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60490 : Real Estate Advice

  • All9
  • Local Info0
  • Home Buying5
  • Home Selling2
  • Market Conditions0

Activity 47
Wed Apr 17, 2013
Geoff Ommen answered:
Generally speaking no. Foreclosure homes in that price/condition rarely qualify for a loan. You need to speak with a mortgage broker to understand what your best opportunities are for home ownership.

Geoff Ommen
Broker Baird & Warner
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0 votes 1 answer Share Flag
Tue Apr 9, 2013
Geoff Ommen answered:

Unfortunately this property actually went under contract yesterday (4/8). It had been on the market for a long time too. Just bad timing on your part. If you are serious about buying this property, it would be important to set up a showing quickly. Let me know if you would like me to arrange something. Clicking on a Trulia link is not going to get you were you want to be.

Geoff Ommen
Broker Baird & Warner
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0 votes 1 answer Share Flag
Tue Mar 19, 2013
hjawicki1920 asked:
Thu May 2, 2013
Deneen Ruffolo answered:
Hi Cmorley610,
I am an agent that has done more than half my business in REO properties. I have a certification in distressed properties and would look forward to sharing my knowledge with you.
Deneen Ruffolo
Realty Executives Midwest
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0 votes 4 answers Share Flag
Wed Feb 27, 2013
Cheryl Thomas answered:
Jeffrey, I currently have several listings in Montgomery and have sold many in Oswego & Montgomery. That would be a difficult question to answer without seeing the condition of the home, plus there are additional questions I would need answered. ... more
0 votes 3 answers Share Flag
Mon Feb 4, 2013
Keith Jean-Pierre answered:
Taxes on this property are $2372 a year. Good luck with your home search!
0 votes 1 answer Share Flag
Fri Apr 25, 2014
Abu Musa answered:
Sat Dec 15, 2012
Lisa Wenzel answered:
Hi there,

First I will direct you to which can give you an idea of Bolingbrook and amenities in the area. Secondly, you can find several sources online to help you research the Bolingbrook schools and if they are a right fit for you.

When searching for Nursing Schools in the area, I found several options. You might want to look for yourself. I know some larger schools offer a nursing program such as Lewis University in Romeoville, IL but there may be some more local, smaller locations as well.

Hope this is helpful!
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0 votes 1 answer Share Flag
Mon Jul 15, 2013
Sean Cochran answered:
Hi pink. Bolingbrook is a great city and very safe. It's like any other city we have our ups and downs but overall I would give us a 9.7 out of 10 for safety. If you are ever looking for a mortgage, please do not hesitate to give me a call. 630-330-2229 ... more
0 votes 4 answers Share Flag
Sun Nov 8, 2015
Peter Kedzior answered:
Most likely, this property has been repossessed by Fannie Mae but not listed for sale yet. Sometimes, it could be 6 months before foreclosed properties can be listed.
0 votes 4 answers Share Flag
Wed Aug 29, 2012
Ron Thomas answered:
From the time that the Listing Realtor gets the REO, is a couple days to a couple weeks;
you can could on it.

There really is no urgency on your part; being the first in line does nothing for you, especially in a hot market:
The Banks usually instruct the Listing Agents to hold all Offers for the first week, and submit them together.
You will have to have your Buyer's Agent do a CMA and put together a good offer; LOW BALL will not work; even if you are the only Offering.

Good lucj and may God bless
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0 votes 3 answers Share Flag
Tue Aug 7, 2012
Homeowner answered:
About 45 minutes to an hour
0 votes 1 answer Share Flag
Mon May 28, 2012
Suzanne Hamilton answered:
This is pretty standard language on corporate, bank or government owned properties. Some towns have village inspections prior to closing to ensure the home is ready for occupancy. The seller is probably just indicating that they have no intention to fix anything. This would be the buyer responsibility.

Also, if it is Romeoville, they are also looking for all work on the home to have a permit.
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Mon Feb 20, 2012
Jd Kaplan answered:
I do have a WEB site, however it only lists properties that are listed by realtors. A listing agreement is an employment contract. It spells out what services the realtor provides and the commission the realtor earns when they present an acceptable tenant to you.
If you are asking how to post your rental to our MLS, it must be listed by a realtor. The MLS is the realtors way to share your listing, prompt and advertise it with the real estate community to get the best results. Its all about exposure. Since realtors like myself deal with renters every day, we tend to constantly have a flow of people looking for rentals like yours.
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Sat May 19, 2012
Fred Glick answered:

The President yesterday announced a program that needs Congressional approval.

You can help yourself by making sure the legislators that oppose it know your situation.

Good luck!

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0 votes 4 answers Share Flag
Tue Jan 15, 2013
Ron Thomas answered:
If you had a problem with the purchase, would the selling price of the Condo mitigate your problem?
You can have prolems with ANY Real Estate purchase, including lawsuits.
You just want an Agent with the integrity to work through it.
You should get the same level of service.

Good luck and may God bless
... more
0 votes 9 answers Share Flag
Tue Sep 20, 2011
Bill Eckler answered:

Your concern for recently sold distressed sales in your neighborhood are real. They will have an impact on your home's appraisal but the degree that this applies depends on a number of factors including the appraiser, overall neighborhood, condition of the home etc.

If your local market is continuing to slide it would be reasonable to expect that the last regular sale nearly a year ago of $195,000 would be significantly less today. With only the information you have provided, it is reasonable to expect a window of between $150,000 and $190,000 ...... possibly under $170,000(a guess).

The thing to keep in mind here is that the those foreclosure prices had to be justified. This was likely accomplished by either broker BPO's or appraisals. If this is the case, it may be that the recent foreclosure numbers are closer to today's market value than you want to believe,

Good luck,

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0 votes 5 answers Share Flag
Tue Sep 4, 2012
Anthony Cavalea IV answered:
1) Rental. Are you getting market value for the rental? Is an agent helping you with it? Would you like me to check rental prices of similar homes in your area? (Please call or email me)
2) The refinance option. If your house is worth about 260K, I think you'd need to put in money to get down to 80% of that in order to refinance since it is now deemed an income property (you would owe 208K). The Fannie/Freddie refinance option is probably no longer available to you.
3) Talk to your lender about getting a loan modification by lowering the interest rate. It may not be likely, but it doesn't hurt to ask.
4) A short sale might be a good option for you. You have a hardship (you found a new job and moved). However, they will look into your finances and typically, you won't be allowed to walk away with any cash. But a good short sale attorney can advise you better on this situation.
5) Talk to a foreclosure attorney and look into the possibility of a deed in lieu of foreclosure. You might be able to sign the property over and avoid a foreclosure in your credit history.

Anthony Cavalea
Able Realty
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0 votes 11 answers Share Flag
Thu Mar 24, 2011
Marge Bennett answered:
you may want to talk with an attorney, but that would likely cost more than the $250. Could talk with the listing agent's broker to see what they can or will do. what is your agent saying about all this? Did you see the house? Check it out for yourself before writing the offer? ... more
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Thu Feb 24, 2011
Kim Noonan answered:
Hello Syed - your question doesn't include an address or MLS number. If you'd like to repost and add this info, someone can provide you with the 2010 real estate taxes (and any HOA fees or special assessments) on the property. ... more
0 votes 8 answers Share Flag
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