Dear Jason Watton:
Call my lender, and ask her if she can do your deal
Hope this helps.
Terry S. Smith
46 year Arizona Resident
Grew up in Scottsdale, AZ
Rain Dance Realty
I would suggest to contact a Lender and verify the information regarding the Short Sale and see exactly where you are in obtaining a Loan to purchase a property.
May I suggest Karen Jones 480-339-1577, with AmeriFirst Financial; she will sit down with you and go over all the necessary items to get you started. She is the BEST!
Please let her know that I referred you.
Have a GREAT weekend!
Vivien L Biggs PLC
Prudential Arizona Properties... more
Please give me a call so we can discuss your particular situation and also look over get you and approval within a few hours.
Whether you’re, buying, or building your dream home, you have a lot riding on your decision. Market conditions and mortgage programs change frequently, and I welcome the opportunity to serve your needs with quick and accurate real estate financing advice. I have the expertise and knowledge to help you determine the absolute best loan program to meet your objectives. Get my top 25 Questions for FREE that you should be asking your lender before you choose them to secure a mortgage. If you are already working with a lender, don’t be shy to give me call so I can price the same mortgage for you with less cost. What do you have to loose but your money?
Ensuring that you make the right choice for you and your family is my ultimate goal. And I am committed to providing my customers with mortgage services that exceed their expectations.. As always, you may contact me anytime by phone, fax or email for personalized service and expert advice.
I look forward to working with you!
16800 N. Dallas Pkwy, Suite 290 | Dallas, TX 75248
Office: 972-646-2411 | Cell: 214-418-7022 | Fax: 214-614-4637
Bank of England /dba ENG Lending: NMLS# 418481... more
Dear Atlana Jer:
This is a legal question.
Agents are NOT allowed to practice law in Arizona.
I'm going to refer you to whom I believe is the best REAL ESTATE lawyer in Arizona.
Dax R. Watson
Hope this helps.
Terry S. Smith
47 year Arizona Resident
Rain Dance Realty
Direct (602) 763-1858
The average price per square foot for the 85254 zip code for Active properties (meaning those currently listed as available) is $200.46.
If you have any additional questions- please feel free to contact me directly.
Excellent question! First of all, if a home does not sell, it usually comes down to Price, Product (your home) or Pitch. (Marketing.) The good thing is, you were able to get it leased!
Realtors are calling you because you are a hot prospct fo future business. As to their answer to your question.....a good Realtor will assess their buyers' needs, then help them find an appropriate home based on those needs. As a Realtor, if I have a home that meets those needs, I certainly show it to them, but I do not limit them to seeing only the homes that I have listed.
Next time around, interview 3 Realtors. Explain what happened the first time around. ASk them how they would market your home differently to get your home sold. Listen carefully. ASk fo examples. ASk for references from other sellers.
Make sure you hire a Realtor...not just an agent...there is a difference!
Good luck!... more
Why would you put 10 properties in one listing?
Are you trying to due a bulk sale? If yes, are you willing to leave behind some equity?
What are the property values?
I know, I know more questions and not many answers.
To get an idea of the values as-is you have some options:
1. got to Real Estate Values.us
2. contact local real estate agent
3. hire an appraiser
As an real estate investor, we are always looking to purchase bulk properties but we would need more information.... more
Use the BUYER'S ADVISORY as a rental/buying tool to investigate anything that is important to you when renting or buying a home.
Here is the link: http://www.aaronline.com/documents/buy_advis.pdf
Now is a great time to BUY - Really! I would seriously consider buying over renting in the current market.
FREE List of SCOTTSDALE Repo homes with pictures: http://www.ScottsdaleAZRepos.com... more
The 85254 neighborhood is a well established area which has seen recent increases in popularity due to retail developments at Kierland and Scottsdale Quarter, and the blossoming employment center surrounding Scottsdale Airport. Older homes in the area are often very well built but require continual updates in areas like windows, roofing, hvac systems etc. These are expenses that you need to plan for in owning an older home versus a newer home. There are also newer home neighborhoods in the area such as Kierland and Desert Ridge. The newer homes often sell for a higher price but have lesser need for larger maintenance items as discussed. Please let me know if I can be of further assistance - Best of luck!... more
You have a legal issue more than likely where consultation with a real estate attorney can help. You can still address it with the parties involved in the sale as well should they consider a remedy and because communication is important. As a Realtor is want to know if it was me however I am not qualified to concretely answer the full scope of this question. The 'how' is through communication and representation.
Best if luck
Laura Myers... more
I would highly suggest that you seek legal counsel. Realtors should not answer a questions such as this. I have studied law for a couple of years and because of that I can tell you that there are several issues in what you have stated that a court could rule on in many different ways. You really need a licensed attorney that deals with this issue.... more
Do you have a buyer's agent - that is the your go to person for this question. And yes, if the offer has not been accepted, you may withdraw - just do it in writing and do it prior to delivery of the acceptance. You will also have the inspection period in which to determine the acceptability of he property. Just be careful to follow the letter of the contract.... more
Cap rates vary from 5-9% cash on cash return, depending on what you buy, and where.
Here is my Scottsdale Market Stats screen capture for January:
Terry S. Smith
46 year Arizona Resident
Grew up in Scottsdale... more
THe last I heard of, this is virtually impossible. At a time, banks were offering tape at 50M and higher which I assume you don't have. I have been contacting some banks and REO agent for pocket listings at 30%+ discounts. If you wantto give me your info, I would be happy to get some property for you.
Jason E Whaley
This is correct, It actually costs money to do this small loan, There is a long story to this but basically federal laws trigger a limitation to the costs. The smallest loan still costs $3900-4300 at a minimum. The lender is then forced to reduce the fees by actually paying them.. It doesn't make sense.
However, I heard that Chase might do them (Not sure how) but call them.... more
That is a very good question, and one I am asked frequently, I guess the answer depends on your personal situation. Obviously , if you pay cash then you have no monthly payment so you cash flow immediately, and when your property isn't occupied you have minimal outgoing expense, but if you need immediate cash accessing it could take time. However there can be some tax advantages to mortgaging your properties, and with interest rates being so low this is very tempting, it can also allow you to purchase multiple properties with the same investment. It would also be possible to keep some funds in reserve for emergency exenditures, but you would be responsible for those monthly payments when they are unoccupied. Also your long term appreciation is impacted when yo take into consideration the interest you will be paying. All of these things, as well as others, should be taken into consideration when you purchase an investment property. Good luck and don't hesitate to contact me if you have any other questions.... more
It is often the buyers responsibility (and will be spelled out in your contract) to pay for the utilities to be turned on so you can inspect the property. You will have to turn them on and typically pay an upfront fee to 'winterize' them again right after the inspection as the bank may not allow them to be left on. If you buy the home, you should be able to transfer deposits.
Remember, if there is a gas supply and it has been turned off for over a few months, you may have to have a city inspector come and clear the home for utilities prior to them being turned on . When you call the gas company, ask how long it's been and if there is a mandatory inspection. What you DON'T want is to schedule the utilties to be turned on, schedule and pay for your home inspection then find out that there is a city inspection required first. They may be able to fit you in or it may take over a week.. You should have probably called and found this out first so you would know to allot yourself a few extra days for your inspections. Either way, make the calls asap! Good luck.... more