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Home Buying in 98118 : Real Estate Advice

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  • Local Info1
  • Home Buying5
  • Home Selling0
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Activity 299
Tue Jul 31, 2012
Dave Skow answered:
If. Income / employment / assets are all verifiable ... There is a program called foreign national program that some lenders offer ..... Rates are higher than regular loans ( 5.5%-6% For 5 or 7 year balloon program) ... more
0 votes 6 answers Share Flag
Mon Jul 9, 2012
Scott Godzyk answered:
Bath off master would indeed referred to a bathroom that you can access from the master bedroom. It may or may not have an access to say a hallway. It must have access to the BR if ist states bath of master though, ... more
0 votes 9 answers Share Flag
Thu May 31, 2012
Dan Tabit answered:
Pamb,
Is this a Bankruptcy Short Sale by chance? If so, the BK Trustee will need to be paid and it's not a small amount. As you do your market analysis, or your agent does this for you, just make certain that the final costs to you for everything makes sense. If the house is listed for $350000 and they want 5% plus $3250 for a grand total of $370,750 the house should be worth well over $375,000 to make it worthwhile.
Also realize that the Trustee fees are not financeable as part of your loan. So your 20% down would be of the $350,000 ($70,000) and you'll need to pay the additional $20,750 out of pocket.
My numbers are for illustration only and based on a previous similar sale I did. Best of luck.
... more
0 votes 4 answers Share Flag
Mon Apr 15, 2013
Dave Skow answered:
I would get yourself completely pre approved and continue to search the way you are ...be prepared to place a strong offer (with as few contingencies as possible, a good earnest money deposit and a relativelyt short closing timeframe like 30 days or less ) on the property that you find appealing as soon as you are ready ... more
0 votes 40 answers Share Flag
Wed Apr 10, 2013
Tim Moore answered:
First, your offer was not $3000 over list it was $1500 over since you asked for closing costs. Sellers look at the bottom line. It seems odd that Homepath would email your agent, normally they deal with their agent who then in turn contacts your agent. It also seems odd they would indicate they were countering and not give a figure. Since you are over list, even if just $1500, seems odd they would counter, but I have had nothing but bad experiences with Homepath and their local agent. Better luck to you. In my area Homepath deals with one agent and that agent allows subagents to list and act as the sellers agent. This might be the case for you and sometimes these seller subagents (basically agents in the same office) are not as up to speed as others so misinformation can ensue. ... more
0 votes 11 answers Share Flag
Fri Jan 24, 2014
Marcy Spieker answered:
Not at all. As long as you have your DD214 and you meet the normal qualifying requirements you are fine. It is no more difficult that any other type of loan. Just be certain that you choose a lender who is certified by the VA to handle VA loans.

I would be happy to send you a list of lenders that I know to be excellent at handling VA loans.

Marcy Spieker
RE/MAX Metro Realty
marcy@spiekerhomes.com
... more
0 votes 16 answers Share Flag
Wed May 29, 2013
Dan Tabit answered:
Ivedu,
Steps 1 and 1a are to find a great Realtor and great Lender. One can recommend the other based on their experience with them. Once you have your professionals, they can get you pre-approved, discuss what you hope to find in your first home and help you with the entire process.
A great agent will be looking out for your best interests, negotiate the best deal for you and protect you through the inspection and other process.
... more
0 votes 5 answers Share Flag
Wed Jun 6, 2012
Kary Krismer answered:
The keybox was probably removed because the sellers didn't want to have it on their door while the bank took 5 months to make a decision. The listing agent would have removed it.
0 votes 13 answers Share Flag
Wed Apr 25, 2012
Jeff Strand answered:
Just be honest with the seller and try and sit down face to face to work something out with all parties being present.
0 votes 13 answers Share Flag
Mon Mar 19, 2012
Jeff Strand answered:
Being someone who works in Seattle as a broker specifically I would say North Capitol Hill and Madison Park because of access to the 520 bridge at Montlake. Also over by U-Village and the Maple Ridge area, again because of access. I would avoid Queen Anne until the "Mercer St. mess" is finished, which should be in another year. If your looking at a condo then downtown near one of the freeway entrances is another option.

