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Spring House Hunt Chat with Rona Fischman
 
12:52
Rona -  

Rona is here and ready for your questions

12:59
Rona -  

Positive> what do you mean by that?

1:00
[Comment From Liz Jones]
I have a question, my town levied an assessment on all the units on our road when they took it over (it had previously been a private road) and that assessment is part of our RE Taxes, if I sell does that have to be paid off at the time of the transaction or does assessment become the responsibility of the new buyer.
1:01
Rona -  

Liz,
That is a matter of negotiation. Sometimes, the seller tries to pass those fees to the new owner. Disclose everything you know about the fees and negotiate as best you can.

1:01
[Comment From Joy]
Positive meaning more activity and pruchases occurring
1:03
Rona -  

Joy, Yes and no. I am seeing silly over-priced listings, I am seeing houses badly set up for showings, I am seeing under-priced houses set up for bidding wars. Marketing is all over the place.
In some "hot" spots, where inventory is low, there are some slightly rising prices. I hope this stops soon.
There is lots of activity around greater Boston. Much less for my agent in metro-west.

1:03
[Comment From Brad]
Hi Rona, I understand the process of preparing to purchase a house from a normal seller, but what are the major differences when purchasing a REO property as is. Any special preparation steps needed?
1:05
Rona -  

If you are buying REO, or any bank-involved property, there are some added complexities:
The bank has not heart. Your negotiation will be more cold.
Your wait time between questions is longer.
The lender can change it's mind. (sort of mind)
The whole process takes longer.

1:05
[Comment From JW]
how accurate do you think Zillow's estimates are?
1:07
Rona -  

Zillow or any of the other on-line computerized valuations systems are pretty inaccurate. I have heard as much as 10% off in either direction. The problem is that you need to see the properties, especially around here, to know the value. Condition can change the picture by $10s of thousands and so can location.

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