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April Neuhaus Epro's Advice

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  • 38 Contributions
  • 1 Best Answers
  • 1 Helpful

April Neuhaus Epro wrote:

Unethical Practice from AGENT? What to do?

Answer
I just went to a CE class by a Real Estate Attorney and he pounded in our brains that any kind of verbal acceptance of an offer is not legally binding. All offers, counters, acceptance of anything and agreed upon terms must be in writing and signed by all parties to be executed - according to him. Especially in the insane seller's market we find ourselves in right now - I would highly recommend all agents to have very tight time frames for written and signed responses to any offers they submit to attempt to avoid the above happening. That being said, I am sorry about your experience, it is always very frustrating to think you might finally have a place under contract for your buyer in a very low inventory market, only to have it swept out from under you. Kindest Regards,April Neuhaus
April 30
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Foreclosure

Answer
This is a good question and allow me to explain a few things for you - it sounds like you are on the right track. 1. When a property has already been foreclosed upon and is an REO (or bank owned property) and is listed - at that point the bank can accept an offer and then close in a fairly quick fashion. There is no need to wait on a lengthy process for approval of the list price as is the case in a short sale. 2. Depending on the situation the cash offer could help or hurt you. I say this because HUD and other bank owned properties have a window of time where they will only accept owner occupied bids. So if you are cash because you are in investor - you will not be allowed to bid or submit an offer in the initial window that is only allowed to owner occupants. 3. If you are an owner occupant offering cash, then you will be allowed to make a bid and be in a strong position. 4. You need to realize one more thing however, in the current market (Longmont) there is a HUGE shortage of inventory right now - especially in the under $250K market. So there has been a very large percentage of homes that have closed above list price. So you might think that if you make a full price cash offer that you would be assured to win. While that might have been the situation 2 years ago - it is not the case now. Your broker should be able to get information for you before you decide on your offer price on if there are multiple offers coming in and when the cut off time for them to be submitted is. Hope this helps and happy house hunting! Kindest Regards,April NeuhausEmploying Broker for Neuhaus Real Estate, Inc.
December 15 2013
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Any comment on the short-term impact from the flood on Boulder/Denver real estate?

Answer
With the road damages in Boulder County Lyons and parts of Boulder will be stunned for several months most likely. Estes Park will definitely experience a sudden halt in real estate activity while the infrastructure is repaired including sewer lines and the roadways and bridges to access that area. A large portion of Longmont has not been effected and should be able to pick up and stabilize faster.
September 16 2013
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FHA Mortgage Insurance

Answer
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March 24 2013
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Sellers: Pay Attention to Lowball Offers

Response
I think one thing that is very important - in line with the heading above, is for a seller to at least keep the lines of communication open with a buyer that presents a low ball offer. There are times when the seller will just want to say 'IGNORE IT THAT IS INSULTING!!' And it very well may be an insulting offer. The fact is, however, that the buyer is very interested in the property and may be getting bad advice from neighbors, family member, and who knows who else, to make sure they don't 'overpay' for a home. Typically they are not very knowledgeable in the market. In the current market - they will learn very quickly that they will lose out on homes by doing this - and hopefully will realize that making a more reasonable offer is in their best interests. However, if you are a seller with no other offers on the table - which is highly unlikely right now - at least have your agent - who is a bit more emotionally distant from this sale - call the other agent and counter. This will open up dialog and you will find out if they are going to be willing to come up. Almost always they are willing to come up and you will be able to find out just how much by countering back and forth and possibly coming to the conclusion that you do want - having your house under contract.
March 23 2013
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Any tips on building a custom home and working with a builder contractor. How does a person come up

Answer
There are a lot of builders in the area - and it's an important decision to make. I would recommend interviewing several different builders and taking a look at recent past homes they have built. If you are in the Loveland area - you could start with calling Jace 970-213-2817 at GJGardner Homes - they are a custom home builder that will either customize one of their own floor plans for you or use your own. I just talked to the owner and he explained they come up with a hard bid so there are no surprises and do not mark up the permit fees at all.
March 23 2013
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I found a scammer on zillow. His name is Michael Barile & he's advertising for 2251 23rd St # 1

Answer
Thank you!! And absolutely - please inform zillow with the report this listing button! The more proactive we all can be - the better to keep scammers to a minimum!
March 09 2013
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Getting a Lot Of "Rental" Inquiries

Answer
Hello Terri,We too have had a large amount of rental inquiries- however we are not showing up under any kind of 'rental' advertising. What is happening on our end is people are so desperate for rentals right now with the huge shortage in this area, that they are approaching sellers to see if there is any way they would consider renting. I suppose that if you put some type of wording in your ads indicating that you will not consider renting it may save you some time. With some of the folks that have called us - I have referred them to various mortgage people who specialize in low money down loans and at times it ends up working out that they don't have to rent but can buy - now that they are aware of those loans out there.Best,April Neuhaus
December 02 2012
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why can't I post? my phone # is accurate for the "CALL ME" for code---this is huge waste of my time

Answer
There are times when zillow will assign you a separate number that will forward to the number you have on file. That way when someone calls off of your zillow listing when you answer you get a 'whisper' before the calls goes thru that this is a lead from zillow. Normally they give you a few different numbers to chose from in your profile I believe. (At least that is how it works with my account) Don't worry - even though your actual number may not show up - as long as the whisper number does you will be able to receive the leads. I am not certain that this is your issue - but just in case wanted to share this information. Best,April Neuhaus
November 27 2012
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Updates: I am seeing a big discrepancy in listed / sold prices in public records and zillow pricing

Answer
Hello - Sometimes your zillow estimate can be low because the imported facts about your home are not showing up correctly in the zillow calculating system. The most important number to make sure is correct is the finished square footage. You can see how to adjust those facts at:http://www.zillow.com/wikipages/Edit-Your-Home-Facts/Also - realize that zestimates are at times just WAY off because it is a computer analyzing details from past sales in a general location scenario and is simply not nearly as accurate as a person making sure to use accurate comparables to your property. You will need to have an accurate comparable market analysis to counteract a low zestimate that a buyer may bring up as leverage for a lowball offer.Hope this helps!Best,April NeuhausBroker/Owner at Neuhaus Real Estate, Inc
May 24 2012
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