It’s Erik Martin again, writer with The Mortgage Reports website (www.themortgagereports.com). I’m looking to interview mortgage/lending professionals, financial industry experts, real estate agents, and other housing experts for the following story:Strategies for buying in high-priced markets. This article will explore creative strategies that may allow you to purchase a home in an expensive market you might otherwise have been priced out of – including buying with a partner, purchasing a multi-unit property, pursuing a distressed property sale, etc. Below is a list of questions I’m seeking answers to. I can either conduct a phone or email interview (with the latter, please email me back full-sentence written responses that I can use as quotes). My deadline is noon central time, Thursday, December 1.
QUESTIONS:1. What are some creative strategies that may allow a prospective buyer to purchase a home in an expensive/high-priced market? For example, pursuing a distressed/foreclosure home, purchasing with a partner, buying a multi-unit property, purchasing a fixer-upper, and tendering a clean offer with financing in place and no contingencies. Please provide detailed tips for each strategy you list.2. If a prospective buyer is determined to live in a chosen expensive market, which of the aforementioned strategies gives them their best chance of succeeding, in order of importance, and why?3. Is there more flexibility today than there was years ago when it comes to trying to purchase in an expensive market, especially with low interest rates? Or is it even harder now because home prices are so much higher than they were years ago?4. At what point and price/financing approval threshold you recommend prospective buyers abandon their hopes of purchasing in a high-priced market? In other words, what is the tipping point at which the deal will not be worth it for them financially in the long run?5. When and how should a prospective borrower pursue a jumbo mortgage loan? How do these work, who offers them, and how do you qualify?6. Any other thoughts, tips or suggestions on this topic?7. What is your full name, title, company, city/state location, and email address?
Keywords
mortgage/lending professionals, financial industry experts, real estate agents, housing experts
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