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Wylie : Real Estate Advice

  • All59
  • Local Info5
  • Home Buying22
  • Home Selling3
  • Market Conditions2

Activity 39
Sun Sep 6, 2009
T.E. & Naima Sumner answered:
The home appraisal is something the buyer's lender requires. It is paid for by the buyer upfront most of the time. It usually runs about $350 to $450 if it's an FHA or a VA.

There are a few lenders that are offering to pay for it to entice you to use their services. Let me know if I can help you.

Naima
214-289-8555
Naima@Sumner-Realty.com
... more
0 votes 2 answers Share Flag
Sat Oct 10, 2009
answered:
Yes.
The Fair Credit Reporting Act was changed to accommodate 'shopping'.
However, as mentioned in your other question..... It is usually not necessary to have your credit pulled to shop.

Let me know if I can answer any follow up questions!
... more
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Tue Aug 11, 2009
. answered:
Hi Kristina!

Great question! It depends on your mid scores. We usually find that one comparison can be beneficial, however, if your midscores are borderline, having your credit pulled could really create a huge hurdle in being able to actually qualify for the loan because your score goes down. I spoke with someone last week who had 3 companies pull their credit, and now it is too low for that reason. My recommendation would be not to go with a company that sends it out to different banks to get a quote, as each bank will pull your credit. Go with a trusted lender who has a history of closing deals on time as well. Your real estate agent will likely have relationships with one or a few. If your not connected with a Realtor in Wylie, I will be out at a listing that way Thursday and would love to meet you and see if I would be a fit for you.

Nicole Arenas, Realtor
Top Producer
William Davis Realty
nicolearenas@ymail.com
... more
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Sun Aug 2, 2009
Janine Love answered:
Now is a GREAT time to buy a foreclosed home. You will get a short 5-10 inspection period in which, if there are too many repairs needed to the home, that you can pull out of the contract and still retain your Earnest Money. It sounds like you current agent is fearful and does not understand enough about selling foreclosed homes. Buyers agent DO receive a commission, and it should be listed in their MLS how much they will receive. Foreclosures are normally sold AS-IS, so make sure you do a very good visual inspection prior to placing an offer in on one, as the bank normally states that buyer inspections are for "Informational Purposes Only". ... more
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Fri Jun 12, 2009
Stacey Wyatt answered:
Bettyboo,

I would need to know a little bit more about your situation to completely answer this, but let's give it a shot anyway.

USDA - Your household income must meet certain guidelines and this type of loan may only be used for homes in eligble rural areas. You can enter you City, State and Zip Code at this website, http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do, to determine if you are eligible.

Vendee - Vendee loan financing is available on VA-Owned Homes. Unlike VA Loans, you do not need to be a Veteran to obtain Vendee financing. Vendee loans have extremely low fees as well as low, or even no, downpayment requirements which is very attractive. The only challenge here is that you can only by a VA Home, which are much fewer in number than a traditionally financed home. You would need to meet with a Real Estate Agent familiar with VA Homes to gain entrance into these type of homes.

FHA - This seems like the best choice given what we know about your situation. FHA sets a limit on the purchase price of a home, based on your state and city... this gives you a much wider variety of homes to choose from then the USDA and Vendee homes... FHA only requires 3.5% down... so if you were buying a $100,000 home you would only need $3,500 for the downpayment (Guess I didn't need to explain that to a teacher;). In Georgia, it is pretty common to get the Seller to pay for your Closing Costs, but you would need to confirm if that is standard in your area.

Couple other things at play: 1) You must take advantage of the $8,000 First Time Home Buyer Tax Credit before 12/1/09. You need to allow at least 45 - 60 days to close once you have an accepted contract on your home. So that gives you a timetable. 2) In Georgia, the State also provides an additional $1,800 Tax Credit... not sure about Texas, but it is worth researching. 3) Rates are still low, but I would act sooner than later... they have climbed the last couple weeks. I would get pre-approved by a Lender and lock into a rate while you look.

What an amazing time to buy!!! Good luck and best wishes.
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Mon Jun 15, 2009
answered:
Bettyboo....

I always recommend that folks ask friends/family/co-workers for a referral to someone they used if they had an awesome experience.
Do you know anyone who has bought a home recently?
Otherwise, you can just pick a couple of people who will go over your good faith estimate from the bank with you.... without tying to push you for an application or try to pull your credit.
An honest loan officer will share a little time with you to see if there is a comfort level there for you.

Please let me know if you have any follow up questions!!!

Tom Burris
Mortgage Banker
DallasLoanGuy.com
... more
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Tue Jun 2, 2009
Erin Birmingham answered:
No, that is not accurate. First of all, find out what your local FHA sales price limit is. Every market is different. Here in Memphis, someone getting an FHA loan can go as high as around $280,000.

The reason I say find out about an FHA loan is because the down payment is only 3 1/2% of the sales price. FHA loans are great loans and the rates are great right now. If you don't have 20% to put down on a home, try and get an FHA loan so you only have to put 3 1/2 % down.

