Profile picture for Margaret  Woodruff

Margaret Woodruff

Agent

REALTOR, MBA, PHD, REO Specialist; (6 years experience)

Specialties:
Listing Agent,
Relocation,
Foreclosure,
Short-Sale

Advice

  • (64 Contributions,
  • 1 Best Answers,
  • 7 Helpful)

Contributions are sorted newest to oldest.

Possible to purchase second home, with daughters living in new home and parents staying with first?

Answer

You used to be able to buy this way, and the lenders would consider it a second home for you. I have one of these myself. You would need to talk to a lender to get a complete lender, and let them run your credit, get some particulars about income, etc. I work with several good lenders, who will go the extra mile to help you. If you would like their contact info, contact me via my profile info. Best of luck!

  (0)
What are the proper procedures in being a first time home buyer of foreclosed homes?

Answer

Lots of great answers here already - but they all seem to say the same thing. Whether you are a first-time homebuyer or not, the first thing you need to do is get pre-qualified; that will tell you how much home you can afford. Buying a foreclosure always sounds like a good idea, til you get into it. Most foreclosures are the result of the previous homeowner getting into a bad situation and losing their home. That usually means they have no money for upkeep, which means lack of maintenance. Unless you're handy, that's not a fun situation. Sometimes they are simply angry, having tried to work out something with their mortgage company, and they tear up the place when they leave. I've even seen houses with the systems sabotaged in such a way that only an expert could see it - wires torn out of the basement, AC lines kinked so they won't work, plumbing pipes cut and ripped out.Your best bet is this: Get pre-qualified, then get a Buyer's agent to represent you. Don't hesitate to sign the agreement with them - that obligates them to act in your best interest - and if they are not acting in your best interest, they are acting in the best interest of the SELLER, which is Georgia law. Best of luck in your home search!

  (0)
what are the schools for saxon valley cir in atlanta, georgia?

Answer

Hi George,It looks like those schools would be Woodward Elem, Sequoyah Middle, and Cross Keys high. At least, that's what I see on listings in the area. Of course, it is best to check with the school board with your exact address to make sure - sometimes you will have one school on one side of the street, and a completely different one on the other! Best of luck!

  (0)
Has anyone heard about D R Horton homes in or around Atlanta.?We are looking to buy a house for th

Answer

I suggest you talk to the other homeowners in the neighborhood you're looking to buy into. They will know best of all whether the company is keeping their promises and the quality of the home you're thinking of buying. Oh, and be sure you're working with your own Buyer's Agent; the law in Georgia allows you to hire your own agent, they are usually paid out of the selling commission (make sure they are before you sign up), and if you don't the seller's realtor's first loyalty is to their seller - you guessed it - the Builder. I'll be happy to help out if you need it. You can find my information in my profile online. Best of luck!

  (1)
I would like to sell my town home after one yr of ownership and upgrade. Am I out of luck?

Answer

Talk to several agents. If you only bought it a year ago, and you had a good agent then, you bought at a low point in the market, so should not suffer too much. It also depends on what you did to it - if you gutted the place and did a complete remodel, you likely won't recoup much of that, but if you some painting and cleaning, you might still come out ahead. Best of Luck!

  (0)
Can I sell primary home, move to rental and use profit to pay off other debt?

Answer

I think its great that you want to pay off your debt, but if you rent, you are paying someone else's, debt in the form of their mortgage. Unless you bought your home a number of years ago (ten or more) you're not likely to make a profit, it is more likely to be a loss. It may not look like one, if you have a lot of equity tied up in your home and can take that out to pay off other debts. If that is the case, however, you could also refinance your primary residence at current rates, which are PHENOMENAL, and take the proceeds from that to pay off your other debt. There is an exemption to the profit you can take on your primary residence without paying taxes. You can look that up on the IRS website or ask a tax professional.

  (0)
Lots of showings and no offers

Answer

Two dozen? Wow! That is amazing! I would say that indicates your home is likely priced pretty well - usually if you're over-priced, no one is interested, period, and you won't get showings. Look for something else keeping the home from selling. There are three reasons a house does not sell - price, condition, and marketing. If you're getting all these showings, the marketing is probably good. Do you have an unusual floor plan? Are the rooms crowded, dark, or do you have pets (you may have an odor and not know it)? Is your furniture from another era, say the blue-and-mauve 80's? Your home needs to be open, uncluttered, and DE-PERSONALIZED. Religious artifacts, pictures, statuettes, etc, can turn people off. Personal photos cause people to not want a home because they don't want to intrude into a family's existence, whether consciously or unconsciously. Many, many more factors can affect your home's sale  as well. Hiring a home stager can pay for itself in better sale price (no, I am not one).  Obviously people are finding it, they are just not liking it after they visit. I wish you the best of luck!

  (0)
HARP 2.0

Answer

go to www.makinghomeaffordable.gov; this is the website for the government program and has lots of information about the programs that are available. If you call the phone number, you can also speak to a counselor, who can answer specific questions. Also, propublica.org is a web site that is tracking stories about people's refinance nightmares; you might want to look them up as well. Good luck! its a tough road, but well worth it if you can pull it off!

  (0)