Mortgage Lenders - Can you offer advice?

[donnaraeb123]

I thought about renting but worry that people will not take care of my home and they would also have to maintain a hot tub and a 40 ft. in ground pool and I don't want to risk that.

ya, I am just looking for rentals. I was trying to find a home to rent with a pool but no luck so far. found 2 but they were gone. I will keep looking! thanks again everyone.

[southbel]

Great site for finding rentals is on Charleston Real Estate Guide.
Just make sure you select Rental MLS. Of course, if you want to rent from a private entity, Craigslist.

[donnaraeb123]

I guess all I really know is that it will destroy my credit which is why I am still hanging on! December will be 1 year listed and not one call! the house is beautiful too so I jsut don't get it. Brand new siding etc. etc.


Wells Fargo sent us something this week about deed in lieu of foreclosure. I have never heard of that before. Anyone ever done that?



Donna

Originally Posted by calgirlinnc

Can't say I blame you for that. Just be sure you know what you're getting in to if/when you go that route.

[JimmyCh]

Donna do you have a short sell pending or applied for one? That's what deed in lieu of foreclosure is about.

I hate to tell you the reason that your house is not selling is really simple. The price is too high.

[Telum Pisces]

Originally Posted by JimmyCh

Donna do you have a short sell pending or applied for one? That's what deed in lieu of foreclosure is about.

I hate to tell you the reason that your house is not selling is really simple. The price is too high.

Yep, your house is only worth what someone will pay for it. I took a huge hit on my house back home when we moved here. But we finally lowered the price to what someone was willing to pay. It's not about what price you think it should sell for because you think it'a nice house. And it's not about what a realtor says your house should sell for either. Lower the price and they will come.

[TealDreamer]

That's absolutely true. This past Sunday we lowered the price on our house for the THIRD time, and it just got back into the MLS last night. Hoping something will happen now..........

[moneill]

Buying a house isn't just about price. Sometimes even a steal isn't for you and sometimes you are willing to pay more than market but it suits your lifestyle.

[JimmyCh]

Originally Posted by moneill

Buying a house isn't just about price. Sometimes even a steal isn't for you and sometimes you are willing to pay more than market but it suits your lifestyle.

Yea, but if you have no offer for months, it simply means it suits no one's lifestyle. Simply put, everything is still about price. Yes, one offer is an offer, but zero offer simply means price to high for even the one potential offer. I still think I over paid my house, even though it looks like a comp killer in my neighborhood.

A good realtor should know simple rules:

No showing or no offer within 30 days...you are probably 10%-15% over priced if not more.

Good showing but no offer, probably 10% over priced.

If you get offers but are low...probably 5%, and in a down-market, the gap is increasing by days.

There is a developer who buy foreclosures and re-sold them within 30 days on the market. His sold to listing price ratio is at 99.5%.

[DJShymansky]

Don't overlook condition in that equation.

No showings? Price is too high.
Some showings, no offers? Then price and/or condition might need work.
Lots of showings, no offers? Then look to condition primarily. The only way to offset condition, aside from repair/replacement, is a -significant- price cut.