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Anne Arundel County : Real Estate Advice

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  • Local Info3
  • Home Buying8
  • Home Selling1
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Activity 262
Sat Oct 6, 2012
The Roskelly Team answered:
Hi Kristian,

I so hope you have a real estate agent guiding you through this process. It shouldn't be nerve wracking and he or she should be answering questions like this for you. Underwriting is going to review the property appraisal and make sure there are no conditions, they are going to review all of your financial information (which will already have been checked by your loan officer and processor) and they are going to make sure that your profile meets all requirements of the lender or investor. Some of the things that they can come back and ask for are verification of funds if there are any large or unusual deposits or withdrawals to your account in the past 30 days. They are going to make sure you have adequate cash reserves for your type of loan and they will want to know that your employment has been verified and that there are no substantial changes to your debt such as new car or credit card balances. Best of luck. ... more
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Wed Nov 5, 2014
Richard Iarossi answered:
This link is the best way to search for property taxes on any home

http://sdatcert3.resiusa.org/rp_rewrite/
0 votes 3 answers Share Flag
Fri Mar 22, 2013
Fred Glick answered:
All lenders are different. Ask the processor to give you an approximation.
0 votes 3 answers Share Flag
Thu Feb 20, 2014
Evergreen Road Management answered:
Oh my gush is this normal!!!!
Everything is changing in your life, you are doing the unknown, even if you are just moving across the streets is would be completely different. Most likely you are not moving that close, so the you are worried about the demons you do not know, the house itself, will you like it, did you spend enough time viewing it, what about the neighbors, what about the schools, what about traffic, how long will it really take to go to the store when you run out of something.
The inspection came back fine, so you can be pretty sure the house will not collapse once you get there. LOL.
If you think you might the right decision when you choose this house, you most likely did. Try not to worry!!
This worry will last till a month or so after settlement, but it will fade, and you will forget all about it.

Enjoy your new home!!!!
... more
0 votes 9 answers Share Flag
Fri Sep 21, 2012
The Roskelly Team answered:
Hi SMS,

Check out our team on line at www.FortMeadeHomes.com or www.PineyOrchardHomes.com. Internet coverage is key and we've got the best Google rankings of any local site! We have an unbeatable history of sales, rentals and top notch service. ... more
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Tue Nov 12, 2013
My NC Homes Team answered:
Typically repairs are up to you unless you get an FHA 203K loan which would give you some additional money (along with many rules to adhere to) to repair your home. This is a specialty loan product and not every lender handles them but I'm sure there are some who do in your area.

You're obviously looking at foreclosure properties, and honestly as someone who helps at least 10-15 buyers a year purchase foreclosure properties, I hope you'll read the article I posted below. Trust me Foreclosures are rarely a great deal. Most are a fair deal at best after doing all the repairs/improvements necessary. It's often easier to buy a better home that's not being sold as-is.
... more
0 votes 9 answers Share Flag
Fri Sep 21, 2012
Amy Menrad answered:
I can research that for you. Call me at 410 255-7613 or email AmyMenrad@ChampionRealty.com
0 votes 6 answers Share Flag
Mon Sep 17, 2012
Brian Ferry answered:
These are factors regulated by specific state or local laws. In general , rentals do not need home inspections because the lease will be for a limited time.
0 votes 1 answer Share Flag
Mon Sep 10, 2012
The Roskelly Team answered:
Sure you can. That home would just have to meet the minimum FHA requirements.

A short sale is a sale where the owner owes more on the home than it is worth. They attempt to sell it at current market value and once they have a contract they go to their mortgage holder(s) and ask that they accept the market value to pay off their debt in full. So the bank pay off is "short". Depending on how many lenders are involved this review process with the mortgage holders can take 45 days to 9 months plus. And at the end of the review process the answer from the bank could be a counter-offer, an approval or they could decline the short sale.

You want to make sure that both your agent and the seller's agent are knowledgable on short sales and preferrably that that have involved a legal firm to handle the negotiations.
... more
0 votes 7 answers Share Flag
Thu Sep 27, 2012
Akil Walker answered:
Hi Kristian,

I would suggest that you talked to lender to determine what, if anything you will need to do prior to obtaining approval for a loan to purchase a home. Find an agent you & your boyfriend feel comfortable working with and then search for your home.

