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38018 : Real Estate Advice

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  • Home Buying1
  • Home Selling1
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Activity 37
Fri Apr 26, 2013
Rodney Mason answered:
Real estate agents are not allowed to comment on a variety of topics. The Fair Housing Act restricts the information that can be provided by a real estate agent.

Off Limit Topics Include:
• Crime Statistic (including questions about whether a neighborhood is good or bad or safe)
• Demographics
• Environmental Concerns
• Household Income
• Religion
• Schools (including questions about how good or bad the school is)

Determining to the answers to questions on any of the topics listed above is something that you would need to do on your own. It is up to the individual to make their own determination about a specific area. If a real estate agent were to comment on such a thing, it could be steering which is a prohibited act.

Some websites to try include: http://www.crimereports.com
http://www.familywatchdog.us/
http://www.neighborhoodscout.com
http://www.greatschools.org/
http://www.schoolmatters.com

Reasons Why A Real Estate Agent Cannot Comment
http://realestate.msn.com/article.aspx?cp-documentid=20748062
http://www.fairhousing.com/index.cfm?method=page.display&…
http://realestate.aol.com/blog/2010/12/06/what-a-real-estate…
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0 votes 3 answers Share Flag
Fri Dec 14, 2012
Hamza Ibrahim answered:
That's a bit of a broad question but I may be able to help answer that.

What is actually shown for sale on trulia is not always up to date. Many homes are usually already under contract or sold but were never updated on the site by the appropriate parties.

Cordova in general has seen a major shortage of inventory as well as most of the Memphis area. Typically many of these homes are now sold much quicker than 12 months ago if priced correctly.

The reason I say there is a shortage is because many of my investors place contracts on Cordova homes above list price the same day they are placed on market to have a shot of winning the property. Obviously in the higher price ranges the view changes but I still see a very active market.

I placed a Cordova home for sale about a week and a half ago and had a full price contract three days later in the upper 100,000 range.

To my knowledge I am not aware of any particular flood zones in the Cordova areas unless the home sits on a neighborhood lake.

If you would like a more detailed analysis of the area I can send you an interactive report showing you a very detailed look of the area. Simply send me an email address.
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0 votes 1 answer Share Flag
Thu Dec 6, 2012
Michael Bellaire answered:
Hello,

Memphis is a great area generally for investing in rental property. The variety is endless, and a purchase would depend primarily on what your investment strategy is. You can acquire properties from $2-20,000.00, or, you can go as high in price range and location as you want.
What's your strategy, what are your price points and comfort zone?
If you would like more information or have specific questions or concerns, feel free to contact me and we can discuss your plans, strategy and goals.

Michael Bellaire, Broker, ABR
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Thu Dec 6, 2012
Barbara Grandolfo answered:
Hi T,

If I am understanding you correctly, you quitclaimed the title of your home to a management company but the loan is still in your name? If this is the case, it may be extremely difficult for you to qualify for another loan with the first one still in your name. I would seek the advice of an attorney immediately to find a more complete solution to your problem.

Good luck to you,

Barbara Grandolfo
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Sun Oct 21, 2012
Ron Thomas answered:
Someone from the Government Printing Office was born in Australia.
0 votes 1 answer Share Flag
Sat Oct 20, 2012
Sherry Hulen answered:
I work with investors. I sell hud and fannie mae properties.
0 votes 4 answers Share Flag
Sat Dec 1, 2012
Sharon Long answered:
I am a realtor and I live in Cordova. It is a subdivision called Cordova The Town, beautiful neighborhood with small yards and new construction homes for sale as well as existing homes.
Prices ranging from $175,000 and up. There is a brand new school walking distance from Cordova The Town. Churches on every corner. Call Sharon with First National Realty at 901-461-6132 for a showing. Thanks!
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Thu Aug 9, 2012
Cathey Mccarver answered:
No, it's in the county only. Manor View is located in Woodland Hills.
0 votes 4 answers Share Flag
Thu Oct 4, 2012
Jason & Laura Wallace Team answered:
We will be happy to assist you Steve in locating homes in the USDA approved areas. We are very familiar with those areas.

Give us a call and we will be happy to assist you!