Happy to Help.
Jeff
... more
0 votes 2 answers Share Flag
Sat Mar 29, 2014
Brett Frosaker answered:
Wow, this will be a spirited string.
I'll start; as a generalization, east side is more conservative and auto oriented and the west side is more liberal and pedestrian oriented.
0 votes 13 answers Share Flag
Tue Mar 13, 2012
Tim Moore answered:
The question is what does he mean buy Foreclosed properties? Once foreclosed they are no longer called foreclosed properties because they are now owned by some one or something - like a bank and can be called bank owned homes. If he is talking about bidding on homes in foreclosure at the county auction that is way different than making an offer with a Realtor on a listed home that is bank owned. We wonder which he means. ... more
0 votes 12 answers Share Flag
Fri May 18, 2012
Mack McCoy answered:
As a Realtor® Certified International Property Specialist, I am aware of the differences in real estate practices in Australia and the US. As far as returns, there's a risk/reward range - the highest-yielding properties tend to be at closer to the end of their useful life or have less residual value. Reasonably, 6% is a decent target. You can do better, at least in the short-to-mid term.

Charges can be as low as about $1000 for a cash purchase. I have good sources for financing if that's an attractive option.
... more
0 votes 7 answers Share Flag
Fri Mar 9, 2012
Dave Skow answered:
Look at the areas that have held value ( or lost the least value) in past 3-5 years
0 votes 4 answers Share Flag
Thu Mar 8, 2012
Brett Frosaker answered:
As brokers we try to answer that question on our web sites, profile pages, and marketing material. Then our goal is to perform. It would be really great to hear from buyers rather than just agents. ... more
0 votes 5 answers Share Flag
Sat Apr 27, 2013
Patrick Beringer answered:
Each short sale is unique but one common need is to work with an agent who has a proven track record of getting them closed ... And be patient.
0 votes 10 answers Share Flag
Mon Mar 5, 2012
Dave Skow answered:
Definitley get a loan pre approval in place ( even if you know you qualify eassily this process will help make you undersand this piece of the puzzle more .....with this done , you can focus more intently on home search ... more
0 votes 7 answers Share Flag
Sun Mar 4, 2012
Ray Akers answered:
Unless prohibited by the terms of your loan, most closing costs can be paid by the seller. And, in some cases, all buyer closing costs can be paid. For example, FHA loans allow some of the down payment to be gifted by a family member, and some closing costs can be paid by the seller. Ask your lender for more details as the rules vary from loan program to loan program. ... more
0 votes 3 answers Share Flag
Wed Apr 11, 2012
Ray Akers answered:
I believe many first-time buyers jump into the home-buying process without any preparation, and they find the process overwhelming. There can also be some surprises when first-time buyers engage with a bank or mortgage broker in an attempt to get approved for a loan.

Based on my experience with first-time buyers, the best advice I can offer is to 'hook-up' with a competent Realtor at the very beginning. Talk to family, friends, and co-workers to find a Realtor. Someone you know already knows a great agent that can help you. Once you've found a Realtor with whom you have good communication, follow their advice. Your Realtor is an expert. Your home-buying experience will be less stressful and the outcome will be better if you work with a professional.
... more
0 votes 2 answers Share Flag
Fri Feb 24, 2012
Dan Tabit answered:
Deja,
When you buy into a community you own the space you purchase and a portion of the common areas. There are typically association boards that are voted in by the owners to manage the complex and make recommendations for changes as they come up.
The question is, how restrictive are they planning to make the CC&R's and are you okay with the new rules? If they ban large dogs, and you already have one you could be grandfathered in or need an exemption due to your current status.
On the other hand, some rules allow for some order and can address long standing issues others have had to contend with. It just comes down to how you want to live and how the association wants things to be.
I would add a contingency to review any CC&R's and decide what rules you can live with and which you may not want to and decide.
... more
0 votes 6 answers Share Flag
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