 I have about 40K in debt. my credit is not great. I want to buy a house. Is that possible? |
| My debt is all on credit cards. I have 2 children and my wife declaired bankruptcy several years ago. We dont really have any money saved up because of the debt we are living pay check to paycheck. ... |
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 I have been given Housing Benefit but no Council Tax Benefit, is this right? |
| I'm a single mum paying rent and get Housing Benefit. In the past I have always had help with rent and council tax. But this time around they say I'm not entitled to any help with my ... |
|
 How much did you pay for your home? |
I'm curious to know what people are willing to spend on their homes, as I am in the market to buy one.
By the way...if your not shy, what do you pay monthly for a mortgage?
And how big ... |
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 Why do they pressure me into buying a house? |
| Single mom with 697,691,696, credit scores and trying to pay off a credit card and a computer. I rent a comfortable condo in a quiet area close to work and family im 34yrs old. My stepdad is telling ... |
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 Does anyone know how much good faith or ernest money is a decent amount to put down on a 360K house? |
| My agent wants me to put down 5% or 15K. I always thought you could put down as little as 3-5K or less. The house is in NY. I know the money goes towards closing cost. I just think if I am buying ... |
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 Who is really to blame about the mortgage mess? |
| I never hear anyone blame the realtor for showing buyers homes they know they can't afford. So many times i hear that it is the mortgage banker fault (which some of it is) but never on anyone ... |
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 Is my request for home repairs by seller unreasonable? |
| I am a first-time buyer, and am under contract to buy a house in NJ. The disclosure statement reported no problems with the house, but the home inspection has turned up a few major ones: the A/C is ... |
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 Would anyone else like to see the public house back to how it used to be ? |
| The pub was never meant to be an eating place of any sort. If you wanted to eat out and have a glass if wine you went to a restaurant. The old type pub was a community place where the anyone no ... |
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 Why should I pay rent when I havent been living in the property? |
| My landlady wants me to pay rent for the time I havent been living there. Ive paid a months rent in advance for august however only lived there that months for 4 days im now moving in properly on the ... |
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 If you knew you were only gonna live somewhere for 4 months what furniture would you buy??? |
| Im gonna move to an apartment near Ft.Campbell KY but only for 4-5 months and then Im gonna move to Utah with my family because my husband is going to go to Iraq.I have an 8 month old who usually ... |
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 Where should I live in North America? |
I'm looking for a location that's:
-Liberal
-Safe Neighborhood for kids
-Good School
-Good Health Care (Hospitals and Doctors)
-Moderate Climate (not too much snow/... |
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 Pay down credit cards or save for a house? |
| Now that the market is out of whack, I am guessing that lenders are going to make touger requirements for giving mortgages. I want to buy a house in 6-8 months. Right now I have about $2000 a month ... |
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 Can I ask my landlord to just use my deposit as my rent if I'm late?? |
| Moved into apt. in Feb. of '06...paid one month's security and first month's rent. From June '06 to August of '06 I had 2 evictions filed against me from them due to my mom(... |
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 Is it difficult to sell your house with out a Realtor? |
| I really want to avoid any extra cost during selling my home. I need to learn the steps to doing it myslef! Any resources and help would be great!... |
|
 Question about a first home purchase? |
Can i roll the closing cost and lets say $10,000 into my mortage amount to pay for new furniture and moving?
Additional Details
I have heard of a 110% loan...What are these?... |
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 How much should I ask for my house when a company wants to by it and 30 others to turn area into strip mall? |
My house is appraised at 49,700
They said they would pay house payment and taxes for a year in the house I am in now if I sale it today.
They said price is negotiable.
The area is ... |
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 Is there a limit on how long a landlord has to cash a check? |
| I have a landlord who is not cashing my check in a timely fashion. I have already contacted them about this. Is there something I can do legally to force them to cash the check within a month?... |
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| Buy through realtor or from owner? |
| Is it better to buy a house through a realtor or from owner directly? Why?... |
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 Considering leaving and going to a new state...any suggestions? |
| No kids, not really any family and no deep deep relationships. Been in the same place all my life and I feel that I would do much better somewhere else. Maybe like a do over.... |
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KEN | Why real estate market is so bad on california? |
??? |
 |
 
jvazjr07
|
That last post is nuts saying its not bad in CA. Sales are down 50% from last year in some areas, foreclosures are at an all time high, ARMs are resetting AND the subprime industry has gone belly up. And you are here saying its not bad?? Whatever you are smoking, pass it around buddy. It's going to get uglier in California. Give it a good 3-5 years for a FULL recovery. Stop drinking that realtor kool-aid, its bad for you. |
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realsaltlakesoccer
|
Because you're asking $500,000 for a house in Anaheim that would sell for $120,000 anywhere else in the U.S. Property is over-valued, demand has dropped, and supply is greater than demand. Economy 101 classes tell me that your classic supply and demand rules are in play here and the prices are going to start falling and property values are going to fall too. Give it a few years for the market to equalize and everything will be back to "normal", if you can call anything in California normal. |
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Michael A
 |
Welcome to the hotel California? |
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Brick
|
By allowing loans to too many buyers without the proper due diligence that is necessary. Eventually you have to pay the piper. We are now paying the piper. |
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SweetBrunette
|
Do you really want to know why?
