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80918 : Real Estate Advice

  • All21
  • Local Info0
  • Home Buying6
  • Home Selling5
  • Market Conditions1

Activity 250
Thu Mar 1, 2012
Coleen Allen answered:
Buyers usually come across surprises in the Approval process with the Lender and during the Inspection once they have found the home they want.
With the Lender, sometimes there are issues with the buyers credit that they were unaware of. That can slow or actually stop the ability to buy a home. That's why it is so important they speak with a good lender prior to touring homes in person.
With the Inspection, buyers may encounter many more issues with a home than they expected. Depending on the seller and the negotiation process, those issues may not be resolved by the seller. This leaves the buyer with a hard decision as to whether or not they are willing or able to take on the previously unknown issues of the home.
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Wed Feb 29, 2012
Don Tepper answered:
Just guessing, but probably the land was more expensive. I see that all the time in the D.C. area--the same builder, the same model, but a variety of different prices, likely tied to the price of land. ... more
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Fri Feb 17, 2012
answered:
Number one issue is by far is credit. As you know we are going through a cycle where a huge percentage of our population has in some form or another been damaged or affected by the downturn in the economy or the housing market. But with a little work and patience most people seem to be able to put their credit issues behind them. I still can't figure out why more consumers don't take advantage of government insured loans like FHA, VA or USDA, the qualifying is so much easier than going FNMA or Freddie Mac.

As far as income is concerned, it doesn't seem to be an issue; people now realize that you've got to show income documentation in order to qualify for a home loan. With interest rates at an all time low and property values where they are, it's now more affordable than ever to buy a home. But there are those out there that still believe the market is still going down and that may be the case in some areas, but overall I've seen the market hold its own for the past several months.

The key in my opinion is for every R.E. Agent to have a seasoned Loan Officer to work with, someone who truly understands the meaning of not trying to put a square peg in a round hole. Since the demise of the Sub-Prime Lending Industry, most of the dirtballs are out of the business, meaning if you have managed to hang in there as a Loan Officer or Realtor during the past couple of years, you must be doing something right.

The main thing prospective home buyers need to understand is, buying a home takes a little planning ahead, if you know you want to pursue buying a home, speak with an experienced Loan Officer in advance. Take that first step; if you do you'll know up front if you have any credit issues what you have to do to rectify them. Having all your ducks in row is crucial. The greatest asset a home buyer can have is a good R.E. Agent and a great Lender. The two make an unbeatable team and the making for a smoother transaction.

Best of Luck!
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Tue Apr 29, 2014
Dan Tabit answered:
Marion,
Yes, absolutely. You will need to provide copies of the lease and possibly verify you are receiving the rent through bank statements. Because your 100% occupancy is not the norm and there are often other expenses when owning a rental, standard practice is to credit 75% of the rent toward your income for qualifying.
Enjoy your new home!
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Thu Jan 19, 2012
Margaret Hassani answered:
It can be difficult, but if you keep trying and are honest about the felonies, you will find a place. Craigslist has lots of homes for rent, many of them by personal owners. That may be your best bet. Good luck! ... more
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Thu Jan 19, 2012
Walter 'Skip' Kersten answered:
Hi Natalie,
The first thing to do is talk to a lender. If you need to include the rent in order to qualify for the new home, there are some equity requirements. Getting loans on second homes today can be challenging.
Good luck,
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Tue Jan 3, 2012
Joan valverde answered:
Gertrudes are you asking what hospital is most near you at your neighborhood on Powers? St Francis Penrose, is East of Woodmen and Powers. If you are way South on Powers, you can go to either Memorial on Boulder or Penrose Main off Nevada and Jackson. I hope this helps you out. Please call me if I can assist you any further.
Best to you in 2012.

Joan Valverde
Keller Williams Clients' Choice
mypikespeakhomes.com
719-499-3266
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Thu Dec 20, 2012
Brenda Feria answered:
If your house is listed with an agent, your agent can enter your home on Trulia. If you are selling the house yourself, you may enter the listing. You would need to set up an account and enter the listing and add photos and description. Some real estate websites feed to Trulia as well. Visual Tour is one of them. ... more
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Sun Jan 22, 2012
Edith Karoline Jasser answered:
Contact a local Realtor who has access to the multiple listing services of your area and can get you the numbers you are looking for, but you also should communicate the details of your property to that Realtor so that he/she can compare your size, type of home and potentially area and put that into the average number.
Sorry I cannot do that for you....
Edith

PS I am sure that at one point a Realtor from California will respond to your question, or just directly contact
one...
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Sun Feb 9, 2014
Edith Karoline Jasser answered:
Hi even if you get an average time from a local Realtor, it will not matter much, because in today's market
most if not all areas are buyers markets, i.e. more homes offered for sale than there are ready and willing
and interested and searching buyers around. Therefore it is the buyer that can select from a large number of properties and why one sold after 30 days and another one is still on the market after 12 months is probably anybody's guess. Each buyer is looking for something different, and what one likes in your home another one
may very well hate.....

