Zillow Advice RSS: Question-Discussion-Guide,Home Buying,Manassas- VA

can real estate estate professional explain what is Agt/Rel to Own disclosure?

Sun, 15 Nov 2009 17:20:00 GMT

3 replies

Countrywide Short Sale Dept...need to contact them

Fri, 19 Dec 2008 16:59:00 GMT

Does ANYONE know whom in the CW Short Sale dept. to contact for an approval? Let me explain. We are the purchasers. We bought an approved short sale...few days before settlement we found out that the sellers 2nd loan was sold to CW...we have been living in a hotel for a month now and none of us (seller, buyers, agents, etc.) can get any sort of information out of CW...they say call back tomorrow, call back and they say call again on Thursday, call back and they said call back on Tuesday...finally get someone to tell us the new loan number and ever since we've called back they now say this loan number doesnt' exist...the last bit of information we got was the CW is only looking at the 1st mortgages right now, not the 2nd's...they explained that this was already an approved short sale when they bought they loan, they said they'd make a note in the file but didn't know when someone would look at it. We were even directed to go to the local CW office for assistance and they quickly showed us the door and said they couldn't help, but if we ever needed a loan, to keep them in mind (surely he was joking)

Anyone have an address, phone number, fax number, email address, persons' names, etc???

Our family of 5 has been homeless now for a month living in a hotel and shuttling kids to school everyday...it's really taking a toll on our family.

5 replies

Manassas, VA has seen the bottom in housing and prices are moving up fast

Wed, 27 May 2009 18:39:00 GMT

My home has seen a 14% improvement since I moved in. Other homes in the area are improving as well. Great time to buy in Manassas

6 replies

Home really overpriced.

Sun, 03 May 2009 11:54:00 GMT

I had a interest in home for sale. House asking $155k. HOme two doors away sold for $106,000!!!! Zestimate for home I like $135,000 but no sales to support that zestimate. Home is in subdivsion where all home are well maintained; recent sales are not really comparable. But how about that recent sale (4/23/09) on zillow. what an eye-opener!! Comments please.

5 replies

Short sale now in foreclosure?

Tue, 06 Jan 2009 17:16:00 GMT

Long story short...we had a contract on a short sale in Oct'08. Was to settle end of Nov.'08. Seller ended up having one of his loans sold to another bank a few days before settlement. We've been lead on from the listing agent ever since then that this house would not go into foreclosure. We found out last week that it is being sold TODAY at a foreclosure auction at the courthouse (they want way more for it than what it is worth of course). Isn't there something illegal about an agent listing a house that has already had the foreclosure process started? (We just found out that is was filed at the courthouse in April 08). We have spent money on turning utilities on, utility bills for 2 months now, home inspection, appraisal, etc...not to mention 2 months of storage to the moving company (about $2K), oh, and we also will have to now put 3.5% down instead of 3% because of the new lending laws...so this is going to end up costing us almost $4k, for a house we will now never own! Shouldn't the listing agent be held responsible for all these costs since she lead us on about this sale??? If there isn't some law against it, there should be!

7 replies

Prince William County VA: Improving values after hitting bottom

Wed, 07 Jan 2009 14:39:00 GMT

I recently did a great deal of analysis on the County and it seems clear that the SALES that occurred in 2008 have shown a steady increase in equity, so I postulate that the real estate value in PWC has begun to recover nicely. Many newly built homes and condos will not recover for at least 3 years. Refinancing may be a problem for those home owners that puchased their homes between 2004 and 2007 due to the 20% drop in their "bubble value". All buyers or sellers should expect only a 5% or 6% average annual increase in value (based upon the last 300 years of history in the US. Rule of thumb is 5% increase in value since the home was built. Generally speaking, a new home will increase in value a 5% - 6% per year. Use a "time value of money" formula available on the internet to calculate a good approximation of the value today. Compare with rental prices in the area to check what homes are renting for; rental proces should approximate the mortgage payment minus tax advantages for the owner. if you bought the home in the bubble (2004 - 2007) it will likely take 4 years to achieve break even.

115 replies