votes 3 answers Share Flag
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