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Mellissa Young-Ramirez's Advice

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  • 33 Contributions
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  • 4 Helpful

Mellissa Young-Ramirez wrote:

Is it time to change our Realtor

Answer
Sounds like your agent may feel the property is overpriced? Did your agent discuss that possibility with you at time of listing? If so, then I would almost bet that is the issue and would explain their eagerness to suggest dropping price versus discussing other issues. 
February 22
(0)

Why is my house not listed with the houses for sale when I look for it?

Answer
Maybe your Realtor's MLS is not syndicated and/or if they are, the agent opted you out of the feed into the internet, where third party portals would pick it up and advertise it or make it readily found, such as on Trulia or Zillow. 
February 22
(0)

is it common to offer cash with 30 days for inspections and up to 90 days to close?

Answer
Is this an approved short sale? Or maybe seller needs time to relocate or close on a new home? 
December 31 2013
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How do i find out how much to list my house at without talking to a realtor ?

Answer
Hello, I tend to answer questions pretty bluntly or straight forward, so here it is, RESEARCH1.) Get a full appraisal and you will see the compareables used which should be from your area and from there you can make a decision.2.) Look through classifieds, craigslist ads, online Trulia, Zillow, Redfin, all can give you an idea of what properties are listing for. 3.) Then see if you can get online with the county assessor office, input your address and you should be able to see what all properties sold for within a 1-2 mile radius of yours. Weed out the ones that sold in the last year or last 6 months if applicable. Then you can compare that information with the information from online listing sites and derive a number. 4.) Get a home inspection with a repair bid. That way you can make sure the repairs were taken into account by the appraiser and if not, deduct them yourself from the final price you determine. 5.) Another sneaky option is to ask agents for MLS list of current listings or sold for area. If agent provides it, then you have more info. 6.) You can even go online yourself to Listingbook.com and establish your own account. I lost a few buyers that way many times, so I stopped telling my clients about Listingbook. 7.) JUST DO IT, advertise and see what kind of offers you generate, that will give you an idea of how much.8.) Hire a Realtor to list for you. There are factors involved with everything I just relayed and too much to go into right now but it comes back to "It's best to get a licensed professional or you risk wondering what if ....?" 
December 01 2013
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Question for consumers/sellers...What do you ask when checking a REA's references?

Answer
What gets me is asking if agent is full time, I have been licensed for 17yrs and my schedule has varied according to stages in my life, the demand for an agent and according to my efforts put forth to generate prospects. I have had times where  I worked 12 hours a day and didn't sell anything or get any listings and other times when my efforts did pay off. The one thing that is consistent, is my sphere of influence and but even that takes time to develop regardless of amount of hours per day. So working full or part time, really does not play a part in how well an agent can market and list a property. In fact, only part time hours would be necessary if agent works one or two listings at a time and their clients are happy with results. The main thing is does the agent limit themselves to set hours because that can prove problematic for some sellers and some situations. An agent has to be available when the buyer or seller is available. 
December 01 2013
(1)

How can I find out what my neighbours are paying in property taxes?

Answer
In Los Angeles you can look up assessor records for property sales and find recent sales in your area then take a guess from there. Aside from that, wetdawgs response is a good one. 
December 01 2013
(0)

interested in listing with Auction.com . Any experiences on the sell side?

Answer
Agents are also using Auction.com services, it is becoming a regular part of some agent's marketing strategies for best price when the market is not bringing in offers at the price listed for. Also when property is a short sale, many loan servicers are now requiring that agents use auction.com. It seems to be a good source for investor buyers and anyone with a distressed property to sell. Auction.com does require that real estate agents sign up with them, before they can represent listings or submit offers to purchase on behalf of their buyers. But it is easy to register with them and I predict that this type of selling will be the popular option for next few years.  
November 17 2013
(1)

Zillow vs. Reality

Response
In short sales it has been very common for servicers to turn to Zillow for their estimates and for a while, lenders were cross checking values with ZIllow before approving a traditional loan based on current appraisal. Almost every consumer I know of, who has a smart phone, has become hooked on following listings on Zillow and Realtor.com or RedFin. They like the sense of empowerment it gives them in providing the data. They don't really care as to validity and that is where the art of persuasion has to be used to bring them around when there are differences in values. I have lost a few clients because of the zestimates and have seen my husband lose loan deals or I have had short sales not be approved as a result of zestimates, so it can be a force to be reckoned with, depending on the consumer personality or the difference in value. I would say it is a 50/50 tool that it has advantages and disadvantages for all who use it, it is a matter of using it wisely that counts in the end.
November 15 2013
(0)

Can I use my current home as collateral on a new loan?

Answer
As in a blanket loan? Possibly, it depends on type or purpose for loan and of course, the lender guidelines. 
November 15 2013
(0)

My chances of being approved...?

Answer
The underwriter is primarily concerned with the numbers, they will add up all monthly payments and check them against credit and title to be sure they have an accurate number for determining income to debt ratios. They will also double check the new new proposed loan amount, payment with interest, taxes and insurance if impounded, to determine front end ratio, the allowed ratio for housing expense. They look at income and verify those numbers, the length of time and check verification of employment. They may also look at tax returns to see how much additional income you are reporting and the expenses on other properties. Bottom line is an underwriter, verifies the numbers, check ratios and confirm all documentation submitted conforms with the guidelines of the loan program that you are applying for. If approved they may have additional items they want to see and verify which will be included with the approval as conditions. Your loan officer will be able to explain those to you and help you satisfy them.
November 11 2013
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