http://www.mountain-living.com/blog/2008/11/18/changing-rules-for-financing-your-summit-county-vacation-home/ We love mountain living... Sun, 14 Mar 2010 07:52:27 +0000 http://wordpress.org/?v=2.1 http://www.mountain-living.com/blog/2008/11/18/changing-rules-for-financing-your-summit-county-vacation-home/#comment-730 Think you can’t buy a Summit County home? Maybe you can! | Mountain-Living.com Blog Tue, 16 Dec 2008 05:10:06 +0000 http://www.mountain-living.com/blog/2008/11/18/changing-rules-for-financing-your-summit-county-vacation-home/#comment-730 [...] and duplexes without homes associations are the easiest types of properties to get loans for.  Condos can be difficult to finance as the lenders are much more rigid with their underwriting requirements, and it seems that the [...] […] and duplexes without homes associations are the easiest types of properties to get loans for.  Condos can be difficult to finance as the lenders are much more rigid with their underwriting requirements, and it seems that the […]

]]> http://www.mountain-living.com/blog/2008/11/18/changing-rules-for-financing-your-summit-county-vacation-home/#comment-879 Time to buy or refinance your Summit County vacation home? | Mountain-Living.com Blog Mon, 29 Dec 2008 21:02:05 +0000 http://www.mountain-living.com/blog/2008/11/18/changing-rules-for-financing-your-summit-county-vacation-home/#comment-879 [...] more information, I recently wrote a blog post on how financing a home or condo in Summit County has changed.  I write on a regular basis, updating this blog, so if you want the info coming into [...] […] more information, I recently wrote a blog post on how financing a home or condo in Summit County has changed.  I write on a regular basis, updating this blog, so if you want the info coming into […]

]]> http://www.mountain-living.com/blog/2008/11/18/changing-rules-for-financing-your-summit-county-vacation-home/#comment-1086 A. Ashley-Foster Sat, 10 Jan 2009 06:39:40 +0000 http://www.mountain-living.com/blog/2008/11/18/changing-rules-for-financing-your-summit-county-vacation-home/#comment-1086 How does one identify "motivated seller" ........todate, a majority, remove property off market, rent to winter visitors and re-market in spring, summer, and fall, hoping to sell for the desired price.....so where is the motivation to sell for a lower price? (See Phil's comments) How does one identify “motivated seller” ……..todate, a majority, remove property off market, rent to winter visitors and re-market in spring, summer, and fall, hoping to sell for the desired price…..so where is the motivation to sell for a lower price? (See Phil’s comments)

]]> http://www.mountain-living.com/blog/2008/11/18/changing-rules-for-financing-your-summit-county-vacation-home/#comment-1093 Joanne Hanson Sat, 10 Jan 2009 15:57:47 +0000 http://www.mountain-living.com/blog/2008/11/18/changing-rules-for-financing-your-summit-county-vacation-home/#comment-1093 Hi AAF, Our listing agreement says that we are not able to tell anyone that the Seller will accept less than the list price without his or her permission. Of course, almost everyone does accept less, especially in a market like this one. Comments that the "Seller is motivated" or wants to sell in a certain time frame need to be made by the Seller, not the broker. I always look at the listing history which is available to us in our MLS. If it has been on the market a year with no price reductions, I assume they are not motivated. However if they are reducing the price every month, it appears that they are wanting or needing to sell. Making an offer will smoke the Seller out so that we can see by their counter (or acceptance of the offer) just how motivated they are. We often submit a letter with comparables to the listing broker, asking them to present it to the Seller with the offer, in hopes that we can convince them that the market price is not the same as the list price and that the offer is one that should be considered. You just don't know for sure until you present the offer and get a response. Many times the listing broker doesn't really know, as not all Sellers are up front with the broker about their financial issues. Hi AAF, Our listing agreement says that we are not able to tell anyone that the Seller will accept less than the list price without his or her permission. Of course, almost everyone does accept less, especially in a market like this one. Comments that the “Seller is motivated” or wants to sell in a certain time frame need to be made by the Seller, not the broker. I always look at the listing history which is available to us in our MLS. If it has been on the market a year with no price reductions, I assume they are not motivated. However if they are reducing the price every month, it appears that they are wanting or needing to sell. Making an offer will smoke the Seller out so that we can see by their counter (or acceptance of the offer) just how motivated they are. We often submit a letter with comparables to the listing broker, asking them to present it to the Seller with the offer, in hopes that we can convince them that the market price is not the same as the list price and that the offer is one that should be considered. You just don’t know for sure until you present the offer and get a response. Many times the listing broker doesn’t really know, as not all Sellers are up front with the broker about their financial issues.

]]> http://www.mountain-living.com/blog/2008/11/18/changing-rules-for-financing-your-summit-county-vacation-home/#comment-1378 July 2009 Summit County real estate update | Mountain-Living.com Blog Sat, 08 Aug 2009 10:45:20 +0000 http://www.mountain-living.com/blog/2008/11/18/changing-rules-for-financing-your-summit-county-vacation-home/#comment-1378 [...] when it comes to condo complexes before we can sell them in the quantities we need to.  Getting a mortgage is still difficult, but knowing which lender to use to start out with makes the process much eaiser.  When your [...] […] when it comes to condo complexes before we can sell them in the quantities we need to.  Getting a mortgage is still difficult, but knowing which lender to use to start out with makes the process much eaiser.  When your […]

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