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85385 : Real Estate Advice

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Activity 106
Tue Jul 3, 2012
- Dane Mickelsen - answered:
That area is very nice, the golf course is one of the nicest public courses in the area. It also has two lakes that are stocked with fish. They have homes prices that vary from the low 200's to the 500,000 range.

As for your question about living on the outskirt of town, you need to look at what amenities are close to that location. How much driving are you going to have to do from living out there? If most of the everyday requirements are close then you will prob be happy with your choice. It also depends on how long you plan to live in that house. If you are going to sell quickly you need to think about the location in terms of what the masses would think, i.e. is it really to far for the average person to drive? If you are going to live in it for a while then just make sure you will be happy in it, it will not be the outskirts forever....

Hope this helps, good luck in your home search.
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Thu Jan 6, 2011
Tim Moore answered:
Age does not play a roll in the rate. I know that lenders look at a portfolio with some skepticism because the funds are not liquid and might be stocks or bonds which can loose value overnight. They should look at the portfolio as being better than having nothing at all but they don't look at the face value as you do. Speak to your lender for a better understanding. The lender might suggest shifting some of the funds in the portfolio into something more desirable to the lender which might be ok for you to do. ... more
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Tue Jan 4, 2011
Tim Moore answered:
A Realtor can look in their MLS system and find short sales and what they sold for. It is a great piece of data that tells a lot. In my area you find short sales selling for about what they are listed at to above. Why above? Because often the owner and his agent get together and pick a number to list the house for that the bank has never approved. An offer comes in below this listed amount and the bank just refuses to answer either yes or no. Time goes on and more low offers come in - no answer from the bank. Then a higher off er comes in and the bank says no, but a little higher and we will take it and so it happens and sells for a little more than was asked in the listing. The bank is the final ok - not the seller.

Short sales don't go for under list all the time and I rarely see one way under.
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Tue Nov 23, 2010
James Wehner answered:
Are you looking to reinstate your loan by bringing it current or paying it in full? If so, you should also try to contact the trustee with the information so they can contact your lender as well to bring your home out of the foreclosure proceedings.

You may contact me directly if you need any assistance on identifying the trustee and their contact information.

Best of luck!
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Tue Nov 9, 2010
Jeffrey Masich answered:
Dear Taza:

Good question. There are many different public and private auctions that lenders use to auction a home. Yest the county court house is one. No you do not need to be a Realtor to bid. However, you should study and make sure you know what you are doing. Make sure you inspect the homes you are interested in bidding on carefully.

There are auction bidding companies that will do the bidding for you for a fee, if you feel uncomfortable about the experience. No, you have to put a deposit down and arrange for payment of the balance or suitable financing a few days later.

Homes that are in better shape requiring less fix up are usually listed on the MLS by the bank. You can use your Realtor to find these homes. Homes sold by Fannie Mae and Freddie Mac can be purchased through your Realtor.

May I wish you the best.

Jeff Masich, Realtor
Arizona Homes and Land
http://ArizonaHomesLand.com
HomeSmart
Scottsdale
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Tue Nov 2, 2010
Scott Godzyk answered:
The number 1 pro isthe rent is there on time every month.

the number 1 con is if you get a bad tenant they can be costly in repairs and damages. they are very hard to get rid of if a problem.

I had 1 that her old boyfriend came over and broke down the door, i asked her to replace teh door, of course she couldnt, so i replaced it. 2 days later same thing... she turned me into sec 8 who withheld my rent for not fixing imediately, now it happened during the night and i had it fixed by 10 am that morning.. the next week all the windows got broken out... so when they are good they are real good but when they are bad, they are real bad, there doesnt seem to be a middle
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Fri Dec 24, 2010
Joe Lanzilotti answered:
Certainly if you closed on the home it is yours to do as you wish. If you "financed it" as an Owner Occupied property that would be your only setback in my opinion.
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Sun Sep 12, 2010
Team Lee Moore Lee Sr. & Lee Jr. answered:
I always tell people.....you can do anything you want, as long as it is legal.......yes, if the owner wants to lease for 3 months that's OK! A Lease is simply "an agreement" between you and the Landlord, and you all can agree upon anything you want! Lee ... more
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Wed Sep 8, 2010
Roswell Moore, answered:
Hi Josie,

Believe it or not, you don't need perfect credit to buy a home. You have a couple of different options for you to accomplish your goal of buying a home for your children. Call me directly to go over your options.

