I am an Austin agent and a Zillow premier agent. This happened to one of my listings once. Zillow's feed comes from third part sites like List Hub or Postlets. The Austin Board of Realtors have List Hub as part of the service, but if it's not configured right, it may not be automatically fed into Zillow. Your would have to check with List Hub to see if it's set up right. When it happened to me, I called ABOR and they got me in touch with List Hub who had it fixedin minutes.
I agree with everyone else in that you should talk to a mortgage broker. He will go over your finances and let you know how much you qualify for. He can also advise you on what to pay off some credit lines in order to (a) strengthen your debt to income ratio and (b) raise your credit score.
Yes, but that's not the case in Austin. At least that is the minority and not the majority. The fact of the matter is that in a stable state like Texas, it's not as big of a risk. Furthermore, people need to think of buying a home as a long-term investment. If you plan on buying a home for a period of less than 5 years, you are taking a risk walking into it. On a national level, the average appreciation rate is 4 percent. If someone is wanting to move up in home as they get older it's important to buy a home as soon as they can. I live in a very nice neighborhood and home is worth $600K. I would not want to pay the note on a $600K home and I don't have to because the first home I bought 12 years ago appreciated and when we sold it in 2011, we transferred $150K in equity to the new home, which we paid $450K for. Now, we the market has exploded in central Austin and we are paying the note of a $300,000 home on a $600,000 home. That's the beauty of owning real estate. You don't have to be rich to eventually live in a great community, you just have to have make smart decisions when you buy.
And hopefully never......We typically get a lower tax value (if only slightly) than actual value and that's a good thing in my opinion. Howdy John!!
The hard part about short sales is what is actually done by the listing agent and homeowner. I have seen short sales taken by agents that have no idea what they are doing and homeowners that have not compile the information required. Its important for your agent to "take the temperature" of the listing agent and make sure they know what they are doing. Has the hardship letter, 2 years of financials and other information been collected from the homeowner? Has it been submitted? Has a negotiator been assigned? If I find that the listing agent doesn't know the answers to this question I know we are in trouble.