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92313 : Real Estate Advice

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  • Home Buying4
  • Home Selling0
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Activity 5
Fri Apr 17, 2015
answered:
Hello Mendy, yes the rental inventory is quite low in Grand Terrace and start from $895 for 2bd 1ba apartment and up. I would look into purchasing as well. The purchase in 92313 zip code of Grand Terrace start from 225k for 2bd 2ba condo which is as low as $1,125 down payment with a minimum 580 fico score $225k. The single family homes start from 279k for 4bd 2ba home in 92313 zip code of Grand Terrace which is from as low as $1,400 down payment with a minimum 580 fico score @279k.

Beware of the many rental scams out there these days on all sites. The scams are on all of the rental listing sites except one that us agents/broker use such as mls, multiple listing service.

You should not give anyone any funds or personal information without confirming with a licensed agent/broker or management company to find out whom you should be dealing with and the status of any address of interest.

You should study RENT vs BUY options as you may qualify to buy with minimum out of pocket expenses and pay less than rent in many cities. Your fico scores can be raised within 3-4 days in most cases to qualify for programs, rates and terms as necessary.

If you figure out what cities/zip codes you are considering, minimum number of bedrooms and the maximum payment/price you are looking to achieve you can be emailed listings to fit your search criteria. Your email address is needed to set you up for the automatic daily updates.

You will need to be pre-approved if you decide to buy to be able to meet an agent to view and submit offers on any homes of your choice. Your qualifications will be determined by your credit profile, debt to income ratios, fico scores, home price, loan program and how much you want to invest into the down payment and closing costs.

You may qualify to buy FHA with fico scores between 500-579 with 10% down or minimum 580 fico score may qualify FHA 3.5% down or as low as .5% half percent down payment program. You may consider 3% down conventional from a minimum 620 fico score.

It only takes a few dozen questions to qualify, go over your options and email you listings to study and compare. Here are some links to study as well as web reference links to many loan program pages offered...

Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
Veteran & VA/CalVet Loan Specialist
REO & Short Sale Specialist
Credit Repair At No Cost
ALL Loan Programs Available
22+ Years Experience
BRE# 01140252
NMLS# 297251
760-486-4225
9am till 5pm by phone Monday thru Saturday, Sundays by appt., EMAIL ANYTIME 24/7
Under640FicoScoreLoans@gmail.com or HomeLoans4U@live.com
http://youtu.be/MrygA2_8fAY
http://www.trulia.com/profile/SherylArndt

If my response was helpful, consider clicking Thank, Link or Best Answer.
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Sun Apr 27, 2014
Ruth and Perry Mistry answered:
Hi Sal

Let us know how things went since 2008.

We did come up with the mortgage forgiveness and debt relief act.

Did that work for you ?

Perry
0 votes 3 answers Share Flag
Sun Apr 27, 2014
Ruth and Perry Mistry answered:
Hi Brandon thanks for your question.

A mortgage or a loan is the same, whether for a Mobile home or a Town home or single family home.

Good luck.

Perry
0 votes 6 answers Share Flag
Fri Jul 26, 2013
Priscilla Walsh answered:
Hello Teresa! Have you found that perfect home yet? Getting pre-qualified may sound difficult but it is very easy. My company and I can take care of all your concerns and needs. WE can prequalify you then work with you to find that perfect home for you! I'd love to answer any and all questions you may have. Please feel free to call me anytime.
Priscilla Walsh
Coldwell Banker Kivett-Teeters
909-894-9221
www.pwalshrealestate.com
realtorpwalsh@coldwellbanker.com
BRE Lic.#01936003
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0 votes 5 answers Share Flag
Thu Sep 18, 2008
Diane Wheatley answered:
Under Proposition 13, a measure passed in 1978 that limits property tax increases, the sale price of a home is generally used to set the home’s base value and subsequent property tax assessment. Proposition 13 also ensures that annual assessments will not increase more than 2 percent each year.

The tax rate in California is calculated annually based on the assessed value of the land and improvements. Upon transfer of ownership, the assessed value will be reset to the sale price which can result in a substantial change in the taxes assessed.

Prop. 13 limits the general property tax to one percent (1%) of the assessed value, plus an amount for the debt service on any bonds approved by popular vote also referred to as mello-roos, 1915 Bonds and/or special assessments. Your adjusted base year value is property's base year value adjusted by an annual inflation factor, not to exceed two percent (2%) per year.

KEEP THIS IN MIND

• In most cases, property taxes are assessed based on the sale price, and most often, the sale price is consistent with other comparable homes in the area. However, consumers need to be aware that purchasing homes at deeply discounted prices, especially those that are heavily damaged, does not necessarily mean that the property tax assessment will be based on the sale price. In those instances, property taxes often will be assessed based on the value that the appraiser determines to be the full-cash value. If a buyer has to invest a significant amount of money into the property to make it livable, the amount invested often is added to the sales price to establish an accurate property tax assessment.

• A separate measure, known as Proposition 8, allows a homeowner to request a temporary property tax reassessment, which can result in lower property taxes. This proposition is most-often employed by buyers whose home values have declined in the current market.

However, Prop. 8 require that homeowners whose properties are reassessed must have the home reappraised each January, to determine the current home value and that year’s property taxes. Because the reduction is temporary, it only stays in effect until the property tax assessment is equal to the assessment the homeowner would receive under Prop. 13. Also, Prop. 8 does not limit the annual increase to 2 percent, which can result in the homeowner paying the same amount of property taxes in the long run, as if they had not received the reduction.

Your tax rate will vary depending upon where the property is located. Please check with the county to verify the amount of property taxes you will be responsible for.

It concerns me that you were not made aware of your property tax liability prior to the close of escrow on your property. It is the seller's responsibility to disclose to you any mello roos and 1915 Act Bond Assessments and Supplemental Taxes as required by California Civil Code Sections 1102.6b and 1102.6b. You should have received and signed a California Property Tax Disclosure Report during your escrow timeframe.

Hope I helped even though this should have been made known to you prior to you taking ownership. Good luck!

Diane Wheatley, Broker
(909) 981-5589
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