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44333 : Real Estate Advice

  • All5
  • Local Info0
  • Home Buying3
  • Home Selling1
  • Market Conditions0

Activity 143
Tue May 24, 2011
Dan Tabit answered:
Carmar,
It's anyone’s guess. If the listing agent did their job well, tried to get more for the house and dropped the price at reasonable intervals you can't do more than you did. If the bank does not accept your offer, they may counter. At that point the decision will be yours. ... more
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Tue Jan 28, 2014
Phil Rotondo answered:
For veterans, please check with USAA to see if you will qualify.
You can go to their website at http://www.usaa.com or call them at 1-800-531-8722
0 votes 5 answers Share Flag
Wed Dec 1, 2010
Anna M Brocco answered:
Much will depend on your contract/agreement--review the document as the answer can be found in it--also consider consulting with an attorney who specializes in real estate, have all documentation reviewed and see exactly what options you may have. ... more
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Sun Mar 27, 2011
Martin Botnick answered:
Did you mean GROSS return or NET return? Marty Botnick Realtor, Howard Hanna

Martinbotnick@msn.com
0 votes 0 Answers Share Flag
Sat Sep 14, 2013
Anna M Brocco answered:
Not knowing your overall financials, credit score, debt, income, etc.; consider visiting with any qualified loan officer(s), after reviewing your overall financial picture, he/she can make a determination as to qualification--then go from there. ... more
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Wed Oct 20, 2010
Anna M Brocco answered:
Much would depend on your overall finances, credit score, actual equity, etc. Consider visiting with any qualified loan officer(s), after reviewing your overall finances, he/she can best advise; however, do keep in mind that you, the borrower, need to consider the economic factors of your lifestyle that would impact on your individual comfort level of affordability. A mortgage outside your budgetary constraints can dramatically alter your overall living conditions. So, be sure to factor micro and macro economic concerns into your mortgage amount deliberations. ... more
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Tue Dec 27, 2011
Kevin Olson, Jessica Laude answered:
Banks will not do owner finance or rent to own. If you are considering one of theses terms I highly suggest getting an attorney to oversee things on your end to make sure you are getting into something safe while at the same time realistic and manageable. ... more
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Thu Oct 14, 2010
Mike Walker answered:
Financing a home purchase can be a challenge in this market in this price point. One option you might consider is to take out cash from your principal residence in the form of a home equity line of credit. Essentially you'll be able to purchase the investment property for cash and you'll have the funds available for repairs. If you take a loan out you're probably looking at a minimum 20% down payment. Hope this helps. ... more
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Sat Sep 11, 2010
Don Tepper answered:
See a lawyer and have him/her draft an agreement. That--if properly done--will take care of most or all the problems you might encounter down the line.

I'm not a lawyer, so this isn't legal advice. But in typical home purchases you'd probably be talking about tenants in common as the type of ownership. That type is divisible, and specifies the amount each person owns. So, if one owned 60% and the other owned 40%, then either could sell his/her portion to someone else. And, using your terminology, I guess the 60% owner would qualify as your "primary" owner. However, ask your lawyer whether another form of ownership--such as an LLC--might be more desirable. That's especially the case if you're thinking of using it as an investment property in the future.

But you need someone to sit down and determine the value that each of you brings to the transaction and, thus, the ownership percentage. You also need procedures in place if one of you wants to sell his/her interest. Or if both of you want to sell. Or if one wants to sell and the other opposes it. And your agreement should also specify who's responsible for what expenses. These aren't difficult issues if addressed up front. But it can get awfully messy if they're not, and you confront them only when there's a problem.

So: Best route to take is to talk to a lawyer about how to take ownership, how to handle the property during ownership, and the various methods of disposing of the property.

