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Home Buying in Davis : Real Estate Advice

  • All62
  • Local Info9
  • Home Buying20
  • Home Selling1
  • Market Conditions1

Activity 24
Tue Apr 5, 2016
Sally Renner and Rolf Renner asked:
Possibly bank owned. I am not finding these on this site. Only by local site
where I keep looking and the lowest cost house on the comparable section
and then again. Until I get to small…
0 votes 0 Answers Share Flag
Sat Aug 22, 2015
Plhays asked:
New Faze Development is in the Del Paso Rd. area of Sacramento, not Davis. So is Erickson St. You have the home in the wrong city!
0 votes 0 Answers Share Flag
Wed Aug 6, 2014
Roberta Stuart answered:
I happen to have just listed a "fixer' in the McKeon complex north Davis. Bus to U.C. stops at the front door of complex. Lots of happy investors here. Contact me for more info at rfs1733@yahoo.com or 530-231-5959 direct. ... more
0 votes 9 answers Share Flag
Thu Mar 6, 2014
Suzanne Kimmel answered:
Village Homes is a special community located in West Davis considered to be highly desirable and very infrequently do we see homes listed. Depending on the location in the community, size and features you may have a wide price per SF $350-450/SF. If you are thinking of selling we can review the last sales to compare to your home. Call me Suzanne Kimmel ... more
0 votes 5 answers Share Flag
Mon Mar 3, 2014
Bill Cook answered:
cash is king and better than a buyer with a pre-approval letter. Just be sure to give your realtor the most recent proof of funds to close. Fortunately, for people in your position, you can start the loan process to take cash out once you buy using special portfolio lenders. - Congrats ... more
0 votes 5 answers Share Flag
Tue Jul 30, 2013
John Arendsen answered:
The requirements for Accessory Dwelling Units "ADU's" aka, granny flats, casitas, etc. Secondary suite (or accessory suite) is an urban planning term for an additional separate dwelling unit on a property that would normally accommodate only one dwelling unit. A secondary suite is considered "secondary" or "accessory" to the primary residence on the parcel. It normally has its own entrance, kitchen, bathroom and living area.

There are many nicknames and variations of secondary dewlling units but the bottom line is you really need to check with your local building department for exact clarification and zoning requriements for your particular area as they can change dramatically from one jurisdiction to another.
... more
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Tue Jul 30, 2013
Josh Barnett answered:
0 votes 8 answers Share Flag
Sat Mar 23, 2013
Carol Coder answered:
It varies a little by unit, but the copy of the bill I have show for 189 Full Circle it is $545 per month plus some small charges for the water and electricity used in the common facilities. Let me know if there is anything else I can answer for you, or if you would like to set an appointment to see this property. ... more
0 votes 2 answers Share Flag
Wed Mar 13, 2013
Sue Enos answered:
Yes, multiple bus lines throughout the city - within walking distance of GreeneTerrace you will find a bus stop.
0 votes 3 answers Share Flag
Fri Oct 26, 2012
answered:
Hi Smitht1,

You can get an FHA loan up to $580,000 in Yolo County with a 3.5% down payment or a convectional loan up to $474,950 with 10% down.
0 votes 1 answer Share Flag
Fri Oct 26, 2012
Cindy Davis answered:
There is such a thing as CALFHA - This is an excellent program fro 1st time buyers with moderate income. You usually do need some 3.5% downpayment but in certain instances you can get some of your costs paid.

I recommend going to my blog on this: http://1sandiegohomesales.com/calfha-fabulous-program-for-first-time-buyers/
... more
0 votes 3 answers Share Flag
Wed Feb 9, 2011
Mack McCoy answered:
Our area! Seriously, wherever we are, we either think it will turn out well, or we'd leave for greener pastures.

