My home has sat on the market for a few months. I want out of my agreement, but they offered to give me a new agent that's still in the same brokerage. Is this a bad idea?

8 Answers

How can I eventually remove Private Mortgage Insurance (PMI) from my monthly payment?

I am planning to buy a home with a ten percent down payment, which means I will have to pay for PMI every month. I understand that this insurance protects the lender, but I want to know the process for getting rid of it once I reach twenty percent equity in the property. Do I need to pay for a new appraisal to prove the home value has increased, or does the lender automatically cancel it once the loan balance drops to a certain level according to the original schedule?

7 Answers

How long do I need to wait to apply for a mortgage after a bankruptcy discharge?

I had to file for bankruptcy a little over a year ago due to some unexpected medical bills, but I am finally back on my feet and have a stable job. I am hoping to move, but worried about being rejected by lenders. I'd like to know if there is a standard waiting period for FHA or conventional loans and if there are specific steps I should take to prove financial stability in the meantime.

13 Answers

How do I calculate the break-even point when deciding whether to pay mortgage points?

My husband and I are first-time homebuyers in Denver and we're comparing two different loan estimates from our credit union. One option has a lower interest rate with one point charged upfront, while the other has a slightly higher rate with no points. We want to understand how long we would need to live in the home for the lower monthly payment to actually offset the extra cost we pay at the start.

9 Answers

Can I qualify as a first-time homebuyer?

After so many years are you considered a first time home buyer again?

14 Answers

Should i update and fix things in my house based on negative feedback from the first showing?

recently put our 4-bedroom, 2.5-bath home on the market because we found a new place that gives us more room and cuts down on our daily commute. Our real estate agent was very optimistic from the start, saying that homes in our neighborhood don't stay on the market long, especially ones with a large backyard and updated kitchen.nnBefore listing, we repainted several rooms, replaced some aging light fixtures, and had the carpets professionally cleaned. Even after those improvements, I worried buyers might focus on cosmetic flaws like scuffed baseboards, chipped trim, and an older garage door that we chose not to replace. Our agent felt it wasn't worth spending more money on additional updates and recommended listing as-is, assuring us that the home's location and overall condition would attract plenty of interest if we priced it correctly.nnWe ended up listing at $385,000 based on a comparative market analysis, and our agent was confident we'd have strong traffic during the first weekend—possibly even an offer right away.nnOur first showing was this morning, and the feedback wasn't what we expected. The buyers felt the home needed more cosmetic work than they anticipated for the asking price and thought it was priced a little too aggressively. Our agent mentioned beforehand that the market would tell us whether we had the price right, but her confidence had me believing we were already in the right range.nnWe're fortunate to have enough equity that lowering the price wouldn't be a financial hardship if it comes to that. We were just hoping to sell quickly since we're already under contract on our next home and would prefer not to carry two mortgage payments at the same time.nnHow much weight should we give to feedback from the very first showing? Is it too early to consider lowering the asking price, or should we wait to see if multiple buyers share the same concerns?

5 Answers