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Home Buying in 90277 : Real Estate Advice

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  • Local Info5
  • Home Buying5
  • Home Selling4
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Activity 5
Tue May 13, 2014
Jonathan Szabo answered:
Submit a contact form to HOA Member Services - www.hoamemberservices.com and they may be able to help answer your questions. Good luck.
0 votes 5 answers Share Flag
Sun Feb 9, 2014
Shel-lee Davis answered:
Kyle:

You might want to be more specific when you use the term South Bay. Both the San Francisco Bay area and San Diego have a South Bay. As you can see from your first two responses, they came from Northern California. When I use the term South Bay, I always specify the Los Angeles South Bay, this prevents any confusion.

And yes, cap rates have once again slid below 5. Seems we saw this before the last crash. I wonder what we should take from this new development.
... more
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Thu Jan 30, 2014
Ellis Posner answered:
it will largely be a function of where in Redondo Beach you want to build and the level and quality of finish work. you also have to consider what is on the land currently and the cost of removal of that structure. if you are building on a hill or let's say Hollywood Riviera, most likely more expensive than a flat lot in north redondo beach. best to think like a builder who may try to buy a lot for 25-30% of what the finished project will sell for and work backwards from there. while those numbers may not pencil out exactly because you won't have the expense of immediately reselling the house (I assume you want to live there) you don't want to over spend along the way. assume $250-300 sq ft all in (not counting the land) although there are certainly builders who will quote you higher or lower. ... more
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Mon Sep 9, 2013
Tony Warfield answered:
I agree with comments below, that you need to start the eviction process because it will be much easier to sell and that new owner won't want that tenant anyway since he has not been paying. But what I have seen in cases where the bank, for whatever reason, has not foreclosed, is that they will sell off this loan and the new bank will quickly send you an NOD Notice of Default and start foreclosure proceedings. Forget the loan mod (very few ever work out).

I know this is an older post, but if you have not already, I suggest you get an agent to start working on the short sale yesterday. Also the mortgage debt relief provisions for homeowners in the federal tax code, first enacted in 2007, expired at midnight on December 31, 2012. But the fiscal cliff bill enacted at the 13th hour by the Congress extended the relief through the end of 2013. There is no indication that this will get extended again, which means that all principal balances unpaid by the homeowner and forgiven by the lender would will be treated as ordinary income to the homeowner.

Tony Warfield
Associate Broker
3 Leaf Realty
Manhattan Beach
(310) 634-9342
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Tue Aug 17, 2010
Sheyenne Schultz answered:
I have a lender who is the ceo of the direct lending company who does these loans for situations just like this. She can help you. Call me at 310-429-4170 or email me at shy@shysells.com
We have helped several people in this predicament.
There are several options, all of which can be explained to you and you can choose
which one best suits your needs.
Sheyenne Schultz
Real Estate Network Group
2601 Airport Drive #120
Torrance, Ca 90505
310-429-4170
shy@shysells.com
www.shysells.com
Short sale blog:
www.torranceshortsales.info
... more
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