September 30th, 2009 — 03:29 pm


Catwoman asked:
The market is in a slump and I had to fire my realtor in order to sell the house for a lower price, since I can’t come down on price and still pay off the mortgage,have money to move, and still pay 6% to cover a buyer’s realtor and a listing realtor both. I am doing a FSBO and am trying to price my home. I need to get 65K and no less. Is it a good idea to price it higher and come down during negotiations or at what I want and remain firm? Which will sell faster?
Captain Feathersword: What does your comment have to do with what I am asking? Could da, should da. Those are the most common words in the English language but they never do anyone any good. By the way, I did pay extra on the principal but my house is worth less now that when I bought-if based on market value,which is what will sell. At 65 K I am still taking a loss.
CPT FEATHERSWORD: I did have an appraisal done. As to where I live, that is my business and that of those whom reply to my for sale ad. Homes appreciated but their true value is ALWAYS what a buyer will pay:no more and no less because until it sells it’s worth nothing. That is why a CMA is important. In this particular market, what people will pay is less than what I paid for it regardless of the assessed value. Now,please, answer my question or stop editing your reply. I am not interested in a debate or in being told how a stranger thinks I mismanaged my finances and real estate. I am trying to price my home so I can do what is best for me and that is all.
practical solutions to stop UK repossessions
6 comments » | Renting & Real Estate
September 28th, 2009 — 09:42 pm
Micah asked:
I just sold my house an I am taking the proceeds to payoff 8 credit cards, a couple of store cards, a line of credit and a personal loan. It will literally clear about 12 revolving debts to a $0 balance. How fast will my credit score raise? Right now it is a 645….any chance of going to 700 soon after?
notice repossession
2 comments » | Personal Finance
September 26th, 2009 — 09:31 pm

GoGreenMomTeam.com asked:
I have lived in the same town for almost 20 years. We currently live in California but with unemployment rates and the cost of living and the bad economy we are done with this! We have pretty much decided that we want to move to Texas, we are thinking that we can’t move for about 1 maybe 2 years. We own a house and my husband doesn’t currently have a job. When should we put our house up for sale? and when should my husband start job hunting there and when should we start house hunting there? how do we plan this so that it is a pretty seamless transition? I don’t want to sell our house faster then we think it will sell and not have a job or home there and I don’t want end up having to make 2 house payments either. I also would if at all possible like to avoid renting as I have pets and that makes it hard to find a place and the area I am looking to move has very cheap houses for sale and renting would end up costing us more and that would quickly eat up the money we are saving for a down payment.
any advice would be helpful thanks in advance!
facing repossession
Comments Off | Renting & Real Estate
September 23rd, 2009 — 01:53 am

Rodney L asked:
Here’s the situation. I got a job that requires me to relocate to Baton Rouge, LA. The cost of rent is too high due to Katrina, so it’s a better investment to purchase (and cheaper!).
We found a 3150 sq/ft house that appraised last year for $275000. We know the owners will take $150000. A CMA for the area shows houses selling for 120-140 dollars sq/ft. The problem is, the house needs some cosmetics, as well as an extra wall added to divide a room (one was previously there but removed to enlarge the room), as well as carpet, paint, and a few exterior things done. Nothing major that I could see. We would also like to “rough in” the attic to make it an extra room, but nothing fancy. Plywood and sheetrock, with some ductwork being relocated. POSSIBLY add an extra HVAC unit. We figure 30-40k would do us up fine, which would put us at $190k in the house. That should cause it to appraise for AT LEAST $325k with these improvements.
I can’t find a lender to give me a first mortgage that will cover rehab. How should I work this? I’ve seen information for rehab loans, but not sure how they work. My credit is fair. I had a 571 median score WITH a judgement on my record that I paid off last week. I’ve faxed and overnighted copies of the settlement to all the credit bureaus, so I expect my score should jump up considerably. My banker said probably around 50 points, which would put me at 621, or close to it. We have no money down (due to paying the judgement) and more than likely won’t have closing costs either.
Please help with suggestions! What kind of rates should I expect? How much will a rehab loan cost me in the long run? Is it worth it? I need to close fast, because I start work next Monday and my family will still be out of town.
I appreciate all the help!
Thanks, for your response, I look forward to hearing from you!
What do you mean by cash out refinancing? How long will that take and how does it work? Sorry for being ignorant of the topic. Thanks!
how to stop house repossession
Comments Off | Renting & Real Estate
September 16th, 2009 — 11:33 am
rusty asked:
Sounds crazy, I know. It is my girlfriends house and she inherited it from her dad. The original 1500 sf house(1 bed/1 bath) had permits taken out, but nothing ever had the final inspection. They finished building it as fast as they could because her dad was in a wheelchair and needed it done. ALSO, her family decided to build an additional 1500 sf addition(for live in caretaker) and they didn’t even take permits out to do that! Unreal, I know. The house is on a half acre and has another house(2/1) on the property. Can she sell the property? Would she only get what the land and 2/1 house is worth? This whole ordeal is a mess and she just wants to get rid of it. It would be a dream property for someone who wants to deal with “as built” permits/inspections… They would be getting a bargain if she could sell it. Any info would be great. The house is in Hawaii if that helps.
mortgage arrears solution
1 comment » | Renting & Real Estate
September 10th, 2009 — 03:52 pm
deathdealer6wife asked:
We have an investment home–long story short–we need to get rid of it. It’s becoming a headache. We got in touch with a motexinvestments who have made us an offer. They will take over both mortgages and we pay them $4500. We are done with the house. Is this legit? Because of the condition of the house and location, we anticipated losing about $10,000 had we tried to sell it ourselves.
We would remain on the mortgages until they actually turned around and sold the house. Then we would come off the mortgages. Apparently this is all in a contract.
They just sent us a contract. Can anyone look over it and see if we are protected?
We are active duty Army stationed halfway across the country, upside down in the house and trying to get out from underneath this.
repossession stopper
5 comments » | Renting & Real Estate
September 5th, 2009 — 01:31 pm
dennis_phillips7 asked:
I built my own green house and even sold several kits for them online, but I started out with the intenion of selling plants this spring. I have over a thousand seedlings already started and planted three more flats of 72 cells each tonight.
I know they sell all sorts of plants and tomatoes plants sell better than any other single plant, but I need to find out the best plants to sell and all the nurersiers are closed mouth about it.
I planted Better Boy,, Beef Steak, and Early Girl tomatoes tonight, but I am just wondering what else to plant.
I have 2 pickleing, and 2 sliceing cukes, 2 squash, cantalopes, watermellons, etc. planted and am transplanting to the 6″ pots as fast as I can buy them.
What is the biggest thing that sells for a good profit????????
save home from repossession
5 comments » | Garden & Landscape