Hi Msandra2, I must admit Bill has a point. Your questions and options can be determined in a very short time following a comprehensive consultation with a full time professional. It will feel like you have lifted a weight off of you and will likely find exactly what you need in a very short time with little stress.

I would certainly start an interview program where you can talk with a number of agents and choose one to work FOR you. If you have not read the link I provided yet, give it a scan and start on a solid foundation and proceed forward. Best wishes in your search Msandra2!

Michael http://www.MichaelRobertsHomes.com

It seems to me that you are putting yourself under stress through not having enough knowledge of how the house buying process works. You are considering making huge financial decisions without knowing the rules of the game.
Take a deep breath and make a commitment to spend 2 hours with an experienced Realtor (not just a licensed agent). You will then be prepared for the process with facts, not half truths and uninformed opinions.
Just for example, do you know that buying a house through a Realtor will get you a free insurance policy paying $1,500/ month for 6 months, if you lose your job or have a serious injury and can't work?
What you don't know can cost you a lot of time and money.
Bill

If your goal is to buy a house, then e-mail or call me. I can and will represent and service you competently.
There are ways of getting your offer accepted without going to no contingences ( that is pretty dangerous and I don't recommend it at all).
If you need help but feel I'm not the one to help you, you should contact Bill McCord, you seem to like his answers and he has given you valuable insight and I believe he would also represent you well. Don't use the listing agent they won't represent you as well.

Regards,
Allyson
408-705-6578
allyson@homesbyallyson.com

Thanks for the questions. Let me know if my thoughts are wrong.
I would say too much choices make it hard to make decision.
Then I do not want to miss that house , it was just listed that day. the quickest way I think of is to contact the listing agents. Also dual agent would get more commission and willing to help. I also heard there are a lot of cash buyer so the person acts quick, no contingence could get a deal. Some people said it is not buyer's agent any more.
I did think of save money with redfin.com agents who charges 1.5%, I contacted them yet still too busy to arrange house tour. Then I know it is not possible to rely on them. they charge you less at the same time provide less services.
My goal is simple to buy a house.

I,m rather puzzeled why you would request advice in selecting a Realtor to help you then ignore all the advice given and try go through the Listing Agent. Perhaps you are not aware that the Agent is the Company, not the licensee you are working with. If you want to work with a Buyers Agent it should not be someone from the same Company that has the listing. Furthermore, why would you simply start working with someone you don't know and who was referred to you by someone else you don't know but who has a direct interest in the property? Is it possible you think you will somehow save money this way? Be careful, you are swimming in dangerous waters.
Bill

My pre approval letter didnt mention I am putting 20-30% down but the amount I am borrowing. Should I ask my mortgage associate to put this in my pre approval letter? thx

Thanks for the heads up. I got approved on wednesday because I want to make an offer in a house.
While I do not have an agent I contacted the listing agent directly via email that evening. An buyer's agent contacted me back the following day and said she would arrange an appointment with me to discuss about making an offer. As per request, I sent her my pre approval via email after the phone call and waited for her reply. On Friday I still have not heard from her. Considered calling her would sound like I am too pushing, I resent my email and wait. Saturday another person called me said the previous agent needed to present another buyer for the same house and he would present us. Although I am very eager to make an offer, I feel ignored and am not happy with this arrangement without any notice from the previous agent. I thought she would have proper basic communication attitude towards customers. My expectation would be: she should contact me 1st, excused for the absence then give me another agent's contact so that I know she is not available and still willing to help.
I want to know why I would being ignored? I thought I am considerate and pro active.
Anyone would explain the agent's attitude?
What will she do with my pre approval letter?
Thanks.

Msandra2,

I wanted to jump the bandwagon here and answer your last question. Bill McCord is exactly right. At the price range you are looking at there are a lot more buyers that there are Seller's. The average buyer is qualified between $300K to $400K, thus more competition when buying a home. The lenders are slowly holding off on inventory, therefore causing a shortage of available inventory to purchase. Regardless of how experienced a Realtor is or not, they will have a hard time winning a bid for a property without a loan approval. A Pre-Qualification letter just won't do anymore. It must be a PRE-APPROVAL from a direct lender or correspondent lender.

Also just like Bill McCord says, your credit will not be damaged. During the loan process, once they pull your credit to qualify you for a loan, they should be able to use the same to report to close the deal. As an H1B status--again like Bill said--it's most likely going be an FHA insured loan which takes a minimum of 45 days up to 60.

