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Thursday, May 20, 2010
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28 comments:
Cara,
Thanks. Repost not necessary. Emily would probably rear her head again (I'm can't resist a pun).
This is isn't my first blog rodeo.
Sans any sort of rules list posted, it's that some information is sensitive and sanitized in this online forum.
I got no problem with that. Just need to learn the posting do's and dont's here.
TTFN.
TN-
Thanks for some additional information about that area. Although its only a mile or so from where I currently live I don't really venture that way very often, so I don't know that much about the area. It wasn't one of the places I was originally looking at when I was thinking about buying a year ago and now that I plan on waiting another year I continue to more or less just look at houses to try and keep a pulse on the local markets...
TN,
I don't know, I never saw them as not appearing.... I'm guessing it was a google glitch more than anything else... But maybe you posted something else that's not there now and never came to my email. (because I don't get the Emily pun....)
Housebuyer,
Best wishes on your coming wedding day!! It's memorial day weekend right? Have a great time and a beautiful wonderful celebration.
Cara-
Thanks and yes it is on the 29th. I finally get to look at the 10 day forecast to see what the weather is supposed to be. So far 81 and sunny. I know the 10 day forecast isn't very accurate, but I would be very happy if it is around 80 and sunny, because it is supposed to be outside :)
Best of luck with the weather. It'll be gorgeous rain or shine. If it rains it just makes a better story. Like the dead seal on the beach at our wedding. :)
Cara-
Good point :) and I am sure that is a good story haha.
this is it! let it be MINE!!!!!!!!!!
MM-
That looks nice. It has a great yard and with a little work the inside will be could be great also. Goodluck if you decide to put a bid on it :)
MM,
Looks like a great house, and the RIGHT price. The prices seem to be all over the place in Arlington Forest, so you'll need to look over the comps carefully to see if you can make hide nor hair of them. There's some logic in them, but the more nicely updated ones are commanding a larger premium than I would have thought, so it's throwing me off. I'd try to compare it only to the others that were listed under $600k, and pay attention to details on size and finish levels and location within the neighborhood. The days on market have been very short. Have you called your agent yet?
Crossing fingers for you!!
MM, very nice house - go away other bidders!
HB, best wishes for your wedding and life after it.
More delusions--assessed value mid 700Ks; asking price 1.15 mill. for a 3 BR house, again with taste-specific decor, on a busy street. Even if your taste matched the sellers' perfectly, it looks seriously overpriced to me. I have a hard time finding even $100K in improvements to this house.
http://franklymls.com/AR7342924
MM,
Please tell me you'd do something with the stair railings to the basement. ;)
Ace,
The garden is nice, as is the front entry and door... The real question is does all that stained glass convey? I would assume it doesn't, since it appears to be hung, but I can't tell. Still it's kind of an odd house minus their decorations.
So, several weeks after closing, and my loan was sold to Bank of America. I know this because the loan agent told me at closing. But I haven't gotten any paperwork from BofA at all. My first payment is due in two weeks or so. I've been pouring through my documents to ensure I haven't missed anything.
So--all those companies trying to sell me mortgage insurance and escrow plans know all about my loan. But me? I'm still kind of in the dark.
Better get it together quick.
Xpovos,
We didn't get the final letter from the bank that bought our servicing rights until 5 days before the due date? But if you're concerned... Call BofA. I know it will be a royal pain to get through because the automated system expects you to know all kinds of numbers that you don't know. But try.
Cara,
Thanks. I'm paranoid about stuff like this, so I've been thinking about calling. But knowing you didn't get the letter until just before yourself makes me feel a lot better. It's industry standard--not me.
That doesn't make it better, but it makes me feel better about it.
Xpovos,
But... my final servicer wasn't finalized until right around then... We got first a letter that the loan had been sold to George Mason, then a letter from George Mason that they had bought it, then two letters' one from George Mason and one from I forget where recording another transfer, then two more sets when it was sold to a GSE and two more verifying the new servicer.
So... while finalizing who owns the loan and who services it is last minute, the letters coming are not.
In your closing documents (if they are like mine) they specify that regardless of who the new servicer is, they cannot fault you for non-payment or late payment if you send the payment to the address listed on your documents.
If getting through to Bof A isn't working? Call the escrow company and your loan officer who originated the loan.
MM,
Great house. I have basically the same house - I think they're all quite similar in that neighborhood. Mine was a fixer upper though and I'm enjoying all of the small projects that are necessary.
Hope it works out for you!
My $0.02
MM,
Good luck!
New windows, a garage and a large, flat lot... sounds great for $559k.
I'm sure you noticed already, but the house on 1st street you were commenting about went under contract last night.
Looks like prices have dropped in Alexandria Old Town too.
Old Town
Here's a listing that I think is odd indeed. It is offered at 187% of assessed value. It was on the market one day at 249,900 and then doubled in price the next day.
AND it is listed as a short sale with two mortgage holders that "needs a lot of work."
WTF?!
missing link, c?
"C said...
Looks like prices have dropped in Alexandria Old Town too."
C - hardly. Just so you know, that house is located on Rte 1 South. And when I say on Rte 1, I literally mean 7 feet away from the thunderous roar of Rte 1 South.
Just for fun, the wife and I went through this house first time it was offered for sale. The music in the front room was way up so we turned it down to see what the street noise was like. Oh dear god.
Every 30-60 seconds or so, even with the windows/doors shut, we had to raise our voices to compete with the noise coming off of the highway. It was unbelievable. Imagine living like this every 30-60 seconds, 24/7 for your whole life. In the back part of the house, it is "ok" but that front room (as well as the upstairs guest room) is completely unliveable, IMO. Oh, and forget about that back yard. As tranquil as it looks, the noise is 5X as bad here.
Dont get me wrong, the renovation is nice. On another street, really any street in OT, it would be worth 200K more, easy. But the noise...it is simply inolerable!
This is the ideal location for a business, and like most places around here, it is zoned "light commercial". Why they didnt market/sell this as a business, I will never know. But to use it as a primary residence, unless you are really hard of hearing, you really need a 200K discount or more to make it "worthwhile", IMO.
So much for posting just before bed. Sorry about the missing link.
short sale
Thanks for the info CRT. I have been keeping an eye on Old Town, which is waaay out of my price range. From my casual observation the prices have dropped very slightly. It's hard to tell as properties there don't come on the market all that often. From the map, that property looked very close to Route 1 but I didn't realize it was as badly affected as you say.
C,
Per assessment records, that house has dropped in value about 50% since the overly eager owner bought it in 2005. Looks as if the bank is out of touch with reality.
And the owner has a different mailing address. I don't know if that is his/her work address or another residence. Maybe VA_Investor would want to chime in, but I would think the bank would be very tough on accepting short sales with investors. It's also possible that there were health problems forcing the owner to move in with family.
Ace,
Two of the shorts that I have purchased were investor owned. One couple was able to get released on the deficiency, I don't know about the other.
I'm looking at two shorts now and both are investor owned. I wouldn't let these people walk. The one couple that was released were both professionals and had a very nice personal residence (I looked them up).
Thanks for the info, VA_I.
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