Hi Jeff. In our market, it is unlikely that you will be able to buy a foreclosed property ahead of the rest of the market. That situation just doesn't present itself like it seems like it would.
However, in your price range in Fair Oaks, you should have a pretty reasonable chance of getting a house you would make an offer on even with normally marketed home sales.
If what you are looking for is to get a house at below market value, that just isn't very realistic right now, which is probably why you are running into problems trying to get early info on foreclosures. For the most part, buyers are having to compete in multiple offer situations and offer above list price to get their offers accepted.
Call me and I would be happy to look up any houses that you are interested in visiting or finding out more information on. Or I can even look some up for you if you prefer.
Depends on your area and price range. Try offering on some houses that are not going to multiple offers, to lower the competition from other buyers. Your wait could be a day a week or a month, new listings come to market everyday as others are sold, so have your agent jump on those new listings that fit your buying criteria. She is right. You need to have patience, then pick the one(s) to offer on, when it comes on the MLS.... more
I think it really depends on the situation. For a customer who won't settle for anything but perfection, then building should definitely be an option. Land is cheap and so is building, so why not. At the same time, there are a lot of homes on the market and the odds of finding a "gently-used" home that meets most of their criteria is pretty good, and that home is going to be more of a deal. Building is almost always going to be more expensive than buying, but in this case the old adage of "you get what you pay for" does ring with some truth! Hope this helps... more
Please don't take it personally!
The reasons are many but it comes down to established rules and guidelines. Don't give up....there are pet friendly opportunities out there. I's a matter of finding the right one.
There are a lot of good communities in Rancho Cordova. But I would recommend addressing your question from a different angle, price range. Start with the price range that you are pre-qualified to purchase in. Because of the wide range of home prices, I would suggest having your Realtor look at neighborhoods within your range and give recommendations on the best areas in that range.
If you need my help, just click my picture and contact me anytime.
It's not a true construction loan but pretty close to it…it’s call an FHA 203k loan which can be used for repairs, rehabilitation and renovation You can check out the web reference below for more resources on that type of loan.
Best of luck... more
The fact that this property is being sold as a short sale or any other sale should not change your responsibility for paying rent. As long as you reside there the financial obligation still exists to the owner of the property.... more
I know your home Griv. Time of market can be affected by the price. Your best comp is 4800 Hangar Ct and that house was simply eye candy with stamped concrete, incredible upgrades inside and single story which is sometimes very important because homeowners trading up or looking for retirement typically like the single story model.
Your agent has some great photos on the MLS, your homes curb appeal is great as well. You may just be a little outside of the price range buyers are looking for in that area.
How has the feedback been so far? Any offers at all? I see you reduced your price a bit but you may have to entertain another price reduction. Just FYI, most homes in that price range sold in 3-8 days with one taking 95 days. 67 days on the market just might be an indication you are outside of the price ranges as the house looks great and your agent seems to have taken some great photos. Maybe enhance the marketing description to include more of the features of the home , the granite countertops, the flooring, the greenhouse and garden area all are great features to include in the marketing description.
You seem to have good access instructions. These are all indicators that it must be price.
Best of luck in your home sale
Realty World eCurb REALTORS
Lic # 01305148... more
I am not an attorney so you should consult one for legal advise
If the property sold on 2/21/2013, your landlord would have 21 days to provide you an explanation of charges to your deposit, items that they were charging due to damages etc (of course this would have happened when you moved out, not while you are in possession). The NEW owner in your case should be liable for your deposit as they are the new owners and would have made contact with you prior to deal with transfer of the agreement, inform you where to pay your rent from 2/22/13 forward etc.
They would also be required to provide you notice to vacate. IF the previous owner had given you notice to vacate let's say a week before it closed, it would be invalid upon the sale of the property and the new owner would have to give you notice to vacate. Those are all legal requirements which you haven't noted above.
As for a refund of rent, you are paying for the right to occupy the property, if you lived there up until the 21st, you would owe rent to the previous owner for the period up to the 21st and the remainder to the new owner up until you vacate.
