Trulia Community - Advice from neighbors and local experts

Find Your Community
We couldn't find that location. Please try again.
Get Expert Advice

Home Buying in 92054 : Real Estate Advice

  • All17
  • Local Info0
  • Home Buying7
  • Home Selling2
  • Market Conditions0

Activity 4
Tue Mar 18, 2014
Rebecca Kallhoff Team answered:
Good Morning!

I work with a GREAT team that expands across the country and I would be more than happy to set you up with a reliable agent who will go above and beyond to meet your needs. Please contact me today, so I can get you started on your home buying journey!

www.rebeccasellsaz.com
rebeccakallhoff@gmail.com
4802759566

I look forward to hearing from you soon!
... more
0 votes 4 answers Share Flag
Fri Aug 12, 2011
John Arendsen answered:
Simple solution? If you like the home. Buy it. cut the roots and branches back within your property line. End of problem. Very simple. Or you can make a lot bigger deal of it than you need to. ... more
0 votes 5 answers Share Flag
Tue Sep 14, 2010
Homertsimpson answered:
Hello David, I've worked with Commercial property for many years and based on my experience I've yet to find a GRM Chart for any zip code or area probably because it's a moving target based on market conditions and property type.

The basic formula to calculate a properties GRM is, the current market value divided by the annual gross income = GRM

Example: current market value = $900,000 and the annual gross income = $120,000, then you're GRM for that property would be, 7.5%. So in reverse, if you knew the GRM = 7.5% multiplied by annual gross income of $120,000 you get the value of $900.000

If you're new to the commercial side then you may or may not have heard of CAP Rates. Capitalization Rates are also used when placing a value to real estate and are usually more accurate then the GRM but both are still a moving target and can vary greatly in accuracy.

The only sure way to value commercial property is to have an experienced underwriter actually underwrite the subject property plugging in real and true numbers for comparison. I've underwritten hundreds of commercial property here in San Diego, and various other cities and counties throughout the US. After underwriting so many properties I can tell you that it really doesn't matter what the property is selling for or what anyone believes it's worth; what's important is what an appraiser believes it's worth after doing a complete analysis with Real Numbers and Historical Factual Figures based on the properties past performance. That's exactly the type of analysis I do when underwriting potential properties to purchase for all my clients, which then gives them the best possible projection as to what the true value really is for the property they’re thinking of purchasing.

So, if you really want to purchase commercial property, and would like assistance from someone who's actually underwritten hundreds of commercial property here in San Diego, you can email me at travel@cox.net and let me know you'd like further assistance.

I hope this information has been helpful.
... more
1 vote 2 answers Share Flag
Fri Jun 13, 2008
Tony Cannon answered:
Hi Gracie,

As I list bank owned homes, and have worked with buyers on buying them too, I can say that most of the banks behave in similar fashion with respect to your question.

The standard CAR puchase contract has a default 3 day time to respond to an offer. This number can be changed to something else. It sounds like you have specifed a 30 day closing, but I am assuming the time to respond to the offer is still at the default 3 days. So at 5pm on the third day after you wrote the offer, the offer has offiicially expired.

In practise, this date often slips, and banks will usually do their counter offer "verbally" anyways. So negotiations are happening, but the contractual dates have long sinced passed. After "verbal" acceptance, it may take a week before the bank will sign your purchase contract and you can officially open escrow and get the clock ticking on any contractual time periods. As a listing agent or a buyer's agent, I am not happy with the process, but I guess we have to learn to live with it. In a court of law, I'm sure a buyer could challenge many of the policies and procedures banks are using in both REOs and short sales.
... more
0 votes 3 answers Share Flag
Search Advice
Search

Followers

466