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93901 : Real Estate Advice

  • All10
  • Local Info0
  • Home Buying6
  • Home Selling0
  • Market Conditions0

Activity 8
Mon Sep 30, 2013
Pat & Steve Pribisko answered:
We highly suggest that you deal with potential landlords in person and view the apartment or house before you give any money to anyone for any reason. There are too many scams on line, even on legitimate web sites such as Trulia ... more
1 vote 2 answers Share Flag
Thu Dec 6, 2012
Michael Stone answered:
Aside from the search process, the first step is to get a prequalification letter from a lender and then find yourself a good real estate agent. People sometimes get confused about real estate agents. There are listing agents and buyer agents. Example: If I find a home I want, the Sellers agent will be the name on the sign. I need to find an agent to represent me, not the seller; this is the buyers agent. The seller pays all the commission, so a buyers agent costs you nothing in term of paying them if you are the buyer. So why not be represented? The buyers agent will search and find properties and present them to you; then they will guide you through the process.

How do I find a good buyers agent? Many use relocation services. A relocation service is usually a division or branch of another company that has a list of experienced and accomplished real estate agents that they will refer you to. This also does not cost the buyer and may even include rebates on the property that is bought. The only downside is that they will charge a referral fee to the agent that gets the referral which means they will be paid less.

I think it is probably best depending on circumstances to do a little research on the major real estate firms in your area and give them a call. Ask for an agent with at least 2-4 years experience and some industry designations such as GRI. On the other hand, a new agent will have much more time to spend on you.
... more
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Thu Dec 6, 2012
Susan Brownlie answered:
Hi Bill- I belong to a site called foreclosure - per that site their are 7 foreclosed/bank owned
homes in the 93901 zip code.
I believe all of the are currently on the MLS.

I think all but 1 is currently under contract.

Hope this helps...

... more
0 votes 2 answers Share Flag
Tue Jul 3, 2012
John Arendsen answered:
I had a client in a similar situation. I advised him to seek counsel which he did. Counsel advised him to quit paying rent to homeowner and attempt to pay lender direct. Lender refused to accept payments. Attorney advised client to put payments in a bank account.

Six months went by and client/renter saved 36,000 dollars. Home went into foreclosure and new owner offered a $6,000 cash for keys deal. Client/renter walked with $42,000. They now own a home. Bottom line? SEEK COUNSEL!!
... more
1 vote 3 answers Share Flag
Mon Jun 6, 2011
John Dodson answered:
Here is what I came up with I haven't worked with either program
Neighborhood Stabilization Program

Houses range in price currently from a low of $130,000 to $280,000 and may not exceed $325,000;
Affordability Restrictions apply for up to 15 years, depending upon the amount of funds invested and/or lent to the property ;
Downpayment of 2% is required as well as recurring costs at close such as insurance and property taxes.
Downpayment assistance up to $50,000 and closing costs up to $4,000 will be provided based upon need.
Homebuyers will need to use their home as their principle place of residence;
I believe the program is to help out individvuals and put them into a neighborhood that is more stable at an afforadable price.
Call to find out more information
Ph:831-424-9186 There are income limits that you need to quailfy with

The other program is for lower income limits, people with disabilities and and people who need to fix their homes. If your looking to purchase and you qualify for the Neighborhood Stabilization program it is the way to go. in my opinion.
... more
1 vote 1 answer Share Flag
Mon Jun 6, 2011
Belle answered:
yes, (as a PS. to my other post), there were MANY pages with numerous additional requirements-specific to each of the areas in CA that have RENT CONTROL statutes in place. I did not reference any of those specifics since Salinas, nor Monterey County have any. But for those areas that do- the requirements and the process is even more complicated....(w/or w/out Section 8 added to the mix). ... more
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Mon Apr 6, 2009
David Chamberlain answered:
If your score is at 513, you are not prepared to manage the finances involved with owning a home. Take some time, work on your credit and pay down you bills.
0 votes 3 answers Share Flag
Mon Jun 2, 2008
Erin Stumpf (Attardi) answered:
My experience in Sacramento is that if a bank is presented with FHA offers and conventional offers, the bank will select the offer with conventional financing even if the FHA offer is higher. I have an FHA client who offered $185,000 (with 3% toward CC) on a property offered at $154,900. There were 8 offers, and the bank selected a lower net offer that had conventional financing. I suppose every bank and offer scenario is different though. ... more
1 vote 9 answers Share Flag
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