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Darnestown : Real Estate Advice

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  • Home Buying1
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Activity 3
Mon Aug 25, 2014
Bill Eckler answered:
Karen,

The pricing of anything is always associated to the law of "supply and demand." Simply stated, if buyers weren't willing to pay the higher price, sellers would be forced to make an adjustment.

Without knowing the area, one could only speculate that there are desirable features that are attracting buyers to pay the higher price in Potomac. This could be related to location, proximity to employment, amenities, social, recreational, & cultural opportunities etc. Buyers are often quite willing to pay a little more for a higher quality of living that one location offers over another.

Hope this is helpful.

Bill
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Fri Sep 12, 2008
Fernando Herboso answered:
Most septic fields are located in the backyard of a home. . and the value of a home should already reflect the fact that there is a septic tank in the backyard. . I'm not sure what do you mean when you say the entire backyard is a septic field ? ... more
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Fri Aug 22, 2008
Don Tepper answered:
Several things: After the borrower contacts the lender, the lender may be willing to work out some restructuring of your mortgage. However, the borrower should contact the lender as soon as possible. Waiting three months is way too long.

Selling the property. If there's equity in the property, and you can price the property at or below market value, you should be able to sell. If there's substantial equity in the property, you can sell to an investor, who typically will be able to buy in 10 days or less. (Note: If you're within 20 days of foreclosure, that last one does not apply. Instead, you'd have to contact a foreclosure consultant--which you really should do anyway--and the foreclosure consultant will provide the names of some investors who might purchase the property.)

I'm not a lawyer--so check with a lawyer--but I believe that filing for bankruptcy can delay foreclosure. However, if you fail to comply with the payment terms of the bankruptcy, that opens up your home to foreclosure again.

Hope that helps.
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