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Tuesday, April 05, 2011

A Simple Answer - Is There One in Real Estate?

Recently I wrote a short note about a question I was asked – “What is the going price for a ….?”  

Of course, the question was asking specifically about a house but the reality is…

Is there a simple answer to any question regarding real estate?

What about mortgages in Brevard County, Florida?  Call a mortgage lender and they will ask you lots of questions and then, based on your responses,  they will let you know.  The rate, terms, availability, down payment requirements, etc.....

How long does it take to build a new home?  Ask a builder like Lennar Builders in Heritage Isle where they already have the land and are already actively building and you may get a totally response than if you ask a custom builder to build on a lot you may purchase.

What are the taxes now and next year?  That is a really big one as it all depends on the exemptions, if any already in place, at purchase, purchase price, purchase date, and more!

Can I get a mortgage on this condo?  Another biggie as it all depends on the type of mortgage, how many units are owner occupied, the number of delinquencies in dues, etc.  This is best answered by your lender.

In real estate there truly is no easy answer.

Your best bet is to consult a local expert. 

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