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Toledo : Real Estate Advice

  • All149
  • Local Info10
  • Home Buying56
  • Home Selling9
  • Market Conditions2

Activity 126
Tue Jun 29, 2010
Dan Tabit answered:
It really depends on how poor your credit is and where you want to buy. There is a USDA financing program which will finance 100% of the purchase price of a home, provided the home is in an approved rurual area and you meet income and credit requirements. I would recommend you find a lender who has this program available, along with others and get pre-approved if possible. A good lender will help you if you are currently not able to buy, with a plan to get you ready at a later date. Good luck. ... more
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Fri Nov 13, 2009
Brodywood asked:
Wed Oct 28, 2009
Mehmet Tuysuz asked:
Hi. I have received your e-mail. Many Thanks. This house is at the price of $35,000. Please could you tell me how much would they cost= lawyer, deed and your commission cost and how lo...
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Tue Sep 29, 2009
Chad Boyers answered:
Sonia,

What is the address? I can check on it and let you know what the status is. Also, I could check on other similar properties that could be of interest.
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Thu Dec 4, 2014
Cindy Keil answered:
Hello,
You may be eligible for the first time home buyer tax credit, If you have not owned a home in 3 years and make less than 75,000 yr individual 150,000 family. Also there are many grant programs that are available. I would be more than happy to provide you with a couple lenders that my clients have been extremely happy with.
Sincerely,
Cindy Keil
Realtor, CDPE E-Pro
419-283-4516 or email me direct : Cindy@CindyKeil.com
... more
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Tue Feb 23, 2010
NonRealtor answered:
Hi Frances,
You can look at Trulia's Stats & Trends for your area. Good Luck

http://www.trulia.com/real_estate/43620-Toledo/market-trends/
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Wed Aug 26, 2009
Cindy Keil answered:
Hello,
I suggest you have your Realtor contact your lender and inquire on your behalf. All loans due to the complexity of new processes that are now in place as of 7/31/09, are taking longer than usual.
Good luck!
Sincerely,
Cindy Keil
Realtor, CDPE
Remax Masters
... more
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Tue Jun 29, 2010
Chad Boyers answered:
Investment properties are not my area of expertise, but I will say that Toledo has been seen by many as a great opportunity to invest. When this other agent says that a property can easily rent for $350/month, he's probably taking an educated guess based on his experience. I'm guessing that if you pay $10k for a house it will need some updating or maintenance done to it, even in that zip code. There is an agent in my office that deals mostly with the types of properties that your looking at, I'd be glad to get you in touch with him. Also, my company, The Danberry Co., does do property management. We would be glad to work with you on that end of things if you end up purchasing any properties. Good luck to you! ... more
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Thu Jul 16, 2009
Harpo73 answered:
More...Here is my analysis of 43617. (for the size house in the range 2500-3500 sq ft)

In the 2500-3500 sq ft range (the size I am interested in) there were all of 15 homes sold since Oct. 16, 2008. The last sale was 5 weeks ago on June 2. The last 7 sales were ALL in the range $53-72/ sq ft; that is the range I am interested in buying. That is the current market, it is what it is.

22 houses are on the market - which is about 1 year's supply (by scaling up the 15 sales in 9 months) in the zip and size.

BUT 12 properties (same zip and size criteria) are in pre-foreclosure default which is about a 6 month supply of houses in the zip and size range. I predict shortly a supply rate of defaults that will exceed the sales rate shortly (if it hadn't already happened). The smaller cheaper houses are not as out of balance.

PLUS, I discovered some "hidden" properties which are for sale REOs but really not listed on Trulia or Zillow or Relator.com at least 2 in this zip and size range. You have to struggle to find these.

Surely, there are skilled Realtors who know how to agressively and skillfully take advantage of this situation.
The situation is as it is and it is one where value can be acheived. Are you a Relator that wants to extract value for a SUPER-qualified buyer? If so, I want to work with you. I want specific cases where you "made this happen" before.

Also, the Miakonda Woods area in the '60 zip seems to have some similar statistics, I am willing to look there as well. I want to be in Sylvania schools but not too far out in the boonies.


Send response to south_side_of_sky@excite.com ; let's get on the success train together.


It may take a week or a year - but I will acheive my goal of buying value - looking for a team player Realtor.
... more
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Mon Mar 6, 2017
Chad Boyers answered:
Jeremy,

Some good questions. I will say that radiant heat does work just fine, many homes have it. It shouldn't matter what the size of the home is as long as there are enough radiators. There are different types of radiant heat, including hot water and electric. None seem to work much differently or more effectively than another. While the majority of people prefer forced air (mostly b/c of the ease of adding A/C), there are potential health benefits to having radiant heat. The biggest benefit is that you aren't blowing dust and particles around the house. This can be a big benefit to someone with allergies, asthma, or other respiratory health concerns.

