Home Selling in 90502 : Questions & Answers

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Mary Claus, Real Estate Pro in Torrance, CA
Mary Claus answered:
Which pocket or area has homes selling the fastest around South Bay, CA?
Hello Kay~

All of the areas in the South Bay have sales activity. The important selling factor is the price. Homes that are priced at market value, and are in good condition are se ... more
0 votes Share Flag Sat Mar 17, 2012 Home Selling in South Bayport
Lew Corcoran, Real Estate Pro in Easton, MA
Lew Corcoran answered:
I filed backruptcy with my house included. Will a short sale pentalized me, by the IRS with a 1099c? Can this help my credit score now?
In short - no. Under the Mortgage Forgiveness Debt Relief Act, you may be able to exclude up to $2 million in debt forgiven from non-payment of the balance of a mortgage balance on your ... more
0 votes Share Flag Tue Nov 15, 2011 Home Selling in 90501
Helen Chong, Real Estate Pro in San Jose, CA
Helen Chong answered:
I am trying to sell my house ($900K range) in Torrance, CA. How much commission rate is acceptable? It seems like the rate ranges between 5% and 6%.
Dear John: there isn't really an acceptable rate per se, it's negotiable between you and the listing agent. I will be more than happy to discuss further with you about selling ... more
0 votes Share Flag Wed Feb 2, 2011 Home Selling in Torrance
Lydia Yaffe, Real Estate Pro in San Francisco, CA
Lydia Yaffe answered:
We're in a short sale escrow. The buyers bank has said our condo doesn't have a HOA, therefore we're violating the law.
I'm not sure you would be consider a condo without an HOA. You may want to consult a real estate attorney on this one.
0 votes Share Flag Sat Mar 13, 2010 Home Selling in Torrance
Carl Medford, Real Estate Pro in Fremont, CA
Carl Medford answered:
What happens to the second lender (80/20) when a short sale is effected?
Art:

A settlement has to be negotiated with BOTH lenders. In most cases, the first usually signs off fairly quickly. We’ve found it is the second that gives us the most troubl ... more
0 votes Share Flag Fri Jan 10, 2014 Home Selling in 90504
Yanni raz, Real Estate Pro in Sherman Oaks, CA
Yanni raz answered:
can a homeowner rent his home out and buy another one. are there restrictions? our credit is very good.
Of course you can sell and buy, but the question is if you can qualify for a new mortgage.
Can you?
I understand you have great credit, but if you will short sale your home your credi ... more
0 votes Share Flag Tue Aug 18, 2009 Home Selling in Torrance
Yvonne Cousar…, Real Estate Pro in 78240
Yvonne Cousar, REALTOR answered:
Is there an income tax to a rental property (SFR) even if the rent is much lower than the mortgage?
Hi Dee....... talk to your CPA. Rent is income to the property owner and it does not matter if the rent is greater than or less than the mortgage. However, you will probably be able to ... more
0 votes Share Flag Sat Sep 6, 2008 Home Selling in Torrance, CA
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