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
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
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 wouldnâ€™t worry too much about the credit pull, you canâ€™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
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.
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.
Ray Kuehl & Assoc. Realty... more
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
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.
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.
Donna Birschbach - The Birschbach Team
Keller Williams - Madison... more
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
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
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
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