Rob McQuade

Having trouble, Rich? If you're asking about a specific property you saw on here, include a link and someone can probably tell you more. If you're asking that as a general question, the numeric part of a street address is the house number.

Did this answer your question?

Rob McQuade, ABR, REALTOR®
McMartin Realty | 2031 K St Ste 100 | Sacramento, CA 95811-4253

Tel (916) 444-7577 or Toll Free (866) 720-CITY (2489)
Fax (916) 444-7977

» The info you want 24/7: http://www.ForSaleInSacramento.com - Sat Nov 8 2008, 09:13

Hi, Tony. This is certainly a good place to connect with REALTORS®--and I'll bet there are a lot of us who've worked extensively with bank-owned properties given that two-thirds of homes that are selling in the current market are foreclosures.

It's common for buyers to request the bank to pay some portion of closing costs on a purchase, especially on homes priced under $250,000. Your strength is that you have 5% to put down, which puts you ahead of a lot of first-time buyers but probably also requires you to go with an FHA purchase. You'll probably be allowed to request up to 6% back from the bank--but the challenge is in asking for money back for those closing costs while still remaining competitive in a "hot" segment of the market: homes priced under $250,000.

I noticed you're shopping in 95834. Are you focused on South Natomas? North Natomas? Both? And be sure to talk with your insurance person about your premiums if you buy in Natomas--decertified levees will soon result in mandatory flood insurance coverage on top of your regular hazard insurance premiums.

If you have more specific questions, feel free to contact agents directly. Spend a few minutes reading through Trulia's questions and answers, it'll give you a feel for who's active and knowledgeable--and who you might be comfortable working with. Then get in touch with a couple agents before choosing an agent. While there are a lot of great REALTORS® on Trulia, not all of them will be right for you.

I hope this helps and best of luck!

Rob McQuade, ABR, REALTOR®
McMartin Realty | 2031 K St Ste 100 | Sacramento, CA 95811-4253

Tel (916) 444-7577 or Toll Free (866) 720-CITY (2489)
Fax (916) 444-7977

» Great homes, great neighborhoods: http://www.ForSaleInNorthNatomas.com
» Established neighborhoods close to Downtown: http://www.ForSaleInSouthNatomas.com
» Search all of Sacramento for real estate deals: http://www.ForSaleInSacramento.com - Wed Nov 5 2008, 19:19

Hi, Mimi. This won't quite be the simple "yes" you're looking for, but are you a member of the Rental Housing Association (http://www.rha.org)? I can't recommend them enough, and one of the benefits of membership is access to these types of screening services--plus you'll have access to free property management and legal advice and you'll have help staying up-to-date on laws and issues affecting you as a landlord... Even if you only own one rental property.

Check out the Rental Housing Association (RHA), they're here in Sacramento or you can visit them online at http://www.rha.org

Best of luck and I hope this helps.

Rob McQuade, ABR, REALTOR®
McMartin Realty | 2031 K St Ste 100 | Sacramento, CA 95811-4253

Tel (916) 444-7577 or Toll Free (866) 720-CITY (2489)
Fax (916) 444-7977

» The info you need 24 hours a day: http://www.ForSaleinSacramento.com - Mon Nov 3 2008, 09:10

Hey, Joe. Rentometer (http://www.rentometer.com) is a great online tool for figuring out what reasonable rents are in an area. Simply plug in an address and some basic details and the website will give you a range of rents in that area based upon online rental postings.

I hope this info helps.

Rob McQuade, ABR, REALTOR®
McMartin Realty | 2031 K St Ste 100 | Sacramento, CA 95811-4253

Tel (916) 444-7577 or Toll Free (866) 720-CITY (2489)
Fax (916) 444-7977

» This and all the info you want online 24/7: http://www.ForSaleinSacramento.com - Sun Nov 2 2008, 10:07

Claude: Yes. Banks will

Banks will often accept a lower offer from an all-cash buyer. I've had clients on both sides of the situation--and boy can it be frustrating for a buyer trying to get his or her first home. The banks are pretty pragmatic about cash offers versus FHA buyers: Who's most likely to be able to close and close quickly?

While FHA has gotten better recently, the banks are still faced with the fact that FHA is going to require that a property be in certain condition (to protect the buyer's interests) and many FHA buyers don't have the financial resources to even cover their own closing costs. Contrast that with an all-cash buyer who can potentially close in 10 days and you see why the banks are willing to accept less just to know the job will get done.

I've had one client who wrote an all-cash offer at 90% of the list price and her offer was accepted over FHA offers above list price. I also have a client who has written multiple offers at or even above list price and who's willing to do any work he can on the home--but he keeps getting beaten out. We had to adjust our strategy to begin looking at homes that had been on the market at least 30 days or that were at least 10% overpriced and weren't getting attention.

As for signatures... It's 2008, the offers we're submitting are usually sent electronically or via fax.

Hope this helps!

Rob McQuade, ABR, REALTOR®
McMartin Realty | 2031 K St Ste 100 | Sacramento, CA 95811-4253

Tel (916) 444-7577 or Toll Free (866) 720-CITY (2489)
Fax (916) 444-7977

» Make Midtown yours: http://www.ForSaleInMidtown.com
» Experience urban living in Downtown Sacramento: http://www.ForSaleInDowntown.com
» Search all of Sacramento for real estate deals: http://www.ForSaleInSacramento.com - Sat Nov 1 2008, 11:10