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21703 : Real Estate Advice

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  • Local Info2
  • Home Buying1
  • Home Selling0
  • Market Conditions2

Activity 55
Sat Oct 29, 2011
Annette Lawrence answered:
You are approximately 1 year late with your question. But everyone must start somewhere.
Most communities have first time home owner or affordable housing initiatives. These programs will provide discount mortgages and the down payment for eligible homes. Nearly all of them require the prospective home owner to attend classes that teach maintenance skills, household management and setting up budgets. Some work in conjunction with organizations such as Habitat for Humanity and involve the prospect in additional activities such as the home construction process. As you can see, all of these require some lead time before you can move-in.

Call your city and county leaders to determine the programs that are available to you. You may even consider reaching out to a real estate professional for advise.

You would be well advised to be proactive. Cities and counties are all facing incredible budget challenges and you will need to press hard to prevail in this endeavor.

Best of success.
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0 votes 3 answers Share Flag
Sun Aug 7, 2011
Patty Smith answered:
Hi Michael:

I work on a real estate team that works with investors. I would be very happy to let you know how we work. Please e-mail me at pattys@longandfoster.com.

I look forward to your e-mail.

Have A Great Day!

Patty
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0 votes 6 answers Share Flag
Tue Jan 29, 2013
Nick Pakulla answered:
If the HOA is setup as a condo you will need to meet the condo guidelines no matter what (and this also applies on a conventional 20% down loan). Effectively no one can get a loan in that entire community until they get below the limits. I have come across very few that have such high investor ratios, but some can slip above the 15% delinquency rate depending on the month. Let me know if I can be of any assistance, our bank can close in as little as 2 weeks.

There may be some bank out there with a portfolio product, but I have not come across anything...
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0 votes 5 answers Share Flag
Thu Dec 20, 2012
Cathy Chapman answered:
Hi Bill,

I recommend you check with the police department and ask about crime statistics for this area if you have any concerns.

Cathy Chapman
Signature Home Sales
301-514-6839
0 votes 6 answers Share Flag
Tue Jun 21, 2011
Christy L. Fear answered:
No you don't....Tenacity is a brokerage firm and I am able to do all of the work for you...you really don't want to have a ton of people pulling your credit etc...please give me a call and we can discuss this further.

Hope to hear from you soon.

Christy Fear 301-474-4242 x1286
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0 votes 14 answers Share Flag
Tue Aug 2, 2011
Terri Vellios answered:
You need to read your contract. If you had an appraisal and financing contingency in the contract and now you removed those contingencies your deposit is in jeopardy.

Contingencies are in the contract for a reason.

Good luck.
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0 votes 10 answers Share Flag
Wed Sep 8, 2010
Gerard Dunn answered:
Many appraisers charge dependent upon sales price of a home. The more expensive the home - the more expensive the appraisal.

Often though - they are not making what is being charged. They may have to split the fee with the owner of the company - or - they are being paid a much lower flat fee by an appraisal management company.

I have some good appraisers that I am happy to pass along to you for Frederick, MD.

Shoot me an e-mail.
Good Luck!

Gerry Dunn
Associate Broker - 28 Years
gerry@MyPotomac.com

Licensed in Maryland, Virginia and D.C.
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0 votes 7 answers Share Flag
Wed Jul 6, 2011
Staci Johnson answered:
There are condo fees associated with these properties. They range in price depending on the individual home. Were you interested in seeing one of the properties?
0 votes 1 answer Share Flag
Fri Aug 15, 2014
Maureen D'Aiutolo answered:
Hi
No real hoops to jump through, but some basic regulations in place in Maryland that must be followed, including Fair Housing, rental receipts for each month payment, lead paint disclosure if appropriate.
A good starting place might be the Md Consumer Protection Agency. See link below. Also, Md State Law, Section 8- Rentals.
Good luck
http://www.oag.state.md.us/Consumer/landlords.htm#laws
Maureen D'Aiutolo, Broker
Key Realty Group LLC
Frederick MD
maureen@keyrealtyfinehomes.com
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0 votes 8 answers Share Flag
Fri Aug 13, 2010
Scott Godzyk answered:
If you are looking to refinance, you should probabily hold off on addiing her to the deed until the refinance is completed. If you just purchased a home, why were you even put in an adjustable mortgage with rates at industry lows. You should contact your lender and ask if they can modify your loan into a fixed rate now. It is worth the rty as it will save you alot of money in new closing costs.

