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53719 : Real Estate Advice

  • All8
  • Local Info1
  • Home Buying2
  • Home Selling1
  • Market Conditions3

Activity 177
Sun Apr 15, 2012
Bill E answered:
Yes. Absolutely. Positively. Without a doubt the best possible neighborhood.

Close to everything. High Walkability Factor. Hardly any graffiti, next to no gangs, barely any drugs, rarely a drive-by. The rendering plant has been shut down and the recycling operation only runs after midnight. ... more
0 votes 4 answers Share Flag
Thu Apr 12, 2012
Gail Rutkowski answered:
You relocation is a hardship and there is the HAFA program (Home Affordabiity Foreclosure Altnernative) program that may be available for you. Talking to a (CDPE) Certified Foreclosure Prevention Expert to find out about all your options to avoid foreclosure and work this out so that a foreclosure does not effect your credit and future home buying options.

Gail Rutkowski CDPE, Gail@C21Affiliated.com, 608 345 8737
... more
0 votes 7 answers Share Flag
Sat Mar 31, 2012
Tom Mikel answered:
http://www.homeimprovementco.biz/

The owner Mike McManamy should be able to help you.
0 votes 2 answers Share Flag
Thu Mar 8, 2012
answered:
It sounds like the lender rejected the application, they are supposed to send a statement of denial to the address you listed on the application. I wouldn’t worry too much about the credit pull, you can’t get it removed, nor should it be, it is what it is. Have your Realtor introduce you to the loan officer they trust the most, make an appointment to have your credit pulled and reviewed face to face. Hope it works out for you, good luck, ... more
0 votes 5 answers Share Flag
Sat Feb 4, 2012
Keith & Kinsey Schulz answered:
Here's my thoughts on the Madison, WI area: http://wp.me/p1dbYY-7V I think we'll see some improvement in pricing and sales this year. :)
0 votes 9 answers Share Flag
Sun Jan 22, 2012
Robert D Hughes answered:
Dreamer, money is what holds it all together. In addition if your deposit is large enough you would be sending a subliminal message to the seller/owner you are a serious, pre-approved and willing buyer. That means a lot to a seller who is also making moving plans. Knowing that unless something unforeseen happens they can count on that transaction closing.

Check with your representative the best way to approach this property. Also writing a personal note/letter to the owner stating how much you want their home, but can not pay their asking price can go a long way dreamer. Sometimes a seller wants to be pleased overall with the next owner of their home. It isn't only money.

Best of luck,

Rob
... more
0 votes 1 answer Share Flag
Wed Jan 4, 2012
Marge Tessner answered:
It's a little bit of a mixed bag. In general, though, I would say that living within walking distance of an elementary school is often a good thing. If the next buyer doesn't have, or doesn't like children, then the proximity could be a negative. I have personally worked with clients for whom proximity to an elementary school was a very good thing. Good luck with your purchase.

Marge Tessner
Broker Associate
Ray Kuehl & Assoc. Realty
... more
0 votes 3 answers Share Flag
Wed Jan 4, 2012
Bern McGovern answered:
It shouldn't affect it too much. Yes, it may be a little less desirable then one that's a few blocks away from the elementary school but chances are the way the housing market is now it has no where to go but up. Hope that helps and good luck in your search. ... more
0 votes 6 answers Share Flag
Wed Dec 11, 2013
Margie Casey answered:
Dear Paul,

Your thoughts make financial sense however the selling agent typically represents the Seller and NOT YOU. The agent in most states is not authorized to conduct themselves as a Dual Agent. Please seek legal advice before you go to contract, especially if you are not represented by a Buyers Agent looking out for your interest.

Good luck,

Margie Casey
Founder
... more
0 votes 39 answers Share Flag
Thu Dec 29, 2011
Rick Lyngaas answered:
Usually about three months in front of when you want to move in.
0 votes 2 answers Share Flag
Mon Jun 26, 2017
Jean Armendariz-Kerr answered:
Hi Cody, One of my preferred business partners does USDA loans - you can find him in my top pro's section here. His name is Joe Long from Waterstone Mortgage. Great guy, great lender. ... more
0 votes 12 answers Share Flag
Tue Nov 22, 2011
Jon and Donna Birschbach answered:
Hi Noah,

I sounds as if you have already done your homework. Obviously, if the property is of value to you financially and personally perhaps you should go with your instinct and purchase it. Unless you have already done so, I would also have a professional/licensed inspector look over the propery. On anohter note, becoming a land lord does have pros and cons attached to it. You may want to spend a little time researching your responsibilities in that area prior to moving forward. Tenants can be wonderful but they can also add additional stress and responsibility to one's daily routine. And because of this, I would make sure you have some reserves set aside for unexected expenses.

