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Home Buying in Millbrae : Real Estate Advice

  • All40
  • Local Info3
  • Home Buying21
  • Home Selling1
  • Market Conditions3

Activity 27
Wed Dec 11, 2013
JR Thrasher answered:
California = Community Property if you are married. No matter how you take title.

BTW...John is right, don't look for advice this important on the internet. Trulia is a pretty smart community, but some of us just sound smart on the internet.

J.R. Thrasher
http://www.SanDiegoRealEstateVeterans.com
619-929-0105
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1 vote 6 answers Share Flag
Mon Dec 9, 2013
Brian Nguyen answered:
Your name will at least be on the title, right? Being on the mortgage means you have the responsibility to pay off the house. Being on the title means that you are entitled to the house. Either way, in this situation, the mortgage should get passed onto you anyways if something unfortunate happened. Have you gotten anything started for a loan for your new home? If not, I would be glad to speak with you to help you get started on financing. Well I hope this helps, if you have any further questions or if you would like a loan, feel free to contact me. Well I hope this helps! If you have any further questions or if you would like a loan, feel free to contact me! Good Luck! Brian Nguyen Sr. Mortgage Banker NMLS # 659743 Phone: 949.667.2887 brian.nguyen@nafinc.com ... more
0 votes 7 answers Share Flag
Sat Nov 23, 2013
Elena Talis answered:
I also work with my husband, but both of us are realtors. The pro - they work together well. The rest is up to you to decide - are you comfortable working with them? Will you hire one of them without the other? How did you meet this couple? Etc., etc., etc. ... more
0 votes 8 answers Share Flag
Mon Nov 18, 2013
answered:
Two thoughts, no is a full sentence. And check with your lender if you are financing the home, post occupancy can be an issue with some types of mortgages.

Jim Simms
NMLS # 6395
JSimms@cmcloans.com
Financing Kentucky One Home at a Time
I answer questions about financing real estate based on my decades of experience dealing with mortgage underwriters. This answer is my personal opinion, has not been reviewed or approved by the company I work for. I do not offer legal or tax advice, if you need answers from an attorney or CPA find one knowledgeable in your local market.
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0 votes 7 answers Share Flag
Mon Nov 18, 2013
answered:
Well the seller sounds pretty tough, you already lost round one of negotiations. Are you sure you want to be going against this guy by yourself?

Really though, if you have had an agent working for you, now it appears that you are kicking the agent to curb and you do not seem to care if they get paid. What if your employer had you do a bunch of work, found a loop hole and then found that they could get away without paying you? You would think they were a monster. I do not know how much work the agent did for you. If they agent spent a lot of time with you, the right thing is to want them to be paid for their work.

People have a false idea and do not understand how hard agents work. Agents should be paid well if for no other reason that they are at risk of not getting paid. Sure people love to avoid paying agents, they are under the false assumption that their job is easy. That is exactly why agents rarely show these "for sale buy owners." These are the greedy rascals not the agents.

If you are buying a home for sale by owner, my guess is they want full market value, without you having the protection of your inspections and disclosures required by law. Well if you are not getting the protection of an agent, you should get a discount. Are you getting that discount?

Then you are being cheated.

What happens when you get into the house and find out there is mold, a leaky roof, plumbing problems etc.? Do you think you will be able to call the seller, tell them about it and have them write a check to fix it?

The fact is that with the internet you do not need an agent to find a house. A trained dog could find a house. You need one to negotiate on your behalf.

