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Jason Bonas's Advice

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Jason Bonas wrote:

your zestimate is about 30,000 higher than a relitor sujested

Answer
Without knowledge of your local market, and what the home are going for there... Zillows Zestimates are a suggestion of value based on information taken from public record sites. In many areas the zestimates are not accurate. If your agent suggested a price i am inclined to believe it may be more correct than the zestimate. If you are not sure or happy with what the agent say hire a 3rd party appraiser to give you his or her opinion of value. and your agent should have explained that when he or she sat you down and gave you the numbers and you pointed out the difference in his quote and zillows. (I have seen zillow value $100,000 homes at $200k and $600k homes at $350k) it is not a perfect system
January 06 2010
(0)

Should we buy a new house and then short sale?

Answer
I doubt that you can do that. I am pretty sure that you signed a note with your mortgage (check your docs). That note makes you personally liable if your house is foreclosed on for the balance due after what the home receives at auction. I am aware you want to do a short sale BUT, you have to prove financial hardship for the bank to accept it. If you are in a position to buy another home the bank may very well come after your assets... Many times when a home is foreclosed on the bank does not come after you based on the assumption that you have nothing to come after (if you buy a home they probably will attempt to collect what they are owed).as I tell plenty of people if it were a viable option to just walk away from your old payment and pick up a property at todays price don't you think that everyone would be doing it???if you bought a home for the long haul and not just as a quick "pseudo investment" then over the YEARS you will be fine the values will return. this is a market correction
January 06 2010
(1)

Why is zillow getting evil and greedy?

Answer
how come almost everyone here wants something for nothing?- they want accurate property appraisals for free- they want listings for free- they want free ad space... Some of you choose to go the FSBO route based on the assumption it will save you money. Ok, I can understand that. So now you need to pay a minimal, somewhat trivial amount and the masses want to revolt ...if you are an agent and have to pay less than $2 for a site then what is your complaint, work hard and get it sold by the second month before you spend a huge amount like $4 Zillow, is a company, with employees, equipment, and a building. None of which are free. They need to pay for those things. be glad they only charge you a small fee to list your home (and give you an inaccurate assumption of value (couldn't resist) lol))
January 06 2010
(3)

Can I buy a house if I don't have money for down payment, but I have a very good credit score?

Answer
ok,find yourself a good buyers agent who can point you in the proper direction of first time home buyers programs in your area. Contrary to popular belief, there is plenty of ways that a 1st time buyer can buy with no money down and very minimal money out of pocket. However, they don't advertise them on billboards and you have to be in direct contact with the organizations that promote them (the individual banks themselves). They do have strict requirements and regulations but as I said before they are out there if you know where to look. Talk to some other recent buyers in your area and see if they can help you
December 30 2009
(0)

how can I buy a house with no credit established?

Answer
there is always the cash :)question... do you have bad credit or no credit?- first speak to a lender? if you just have a lack of credit find out if they will accept alternative forms of credit (rental history, on time bill payment etc...)then find out from their perspective how best to go about getting a property loan. or establish credit and wait- if you have bad credit... go work on it
December 29 2009
(0)

why my house still showing " RED" means for sale

Answer
Zillow takes its information from public records... unfortunately with all thing government it takes time to update. Depending on where you are it may take public records anywhere from a couple of weeks to update the system to a couple of months. (Around the area I am in I have seen public records take as much as 2 months to update). there is one property that sold and  settled 3 months ago that still has a last sold date and price of back in 2005 showing up on zillow. Claim your property and try to change the status. If you are waiting for zillow to update it, you have to wait till public records update it
December 29 2009
(0)

Credit Union recommeded your site to find the value of my home? Where do I start? I am selling.

Answer
I am gonna refrain from my usual comedic comment about finding a new credit union if they suggested you come here for the "value" of your home. I am assuming that if your credit union sent you here you may be considering a short sale? (please inform us)Well, as Sunny stated zillow is a starting point for your research. your best bet would be to contact a local agent for a CMA or hire an appraiser.
December 17 2009
(1)

I am new in real estate investing. How does one pick a money making property. What 2 look 4.Thanks

Answer
Lol, you are aware that property flipping is partially to blame for the mess we are in because it was taken as get rich quick. Everyone believed if you bought a property painted and changed the carpet you could sell it for $80k more than you paid for it.with that said flipping properties has really died down because the values are dropping as opposed to artificially appreciating. If you buy a foreclosed property for $250,000 and put $30,000 worth of work to bring it up to date you would be lucky if you could even list it $300,000 (as opposed to the $400k of years past) after fees and commission you would be even luckier to walk away with $3,000 which will then be taxed. (look at how few TV show about flips are now being broadcast)I have seen quite a few properties go up as "flips" in this current market and feel that the agents should explain that in this locale a flip would not be a wise "investment". As most of those speculative flips in this market end up right back on the market break even or at a loss to the seller. * I am not stating that real estate investing is done and over but, it now requires more realistic thoughts, and actions, as it is investing and not get rich quick *
December 17 2009
(4)

Do you think the asking price is too high?

Best Answer
my suggestion jj would be, if you are looking to purchase: get a buyers agent, have him or her help you to determine the offers you should make.if you are a neighbor who is just curious as to what you could get for yours: pay for an appraisal, or get a CMAbut as stated before it is only worth what you would pay for it. 
December 13 2009
(1)

Agent Boys and Agent Girls. Thank You For Charging Those 6,7 and 8 Percent Commissions.

Response
not, so be the voice of evil or reason but, if you are offering a service as a professional, you should conduct yourself as such. I am happy that you were able to get listings, not all service and fees are for all people.i.e.- some people are experienced enough to sell FSBO some are not (there is nothing wrong with charging different prices for different services)I have a couple of questions though - what area do you operate out of- what do you charge (are you offering a flat rate or what percentage)- are you a discount brokerage, MLS inputting service or some other service- is there any particular reason you chose not to identify yourself using one of the zillow professional designations
December 13 2009
(0)
 
 
 
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