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Realtor expectations

Response

There are many ways for Realtors to market properties these days.  You might notice on Zillow that there are special incentives Sellers can offer which push your property to the top of the search results.  A blog can be added about the property to Redfin, and social networking and face-to-face networking these days is extremely important.There may be many things your Realtor is doing without you knowing it, however, I can understand how frustrating it can be if you don't hear from them.  Have you asked?   Your realtor is likely very open to discussing any input you may have, and may be able to explain more of the things they are doing which may not show up at first glance. 

  (0)
can isell my houserent to own if istill owe amortage

Answer

With so many homes for sale, and so few homes to rent available, I am more and more often encountered with the question, " would they be willing to do a rent-to-own?".I think this is more evidence that homeownership is still in fact the American Dream. It shows that many renters, though not qualified for whatever reason at the moment, inherently do wish to own rather than rent their homes. This scenario however, can be quite complex, and there are some advantages and disadvantages for both parties involved.For instance, the seller will want some incentive in order to agree to take the property off the market for the duration of the lease agreement. This incentive is usually in the form of a premium tacked on to the purchase price. Why would a buyer want to pay a premium for the house you ask? Well, if there are circumstances which prevent a purchase from qualifying for a mortgage, but they anticipate a change in income, or credit in the future, they may wish to try to start building equity in a home by renting it, and requesting a portion of the rent be credited to them as downpayment money at closing. For instance, if a home is listed for $350,000, perhaps a purchaser would offer $2000/month with $300/month credited back to them at the closing table, enabling them to bring $3600 less in closing costs.Prior to taking possession, a purchase price is determined. Usually the last 60 days of the lease term, the parties enter into the contract to purchase at the agreed to price.The landlord/Seller benefits because they know that they have someone who has a vested interest in the property.Port Jefferson real estate attorney, Margot Garant has structured "purchase option" leases many times for clients. She says, she most often sees the request made if the purchaser has had credit issues in the past or undisclosed income . The transaction is most successful for the parties if the property is vacant.

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How accurate is zillow? is there a better site to use?

Answer

Much of Zillow's accuracy depends on how uniform the homes are in the area.  If you are in an area surrounded by homes of similar size, and age.  Zillow is likely to be much more accurate.  If you are in a neighborhood which sees large variations, Zillow has a hard time.

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