This is what keeps a quality neighborhood desirable. If buyers with lower incomes wanted to buy in this neighborhood, the value of neighboring homes would be reduced and residents would have paid more for their homes than it's worth. If you want to live in this area, buy a condo which is cheaper. Residents in the New York City area do this everyday.... more
In the strictest sense of the law, absolutely not. All offers are to be presented fairly and it is up to the seller to decide. If there are agents were it would tip the scales do you really want to work with that agent? They are doing something unethical and most likely in violation of the law.... more
The answer is simply how long do you think you will own that property?
If you know that you will be moving on after 7-8 years, then the 7 year fixed is relatively risk free.
If you feel you may be in a position to keep this home as a rental, it would make more sense to keep the 30 year fixed.
If you have any idea that you may be taking the equity out of this home, the 7/1 ARM is better for you.
It isn't always interest rate, but what your future plans are for the home.... more
You did not mention if a real estate firm listed the property. If so, brokerages do business with other brokerages. If you found a property that is owned by For Sale By Owner; many FSBOs like the idea of using a buyer’s agent, that way they have the protection of using real estate firms, agents and brokerages.
Caution; if you found a home owned by a senior citizen and you buy it at a low price, you could be accused of Financial Elder Abuse. In any case, you should sit down with a real estate attorney to learn why buyers against the seller file 80-90% of the claims in California; it might give you insight an industry filled with pratfalls.... more
One needs to be weary. Here is why, lets say down the road you need to do an addition or
do Permit related work, and should the Permit Inspector enter your home and notice
a much bigger house than on County records then you are looking at a Red Flag
Also Insurance is unlikely to cover you for the un permitted part of the house.
If a neighbor reports you, then you will likely be in a world of hurt.
You will get away with the remodel, but not the "addition of square footage".
To give you the best help, I need to understand your goals and what's most important to you in this home purchase. Are you buying it to live in? To fix up and flip (re-sell)? As an investment to rent out?
The market is challenging, however there are always opportunities.
When you'd like a free, in-person, no-obligation consultation, Just Call 408-252-8900. You will have a better, deeper understanding of yourself and the market, even if we don't choose to work together.... more
Have you considered what you will do when it comes to financing for you new home? Before you start looking for homes I strongly recommend you get pre-approved. This is important because it gives you an idea of the price range you can afford. Also, offers from individuals with pre-approvals are taken much more seriously. I am a lender based out of California and I have done plenty of loan throughout the state. I would be glad to speak with you to help you get the loan you need so feel free to contact me. Good Luck! Brian Nguyen Sr. Mortgage Banker NMLS # 659743 Phone: 949.667.2887 firstname.lastname@example.org... more
After more than a decade of monitoring the performance of various neighborhoods in Silicon Vally, I've noticed that, as prices rise, the prices in the high API neighborhoods rise more than the prices in the lower API neighborhoods. I've watched as a $100,000 delta became $150,000, then $200,000, etc.... more
The truth is that itâ€™s very difficult to compete in our Silicon Valley highly competitive market with so many well qualified buyers and limited inventory.
Saying that, itâ€™s doing the obvious, be well prepared, with your documents and mortgage, read and sign all disclosures, have a good understanding what the seller is looking for, if you have doubts and questions, get them resolved before making the offer.
Make your best offer the first time, you may not get a second chance.... more
I have a couple close friends in Fremont and I lived in Sunnyvale for 9 years, so I think I can offer a thought.
Sunnyvale is expensive because of the accessibility to great deal of companies in the valley. Sunnyvale schools are recognized as great schools (although I have no experience with schools). At the same time, properties are older than Fremont, lots smaller and typical view is city view.
Conversely, Fremont is considered to be hard to commute (both 880 and 680 are terrible during commute times, as is Dumbarton), during peak hours. Mission San jose School District is considered to be one of the best, and you can get better/bigger house for your money than in Sunnyvale. Demographic is quite family oriented. Best feature of many houses in Mission is the phenomenal bay view or Mission hills view -- a similar location on the peninsula or south bay will cost you much much more.
Overall, if you want a nicer/bigger house with possibility of a view and great schools to fall back on, then choose Fremont. In South Bay, a house in the hills will cost you a lot more.... more
As the other realtors pointed out for a SFR there is no lot fee, for a mobile home there is space rent and for a condo/townhome there are HOA fees. If you are searching for mobile homes or condo/townhomes then get with one of us realtors who answered your questions and we can provide you with the space rent and HOA fees if they are not shown on your property search.
Feel free to contact me if you need assistance.
At your service,
DRE# 01397256... more
These tax credits are limited to the lesser of 5 percent of the purchase price or $10,000 for a qualified principal residence. Taxpayers must apply the total tax credit in equal amounts over 3 successive tax years (maximum of $3,333 per year) beginning with the tax year in which the home is purchased. The tax credits cannot reduce regular tax below tentative minimum tax (TMT). The tax credits are nonrefundable, and unused credits cannot be carried over.
This information comes directly from the California Franchise Tax Board website. You can read all the details online using the link below.
Diane Wheatley, Broker
Hi Dhiraj, The Court Lot usually means the larger end lot. There are cases where the home is just simply 'in a court' or Cul De Sac and those homes only benefit from the reduced traffic. This is a great feature for families with children who enjoy playing outside.
In the heel of a court lot, where the court ends, the frontage of the property is usually substantially reduced due to the Pie shape. However, this does allow for a larger rear yard depending on the placement of the home.
In some cases the larger back yard can be rendered useless if the home is placed too deep in the lot leaving you only large side yards. This does not lend itself to very much usable space for entertaining.
Something else to consider is the serious street parking issues that can occur in a court lot home (cul de sac located home) if the frontage area is reduced. Ordinary homes have enough space for 1 to 2 cars to park on the street directly in front of the home.
If a neighbor parks a large recreational vehicle or trailer the parking issue can become more serious.
When a home is located at the end of the Court all cars point directly at it as well. At night, the headlights can be annoying for some.
As you can see there are so many things to consider when you are choosing a home. Be sure your Realtor spends the time to share all of the different things to consider from roof to foundation to neighborhood to help you make the best choice.