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Jim Starwalt's Advice

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  • 81 Contributions
  • 2 Best Answers
  • 17 Helpful

Jim Starwalt wrote:

Where can you find 6 month leases? Are leases negotiable?

Answer
Banandystand,EVERYTHING is negotiable! Just like everything"almost :)) is for sale! It's just a matter of how much are you willing to give on your side to get the other side to agree with you! If a landlord only wants long term leases, you may have to pay them more to go shorter term.Jim
3 days ago
(0)

is garage area included when asessing property tax in glenview, cook county?

Answer
A pretty good rule of thumb is is to count anything you can walk on, live in, as square footage. No a garage will not not count as livable space, square footage.
3 days ago
(0)

I'm about 21k underwater, should I short-sell?

Answer
I like Sunnyview's answer, one other thing to remember is that if you are "moving up" to a more expensive neighborhood you might want to do that now if you can. As prices rise on your current home, they are also rising on your "move up" home. I would rather see 5% appreciation on $300,000 than on $200,000. By waiting instead of just biting the bullet you will pay more and have less appreciation on your new home.If you can do it, do it now!Jim
3 days ago
(1)

Ch7 over 5 years ago, foreclosing after 3.5 yrs - when can we buy again?

Answer
User, There are programs out there with investors that will help you buy a home, rent it back to you, and allow you to purchase it back from them at a %5 premium in the future, which is not bad considering we are seeing 4 to 6 percent appreciation these days. I would be happy to steer you in that direction if you are interested and want to find out more.Jim
3 days ago
(1)

How do I find the realtor to call on a listing?

Answer
Hi user, Google the address! You will find the listing agent!Jim
October 08 2013
(0)

How did I miss it?

Answer
Wetdawg, has some good answers! I suggest you get hooked up with a good agent and get on their IDX system. this will send you up to the date information on everything listed with your criteria. You will also have backdoor access into the MLS systems to do your own searches. Any of us can set you up with this!Jim
October 08 2013
(0)

Can you set a selling price for your house that is higher than its worth?

Answer
As stated you can "list "your home at any price you want. But, what if you find a buyer? They want the home because they all of the fantastic upgrades etc, but they need a loan or, at least want an appraisal on the property? It would be very rare to find a buyer who will pay more than it's worth.Let's say the buyer is in place, you are one week from closing, your home is packed up, you have a new residence in line, and the appraisal comes in low and the buyer can't buy it now?  Now what?Good luck, Jim
October 08 2013
(0)

Selling when you are underwater

Response
One other possible option is to ask your current lender if they will give you a personal note for the difference. If you are willing to do this (and can quailfy for this and the new loan) this may be an option for you. Sometimes you need to get creative!! You may ask the seller of your new home if they will credit you $11,000 (pay them list and ask for the credit)  There are many possible scenarios and you are not far off the mark! Think outside of the box and buy now! Prices and interest rates are going up fast!  Sell your car, pay off the balance, close on new house then buy a new car! Think hard and be creative!Jim
June 28 2013
(1)

Seller not turning on water prior to closing

Response
A forclosure may not be the answer for you. There are many pitfalls and risks. As with anything in life if the reward outways the risk you may want to proceed. There is no law dictating the water must be turned on for you, in addition the bank has never lived in the home and has no responsibility to disclose anything as they have no idea what may or may not be wrong with the home.However sometime they will allowYOU to turn on the water, but they will not allow you to perform any work on the property prior to closing, so with the missing water heater that's not going to happen.Also, most towns will turn on water as a courtesy one day for you to do your inspection, but you will need permission to do so from the listing side.
June 28 2013
(0)

My town shut my water off without any notice whatsoever.

Answer
The local towns have been getting pretty strict on past due bills. With all of the foreclosures, short sales and tenants that are skipping out on their bill.If you have not paid a bill for eight months you will be charged an interest accrued and a reinstatement fee plus a security deposit, so be prepared.Jim
June 28 2013
(0)