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Home Buying in Durango : Real Estate Advice

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  • Local Info1
  • Home Buying18
  • Home Selling5
  • Market Conditions5

Activity 15
Sat Mar 23, 2013
Charles & Mary Rigby answered:
No modulars or manufactured homes are allowed in this subdivision. I do have other lots available that will allow manufactured or modular homes. I will e-mail you details on those lots that will allow manufactured/modular homes. Mary Rigby 970-946-4975 maryrigby@remax.net ... more
0 votes 2 answers Share Flag
Thu May 29, 2014
Kim Cofman answered:
Yes. But both neighbors would have to agree on the new boundary and a legal process would need to be followed. It's not simple, but it does happen.
0 votes 6 answers Share Flag
Thu May 9, 2013
Linda Crowther answered:
Hi, Bob -
I am assuming that your question is about what kind of "discount" would you expect to get as a buyer. So much of the offer depends upon more than just price. It is also about closing date - inspection contingency, etc.

However, cash is always "king" - even in real estate. Why? because in today's lending environment, getting a loan is an iffy thing...... especially if the "other" buyer has less than 20% down. However, with 20% or more down, and a pre-approval letter, the "other" non-cash buyer is going to be attractive to the Seller - or should I say...... as attractive as an offer that wants a discount for cash. All things being equal... if you and another buyer are making an offer at the same time, and yours is cash, while the other is loan - you probably win. But, if you are making offers at the same time as the non-cash buyer, and you want to pay 5% less for your all cash offer, and the other guy has 20% down, chances are the Seller may not be interested in your discount.

Remember - to the Seller - it is all cash. It is just a matter of how long they want to wait. Cash buyers do get discounts, if the seller needs the absolute sure thing right now. Also, the Seller's motivation is the big factor - whether it is cash or a loan.

hope the helps you a bit!
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0 votes 5 answers Share Flag
Fri Jun 6, 2014
Suz A answered:
Great question. You're probably on target with your guess that they're difficult to find at higher elevation. There is, though, a way to get better than a guess.

We're always happy to answer questions. The Realtors in Durango will do that, too.

A Realtor can help you save time. Did you know that you don't pay the buyer agent's commission. The seller does that.

Call a Realtor today and save yourself time with having the agent research homes where you want to buy.

Suz
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0 votes 4 answers Share Flag
Thu May 29, 2014
Ron Thomas answered:
There are still a lot of Sellers who think that they can put an inflated LIST Price, and that either a Dupe will come along and pay it, or that Buyers will just make an Offer and they can negotiate.
We have to deal with Sellers who think that their idea of the property's worth, is realistic!

Yes, we see this.
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0 votes 5 answers Share Flag
Fri Jul 18, 2014
Allison Fishwick answered:
I would first ask around to friends and family who you trust, and see if they reccomend anyone. If that does not work you can often times pull up local realtors and look at the different websites to get some general information about them. But most important once you meet one you will get a good idea if they are someone that you can work with. Because as you stated it is a big decision and one you want to feel confident about ... more
0 votes 25 answers Share Flag
Tue Jan 31, 2012
Leanne Austin answered:
The amount of commision that is paid out by the seller is always a negotciable item, but is decided upon at the time of the listing. Most agents will offer a price break to the seller should they (the agent) bring in the buyer. This practice I sure will vary from agent to agent and transaction to transaction.
Hope this helps you......
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0 votes 8 answers Share Flag
Fri Jan 27, 2012
John Juarez answered:
Yes, short sale prices are negotiable. Have your agent provide you with comparable closed sales in order to give a good idea of the prevailing price in the area.

Yes, you can ask a seller to pay closing costs. The short sale bank will decide whether your offer, including a credit for closing costs, will provide an acceptable net to them. If so, your offer stands a chance of approval. Or…you could receive a counter offer from the bank.

Remember that the seller is selling the house but the seller’s lender will decide the terms that are acceptable. The lender is in charge.
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0 votes 13 answers Share Flag
Fri Jan 27, 2012
Laura Feghali answered:
Hello Durango Resident,
I'm not an attorney but I don't believe that an agent MUST disclose that there are bank-owned homes on the same street or neighborhood. However; the agent should tell his client about any if the buyer were to inquire about it.

It is a matter of public knowledge if any REO homes are for sale in the neighborhood. You could find that out quite easily yourself.

Hope this helps.

Laura Feghali
Prudential Connecticut Realty
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0 votes 8 answers Share Flag
Fri Jan 27, 2012
Terri Vellios answered:
It really depends on if you are offer market value. I suggest you contact a local Broker who is family with the market you are shopping in and get an understanding of what is reasonable.

I can tell you here, in California, when a home is priced right, around market value it will sell between 95 and 97% of listing price. It doesn't make sense to take an offer at 80% when a seller can drop it 5% to 10% and reposition the home for a new set of buyers and get more money.

Each home and unique and so is your area.

All the best to you.
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0 votes 16 answers Share Flag
Thu Aug 18, 2011
Hollie Dowd answered:
I will check that out for you. It appears to have been cancelled. It still may be around. My email is holliedowd@gmail.com, and my phone is (970) 903-3276. I will see what I can do for you...Hollie ... more
0 votes 4 answers Share Flag
Fri Jan 27, 2012
David Burnham answered:
Why are they saying you can not get out? If it is not working out, I can't believe an agent will not let you out. It is up to the contract that you signed, but at some pint the contract has to expire.

If you are having a problem with the agent, you can always take it to the managing broker.
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0 votes 8 answers Share Flag
Tue Mar 8, 2011
MODUS Real Estate answered:
Hi Pam-

You could say that a loan officer or mortgage brokers compensation fluctuates. As a mortgage broker I can get paid two different ways: charging the borrower on the "front" side of the loan and calling it origination, broker fee, processing, etc., or by offering a higher rate than the "par" rate and receiving YSP/SRP directly from the lender.

For example If the "par" rate is close to 4.75% for a 30 yr fixed on an FHA loan I could offer a borrower 4.875% and the bank might pay me 1% of the loan amount for the higher rate. I typically offer this to help save my borrower fees on the front end. You need a break even analysis to determine if the higher rate makes sense or to pay more front end fees for the lower rate.

I never really know exactly what I make on a loan until it closes, but I can usually pin my compensation down within a few hundred dollars. If the interest rate is not locked then the compensation could really fluctuate with as volatile as this market is and rate lock extensions can foul things up as well.

I hope this answered your question. Feel free to call me for a quote or to discuss your question in more detail.
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0 votes 1 answer Share Flag
Fri Jan 27, 2012
Shannon answered:
It all depends on the location - In town anywhere from $200/SF to $400/SF. Pricey place but oh sooo nice!
0 votes 3 answers Share Flag
Tue May 24, 2011
Zfgag answered:
We are selling our condo in the heart of downtown. Walk everywhere! Without the 2-car garage we are asking 269K Look it up! MLS #632257
0 votes 4 answers Share Flag
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