Good Luck
Donna Birschbach - The Birschbach Team
Keller Williams - Madison
... more
0 votes 12 answers Share Flag
Thu Nov 29, 2012
Marie Souza Team answered:
Kim - ALWAYS buy a 2 bedroom over a 1 bedroom, way better for re-sale.
The Marie Souza Team - Top Selling on Cape Cod
Cape Cod Real Estate Services
Phone: 508-790-2000
info@mariesouzateam.com ... more
0 votes 16 answers Share Flag
Fri Nov 18, 2011
Steve Comfort answered:
Yes, it's called a backup offer. However, not all sellers accept backup offers, so have your agent check with the listing agent to see if the seller will accept backup offers. If your offer is accepted in backup position you will be next in line to purchase the home should the first offer fall through. I hope you find this helpful. ... more
0 votes 14 answers Share Flag
Wed Nov 16, 2011
answered:
After you purchase a home lenders usually want you to own the home for a certain amount of time, called "seasoning", before they will use an appraised value that was higher than your purchase price. Typically that seasoning period is 12 months. However keep in mind that Fannie Mae & Freddie Mac, who back the conforming loan programs that lenders make, do not have any seasoning requirements, so the time you must own your home will be solely determined by the mortgage lender you are applying with ("overlay" guidelines they are called).

However taking cash out of your home's equity is usually capped at 80-85% of your home's appraised value, not to 100% of your home's appraised value, so even when the new value can be used it may not be able to get you the cash out you are thinking.

However if you are looking to get funds to renovate a home you should look into purchase the home with an FHA 203(k) rehab loan or Fannie Mae HomeStyle renovation loan program. Both will finance the cost of improvements into your loan, assuming the "as completed" appraised value supports the funds you need to purchase + renovations.

Extensive info on FHA's 203(k) rehab loan: http://www.hud.gov/offices/hsg/sfh/203k/203kabou.cfm
... more
0 votes 8 answers Share Flag
Mon Aug 1, 2011
Scott Godzyk answered:
Here in NH home sales are steady, condos have taken a large hit in prices as Single Families became more affordable, condos priced at or below market value are selling at a good pace. NH has one of teh lowest unemployment rates in the country, relocations are very strong as people move here for work. ... more
0 votes 1 answer Share Flag
Mon Dec 22, 2014
Suzanne MacDowell answered:
In my opinion, no, not if it is well above market. If it were only slightly above market, and your superior marketing could somehow point out the qualities of this particular home that makes it worth just a little more than its competitors, then, maybe, yes. What superior marketing CAN do is get more exposure and thus a quicker time to sale.

I see far too many realtors taking over priced listings, and I am guilty as well. I have, from time to time, taken them in hopes of picking up buyer leads, or after having said to the seller, "Look, my job is to get you the most money possible for your home, but the market sets the value, not me. We'll try it at this price, but, if we market the home aggressively, with my 'superior marketing plan' and we still get little or no activity, and no offers, then we are going to need to lower the price." If they will agree, up front, to that, then on occasion I will take the listing anyway. But I will add, with mixed results. Most of the time it is a waste of MY time and time is money!
... more
0 votes 16 answers Share Flag
Sat Oct 8, 2016
Don Tepper answered:
No. Not easily, anyway. I'm sure some mortgage broker out there has something--a really non-conforming loan--that they can provide.

But if you have a good job and good income, you shouldn't have any problem raising your credit score to an acceptable level. ... more
0 votes 9 answers Share Flag
Sat Jan 14, 2012
Vera Gonzalez answered:
Mom's House,

If you love the house it does not matter. The deals are great from all sides private, etc. It is up to the consumer.

Good luck

Vera
0 votes 16 answers Share Flag
Wed Aug 17, 2011
Michael Emery answered:
Absolutely. If the owner has had difficulty selling, they might consider renting it out. The agent might also have knowledge of other units in the building that may be available for rent. ... more
0 votes 6 answers Share Flag
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