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jax1
Love my baby girl!!!
Member since 3/09 3405 total posts
Name:
Jackie
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need opinions-house in Levittown- too good to be true?!
home
Thoughts? I know it's a short sale, but we are in no rush. I think it looks nice. I like the different color walls, doesnt look like it will need too much work. it has a pool and fireplace! We have 10% now, but by June the latest we should have the 20%. It seems like a great starter home. Would love to hear your thoughts. Im going to try to check it out in person soon, but I feel like this is affordable and a good option for us!
anyone??? anyone know the area or opinion on short sales? TIA
It looks GREAT for thatr price no??
EDIT: sorry link isn't working.
http://www.mlsli.com/unidetailsredo_test.CFM?MLNum=2320103&typeprop=1&start=1&rpp=10
It's ML # 2320103
Message edited 11/29/2010 5:00:57 PM.
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Posted 11/29/10 2:12 PM  |
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Long Island Weddings
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nraboni
Uggh...
Member since 10/09 6905 total posts
Name:
Nicole
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Re: need opinions-house in Levittown- short sale
The link is not working for MLS. What is the MLS #?
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| Posted 11/29/10 4:44 PM |
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SummerMom
Now a mom of 2!
Member since 6/07 4970 total posts
Name:
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Re: need opinions-house in Levittown- short sale
It looks like such a nice house in a good area that I'm skeptical - like it's too good to be true, you know? It's been on the market since August at that price. Houses in that neighborhood go for mid- 300's in general, and short sales are usually 290's to 310's or so. So I can't imagine why this one is so cheap.
Go take a look! It couldn't hurt.
This model of house is called a "Levitt Ranch." We just bought a Levitt Ranch ourselves last year and it's this exact model of house, although it's about a 10 minute drive from this house. Ours is in a slightly more desirable part of town (all of Levittown is good though) and the property size is bigger, plus we have a one-room extension on the side of the house. And we paid about $100K more than the asking price of this house, if that gives you an idea of what this one is worth.
Message edited 11/29/2010 4:54:04 PM.
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| Posted 11/29/10 4:51 PM |
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jax1
Love my baby girl!!!
Member since 3/09 3405 total posts
Name:
Jackie
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Re: need opinions-house in Levittown- short sale
Thank for the info. I thought it was too good to be true. A good family friend is a realtor and her brother is the agent, so Im going to try to find out what the deal is with it. Definitely seems too good to be true. Maybe termites or something?
What else could make it so cheap? thanks for the info
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| Posted 11/29/10 4:56 PM |
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jax1
Love my baby girl!!!
Member since 3/09 3405 total posts
Name:
Jackie
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Re: need opinions-house in Levittown- short sale
oh, and just out of curiosity what makes it a less desirable part? You could FM if you want. I'm somewhat familiar with Levittown since I grew up in Massapequa.
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| Posted 11/29/10 4:57 PM |
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SummerMom
Now a mom of 2!
Member since 6/07 4970 total posts
Name:
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Re: need opinions-house in Levittown- short sale
Posted by jax1
oh, and just out of curiosity what makes it a less desirable part? You could FM if you want. I'm somewhat familiar with Levittown since I grew up in Massapequa.
Oh, I didn't mean that this house is in an undesirable part of town! All of Levittown is safe, family-oriented, and in my opinion a nice place to buy a house. I was referring to something specific about my house that I'll fm you about so it's not so public exactly where I live. 
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| Posted 11/29/10 4:59 PM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: need opinions-house in Levittown- short sale
Short Sale Under Contract - Pending Bank Approval
it's been under contract since 9 days of the listing
I am in contract on a similar house in Levittown as the agent and the price isn't too far off-
it being in contract doesn't mean the bank will approve it- they are about $125k off what is owed from the listing price
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| Posted 11/29/10 5:01 PM |
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jax1
Love my baby girl!!!
Member since 3/09 3405 total posts
Name:
Jackie
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Re: need opinions-house in Levittown- too good to be true?!
Sorry Beth, but I'm new to all of this, so bear with me. If it's under contract that means someone put a bid on it and is waiting to see if it's approved? Can we still bid on it? If not, why is it still listed.
Im kind of clueless to all of this still! TIA
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| Posted 11/29/10 5:06 PM |
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ave1024
I Took The Wrong Road
Member since 12/07 6153 total posts
Name:
That Led To The Wrong Tendencies
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Re: need opinions-house in Levittown- too good to be true?!
Posted by Beth
it being in contract doesn't mean the bank will approve it- they are about $125k off what is owed from the listing price
125k off? Why would a bank approve a short sale that far off?
Wouldn't the bank be better off foreclosing? That house is probably worth around 300k i'd say.
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| Posted 11/29/10 5:07 PM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: need opinions-house in Levittown- too good to be true?!
Posted by ave1024
Posted by Beth
it being in contract doesn't mean the bank will approve it- they are about $125k off what is owed from the listing price
125k off? Why would a bank approve a short sale that far off?
Wouldn't the bank be better off foreclosing? That house is probably worth around 300k i'd say.
I didn't say the bank would approve it
they will most likely counter it
the one I am in contract on has an unfinished room and we are in contract at $275k and it's only about $30k short
the bank is NOT better off forclosing- with legal fees and all the other issues banks are having- short sales are the way to go- but that doesn't mean they will take any offer
I can see them coming back with a counter offer on this one (depending what the contract is for- we can't see that until it closes)
once the bank counters- the buyer can come up or walk
it really also depends on who is putting the short sale packet together- I submit mine with comps, damagae report, pictures etc - I am also certified to do them and have a better understanding then most agents of what the bank wants to see
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| Posted 11/29/10 5:11 PM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: need opinions-house in Levittown- too good to be true?!
Posted by jax1
Sorry Beth, but I'm new to all of this, so bear with me. If it's under contract that means someone put a bid on it and is waiting to see if it's approved? Can we still bid on it? If not, why is it still listed.
Im kind of clueless to all of this still! TIA
it shows as available to you- but not to me
it's listed as PBA (pending bank approval)
when short sales are under contract they still show as available to MLS - it drives me nuts
You can't bid on it- the person who did is in contract and did an inspection etc
you can submit a back up offer- if the bank doesn't approve this contract then you can submit your offer and it should be much quicker the second time around
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| Posted 11/29/10 5:15 PM |
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jax1
Love my baby girl!!!
Member since 3/09 3405 total posts
Name:
Jackie
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Re: need opinions-house in Levittown- too good to be true?!
Posted by Beth
Posted by jax1
Sorry Beth, but I'm new to all of this, so bear with me. If it's under contract that means someone put a bid on it and is waiting to see if it's approved? Can we still bid on it? If not, why is it still listed.
Im kind of clueless to all of this still! TIA
it shows as available to you- but not to me
it's listed as PBA (pending bank approval)
when short sales are under contract they still show as available to MLS - it drives me nuts
You can't bid on it- the person who did is in contract and did an inspection etc
you can submit a back up offer- if the bank doesn't approve this contract then you can submit your offer and it should be much quicker the second time around
Thanks Beth! I appreciate the help. I think we might submit a back up offer. I noticed on another site that this house was for sale on 2008, then not listed, then on sale again in 2010. Isn't that strange?
So anything I see PBA, i know it's already under contract. You dont think the bank will accept 249,900?
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| Posted 11/29/10 5:45 PM |
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