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Home Buying in 27615 : Real Estate Advice

  • All21
  • Local Info2
  • Home Buying7
  • Home Selling5
  • Market Conditions1

Activity 170
Tue Jul 27, 2010
Mimi Francis answered:
Short sales can be very messy - I tell my buyers there "ain't nothin' short about a Short Sale". In my experience, the second mortgage makes it particularly complicated because both banks must now agree on how to divide up the already-insufficient proceeds from the sale. I've been in this position with buyers and they can be worked thru - but it takes a terrific Listing Agent and a patient buyer. Regarding the contract, when you sign for Buyers Agency, you actually hire the entire firm to assist you in the sale. (I tell my Buyers it's the "Mimi If You're An Idiot Clause" - if it turns out that I'm an idiot, my Broker in Charge would be happy to help them find a colleague who offers a better 'fit' for their needs.) If your agent works for a cooperative firm, like Keller Williams, Cary, her colleagues who are experienced with Short Sales may very well be willing to help her thru her first Short Sale. I know my colleagues helped me thru my first one. Or, if she feels out of her depth with a Short Sale, there may be a colleague in the office with the experience you desire. I'd speak frankly with her about your concerns - I'm sure she wants to see you as happy as my clients have been :0) ... more
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Wed Jun 23, 2010
Rayssa answered:
I would suggest looking in The Brier Creek area in Raleigh, Cary near Crossroads and Knightdale. I have access to all the listings in NC. Please visit my website and feel free to browse some listings that are available. I would love to help. ... more
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Wed May 26, 2010
Scott Godzyk answered:
A garage is not included in living space. As far as a basement and teh definition of what is considered, it is gross living space above ground. No 1 wall can be considered under ground, which means sloping yards with a full walk out and 1 wall underground with no full windows is considered finished basement.

When placing value using a CMA or BPO, an agent wil use the GLAG an dthen add in value for a full or prtialk finished basement. The round numbers are $20,000 for a full baement finished but that can swing wildly up or down based on the values in your area. If you are in an upperclas or higher value area, the value will be higher.
... more
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Mon May 10, 2010
Jim Laudate answered:
There are many reasons why a particular home does not sell. By law in North Carolina an agent represents the seller unless that agent has a buyer agency agreement in place with you. Having a buyer's
agent costs you nothing and has someone looking out for your best interests. A good buyer's agent can help with the questions. If you are not working with someone I will be glad to discuss agency with you.
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Thu Feb 11, 2010
Daniel Eberwein answered:
You do have a third option, and that's back out of contract. You can tell the builder that the two options he gave you are not acceptable, and you can tell him you'll accept the house on that lot for the agreed upon price, or you'll back out of the contract.

You can contact an attorney to determine if the contract can force him to build the house on that lot, since he is attempting to alter the original agreed upon terms, or if he does break it, are there any penalties to him.

Did you use a agent to represent you in purchasing, or did you use the onsite agent of the builders?
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Wed Sep 11, 2013
Mike Jaquish answered:
You should be able to get a loan if all other parameters are met.
And any competent loan officer would have been able to give you good guidance for your situation, before taking application and appraisal fees from you. ... more
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Wed Feb 3, 2010
Ute Ferdig answered:
Hello Jamie. They only count 75% of the rental income and only if you have at least 30% equity in your rental. If you don't have the necessary equity, they don't count the rental income at all. I think FHA may only require 25% equity, but I am not 100% sure about that. I don't think they look at depreciation factors when determining the rental income. ... more
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Tue Feb 9, 2010
Andres Gomez answered:
I can help you with a loan for up to a 4unit property. Call me at 704.488.4296.

Best regards,

Andres Gomez
0 votes 6 answers Share Flag
Tue Nov 24, 2009
Are you trying to purchase in Connecticutt or North Carolina? Either way, the best thing for you to do is call a mortgage lender and get pre-qualified. WIthout all of the financial picture, no one can really help you develop a plan for homeownership. It will take 20 to 30 minutes on the phone - and a lender can help you with your plan! 8o)) ... more
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Sun Nov 15, 2009
Larry Story answered:
Not sure what your question is but yes the tax credit is no longer just for first time home buyers. Now there are guidelines for buyers to meet from income to home price. You can get up to $6,500. They even raised the joint income of the household to $225,000, and the maximum purchase price up to $800,000.

Hope this helps,
... more
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Sun Oct 25, 2009
Roger Kenney answered:
Dear Lknato,That is a question that your Realtor should answer for you.

Roger Kenney
0 votes 6 answers Share Flag
Thu Dec 2, 2010
Erica McClenny answered:
I know there was some financial troubles there but I haven't looked into all the details. The condo's are showing a special financing through Capital Bank.

FROM MLS Notes: SPECIAL:3.5% fixed,100%,No PMI, NO origination-Capital Bank- thru 11/09

I'd guess that the builder is giving up a deed in lieu of foreclosure and working with the bank to sell them. They are on the high side, in my opinion.

Let me know if I can dig up more details for you.
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Wed Oct 7, 2009
Mike Jaquish answered:
Less expensive.
You take home.... ? $2200/month?
That $190,000 mortgage + Taxes + Insurance will eat half your take home.

But, what you really should do is sit with a lender ASAP to figure out what you will qualify for, and your comfort range.
I don't think a room mate contribution should be a part of your calculation.
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Mon Sep 14, 2009
Mike Jaquish answered:

Here is the link to the Wake County Revenue Tax Rate page, with the county and municipality taxes itemized: ... more
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Thu Sep 10, 2009
Marge Bennett answered:
Ask your agent to show the comps and how you arrived at your price. Try to be fair in valuing th differences ie the pool, etx. If you approach it logically, I think you will have a better chance on negotiating a fair price. ... more
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Mon Sep 7, 2009
Nellie Lytvinenko answered:
Depends on where you will be working/playing, price range; children- public or private schools?
0 votes 5 answers Share Flag
Tue Aug 25, 2009
Mike Jaquish answered:
I like that we are getting mixed signals. That is an improvement overa ll bad news.
I like that the stock market is leading the way.

The strength in your plan is that the lower price range will remain appealing, and you risk less if the stock market indicators and the news turn against you. ... more
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Wed Oct 8, 2014
Afripino answered:
To add detail, the home was never listed, so there was no advertisement for appliances included. This adds to the ambiguity and my confusion on the situation. Thanks!
0 votes 16 answers Share Flag
Tue Sep 29, 2009
Shirley Kelley answered:
Jamal, it sounds like from what you are saying that you are a first time homeowner. But to be sure, you need to find a good real estate agent in your area who knows the ins and outs of first time homeownership. If you need help with that, let me know. I know some great agents in that area!

cell: 828-400-6295
... more
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Sat Jul 25, 2009
Mimi Francis answered:
Congratulatons on considering the Triangle area. My family moved here after many years in the NY/NJ area and we *love* it here! My parents also live in the area and - in their 80s - don't drive much anymore without a problem. A couple of communities come to mind including a 55+ active community in Cary and our subdivisiion in Apex. We chose our subdivision because it's a short walk to the library, swimming, tennis courts, walking trails as well as groceries, restaurants, etc. Happy to chat with you about your specific interests and needs and I hope your family enjoys NC as much as mine does! ... more
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