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Anne Arundel County : Real Estate Advice

  • All28
  • Local Info3
  • Home Buying8
  • Home Selling1
  • Market Conditions0

Activity 262
Tue Mar 26, 2013
Jenn Bonk answered:
Call me and we can discuss the process for getting it done for you. Jenn Bonk jennbonk@kw.com, 410-499-2251
0 votes 6 answers Share Flag
Mon Feb 25, 2013
Robert McArtor answered:
I have to ask you. What is your agent telling you? Is your agent asking the Listing Agent for daily up-dates as to what is happening? The Listing Agent is working on behalf of the Seller to move this Short Sale file forward. Believe me, they do not want this to go to auction HOWEVER...with that said. It MAY work to your benefit. I have heard many times that if the Lender (Investor) buys the property at the court house steps, the lender should take a second look at your offer. Remember, many times the one hand (Foreclosure Department) does not know what the other hand (Short Sale Department) is doing. Your file deserves and NEEDS an experienced Short Sale Negotiator. Basically someone who is working on this file everyday...demanding the Lender move forward on this....asking for a letter of approval, etc.

I would not contact the Seller directly. They are represented by their own agent. You need to work through your agent on this.
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0 votes 15 answers Share Flag
Sun Feb 10, 2013
Scott Godzyk answered:
the key is no contingincies followed by teh least amount of contingincies. The banks will choose a lower offer that is guaranteed to close with no contingincies over one loaded with inspections etc. ... more
0 votes 12 answers Share Flag
Sun Feb 10, 2013
Suzanne MacDowell answered:
Have you spoken to a realtor? Are you sure the home is going to actually be auctioned off? Sometimes the auctions are put off while the bank and the owner attempts a short sale. Are you working with a realtor on the short sale? I would have them find out what's going on. If not a realtor, are you working with an attorney? Same thing, have the attorney try to find out what the situation is.

The problem is, once it's foreclosed on, they bank may not put it back on the market for years! it would really be in your best interests to try to hold the short sale together.
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0 votes 5 answers Share Flag
Sun Feb 10, 2013
Jessica Hood & Laura Roskelly answered:
Hi Britt,

They will advertise the property in the paper. The auctions are "as-is" and purchasers who did not see the home previously will not be able to access it prior to the auction (usually). One of the big auctioneers in the area is www.ajbillig.com so you might check their site for the info. There are lots of ins and outs to this type of purchase. Set a price based on a very detailed market analysis and don't go over it. Watch for terms like "subject to" that would make you liable for other loans or liens in addition to your purchase price.

If you have the cash you can get some great deals at the county courthouse steps!
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0 votes 7 answers Share Flag
Thu Feb 14, 2013
Britt Grotheet answered:
Hi again-Just wanted to give a bit more background in case it helps someone answer the question. The owner abandoned the home about a yr ago. The home set to go to auction 1x before on July 5th 2012. The seller filed
a strategic chapter 13 bankruptcy and the home was not auctioned but placed as a short sale for $379,000. The seller owes $550,000. 2 leins both with Wells Fargo. Based on what we know about the sellers lifestyle (small business owner, cars, boat, vacations, renting a waterfront home) there is some question as to the sellers amount of
Hardship. We are specutating that his resistance to communicating with the bank could be due to this.
Now can any of you look into your crystal ball for us please??? We want this house!!!
Thanks britt
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0 votes 22 answers Share Flag
Fri Feb 1, 2013
Akil Walker answered:
Hello Bellie25200


There are several programs that might fit your criteria. What are you looking to purchase i.e. a house, town home, condo etc. There is this program as well.

Homeownership for Individuals with Disabilities is a loan targeted to borrowers or a son or daughter) with a physical or mental impairment that substantially limits a major life activity. (Dependence on drugs or alcohol is not an eligible disability.) Available statewide. ... more
0 votes 4 answers Share Flag
Thu Jan 31, 2013
propertiestorent answered:
Hi Gena, It depends on where you are looking. Most people know that many renters have credit issues now a days. You have good credit and a good rental history so that counts for a lot. Based on what you stated it should not be too difficult for you to find a rental.

