Profile picture for Maria Fabiano

Maria Fabiano

Premier Agent

30 Recent Sales (last 12 months)

Realtor/ABR (14 years experience)

Specialties:
Buyer's Agent,
Listing Agent,
Short-Sale,
Consulting

Advice

  • (8 Contributions,
  • 0 Best Answers,
  • 0 Helpful)

Contributions are sorted newest to oldest.

How should I pick a realtor?

Answer

Wow....I am sorry that you had such a terrible experience. I would advise you to interview several agents and have them coach you through the process. Since you are buying and selling you would want to have the same agent represent you because one transaction is going to be contingent on the other. I KNOW that there are ethical Realtors out there that will help make these transactions run smoothly for you. You truly need to follow your gut.  

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Multi-Family Market Report for Medford MA, February 2011

In February 2011, there were 2 Muti family homes that had an average sold price of $394,000The average list price was $424,000 and the average days on market held firm at 11As of March 21, there are 19 Multi family homes with an average sale price of $469,904 and the average days on the market is 234. For more information on our market reports, please visit Home values in Medford

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Market Report for Medford MA for February 2011

In February 2011, there were 12 single family homes that had an average sold price of $375,282. The average list price was $396,425  and the average days on market held firm at 90As of March 21, there are 66 active single family homes with an average sale price of $367,510 For more information on our market reports, please visit Home values in Medford

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Wondering if you can get a mortage if you have done a short sale?

This is a question that comes up a lot. When asked this question from Jeff Palermo of Relient Mortgage this is what he had to say:"Many of you have asked about getting a loan for someone who recently had a short sale. The guideline direct from MA housing which follows Fannie Mae's rules now  - Short sales must have taken place 2 years prior to credit report date and a max ltv. 80% 4 years for an ltv of 90%.  For many this is the only option to get out from a bad situation when they are upside on a home but they should be informed that they will be forced to rent for at least 2 years and will need at least 20% to put down. "

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What are my chances of getting the short sale house with no other offers?

Answer

It truly depends on the  bank/banks involved. Lets assume that there is only 1 bank involved, it is up to the bank to want to accept the shortage. Also, sometimes banks let homes go into foreclosure because it works out better for them in terms of money. They can get cash from PMI insurance or sell it take it over themselves and place it on the market with a Real Estate office.

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