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Allen : Real Estate Advice

  • All147
  • Local Info15
  • Home Buying53
  • Home Selling1
  • Market Conditions1

Activity 114
Mon Feb 24, 2014
. answered:
Sc,

Huntington and Highland Homes and Sanders and Associates are all under the same parent company.
Huntington homes are a more semi-custom, luxury home with a luxury finish out. Highland Homes are well made, very nice homes and are less custom, more of a true trac home.

Please let me know if I can help you further.

Nicole Arenas, Realtor
214-991-9507
... more
0 votes 6 answers Share Flag
Mon Feb 24, 2014
RJ Avery answered:
It really depends on the area. Banks to Broker Price Opinion (BPOs) on foreclosures and this is supposed to give them an accurate number of what the home would sell for. Normally the amount owed is much higher than the appraised value or else the current owners could have easily sold to avoid foreclosure.

If you are looking for a home and need some help I offer fast reliable Realtor services and pay you 20% of my commission after the transaction.

Have a great night
RJ
214-682-0598
... more
0 votes 4 answers Share Flag
Mon Feb 24, 2014
Amy Downs answered:
If your home is included in a bankruptcy, the attorney will have to approve the sale. I have sold homes in the past that were included in a bankruptcy without any problems. You would just need to put in "special provisions" of any contract that the sale is contingent upon approval from the bankruptcy court, which could cause a short delay.

If I can answer any other questions or assist you with your sale, please contact me at 972.468.5136.

Your real estate resource,
Amy Downs, Realtor
Keller Williams Realty
972.468.5136
amydowns@kw.com
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Thu May 29, 2014
RJ Avery answered:
0 votes 5 answers Share Flag
Sun Oct 4, 2009
Dallas Texas answered:
Ask professional who made these statement provide documents to you

FHA do have guidelines for approval in order obtain a loan. Many sellers will decline a FHA or VA loan

National Featured Realtor and Consultant, Texas Mortgage Loan Officer, Credit Repair Lecturer
Follow me on Twitter: http://twitter.com/Lynn911
Lynn911

http://www.lynn911.com
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Mon Feb 24, 2014
RJ Avery answered:
Eventually the new owner/bank will proceed with standard eviction processes. Typically they will try all normal means to get a hold of the tenant. If they fail, they will have a constable put a 3 day notice on the door and after three days everything will be moved out.

The thing is every bank moves at different paces, I have heard from most of them that once they get the house back this process can take anywhere from 2 weeks to 6 months.

hope this helps
RJ
214-682-0598
... more
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Wed Apr 17, 2013
Patrick Thies answered:
Your brother simply writes a letter stating his relationship to you the amount that he is giving to you (states that it is not a loan and does not have to be paid back) and for what property. That's pretty much all there is to it. Now thank your brother. :-) ... more
0 votes 6 answers Share Flag
Sat Sep 26, 2009
Bruce Lynn answered:
This is tax appraisal....not bank appraisal.
No one but the chief appraiser knows how their model works.
I often think not very well.....many people complain that tax values go up in a down economy.
I often see swings from year to year like this.
Just remember tax values are not market values.
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Thu Apr 2, 2015
Tamika Goree answered:
Your RE Agent & your LO didn't go over the loan process with you. Wow! I am so sorry to hear that. Your down pymt is 3.5% for FHA & 5% for Conventional. Your closing costs are funds needed to close on your home. Closing costs are approximately 4% of the loan amt. Do not unlock your rate! Paying a slightly higher rate will not make your closing costs less, it will actually make it more. You pay interest on the loan at the time of closing. How much you pay depends on what day you close on your home. Let's say you close on the 15th of the mth, you will pay 15 days of interest (from the 15th-30th). Your interest rate depends on how much interest you pay per day. Even if you did qualify for the tax credit, you using that as a down pymt and/or closing, it would be another $320 liability that the loan officer would add to your debt. They make it seem like you are taking out a loan. I would have to know more of your situation to give you a better response.

Please call or email me at your convenience.

I look forward to hearing from you soon!

Make it a Blessed Day!

Tamika Turner,
"Your New Home Specialist"
Cell: (972) 697-1178
Fax: (682) 222-1049
Email: Info@NewHomesInDFW.net
http://www.NewHomesInDFW.net
"Specializing in the Sale of Brand New Homes in DFW!"
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0 votes 23 answers Share Flag
Mon Sep 14, 2009
RJ Avery answered:
I would suggest trying an outside broker and see if you cannot get approved FHA for a 3.5% down. If you can there is also plans that can monetize the $8000 tax credit to be used towards closing costs and down payment. Closing costs can be paid for by seller, however the downpayment must come from your cash or the DPA. I would act really fast as the DPA system takes at least 45 days and to be closed by november 31st and get the tax credit you would need to have a contract working no later than the first week of November.

If you would like the number of a good lender i have done 3 of the DPA loans with mine and he understands the process. Also if you have not chosen A realtor I would be happy to send you a search and show you all the properties in the area. I will be listing a home on Suzanne tomorrow in Allen and would love the opportunity to work with you as a buyer.

As an added bonus my lack of a large name broker allows me to rebate 20% of my commission back to you at close.

One other option is to have a friend or family gift you the funds prior to closing.

Please dont hesitate to call with questions I am up til at least midnight tonight if not later.

Thanks
RJ
214-682-0598
... more
0 votes 7 answers Share Flag
Fri Sep 11, 2009
RJ Avery answered:
The only way you can avoid is putting 20% down. Im sure this you probably know. If you are considering getting second loan from BOA to cover this other 15% it would probably have to be secured by something other than the house you are purchasing, like a CD or just an outright line of credit.

If that is available it would definitely be a good idea as long as the other loan was a good interest rate and the difference in monthly payment is less than what it would be if you had to get PMI.

