Aside from your credit, the other two things are your income and down payment. If you are doing a Refi, it's your equity and income.
Home inspections are customary during escrows by buyers or even before by sellers so the buyer will know what the outstanding structural issues are with all elements of the house. Unless a contractor or other expert is buying the house, buyers typically cannot assess the condition of the house on their own. In a buyers market, these inspections can be the basis for buyers to seek money, credit, or concessions from sellers for the curing of problems found by the licensed inspector. In a sellers market with competitive bidding by multiple buyers, it is usually much more unlikely that sellers will negotiate over the costs to cure items in the inspection report. Still, if a buyer finds that there are more problems brought to light in the inspection report, the buyer may not be able to negotiate concessions but she can still walk away from the deal.... more
The choice is dictated by your current financial position and your game plan. I prefer to put down the largest down payment you are comfortable making. It will get you into better rates, no mortgage insurance, and will give you more market leverage with sellers and agents. A simple way to determine the actual cost is to multiply your monthly payment times the number of months you plan to stay in the property vs. a different loan type and down payment. If it's a short term living situation, paying up front points to reduce the rate is not advisable.
Hope this helps,
Todd Akes... more
You are dead on with being under budget in San Francisco. Unfortunately you will probably not find anything you like in Berkley or near Lake Merritt for that price. If something does hit the market in that range, investors will likely outbid you.
Are you single? Do you make less that $80,000.00 a year? If so, you might be qualified for a few different programs in San Francisco.
check out these links:
The GoWest Group
Mason McDuffie BHG
1427 Valencia, San Francisco, Ca
(415) 746-9520 (office)
(415) 305-1082 (direct)
"work with the best team in the west"... more
Most neighborhoods have a dog park or dog run. In fact, San Francisco you may think dogs are more common than kids. In your area while it's a little more urban jungle like there are small patches of grass or gravel for dogs to be outside to relieve themselves. (At Rincon Hill it's the small patch by the town homes for example, at the Infinity there's grass along Main). As for parks, there is South Park itself which is a bit of a green park space in the middle of the urban area it sits within that looks like a little bit of London right here in SF. Over in the South Beach/China Basin area past the 4th Street bridge you have Mission Creek and the small park around it. It's urban sure, but there are green patches.... more
Read your purchase contract for contingencies. If you have contingencies that are still in effect (you haven't removed them in writing), you should be able to cancel contract based on the contingency and then you should get your deposit back.
Each State and County varies. Typically you can obtain a list of properties set to be auctioned by the lender. These auctions typically take place on the steps of the courthouse. MOST auctions require full cash (no financing, or showing up with a pre-approval letter). Typically, the buyers will have never seen the inside of the home. It is very high risk, but can have high rewards.
Hope this helps.... more
TOP can be measured in so many different ways that it can be meaningless or meaningful. You've named two different areas only.
Brokerages will tout themselves as the top this or the top that just as agents do. Some of those top markers are organic and some are paid for.
My question back to you Tommy T is what about the top means something to you? Is it more important to work with a brokerage that sells the most mansions and therefore has the highest sales volume or a brokerage that has the highest number of transactions because they have the highest number of agents? How about the highest number of transactions per agent or the highest dollar value per agent? Is it important to work with a Trulia agent who pays for the "pro" label or someone who earns the "VIP" label? Do you trust Yelp even though they adjust the algorithm with paid advertisements?
Trust is the most important question here. Just about everyone says they are number one at something. Assuming that you are trying to find an agent to work with, it is still best to ask friends and co-workers for references and then interview them to find one that you trust, one that will answer every question clearly and concisely, one that you trust to represent you above themselves with honesty and integrity. One that isn't going to use you as a further stepping stone to being number one in some category!
Anyway what category of number one do you want, any agent can run you the stats from the MLS.... more
A mortgage loan originator is defined as one who, for compensation or gain (or in the expectation of...), takes a residential mortgage loan application or offers to negotiate terms of a mortgage loan.
This individual may work for either a bank or a brokerage (or an institution that faciliatates both banking and brokering of mortgages, such as RPM).
Hi - in order to truly answer this question more information is needed. Is the purchase price enough to pay off the significant mortgage? If yes, than this would be a 'typical' transaction.
If not, than you may be looking at a short sale situation. This is, the seller must have their lender approve of the sale and agree to accept less than the full balance of the outstanding loan.
The seller and their agent would begin discussions with the lender.
Hope this helps!... more
First, are you looking to buy in Florida or in San Francisco?
Second, do you have a lender that you are currently working with? If not, I have a great team from almost all of the major lending institutions and will refer you to some or all by request. A person trained and licensed in finance would most definitely be the person you'd want to speak to about your options.
Good luck and write me directly if I can assist you further.
With 20 kids it's hard to say, but I can tell you that traffic jams often occur around schools, especially if they're all being picked up at the same time. If it were me, unless I had a kid I wanted to go there I'd think hard about it. Noise from even 8 kids screaming can be annoying... more
Right now just like you, agents and buyers all over the city are sifting through inventory that is as much as two thirds less than 'normal' levels. So instead of being able to pick from five or 10 potential matches you're only getting one or two with lots of other people trying to get in on those properties too. We're seeing this pretty much across-the-board at all price points unfortunately. Most conventional wisdom says that we should see more things out now because the Super Bowl has passed. But San Francisco isn't very conventional. Now more than ever, it's important to have a connected and plugged-in agent to help you find these opportunities before others do or to use their personal networks to be able to present you opportunities earlier and or exclusively.... more
It's 85 days across the city, but it varies in different neighborhoods. There are also a handful that have been on the market over 200 days that is skewing the average. If you'd like to see a spreadsheet with a breakdown by neighborhood send me an email to firstname.lastname@example.org.
If you are considering selling such a property, who you hire, how you price it, and the quality of the marketing plan have a huge impact.
Lance King/Owner-Managing Broker
DRE# 01384425... more