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 firstname.lastname@example.org or 530-231-5959 direct.... more
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
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
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
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
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
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
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
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
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!
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!