It looks like you have narrowed it down to a second home, dare I assume you are thinking of a single family home? As for an investment that is an open ended answer depending on what you are expecting to gain.
Your gain will be determined on several factors. Those who purchased in 2010 have equity gain. Cash flow is another story.
Also, do you live locally or are you from out of the area? Will you be paying a property manager?
So many questions, I know.... more
Moon-- try this site. It's free, no strings, unbiased and agnostic. The best and only resource of its kind.
http://www.car.org/aboutus/forconsumers/mortgageresource/
If you like it please share it.... more
Hi,
I agree, lots of potential...I recommend you see this before contacting any builder
http://americarealtyonline.com/RealtorWebPage?custompage_id=1483124823
good luck!
$$$BUYER CASH REBATE 50%-60% / SELLER DISCOUNT 50%$$$
Flavio Tejada, MBA-Finance, Realtor, Broker/Owner
(415) 305-2958
Web Reference: http://americarealtyonline.com/... more
Thank you for your question:
As Bill McCord, Brett Bynum and Sally Blaze pointed out termites are very common in this area.
The good news as they pointed out the termites in our area do not do a great deal of damage.
Water damage from leaking roofs, leaking toilets and leaking showers usually are the more significant areas of significant amounts of damage.
Currently we have a very competitive seller's market with multiple offers and overbids and very low inventory.
In this market most homes are sold "as is" with the buyer responsible to pay for any repairs.
I recommend at the very least that you get a property inspection report, pest control report which includes an inspection for both termite damage, water damage and dry rot, and a roof inspection. This will give you a good idea of any repairs that are needed and the estimated cost of those repairs.
Thank you,
Charles Butterfield MBA
Real Estate Broker/REALTOR
Cell Phone: (408)509-6218
Fax: (408)269-3597
Email Address: charlesbutterfieldbkr@yahoo.com
DRE#00901872
.... more
Roberto Ruiz out of my office at Intero Real Estate Services in Los Gatos is great with veteran loans!
Roberto is a veteran himself of the Marine Corps and he has A LOT of experience helping clients purchase using a VA loan. Since many Realtors (including myself if I'm honest) are unfamiliar with the VA loan, it is important that your real estate agent be able to educate the listing agent as to the many benefits to a seller in working with a Veteran and his or her VA loan.
Many, many sellers have either served, have friends or family who have served, or are simply patriotic and would like nothing better than to help a veteran who has been willing to sacrifice for our country. Often, the only thing standing in the way is the unfamiliarity with how the VA loan works.
If you do not have an agent proficient in VA loans, I urge you to call Roberto. He can be reached at
(408) 234-7249
(408) 357-6109
rruiz@interorealestate.com
www.RobertoRuiz.info
Good luck to you Robert! Thank you for your service!
All the Best,
Brett... more
Hi Scon and thanks for your post.
First, before we start, a bank cannot, by itself, force a short sale. The bank can foreclose on a property, but a short sale is something that the seller initiates and the bank approves.
Second, a few things don't make sense to me regarding your situation, and hopefully, you can answer back with some pertinent information:
1. It sounds as if you failed to or were unable to pay for the mortgage on the home. Is that correct? How long has the mortgage been unpaid?
2. Since this is a rental unit, was the home still occupied by tenants and were they paying rent? If rent was being paid, what extenuating circumstances prevented you from paying the mortgage money.
I understand that the rental home here in California may have dropped in value from $700,000 to $300,000, but there is no bank or government program of which I'm aware that will adjust the mortgage principal down for you to meet the lower value of the home. Banks will work with most homeowners in trying to adjust mortgage rates (not principal, but the interest rates) for a short period of time to help homeowners who are in distress with their primary residence and want to keep the home. If the homeowner cannot make payments on the mortgage, then the other option is for the seller to work with the bank in a short sale of the home.
