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40290 : Real Estate Advice

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Activity 297
Sat Apr 14, 2012
Sabid Velic answered:
What home are you asking about? Street?
0 votes 6 answers Share Flag
Tue Mar 20, 2012
Mary Beth VanMeter answered:
If you live near the intersection of Baxter and Winter, you know this is an ever evolving area for both residential and commercial Real Estate. It's hard to tell just what you are asking but I would not rule out seeing new commercial ventures in that area. Making necessary repairs to your home is so important in maintaining it's value. Do you have questions on your home's value? I can help you with that, shoot me an email at We can discuss. ... more
0 votes 2 answers Share Flag
Thu May 17, 2012
Louise Venettozzi answered:
It depends...while I agree with the previous answer and feel that the market is improving gradually, I also see a glut of homes on the market & a significant amount of REO/Foreclosure/Short Sale propeties. If you're an investor, this is very positive. If you're a first time buyer with good credit and can qualify for one of the many programs that are out there, this is also very positive. If your credit is not good, unfortunately, you are going to miss out on some great deals! A sweet spot is there for those who can take advantage of it! YES! ... more
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Sun Mar 18, 2012
Fred White answered:
All areas should appreciate. Obviously, the places that will appreciate the most is where the building is going on (when there wasn't much there to begin with), and that IMO would mean the condo market downtown. There is not a whole lot of building and renovating going on anywhere else. ... more
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Thu Mar 8, 2012
Tim Moore answered:
The 203K is a program that allows you to buy a house for, let's say, $100,000 and mortgage in $20,000 for repairs making the total loan $120,000. There are loads of rules and hoops to jump through. You have to find a 203K lender, Wells Fargo is one of the best. Find a good Realtor or speak to some lenders and ask about the 203K loan and if they can do them. ... more
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Sun Mar 18, 2012
Kim Kramer answered:
A great buyer’s agent will take you step by step through the real estate process from finish to the closing table and beyond. They will be one step ahead of items that are to be done. Example - checking on appraisals, requesting home inspection reports, termite inspections, etc. they are able to foresee possible issues that may arise and deal with those appropriately. They meet the need of clients. They are listening to their client’s needs and wants and then able to weed through properties to find the property that meets their clients’ needs and wants with the best possible fit. I love working with buyers. I get to experience the excitement of a family living the american dream..
Kim Kramer
... more
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Thu May 2, 2013
Neil Blumberg answered:
(1) Get details of bank account into which your escrowed money will be placed. Don't back down on this.

(2) Your escrowed money is for certain purposes ONLY. Contact a realtor or attorney to find out those purposes. Know the law and your rights BEFORE you sign.

(3) Take photos of any defect in the property and have your landlord acknowledge they exist. Don't blindly sign that the property has no defects. Insist on a walk-through PRIOR to signing.

(4) Check out the landlord. Ask tenants in the building about him. Do your research BEFORE you sign.

This is a very short list. The main thing to do is to contact a competent realtor or attorney and understand the contract.
... more
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Thu May 2, 2013
Alan May answered:
it's a scam. run, don't walk, in the opposite direction. Whenever they want you to Western Union money to a landlord you haven't me, for a house that you haven't been inside of.... it's a scam. ... more
0 votes 9 answers Share Flag
Wed Mar 7, 2012
Fred White answered:
Your two questions go hand in hand. One of the major pitfalls is how long it can take. The other pitfall is that it's possible not to happen at all.

Basically, you make an offer and the seller has to jump through all the bank's hoops in order for the offer to get accepted. The bank will not accept an offer that is too low, and the seller and the bank have to deal with what is done with amount that is "written-off" or due to be paid off at a later date. A lot of this involves calling the bank on a regular basis and communicating with the other part of the bank that is foreclosing on the house.

One common mistake is that someone tries a short-sale, just because the house is not worth what they mortgaged it for. This can't be done unless there is a hardship like a death, loss of employment or a divorce.

