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Home Buying in 90024 : Real Estate Advice

  • All39
  • Local Info2
  • Home Buying18
  • Home Selling3
  • Market Conditions2

Activity 18
Thu May 7, 2015
Rich answered:
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0 votes 17 answers Share Flag
Tue May 5, 2015
Catherine Scott answered:
In this market, properties that are priced correctly are moving quickly. If something doesn't sell within a few months, it is either a high-risk property or overpriced.
0 votes 14 answers Share Flag
Tue May 5, 2015
Catherine Scott answered:
Did your Realtor write any contingencies into your contract? Have you opened Escrow yet? Have you already made the deposit? If you have not wired the deposit or opened Escrow, you should be able to cancel the offer. If there are loan contingencies you can get out if they are in the contract. This is a question for your Buyers Agent as each deal is different. ... more
0 votes 17 answers Share Flag
Sat Mar 21, 2015
Alex Khalilifard answered:
It seems like you did everything right and everything seems to be the correct procedure and process it should have been done.

Alex Khalilifard | Realtor - General Contractor
BRE License #: 01937591
Listing and Selling Agent
RE/MAX
Alex@TopHomesLA.com
Direct: 818.925.8088
http://www.TopHomesLA.com
... more
0 votes 3 answers Share Flag
Sat Jan 4, 2014
Dorene Slavitz answered:
Hi Ken,
It's an exciting (but expensive) area in Westwood. You need to contact one of us here...on Trulia..to help you search for the right property.
0 votes 10 answers Share Flag
Thu Oct 3, 2013
Gail Mercedes Cole answered:
Hi David,

Decide on the area of concentration. Choose several companies. Contact the Broker of company for interview. Consider what the company has to offer. What is agent's commission split, what are company's monthly fees, what type of training programs are provided, what type of branding does company provide. Consider what you have to offer and choose the company that can advance you professional goals.

Gail Mercedes Cole
EXP Realty Marina del Rey
310.853.9933
... more
0 votes 3 answers Share Flag
Fri Aug 2, 2013
Douglas Lagos answered:
Hi,

You are on the right path, but your first question should be, can I make money/have cash flow from a condo rental in 90024 buying a condo at $XXX price?

Buying cheaper than the current average price does not mean you'll have cash flow. What about property taxes, insurance, homeowner dues, and other expenses?
Will the current monthly rent cover all those costs, and leave you some cash at the end? What happens when an appliance breaks, or there's a plumbing leak?

You really need to work with a Realtor that has experience in not just buying and selling, but also on investment properties and rental units!

If you haven't found one yet, I'm experienced in all of those. I have been buying and selling, flipping and renting, for over 12 years. I can walk you through each step of the transaction and what to expect when renting, the right tenant, and more.

I'm here to help! Call me at (310) 463-8088.
... more
0 votes 9 answers Share Flag
Mon Jul 1, 2013
V Kumar answered:
There are plenty of resources online to find homes that are scheduled for foreclosure.

The MLS has information on foreclosure or short sale properties that have been "listed".

Foreclosure Radar has information on properties that have received a notice of default( Typically 90 days delinquent )and and or a notice of sale (21 days away from an auction date).

Given the current markets scenario there is a lot of competition and bidding wars for properties that have just been listed for a short sale.

The best way to bid on foreclosure properties today would be to identify the properties that you may want to buy that are in some stage of default and make contact with the homeowner directly prior to the property being listed.

I was a foreclosure consultant in Orange County for 3 years and have an indepth understanding of the foreclosure market. I would like to assist you on your future searches for foreclosure property.

Vinu Kumar

Work: 800.846.1619
Mobile: 949.887.2567
Fax: 626.628.1956
Email: emailvinukumar@gmail.com

http://www.linkedin.com/in/vinukumar1
... more
0 votes 7 answers Share Flag
Mon Jun 10, 2013
Gail Mercedes Cole answered:
First when the offer is presented there should have been the buyer's pre-approval. No offers should be considered without valid buyer pre-approval. Plus there should be verification of funds. Verification includes down payment amount, + closing funds amounts + cash reserves. With accepted offer buyer's deposit should have been placed in escrow within days. Sounds like you have no pre-approval and buyer cannot qualify for loan to purchase your home. Additionally, there is no money in escrow. You do not have a deal. There should be a written cancellation from escrow signed by both parties. You can try to force buyer to deposit deposit but why should they there is no deal they do not qualify.

