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Jennifer Venable's Advice

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  • 6 Contributions
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Jennifer Venable wrote:

Info on USDA-RD Loans? We need a realator that knows how to find houses that are eligible?

Answer
Are you going through the USDA loan because it's no money down? Another route I would try so you don't have to find houses in an "area" is to go through other banks that do 100% financing so your not limited.99% of realtors won't know about these programs, I really stay on top of the loans available especially since I work with so many first time home buyers.Key Bank has a key community program with 100% financing there is income limitations or area limitations but call a loan officer in Corvallis or Albany at a Key Bank and see what those are for your area. Each area has a different income limitation,and if you qualify. If you DON"T for Key Bank, Onpoint Credit Union also has 100% financing. There is no income or area restrictions and the rate is about 6.35% 30 year fixed so not so bad for borrowing 100% of the money. I suggest Key Bank first because there is no loan orgination and the fees are a little less exspensive then Onpoint but there is restrictions that Onpoint doesn't have.There is no mortgage insurance on both of these banks as well because they keep the loans with their banks in house.I hope this helps, looking at different financing where you can get a home your happy with- where you want to live, instead of trying to find a house that is in a specific area where you might have to drive farther and not be as happy.I have some phone #'s but they are for Portland locations, so if you google the banks, you can get the Corvallis or Albany locations and phone #'s.
August 17 2009
(1)

We are interested in buying a forclosed home How do I get started? How do I look at these homes?Th

Answer
I would get started with a realtor. Realtors are paid by the seller's of the home you choose, so you really should get a buyer's agent to protect your interests and advise you every step of the way. Realty Trac provides all homes foreclosed but that doesn't mean they are listed yet and you can spin your wheels a lot on these websites trying to find information or the price or who it's listed through. I'm not a fan. Any licensed realtor can look up on their multiple listing system and do a search for bank owned homes that are available for sale.Realtors have access to all the bank owned homes that are listed for sale currently. Look up a few in your area online, see which ones are familar with bank owned and or short sales homes because you want an experienced agent in this field, not someone trying to learn about it with you as their first victem.Not all foreclosed homes and short sales are remarkable deals, keep this in mind. The public has this perception, but the listing agent does comparables of the home before they list the property for the bank. The comparables are the same as if you came to them to list your home. The reason why you see so many bank owned low priced is because the condition. Any home with a ton of work would be priced lower hence a "fixer" and not all if you invest the money into the home makes sense at the end of the day.Many bank owned homes are cash or conventional financing as well which can eliminate some potential buyers due to the conditions of the homes, FHA and Va guidelines often don't lend on them. Some issues could be flooring, dry rot etc.Banks also can take a week to respond and let other offer's come in and then send out a notice of multiple offers and make people compete. Who knows the "other" offers could have been lower than yours, so make up your mind on a price that is reasonable and stick to it. Remember you can't "game' a bank, they are real people with real #'s and if you low ball it unreasonably they might counter higher than they would of if you would have been reasonable from the begining.
August 17 2009
(0)

Are there any homes that are rent to own in this area that does not require good credit.

Answer
Lease options are a form of rent to own. Check out www.leaseoptiongrouphomes.com there is several houses on there that people are willing to rent to own or lease option with a down payment and good credit is not exspected in most cases. The realtor's who operate the site are very knowledgable with this process and where lease option homes are available..They have helped several get into a lease option in the Portland area.
May 27 2009
(0)

What is the average number of showings before a home gets an offer for Portland, Oregon.

Answer
If you provide the map coordinates or street address of where your home is located I could do a search on rmls for "days on market" for sold properties and show you how many days on the market homes in the area are on for before they go sold. Like stated below though, it does matter based on where the home was FIRST priced at, how clean it is, desirability, etc etc. It's hard to compare one home to the other. I wouldn't say this would be accurate to help make any estimates on your house especially with real estate right now, but you could certainly find out just to give you an idea.
May 27 2009
(0)

Is this house for sale?

Best Answer
RMLS records show this house sold and closed on 4/30/2009 for $179,000. It went pending 3/29/09 after 24 days on the market.
May 27 2009
(0)

Hi, Is this house still for sale? If so, can I schedule a showing?

Answer
HI AshleyActually this home DID NOT expire, I sold it on 11/20/08 for $198,000. I appoligize for the misfeed on zillow's information it pulled inaccurate information from another website, in which I have since then fixed. I do have another house 3 bedroom 1 bath, fully remodled in the same neighborhood for $193,750 on 185 SW Willams Drive. The seller's are highly motivated. Would you be interested in viewing this home>?
January 02 2009
(0)