“Location or Price?”

“Location or Price?”

 

 

A Realtor referred a prospective client this morning to discuss a mortgage. The specific loan that he wanted to address was a FHA 203 K.

 

The main discussion was that the home they are interested in was not in the best location and after the work that needed to be done it would make this home the highest priced home in the neighborhood. I’m sure the Realtor was concerned about an appraisal.

 

The challenge for this family is that they are a very large family and they could buy a home in this price range in a better location. I could see this as a real life issue and a decision that many families have to make.

 

They are currently paying nearly $1700 for rent and a mortgage payment after the renovations are done will be under $1300 per month. In discussing location with the client, they already live in the immediate area and think the area is just fine for the family. I am going to do everything I can to get these folks into the home they want to purchase in spite of all the challenges. Would you do anything different?

 

Image courtesy of Jesadophorn/freedigitalphotos.net

Subscribe to my blog via Email:

 

Enter your email address:

Delivered by FeedBurner

 

Joe Petrowsky, NMLS #6869

Right Trac Financial Group, Inc. NMLS #2709

110 Main St.

Manchester, Ct. 06042

Office: 860 647-7701 x116

Fax: 860 647-8940

Cell: 860 836-9294

Email: joe@righttracfg.com

www.righttracfg.com

www.joepetrowsky.com

Like me on facebookfollow me on twitterConnect with me on linkedin

Joe Petrowsky does not guarantee nor is in any way responsible for the accuracy of the information provided herein, and provides said information without warranties of any kind, either expressed or implied.

Equal Housing Statement: We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. We encourage and support an affirmative advertising and marketing program in which there are no barriers to obtaining housing becuase of race, color, religion, sex, handicap, familial status, or national origin.

Comment balloon 27 commentsJoe Petrowsky • September 22 2015 11:09AM
“Location or Price? ”
share
“Location or Price? ” A Realtor referred a prospective client this morning to discuss a mortgage. The specific loan that he wanted to address was a FHA 203 K. The main discussion was that the home they are interested in was not in the best… more
“Love When Things Come Together”
share
“Love When Things Come Together” The challenge was finding the home that my client wanted to purchase and needing to sell her current residence. After speaking to the agent, she told me that property was being listed at a price that will sell… more
“You Just Never Know Where that Next Referral is Going to Come From”
share
“You Just Never Know Where that Next Referral is Going to Come From” I was at a networking event the other day, probably 30 people there. I normally am not shy about going up to someone to introduce myself, even better if there is a group of two… more
“It Doesn’t Always Start off Easy”
share
“It Doesn’t Always Start off Easy” “Hey Joe….. I want to first start off by apologizing to you for my rude behavior yesterday. I wasn’t having a good day, but that was no excuse for me acting like a putz, so I apologize for that. You’re a nice… more
“Attorney tells his client, If You Don’t Close by October it May NOT…
share
“Attorney tells his client, If You Don’t Close by October it May NOT Close this Year” This is not the first time I have heard a client make this kind of statement. These kinds of statements to prospective home buyers are pretty foolish. Scott… more
“Extraordinary Customer Service Costs Nothing Extra but it can Cost…
share
“Extraordinary Customer Service Costs Nothing Extra but it can Cost YOU Future Business” “It was a pleasure speaking to you Joe. Thanks very much for the quick response for the pre-qualification letter and the inspector referral. Thank you. ” … more
“Now that Your Business is Drying Up”
share
“Now that Your Business is Drying Up” That was the heading of an email that I got from a company selling leads. First, I don’t buy leads. Second, would you buy leads from a company that promotes their business in this manner? Here is the… more
“There is Nothing like Repeat Business”
share
“There is Nothing like Repeat Business” “Good morning Joe, It will be close to four years since you handled our refinance. We are now selling our house and looking to buy a condo and would like to work with you again. Thank you very much. ” … more
“What do we need to do from here? ”
share
“What do we need to do from here? ” It isn’t good when a buyer hasn’t been educated about the home buying process. These are some of the questions that I needed to answer, questions that should have been addressed by the selling agent. In the… more
“No Matter How Many Times, FSBO are a Problem”
share
“No Matter How Many Times, FSBO are a Problem” I have written about this topic many times, but it just seems folks don’t get the message. A number of months I got a call from someone that was planning on selling their home without a Realtor and… more