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52801 : Real Estate Advice

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Activity 36
Tue May 19, 2009
Chris Mabry SRS,e-PRO answered:

Depending on the age of your bankruptcy you may be able to qualify. There are several factors including current credit, income, employment, debt, down payment, etc. You need to contact a local mortgage broker to ask them about your specific situation. ... more
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Tue Feb 3, 2009
Carol Rice answered:

I just checked MLS for houses that are actively for rent in Davenport with a minimum of 5 bedrooms and found 20 houses. The monthly rent prices for 16 of the houses range from $1,300 to $1,800. Of course, the location, condition, and amenities (community pool versus backyard pool) will all come into play.

Re: Are there many rentors?
Are you looking for short term rentors or long term (year lease)? You could contact a Property Management company. Be careful because they are selling you a service. They will say they will keep it rented, but ask for statistics or specifics.
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Sat Apr 4, 2009
Dallas Texas answered:
The property if it below market value could be a foreclosure, have your buyers agent investigate more on your behalf. OR the builder may have to "dump inventory" with any further financial problems. Keep in mind you can submit an offer have inspection take place to confirm the property is in good standing w/o any additional future problems.
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Fri Oct 31, 2008
Emily Erekuff answered:
Hi Ainsley,

Did one of the maps shown on our site prompt this question? If so, can you let us know what page you are looking at so we can attempt to assist you?

Thank you,

Emily Gibson
Community Moderator
... more
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Sun Jan 25, 2009
Vicki Maselli-Shoop answered:

You will want to select a competent loan officer with a bank, credit union or mortgage broker and start the pre-approval process for financing now. In addition, if you haven't found or selected one yet, you should hire a buyer's agent to represent you in the transaction.

Melissa suggested considering bank-owned properties. I recommend that you also consider purchasing a home that is being marketed as a short sale. The process often requires more time and patience; however, the savings can be tremendous for the consumer.

Best wishes - Ted
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Wed Sep 3, 2008
Hey Jesse,

You're in a position many Iowans are facing right now. The advice I would give you would be subject to a few questions.. but I'm going to do my best to give you advice based on what's best for your long term plans.

IF you were to short sale, you would be carrying the shortage (in most cases) after you sell the home. What that means is you'd be responsible for paying back the difference. If you decided to move forward with that, you'll still have some monthly expense to service that debt. I bring this up for one big reason.. it's similar to the renting scenario. If you rent, you also will have a monthly expense.

Without talking to you personally, it's tough to say what makes most sense - but IF you can handle being a landlord, renting makes a lot more financial sense. You'll have tax advantages that a short sale will not offer.

If you'd like to discuss these options, please feel free to contact me.

Thanks again!

Tyler Osby
Certified Mortgage Planner
Four Legacies Mortgage
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Thu Apr 3, 2008
Carol Wilsey answered:
It depends on the area you choose, Raymond. But, prices have not been this low in ages (I have been in Florida for almost 20 years). And, of course, working with a good Broker who represents YOU is important, too. The old adage about LOCATION, LOCATION, LOCATION means much more than just the area of Florida, but the town, the community, the amenities, and the views. There is a lot to choose from, so having someone perform the due diligence for you will get you the most for your money. And, some markets, like Naples, are still holding their own in terms of volume and prices in certain neighborhoods. That is a good sign of a place strong enough to weather the storm! ... more
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Sun Jan 25, 2009
Michael answered:
Hi Lee,
I believe the way the market is right now that house is a better resale. The price of homes have drop so much that they are very attractive. Condos are attractive when the price of houses are rising. I know in my area (Modesto, CA) house and condos are very close. Then you have to think about the Home Owners Association (HOA) fees. This can take a reasonable mortgage payment and push it higher than a payment for a single family residence.

Let me tell you; I own a condo that I bought last year and I have seen its value drop by 45%. I can buy a house for the sale price as my condo. Go for the house everytime.
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Sun Feb 17, 2008
Phil Cruickshank asked:
Can some one advise on monthly cost to keep my home ready for use, taxes, up keep by gardner , pool cleaner and pest controll.. anything I have not mentioned.
Is $1000 a month real...
0 votes 0 Answers Share Flag
Wed Aug 26, 2009 answered:
If the home is in a rural Development, we have a prgroam for you. Please contact me for futher details.

Maria A. Cranston
Loan Originator
THE National Bank, Davenport IA
563-823-3421 (office)
563-579-4832 (cell)
... more
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Sat Sep 3, 2011
Richard Gataveckas answered:
No, everybody can buy Real Estate in US (including foreclosed properties). It would be more complicated if you need a loan from US bank.
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Mon Jan 14, 2008
Dirk Knudsen and Kirra Krussman answered:
Well they could to the exent there is a lot of them and the area is noisy with lots of interim tenants. Otherwise I say no. My beach home, which I no longer have sadly, was really one of the best rentals we had. It did not always throw off quite enough cash to pay for itself but it was close.

In Oregon the beach is only a hot spot in the Summer and fall anyway. So it worked for us. Our neighbors complained a few times as we had a group or two get out of hand but we had their VISA cards and hit them for damages where we could. It was good fromt he standpoint that we used it as a vacation spot for us too.

So I say no. There is a demand for this type of property form other owners and I think in most markets the short term rental zoning or designation brings with it a slight premium investment element. Better make sure if you are zoned for this as it is often the case that there is special zoning for such things!

Great question.... good luck with that.

Dirk Knudsen
Re\max Hall of Fame
#1 Rated Team in Oregon
"The Real Estate Doctor"
... more
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Thu Nov 19, 2015
Carol Andres Baer, Realtor® answered:
Here's a link for the state of Florida for their first time buyer program. I would also check the county websites for the locations you mention to see if there is any information available on their websites. If you can find a lender list at this Florida link, the lender may be knowledgeable if there are any county programs available. ... more
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Tue Jun 17, 2008
Laura Reynolds answered:
I am currently working with several investors in Davenport. My experience for short term rentals is searching near one of the area schools. I have had great luck finding investment property near Palmer College of Chiropractic and St. Ambrose in Davenport, and Augustana area in Rock Island. There is always a steady flow of students and the vacancy rates are great especially on the Iowa side. Also, I have one investor that looks for rentals near both Genesis East and Genesis West hospitals and has great luck finding tenants. Hope this helps! ... more
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Sun Sep 30, 2007
Colin Stafford answered:
Hi Tim

What type of details are you looking for? For example:

As of today, there are 28 Aviana properties listed for sale on the MLS. The least expensive is a 4/3 1935 Sq Ft pool home for $269,900. The most expensive is a 5/4/1, 2827 sq ft pool home for $509,000. Fifteen contract have closed this year, ranging from $328,000 to $499,000. Some of these homes are Park Square and some could be Meritage properties.

These are all resale homes. Are you interested in new properties?
... more
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Tue May 6, 2008
Laura Reynolds answered:
Hi Tracy!
There are a lot of great areas for you here. I don't know exactly what you are looking for, but I know that around both hopitals (Genesis East and Genesis West) are desirable. The fastest appreciating subdivision in Davenport is called Glen Armil which is near Genesis West, and is sandwiched between 2 great parks. There is also a great area near Northpark Mall. It would depend on price, and what you are looking for, but Davenport if great and I have raised 2 boys here! Hope you find this helpful! ... more
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