Best of luck
... more
0 votes 10 answers Share Flag
Fri Nov 2, 2012
James Gordon ABR SFR SRS answered:
It all depends on how ago the short sales were and if one of them was covered by a VA loan. Regardless of how long ago your short sale was if one of the loans was a VA backed loan they want the shortage back before you can use the VA loan insurance program again.
Ckeck with a good LO in your area to get preapproved for a loan.
... more
0 votes 4 answers Share Flag
Thu Sep 6, 2012
Mark Jackson answered:
There are many programs available the Good Neighbor Next Door Program
http://nw.yourkwagent.com/atj/user/AdditionalGetAction.do?pageId=380499

Also there is the Home Advantage Program that can give you up to 4% down on a 0% interest, 30 year deferred loan.

No First Time Homebuyer Requirements
Primary Occupancy Only
No Acquisition Cost Limits
No Recapture Provisions
Income Evaluated on Applicants Only – Not Household
Income Limit up to $97,000 for Applicant Income
No More Running out of Funds
Better Market Rates – Rates Now Evaluated Daily
Down Payment and Closing Cost Assistance of up to 4%
0% INTEREST RATE AND NO MONTHLY PAYMENT ON ASSISTANCE!!!!!
No Reserves or Liquid Assets Required or Limited
All Buyers Using this Program Must Attend the Home Buyer Seminar
Home Buyer Seminars every Saturday and Two Wednesdays a Month!
On July 2, 2012, the Washington State Housing Finance Commission anticipates releasing the new Home Advantage Program. The Home Advantage Program replaces the House Key Program. This new program does not use tax-exempt bonds. It is a daily priced open market program which also provides down payment assistance in an amount up to 4% of the first lien loan amount.

The down payment assistance will be offered at 0% interest with deferred payments for 30 years and is due when the borrower sells, refinances or no longer occupies the home. No assessment of need or verification of liquid assets is required in order to receive the second mortgage.

Because tax-exempt bonds are not used in this program, the IRS guidelines followed in both the House Key Program are waived as per the Home Advantage Program Manual. There is no first-time homebuyer requirement, acquisition cost limit, business use of home limitations, IRS property restrictions, IRS forms, or recapture provision.

The income limit of $97,000 is applicable statewide for both the Home Advantage first and second mortgage.

http://nw.yourkwagent.com/atj/user/AdditionalGetAction.do?pageId=380755
... more
0 votes 5 answers Share Flag
Wed Jul 22, 2015
The Roskelly Team answered:
Hi Kristian,

Once you are approved you are approved unless something changes in your financial picture such as a decrease in income or an increase in debt.

However, with interest rates at an all time low you will want to start looking right away to take advantage of that savings. You will lose buying power if the interest rates go up.

Best of luck on this adventure!
... more
0 votes 10 answers Share Flag
Wed Aug 29, 2012
Margaret Tucker asked:
Im lookin 4 a 3 bedroom,section 8,pet friendly,fenced yard,Single Home Imed,Im Out of time n Only have 2 day n tomorrow,$1450 is my limit,Thank u n God Bless!!!!!!!
0 votes 0 Answers Share Flag
Sun Aug 5, 2012
Annette Levinson answered:
You should have your realtor speak to the seller. The seller should be selling the house for the appraised amount. If you went FHA the appraisal will stay with the house for 6months so that the seller will have the same problem with another buyer. ... more
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Wed Sep 12, 2012
Angela K Sams answered:
I have a website that I use. I live in Edgewater, MD. Try googling "crime 21403". Or text me..703-635-8249.
0 votes 4 answers Share Flag
Tue Dec 10, 2013
Tony McMahon answered:
What is your time frame , and what price range are you looking in ??

Feel free to use my website as well to search
http://tmcmahon.exitlandmark.com/
0 votes 6 answers Share Flag
Tue Jul 24, 2012
The Roskelly Team answered:
HFbat,

The last sale in that neighborhood was in August of 2011 for $194,900. It was a 3 bedroom 1 bath with hardwood floors, an updated kitchen and an "as-is" pool The total s.f. was 1292. If you are interested in a valuation for your existing home or one you are considering purchase give me a buzz! ... more
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Tue Aug 25, 2015
Alison Hillman answered:
Hi there,

Which area are you looking at? I'd be happy to help you research if I am off!

http://www.trulia.com/real_estate/Glen_Burnie-Maryland/schools/

Cheers,
Ali, Community Manager ... more
0 votes 2 answers Share Flag
Sun Jul 15, 2012
The Roskelly Team answered:
Hi Elvis,

Unlike other areas of the country we do not use cost per s.f. as a measure of pricing around here. Rather we use a comparitive market analysis method which is based on the recent sales in the area where you are looking.

In a varied market like Annapolis you are going to find a wide range of pricing including waterfront and water privileged, townhomes and condos. If you are focusing in on an area and would like some general guidance I'd be happy to assist you.
... more
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