NOW sometimes people say "sold" when they mean "pending sale", meaning the previous owner went into contract on 2/21/13 and they are in escrow, that would make sense why they are dealing with you even if they are no longer the owner. "Sold" is the day escrow closes.
It would be great if you provided an more solid update but if you need to talk to an attorney, I recommend Jonathan Stein in the Elk Grove area.
Regardless of all of this, a landlord is required to provide you an accounting of your deposit within 21 days of the end of your tenancy which appears to not have happened yet so you may be in a little grey area without more information to elaborate.
Realty World eCurb REALTORS... more
If you've paid up, I doubt the owner will want to evict you...whether he could or not is actually a legal matter - best answered by an attorney.
In my experience, owners are not quick to evict tenants if they have been good tenants. An eviction costs money as does re-renting the place to new tenants. I would suggest speaking to the owner and making sure everything is ok at his end. You might also reassure him that you won't miss a payment again.... more
A few nights ago, I wrote that focusing on this area or that area is an owner occupant thinking, not investor thinking. You don't have to learn all the areas, neighborhoods, enclaves, villages, blocks, streets, courts, and shouldn't try. You aren't sending your kid to school there. You aren't commuting to work from there, you won't be sleeping there, or dealing with the neighbors on a daily basis. So - change your question.
Oh okay. If you are going to self manage, then close to home or close to business might be convenient. Or maybe somewhere along the commute route. If you hire a property manager, then where it is matters far less than: " do the numbers work for your financial plan?"... more
Jennifer Pei Chuan Lin
1st American Realty
5740 Windmill Way Ste.1
Carmichael CA 95608
I will give her your contact information as well. Good luck in buying your home!... more
The decision to rent your home for cash flow or sell it is not a tricky one. One will (may) bring you a somewhat steady stream of income, while the other one, selling the home, means cashing out. Based upon the current rent rates in your area, you can assess what your "income" might be. Based upon the current value of the property (I recommend a CMA from a real estate professional), and what you owe on the property, you can assess what profit you may gain from selling the home.
So the question really becomes, do you "cash out" now or keep it and get a slower "cash out" in the form of rent, and hope the equity will continue to increase. Remember, no one can guarantee you increased equity. So I don't think anyone on this thread would be able to answer that for you.
Now the purchase. If you are able to purchase in this current market, you would definitely get the best price at the best rates, no doubt. But you mentioned that you were going to be ready in six to eight months so that you can save toward this new purchase. This means more of your own money going out. What are you trying to achieve? Savings? Future equity?
I recommend you sit with a financial planner and discuss your personal financial goals which will include more than just the real estate, but will also help you see how you should hold your real etsate assets to help you meet your future financial goals.... more
Congratulations! Sounds like you are in a great position to make some exciting changes in your life. Keeping your current home for a rental and purchasing another home to live in with these crazy low interest rates makes a lot of sense. Of course, be sure to check with your accountant and/or tax advisor.... more
Condider doing some homework of your own first and keep in mind that opinions are often subjective; what may be good for one is not necessarily the case for another--visit a neighborhood several times to get a sense of belonging. Check out area statistics; real estate professionals are prohibited from “steering”—enticing a buyer to purchase, or not, in specific neighborhoods; so, you should check out demographics on your own to assure your comfort level can be reached.... more
What is your objective in buying an investment property? You might want to sit and discuss with realtors who specialize in investment properties.
Are you looking for the best return? How much management will you be doing personally vs. hiring? Are you good with paying more for a home based on expecting a higher resale value?
As Elizabeth answered you in anothe question, sometimes it's best to buy in your own backyard. You can monitor it easier, you know the demographics and how to attract tenants to that area because you're familiar with the features of the area....
Why not consider Roseville? if you're considering Fair Oaks, Carmichael, Elk Grove...all have pros and cons, depending on your investment objectives.... more
With that type of history I would think you would be able to purchase a home. When did you purchase that 1st home because you may also be able to qualify as a 1st time home buyer again depending on when you purchased that home. I would love to speak with you and give you some more information. Please feel free to contact me by email or my website www.YourSocalRealtors.com and I would be happy to get you more info and give you a for sure answer to your question.... more