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Rick Miles's Advice

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  • 5 Contributions
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Rick Miles wrote:

buying a house

Answer
You can always email the local police department to obtain some information.
April 17
(0)

Byung a house when you still owe on another property.

Response
Once was a time when it was common for a Buyer to go through a basic Check-List before they decided to purchase a Home or Condo. As a buyer, you would have already had a stable, long-term job; some seasoned money was sitting both, in a Savings and Checking account with your local Bank. You probably had been discussing this matter for some time now; making plansand getting your finances in order. Then it was time to make an appointment and meet with a Mortgage Lender.During this meeting, you would discuss the finer details of your finances and provide the Lender with enough information so he/she could determine what your purchase price would be so that it will not disrupt your personal financial health. Once this number was determined, your next course of actions would be to align yourself with a Real Estate Agent. This too should be a process; maybe you had already found an Agent that you felt comfortable enough to work with or you were still trying to make a decision, either way you should allow yourself time to interview and preview several different Agents before you narrow it down to just One! These are successful steps to take when you are purchasing a property, this very well may be, the largest purchase of your life, shouldn't you take the necessary precautions to protect yourself?NOW, home buyers have not taken any of the above mentioned steps before they decide to go searching for a home or property to purchase. The reason for this, I believe, is simply due to the massive housing boom that took place beginning in 2004 which created a shift in the Home Buyers way of thinking and planning. Bad financial habits were developed and continue to plague the National Real Estate Market. A combination of events took place that helped changed the way Homebuyes made efforts to purchase a House or Property.
September 11 2010
(1)
Waterway Landing-North Myrtle Beach, SC
Currently there are 17 Waterway Landing condos on the market. Five are one bedroom units and the remaining 12 are two bedroom units. Prices for the one bedroom units are from $77,900 to $112,000. Prices for the two bedroom units range from $94,900 to $180,000. The total average price for a condo is $117,635 with a median price of $112,000. The amount of inventory is currently at 24 months with the average unit staying on the market for 281 days before it is sold or withdrawn from the market.The median sales price for all homes/condos in North Myrtle Beach from Dec 09 to Feb 10 was $182,500 based on 45 sales. Compared to the same period one year ago, the median sales price decreased 13.1%, or $27,500, and the number of sales decreased 62.8%. Average price per square foot for homes/condos was $140, a decrease of 18.6% compared to the same period last year.There are currently 1551 properties homes/condos in North Myrtle Beach for sale, as well as 61 homes/condos in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process. The average listing price for homes/condos for sale in North Myrtle Beach was $295,923 for the week ending Apr 30th, which represents a decrease of 0.9%, or $2,732, compared to the prior week.-Rick Miles, GRI, CREN
September 10 2010
(0)

Dodd-Frank Consumer Protection Act is Law

Response
Housing and Urban Development Secretary Shaun Donovan said Sunday on CNN's "State of the Union" that the administration would "do everything we can" to stabilize the U.S. housing market. Whether it will resurrect the first-time home buyer tax credit is up in the air. Donovan said that the drop in home sales in July was worse than the administration expected. Donovan also said that the Federal Housing Administration will launch an emergency loan program to help unemployed borrowers stay in their homes and a program to help underwater borrowers refinance.The financial reform bill signed into law by President Obama may look like a giant cornucopia of helpful changes for homebuyers and loan applicants - not the least of which will be the creation of a powerful Consumer Financial Protection Bureau to ride herd on the mortgage lending industry.What sort of tangible benefits might begin to flow once the bureau takes official form? One of the earliest - and most widely anticipated changes in the real estate field - will involve appraisals on homes. The law requires the agency to quickly come up with new interim rules on appraisal accuracy and independence designed to replace the controversial "Home Valuation Code of Conduct" rules imposed by Fannie Mae and Freddie Mac in 2009.-Rick Miles, GRI, CREN
September 10 2010
(0)

I thought real estate listing on zillow was free?

Answer
It appears that Zillow uses an IDX feed from MLS's.
September 08 2010
(0)