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Home Buying in 92563 : Real Estate Advice

  • All45
  • Local Info3
  • Home Buying24
  • Home Selling3
  • Market Conditions1

Activity 20
Thu Feb 19, 2015
Kevin and Julie McLaughlin answered:
The answer might be none... Contact a mortgage professional to check. Good luck!
0 votes 1 answer Share Flag
Thu May 22, 2014
Craig Bosse answered:
You don't have to wait.....

We have a portfolio "2nd Chance" loan that allows you to buy again just one day after Short-Sale or Foreclosure. You can only have one on your credit and you will need a 20% down-payment and 660 mid FICO score.

This loan is available in - AZ, CA, CO, DC, FL, HI, IL, MD, MT, NV, NJ, NY, NC, OR, SC, VA, and WA . Loan amounts up to $4 million +
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0 votes 13 answers Share Flag
Sat Feb 22, 2014
Kevin and Julie McLaughlin answered:
There are no age-restricted condos in Murrieta currently. The Colony is a great 55+, gated community with lots of amenities. Email me and I will send you MLS updates with available homes.

Kevin McLaughlin, Broker Owner
Berkshire West Realty
info@BWestRealty.com
951-375-0367
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0 votes 9 answers Share Flag
Mon Jan 27, 2014
Tom Bashe answered:
I do not think any lender will loan with a 51% renter ratio, has to be UNDER 50%. Best of luck, Tom Bashe. 951.491.5052
0 votes 6 answers Share Flag
Wed Dec 4, 2013
John Arendsen answered:
Satasfied and repeat clients. I always ask for some RECENT references.
1 vote 5 answers Share Flag
Tue Oct 29, 2013
Katey Kessler answered:
The market has slowed down a lot since Mid august. I have seen a bunch on inventory reduce their prices which causes me to think sellers are more desperate to sell. Keep offering a fair market price and you will get something! Please let me know if you need any further help. Take care ... more
0 votes 6 answers Share Flag
Wed May 29, 2013
Lon Mapes answered:
I agree with all the others stating that you'll need to wait 2 years after the foreclosure.
0 votes 7 answers Share Flag
Wed May 29, 2013
Lon Mapes answered:
I agree with John. Get a copy of the community's CC&R's. Have your attorney look at it if you aren't clear on the language. That will give you the answers you need.
1 vote 3 answers Share Flag
Tue Jul 3, 2012
Kevin and Julie McLaughlin answered:
Since your post is over 2 years old, I trust you were able to find a great home in our area. I wish you the best!

VA buyers are having great success in the Murrieta - Temecula area; We've closed 2 in the past 2 weeks! ... more
0 votes 10 answers Share Flag
Tue Jul 3, 2012
Kevin and Julie McLaughlin answered:
I'm glad to hear that everything worked out, and congratulations on your purchase! It is a great time to buy - Hope you have many happy years in your home!

Kevin McLaughlin, Broker Owner
Berkshire West Realty
info@BWestRealty.com
... more
0 votes 25 answers Share Flag
Thu May 5, 2011
Brad Yzermans answered:
I know this is an question, but people are still asking these same questions and still unclear about all their options. Their is a 3% grant program that never has to be repaid that works with FHA, VA, and USDA loans.

There are several FTHB programs and many changes have been made to many of the programs.....as well as a down payment assistance for 2nd time buyers.

Robert's answer has some validity....just because some of these programs are available doesn't mean you really want them....there are many factors to consider.

Head on over to http://homeloanartist.com for more info or call if anyone has questions.
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0 votes 5 answers Share Flag
Wed Apr 27, 2011
Veronica Lawrence answered:
Shortsales in my opinion you can get a great home, when it comes to the pricing though it just depends on how the listing agent listed the price for sale. Some listing agents list low to attract more buyers, some list at market. Use an agent and go with the comparables ... more
0 votes 15 answers Share Flag
Tue Dec 14, 2010
Jesse Madison answered:
Yes you do need 3.5% down to qualify for NSP program 2nd loans.
I do have a list of lenders that could advise you on whether or not you qualify. Please feel free to contact me.
jesse@jessemadison.com ... more
0 votes 3 answers Share Flag
Tue Dec 29, 2009
Corinne Martinez answered:
Dear Home Buyer
Has your home buying progressed any? I just read your question and felt your pain. If it makes you feel any better I sold new homes for many years and your story is common. One thing I can tell you is having never worked for DR Horton they do build a nice home, it’s not a custom home but a nice home. With the ever changing market it seems that the timeline is constantly changing on the entire process. Appraisals take longer, loans take longer, in house lenders (if that what you used take longer). The DR Horton Homes in Murrieta are worth waiting for as long as the appraisal comes in at the purchase price. I would ask my DR Horton in-house agent to make you a timeline, this way you can hold them accountable for that timeline and when things change the agent can explain why. I wish you a very happy future in your new home, if you have any questions please email me back and I would be glad to break it all down for you.

Sincerely Corinne Martinez
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0 votes 4 answers Share Flag
Tue Apr 14, 2009
Robin Zapata answered:
Call me anytime, my number is 951-514-0147

Robin Zapata
Realty Executives
0 votes 21 answers Share Flag
Mon Apr 6, 2009
Crestico Realty answered:
Is It A Good Time To Buy A Home? The simple answer is YES! It is still a good time to buy a home. With the help of the right agent, you can make this "good time" into a "great time" for you and your family. The news is full of stories about the housing crisis, homeowners losing their homes, and the overall bad state of the economy. Not all of this news, however, has to translate into dissuading you from buying a home. In fact, right now is a very good time, especially for some, to jump in and achieve the American dream of home ownership. As of late, the housing market is starting to look better. Read on for more information about why it is still a good time to buy a home.

