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Shane Willis's Advice

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  • 16 Contributions
  • 0 Best Answers
  • 3 Helpful

Shane Willis wrote:

How to find out if my home showing 1 time in 3 months is average?

Answer
Not typically. Is the property priced right?
July 01
(0)
What are the most important aspects of understanding investing in real estate?
What questions should I be asking on every deal?
April 28 2013
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Possible College fund?
[Promotion removed by Zillow moderator.]
March 31 2012
(0)

Foreclosure vs Short Sale

Response
So with short sales coming in faster times are the answers here still the same this year??
February 25 2012
(0)

Is it a good time to purchase or sell?

Answer
hpvanc said "It is always a good time for real estate agents to buy and sell other peoples properties, their income depends on it.  The problem is it varies significantly for the actual property buyers and sellers, and real estate agents don't have the education necessary or the correct economic incentives in a commission compensation structure to give that kind of advise."I can not say I agree with that totally. It falls under a logical fallicy called "all or nothing" The statement implies that ALL real estate agents lack the education necessary to give solid advise. It also states that ALL agents are totally economically driven on every deal. I know that is not true of ALL agents ALL the time. Are there some that fall into this category.....sure, but not ALL."Its a Good Life"Shane
December 03 2011
(0)

How do I find out if a property has any liens on it?

Answer
You can check your county records as a start, but this is the job of the title company. Have them give you a preliminary title report (fee may apply here :)"Its a Good Life"Shane 
December 03 2011
(0)

What to do when needing a new appraisal on a newly-built FHA home right before closing?

Answer
Read your purchase contract. If it has a financing contingency (and an appraisal contingency) and the new one does not come in at purchase price, you MAY have some negotiating room with the builder. This would be a questions I would ask your realtor. Good luck"Its a Good Life"Shane
December 03 2011
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income + debt to income ratio on a $1m house

Answer
I agree with Clay Your payments are going to be a little higher than that ($700,000 at 4.5% is 3546 without taxes and insurance. Your standard debt to income is company specific, but you are going to be closer to   50%+ with just your income so you need more. Hope that helps"Its a Good Life"Shane
December 03 2011
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How much should the listed price of a home drop for a cash purchase?

Answer
Difficult question as it depends on the situation. 1.) Is the listing price at or bleow (or above) market price2.) Who is the seller.....ie person, bank,,,,,,short etc...3.) Are there other offers on the table?These are just some of the factors that play a role in this answer. Cash offers obviously throw out financning contingencies, but it does not mean there is not an appraisal contingency. Again case by case. I hope that helps some"Its a Good Life"Shane 
December 03 2011
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What can I do to get more (or better) quotes for my loan request ZR-LZRMBLJ

Answer
My naswer would be contact your bank or whomever holds your mortgage now. They will probably be able to quote you what a refinance would look like. I have seena lot of people in your shoes refinance to the lower rate and cut the loan form a 30 year to a 15 year with the payment staying the same. If you are not having trouble with the payments and can do this it will save you $$$$ in the long run...Good Luck
December 03 2011
(0)