Gilda Anderson

Hello Sinclair. Homeowners dues vary from property to property and are used for different maintenance items. The monies can be used to cover the homeowner insurance, water, trash and upkeep of the common area - expenses such as gardening, maintenance of the garage, pool, walkways, exterior paint, etc. - Sat Nov 8 2008, 20:30

Hello Nancy. That percentage would be within the acceptable range but the most important question is whether you are comfortable with the payment being close to 50% of your income. As to whether it is wise, I would suggest you consult with a financial advisor or an accountant who could go over in detail what your plans and goals are. Good luck Nancy! - Sat Nov 8 2008, 20:20

Hello Alison. I researched this home on the MLS and if you didn't submit a prequalification letter from Countrywide, that may be the reason your offer was rejected. The language in the MLS stated "...All offers must be ....accompanied by a prequal letter from Countrywide. No exceptions. ..."

If you don't lose faith and keep looking, you will find the "right" home for you. Best of luck. - Tue Oct 14 2008, 11:05

Hello Rosie. Its sounds as if the home being on the market over three months is a requirement of the company before they will consider a FHA (I assume that is what HFA is) loan so you may want to clarify whose time threshold it is. The company can set any guidelines as long as they are within the law and it appears this time threshold is well within their right. The reason a seller is reluctant to accept an offer involving the FHA is that seller has to pay certain costs that the buyer normally pays as well as there being a limit on other costs-in other words a sale involving the FHA is less lucrative for the seller. As to a carry back, here's a scenario of what happened in our last market downturns: A buyer with onlyl 10% down wants to buy a property that the seller wants to sell to the buyer. The banks are either requiring 20% before they underwrite a loan or the interest rates the bank is charging are substantially more with just 10% as opposed to 20% down. In these cases, the seller, being motivated to sell and having adequate equity, would agree to "loan" or hold paper worth 10% (or any other percentage of the sale price). This seller loan (or carryback) to the buyer usually comes with a slightly higher interest rate (though not always) and a shorter loan period. As with the bank, the seller can also foreclose if payments are not made. This is win-win and a great way for a buyer, who may not otherwise have the cash, to qualify for a home loan and also an incentive for a seller who is anxious to sell to get his property sold. - Tue Oct 14 2008, 10:38

another way to determine whether a neighborhood fits your needs would be to drive and/or walk through it at various times during the day and evening.

Good luck! - Wed Aug 20 2008, 08:45

Hello Mia. In order to answer your question I would have toknow what you would consider to be a "good" area. But what I can tell you is that Sierra Madre and Colorado Boulevards are main streets and I would generally consider those streets to be in an area I would live in. That being said, check out the Pasadena Police Departments website to get any crime statistics which will give you an idea of any criminal activity. Here is the link:
http://www.ci.pasadena.ca.us

Best of luck in your search.

Gilda Anderson
Realtor & Notary Public
Dickson Podley Realtors
336 South Lake Avenue
Pasadena, CA 91101
gilda@dicksonpodley.com - Wed Aug 20 2008, 08:28