Home Buying in Mill Valley>Question Details

ontarget2k, Home Buyer in Mill Valley, CA

When looking for a lot to build a residential property on in Mill Valley, what should a buyer look for? Where does one start?

Asked by ontarget2k, Mill Valley, CA Mon Nov 5, 2012

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Sheryl Arndt’s answer
I would think the first place to start is the loans to buy a lot and build a home? It is tough for lot loans and construction loans right now. If your a Veteran, CalVet has an awesome loan program which you can buy a lot and build on it within one low interest rate loan.

http://www.under640ficoscoreloans.com/Pages/CalVetHomeLoans.aspx

I know construction loans are out there but my 203k loans are enough with the draws, etc. If your a Veteran, let me know... Someone local in Mill Valley may have some Lenders to share? The last few years the clients I have have been paying cash for their land because there were no land or construction loans.

http://www.under640ficoscoreloans.com/Pages/ContactSheryl.aspx
Sheryl Arndt, Real Estate Broker – Sr. Loan Officer CA only
REO & Short Sale Specialist
20+ Years Experience
DRE# 01140252
NMLS# 297251
760-486-4225
0 votes Thank Flag Link Mon Nov 12, 2012
A great agent needs to help the buyer understand the differences in neighborhoods; their values and influences like weather, proximity to schools and downtown, lot sizes; view or no view?;... and resale possibilities down the line.

One also needs to understand the buyers budget....which controls the options a buyer can approach. Flat lots cost more than hillsides in MV. The agent needs to be very well connected to the current market and other agents to snoop out things not currently for sale and should specialize in Mill Valley.

I have been a top producing agent in Mill Valley for 12 years...and understand the nuances. Please call me for more specific advice.

Michelle Klurstein
Alain Pinel Realtors, 32 Miller Avenue, Mill Valley (downtown MV)
415 250-0895 cell
http://www.michelleklurstein.com / mklurstein@yahoo.com
0 votes Thank Flag Link Tue Nov 6, 2012
First thing to know is that there is a lot of unstable land in Mill Valley so you want to have soils reports done for sure. If it's not on public services then you should also make sure you can get septic approval and a sure water source before completing the purchase.

Prior to opening by Brokerage firm I bought and sold a LOT of land in the Santa Cruz Mtns and other areas so I'm happy to do a no-strings consult. We also have some experience with getting great deals on land that wasn't on the market and we could explore that as well if you like.

But before you go down that road be advised - unless you are just going to hand everything over to a contractor and never check in, something I strongly advise against - you are about to take on a second full time job and most likely could buy something existing for less.

Best Regards,

Lance King/Owner-Managing Broker
lance@fixedrateproperties.com
415.722.5549
DRE# 01384425
0 votes Thank Flag Link Tue Nov 6, 2012
A agent can also help you with your search for a lot. We can show you lots on flat land as well as ones that may be on a hill and require other considerations such as retaining walls as Joe mentioned. When looking with clients like yourself, I also look at homes for sale that might be condemned or "teardowns". This does create the added complication of a demolition, but in a market with such limited inventory, you want to look at all options.

I would be happy to discuss this with you further if you are interested. You can reach me at laurenramsey22@gmail.com or 415.450.5955.

Best of luck to you!
0 votes Thank Flag Link Mon Nov 5, 2012
You can find available lots and home ideas on our website LegacyBuilders.com. Since most flat lots will cost quite a bit of money, consider a down sloping lot with minimal retaining walls to save money. You may still create some level yard area, but will avoid the excessive cost of removing and retaining soil. Feel free to contact us for more specific info for your needs and also for lots not listed on the MLS.
0 votes Thank Flag Link Mon Nov 5, 2012
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