First, the government is looking to help you. If you are a first time buyer (which, to the government, is defined as anyone who has not owned a home in the last three years), you are entitled to a maximum $8,000 tax credit. Additionally, interest rates are at all-time lows and the Federal government is taking steps to insure and make these loans available to more and more people.

Leverage. Leverage is defined basically as borrowing money to supplement existing funds for
investment. Imagine if you invested ten thousand dollars in stocks and those stocks earned ten percent, you would have earned one thousand dollars. But investing ten thousand dollars on a home, and having that home's value increase ten percent; effectively, you would have earned ten thousand dollars. Which sounds like a better investment to you?

Next, you have to live somewhere. And so does everyone else. According to nationwide statistics, approximately 800,000 new households are created each year in the United States alone. Each of these households will need housing, regardless of the state of the economy. This fact alone ENSURES the recovery of the housing market.

Cycles. The economy is a cycle, and like a cycle, what goes down must come back up. Once this happens, it will create INSTANT equity for you. That means you will have earned FREE money just by living in your home, which you are going to do regardless of where you live. Why not buy a home and earn free money in the process?

Mortgages. Many people think a mortgage is just like paying rent, right? WRONG! With the right fixed-rate mortgage, you are basically ensuring the same payment for thirty years. If you try to rent an apartment for thirty years, odds are that every year or so, your rent will be increased. That does not happen with mortgages.

Ownership. Owning a home is a GREAT accomplishment and it allows you to express yourself in the best way possible. You can decorate it any way you want, furnish it, paint it, and improve it and all the while you will be increasing its value and the value of your investment. Ownership also gives you and your family a sense of stability and a place to lay your roots.

These are only a FEW of the reasons why right now is a good time to buy a home. A qualified agent will be able to answer any questions you may have and also give you more reasons to consider investing in your next home!
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0 votes 18 answers Share Flag
Sat Mar 28, 2009
Dianne Hicks answered:
I did read his question and answered previously and if you read everything you would have seen that! I think it is for him to decide, not you.... what is irrelavent and there is no need to be ugly!!! He may not have known about the 10,000 credit. I appreciate your response to me and appreciate your blog, however I am aware of the laws. I am happy to see your blog clarify it for everyone who is unaware. I had responed about the $10,000 in response to a previous answer, not the question. I had just wanted to clarify the although the $8000 credit may not be available the $10,000 credit is available under different circumstances. Perhaps I did not have enough coffee before writing response to make that clear.

Kindest Regards,
Dianne
... more
0 votes 9 answers Share Flag
Tue Feb 10, 2009
Robert MacLean answered:
Thank-you very much Amy for the link. There are no details of the program so I called the 800# and you leave your name, phone #, and address to have the information mailed to you. I left my info and when the packet comes in I will post the new rules. From the description change it looks like they may have eliminated the closing costs portion and restricted where you can purchase.

First-Time Home Buyer (FTHB) Program – (Temporarily Closed – see RHP) Downpayment and Closing Cost Assistance for qualified families to purchase a new home.

Redevelopment Homeownership Program (RHP) – Downpayment assistance for first-time homebuyers of low to moderate income to purchase a home within the unincorporated areas of the County of Riverside and County Redevelopment Areas. For more information contact 1-(800) 909-0079.
... more
0 votes 12 answers Share Flag
Mon Oct 20, 2008
Sherry Kotvis answered:
I'm located just 1 offramp north of Murrieta in a quaint city called Menifee. I lived in Murrieta several years until I moved to Menifee. If you are looking for a home, prices start in the mid 100s (some great investment and first time buyer opportunities) to about $350K-400K. You can find a beautiful newer home with 4+ bedrooms and 2+ baths in a nice area for around $250K. We have an abundance of both Bank Owned homes and short sales. If you are interested in exploring the growing community of Menifee, please give me a call. I can certainly help with this area or Murrieta. ... more
0 votes 10 answers Share Flag
Tue Aug 19, 2008
Daniel Jeung answered:
Yes, perhaps the financial market situation has made getting a loan more difficult for you in particular, but as with everything in life, it all depends on your perspective. While I don't necessarily agree with Jonathan below in that you are being "rewarded" (and I'm sure it was possibly stated "tongue in cheek"), he does have a good point. Several years ago, many other borrowers (probably in a similar financial situation as yourself) felt that they were well qualified, had sufficient credit scores, down payment, etc..., and became the happy recipients of an adjustable rate mortgage on a home they stretched for. Fast forward a couple of years to 2008, and Voila', look what happened.

Now, the lending institutions are returning to their conservative states and as a result, fewer borrowers can qualify (or as some would say, be put in jeopardy because they bit off more than they could chew). We as a nation, have become so infatuated with the lifestyles of the rich and famous, that we stretch way beyond our means. By this, I mean that we want the best of things right now instead of biding our time. Both of my parents had 6 siblings and grew up in small apartments, often doubling and tripling up in bedrooms. Nowadays, some families feel they need one bedroom AND bath for each person in the household.

Again, Jonathan makes a good point about inventory levels and interest rates. While I don't know your particular needs in a home, I would suggest reviewing your criteria and perhaps scaling back to a home size and price range that fits within the lender's criteria. It may not be the ideal home, or the home of your dreams, but what you will discover over time, is that no home ever is.

Best of luck!

-Daniel
... more
1 vote 7 answers Share Flag
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