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Ypsilanti : Real Estate Advice

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  • Local Info10
  • Home Buying51
  • Home Selling1
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Activity 69
Tue May 19, 2015
Ron Thomas answered:
This would not be the fault of the LISTING AGENT; the Market is very HOT right now for affordable homes.
I do agree that you want your own Buyer's Agent; they can give you the attention you deserve, find multiple properties that suit your needs, and preview them so that you are not wasting your time.

Look for the VIEW a TRULIA VIP icon and CLICK on it: Enter ypsilanti for the CITY and you will see a lot of Realtors who are on Trulia. You can view their PROFILE and RECOMMENDATIONS, and e-mail them with questions.

Good luck and may God bless
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0 votes 7 answers Share Flag
Fri Mar 1, 2013
David Wallner answered:
Katrina,

You should be contacting one person whom you are comfortable working with on an exclusive basis. That agent has access to all the properties about shich you have questions. There are many benefits to "Buyer Agency". Get back to me for details.

Regards,

David Wallner
Prudential Snyder and Conpany
734 649-2710
david@davidwallner.com
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0 votes 2 answers Share Flag
Wed Jan 23, 2013
Val Smith answered:
A short sale is one where the title has transferred and the sales price was insufficient to pay the total of all liens and costs of the sale - the seller did not bring sufficient liquid assets to the closing to cure all deficiencies.

In layman's terms...you owe more than the property is worth, so when you sell it, you will come up "short". It doesn't have anything to do with a quick or speedy transaction, in fact, it's just the opposite - it usually takes 3 to 6 months & sometimes longer for the transaction to close.
If you do believe you will be in a short sale situation, the first thing I would suggest is hire a REALTOR in your area that specializes in Short Sales. These transactions require lots of communication and documentation between your REALTOR and your lender. If you have an inexperienced REALTOR (especially on the listing side), it will make the transaction take even longer or it may never sell. In the mean time...you are getting deeper in debt.

When you hire your REALTOR, be prepared to answer some tough questions! Your REALTOR will have you gather information about your assets (real estate, stocks, bonds, bank accounts, etc), liabilities, the amount of our monthly expenses, pay stubs, W-2's, bank statements, supporting hardship information, and more...All of this information will be submitted with your short sale package to your lender, who will ultimately have the final approval on the sale of your house.

Don't lose hope, as REALTORS, we are prepared to handle situations like yours. Just grab your hat & hold on...it's going to be a wild ride!
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0 votes 3 answers Share Flag
Mon Dec 17, 2012
Michelle Gonzalez answered:
You can't rollover the amount to the new house. You will proabaly have to pay the difference out of your pocket to avoid having to do a short sale on your current home.
0 votes 4 answers Share Flag
Mon Dec 17, 2012
jack6986 answered:
did you ever get an answer to your question? Ours was submitted to RD on Wednesday 12/12 and I hear they were 15 days behind at that point... curious if you have gotten yours back yet??
0 votes 1 answer Share Flag
Wed Nov 7, 2012
Desare Kohn-Laski answered:
I would contact a local mortgage broker & see if they can point you in the right direction. A mortgage broker should be able to tell you what the requirements are and offer you advice based on your specific situation. ... more
0 votes 4 answers Share Flag
Sun Jul 15, 2012
Don Tepper answered:
Depends on your situation. There are lots of threads addressing that. You'll find that many Realtors are opposed to it. However, in the right situation (basically, you aren't able to buy now but you will be able to in a couple of years), it can be the right decision. ... more
0 votes 3 answers Share Flag
Sun Jul 8, 2012
David Wallner answered:
Yes, BUT did you view the property location on a map? Not very residential.

David Wallner
Prudential Snyder & Company
734 649-2710
0 votes 2 answers Share Flag
Thu Mar 13, 2014
David Palmer answered:
The average days on market for listings in Ypsilanti and Ypsilanti Township range from 31 to 54, depending on the time of year.
0 votes 1 answer Share Flag
Wed May 9, 2012
Ginny Miller answered:
Hi Connie,

Unfortunately, the house you were looking for didn't appear with your question. If you'd like to respond with the address or more details so I can find the property, I'd be happy to help you.

