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84145 : Real Estate Advice

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Activity 133
Thu Feb 4, 2010
Michael Dotson answered:
I am not an expert in the matter, but I believe so. Depending on the extent of the contamination though, it can be more expensive than the price of a demolish and rebuild. You would need to get a professional to inspect the home to give you a better idea. ... more
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Mon Jan 18, 2010
Connie Erickson answered:
I would think that the "referral company" would have to be licensed in any state in which they place property on MLS. Also, they may be required to be members of the local and state associations in order to have MLS account. ... more
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Tue Dec 6, 2011
Bill Eckler answered:
Standards differ greatly from state to state. One common thread seems to be that agents functioning as "independent contractors" provides a great deal of individual freedom as well as opportunities for agents to create problems for themselves.

From our perspective, all agents would truly benefit from having access to a management program that closely monitors its agents and their activity.
... more
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Tue Nov 24, 2009
Dan Chase answered:
Is there any way at all to pay for your mortgage? Could you do it if you really tried?

Assume yes, then keep paying it.
Assume no, (loan reset, job loss etc.) go to your lender. Ask them if they can modify your loan. See if they will work with you to help you stay in it. Take your documentation with you. Income, expenses etc.

If they agreed, work with the new loan, and pay it faithfully.
if not, ask about deed in lieu of foreclosure. Give them the deed and walk away. Short sale and foreclosure are the only other options I keep seeing here. (not a lender or dealing with them)

If you can short sale keep making your payments. It may save much of your credit.
If you are going to lose it to foreclosure anyway what difference does making the payments create? Your fico score will be terrible anyway.

Keep paying on your mortgage as long as there is a chance you could keep the house. Once you stop payments you hurt your credit. It can take a very long time to rebuild it. A short sale is always said to hurt you less than a foreclosure. If you make payments on the place and do a short sale you may be able to get out from under the house before it is foreclosed on. That could mean your credit is much better than if you just foreclosed.

One last thought, if you are sure you are going to lose this house and need to rent get the rental before you face the foreclosure. Many will check your fico score when renting out and that foreclosed house could cost you a good rental.
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Wed Sep 23, 2009
oknothere answered:
Demolition costs can vary greatly depending on what you want to have done. I have seen prices for demo and haul-away range from around $10,000 to $50,000+. They best thing to do would be to get bids from several companies who specialize in this work.

Costs can vary based on many factors. Do you have to remediate hazardous wastes? Asbestos, lead? Are you recycling materials and needing greater care in demo? etc...
... more
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Mon Nov 30, 2009
Tom Winand answered:
No you can only sell your home. Mortgage companies and only execute their right to foreclose. I assist with an organization that helps people in that situation. See http://projecthopeforhomeowners.org/. Short selling your home can be a good idea if you are going to be foreclosed. Be aware you need advice from a organization that will give your the real truth. You can also do loan modification. Know your rights!

I had an agent call and ask me to have one of my short sale listing quit claim (give the home to them) the home to their client and they would get the bank to accept a very low price. They would market it as a sale to the public during this time 90 days and get a retail buyer and make $30,000 as a simultaneous closing. They could do that because they had the home quit claimed to them for 90 days. I'm sick of this type of unethical behavior. If you ever are ask by and agent or anyone else to sign a quite claim run way and turn them into the state.

Watch out for the misinformation even Realtor will tell you:
1. You won’t owe taxes if it's your primary residence. This is only true if the mortgage being short sold was your purchase money if you took cash out of your home on a refinance or 2nd mortgage that is taxable income if debt is forgiven. If you took cash out you will own taxes on the forgiven amount what the bank gets less what you own. If can be $100,000 or more of taxable income 1099 to you. What out don't get hurt know the facts call the project.

Call the Project 800-604-0281 they will help you create a future if you’re facing foreclosure!
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Fri Jul 24, 2009
3641 W 5180 S Stone Hollow Condominiums asked:
I have a fantastic Mountain Home for sale at the BASE of Little Cottonwood Canyon, only 8-miles away from Snowbird - Alta Ski Resort(s).Please visit this LINK for details: http...
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Fri Jul 24, 2009
3641 W 5180 S Stone Hollow Condominiums asked:
I have a fantastic Mountain Home for sale at the base of Little Cottonwood Canyon, only 8-miles away from Snowbird Alta Ski Resort.Please visit this LINK for details: http://...
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Thu Jul 23, 2009
Becky Nay answered:
Hi Tim,

I know it's difficult to get buyers to come to an open house but if it's advertised everywhere. Ex. post on the MLS, KSL, craigslist, trulia, postcards to neighboring homes, postcards to target areas such as to renters, or move up buyers etc. depending on the type of home etc. Door knock the area beforehand. I've known many agents who have had success doing just that.

Also, when you have the open house put up literally dozens of signs. In a class that I'd taken on 'selling in a buyers market' this top agent from CA said 40 signs! Put them literally on every corner, I've sometimes had 2 on a corner to catch people's attention. People just get used to seeing signs on corners that they don't pay much attention to them unless there are a lot of them!

I hope that this info. helps!