Adding A/C in a home w/ radiant heat can be quite expensive; it will be in the thousands of dollars. I can't give you a definite figure, but don't be surprised if it's $4,000-5,000. The reason, of course, is that all new pipes/ducts need to be routed to the entire home. This takes a large amount of time to do. Some homes are easier to install the A/C than others because of the homes layout, age, etc.

As far as resale value is concerned, it will likely create a smaller pool of potential buyers, if for no other reason than some people want forced air systems. Other than that, it doesn't necessarily affect the home's value.

A separate question for you is are you working with an agent? If so, they should be able to assist you with your questions. If not, how are you planning on coming up with the right amount to offer? Who is going to take care of the negotiations, paperwork, inspection (& possible repairs), title work, etc.? There is a lot to think about when buying a home, especially if this is your first time.

Please feel free to contact me directly if you have further questions, I'm glad to be of assistance!
... more
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Wed Jul 15, 2009
Adrian Huntington answered:
Banks require sales comps that are 6 months or less. An appraiser typically gets six sales comps. If they can get six recent comps, then they will use the most recent. Obviously 3 month comps are more accurate. ... more
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Thu Jun 11, 2009
Chad Boyers answered:
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Fri Jun 12, 2009
Jody Zink answered:
Thanks for your question! The first step is talking with a lender. See if you qualify for a loan and can get pre-approved. They'll run a credit report and need to verify your income. If you bank someplace---that's a great place to start. You'll want to get a "pre-approval" letter with an amount you are approved for. Sometimes the lender can put the amount on the letter, sometimes it's best to leave the amount off. If you're not able to get pre-approved right away, lenders can help give you suggestions on how to get your financials in order so that you CAN get a loan and ultimately a home for your family. Good luck to you! ... more
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Wed May 19, 2010
Chad Boyers answered:
April,

I'm sorry to hear of the troubles you've encountered in this purchase. My recommendation to you is to talk to a real estate attorney. As agents, we're not allowed to interpret the legal meaning behind contracts, otherwise if we're wrong we can get into a heap of trouble.

One thing that I'm not understanding is that if the offer was originally accepted and addendum signed, why did the bank come back to you to see if you still wanted to buy it? You had already signed the purchase agreement, so I guess I would assume that you still wanted to buy the property. Strictly as a guess (and without knowing all of the details), I would think that if the bank caused the delay in closing that they shouldn't charge you the fee. If the delay was caused by you, then the fee would be assessed. Again, consult an attorney if the fee is brought up to make sure everything is correct.

Good luck to you.
... more
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Mon May 18, 2009
Cindy Keil answered:
If your home went to sheriff sale, the lender or lenders file a deficiency judgement and can collect in the state of ohio for up to 2 years. There will be a foreclosure on your credit report. ... more
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Sun May 31, 2009
Alma Fesh answered:
It is something you are probable going to have to eat. Do you know where the mistake was made?
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Thu Apr 23, 2009
Jim Beatty answered:
I'd be happy to help you. I'm currently working with some re-habber/investors who have been buying properties and have had experience buying/fixing/selling reo properties myself.

Please check out my resume on my website for more info and give me a call or email me. ... more
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Wed Jul 22, 2009
Chad Boyers answered:
I'm glad that you're trying to do some research before moving into the area. Your question is a little bit difficult to answer, just because there are many pockets and areas where crime stats can vary quite significantly, even with neighborhoods that are located next to each other. That being said, from what I have been able to look at, I would maybe avoid the area immediately to the south of UTMC. Downtown has some great condos, and I know people that live there and love it. That being said, it is considered an area of higher crime according to the stats. I did find condos to the west of UTMC that could work, although most of them are converted apartments. There are some nice newer (late 90's) condos that are a little higher price (not apartment style), but could work very well for you as well. I would love to talk to you and find out more info on your move to town and more details about what you're looking for. Feel free to contact me directly and we can chat. Take care! ... more
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Thu Apr 16, 2009
Jeff K answered:
Hi Michael,

Well that's a good question. I would believe that most "Traditional" homes are some variation of a Colonial. Do you have any listings that are basically the same as yours to show as examples?

Jeff
... more
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Wed Aug 17, 2011
Chad Boyers answered:
Lisa,

Unfortunately, there is no set timetable for getting responses from banks. They have their plates very full right now with the flood of foreclosures and short sales. My experience is that you will be lucky to have a response within a few weeks. I would expect it to take longer than that. Sometimes it can take months to get a response, so you need to be willing to be patient. I definitely would put a time limit on the offer, otherwise the bank could try to hold you to the contract (unlikely, but possible). Do you know what homes/foreclosures are going for in that area? It is always a good idea to do some homework before putting in an offer on a home. Do you have the paperwork for putting an offer together? I would be glad to assist you if you are not already working with an agent. If you are, they should be able to guide you and give advice. Having representation is very important to make sure that your interests are being looked out for. Feel free to contact me directly if you have more questions. I hope your Easter has been enjoyable! ... more
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