First of all, it is everywhere.
Secondly, is how the process of the loan is being made.
In the old days, the only way people could get a loan was through a bank, and they had to come up with 20% solid cash as down payment along with a stable job to get a fix loan.
Nowadays, overpopulated. There are other loan options. Adjustable loans
Fix Loans
Balloon Loan
No interest Loan
and so on
Most of those loans scare me. What is even scarier is people don't know they are signing for. The banks are not really banks any longer. For example, Washington Mutual is not really a bank, but it works like banks but as well as a stock broker, the only is location.
People borrowed money with no down payment, no job stability due to current job environment, crazy bizzarre rate without doing the arithemetic, and so on.
Most of these people have nothing to lose so they go into foreclosure which brings the property values surrounding the foreclosure down. That is why real estate market is so bad. It was just matter of when the crashing market is coming.
If you paid attention to the news, the Congress now claim that they want to make it hard for the mortgagor and banks to push people into foreclosure, which is not going to happen because the mortgagor and banks are the ones that have the money. The congress need them for the campaign, without them--there would be no Congress. |
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Kayjay
|
I live in Mass it's bad here too |
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Timberuno
 |
BAD??? Looks good to me...I make money, my clients make money...where is it bad...is it bad cuz the media says so???
Don't believe everything you read.
R.E. has never been better, cut the competition and lif is good!!! |
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linatik
 |
It's not just in California. It is a nationwide phenomenon. The market is at a low point because of the economic and political situation: the country is at war, gas prices are ridiculous, the cost of life is going up. To purchase a house is expensive and it is a big responsibility people think that they are better off renting that way they can move any time they want to and they don't have to stress out about maintaining the property and upgrading in order to keep its value high (these are few points there are many more) |
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...
|
Why is the real estate market so bad in England?
??? |
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crewchief1949
 |
Try Michigan my friend. Over 17,000 homes forsale in Detroit ALONE. over 4,000 in the town I live in. |
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GaryODS
|
California had a huge run up in prices and is now going through a correction.
Part of the problem was investors, the press could take a good part of the blame (articles suggesting that folks quit their day jobs to flip houses etc.) and probably the biggest reason is that houses are still overpriced in most of the state.
There are many contributing factors, but perhaps the biggest is that the governmental restrictions on development and the red tape involved. I’m currently involved in a “specific plan” for 4,900 housing units in the Sacramento area. Now that sounds pretty big, but it’s been tied up in hearings and county planning since 1988. Yup almost 20 years. This creates artificial shortages in supply (of buildable land) and increases prices. When the prices rise high enough then demand bleeds off. That’s where are right now. Of course Sacramento county created development rules to create low income housing. Ridiculous, builders now must set aside a percentage of housing (small number) for low income buyers. This of course makes the rest of the buyers in the subdivision pay a higher price. It doesn’t so solve the low income housing crunch. Just sets up another state lottery.
Look in the Midwest and you can buy a new house 3 bedroom, 2 bath, 2 car attached garage around 1,300 sq ft for a lot less than what it will cost you to buy a vacant lot in most of the larger cities in California. And that’s just government. |
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LenRealtorcom
 |
Which part of California? In the SF Bay Area there are several pockets of high demand desirable properties. This year client was $40,000 over asking with 50% cash down and lost out in the bidding war. Within 20 days in another area I closed a deal for $29,000 under asking. Outside the metro SF Bay Area it is very soft. If your a buyer you call the shots. Inside the metro area each local zone should be identified as Buyer, Seller or Transitioning market. Happy house hunting. |
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RealtyMike
 |
While California does seem bad so are many other states. It goes to the principle of supply and demand. During 2001-2005 interest rates were favorable and the market was driven to all time highs. Many investors from the Bay area and LA purchased in the Central Valley which shrunk the supply of homes and builders built at full speed to keep up. During this time lenders became aggressive and offered programs to anyone that could breath and now we're seeing the domino effect of the foreclosure market building steam as lending as we had known it is restructuring back to the basics. There has never been this type of financial mess along with a soft market (oversupply). Many people in resale blame the builders such as Centex and D.R. Horton for offering large incentives on their homes but in reality they are finding the market. In my community I have already sold 7 homes in May. No matter what type of market publicly traded builders face, they must sell their homes whether their gross margins are 20% or 2%. Currently margins are to the limit so it's only a matter of time until buyers realize the incentives will not get any better. As soon as you see the incentives going away you'll know the market is balancing back out and resale will dramatically improve. |
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