I would suggest moving on and the next buyer get pre-approval before accepting offer. With pre-approvals as a Realtor I verify validity of approval. Plus you need verification of funds with offer. Additionally, buyers should have deposit in escrow within a few days from acceptance. Good Luck!


Gail Mercedes Cole
EXP Realty
310.853.9933
... more
0 votes 13 answers Share Flag
Mon Apr 8, 2013
Zack King answered:
Short sales certainly take a very long time and be extremely frustrating for you and the agent you are working with. The problem is the bank has no timeline as far as when they need to get back to you. This can extend the process quite a bit. It really depends on the bank and how quickly they respond I have heard of some closing in as few as 30 days and other taking close to a year. ... more
0 votes 14 answers Share Flag
Mon Apr 8, 2013
Zack King answered:
With an all cash offer you can have a very quick escrow. This will also make you offer stronger when presented to the buyer. Where to start now is by choosing a Realtor whom you trust will find you the best place. ... more
0 votes 12 answers Share Flag
Thu Jan 31, 2013
Dorene Slavitz answered:
Dear BB,

Hi There! Working with buyer is very time consuming and it often takes months to find the right property. IF your agent is very busy, I would think your agent wouldn't mind if you visit any open houses and just take her card along with you to let the listing agent know that you are committed (by buyer contract) to another agent .
As far as setting up appointments with the listing agent that is something your Buyer Agent should do for you. This way there is no confusion as to "who's" client you are. Just email or call your Agent with the listings you want to see. It has been my experience that :"consumer" sites are not all that accurate . . Many listings found for me by my buyers were already sold, removed from the market and/ or never listed in the first place!.

So it's best to go with a professional who has the right tools to help you.

In my business practice I work under contract with all my buyers. This way there is no confusion and no hurt feelings .
... more
0 votes 15 answers Share Flag
Sat Dec 4, 2010
Dorene Slavitz answered:
Hi Jgm,

Just let your Realtor know about this property and allow them to negotiate for you and handle all the paperwork involved in the transaction. As far as commission is concerned, your Agent will work with the seller and they will settle upon a mutually beneficial agreement. ... more
0 votes 12 answers Share Flag
Sat Dec 4, 2010
Dorene Slavitz answered:
Wow! That's a statistical Research Question. We have some companies that specialize in that type of information. I think that's your best bet for a good answer. One of the best ones is called Data Quick at
www.dqnews.com. There might be some information here as well. Generally Speaking single family homes appreciate better then other types of property.
... more
0 votes 12 answers Share Flag
Sat Feb 13, 2010
Callista Shepherd Smith answered:
You don't lose it as long as you have the financing contingency...also... if property's don't appraise-out... you should have a standard contingency in place for that. Your real estate agent should be telling you all of this and minding every step of the way to make certain that all is proceeding and if anything falls thru, failed inspections, not appraising out, financing falling thru... these are all standard "outs" for the buyer and your deposit gets returned.

Best, Callista
... more
1 vote 5 answers Share Flag
Sat May 9, 2009
BOB Khalsa answered:
Hi Stella:

If you are not a US Citizen or permanent resident, you can get a conventional loan if you have a work permit, can verify your income and can produce bank statements. If not you can still get a private money loan with a down payment of about 50% with a higher interest rate and lender fees.

Bob Khalsa
Broker
United America Realty
bobfoxbat@gmail.com
213-926-5847
... more
0 votes 1 answer Share Flag
Sat Apr 11, 2009
Jonelle Bechard answered:
Aloha Lau Lau ! Did you find an agent already? If not give me a jingle 818-605-3204!

Aloha!
0 votes 4 answers Share Flag
Mon Oct 20, 2008
Megan Paul answered:
Everything has changed, Fred, but for many people it is still the same. I am beginning to work with clients who sold their house short over 3 years ago. As you know, they can buy a new house. They have served their time, so to speak. So the question is current and relevant to many people. Especially to anyone who was involved in a short sale. If they want to buy again, and now is a great time with low rates, they have to get their financial ducks in a row. I recently helped a client who sold short 4 years ago for over 9 months; not looking at houses, but getting them prepared for preapproval. Once we got that done, they were pre-approved and within weeks put an offer in on a new home and are building the house of their dreams. Their lives changed after they lost their home. Lots of moving from rental to rental, with 4 kids. And these were people with good jobs and highly educated. They had a terrible personal loss, and in turn because their house was so upside down they lost it. These were not people who took out huge seconds to buy cars and boats and vacations. Maybe you don't get called all the time with this question, I do. You answered it again too, Fred. ... more
2 votes 11 answers Share Flag
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