I say it may not be a good idea to negotiate with the seller yourself, he is already kicking your butt. Go to your agent have them write up an offer with the finders fee written into the agreement.
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0 votes 7 answers Share Flag
Wed Oct 9, 2013
The Medford Team answered:
A trustee for an estate is exempt from providing disclosures when they have not lived in the property in recent history. However, they ARE still responsible to disclose facts they are personally aware of that may influence buyers. Death on the property is a perfect example of this. If the trustees are aware of a death in the past 3 years, it needs to be disclosed. The same applies to any agents for the buyers or sellers - if they are aware of a death, they are responsible to disclose it. ... more
1 vote 5 answers Share Flag
Tue Oct 1, 2013
colin mclaughlin answered:
My recent listing in Millbrae had a total of 5 offers of which 2 were all cash. A good listing agent will always look at the overall strength and terms of all offers and will not just automatically choose the all cash offer. Many times (price aside)
the all cash offer is not the best choice for sellers. In our case the cash offers ended up not getting the property.
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0 votes 2 answers Share Flag
Tue Oct 1, 2013
colin mclaughlin answered:
Despite being so well located Brisbane is relatively unknown to many in the bay area.
the Visitacion side(west side of 101) is very nice. I think many associate Brisbane with the the big office buildings on the east side of 101. The community of Brisbane has a great feel! ... more
0 votes 1 answer Share Flag
Thu Jan 24, 2013
Elena Talis answered:
The main disadvantage is that you are buying only the home, no land like if you are buying a conventional home. That is why it falls in value and you have to pay rent for the site where it is standing, Other than that a mobile home may be the least expensive way to live in the Bay Area. ... more
0 votes 4 answers Share Flag
Sat Dec 8, 2012
Philip Cabral answered:
I have clients in all parts of the Bay Area, from as far north as Fairfield to as down south as Los Gatos and inventory is low for all the SF Bay Area counties. I am a native of the area and this is typical between November-February.

I am an agent, but I am a homeowner first. I have purchased homes in California, Hawaii, and Portugal. Let's talk Real Estate. Let me know if I can be of any help.
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0 votes 7 answers Share Flag
Mon Nov 12, 2012
Andrew La Mont answered:
For sales since 06/01/12 the average days on the market is 20. 7 out 11 have been over asking. There are 22 homes that are pending sale with 20 days on the market being the average. There are 12 currently for sale with 52 average days on the market due 3 homes on the market for 88 to 210 days. Currently there is a low inventory of homes for Millbrae and many sales are getting over the asking price
Regarding down payment: 20% or more will get you best interest rate and put you in a stronger bargaining position, of course the more down the better. You can get other loans with less down but the interest rate and closing costs will most likely be higher. Feel free to call or email me and I will send a full report on list price versus sales price and many more details. I live in Millbrae and know it well.
Andrew La Mont
Coldwell-Banker
650-697-6567
email: ATlamont@prodigy.net
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0 votes 1 answer Share Flag
Tue Sep 11, 2012
Robert Chomentowski answered:
Benefits of a house:
- a better overall investment, will appreciate more
-more space, privacy
-no HOA (hoa's can be notoriously dysfunctional)

Benefits of a condo:
-many times you can get a much better *location* than you can with a house, b/c houses are far more expensive in the really prime locations (close to beaches, best schools, work, etc...) - this can mean you spend a lot less on gas and live in a walk-able neighborhood you love with a condo. With a house you may be way out in the burbs
-more security (condos are behind locked gates usually and you are among many units and possibly on a 2nd or higher floor so harder for thieves to break in)
-water bill, exterior, roof, landscape is all taken care of by HOA...less headache for you
-condos right now are much more depressed in prices b/c financing on condos is bad, many times back to 2001 or earlier prices where houses are not nearly as depressed in price
-lower monthly payment than a house b/c price is so much less than a house
-often times condos take much less cost to upgrade and rehab than a house
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0 votes 8 answers Share Flag
Fri Aug 19, 2011
Jay Grossman answered:
Buying is not the same as Selling;

#1 New Condo's are picked over based on "Location", "Quality Level", and a "Match" with the Buyer's needs.
So, waiting may mean that you can't get the Condo that you really wanted.

#2 Valuation is based upon "Comparative" valuations and you should always look at an "Income" Valuation
since the difference in the two numbers is "RISK". It is true that prices may go up or may go down depending on the DEMAND...the advantage of "NEW" is the latest designs and the Warranty (much like a new Car).

#3 Buying without a Buyer's Side Agent is somewhat dangerous...that is like Buying in the Dark and you can easily miss out on some Credits (It basically boils down to Debits and Credits at the end...but there is a "Front End" to the Deal as well as the Loan...and that is where a good Buyer's Agent will help you to get the best deal possible).