if they will not, then contact a loan officer to refinance you, make sure there are no prepayment penalties or with teh new loan there is any seasoning requirements, let your loan officer know when you purchased and why you want to refinance.

good luck with working things out
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0 votes 7 answers Share Flag
Sun Aug 1, 2010
James Gordon ABR SFR SRS answered:
Jim get in contact with a good Realtor® in your area for a good idea of the value of your home. Let them know that you want an idea of the price that you would have to be at to sell in 90 days. There are some agents that if you are thinking of listing your home will try to "buy" the listing by giving you a higher price and counting on getting multiple price drops from you. ... more
0 votes 6 answers Share Flag
Tue Jul 13, 2010
Scott Godzyk answered:
You would need to prove they did with teh intent to harm, if you purchased it and proved it you may have a case, but if you only are looking at it, you have not been harmed yet. Unfortanately most mistakes in size are either a lazy agent using previous calculations from another source that were not checked or actually measured by themselves or as honest as a miscalculation.

Square footage is a basic math calculatio by taking the dimensions and multiplying. If soemone is adding square footage that is not there, they are not helping anyone in the long run. You could always wrote a letter of complaint to teh managing broker of teh firm, however as far as illegal, you have tio prove it was deliberate and unless tehy confess, it is a tough chore.
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0 votes 1 answer Share Flag
Tue Jun 22, 2010
Kirk Craig answered:
You should really talk to a mortgage professional. They will be able to help you determine what you can afford. Plus if there are any outstanding items you need to clear up during the 6 months this would be the time to find out.

Kirk Craig

www.ziprealty.com/agent/kcraig
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0 votes 15 answers Share Flag
Fri Nov 22, 2013
Fred Glick answered:
It's not, sorry.

You may have some options.

You can rent the current place as long as the new mortgage qualifies you with your current payments plus the new one.

You can rent your current place and then move to somewhere that you rent instead of buy.

You can find a Seller that will do the financing instead of a bank (hard to find).

It's not easy, but with the right mortgage person and real estate agent, it might be possible.

Good luck!
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0 votes 12 answers Share Flag
Fri Nov 22, 2013
Sean Dawes answered:
Jim,

Your best bet is to email a local realtor and have them comp your home. Websites just use raw numbers and generally are off by a decent amount when it comes to pricing. Either too high or too low. They do not take a look at the inside of homes and compare apples to apples.



Sean Dawes
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0 votes 8 answers Share Flag
Mon Feb 15, 2010
Peter Thompson answered:
Dear Paola,

If you are thinking Frederick, Urbana is showing signs of stabilizing to increasing value. If you would like me to research a specific area in Frederick, please let me know. As you know, real estate is local. ... more
0 votes 6 answers Share Flag
Fri Jan 15, 2010
Jenifer Mackley answered:
Hello,
That should not be a problem at all. What she would have to do get a gift letter for the lender stating you will be providing the funds. I am a realtor licensed in Md. And Pa. If I can be of any assistance to get you/her going in the right direction please give me a call. Best of luck.
Jenifer 301-514-9810.
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0 votes 6 answers Share Flag
Wed Sep 2, 2009
Cathy Chapman answered:
Hi Darius,

Yes, there is public transportation from Frederick into DC via the Marc Train. You would have to drive to one of the two Marc station's in Frederick. I'm not sure if there is bus service to the Marc station from Whittier.

Cathy Chapman, Broker/Owner/Agent
301-514-6839 Cell
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0 votes 2 answers Share Flag
Sat Aug 22, 2009
Erin Rowley Stoner answered:
You can check tax records. I am not familiar with the exact site in your area, but it is public record. It may be easier for you to find an agent to share that information. They will look at sales in the area by utilizing the MLS. They should be able to give you a report in writing that details the different properties, and can even relate them to your the property you are thinking of buying or selling.

Oh! And the best part is-- they would probably do it for free! Just ask for a CMA!

Good Luck!
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0 votes 5 answers Share Flag
Sun Apr 12, 2015
Fernando Herboso answered:
You should be asking that question to your listing agent. . . unless you are using a FSBO service that only lists your property in their website. . a little hard to sell if you aren't in the MLS ... more
0 votes 8 answers Share Flag
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