Becky Nay, GRI
Keller Williams Realty
801-573-2077 Cell
beckynay@kw.com
http://www.beckynay.com
... more
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Mon Feb 8, 2010
Jeri McKendrick answered:
Sun Nov 13, 2011
Diana Holbrook McKee answered:
Hi Peter,
I recently moved from Austin to the Salt Lake City area. I chose Bountiful but any of the areas you have chosen are nice and would meet your criteria. There are some newer areas in the west part of the valley but you will not have the panoramic views. There are some nice neighborhoods in the Cedar Hills, Highland and Alpine areas but they are farther south. Traffic may also be a determining factor depending on where you will be working. Do you have children in school? Would you like easy access to the mountains? Let me know if there are any specific questions I can answer.
Diana
... more
0 votes 13 answers Share Flag
Tue Jul 21, 2009
Bill Eckler answered:
Pat,

This is a most unfortunate situation, however, you are the only person to travel this road. Others have found it beneficial to provide documentation of this problem and submit it with a detailed letter that explains your experience.

Nothing ventured, nothing gained......

Good luck
... more
0 votes 2 answers Share Flag
Fri Oct 23, 2009
Voices Member answered:
Pat,

The Banks/Gov have created sites to give the public access to the information on the REO/Foreclosures they have listed for sale and the sites also have all the info on the bid/purchase process. Sites like these.. http://www.pasreo.com/pasreo/public/propertySearch.do

http://reosearch.fanniemae.com/reosearch/ ... http://www.mcbreo.com/st_utmain.htm

http://www.wamuproperties.com/ ... http://www.countrywide.com/purchase/f_reo.asp

You can find the links to these sites and much more here... http://www.mortgagenewsdaily.com/wiki/REO_Database_List.asp ... http://www.biggerpockets.com/bank-reo.html

Tax sale info for Salt Lake County if you're interested ... http://www.slcoaud.org/aspx/Tax/taxsale/taxsale.aspx

For the other counties in Utah ... http://publicrecords.onlinesearches.com/Utah-Foreclosures-and-Tax-Lien-Sales.htm

A good search engine for finding public records... http://publicrecords.onlinesearches.com/

Auctions...Remember Due Diligence ... http://www.utahrea.com/
http://www.propertyauction.com/Residential-Real-Estate-Auctions-in-UTAH.cfm
http://www.williamsauction.com/Search/searchresults.aspx?status=active&state=UT&categoryid=1&statusid=1&p=1.2

Good hunting, Dunes
... more
0 votes 8 answers Share Flag
Sat Jun 13, 2009
Becky Nay answered:
Hi DJ,

Qwest & Comcast have packages including all you have asked about. I feel that comcast is more $$.
I have Qwest but do not have all that is included in the package. We just have phone & internet through
them. There are other options for cable such as satellite TV through Dish One, Dish Network or Direct TV.

Other utilities are Questar Gas, Rocky Mountain Power I'm sure you would be able to find them on the
internet. Also you can find all of these links on my website: www.beckynay.com on the left side click on
area info. and then there's another click to the info. I think that's what it is, I seldom use my own site. lol
There's also info. about area newspapers. I hope that this helps! Travel safely!!

Becky Nay, GRI
Keller Williams Realty
801-573-2077
beckynay@kw.com
... more
0 votes 2 answers Share Flag
Tue May 7, 2013
Becky Nay answered:
Yes, this would be a good time to move up because the smaller homes haven't lost as much value as the larger homes. The larger and/or the higher price range the more that they've come down in value. Condos have held their values for the most part than the higher priced homes so far. Just recently I have seem some in certain areas just start to go down a bit.

I'd be happy to sit down with you and go over the numbers to see what that looked like for you at this time.

Becky Nay, GRI
Keller Williams Realty
801-573-2077
beckynay@kw.com
www.beckynay.com
... more
0 votes 2 answers Share Flag
Wed May 6, 2009
Paul_loefler asked:
I work on behalf of Trulia and I'm interested to know if anyone who is retired has been especially effected by the housing crisis. How has gone/about to go into foreclosure? Difficulti...
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Tue Nov 24, 2009
Guy Adair answered:
That depends on a lot of criteria. How big is the house? How many bedrooms does it have? How many Baths? What kind of condition is it in? Are you in a hurry to sell or are you willing to take some time to get it sold? How much do you have left oweing on the House?

The best way to figure out the value and what price you should put on the property is by consulting with a Realtor one on one and by interviewing several Realtors. Most realtors will provide you with a free comperative market analysis to help you decide what the price should be. The more information you can provide on the property the better.
... more
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Fri Apr 17, 2009
Scott asked:
I JUST NEED THIS INFO TO DETERMINE CAPITAL GAIN FROM 1993 WHEN LAND WAS GIFTED TO ME AGAINST THE AMOUNT LAND SOLD FOR IN 2008
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Wed Apr 15, 2009
Guy Adair answered:
Typically you will have to wait up to 6 months before a lender will consider a refinance. I have seen some lenders do a refinance in as little as 3 months but it depends on the lender. With all the new guidelines in place on lending I would be suprised if you could refinance any sooner than 6 months but it is a possibility. This is something that you will have to check on with a lender for a definite answer. I would be glad to give some names of some good lenders if you are interested. I hope this will help. ... more
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Wed Apr 15, 2009
Valencia Bradley answered:
Hud.com should have the most updated general information. Each county specialist should be up to date on there areas of service so the information I have for Davis county also is $1095.00 based on quailifing stipulations which the specialist in that department should have as well. ... more
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