A new toilet is always better than a used one; but, the "New" always takes a year or two to get the "Bugs" worked out. Just make sure that you use a Buyer's Side Agent with experience in New Construction
and "Fixing and Flipping".
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0 votes 4 answers Share Flag
Thu Feb 3, 2011
Hforhouse answered:
The deal was closed after 8 month waiting. Chase agreed what BofA asked for (which was a reasonable amount), and the final purchase price is close to 1M - just slightly lower than the fair market price. Chase approved within 3 months and gave one extension, but BofA took much longer. Anyway, I got the house finally.

Hope this help!
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0 votes 10 answers Share Flag
Mon Dec 27, 2010
Louri Groves 767-8158 answered:
Mindy,

I would advise my client to say, "No way!"

Hope the sellers' vacation is fun and they come back home safely. But it's unreasonable for them to ask you to remove the loan contingency, especially since it will leave you unprotected if your lender does not fund. They agreed to this contingency. Remember, you don't have a loan approved until it is in writing.

Best to you Mindy and happy new year!

Louri Groves
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0 votes 9 answers Share Flag
Fri Dec 24, 2010
answered:
Hi Mindy,

Someone sure seems to be pressuring you to remove your loan contingency. In the last answers to your question (including mine), here -

http://www.trulia.com/voices/Home_Buying/We_made_an_offer_to_a_condo_in_late_Nov_and_got_ac-258469

- everyone was telling advising you NOT to remove it.

What happens if the bank's verbal approval does not go through for one reason or another? I've seen this happen. Many other real estate professional who have been in the business for a number of years have seen it happen...look at the examples below. Will you lose the house? To rub salt in your wounds, will you also lose your earnest money deposit on top of losing the house & all the costs associated with buying the home?

Has your loan originator volunteered to talk to the seller's listing agent for you?

Good luck,
Ros

Roswell Moore, CMPS
Certified Mortgage Planner
480-422-5095 direct
www.ezAZloan.com

We are a Direct Lender, Mortgage Bank where we originate, process, underwrite and fund FHA, 203k, VA, USDA, Jumbo, Conventional, loans to Canadians & other Foreign Nationals, on time.
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0 votes 11 answers Share Flag
Wed Oct 6, 2010
Daniel Berman answered:
Jessica, a major reason for the discrepancy between estimates typically relates to whether the company doing the inspection is an impartial inspection-only company or has a vested interest in terms of doing whatever work is called for.

You will naturally tend to get the most impartial (accurate) inspection from a company that does not have a vested interest in the work that is called for. The "wolf in sheep's clothing" here is a contractor in the guise of an inspector, in other words, an "inspector" whose main objective is to perform corrective work called for by inspection reports.

In any event, the agent representing you in the transaction should be able to give you guidance with regard to the situation you are now facing. If you are unrepresented, this offers a good reason to obtain representation for yourself. If you are represented and your agent doesn't seem to be offering you the guidance you need, you might gently inquire as to whether the agent's broker could help out. Even an inexperienced agent will usually be able to consult with an experienced broker, under whom the agent is employed.

Sincerely,
Dan

Daniel Berman
Pacific Century Realty
List for as Low as 1%
Buyer Rebates up to 50%
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0 votes 6 answers Share Flag
Wed Jun 23, 2010
Senka Maricic Foster answered:
Do you mean 60,000 to 70,000 or 600,000 to 700,000?

I am pretty positive there is nothing in 60-70,000 range, but in 600-700,000 you might find an older fixer upper. I am selling new condos at prime location in Millbrae, we have 142 brand new condos at one of the best locations downtown Millbrae. Let me know if this is something of your interest. We are located on 151 El Camino, sales office is on a corner of Chadbourne and Broadway.

Kind Regards,

Senka
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0 votes 6 answers Share Flag
Tue Apr 13, 2010
Lfgeorge answered:
CIndy,

Prices have recently become available for our condos at 151 El Camino Real in Millbrae. Please give us a call at 415 828-9300 for more information. We also have floor plans available at www.LFGeorgeProperties.com You can also send us an email directly through the website. ... more
0 votes 3 answers Share Flag
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