As a buyer, you will be dependent on the seller's ability to put together a proper short sale packet and their ability to work with their bank. If you like control over a situation and need a house in a certain amount of time, a short-sale is NOT for you.
... more
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Thu May 17, 2012
Joe Hayden answered:
That's funny you asked... I'm updating that page on my site now... Please see the link. You can also read a few blog posts on real estate education - ... more
0 votes 8 answers Share Flag
Mon Mar 5, 2012
Ronnie Bramer answered:
If you are going FHA you can ask the seller to pay up to 6% of the sales price in your closing cost. As far as actual fees each bank mortgage can vary in each region of the country . Could be anywhere from $300 to 1800. You just need to shop and compare.
Some lenders or Loan Officer may waive or pay some of the smaller lender fees. You can also get a lender credit with a slighlty higher interest rate.
good luck
... more
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Mon Sep 23, 2013
The Oatley Team answered:
The most important item I would suggest you can do is have a professional stager or realtor come by your home and give their thoughts. Staging a house is important for photos as well as buyers who walk in. You want each room to be in their best light and appear spacious. Please let us know if we can help you further. Thanks!
Laura N. Oatley
The Oatley Team
Keller Williams Realty Louisville East
... more
0 votes 11 answers Share Flag
Mon Mar 5, 2012
Brian Taylor Clark answered:
There are always going to be things that arise, whether you are a first-time home buyer, or a seasoned vet. A good agent will help minimize and mitigate these items, but no transaction is truly seamless. Things that come to mind are first budgeting. You really have to sit down and figure out what you are truly comfortable spending house payment wise, after you've added up all of your other expenses. All of the little things, entertainment, lattes at the coffee shop every morning, gas, etc. add up, and you have to include them to get an honest picture. No one likes being house poor! Proper preparation and budgeting is just one aspect of how to make your first time home buying experience a positive one. ... more
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Fri Feb 24, 2012
Suzanne MacDowell answered:
There are a lot of factors that go into getting approved for a mortgage. Really the only one who can tell you is a mortgage lender. I don't mean a big bank, but a bank that specializes in writing mortgages. They will look at your particular situation and tell what you can do today, and if not today, when and what you need to do to qualify at some point in the future. They will even give you an idea of when that future date might be. There may also be programs available for first time home buyers, grants and down payment assistance and so on, that they are aware of that may benefit you. If you don't know a lender, call a real estate brokerage and ask to be referred. Realtors will be happy to help in hopes that when you are ready to buy you will reward them by allowing them to act as your buyers' agent.

Good Luck and let us know how it goes!
... more
0 votes 2 answers Share Flag
Sat Mar 3, 2012
Mary Bishop answered:
Usually " subject to" ... are short sales. In this instance properties are in preforeclosure and are subject to the seller's mortgage co agreeing to take less than what is owed on the property. If you would like more information about the real estate market here in Ky, I would love to help you. I can help you find your new home. Call me anytime at 502-905-8121. or e-mail me at Thank you! Mary Bishop - Real Estate Marketplace ... more
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Sat Sep 21, 2013
Michael Thacker answered:
I LOVE open houses on Sundays! I go to them even on days that I am not "working"!

Great question!

0 votes 2 answers Share Flag
Sat Feb 18, 2012
Cammianne answered:
Bad credit, mostly, LOL.

We're currently renting and love the neighborhood, so we'd like to stay here. We found a home we like, but it's in pre-foreclosure. We haven't had much luck with the bank (BOA) because of the pre-foreclosure status. They told us our best bet would be to contact the owner. We've done a lot of research and have discovered the owner died a couple of years ago, out of state. Before he moved, he got divorced and the wife filed bankruptcy. We located his father who stated that because of the large amount of debt owed, no one wanted to become executor of his estate. We're pretty much stuck at this point, but not sure if we would have been able to afford the house anyway.

We like the above house the best, but again, kind of in limbo with that. There's another house being offered by Fannie Mae down the street that we've looked at. The last selling price back in 2006 was $80,000, Fannie Mae is asking $161,500. Again, like the first one more, so not sure if we even want to offer on this 2nd one.

We rent and our lease will be renewing soon. We've been in this rental house for 2 years and pay about $925 a month, if I'm not mistaken. Neither my husband nor myself have good credit, although we've always been great renters, LOL. Also, I'm a vet and have never used my VA loan, so I have that still.
... more
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Wed Mar 7, 2012
Oggi Kashi answered:
Out here in SF Bay Area it seems that way. Prices are high and most 1st-time homebuyers can't afford to work on the property after purchase. That makes move-in-ready properties much more attractive.

Oggi Kashi
Broker Associate, Paragon Real Estate Group CA DRE 01844627
All data from sources deemed reliable but subject to errors and omissions, and not warranted.
... more
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Wed Feb 1, 2012
Mary Beth VanMeter answered:
I agree with the three items you selected. Three things that I believe help me stand apart from other agents, prompt professional communication, educating the client as to what to expect before any issues arise, being willing to reach out to the cross selling agent to solve problems and negotiate a contract so that it will close. ... more
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Tue Jan 17, 2012
Christopher Eagan answered:
What house?
No address here-

Allison Scott-Eagan
Eagan Team Realtors
Distinctive Property Specialists and
Real Estate Investment Consultants
Accredited Platinum Real Estate Professional, APREP

24/7: (502) 634-8001
Direct: (502) 649-7894
FAX: (502) 416-0663
Eagan Team - RE/MAX Metro
... more
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