Good luck!
... more
0 votes 5 answers Share Flag
Wed May 27, 2009
Jennifer Rock answered:
I personally have a listing in Wylie, in the past 2 weeks, things have started to speed up and there are more buyers out there. As in any market, the key is to price correctly in order to secure good showing numbers. Being a landlord can encompass a lot of little and big issues that can be a tremendous amount of work. I would love to discuss your options further so that you can make the right decision. Feel free to contact me at 214-708-0919 or e-mail me at the address below

Jenn Rock
Prudential Texas Properties
jenn.rock@prurealty.com
... more
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Mon May 25, 2009
T.E. & Naima Sumner answered:
Per the MLS, there is only one house listed for sale on Whitley. I haven't driven by the street, but if they are not listed, that is very likely the reason they are not sold yet.

Naima
214-289-8555
Naima@Sumner-Realty.com
... more
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Wed Apr 15, 2009
T.E. & Naima Sumner answered:
Hello Kristina,
Our MLS system doesn't keep listings that long. May be your CPA can tell you if you can get away with the tax assessed value that year. I can provide that for you.


Naima
214-289-8555
Naima@Sumner-Realty.com
... more
0 votes 4 answers Share Flag
Wed Apr 15, 2009
. answered:
Kristina,

If your trying to see what someone paid for the house in 2001, unless it was sold through the MLS, it will be difficult to obtain if you don't ask the seller's. To see the tax assessor value in 2001, which is usually different than the market value and sales price, you can go to the county's county appraisal district website and look the property up by address, then typically you will be able to see the previous years tax assessor value.

I always save my clients money! I would be happy to walk you through the buying process and help guide you along the way!

Nicole Arenas
... more
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Sun Sep 28, 2008
NonRealtor answered:
What if you lose your job? The president has finally admitted that the economy is in serious trouble. I would wait. Good Luck
0 votes 4 answers Share Flag
Wed Jun 11, 2008
Mark Chovan answered:
The best thing to do is get a Comparative Market Analysis on other homes sold in the area. The report will give you specific information to analyze the home you are referring to.

You can get a report through my website, and others. Also you can view homes free using our MLS searching tool on line. ... more
0 votes 8 answers Share Flag
Sun Jun 7, 2009
Dallas Texas answered:
FYI don't purchase a home from a builder, seller, listing agent, UNLESS you have your own realtor working on your behalf. We offer a Dallas home buyer rebate program an earn up to 50 % of our commissions.

About Bowen
leading creator of new home communities in major markets nationwide, including Florida, Texas, metropolitan Atlanta and Charlotte, North Carolina. Builder Magazine has recognized Bowen Family Homes as one of America's 100 fastest growing builders and one of the top 75 builders overall in the nation. But Bowen Family Homes is still the family-owned builder who knows that family matters most.

Contact my office if we can offer any further assistance, I am also a Dallas home mortgage loan officer
972-699-9111
Lynn
911@lynn911.com
http://www.lynn911.com
... more
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Mon May 19, 2008
Dallas Texas answered:
I believe I answered that question in your previouse post, however based on the location of where the house is located if it backs up to the property that resale value will be effected other than that no impact. Wylie is a small city, like many others property values are not effect. Drive to Coppell see the relationship of homes close to a business or senior center, Coppell homes for sale has increased in value of approx. $20 to $30 sq. ft over the past year. ... more
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Sat Feb 7, 2009
Dallas Texas answered:
We offer up too a 50% buyers rebate program from our sales commission. NEVER purchase a home from a builder, seller, listing agent UNLESS YOU HAVE YOUR OWN agent that represents you . We answer sooooo many calls, emails daily there buyers/ tenants made huge mistakes toooo late for realtor tooo become involved.

I like Wylie I think it's a GREAT community, NOT knowing all the particulars difficult to state if it's a good deal I would need to know more

You will need to be pre-approved prior to submitting an offer on a home. I have seen some great new construction in that area foreclosures below market value.

Contact my office if I can offer further assistance
Lynn
972-699-9111
911@lynn911.com
http://www.lynn911.com
... more
0 votes 6 answers Share Flag
Sat Jul 5, 2008
T.E. & Naima Sumner answered:
Hi Jamie,

Prices are never set in stone. Everything is negotiable even with builders. If you go to a builder without a Realtor, and they know that you are buying for the first time, most of them will take advantage of you and make you pay sticker price.

Get yourself someone that will represent you and not the seller or the builder. It doesn't cost you anything.

Naima
... more
0 votes 15 answers Share Flag
Mon Dec 17, 2007
Chris answered:
Matt,

I am in Tallahassee FL. I am sure you could just ask one of the Top Agents in your area.

Why would you not want to get a CMA from a professional?

Chris
0 votes 16 answers Share Flag
Fri Aug 21, 2009
Melissa Hailey answered:
I would recommend that you hire a Realtor to work for you in your transaction. There is no cost to you for buyer services (the builders pay our commission). Having a Realtor act as your buying agent will ensure that you get a fair price and can advise you of any potential problems as well as help you naviage the various conract terms.

Specifically, in answer to your question, the current asking price for comparable homes in Woodbridge is $85 p/sf. In recent past, comparable homes have sold for an average of $82 p/sf.

If you need further information, please feel free to call me at 214-418-0180, and I would be happy to discuss this information with you further.
... more
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