As far as if it is too late that really depends on if you have even found a home yet. If you have not and are not working with a Realtor yet I would be happy to assist you. An added bonus of my services is that my lack of a large name broker allows me to rebate you 20% of my commission after closing.

A link to my website is below. Please forgive the mess as I am in the middle of redesigning it. You can look up Avery Properties on Google or Yahoo and find out what some of my clients have said about me.

Thanks again and good luck. Definitely do need to get moving as one would expect underwriting times will start getting longer the closer we get to the deadline.

Thanks again and dont hesitate to call.
RJ
214-682-0598
... more
0 votes 8 answers Share Flag
Mon Aug 31, 2009
Tommy Burris answered:
Consider:

If you lose the interest deduction on your home because it is paid..... Will you lose out on other deductions because you do not have enough deductions to overcome the standard deduction.

Must be considered.
... more
0 votes 4 answers Share Flag
Thu Aug 27, 2009
Tommy Burris answered:
You were issued a policy when you purchased your home. It protects you should there be a lien against the property before you bought it.
After you pay off the mortgage.... that policy is still valid.

The property is already in your name.
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0 votes 2 answers Share Flag
Tue Aug 25, 2009
Jerry Holcomb answered:
Hi Kathy:
Great question, Foreclosed/HUD homes are different than buying from the real person that owned the home.
1, The Bank/HUD that owns the home has hundreds in not thousands of homes for sell and that home is just a number to them in a pile of files on their desk. Expect delays in response from them.
2, you have little negoitation before or after the offer is made.
3, Most homes have sat vacant for some time now and repairs you may not see are possible.
4, when dealing with the actal home owner they most likely have another home (only one) they want to buy and need to sell NOW. The Bank does not.

In most cases yes, the highest bidder wins however, special treatment is given to Public safety, Nurses & teachers.

You will have to be pre-approved with a leter from the lender usually sent with the contract. HUD or the Bank does not look at your credit only that you have been pre-approved.

Now, timing is an issue most will give you only a short time to inspect the property before option period is over so you need to move quick to have an inspector really check out the house, foundation, HVAC etc.
Then they will require loan docs 3-8 days in advance so they can sit in the pile of other contracts to review.

Plan on asking for more than 30 days to close the financing to be safe.

So, If I haven't scared you off of Foreclosure/HUD homes let me keep going.

Yes, you can get a deal on a HUD home and we really need people to live in these homes. It helps the neighborhoods out and down the road you will have a beautiful home.

If you have more questions send me a note to jerry@DallasFHAloans.com
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0 votes 6 answers Share Flag
Tue Sep 6, 2016
T.E. & Naima Sumner answered:
It is the same as a Notice Of Foreclosure Sale. It is a notice announcing the public sale of a particular property. This notice is mailed to the parties affected by the sale and it's posted in the local publications. The notice will post what day and where the auction will take place.

It is possible that the property doesn't sell during that time. Sometimes, the owners are able to do a modification or just catch up on their payments and the house doen't make it to the sale. If the sale takes place, the new owner will have the option of evicting the occupants or make arrangements for a rental. It would all depend on what the new owner intends to do.

The chances that the mortgage company will let the tenants stay in the house are null. Banks are not in the property management business. They would rather have the house empty for years, let it get vandalized etc. than have a paying tenant stay in the house.

Naima
214-289-8555
Naima@Sumner-Realty.com
... more
0 votes 3 answers Share Flag
Sat Sep 12, 2009
Dorene Slavitz answered:
It is customary to sign a contract when working with in buyer agency. You are not "stuck" with this agent, as you can or cancel the contract by mutual agreement. It would be wise to also begin your financing by getting a pre-approval from your bank, or working with your Buyer Agent to obtain one.
I haven't heard about the $200 fee before. I would suggest you call the Broker and ask about the details of that fee.
... more
0 votes 24 answers Share Flag
Thu Aug 6, 2009
Monika Kaiser answered:
Hello Kim,
if you follow this link you will find all the information you need: http://www.weichert.com/firsttimebuyer/.
But hurry up you have to have settled by Nov 30, 2009.
0 votes 10 answers Share Flag
Thu Nov 20, 2014
T.E. & Naima Sumner answered:
One of the big builders there declared bankruptcy and their homes have ended up in foreclosure. That hurt the community big time. Some of their homes are still for sale at veyr good prices.

Naima
214-289-8555
Naima@Sumner-Realty.com
... more
0 votes 6 answers Share Flag
Sun Jul 26, 2009
Grace Hanamoto answered:
Hello Josh and thanks for your email.

First, this is certainly a "step forward" in moving toward a successful short sale. Once the documents are submitted, a negotiator of mitigator is assigned to the file. However, there are many other hurdles that must be surmounted in order for the sale to be approved, so, while learning that a negotiator has been assigned is excellent news, it does also mean that there will be additional "wait" times. Plan to be patient while the negotiator reviews the file, orders a BPO, checks the financial records of the seller, verifies liens against the property, and determines if the sales price is adequate to cover the bank's losses. This situation can also be complicated by the presence of an additional lender (second loan) on the property.

Good luck--be patient and stick in there!

Sincerely,
Grace Morioka, SRES, e-Pro
Area Pro Realty
... more
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Thu Aug 27, 2009
Dallas Texas answered:
Home is listed in MLS for $175K unless an agent on property difficult state true value . It appears right at approx. market value without any further research.

Direct Link other homes in same area:
http://sites.google.com/site/dallasbankforeclosureslistings


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Lynn A. Crosby ~ National Featured Realtor
Follow me on Twitter: http://twitter.com/Lynn911
"...Specializing in Residential, Commercial Properties and Loans..."
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