Since this was not your primary residence, however, some of the protections afforded to homeowners who have had loans forgiven in short sales may not be available to you for your rental home. Your best plan of action, right now, is to speak with a qualfiied mortgage or credit counselor in Palm Beach for advice and help on what you can do next. You may also wish to speak with a real estate attorney here in California for assistance and to learn if you have any options available to you after the foreclosure. But, hurry, time is of the essence in resolving these types of matters.... more
Thank you for your question:
The house in your link is not for sale. What you have in that link is merely a public record of that property and an estimate of value if it were for sale.
The last time this property was for sale was back in 2010. This property was listed for sale back in 2010 and sold for $255,000. Close of escrow was May 26, 2010.
With respect to whether or not this neighborhood is a safe place to live, we as Real Estate Brokers and REALTORS are not permitted to give an opinion with respect to that issue.
I have found that one of the best ways to get a good answer to that question is to knock on the doors of properties in the neighborhood, and ask the occupants what they think of the neighborhood, what to they like about the neighborhood and what do they not like about the neighborhood.
After you have talked with approximately 5 to 6 people in the neighborhood you will have a good idea whether or not this neighborhood is a neighborhood that you will be happy with.
Right now there are very few homes available for sale in San Jose. There are thousands of people who need a place to live. There is an enormous amount of demand for houses for sale and there are very few homes that are actually available for sale.
Any homes that do come on the market are sold almost immediately, often with multiple offers of 10, 20 and 30 offers or more, with overbids of $50,000 to $100,000 over the most recent comparable sales not uncommon.
I recommend that if you are going to have any chance at all of getting a home for yourself and your family, that you ask a REALTOR to represent your interests for you. That is the only way that you will have any chance at all of being competitive against all of the other offers and overbids that you will be up against for any house that does become available on the market.
Thank you,
Charles Butterfield MBA
Real Estate Broker/REALTOR
Cell Phone: (408)509-6218
Fax: (408)269-3597
Email Address: charlesbutterfieldbkr@yahoo.com
DRE#00901872
.... more
I have to agree with the others, Allyson and Charles, regarding the steady increase of sales prices in almost all parts of the Santa Clara County--not just San Jose.
And, I also find it interesting that just "now" medial outlets, including national news, have started to notice what we, Realtors, have been seeing since last year that the prices have been creeping up since March, with a real "push" on pricing since May, 2012--almost one year ago.
There is reason to believe that there may be some ease coming soon, as sellers who did not believe us before about the market, are becoming more aware of current market conditions and seriously consider selling their homes. Just in Sunnyvale--my market, for example, available inventory for sale has almost doubled in many areas. While that's still not enough to provide price relief for buyers, it does bode well for the summer that we might see more home for sale soon.
So we are seeing more homes, more sales, and more price increases in the past couple of months. Hopefully, buyers will jump in and get serious before the market exceeds their financial expectations and capabilities.... more
And the winner is...Carl, for fastest fingers. Excellent job, Carl. He's absolutely right regarding the location of the Library Annex (on International) and the Main Library on Branham. This is a great home, so talk with your Realtor about the other amenities in the area.
For school information, check out www.greatschools.com.
For safety and crime information in the area, go to www.crimereports.com
Good luck!
Grace Morioka
Allison James Estates & Homes
1% Listing and Buyer Rebates up to 1.5% of the Purchase Price... more
Hi Julie:
If the Planning Guy says its got to be attached to your home,
then sadly that is the requirement.
Good luck, look into getting a variance.
Perry
Hi Mary
Its not atypical to get no response from Wells.
They are a thorough and solid lender.
They are likely checking if you are a Straw Buyer, status of the seller,
are the facts claimed by seller True etc.
Good luck.
Perry... more
Hi Trulis San Jose:
Frankly we have seen significant interest in all South Bay, MLS Areas.
The County is a terrific state, with buyers and sellers highly motivated to
buy and sell.
Bets regards
Perry... more
Your lease agreement is between you and the OWNER of the property. The property management company is the administrator of the lease. As suggested you need to:
1) Verify that the letter you received from the County is really from the County and not someone trying to scam you. Go to the County directly and take your lease agreement with you.
2) Contact the Property Manager and show them the letter you received from the County.
