Renting & Real Estate - November 2007

hi thanks for taking my question

I am a new landlord. I recently signed a lease with two roomates to rent out my co op apartment. I am not sure how my lease is going to work with roomates. What happens if one of the roommates decides to move out for example? Are there any other special consideration that i should keep in mind when dealing with roommates as a landlord? I'm a new landlord and i've never dealt with roommates.

2007-11-24 12:29:55 · 5 answers · asked by tom 1

My house mortage is payed of fully.

2007-11-24 11:51:00 · 11 answers · asked by nita_foxy 1

I know it depends on the area and many other factors, so I'll try to give as much info as possible.

In the city I live in, the median home price is 250,00.00.

The mobile home is in a trailer park (the lot is not being sold with- the rent for the lot approximately 250/month if they kept it here) and in a nice sub-urb that's quiet but still close to town.

The mobile home has two baths and two bedrooms, about 13 years old.

It needs moderate fixing up, which we plan to complete before we put it on the market (carpet, siding, etc). It would be sold only with some appliances, no furniture.

I think it was bought originally for about 45,000.

Any idea how much fair market value would be in a couple years? Definetly not going to sell in this market. lol Anyone that's sold one recently who could give me a price- that would be great. Thanks.

2007-11-24 11:16:38 · 3 answers · asked by BlackDahlia 5

Was wondering (and guessing 'yes') if anyone has done research on what's the average percentage difference in a home seller's asking price and what they finally say 'yes' to.

I know in today's market this may be changing rapidly. If location is a factor I'm looking for info in the Northeast. A town called Haddon Heights in Southern New Jersey, just outside of Philly.

Thanks!

2007-11-24 11:16:04 · 3 answers · asked by Anonymous

I just signed a new lease and when I checked the mailbox it was full of mail advertisments offering services for the foreclosure listing. I went online to check the public records and the mortgage company had filed Lis Pendens in September. What do I do?

2007-11-24 11:02:25 · 7 answers · asked by lmltide 1

We are a military family with orders. We need to sell our home now and are listed on every site available to us. We are not having very many showings and feel lost to this whole process.

2007-11-24 11:00:51 · 4 answers · asked by wineymomma 1

My husband and I are looking to relocate to Pennsylvania in 7 or 8 months and need to narrow our search down. We need a decent area with plenty of entry-level jobs and lots of cheap houses (no more than $50,000). Any suggestions?

2007-11-24 11:00:44 · 2 answers · asked by wild's 2

It appears that updating of the current residential disclosure law is on the horizon in the General Assembly. Any NC realtors know what changes are proposed?

Right now it's kind of like if no one asks don't tell.

Please submit verifiable web reference.

Thanks.

2007-11-24 10:59:47 · 3 answers · asked by Credit Expert 5

our apartment have lots of croaches,we are living there for almost 5 years,and even once the owner didn't fumigate it.we had told her many times.she said its our fault ,because we don't clean the house.every day we clean our apartment,but still there are lots of croaches and they not afraid even in broad day ligth they every where.and the aircon we told her to fix it,but she always said, no money,evry time we complaine.to fix things in her apartment,she also complaine and she always blaming us.we just want to report it to health department but i don't know where to call and who's to call.please help.

2007-11-24 10:50:11 · 3 answers · asked by Gwen 1

when we first purchased our home 2 years ago, (so. cal) the houses were far and few (in our area). Now we have lost over 100k in value, we are so upside down, can't afford the payments, there are so many houses for sale how can we compair to sell ours. we have a second mortgage, the title company didn't figure the correct taxes at signing of papers, now 18 months later they notice our escrow account is 9k in the whole which raised our payments dramatically, we are at our witts end. I have been reading other questions and trying to get answers, but all have different issues, all we want is to walk away so if it's foreclosure, short sale, bankruptcy, giving it back, don't know who to turn to first. can anyone give honest suggestions, will banks sell your home for nothing so they can sue you for the rest? just curious or will they get all they can? Thanks

2007-11-24 10:47:40 · 3 answers · asked by gunny 2

for first time home buyer with no money down credit score 680.

2007-11-24 10:30:04 · 5 answers · asked by Debbie 4

We bought our 3 bed victorian terraced house in an ex mining village in December 2005 for £72,000.

Its very shabby and desperately needs a lot of work done to it, but we just have no way of financing this.

We are a low income family but we are not on benefits. I am not working, partner earns around £12,000 p/a and we get tax credits.

We were turned down for a "minor works grant" as our "contribution" was too high (over £1,000 according to the Council).

We can't apply for a Renovation Grant until we have lived here for 3 years (that will be next December). What are our chances of getting one and what could it be used for? The windows and doors need replacing, we have damp problems, the electrics all need re-doing and also the central heating system. We also have plaster coming off the walls and the house needs redecorating (desperately!)

2007-11-24 10:24:39 · 2 answers · asked by Anonymous

2007-11-24 09:33:08 · 4 answers · asked by Anonymous

My friend lets his flat normally under the terms of an assured shorthold tenancy. However he has not renewed this with his tenant and just allowed the tenant to remain in the flat on the same terms ( i.e. it is rolling over). However he has done this for nearly 5 years. He has just been told by another friend that there may be a risk with this and that the tenant has security of tenure (i.e. a right to remain in the property now) as my frend has not renewed the assured shorthold tenancy and that my friend can now not get the tenant out if he wanted to.