All the best,
Ros

Roswell Moore, CMPS
Certified Mortgage Planner
480-422-5095 direct

Direct Lender, Mortgage Bank where we originate, process, underwrite and fund our own loans, on time.
NMLS ID 263779
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Thu Sep 2, 2010
Shawn Burns answered:
While there are many foreclosures that are around this price, this might not be what you are looking for. This lot was acquired at a Trustee Sale a nd there is not actually a home on this lot, so the vacant land was listed for this amount by the lender. To my knowledge, this parcel of land was recently sold. ... more
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Tue Nov 2, 2010
Randy Hooker answered:
You need to consult an attorney. But if you have a legally binding lease agreement, obligating you to pay rent, then you are bound by that lease to pay the rent. The owner's/landlord's problems (foreclosure or otherwise) do not supersede your lease agreement - in my personal opinion. But I am not an attorney, and you truly do need legal advice, not real estate advice.

Best of luck!
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Tue Nov 2, 2010
Scott Godzyk answered:
usually the owner does not get any money from the auction unless it sells for more than the owe plus teh cost of the foreclosure which if it was teh case, he would be able to sell it now and not have to go to foreclosure. As a landlord most state laws require the landlords to keep security deposits in a seperate account and not deposit it in their own personal use accounts.

At this point you should at least talk to an attorney for teh 1st free meeting to get some direction. no one can tell you not to pay your rent, i have heard not paying it but p[utting it aside in case the owner is able to get out of foreclosure by working something out with the bank, the you still have your rent to pay him.

You can also google landlord tenant law Arizona and get the rules regarding security deposits.

Good luck working things out
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Fri Aug 23, 2013
Joseph Herrell answered:
FHA ironically does not have a minimum credit score requirement. They have talked about implementing one... Most of the actual lenders have "credit overlays" where they require a minimum of 620 FICO. There is in additiona a down paymnet of 3.5% required and you have to meet debt to income ratio's... Please feel free to ask any additional questions! ... more
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Fri Jun 25, 2010
Joseph Herrell answered:
Peoria is a large irregular city. The Northern parts of Peoria are a lot newer (Vistancia, West Wing Mountain, Cibola Vista) The "downtown parts of Peoria are older.
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Tue Apr 27, 2010
Robert Gouse asked:
Wed Jan 19, 2011
James Gordon ABR SFR SRS answered:
Bin you can sue for almost anything. At this point the property owner does not have the money to pay the mortgage and is being sued by the lender. If you feel that they have some money stashed away do ahead and get in line and sue them. By the way keep your rent current and be able to prove it so that you can take advantage of being able to stay in the home after the forclosure sale. Here is a good link about your situation.
http://www.foreclosurelawfirms.com/resources/foreclosure/foreclosure-basics/rental-properties-foreclosure-and-eviction-laws.htm
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Fri Sep 7, 2012
Chris Collins answered:
It is convienient to shopping and the Freeway. Also is very close to the Cardinals and Coyote Stadiums which includes restuants and a Movie theater.
Please let me know if you would like to see more info on houses in that area.
Thank you,
Chris Collins
602-290-0950
chris@chriscollinsrealestate.com
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Sat Jan 23, 2010
Linda Remington answered:
Typically you are given the packet you describe at the time you sign....essentially expedites the requirement that you have a copy of everything you sign. After closing you should receive your deed after it has been filed as well as a copy of the final HUD that has been signed by al parties. This will often take a couple months. Just call the title company. I believe the HUD is all the IRS will be interest in seeing a copy of if required when filing your taxes. ... more
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Sat Feb 6, 2010
Sandy And Jay Souilliard answered:
WEll,,,it is like this. The short sales and foreclosures are not for everyone! they can take a very long time to go to closing and there are a lot of unknowns with a property that is in poor condition . (even if you have an inspection) The bank willl not pay to get anything fixed. It happens, but it is rare and I would not count on it.
If you are on specific timeline or get nervous waiting for answers, it is probably NOT for you.
Buying a regular home that is on the market is much easier as a rule. As long as you have your financing in order and there are no major glitches with the inpection .
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