Along those lines, Steven . . . what's a good place to invest in Australia? ... more
0 votes 7 answers Share Flag
Thu Dec 9, 2010
Kim Eichorn answered:
Historically the La Buena Vida condos have always been the cheapest piece of real estate in Davis. They are approximately 800 square feet each and share a garage with one other unit. They have no private outdoor patio or yard space. ... more
0 votes 1 answer Share Flag
Mon Aug 23, 2010
Carolyn Gjerde-Tu answered:
Hi, often there are things reported that were not really sales at all - Davis has experienced some foreclosures but not nearly 15 properties in one day - more like 3-4 per month. Public records that I can access through MLS shows that this was a transfer made by the redevelopment agency of Davis - so this may have been part of a bulk transfer from a developer to the city. Trulia can get confusing - sometimes properties that are labled foreclosure are listed as a sale when it is just the payment amount that the owner is behind on. There have been some sales of homes in Davis this year between $200,000 and $300,000 - however the average home price here still ranges from the upper $400,000 to mid $500,000. ... more
0 votes 1 answer Share Flag
Thu Jun 24, 2010
Santarosaguy answered:
Nearly two-thirds of the city's consumer base are college students who are about to get crushed with huge tution increases. I don't think that bodes well for the local retail/food bev economy.

The city's largest employer, UC Davis, is facing massive cuts in funding. Unemployment in Yolo county is already up near 13%.

My understanding is campus enrollment is expected to decline due to funding issues. Less housing demand, albeit rental demand.

I don't see much positive for pricing in Davis. It's a nice little town though.
... more
1 vote 3 answers Share Flag
Fri Apr 23, 2010
Pacita Dimacali answered:
If you used the CAR purchase agreement, there is a provision there for your buyer walk through where in you would determine the property's condition --- is it the same as when you first saw it? Were the expected repairs done? From waht you're saying, it doesn't sound like it.

And...you said you did not remove the loan contingency --- but the loan funded?

If you didn't release your loan contingency and your buyer walk through indicates that said repairs/replacement were not done, and if you want to back out, you may still be able to do so on the basis of non-performance on the seller's part.

First thing you shoud do: review the provisions of your contract, with your realtor, his broker, and possibly a real estate attorney to cover all your bases.
... more
0 votes 2 answers Share Flag
Sun Apr 4, 2010
answered:
Karina - the reason why there's such a range in closing costs is 3 fold:

1. some of the fees are fixed, some are a percentage of the home price/loan amount. As an example, if your purchase price is around $150k, then your fees should be in the 3.5 - 4% range...if your price is $300k, then you're looking at roughly 3%

2. Paying points to lower your rate is an optional cost. A point is equal to 1% of your loan amount....if you're planning on staying in the home for an extended period of time, then paying points could be justified. Depending on the size of your loan, paying 2 points could nearly double your closing costs!

3. Lastly, costs/fees will vary depending on the specific entities involved in your transaction: your mortgage company/lender/appraiser/title company......these are the major sources of fees.....then there's miscellaneous fees like HOA dues/ Mello Roos fees that may or may not be present in your transaction...

Though this may get a little confusing, I'd be happy to review your situation so I can give you specific feedback!

best regards,

Jeff Marr
Stanford Mortgage
916-947-1312
... more
0 votes 2 answers Share Flag
Sun Apr 4, 2010
answered:
Eric - Steve is spot on, those are the exact calculations I use when advising my clients!

it won't be until you're in escrow when the title officer can order the tax roll for your specific property to learn what the true taxes will be....

best, Jeff Marr
Stanford Mortgage
916-947-1312
... more
0 votes 2 answers Share Flag
Sun Apr 4, 2010
answered:
Nancy - there are 2 levels of needs here, yours and the lending source. Even if the lender doesn't require any of these tests/certifications, you should (and it sounds like do)....

If I were your mortgage consultant, I'd really want to learn what you're purchasing objectives are. You mention that some of the acreage could contain vineyards, so are you planning on harvesting grapes? Are you considering growing any other fruit/vegetables on this property? If not, then you won't be able to obtain a residential loan as one of the requirements is the parcel can't be income-producing. Even if you have no desire for your property to be income producing, if it's zoned for agriculture, the lender will consider it to be income producing. And if you were hoping to get a relatively low interest rate/fees and get a 30 yr fixed mortgage, then you won't like the terms of an agricultural loan.

If you haven't already picked your favorite loan officer, I'd appreciate the opportunity to earn your business!

Let me know if there's any more lending related questions I can address for you!

best regards,

Jeff Marr
Stanford Mortgage
916-947-1312
... more
0 votes 3 answers Share Flag
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