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Home Buying in Hermosa Beach : Real Estate Advice

  • All44
  • Local Info7
  • Home Buying10
  • Home Selling1
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Activity 12
Mon Apr 18, 2016
Sheryl Arndt answered:
Hello Pbz, you should first start by finding out what your purchasing power is and how much you qualify to borrow unless you are paying cash.

If you figure out what cities/zip codes you are considering, minimum number of bedrooms and the maximum payment/price you are looking to achieve you can be emailed listings to fit your search criteria. Your email address is needed to set you up for the automatic daily updates.

You will need to be pre-approved to be able to meet an agent to submit offers on homes of your choice.

You will need to gather documentation such as one month paystubs, two month bank statements, last two year tax returns, 1040's, 1099's, W2's and all schedules, copies of drivers license/ID and social security card for each applicant.

You may qualify FHA from fico scores between 500-579 with 10% down or minimum 580 fico score may qualify FHA 3.5% down. You may consider a 3%-5% Sapphire Grant down payment program up to 417k from a minimum 620 fico score which does not have to be repaid.

You may consider 5% down Jumbo up to 1.5 million from a minimum 720 fico score and from 10% down from a minimum 680 fico score.

Your qualifications will be determined by your credit profile, debt to income ratios, fico scores, loan program and how much you want to invest into the down payment and closing costs. Your fico scores can be raised within 3-4 days in most cases to qualify for programs, rates and terms as necessary.

It only takes a few dozen questions to qualify, go over your options and email you listings to study and consider. Here are some links to study about me as well as web reference links to many loan programs...

Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
Veteran & VA or CalVet loan specialist
REO & Short Sale Specialist
Credit Repair At No Cost
ALL Loan Programs Available
24+ Years Experience
BRE# 01140252
NMLS# 297251
760-486-4225
9am till 5pm by phone Monday thru Saturday, Sundays by appt., EMAIL ANYTIME 24/7
Under640FicoScoreLoans@gmail.com or HomeLoans4U@live.com
http://youtu.be/MrygA2_8fAY
http://www.trulia.com/profile/SherylArndt
... more
0 votes 1 answer Share Flag
Tue Nov 4, 2014
Dorene Slavitz answered:
You are right about the Seasonal situation. but are you sure about the price? Season or no, a well priced property in this market (10/2014) sells fast! It's not unusual to get offers in the first week of the listing. Please do re-visit your pricing strategy on this, before you borrow from family. ... more
0 votes 5 answers Share Flag
Wed May 28, 2014
Dorene Slavitz answered:
Fri May 2, 2014
Kari Walker answered:
Finding a good realtor is finding someone that you feel comfortable with first. Second you want someone that will take the time and have the knowledge to help you understand the process of buying or selling a home and can answer your questions with useful information.
If the agent does not know all the answers the agent should at least find out the answer and get back to you.
Often new agents are not so bad. Sure they lack experience but they make up for it by giving you their full attention
Jenny, You know the answer to this question already.
... more
0 votes 8 answers Share Flag
Sun Feb 9, 2014
Dorene Slavitz answered:
There are some great growth ares in So Bay. Insider information and trade secrets are given freely when you have a relationship with a local Realtor!
0 votes 5 answers Share Flag
Wed Nov 7, 2012
Irina Karan answered:
You can rescind your original offer.
You can modify it (have to initial those changes, so all should be in writing).
You can stay put on the amount as well.

However, if the bank countered only 1K lower, this usually means that you either have to accept their
offer or pass on this property (don't waste your time).

Hope this helps,

Irina Karan
Beachfront Realty, Inc.
IrinaKaran@gmail.com
... more
0 votes 9 answers Share Flag
Thu Aug 30, 2012
Irina Karan answered:
1. Run your credit report in one company and get the copy of it - with 3 credit scores on it.
2. Call several mortgage pros that are recommended to you by your agent, friends and family.
3. Ask them to provide a Good Faith Estimate of their costs.
4. Tell them your "story" of employment, tell them what your scores are, assets etc.
Ask how much you qualify for. A good mortgage person will be realistic, not overly optimistic,
and will point out good and bad of your situation - and the ways to "prepare" and correct your
financial profile, if need be.
5. Ask a lot of questions, and soon enough you'll be speaking the mortgage lingo
6. Amongst the knowledgable agents, ask what rates and APR they have - on the same day,
preferably same hour. Same note rate with lower APR is your guy/gal.

Hope this helps,

Irina Karan
Beachfront Realty, Inc.
IrinaKaran@gmail.com
... more
0 votes 12 answers Share Flag
Mon May 28, 2012
marie horowitz answered:
My recommendation is to carefully review the existing paperwork to see if there is room for compromise -if not, review the comparables and decide from there. Good luck!
0 votes 13 answers Share Flag
Sat May 14, 2011
Anna Kitras answered:
Well if you are in the Southbay, probably the least expensive beach communities are Long Beach,San Pedro,Torrance (Rat Beach) , El Segundo and North Redondo beach. Other adjacent communities next to the beach cities are Carson,Lawndale,Gardena,Lomita Hawthorne and Harbor City. Also if you go a little south, Huntington Beach, San Clelemente and Oceanside have really great deals right nows.If you are looking for a great property in the Southbay, please email me at annamaria@southbayluxuryhomes.com. I have been involved in the Real Estate transactions for the last 15 years. " Looking to bring HOME OWNERSHIP BACK! ... more
0 votes 7 answers Share Flag
Sun Mar 28, 2010
Monique & Joe Carrabba answered:
Hello Willis,

Totally! But most are confidential. Let me know which house you are interested in and price range and I'd be happy to take you on the tour as long as your pre-approved. If you want a hip and sexy house with cache I am here to help :) LOL!

Monique Carrabba
The Carrabba Group
Keller Williams Hollywood Hills
mcarrabba@kw.com
(323) 899-2900
... more
0 votes 6 answers Share Flag
Mon Jul 20, 2009
Mike Bjork answered:
Both are excellent investment opportunities. The Demographics of Manhattan had changed over the past 10 years, which led to it being the "Highest Median Price" in CA at one point. The school district in Manhattan, I believe, rank in the Top 5 in Los Angeles County. Hermosa is a bit more, "beachy" feel to it. You do tend to find a younger crowd there. The rule of thumb for attractiveness will be finding something closest to the beach you can afford. ... more
0 votes 7 answers Share Flag
Thu Feb 5, 2009
Stewart Fournier answered:
Prices are coming down and are going to continue to come down for at least the next 5 months; however they are not decreasing at the rate of 10% in the beach communities recently. Overall it has taken about a year to see that decrease.

There are too many questions I would have to ask you consider why if you have made reasonable offers they are being rejected. Your Realtor should be able to answer.

The most important question for you is do want to take advantage of the low interest rates currently on the market verses the possible increase in the near future that would offset any decrease in home prices?

I go over this on my blog at http://www.stewartsrealty.com/MyBlog

As you know property at the beach is always a good long term investment. Over the last 30 years we have seen at least a 1500% increase. Buying in Hermosa is a good bet. Don’t be afraid if you hang on long enough you can only win no matter what your fears are now.

Good Luck

Stewart L Fournier
310-968-1730
Agent for BSA Realty
... more
0 votes 4 answers Share Flag
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