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Jennifer Erickson's Advice

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  • 305 Contributions
  • 10 Best Answers
  • 66 Helpful

Jennifer Erickson wrote:

203K Loan....good idea? Bad idea?

Answer
203K loan is an excellent idea and the best way to get everything you want and need in a home.  I would suggest you contact a lender and go through the process with them so you know exactly what you are getting in to and what the costs will be.  I am a Realtor in Wilmington and have done many many 203k loans.  My husband is a renovation specialist with Wells Fargo.  The only loan he does is the 203k.  Contact me through my profile and I will pass along his information.  If you need assistance in finding a home I would be more than happy to assist you and your family.  
December 24 2013
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what is average number of days for homes to be sold in canton ma

Answer
In the past 6 months, the average days on market was - Single Family Homes - 133 daysCondo Units - 76 daysMulti Unit Homes - 87 daysThese were for properties where the seller used the services of a Real Estate agent and the property was listed on MLS.
June 11 2013
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I am looking for a real estate agent to sale my home in Mattapan, Ma.

Answer
I would be more than happy to assist you if I can.  If you would like you can email me at the email address in my profile with your contact information and the property address and I can start researching what I would suggest as a purchase price and marketing strategy.  
June 10 2012
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Can you send (e-mail) a list of open house showings being offered in the northern suburbs of Boston?

Answer
I would suggest that you develop a relationship with an agent that handles that area and get on their listing list so you receive new listings as they hit the market.  It will also be very easy for the agent to set it up so you receive a list of open houses on Fridays for the upcoming weekend.  I would be more than happy to set this up for you if you would like to visit my site listed in my profile.  If you provide your price range and specifics of the type of property you are looking for we can really narrow down the list so you are only receiving properties that would suit your situation.  I hope to hear from you.
March 20 2012
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I would like to know if the house at 978 New Boston Road Fall River MA is available for purchase.

Answer
This property is not currently on the market.  It did sell in 2005 for $350,000.  It is a two family. 
March 16 2012
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Typically, how long does it take start to finish for a short sale?

Answer
You need to begin a conversation with your lender or lenders. Typically you can go to your lender's website and find the forms they require to begin the short sale process.  Download these forms complete them and send in via signature required mailing.  If they accept faxes even better.  Make sure you put your loan number on every every page of every form you complete.  Since you are living in the home your should also complete the Dodd Frank Certification to be considered for the HAFA program.  If you are accepted into the HAFA program the lender will set the price of your property.  You will need to hire a list agent to market the property, find one that is familiar with your particular lender.  If you want to share with me directly the lender on your property send me an email. I would be happy to give you some free advice and give a you a referral of a local agent.  Best of Luck,Eric
March 28 2011
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what does a home's square footage include? Living space only, or garage, basement, 3-season?

Answer
Total square footage should include everything you listed above.  Living area is where you find differences between a MLS listing sheet and the tax assessors office.  Properties are priced and compared to other like properties with similar living area; garages, three season porches and finished below grade basements are amenities that can add to value.  For appraisal purposes as an example, a finished basement with a bedroom and bath that is below grade would be excluded and not included in living area.  best,Eric
March 25 2011
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I have bad credit and my fiance has good credit, should we buy a house now or after we get married?

Answer
The first question is does the fiance with good credit have the income to support a mortgage?  If so that the good credit and income should buy the property in his /her name.  The the bad credit partner is contribution is the down payment, that money needs to be put in a joint account.  In this case you need to season the account for three months.  The marriage portion is irrelevant; in that the bad credit future spouse can be added to title after closing.  But I would advise the good credit partner to take control of the finances so help the partner improve their credit so they can be equal partners.Best of luck,Eric
March 23 2011
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First Time Buyer - Seller Refuses to Negotiate on Price.

Response
Is this a for sale by owner property?  If you are dealing with the seller directly it sounds like it.  What make you think it has been depreciating since they have owned it.  Are there like properties nearby that have asking and closing/selling prices for less?  If you can replace it with a like property properly priced walk.  Or walk if you think the value is not supported in the market.  If you decide to swallow your pride and go into contract the most it will cost you is appraisal and inspection.  If you don't have an agent make sure an attorney reviews any purchase contracts prior to signing.Best,Eric
March 22 2011
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Knowledge is Power - Home prices will continue to fall

Response
We have been trying to get a bank owner of a property to agree with the logic of this post for our buyer for the last few days.  They came down in price by 5% and our final and best cash offer is 15% below current asking price.  Hopefully they will see the light tomorrow.  Best,Eric
March 22 2011
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