So no matter what the information could be what the average is, it will be difficult to relate it 100 % to your home.
If priced right, the best updated, the nicest open floor plan, the best curb appeal in your size and price range
will sell first or sooner than.....

I wish you luck and please connect with an experienced Realtor in Colorado Springs to guide you and represent your interest and to advise you well.

Edith YourRealtor4Life! and Chicago and Northern Illinois Expert
Working always in the very BEST interest of her clients
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Wed Dec 14, 2011
Anna M Brocco answered:
Unclear, are you working with your own agent, and if so what is he/she suggesting. Generally the listing agent has no business accepting/rejecting/counteroffering any offers on behalf of the seller, it's the seller who makes such decisions. Also unclear are the terms of the offer; if you are working with an agent, contact his/her broker owner, and or, office manager, and ask that he/she intervene on your behalf. ... more
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Wed Nov 16, 2011
Barbara Schiappacasse answered:
Hello Jennifer. Looking for the perfect rental unit can be tough enough but when you need to find one that will accomodate special needs, well it can be a real challange. I know because I spent a couple of months last spring looking for my brother who uses a power wheelchair. Many complexes I went to claimed to have an accessible apartment but when I got there, I often found an obstacle that made it difficult to get to or get his chair into. We ended up finding a very nice accessible condo to rent, got him moved in, then discovered that the paratransit system stops service about 1/2 mile from where he lives. Fortunately there are some other volunteer transit services but not the optimal situation! It would help to know what part of town you'd like to be in and what special accomodations you may need. Because one of my specialties is assisting seniors with real estate transactions, I do have many resource lists and would be glad to share these and my experience with rental searches. Although I don't do property management myself, I do have a property manager in my office. I also work with a couple of programs that could allow you to purchase your own accessible home if you are interested in that as well. Please feel free to contact me at 719-930-1323 for more information. Good Luck. ... more
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Tue Oct 25, 2011
Bernie McDonnell answered:
The best suggestion is to talk with a good mortgage lender to find out what you can buy and when. You don't know what you don't know. I can give you some excellent people to talk with. Once you find that out, you can make a good decision on whether it's time to rent or buy. I always tell potential buyers I work with that everyone can buy a home, it's just a matter of when. I work with a lot of buyers and can give you more info if you would like to contact me. ... more
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Tue Oct 4, 2011
Marc White answered:
I would have an attorney verify any contract or lease agreement before signing anything.
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Sat Aug 27, 2011
Karen Ahrens answered:
Hi Michael,
I know that neighbothood, are you needing just any appraiser or do you want someone that does appraisals in that area? I use to live in Wissler,
Karen Ahrens
719-339-0052 ... more
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Sat Oct 22, 2011
Michael Cheng answered:
Due to similar constraints, many people in the Bay Area also choose to do garage conversions. In general, such conversions have little to no impact on the value of the home upon resale, as I've seen neighboring homes sell for nearly the same price, since it's pretty easy to convert a room back into a garage shell. However, the money you put into the conversion may be wholly lost as few people add value with a conversion. ... more
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Mon Sep 26, 2011
Kristi DeFazio answered:
The best practice with a short sale is to only submit one offer to the bank at a time because you want the bank to take you seriously and not get confused with different offers coming in. When I represent a buyer on a short sale I put that in the contract- that they will only submit one offer. However, if multiple offers come in at the same time, the seller should see all offers unless one is already signed and submitted. ... more
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Wed Sep 14, 2011
Sue Bigus answered:
Hello,
Congrats on your opportunity to move to our wonderful town! Call me and we can talk about neighborhood options, there is too much to write about here! 719-229-5889
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Fri Jun 24, 2011
Chuck Wartman answered:
The thing that pops out at me first is that you said you got an FHA loan. If the home was an FHA insured home then they will ONLY pay 1% towards buyers closing costs. I dont know your sales price but see if that fits.Other than that, there are many things that could have caused this. Tooo many to go over here. Short sales are difficult and congrats to actually getting to closing though.( I am curious if the math works to the 1%)

Chuck Wartman
231-5525

ChuckWartman@gmail.com
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Tue Jun 21, 2011
Sameer Punjani answered:
Well contracts are signed by all parties so they can follow the terms and conditions. In California, if this is the case, your agent would send out something called, "notice to buyer to perform" This would give the buyer a time period to remove the appraisal contingency. If they don't, then you would be able to cancel the contract.

Now, what is probably best is to find out through your agent what is going on. But, normally it doesn't take 17 days to get an appraisal done. (this is the normal time frame to remove all contingencies) Now, if you do have another buyer, a back up buyer- then go ahead and think about this route. But if you are going to have a hard time finding another buyer, then it's probably best to work with the current buyer you have...

Your agent should be able to provide this info to you.
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