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55443 : Real Estate Advice

  • All7
  • Local Info1
  • Home Buying2
  • Home Selling2
  • Market Conditions0

Activity 482
Thu Jan 24, 2013
Kevin and Julie McLaughlin answered:
Speak with your lender and ask for a payment comparison - specifically look at the mortgage insurance you will be paying because you aren't putting 20% down.

Good Luck!

Kevin McLaughlin, Broker Owner
Berkshire West Realty
Murrieta, CA
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0 votes 10 answers Share Flag
Sat Nov 25, 2017
Miekeba Jones answered:
Hi Farm.coleman, Your lender or a financial consultant may be able to help you.
0 votes 19 answers Share Flag
Mon Jan 7, 2013
Albi answered:
Generally, you should list the lots independently, but in the remarks section of the listing mention the possibility of purchasing both. The city would have to approve of combining the lots if the buyer was planning on putting the new structure across property or setback lines. Additionally, there may be covenants or restrictions in the neighborhood that may prevent this as well. I represent a custom luxury home builder in the Metro and may have clients interested in a project like this depending upon where the lots are located and pricing. Give me a call if you'd like to discuss this in depth. Hope this gives you a good start... ... more
0 votes 13 answers Share Flag
Thu Dec 5, 2013
Kevin Bumgardner answered:
Hello Amber,

Five to 10 years is the average time one typically owns a home before moving again. Typically, your selling expenses will be small enough that you can still show a profit. Many others believe that is a sufficient time to leverage these great interest rates and hopefully see a modest return on your investment. Especially in the under $250K range, it is more likely that home bracket will see better appreciation that the upper brackets.

If you put $20K down a $200K home, and in 5 years the home appreciates at 3% per year (by the way this last year the average was 7%) then in five years it'll be worth $230K. Subtract the original value and you've ROI of $30K on top of your investment of only $20K. Granted this is simplified not to include mortgage payments (which are substituting your rent) and any improvements. But where else can you turn $20K into $50K in only 5 years?

Hope this is helpful.

Kevin Bumgardner
Counselor Realty, Inc.
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0 votes 21 answers Share Flag
Tue Apr 16, 2013
Tom Schwartz answered:
0 votes 19 answers Share Flag
Sun Apr 6, 2014
David O'Neil answered:
Those are some fairly complex questions. There are some FHA programs that might you might be able to use however, I would need a little more info from you with some more specific numbers on what you are looking to purchase. As far as the tax info is concerned, that is not a very accurate assessment as to the current market value of your home. Having a market analysis done by a realtor would help find the number your home will sell for in the current market.
If you would like to have a more in depth private conversation on this, please give me a call.

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0 votes 23 answers Share Flag
Tue Apr 16, 2013
Matt Brown answered:
Hi Alex,

It is possible to qualify for a loan given your current situation. Even though Wells Fargo will not approve your fiance that does not mean that another lender won't as well. We need to get you in touch with a loan officer that can look at your financial health and give you the steps that need to be taken in order to qualify if they can't get you approved right now. Feel free to contact me anytime and happy house hunting!


Keller Williams Integrity
2680 Snelling Ave N, #100
Roseville, MN 55113

Office: 651-203-1700
Cell: 651-343-3304
E-Fax: 651-340-4072

Visit one of my websites below or see me at
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0 votes 6 answers Share Flag
Wed Jan 2, 2013
David O'Neil answered:

There are definitely some options out there and we are starting to see a few more houses come on as we move closer to the spring. Give me a call or email and let's discuss in a little more detail.

Dave O'Neil
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0 votes 7 answers Share Flag
Sun Jan 6, 2013
Lisa Staplin answered:
Everyone has their own opinions and comfort levels when considering the frequency and kinds of events that happen in various areas.

The best place for information is the local police department. Their reports will the least biased and most accurate. ... more
0 votes 8 answers Share Flag
Tue Apr 16, 2013
Shanna Rogers answered:
Hi tdwilliams232,

You can buy several houses - as long as you have all cash or can qualify for all loans.

