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90039 : Real Estate Advice

  • All16
  • Local Info1
  • Home Buying7
  • Home Selling1
  • Market Conditions0

Activity 11
Wed Sep 28, 2016
Rich Reed answered:
Sorry, there is no way to get around the minimum documented experience requirement. CalBRE will check and count the time your real estate salesperson license was active, not the time it was "NBA." All of the broker's will have to certify, under penalty of perjury, any employment verification.
So you will probably have to wait two years after your license has shown as active under a real estate broker.
Best of luck!
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0 votes 1 answer Share Flag
Wed Apr 20, 2016
Arpad Racz answered:
Hi,

If there are any homes in the area that have been built in the last few years, you could try to find out who the builder was.

Kind regards,

Arpad
0 votes 1 answer Share Flag
Tue Dec 15, 2015
David Brundige answered:
Good question, Emina - a couple important notes from an agent with experience in this matter:

1) Your apartment is under RENT STABILIZATION if the building you live in was built before 1978 and it has a Los Angeles city address. That applies to the vast majority of apartments in Los Angeles, and in that case, you are entitled to stay in your apartment and pay the same rent (with a 3% yearly increase).

2) Sometimes when the bank owns the property, they don't bother collecting rent. That doesn't mean you don't OWE it! The new owner is entitled to collect all of the rent you haven't paid, so save your money and hope the new landlord isn't savvy.

If you or any landlords have questions about rent control, contact me at my blog below.
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0 votes 2 answers Share Flag
Sun Jul 26, 2015
Karen Peyton answered:
You don't give the size of the backyard. Since your speaking of a deck, I'll assume it's quite small. Perhaps a deck, and xeriscape the rest, knowing water is at a premium. I would NOT use wood chips opting for granite/gravel instead - but that is a personal preference issue - I hate splinters!

Best of luck!
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1 vote 1 answer Share Flag
Thu May 7, 2015
Rich answered:
If you need help to raise your credit scores fast,
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As a matter of fact with one of our most recent clients we raised his score from 552 up to 729 in 3 weeks.

Hope This Helps

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0 votes 47 answers Share Flag
Thu Aug 1, 2013
Annie Ritz answered:
Speak to a mortgage professional. Credit scores aren't the only factors - employment history, salary, savings, etc. Good luck!
0 votes 11 answers Share Flag
Mon Mar 25, 2013
Zack King answered:
I would love to please send me what area you are looking for and I will find you some great places.

Zack King
01882407
Keller Williams Estates Calabasas
(818) 825-7388
Zking1@live.com
www.PetPlanetRealty.com
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0 votes 13 answers Share Flag
Thu Mar 7, 2013
Scott Postlewaite answered:
"as is" does not exempt them from telling you issues with the home that they know about. It just means that if they accept your offer you take it "as is" with no credits but you can still do an inspection. If they lived in that home then they more than likely knew about it.

This is a very serious situation and these are certain things that a home buyer should let an experienced agent deal with so you are not fooled into purchasing something that has a lot of issues.

Give me a call or email me and I can help you out with this transaction and answer all of your questions. :)
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0 votes 6 answers Share Flag
Sun Oct 30, 2011
answered:
Hi Emjayrow,

With only 5 years left on your first mortgage, it may not "pay" you to refinance, even with a lower rate - you need to look closely at the numbers.

First, what are you currently paying monthly on your 1st mortgage? Are you comfortable with these payments?

Second, what are you paying on your HELOC? Interest only, or are you paying down the balance? Add these two numbers together & try to include a P&I payment for your HELOC.

Third, now find out what the cost will be to refinance both loans. What are your closing costs going to be, including the appraisal, the title fees & your lender costs. Be careful, you may hear things phrased as "it won't cost you a dime out of pocket" or "the only check you write is for the appraisal" when in fact, you will be using the equity you have in your home to pay the closing costs.

Third, what will your new mortgage payment be if you do decide to refinance? Will the difference in payment & closing cost be worth it to you, especially since you have such a short time left on your mortgage & most of that mortgage payment is going towards reducing your balance. It may sound counterintuitive, but depending upon how your numbers work out, you may be better off concentrating on paying off your HELOC first, then attack your first mortgage. You are vulnerable to the market if things shift & short term interest rates rise. Most HELOC's that I am familiar with can adjust monthly, however, they rarely will given the index, usually the "Prime Rate" is normally tied to the "Fed Funds" rate, & that rate does not move too often. That said, look up the "Prime Rate" history & you will see a dramatic increase in rates from the not too distant past to where you are now. Further reason for paying off your HELOC first.

You may also want to contact the bank holding your HELOC to see what is needed to convert it to a fixed rate loan. Many times they can do this at no or minimal cost to you.

I hope this helps you out with your decision. Please feel free to contact me if you have any further questions, I'd be glad to help.

All the best,
Ros

Roswell Moore, CMPS
Certified Mortgage Planner
480-422-5095 direct

We are a Direct Lender, Mortgage Bank where we originate, process, underwrite, fund, AND SERVICE our loans, in-house, FHA (starting at a 580 score), FHA Streamline loans (no minimum credit score, no appraisal required) Go Green rehab loans, HomePath, Investor Friendly (10 financed properties), VA, USDA, Jumbo, Conventional, plus, we allow Escrow hold backs!
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Fri Apr 24, 2009
Sky Minor answered:
Rod's given good answers here. No way a floorless house will pass FHA/VA's underwriting and I'd be surprised if any fannie/freddie conduit underwriter would let it slide either. I'd look for a smaller portfolio lender to do the loan. ... more
0 votes 6 answers Share Flag
Wed Jan 21, 2009
Sky Minor answered:
I applaud your chutzpah!!! Are you sure the construction lender will still pull through on this funding??

I just did a purchase loan for a gorgeous new modern in 90068. Purchase price was 1.75m for a little over 2000 sq. ft 3+3. Superior zip code for value but the views were comperable to Silverlake. I think you will be looking at a tidy profit on this one. ... more
0 votes 5 answers Share Flag
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