Laura and Jason
WallaceTeamSellsMemphis.com
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0 votes 5 answers Share Flag
Mon Jul 16, 2012
Hamza Ibrahim answered:
Send me the address in an email or text at 9013383051 or hamzarealtor@gmail.com; I will send you a very detailed report about the property. No-obligation; I won't try to shove a contract down your throat :) ... more
0 votes 6 answers Share Flag
Sun Oct 21, 2012
Chays answered:
It isn't bad at all. It just depends on where. Cordova has varying pockets of really nice areas and up-kept, upscale homes built in 90's, 2000's, owned by families that care about their area/neighborhood, but these pockets can be right next to areas that are not as good/well-maintained. It is probably as unique a real estate opportunity as there is. There are deals to be had on really nice, large homes for very reasonable price/sqft. I live in Berryhill Farms, in the section that is closest to Riverwood Farms. Our area of Berryhill is really nice because of this proximity to a nicer part of Cordova, but also because it is a part of Berryhill Farms that was developed by leaving all of the mature trees and topography (south side of Chimneyrock). If you look at B.F. areas on the N side of Chimneyrock, it was developed by razing all of the trees and flattening everything (not nearly as aesthetic). Of course, also, the further tucked back off Chimneyrock or Dexter, the better (naturally). I've been in this area for 8 years, and every neighbor around me and at least two or three houses down have been there longer. This is a stable area, but go down 1/4 mile in various directions (like closer to Cordova High, and things are more volatile/more movement in sales/not as up-kept, etc). I liken Cordova to midtown, like Cooper-Young area. There are some REALLY nice pockets of houses/neighborhoods, but it can be right next to areas that are not as nice. So, if you are selling, you probably can keep your shirt if you are in a better "pocket". If you are buying, there are good values for the size to be had if you figure out where these "pockets" are. Hope this was helpful. ... more
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Tue Jun 19, 2012
Hamza Ibrahim answered:
Without an income, that is very tough. Having no income simply can not prove that you can pay the loan back which makes it so hard to get the loan. Best way is to slowly try to establish your husbands credit if he is working and apply once it has been established. Slow process but it is the only route I see you can take. Of course, in my own opinion. ... more
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Sun Oct 21, 2012
Suzanne MacDowell answered:
While prices are starting to stabilize everywhere it is going to be a very long time before home prices reach the levels they were at the height of the market. Probably not until at least 2020. We ARE in a recovery, but when prices fall as far and as fast as they did during this most recent downturn it takes a very long time for them to go back up. If you are considering putting your house on the market, my advice would be to do it now. There other unknown is whether there will be a second wave of foreclosures now that the robo-signing scandal has been decided in favor of the banks. If so, prices could remain low for a long time and that's just not a chance most people are willing to take. ... more
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Tue Jun 19, 2012
Marge Bennett answered:
try talking with your loan officer's supervisor. You may need to go to another lender. Does the builder have a lender who can help? Your loan officer may have known about the inconsistencies, but had your loan gone to underwriting? ... more
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Tue May 21, 2013
Rosie Olloway answered:
I can help, go to rolloway@primelending.com to check out our product.
0 votes 6 answers Share Flag
Thu Dec 6, 2012
Rosie Olloway answered:
I can help you purchase a house in Cordove with less down payment and less month payment. Please visit my website at rolloway.primelending.com for more information or email me at rolloway@primelending.com

600-620 is OK
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Wed Apr 29, 2015
thinz answered:
If it were me, I would spend an hour a day calling on the various rentals listed in the area you are interested in and ask if the owner would be interested in doing a lease purchase. It's likely you will find motivated landlords and homeowners that are interested. Could also just start by going to Google and typing the following: lease purchase cordova tn You will be busy and I'm sure find something. Good luck... Tom Hinz thinz@apexgroupus.com www.shortsaletosell.com ... more
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Fri Jan 28, 2011
Silvana Piadade answered:
Any Realtor can help you find a lease/purchase. Keep in mind the seller may want a copy of your credit report, if one is not available that you are working with a lender and there is a specific time period required for the lease/purchase. You Realtor should have all the necessary documentation you will need to present an offer. Sincerely. Silvana Piadade, ABR. ... more
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Sun Nov 4, 2012
Albert Lee answered:
Hello there TJ, I know it's been long time ago since you've asked this question, but just wanted to inform you for the future consideration.

Check us out next time for your rentals or even purchase.

omnirealty.net

Thanks
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Tue Jan 11, 2011
Eli Givoni-Short Sale Dept LLC answered:
Yes. You should purchase the new home first, if you can get a loan. Then short sale the house you are living in. Your credit will take a hit, but it will bounce back rather quickly.

Usually, after a short sale, a person can buy a new house in two years. So, if you can't afford to buy now, you should sell the house you are living in, and move into a rental. Time is on your side. The market is still declining. So, after renting inexpensively for two years, you can use the money you saved to buy a less expensive home. I know it sounds inconvenient to move twice, but it will be a great way to get out from under your debt and get a fresh start.

Several of our past short sale clients look to buy new property two years after their closing. They have saved money, got a better job and have their life in order. They tell us that the short sale was the best thing they ever did.

Please call us directly to discuss your specific situation. Our services are FREE to homeowners. We look forward to hearing from you.

Eli Givoni, Director
Short Sale Department, LLC
561-361-1909
info@shortsaledept.com
www.shortsaledepartment.com
Serving all 50 states
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