Zillow Advice RSS: Question-Discussion-Guide,Home Buying,Reno- NV

Could I cancel the offer?

Sat, 31 Oct 2009 13:38:00 GMT

I made an offer on a short sale house. The seller had accepted the offer. The listaed agent told my agent that, we can sign the contrat in 45-60 days. Almost 60 days and nothing. My agent just told to wait and I don't know how long?

4 replies

I am interested in 2 bed room forclosed apartments only

Tue, 27 Oct 2009 14:13:00 GMT

1 reply

$100 Down Payment on HUD Loans

Mon, 21 Sep 2009 20:08:00 GMT

HUD (the US Department of Housing and Urban Development) has announced a sales incentive program which allows qualified buyers to buy HUD homes with a down payment of only $100, as long as:
• The buyer will live in the property for at least one year (investors do not qualify for this incentive)
• The buyer offers the full asking price for the home, and
• The buyer uses an FHA loan for the purchase.
Bank owned homes do not qualify for this program

OTHER PROGRAM REQUIREMENTS:
Loan types available
FHA Fixed Rate 30 year, FHA Fixed Rate 15 year, FHA Secure 30 or 15 year, FHA Stimulus 5/1 ARM (Adjustable Rate Mortgage)
Income
Must be able to document enough income that your debt to income ratios are 31% / 47%
Maximum loan amount
$362,790
Property types
Single family residences, townhomes, Planned Unit Development homes, condos
•Program Subject To Additional Eligibility Requirements

Chance Gates
RW Ballard Co

11 replies

How do I search for Foreclosures & REO properties only?

Wed, 11 Mar 2009 20:49:00 GMT

4 replies

Home Buying

Mon, 13 Jul 2009 19:01:00 GMT

Many people are putting off buying and I am not sure what they are waiting for. Prices are at a 10 year low, interest rates are still good. Incentives are great especially the 1st time home buyer $8000 credit

4 replies

Tough Reno cash investor looking for "real" action oriented real estate agent.

Sat, 12 Sep 2009 01:54:00 GMT

Are you a real estate agent that generally disdains most other agents because they lack integrity and action? You believe because it is too easy to become an agent it attracts "home show-ers" and weasels. If this fits you, I might be interested in talking to you.

Local Reno investor looking to pick up an additional rental house over the winter. (likely in Sparks) Have cash and can move quickly. Am no nonsense and historically believed that most buying agents show a few houses and hold out their hand. No follow up, no hard negotiations, just the sales "cheese" and then "Pay me". From an investor perspective, not worth the money.

I have heard of a mythical tale that there are agressive agents that don't give you the "heavy sales" and scour the area for contacts and deals and plain get things done. Could be an opportunity for you to have a quick transaction and close. If interested contact me and let me know how you can drive and get things done. Will not respond to those who send inquiries that say "call me".

5 replies

can i use flash (transactional) to purchase a property and then get a refi. doing a same day close

Tue, 15 Sep 2009 18:08:00 GMT

2 replies

Bought in April, want to buy another in a few months - what kind of down/financing?

Sat, 12 Sep 2009 07:12:00 GMT

I bought my condo with 20% down in April, and now I want to rent my new condo to my dad so I can buy another home for my family. I have a little cash still, but not anywhere near 25% plus closing. Ideas?

3 replies

Finding a loan officer

Mon, 02 Mar 2009 05:56:00 GMT

We're both not sure whare to start in buying our first home, but we went to BOA to get a pre-qualification, should we stick to one loan officer only or should we try finding more? will it hurt our credit score if we go look for other loan officer since they're ginna have to ru our credit everytime? can we get pre-approval from one or two loaners? thanks for in advance for your answers..

6 replies

FHA 203K Rehab loan Licensed Contractor Needed?

Thu, 28 May 2009 05:01:00 GMT

Do you need to have a licensed contractor do the work when you are using a FHA 203K Rehab loan? Or can you do the work yourself?

3 replies

increase home value or pay closing

Sat, 15 Aug 2009 01:34:00 GMT

just received a response from the bank on a short sale, now we're trying to decide which is the best way to go. They don't want to pay the closing cost, purchase price $$115000 & closing would be $3450. The question is do we pay the closing cost up front or increase the value of the house. I'm taking the 20% down out of my 401k so i'm looking for the best way to offset some of the penalties. thanks

0 replies

We short sold our home in March and would like to buy again. What is the best way to repair credit?

Wed, 05 Aug 2009 22:09:00 GMT

3 replies

Buyers Closing Cost

Wed, 15 Jul 2009 18:30:00 GMT

When buying a home it is important to remember the cost. The days of 103% financing with nothing down are behind us for the most part. So what will a buyer need to pay at closing? The easiest place to start is the down payment; most FHA loans require 3.5% minimum. Every lender will require an appraisal, to determine the market value of a house. To get a complete cost of what a lender is going to charge ask for a good faith estimate. Lender title insurance policy is another lender requirement. A buyer should always know the condition of the home he/she is purchasing. This can be accomplished by getting everything inspected by a licensed professional. A home, pest, septic, and well are the common inspections, however there are more. I do not recommend cutting costs by skipping the inspections. Escrow fees and transfer tax are usually (not always) split. Escrow fees are based on the purchase price and will change. The Washoe County transfer tax is $4.10 per every thousand of the purchase price. For example:$100,000 house would be 100 x 4.10 = $410.00 There can be other costs such as a home warranty, property taxes, garbage fees, etc… There can be many tax benefits, to homeownership. In today's lending climate, it would be difficult to get into the predicament that many current homeowners find themselves in. However, homeownership is a big and costly responsibility and not one to be taken lightly. You should consult with your accountant, financial advisor, and lender to be sure that you are aware and able to meet the necessary monthly, yearly, and future financial commitments required in homeownership

0 replies

is there a map legend that explains the icons?

Mon, 22 Jun 2009 18:08:00 GMT

I am interested in blue diamonds vs no icon?

1 reply

Reno: Rising Inventory and Falling Prices Make It A Bad Time To Buy

Wed, 17 Jun 2009 01:32:00 GMT

"Reno Foreclosures up after two months of declines"

"The end of moratoriums on distressed properties finally hit Washoe County in May, when the number of foreclosures jumped significantly after two straight months of declines."

"foreclosure-related activity rose by more than 18 percent in May compared to April, according to the latest report from foreclosure tracker RealtyTrac, and was up 107 percent from the same month last year."

24 replies

Before You Look At Another House

Mon, 15 Jun 2009 21:39:00 GMT

[content removed by moderator for being self-promotional]

2 replies

What's the first step to take in buying a home?

Mon, 01 Jun 2009 18:43:00 GMT

After choosing a Realtor you're confident in and comfortable in working with, I recommend contacting one or two lenders to help you 1) determine a price range you'd be comfortable with and 2) to get pre approved so you can move forward with purchasing a home when you find one that meets your goals.

0 replies

why are so many houses listed on zillow for sale, SOLD. How often do they update?

Sat, 23 May 2009 20:48:00 GMT

i have been looking online at homes for awhile. I just got my pre-approval letter 3 days ago. 5 of my top 7 "choices" Â so far have been sold when i call to inquire about them. They are all listed as for sale. How often does zillow update. thanks.
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0 replies

I noticed the 30 day price change really varies from house to house even on the same st. why??

Thu, 30 Apr 2009 02:32:00 GMT

3 replies

Are there any reputable down payment programs/loans still available?

Tue, 17 Mar 2009 01:34:00 GMT

Are there still any programs/loans that assist with downpayment costs? I know they did away with the programs such as the Nehemiah Project, but there has to be some other assistance for first-home buyers.

10 replies