Thanks,

Ginny Miller
Edward Surovell Realtors
Ann Arbor, MI

734-330-1879
ginnymiller.homes@gmail.com
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0 votes 1 answer Share Flag
Sun Sep 30, 2012
Glynda Sue Davis answered:
You need to contact a mortgage person.They will be abel to tell you how long it would be before you can get a mortgage.I have a great person give me a call and i'll give you his info.
Sue 734-417-9333 ... more
0 votes 3 answers Share Flag
Tue May 1, 2012
Ginny Miller answered:
Hi There!

Yes, there are a few in the area, and they can be set up to be sent to you automatically when there are new ones.

Please let me know if that would be of interest to you, and we can set it up!

Thanks,

Ginny Miller

Edward Surovell Realtors
Ann Arbor
734-330-1879
ginnymiller.homes@gmail.com
www.ginnymillerhomes.com
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0 votes 2 answers Share Flag
Thu Dec 27, 2012
Karen Paytas answered:
Having a garage is nice but not a necessity. There are alot of homes built with no garage. If you consider it a necessity purchase a property with one or build one on a property you like that doesn't have one. Some owners put in shed to store their yard equipment. It is not uncommon for there not to be a garage.

Good Luck,

Karen Paytas, GRI, CMS
Realtor
Real Living Kee Realty
586-709-8465
kpaytas@mirealsource.com
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0 votes 3 answers Share Flag
Sat Feb 25, 2012
Richard Davis answered:
I would say no. Bankrutcy kills it. Min. of 2 years to adjust. After that it looks good.
0 votes 6 answers Share Flag
Tue Jan 31, 2012
Tony Rhodes answered:
I would recommend calling the local authorities first. If they can not help you to recover the items, you may have no other recourse but to file a civil suit against him for damages; after speaking to an attorney of course. ... more
0 votes 4 answers Share Flag
Mon Aug 22, 2011
Ron Thomas answered:
I sincerely believe that we have a great fraternity:
By and large Realtors exemplify the professionalism and integrity that you need.

That is not to say that every member is five star.
If you are not happy; do something.
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0 votes 4 answers Share Flag
Tue Jul 26, 2011
Suzanne MacDowell answered:
Where did you find the homes? If it was a website such as Realty Trac it's not likely. Sometimes homeowners don't pay their Home owners association or Condo Fees and the association files for foreclosure. What you are seeing is not the asking price, but the amount due to the association. I know Michigan has been hit hard by the foreclosure crisis but that sounds a bit too good to be true even for the hardest hit areas. ... more
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Thu Nov 6, 2014
Shane Milne answered:
Yes you can - however the property must meet FHA minimum property requirements (MPR). If it doesn't, then whatever is preventing it from meeting FHA MPR's needs to be fixed prior to closing OR you need to qualify for an FHA 203k rehab loan instead of the regular FHA 203b loan.

Information on FHA's 203k rehab loan: http://portal.hud.gov/hudportal/HUD?src=/program_offices/housing/sfh/203k/203kabou
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0 votes 7 answers Share Flag
Mon Feb 21, 2011
Joseph Finnerty answered:
A foreclosed property is owned by the bank, listed by a real estate company, and the bank wants to sell it.

With a short sale, the home is still owned by the seller. The seller is having problems paying the mortgage and can't sell the home for what they owe on it. In this case, the seller gets an offer on the property and then attempts to get the bank to accept a short sale. The bank is going to be "shorted" the full amount of money they are owed on the home and the seller must prove a hardship.

In some cases, it can take the bank months to respond to a short sale offer. With foreclosures you typically get a reply on your offer within a few days.

In each situation, the homes are sold as-is. The bank won't usually do repairs on a foreclosure property and with a short sale the owner doesn't usually have the money to do any repairs.

The amount of money needed is going to depend on the loan type (FHA requires 3.5% down) plus the closing costs. I am not sure what closing costs are in your state.


Hope this is of some help.

Regards,

Joe Finnerty
484-241-1641
Long & Foster Real Estate, Inc
Lehigh Valley Office, PA
610-865-7776
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0 votes 6 answers Share Flag
Sat Apr 11, 2015
Kim Noonan answered:
Call an accountant and/or an attorney.

If you've made $144,600 over the last two years and haven't filed or paid any taxes, it's only a matter of time before you hear a knock at your door.

Also, any mortgage lender is going to request your income tax returns for the last two years.
Imagine their surprise when you tell them that you've not bothered with those pesky things.
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0 votes 6 answers Share Flag
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