Does anyone know whether this is true and what additional rights the tenant may now have? Thanks

2007-11-24 08:43:31 · 2 answers · asked by Mel B 1

2007-11-24 08:37:33 · 10 answers · asked by D Fresh 2

hi thanks for taking my question

I am a new landlord. I recently signed a lease with two roomates to rent out my co op apartment. I am not sure how my lease is going to work with roomates. What happens if one of the roommates decides to move out for example? Are there any other special consideration that i should keep in mind when dealing with roommates as a landlord? I'm a new landlord and i've never dealt with roommates.

2007-11-24 06:51:58 · 5 answers · asked by tom 1

i need to sell my house asap. not through real estate though.
do you know any really good websites i can post my house on, that isnt so expensive?

anymore advice you can give would be highly appreciated :)

2007-11-24 06:39:25 · 6 answers · asked by Anonymous

I have been unemployed for some time and believe me, I've tried to get back to work. Anyway, I don't have any money left and I cannot pay for my mortgage any more. I am current on my payments, but I've come to the end of the rope.

I know I can default my payment and see what happens. I know I could "borrow" money from a credit card or a relative. But, here is the question... Can I just sign all papers and "surrender" my house to the bank? If I stop paying, they will come back after me, ruin my credit and eventually repossess and foreclose my property. I just want to cut the "middle process" and simply surrender my property to the bank, pack my things and leave. Is this possible?

2007-11-24 06:26:48 · 5 answers · asked by zaxxon 3

2007-11-24 06:25:37 · 5 answers · asked by leos_mama 3

I live in Texas and am a new Loan Officer. I wanted to go leave flyers at my neighbors doors and maybe some apartments, but i`m not sure if its against the law to do that? What about on cars windshields? just a little bit of low cost marketing.

2007-11-24 05:26:31 · 1 answers · asked by 2ManyQuestions 2

Some people tell me i am paying way to much and that the bank can discount them and or eliminate some of them. Is this to much? Can someone tell me?

2007-11-24 05:17:49 · 5 answers · asked by Todd B 1

I want to buy a house but right now my fico is 507 so it sucks, what do I need to do to be able to buy a house? This would be my first house.

2007-11-24 05:04:40 · 9 answers · asked by sarahglian 2

I recently was accepted as an employee with an agency. This job requires me to move out of state. Some of the current terms of my mortgage contract are 1. I cannot lease the property or have it as a source of income and 2. I must make the property my primary residence. These two things would obviously conflict with my transition to another state.

2007-11-24 04:58:43 · 8 answers · asked by Anonymous

How does law provide for the case of Antartica becoming icefree and people want to buy land and build houses there in some future?

2007-11-24 04:26:49 · 4 answers · asked by M K 1

The house has a flat roof and cracks hortizontial at waist height all round the extension. ( heating, wiring, kitchen, bathroom etc needs doing) We have offered 14,000 less asking price but we think the work will cost much much. So we have arranged a local builder to take a look and he has said he will give a written report on things wrong and cost...if we have done this would we still need to pay for a surveyor to come in and tell us want we already know? Finance is already sorted to pay for the house.

2007-11-24 04:23:49 · 10 answers · asked by Val J 1

2007-11-24 03:34:57 · 7 answers · asked by Larry J 1

I'm 25 years old, college grad 2 years ago, and still live at home with the parents in the suburbs of St. Louis Missouri.
Right now I'm grossing approx $2900 per month and taking home approx $2200.
I have no debt and $40,000 in cash.

Financially, which is the better option ?

1. buying a small fix-it-up house in the 130,000 range that I would not particularly be happy in...and then hopefully sell it off in 5 years. Having no handiman or real estate experience, I would make the necisary repars hoping to up the value and then let the real estate agent sell it. The downfall would be giving up the fees to the agent, thus washing out potential profit on appreciation.

#2. I can rent an apartment (which is also not my favorite option because I don't like confined space), but the lower rent per month would allow me to save additional cash for a better house in a few years.

Financially speaking, which sounds like the better choice in the long term???

2007-11-24 02:59:50 · 9 answers · asked by curtism1234 5

I was in an ARM with a 9% interest rate and it was going to chnge that next month, so I rfinanced to a 8.875% rate. Now, I found an even better deal with conventional loan at 6.875% rate for 30 yrs adn 3224 in closing costs. Should I do it again so soon? And what are the repercusions, if any? Are closing costs tax deductible?

2007-11-24 02:32:02 · 5 answers · asked by curious 1

Thankfully, my mortgage is fixed rate. For those out there who are getting pounded by their balooning adjustable payments, do they have an option to refinance their property with a fixed rate mortgage?

2007-11-24 02:25:12 · 8 answers · asked by Mr. Congo 1

If someone buys a house through Habitat for Humanity, are they allowed to sell it and buy one on the open market? Or do they have to sell it back to Habitat?

2007-11-24 01:11:31 · 10 answers · asked by Digital Age 6