Get the pre-approval! Then find a suitable agent that fits your needs and holds a good track record. Without the pre-approval you're short changing yourself and you will find it difficult to win an offer on a home.

One last thing, if you start to notice that you are not winning on multiple houses you are offering, it's unfortunate but finding a Realtor that has a listing that suits you might increase your chances of getting a home. I wouldn't normally say this but given this weird market that we are currently in right now, it's fairly difficult to win an offer on a home in a good area unless you work directly with a listing agent. I hope this helps.

Kindest Regards,

Marc Yu

Your thinking is logical but unfortunately flawed. In todays market I doubt if any Seller would even look at an offer from someone who is not already pre-approved (NOT Pre-qualified). see http://bmccord.blogs.rwnetwork.com/2009/07/08/pre-approval-n… for the difference.
Note: This is even more important for you as your H1b status means you will probably be using an FHA Loan which takes a little more time to process.
Regarding Credit score issue. Multiple enquiries from mortgage companies over a 45 day period only count as a single enquiry for scoring purposes. The agencies know that this is a normal process and it will have no negative effect on your score.

A side story: Credit score is lowered by 9 point with two hard pull made by last month. I still have not applied for a pre-approval letter. So I think I am not going to apply for anything until I need to make an offer. Will it hinder any realtor to work with me?

Dear McCord,
Can you please reference this mortgage insurance program with a link from the Realtor website. Thanks.

Here's a little bit of extra advice. I strongly recommend you make sure that whoever you decide to work with is a Realtor, not simply a licenced agent. There are numerous reasons for recommending this but a newly released one relevant to our times is the automatic Mortgage Insurance Program that comes with any purchase by a 1st time Buyer when made through a Realtor. This can provide $1,500/m for up to 6 months in the event of job loss or accident caused disability. There is also a $10,000 life insurance included. There is no charge associated with any of these benefits.
No costs for a condiderable benefit is just one of many reasons to always use a Realtor.
Bill

Have you ever consider the case that if you lose your job 1 or 2 years from now, and have to return to your home country? Cause if that happen, you probably won't be able to sale the house. Just my 2 cents.

Hello Msandra2, You may have your credit report pulled up to three times before it causes an adverse affect.
I understand the Alum Rock area is busy. Within the Alum Rock area one school district that scores very low is the Alum Rock School District. Then there is the Berryessa School District to consider. You may find that area will not suit your "safe and quiet" expectations.

I do not expect you to answer this question here but, you should be considering exactly when you are planning to start your family and fit that into your planning. The limits placed on your search within your price range are hard to overcome. A very safe and comfortable townhome development may deliver more than you expected.

Once you have hired your professional, I believe, many new doors will open for you. Literally, you will have a much better opportunity to see more homes. Your Realtor will do so much of the work for you scheduling showings, pre viewing homes, qualifying short sale agents and learning, early on, what the asking price to sale price ratios are likely to be.

I hope your professional has extensive short sale, and REO experience and understands the number of new strategies that are working in this market. I am glad you have come here for advice! I believe this community is one of positive and professional opinions that are a key to success. I wish you great fortune!

Michael
http://www.MichaelRobertsHomes.com

Hi Msandra2,
I recommend you talk to my broker, Judy Wang. She has over 18 yrs experience and has sold a lot of homes in North San Jose 95131 area and other parts of South Bay.
Her profile: http://www.jwrealtors.com/custom/content/7113
Testimonials: http://www.jwrealtors.com/custom/content/7109

Good afternoon MSandra2,

Going through the answers that you have received it appears you have received quite alot of options and some good answers. Therefore I also would like to take this opportunity and offer you my help as a Realtor who had worked and still works with many buyers in that price range. Since shopping around for a house could be a lengthy process specialy considering this type of a market which we are very short on standard listings, very short on Bank owned listings and quite high on Short sale listings you would want to work with a Real Estate agent that has a good knowledge of the area and the market yet you can communicate with easier. After all you don't go shopping with people that you don't like. So it's better that you review as many options as you can (Considering all the offers you get from agents on your question) and work with the one that you can be more comfortable with.
As Wilma mentioned, short sale transactions could be very lengthy and require some patience. That also means you would have to get your approval from B of A or any other lender (Sometimes they want their choice of a lender ,too), they have to get your Credit report and then sit and wait for a few months to get an answer and if you do get an OK on your Offer after all this wait time, then you have to get another credit report because at that point your application is expired.
I am not sure what your time frame is as far as moving into a house but one way or the other you have to be patient specialy considering your preference of a property type (Single family). If you were to consider Town homes or Condo though, there would have been somewhat easier options.
You can setup a search on my site to receive email updates on property listings as they become available in the market and on MLS: http://www.MyPieceOfCalifornia.com.
Good luck,
Rochelle Yousefian
Realtor, e-PRO
Century 21 Hallmark Realty
(408) 204-4242
Rochelle@RealtorRochelle.com