Hope that helps.
... more
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Thu Sep 9, 2010
Thomas McCombs answered:
Generally speaking the future looks about like the present. There are a lot of houses on the market now, and many more waiting for any signs of increased buyer activity.
We just have to remember that, while sellers are not getting what they would like to get for their existing homes, they can make it up on the house they are going to buy to replace it.
Prices go up and down together, so there is no advantage to waiting to sell or to buy.
In the meantime we do not want to let the opportunity presented by these extraordinarily low interest rates pass us by.
... more
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Thu Jan 20, 2011
Elizabeth Newcomb answered:
Unfortunately, not much. A basement remodel, unless the basement is a walk-out, only increases the marketability of the home. You can't charge for square footage below grade. The good news is that you didn't spend a fortune and that finished basement will likely set you apart from the other homes on the market in your area, should you decide to list. The additional bathroom in the basement, is a plus. Hope this helps!

Elizabeth (Beth) Newcomb
Howard Hanna Real Estate Services
330-687-4394
... more
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Thu Feb 10, 2011
Mike Walker answered:
That's a great question. Sometimes allowances work but oftentimes they don't. It is hard to change first impressions - so, if you can minimize any objections your home has, you improve your chances of selling quicker and for a higher dollar amount. $3500 is not pocket change either, so you have to look at whether that investment will help your home sell quicker and will you be able to recoup that investment. Alternately you can adjust the price of the home or consider carpet (just be sure to let new buyer know of the the condition of the hardwood floors).

Mike Walker
Keller Williams Realty Greater Cleveland SW
330-571-2020
... more
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Sat Aug 14, 2010
Mary Starkey answered:
Yes, it should be and is a requirement for FHA approval for a loan.
0 votes 3 answers Share Flag
Fri Jul 2, 2010
Frank Ruzicka answered:
You answered your own question when you stated "we are not planning on moving any time soon". Bottom line; you should make the home more comfortable. You go on to say that a 4 bedroomd is rare in your neighborhood simply reinforcing the move to a 3 bedroom. Make the change and enjoy your upgraded bathroom! Your market value shoud not suffer assuming a quality job is performed. ... more
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Wed Jun 30, 2010
Susy Renoz answered:
In Canada we use postal codes. You can try the site http://www.zoocasa.com - you can't enter in postal codes, but you can search by city and drag around the map in different areas - there are some stats & demographics if you click on the "local info" tab ... more
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Wed Nov 20, 2013
Anna M Brocco answered:
If you are concerned about safety, your best source of information is the local police department, why not visit/call and ask all your questions--Federal Fair Housing Laws, prevent an agent from answering--visit a neighborhood several times to get a sense of belonging. Check out area statistics; real estate professionals are prohibited from “steering”—enticing a buyer to purchase, or not, in specific neighborhoods; so, you should check out demographics on your own to assure your comfort level can be reached. ... more
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Wed Nov 30, 2011
Jim Dvorovy answered:
Hi Rebecca,

A great resource for you might be to log in and create a post explaining the specifics of what you are searching for on CraigsList. Once on craigslist, use the menus and work your way to "Ohio", and then "Cleveland", and perhaps "housing wanted". (You may want to create a new and separate yahoo or hotmail or similar email account and have all the replies sent there, in order to keep from getting too much spam for your confidential email address.) The address for Craigs List:

http://cleveland.craigslist.org/

Thanks,
Jim Dvorovy
Cutler Real Estate
203 Applegrove NW
N. Canton, Oh 44720
Cell 330-685-4615

Web Reference: http://www.jdvorovy.cutlerhomes.com
... more
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Wed May 5, 2010
Barb Sabo answered:
My name is Barb Sabo I have been a licesed Realtor for 22 years and have experiece in the short sale process. I am with Stouffer Realty and would welcome further discussion with you. Thank you. Barb Sabo 330-620-5484 cell www.BarbSabo.com Barbsabo@neo.rr.com ... more
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Wed Mar 31, 2010
Anna M Brocco answered:
Are you referring to the first time buyer credit--see link below--
www.irs.gov/newsroom/article/0,,id=206291,00.html
Keep in mind that for any tax related questions your best source of information is your tax professional ... more
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Tue Mar 23, 2010
Gerard Dunn answered:
Replacement value has no bearing in this market.

Appraisers are bound to deliver comps that are as close to your home as reasonable. You can try with another bank - but I suspect you will still under-appraise.

Check with a Realtor to see if there are other comps that are recent and close to offer to the appraiser.

Good Luck!
... more
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