I will be able to help you with a rental, are you looking to rent in Odenton?
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0 votes 3 answers Share Flag
Tue Feb 26, 2013
Jessica Hood & Laura Roskelly answered:
Hi Carol,

Are you planning on renting or buying? If purchasing, I'm not aware of any areas (other than some condo buildings) that would put a restriction on the number of pets. If you are renting, the difficulty would be finding a pet friendly Landlord. We do that all the time. Visit us on-line to view all homes for sale and rent homes and let us know if we may be of assistance. ... more
0 votes 5 answers Share Flag
Fri Jan 25, 2013
Akil Walker answered:
Hi Chrsttal,


You might be eligible for a FHA loan depending upon your financing. if you need a referral to a loan officer let me know. if you 5% you might be able to do conventional loan. ... more
0 votes 10 answers Share Flag
Mon Jan 21, 2013
Jackie Grove answered:
The transaction is just like any other except the bank is the owner. I haven't seen any houses in Anne Arundel County for $2000. What area were you looking in?
0 votes 10 answers Share Flag
Mon Jan 21, 2013
Robert McArtor answered:
Absolutely. Please feel free to contact me through my website below and I will get started this evening. Thank you!
0 votes 5 answers Share Flag
Sat Aug 24, 2013
Ariana Loucas answered:
Dear Investor2011,
You ask good questions. I work with Ryan often and know that they do charge for all the upgrades and in the end, you could very well spend a great deal more the the base price. Were you interested in only purchasing the basic floor plan and features? If not, you could find yourself in a negative equity position with too many added options. If you can purchase a house that is a resale for investment, I'd suggest that over purchasing a new construction for investment purposes. As far as your question about 5yrs from now, that is one that cannot really be answered. After all, where rates will be, and values, and what administration will be in office as President will change which leaves your question impossible to answer without a crystal ball. Prices for rent are running $1800-$2200 there now. I hope this helps and that you can find a home that's a resale to better maximize your investment.
Regards,
Ariana Loucas, RE/MAX, CDPE, SFR
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0 votes 4 answers Share Flag
Sun Mar 3, 2013
Alba answered:
Approximately 3,400 by Census in 2010. I believe there are more Spanish speaking people in this Area that were not able to participate in this Census for different reasons. I truly believe this section of population is not well served. I want to make a difference for them! ... more
0 votes 4 answers Share Flag
Mon Dec 3, 2012
Ron Thomas answered:
probably all of them:
the word we see is that most have a DOM of about 80 across the Country.
0 votes 5 answers Share Flag
Fri Nov 23, 2012
Richard Iarossi answered:
The compensation to the Brokerage is listed in the Multiple Listing Service. For a rental, it's usually all, or a portion of the first month's rent. The Brokerage then shares that with the agent based on their split. ... more
0 votes 3 answers Share Flag
Thu Dec 13, 2012
Fred Glick answered:
Sorry, HobbieCat,

This would never go through the Fannie Mae or Freddie Mac computer approval. Manual overrides are non-existant.

You can hopefully get more income for your rentals and show a bigger cash flow or sell and get under 45% and try again.

Good luck!

Fred
... more
0 votes 7 answers Share Flag
Fri Oct 19, 2012
Mack McCoy answered:
Nope, not for a minute.

Think of it this way - we have elections every four years, half the people are happy with the outcome and the other half just move on.

If elections affected the real estate markets, we'd be able to look at a graph of real estate history and immediately see where the elections took place. ... more
0 votes 2 answers Share Flag
Mon Feb 4, 2013
Richard Iarossi answered:
You should call the Anne Arundel County Police for the most accurate crime statistics. I would never rely on statistics quoted over the internet.
0 votes 4 answers Share Flag
Wed Oct 10, 2012
Jimmy Noble answered:
That property was not available as I just looked it up. Are you looking to buy or rent? I can have one of my agents with The Noble Group of Execuhome Realty assist you in your search for a place.

Please call Jimmy Noble at 1-888-205-7773 ext.6
... more
0 votes 1 answer Share Flag
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