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West Des Moines : Real Estate Advice

  • All28
  • Local Info1
  • Home Buying10
  • Home Selling2
  • Market Conditions0

Activity 14
Mon Mar 11, 2013
Rhonda Currie asked:
I was just looking at Coachlight Dr. but was interested in more than just the two floor plans shown for the 2-bedroom units at Broadmoor as well.

This question was asked from this p...
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Thu Jun 20, 2013
Michelle Cook answered:
Hi Jusint....Great question. I have been overwhelmed with the number of buyers looking to BUY townhomes this year. I personally listed a townhome in late January, and it sold within 3 days of listing the first buyer who saw it. Another townhome which I listed this year sold in about 3 weeks. I have two townhomes pending a sale currently...and lots of buyer's wanting to buy townhomes. Interest rates are low...there are serious buyers out there looking to buy. Of course, in a rental situation, you assume some risks -- which is something to consider. In todays market - in West Des Moines, you may want to consider selling your townhome, as opposed to renting it. Let me know if I can be of further help. You can contact me at 515-528-3359. ... more
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Tue Feb 19, 2013
Steve Booth answered:
There is some corporate rental activity which is mostly controlled by Property Management Companies is this market.

Mortgage lending rules are in a constant state of flux. The answer to your question is "maybe". I can put you in touch with a local mortgage loan originator that I have worked with for some time and trust. Please contact me directly and I will share that information with you.
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Mon Mar 19, 2012
Scott Godzyk answered:
It depends what type of contract you are looking for? A contract for deed? Land contract? or to list it for sale? if you have a current mortgage on it it needs to be paid off before you can transfer ownership in most cases. if you want to add some more info please come back and post it. Finding a listing agent experienced in what you want to do will be crucical. ... more
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Sun Mar 20, 2011
Suzanna Woodhead answered:
It is impossible to answer your question without more information. You need to ask your agent(or find a local agent) to help you run a comparative market analyzes on the property. This will give you the information to make the best offer. ... more
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Sat Nov 13, 2010
Dan Tabit answered:
I'm sorry for your situation. Your contract is the place to go for answers to this question. If you are not confident in reading and understanding it, start with your agent and if still not sure get an attorney.
Chances are your earnest money is primarily what is at risk. You may have legitimate exits through other addendum such as inspection or financing contingencies. Read over your rights and obligations and discuss your options with your agent. I hope things go better for you.
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Sat Jan 5, 2013
Dianne Hicks answered:
You know the market in Cali but perhaps not as much in Des Moines. Check out is the market in an incline like we are? You know interest rates are great and there is talk that they will be going up. You are in the perfect situation to really look, taking you time to find something that suits you. I would take advantage of that. It is really difficult to see people in a time frame that they end up making a decsion that they are settling for instead of waiting for what is right for the,.

Good Luck!!!
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Tue Dec 1, 2009
Michelle Price, ABR,CNE,CRS answered:
Thank you for your question...I've just joined Trulia as a real estate Professional and would be happy to answer your question. First, there is no exact dollar figure on how the 6 lane Hwy will affect your value. What you need to realize is, there will be less buyers interested in a home that is near or backing to a busy street. Most often when I'm sitting with my buyer clients and looking at homes on the MLS, I will mention that this home backs to a busy street and the buyer will say, "I'm not interested" and we move onto the next home on our list. So, that said, the pricing of your home needs to encourage buyers to see your home. Which means your home has to be priced very competitively against the comparable homes on the market.

To answer your other question, about updating... it depends. If you price your home knowing that it needs updating, you will attract buyers interested in a lower price and updating themselves. On the other hand, if you update and price higher (since you did put the money into it), there is no guarantee that 1) the prospective buyer will like your choices and 2) the buyer will "reinburse" you for the money you put into it. If you are going to live in your home for another 10 years and would enjoy your updates, then I'd say absolutely, go for it. More than likely, the mechanicals will fail and need replacing in those 10 years. But if you are not going to sell soon, there is no reason to "fix what's not broken."

Hope that helps.

Michelle Price, ABR, CRS, CHMS
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Wed Apr 15, 2009
Dana Schuster answered:
A first time buyer is defined as someone who has not owned a home in the past 3 years. if your husband fits this criteria,you can qualify.
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Tue Mar 31, 2009
Tony Grech answered:
Yes this is normal. The key in verifying income for the purposes of qualifying for a home loan is CONSISTENCY. Now if someone is a salaried worker we know for sure what their income will be every week. For an hourly or commissioned worker, income must be documented as stable or increasing for a period of 2 years. Lenders figure that is a long enough track record to look at to make a determination. ... more
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Mon Mar 23, 2009
Beth Krantz answered:
Right now you probably have more options than ever. My initial question for you is, Are you sure your mortgage IS assumable? If you know you have an assumable loan, then there is some validity to your plan. However, a buyer still has to qualify to assume the loan. With rates today between 4.5 and 5%, there MAY be a limited pool of buyers willing to assume a higher rate... but you don't know unless you try. Often times agents omit that a loan can be assumed.

With your combined current incomes, you have plenty of options available for purchasing. Depending on what you are looking for, every area of the metro will have opportunities.

If you are looking for agents with a lot of experience, a terrific working knowledge of the market you will beselling and buying in as well as the respect of other agents as well as our clients, I would be happy to suggest meeting with Patrick Murphy and myself. I am including our website link below. We are in the top 5 agents in the market and ended 2008 with over 20 million dollars in sales. If you are interested in more information, send me an email and I will send you our resume. We are ocne of the only teams in town that employ 2 full time assistants as well as a graphic designer and a webdite designer independant of our company.
Combined, we have over 55 years of real estate experience.
Beth Krantz
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Fri Feb 19, 2010
Jacqueline Clarke answered:
Hi Andreas,

The time limit depends on a few factors:

1. The type of chapter filed,
2. Whether your husband was self employed or w2;
3. Why he resorted to bankruptcy - was it due to a medical event?

You may be able to get a loan 12 months after the bankruptcy (BK)is discharged as long as you have re-established a positive payment history. However, the BK must have been due to an extenuating circumstance, i.e, sudden illness, natural disaster, etc.

You will have to write a letter of explanation to describe what happened and why it was an isolated event.

Also, do you need both incomes to qualify? If not, then you can possibly get the loan on your credit and income. If he makes more money and you need both incomes then you're back to explaining the bk and hoping you'll find an underwriter (the person who reviews your loan application and makes the final decision for the bank) who will go outside the box and approve your loan.

These exceptions can be made by the bank and not all banks will consider a loan soon after BK. You just need to find a mortgage broker who believes in your application and will try to find a bank that will approve a loan based on your circumstances.

Also, banks will make exceptions if other areas of your application are strong. For instance, low debt to income ratios, low loan amount versus the equity (value) of the property, large down payment, strong work and rental history. They consider the whole kit and kaboodle.

Ask your mortgage broker to research bank/lenders that will lend to borrowers with recent BK's; they're out there but be forewarned the rates will be higher than the average 30 yr mortgage.

Good luck,
Jacqueline Clarke
Down Payment Assistance Specialist/Loan Officer
Enterprise Mortgage Group
Winter Park, FL
Direct: 407-739-3853
... more
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Thu Apr 14, 2011
Wolvers Steve answered:
Yes it is I am seeing people just go to auvtion and some have not paid for over 2 years, but that said if he is the only one on the mortgage he may sign away his homesteading rights and give them a deed in lou if he wants to get her out. not sure on that I would have her discuss all the options since she was not married legally just common law as well as not on the mothgage or title I would hate to tell her she has the same rights as a home owner on title without her checking with her attorney ... more
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