Hello again! FYI, http://www.crimereports.com and http://www.greatschools.org are good places to check out areas by just typing in an address. So are you looking more toward North SJ and up to Sunnyvale areas only? There are a number of listings also in the South San Jose area in your price range but I'm not sure if that is too far for you. I can send you email you listings to look at if you like that are in your price range, no obligation. Short sales can take awhile to get approved, if and when they do. So you would have to be patient on those if you are to make an offer that is accepted. In my opinion, best recommendations come from friends/family or from your own one on one communications with agents like places like here that you feel comfortable with . Hope you are having a great day!

Hi all thanks for the reply. We need help from an experienced agent who can guide us through and gives opinion in the right time.

We are prequalified for 400k by BOA with 20% down but didnt submit documents to get pre approval because we do not know when we can find a home and was told it expires in 30-60 days. also people in other forum said it will lower the credit score after several pulls . We concern about our credit score as well.

We may have children in the future so a safe and quiet district would be preferred. We have seen some open houses in sunnyvale94089, alum rock 95127, north sj 95131. It seems 95131 is a nicer area but we are not interested in townhome or condo; only short sale homes are within our budget. We are not sure if we should try. Those in sunnyvale are listed low but being bid high. Alum rock area seems so busy.

It is very much appreciated if you can recommend an agent that could help us. Thanks

I have been exploring San Jose with a client of mine around your price range and there definitely is much to choose from however it also depends on such things as what type of area you are looking for to live at and the condition of the home. I would also suggest getting preapproved with a lender also so you know for sure how much you can afford as there might be limits as to which loan programs you can apply for with your H1B.

I also offer free, no obligation reports at my website on areas of interest.

Hi Msandra and thanks for your question.

You asked for recommendations, and I do like the Realtors who have already responded to you. Allyson Alessandrini appears very knowledgeable about homes and I like what she writes. Allyson handles quite a few properties, so she has the proven real estate "chops" to work with new buyers. Bill McCord is a no-nonsense Realtor who has always been frank, honest and open about the market and home prices. Based on his responses to other Trulia users, I know he'd give you nothing but the 'straight story' for any home.

As Allyson noted, however, it's good to talk with at least two or three Realtors who can help you, and you have an excellent group of Realtors here who can assist you. However, before diving into the real estate market, contact a local mortgage professional for assistance in determining what loans would be available to you.

Good luck and happy house hunting.

Sincerely,
Grace Morioka, SRES, e-Pro
Area Pro Realty
San Jose, CA

Hi Msandra2, There are so many to choose from and your choice can be made easier using the link below.
The questions answers here will give you a super edge. I would like to also respectfully invite you to a buyer seminar being held in San Jose tomorrow evening. The details can be found amongst the blog posts...second or third, I believe.

Michael
http://michaelrobertshomes.com/348/

Msandra2,
My name is Allyson and I have been working mainly as a buyers agent, I have lots of experience with REO'S and Short Sales and looking at your budget, thats what you will be mainly looking at in your price range.

You can look at my profile here on trulia or you can go to my web site.( see below)
I can set up searchs for you with your criteria so that you can see what is available, I can then walk you through step by step then when you are ready take you through the purchasing process.

I suggest that you look over the profiles of 2 or 3 agents here on trulia, then contact the ones that look good to you, and go from there.

Regards,
Allyson
408-705-6578
allyson@homesbyallyson.com
DRE# 01397256

Hello Msandra,
Rather than praise myself you are free to go to http://mccordrealtyservices.com/testimonials/ where my past clients can speak for me.
Note: as a H1b am I right to assume that you know the loan programs you are restricted to?
Bill

Please feel free to contact me.

Msandra2,

I grew up near there and know a few agents in the area. I can refer you to them but need to get a little more information about what you are looking for so that I pick the one that would work best with you. You can contact me at 704-576-1671 or emarsh@cbunited.com.

Erika

Hi Msandra2,
I am a full time Realtor with COldwell Banker and service the bay area.
Do get in touch with me, 408-7773823, would like to speak with you, and happy to help you meet your needs.
Check out my website.....
Be well and safe, regards
Nina