Understand laws vary by state. You will need to get IN WRITING any changes to the terms of the lease agreement, this means who now owns the property is the who owns the lease, and who is administering the payments. You still own rent it's just a matter of who you pay it to.... more
Thank you, Anita:
That link is very helpful. In most places in the link, it refers to 1148 Glenn and list the public records as 3,669 square feet on a 6,600 square foot lot.
However in the listing printout it also refers to 1148 Glenmeadow Court. That property is a 3 bedroom/2bathroom townhouse. I looked up the public records for that property. The public records say that it is condominium ownership with 1,275 square feet of living area on a 2,016 square foot lot built in 1971.
If the property is actually 1148 Glenmeadow Court, then it sounds like the person who entered the listing information merely entered the wrong address, which is actually the address for a single family house on 1148 Glenn.
Thank you,
Charles Butterfield MBA
Real Estate Broker/REALTOR
American Realty
Cell Phone: (408)509-6218
Fax: (408)269-3597
Email Address: charlesbutterfieldbkr@yahoo.com
DRE#00901872
.
.... more
That buying a house requires little more than visiting open houses and sending in an offer based on Zillow's Zestimate (typically less than the estimate because the seller can counter for more).
Easy part first - look at Zillow's fine print. Their estimate is off by more than 5% in Santa Clara County about 62% of the time. Well if the estimate was high you paid quite a bit more than necessary. If their estimate was low, the seller probably won't even counter your offer. Making unrealistic offers is a good way to waste your time and fill your life with stress.
For the second part: everyone can play baseball and everyone can be their own real estate agent. If you're doing it for entertainment or to occupy your time sure you can be your own real estate agent. Just as professional baseball players are better so are professional real estate agents. For many/most home buyers it takes time to learn what are the most important questions and things to look for. Spend a few weeks looking at houses, make a few dozen offers, apply for several loans, the buyer will learn. Well convincing the seller and the seller's agent that you are the best buyer is easy, just offer lots and lots of cash. Don't have an inspection or thought you understood it, that won't take too much more cash. Oh, the seller's agent doesn't like the lender you're using to get a mortgage because they are too slow to approve, well after your offers are repeatedly rejected even though you offered to pay the most you might figure out what's wrong.
Buyers are best served by spending time on their own profession. Home buyers are typically quite good at their own profession. Spend time learning which house is best for you not how to be a real estate agent.
Juliana Lee, MBA LLB
cell 650-857-1000 email: homes@julianalee.com
Top 2 agent nationwide at Keller Williams Realty
Over 30 years experience
Over 1,000 homes sold in Santa Clara and San Mateo counties
.... more
Craigslist is the largest resource for rentals and for scammers. I think for a single family house in a good elementary school district your rental price is going to be higher than $1700. Unless you can find someone with a cottage.
Check www.RentOMeter.com to compare rates. If the rate offered is lower than average, best guess it's a scam.... more
Hi Lynn,
Willow Glen is a highly sought area to live. These are Town homes.
The Home Owner's Associations normally have a rental limit.
Give me a call if you would like me to check if this particular complex
is not maxed out on their rentals. Yes, Willow Glen is off of Meridian
and Lincoln Ave. It is a very nice community! Here is the map:
http://maps.google.com/maps/place?q=willow+glen+map+san+jose&ftid=0x808e349fe9fcfa03:0x8a27b4690a4f5602
Thank you for your question,
Diana Valverde... more
Dear Kumaresh,
Yes, Arbor Village seems to fall under Evergreen Elementary and Chaboya Middle, Evergreen Valley
High School. You need to call the district to verify since they keep changing the boundary map.
You can also visit my website to review the Evergreen Market Report or use "Find A Home" (connected to Pro-MLS) to research about Active Listings on the market.
http://lamsondang.com
Thanks and Best regards,
Lamson Dang
408-595-6205... more
I charge more for selling AND buying a home, especially if "we" are going to be looking for houses for several years while hiring architects and getting bids on remodels and second-story jobs.... more