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Cypress : Real Estate Advice

  • All54
  • Local Info6
  • Home Buying10
  • Home Selling2
  • Market Conditions1

Activity 31
Wed Oct 8, 2008
Jeremy Lehman answered:
Contact an attorney right away. As you have probably heard, builders have been hit the hardest in this big mess. The longer you wait, the less likely you will see your money, if there is still a chance.

Jeremy Lehman
Century 21 Beachside
... more
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Wed Aug 20, 2008
Sharon Parker answered:
Thu Jun 26, 2014
Vicki Lloyd answered:
It's not unusual for the mortgage broker to provide the appraiser with a copy of the purchase contract. (I don't think they should, but my opinion doesn't count!) Remember, the mortgage broker has an interest in getting this appraised for the amount that you offered. That appraisal is for the protection of the lender's interest in making the loan, and is not for your protection.

How do you feel about the value? Is it worth (to you) the $407K that you offered? Did your agent run comps and justify that value to you?

If you love the home, and can afford the payments, don't worry about the appraisal. If you are planning to stay in the property for 5 - 7 years, you will be ok. The important thing is to buy the house that fits your needs, wants and budget. An appraisal is really an opinion of value, and it would be very rare for two appraisers to find the exact same value without knowing the target that they are aiming for.
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Sun Oct 11, 2009
Vicki Lloyd answered:
If it is true that the bank approved the $407K price, then you know that's the maximum you have to pay, unless it goes into multiple offers.

How many homes have you seen? Is this the best one at that price? You should have your agent run the comps for you and come up with an independent value, then make your decision about what to offer! ... more
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Fri Aug 1, 2008
Margaret T. Hatcher answered:
This will depend on the neighbothood. Not all home values have decreased. What makes you feel they have where your home is?
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Tue Jul 22, 2008
Joe Homs answered:

Cash just makes you a stronger buyer and the rest is what I call "A willing buyer and seller," agreeing to make a deal. You can always ask for closing costs, improvements, or other espenses, but it all comes down to the bottom line with the seller. What are they going to get at the end of the day. If you put $150K down on a condo worth $200K and ask for 30K in closing costs the seller will net $170K. If I have a buyer that puts down 3% and does not ask for closing costs, then the seller will net $200K. If you were the seller which deal would you take?

Joe Homs
Realty Partners
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0 votes 8 answers Share Flag
Fri Jul 24, 2009
Michael Barron answered:
Hi there Chrisine, Please call me today , I have Hundreds in this area with some Great deals ,
Kind Regards
Michael Barron
First Team Real Estate
(714) 552-6817
0 votes 5 answers Share Flag
Wed Aug 20, 2008
Lisa Mordecai answered:
I am thinking that is the amount that is owed on the property at present. You should do diligence on the purchase of a bank owned property as you would any property. You should hire a certified home inspector and have any inspections you deem necessary to assist you in your decision. Even if the property is offered as is with no repairs made by the sellers. You can certainly make an offer contingent on inspections. ... more
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Wed Mar 5, 2008
Joe Homs answered:

You typed the zip code in error for Cypress, but to get your answer you can log onto my website and click "Community Info" then Cypress, then "crime stats." Let me know if you need anything else, my numbers are on the website. ... more
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Mon Dec 31, 2007
Rebecca Chambliss answered:
You will have a tax deduction, which is the difference from renting, however I would advise you to look at the longer term. I personally think it is better to purchase a home you can truely afford long term. ... more
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Thu Jul 17, 2008
Sandra Carlisle Ayers answered:
Hi Wendy,

Doing a quick search, it looks like the average is $1.69 - $2.00 a square foot. I have a Commercial Specialist on my team that can answer any other questions you might have. We are easy to reach at (949) 278-4807. ... more
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