Diana Margala

Each bank and lost mitigater works differently. If the bottom line is the same it shouldn’t make any difference. Some banks will take concessions (usually not on reoccurring cost). Some like to see the higher dollar amount, others don’t, have your realtor talk to the listing agent and ask how that particular bank works. There is no rule each one is different. They do want fast, easy and fully qualified buyers. So what is most important is that you loan be in place. Then be prepared to possibly hurry up and wait.

Good Luck, make decissions with information.
Diana Margala 909-945-5763 - Sat Jun 28 2008, 08:36

Hi Angelica:

Sean has given you the information that we as Realtors use to help determine the market. On my web site (DianaM.com) you can see the market update for yourself on many of the areas in the Inland Empire, including Riverside and Corona, from January of 2007 to May of 2008. If you would like to receive the information monthly just drop me an e-mail.

Remember this is general information about the movement of the market. Many times different area’s, like zip codes, or nitch areas are different than the whole city, that is why it is important for you to work with a Realtor so that they can explain, what the market is doing and how it might affect your purchase.

None of us have crystal balls….the market is affected by the economy, elections, interest rates, gas prices etc… the most important thing is to make sure that you can afford your payments and that you plan on living in your home for 5 years or longer, to help insure that your investment is a good investment.

Good luck, make decisions with information.

Diana 909-945-5763 - Fri Jun 20 2008, 17:29

Your Welcome Pat!

Good Luck, you need to make sure you ask your realtor the last question, it depends on the offer and how it was worded.

Diana - Wed Jun 18 2008, 17:36

Hi Pat:

Whether you offer $10.000.00 less or $5,000.00 more has to do with, as the other agents have stated, the homes that are similar in size and amenities that have sold in the area. Taking also into consideration what is in escrow and what is being offered for sale you, with the help of your Realtor can help to determine the price that the home is likely to appraise for. If the seller is aggressive, they may have the home priced under the market to generate a competition for offers. If it is a normal sale, the seller could have a number in their head that they must sale their home for in order to close escrow or do what they need to do, which may have nothing to do with what the home is worth. So to give you a complete answer it all depends on the property and even if you make a great offer if it is not what the seller needs, it still may not get accepted.

It is always good to have your agent present the homes that they are using as comparable as to the reason for your offer, if the offer is lower than the asking price. And as the other agents have mentions, you need a pre-approval letter, which includes your FICO scores and debt ratio and the proof of funds to close, to make your offer a stronger offer.

One more thought if you are offer $10,000.00 less and asking for closing costs you are actually offering less than the $10,000.00, so keep that in mind.

Good luck and make decisions with information.

Diana Margala 909-945-5763 - Wed Jun 18 2008, 10:45

There are two sides to each sale and the statistics as to most sales takes in Riverside County would use the combination of both sides. There are also many teams that are used and you may never see or hear from the agent who’s number it goes too, so statistically probably wont get you the answer you are looking for. The best buyer’s agent are those who listen to what the client wants, has the ability to explain the buying process, analyze what the statistics and information is for the buyer, knows, understands and can explain the contracts so that the buyer knows what is happening and might happen in the transaction and can communicate with the buyer. I believe I have all of those traits, if you would like to meet and discuss your needs and the probability of being able to achieve your wants I would love to meet with you. Call me directly and we can discuss what you are looking for and then you can determine if I am the best agent to help you.

Diana 909-945-5763 - Tue Jun 17 2008, 08:47

Hi Lucy:

The other agents have giving you accurate information, there are other bonds and assessments that can be added to certain properties, but all of them are broken down on the tax bill. There usually are phone numbers that you can call also listed so that you can verify their length and if and how much they can increase each year. Your realtor should provide you with that information once you have identified a home that you would be interested in purchasing.

Good Luck and always make decisions with information.
Diana 909-945-5763 - Wed Jun 11 2008, 11:56