Lake Berkley Topics: Potential problem later
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Name:   LifeTime Laker The author of this post is registered as a member - Email Member
Subject:   Potential problem later
Date:   4/29/2007 5:11:02 PM

Have you ever tried to finance a place that the land value exceeded 50% of purchase price? I know it happens with acreage a lot, but a house on 1/2 to 1 acre for the average of 500k now can create problems. If the land is worth 300k and the house 200k, the underwriter is going to have to know the specific market, or be provided tons of data to back up the appraisal. I am sure this is happening at some of the older places like we are talking about. Older, dated structures sitting on great lots could create a nightmare for some lenders, because the underwriters may be sitting in NYC, CHI, LA or anywhere, and not have a clue about exploding market values here.

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Other messages in this thread:View Entire Thread
Property Taxes!!!!! - Lakeman - 4/28/2007 7:05:23 AM
     Property Taxes!!!!! - F1Fan - 4/28/2007 11:57:57 AM
          no lover of many realtors - SandyCreekman - 4/28/2007 1:58:02 PM
               no lover of many realtors - Lakeman - 4/28/2007 4:34:02 PM
                    We need - roswellric - 4/28/2007 6:36:01 PM
                         We need - cobra - 4/28/2007 8:12:41 PM
                              We need - roswellric - 4/28/2007 8:58:53 PM
                                   We need - cobra - 4/28/2007 11:10:12 PM
                                        We need - roswellric - 4/29/2007 8:01:34 AM
                    sure...fine - SandyCreekman - 4/28/2007 9:25:25 PM
                         sure...fine - boataholic - 4/28/2007 10:57:00 PM
               no lover of many realtors - boataholic - 4/28/2007 10:59:48 PM
                    sure it is - RidgeRider - 4/29/2007 2:38:40 PM
     Property Taxes!!!!! - autiger - 4/28/2007 7:34:21 PM
          Property Taxes!!!!! - boataholic - 4/28/2007 11:01:44 PM
          Ouch - roswellric - 4/29/2007 8:04:39 AM
               Ouch - Osms - 4/29/2007 8:18:39 AM
                    Ouch - LifeTime Laker - 4/29/2007 8:22:55 AM
                         LTL - Osms - 4/29/2007 9:07:10 AM
                              Potential problem later - LifeTime Laker - 4/29/2007 5:11:02 PM
                                   Okay--but we're talking taxes, - Osms - 4/29/2007 6:59:01 PM
                                   Well sure... - roswellric - 4/29/2007 8:55:28 PM
                                   Potential problem later - boataholic - 4/29/2007 10:38:08 PM


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