Shanna Rogers
SR Realty
0 votes 13 answers Share Flag
Tue Nov 26, 2013
Michelle Gonzalez answered:
It can be possible. Why is your credit poor? If you owe collections, you may be required to pay them off before the lender will allow you any credit.
0 votes 6 answers Share Flag
Sun Dec 9, 2012
Mike Kelcher answered:

Here's a few things you should know. This property is bank-owned and sold "as-is". For some reason, it's not currently available for showing at this time...but I'd be happy to show it to you as soon as that changes, if possible. Call me to set that up.

As for the crime rate... Realtors aren't the experts when it comes to that type of thing and so we don't give advice outside of our area of expertise. We do however refer people to the experts. I won't guess about such things...but the police are relative experts on such things. The info on this link might help.

If you would like to see that home, or if I can help in some other way, call me. 763-228-2967 ~mike
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0 votes 4 answers Share Flag
Wed Dec 12, 2012
Stephanie Gruver answered:
Hi Marlene - I'm not sure what you're asking here - feel free to contact me and I'll do my best to answer any questions you may have.


Stephanie Gruver, Realtor
RE/MAX Results
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0 votes 1 answer Share Flag
Wed Dec 5, 2012
Fred Glick answered:
Sorry Dobie,'

That is impossible under today's credit standards.
0 votes 4 answers Share Flag
Wed Mar 1, 2017
I could look at it, but keep in mind with the 617 credit score everything else is going to be scrutinized by an underwriter. You need to have NO job gaps in the last 2 years, you are going to need to have at least 3.5% of your own funds to put down that have been in an account for at least 2 months, you will need to prove you have paid rent for the last 12 months on time, they may ask for cable, cell and utility bills. There is a super high risk of default the lender will take buy closing your loan, so the underwriter will be critical of the file. If you are OK with this call me 612-516-5626. ... more
0 votes 13 answers Share Flag
Mon Jan 9, 2017
Lenny Frolov answered:
Yes the requirements still apply regardless if you paid cash or got financing. HUD accepted your offer based on the assumption you will occupy, they may have went with a different offer if you were not intending to occupy. ... more
0 votes 18 answers Share Flag
Fri Feb 13, 2015
Mark Claessens e-Pro NHSS answered:
As an expert on this, Patrick, I am confused and this doesn't make sense. If there was a sheriff sale, and it really took place, your senior lien holder would now have a sheriff's certificate showing that they bought the house back, and they would have a price on there and they would also be able to tell you the redemption date. And that would be 182 days from the sale date.

For them to say "it went back to the bank" does not make any sense. So .....

Call your bank, ask for Loss Mitigation, tell THEM that you want to know the foreclosure status of your property/loan, and they will. That part will be simple. You may be transferred to the "recovery department" or "foreclosure department", or something liket that. But you will get your answer in a heart beat.

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0 votes 12 answers Share Flag
Thu Jul 17, 2014
Maria Cipollone answered:
You are responsible for whatever the agreement was between you and the buyer. Contact your real estate agent and ask him/her to review your sales contract and tell you what are your obligations in this case.

Best of Luck,

Maria Cipollone

Century 21 Tenace
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0 votes 14 answers Share Flag
Sun Oct 15, 2017
Maria Cipollone answered:
Shop around for a real estate agent and ask them to provide you with a market analysis of your area and what kind of price you can get for your property. After interview several agents tell them how much you are expecting to make from the sale of your house and ask them to calculate how much will be their comission after you get the gross amount that you need to get on with your life. All comission are negotiable. You just need to find a likeable agent that will work to sell your home.

Best of Luck,

Maria Cipollone
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0 votes 7 answers Share Flag
Tue Oct 30, 2012
If you can get the loan down to $417,000 you will have a better loan and more options. This would require more than 5%.
0 votes 9 answers Share Flag
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