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90731 : Real Estate Advice

  • All11
  • Local Info1
  • Home Buying1
  • Home Selling1
  • Market Conditions0

Activity 6
Thu Aug 20, 2015
Alex Montelongo Real Estate Group answered:
Unfortunately there are scam artists posting fraudulent ads on Trulia and other Real Estate websites as well. The best we can do is report them to the Webpages Customer Service or Fraud depts and they should remove them. The police depts will not file a report on it unless there has been a loss of money, property or a crime has been committed. Just be safe. If you are looking for a rental or to purchase, please use a Realtor.

All the best,

Alex Montelongo/Broker
Coldwell Banker Star Realty
562-810-7387 Cell
BRE Lic#01456982
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Wed Apr 1, 2015
Cheryl Pellettieri answered:
Yes, it does happen often. My advice if you do receive an email asking you to send money for a property to rent or buy in exchange for the keys that you never requested DON'T! It's likely to be fraudulent. ... more
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Thu Mar 5, 2015
Lisa Fong answered:
Here is a great site to find out about a neighborhood:

Best Regards,

Lisa Fong
Tel. (626) 731-9563
0 votes 12 answers Share Flag
Thu Jan 16, 2014
Danielle Whitney answered:
If you are looking for a 2 bedroom Mediterranean style condo for $1,650 per month in a great North San Pedro location call me immediately before some other smart tenant beats you to this deal.

Yours to count on,

Robert Whitney - (310) 503-4988.
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Wed May 26, 2010
Andrea Kowalski answered:
Hi Erick,
The process of purchasing property in foreclosure is essentially the same as any purchase except, depending upon what stage of "foreclosure" the property is in, you as the buyer must be exceptionally flexible in your expectations. The fact is, properties that are in distress will be sold subject to the lender/s approval of the sale and in most cases, the property will be sold without repairs or other material considerations for the buyer. In some cases, such as an auction, the buyer may actually buy him or herself a new bunch of problems such as undisclosed liens on the property or material problems with the property that may push the limits of what's commonly referred to as "deferred maintenance".

That said, not all "distressed" properties are in bad shape and a qualified, prepared and patient buyer with a savvy agent who is experienced in these matters can successfully and happily purchase a "distressed" home. There is often more than one issue with various "foreclosure" properties, but here are the main ideas in different scenarios:

Short-Sale: house needs be sold for less than the seller owes. Seller's lender needs to agree to accept reduced payment on the loan.

REO: bank owns the property, they've already lost money on it and they're not likely to put anything more into it

Auction: You need cash to buy and to rehab if you want to stay there or flip it. As mentioned, this is a game for sophisticated investors.

I agree with the other comments about not limiting yourself to "foreclosures" in your search, but do find an agent to work for you in you purchase. Look for a full-time agent with experience and up-to-the-minute knowledge of distressed property sales, state and federal rules, and programs and incentives that can benefit you.

Good luck!
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Tue May 12, 2009
Michael Magaw answered:
It sounds like you are trying to reduce your property tax assessment. I know those are the dates they requested. If that is correct, then you want 3 low comps.

I live in San Pedro and know the homes in the area. You can email me your information: name, address, #bedrooms/bathrooms, square footage, other pertinent info. I can privide you with the list. You will need to advise if you want this for the county assessor or some other reason, so I know what types of comps to provide to you.

Michael Magaw
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