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94546 : Real Estate Advice

  • All23
  • Local Info1
  • Home Buying10
  • Home Selling1
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Activity 18
Sat May 27, 2017
Rich Reed answered:
It would depend on the terms of your purchase agreement. If you used the CAR RPA-CA then yes, the Buyer shall give Seller, at no cost, complete Copies of all such Investigation reports obtained by Buyer.
Hope this helps!
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Thu Mar 30, 2017
Westsail43 asked:
I once had this property set as a favorite, but took it off after the owner started treating it like a Craigslist ad and it became a nuisance. The trouble is I still get multiple alerts…
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Thu Mar 9, 2017
Mark Concepcion asked:
If I have an agent profile on Zillow, do I need to make another on Trulia or will my Zillow profile feed over to Trulia?!
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Tue Jun 28, 2016
Chateauandre asked:
Hi there, I am a property manager and this past week the e-mails we are getting from all Trulia inquiries are blank inside. I have still been able to hit reply and reach people, but thought…
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Sun Feb 15, 2015
Anna M Brocco answered:
Be aware that scams do exist; be mindful that such web sites are third party sites, so the information is fed by various sources, therefore data is not really verified. If you choose not to work with an agent of your own always verify ownership before exchanging any money/personal information--make certain they are who they claim to be. Never wire any money, if it sounds too good to be true, it is. For scam related information see link.
http://www.consumer.ftc.gov/articles/0079-rental-listing-scams
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Thu Jul 24, 2014
Yanoska Diaz answered:
If there is a purpose to selling the house other than collecting/pocketing the profits then of course. If you plan to purchase similar house in the same neighborhood, evidently prices have gone up and you will just investing the equity into another property... ... more
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Thu Jul 24, 2014
Nancy Lucas answered:
When establishing a sales price the starting point is the most recent, most relevant sales figures for similar homes. What happened a few years ago doesn't have any bearing. And no one knows what will happen in the future. Also consider the home's condition, how it compares with others currently on the market. It's part science and part art. A good agent will help you reach the "Goldilocks Moment" -- figure out where the price is "just right." ... more
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Fri Jul 5, 2013
Pacita Dimacali answered:
Have you already spoken with a mortgage lender? If not, that should be your first step. There are different answers depending on your situation

What type of loan did you have on your short sale
What were extenuating circumstances and reasons for your hardship
Were you ever late on your monthly payments

Here's an article that says "FHA describes extenuating circumstances as circumstances that were beyond the control of the borrower, such as a serious illness or death of a wage earner, and the borrower has re-established good credit since the major credit event. For FHA, Divorce is not considered an extenuating circumstance. An exception may, however, be granted where a borrower’s loan was current at the time of his/her divorce, the ex-spouse received the property, and the loan was later foreclosed. Lastly, FHA does not consider the inability to sell the property due to a job transfer or relocation to another area does not qualify as an extenuating circumstance.

So in short, a prospective homeowner can buy after short sale with FHA right away (and VA) if there are NO LATE PAYMENTS and other nuanced conditions are met and after 3 years if there are late payments on the mortgage and/or installment debt. For Fannie Mae backed loans, with 10 percent down a prospective homebuyer can purchase AFTER 2 YEARS if they can document their extenuating circumstances."

Your mortgage broker can provide the guidelines regarding what it will take to qualify to buy again after a short sale

Good luck to you
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Mon May 27, 2013
John Juarez answered:
Count me as another who will tell you that the seller cannot arbitrarily cancel the contract to sell the home to you. Read and understand your contract for insight into contingency periods, including the time period for lender approval. If you do not understand that issue, talk to your agent and get an explanation. ... more
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Sun Mar 17, 2013
Charis Brown answered:
YES.

You can check out www.cfsflex.com. They specialize in purchase transactions and are one of the top 25 lenders in Maricopa County.

In 2011 I had to short sell my home and at the time I thought I would have to wait forever. My Realtor turned me on the the Flexible Credit Loan. It seemed too good to be true, but I got approved and now have a pending offer, even after my short sale less than two years ago. Big banks said it could not be done. Obviously it can. ... more
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Tue Aug 7, 2012
Jesse Crum answered:
I was born in Oakland, was a baby in San Leandro, my family came to Castro Valley when I was 4 years old. I have lived in C.V. ever since. I went through all the public schools and I am well known around town. I can say this, Castro Valley is a nice place to live and to raise family. ... more
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Sun Jul 15, 2012
Josh answered:
Gail Drive belongs to the Hayward school district. I would not pay a premium for a home that belongs to the Hayward school district. Look for anything above 580 freeway and you are assured of being in the Castro school district. ... more
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Tue Jun 19, 2012
Fl answered:
Ernesto,
There is an online auction company that regularly holds online tax lien sales.
http://www.bid4assets.com/help/index.cfm?fuseAction=TaxSale
If you have never done it before, then it's not as easy as it sounds. The things you need to know are enough for a 2-day class-- such as doing homework before you bid, going to the county court house to research on the properties you plan to bid on (often just to find out the day before the auction the homeowner has paid up on tax and the property is now taken off the list! After all that
research work!), and then you have to go through the legal process (such as quit claim) to fix the deed (lawyer's fees!)..There is no recourse if you find something wrong with the property later, and there is a redemption period for the homeowner to pay up and take the property back! I was once interested in bidding, but not any more, and have resigned this to the pro's in this area.
I have been an investor myself for 17 years, covering the whole Bay Area from Alameda County to Sonoma County. There are a lot more criteria in shopping for investment than for your own home, due to the business aspect, financing aspect and landlordding aspect. I am a RE sales agent with all that investors' experience and I cover the whole Bay Area.
Fran Lai, Century 21 Mission-Bishop
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Wed Mar 14, 2012
Ron Thomas answered:
Appraisal
How an Appraisal is made:
Visualize a series of COLUMNS, probably 4 or 5;
The First Column is the SUBJECT HOUSE and the others are COMP's.
Down the page we list FEATURES or FACTORS; such as # Bedrooms, # Baths, House Sqft, Lot Sqft, Fireplace, Pool, Roof, Garage, Fencing. Got it?
Now, in each box created, there will be a VALUE: Lets say the subject house is 915 sqft it would get --- or 0. And the first Comp house has 2500 sqft, it might get -100,000; which means that the house is WORTH $100,000 more because of the square-footage. (It is a negative number because the Selling price of that Comp house was approximately $100,000 more BECAUSE of the square footage and we have to deduct that $100,000 to bring them to equity.) Got it?

Now, lets say that the Subject house has $5,000 worth of new fencing and the Comp house has 25 year old OK fencing.: Then the SUBJECT house would get +5,000 and the Comp. house would get --- or 0.

When you go down the page, and enter everything, you get total Comparative Values on the two houses, which allows for the DIFFERENCES.

The two houses DO NOT have to be literally COMPARABLE, they MAKE then comparable with the VALUES.

So the house next door is larger, so what? They made up for that with the values.

Now, if you understand what I just did, then you will understand why;
1.) Two Appraisals can come so close together, and,
2.) Why the Bank will not listen to you about the results.

and in fact I will give you a third;

3.) If you hire your own Appraiser, he will end up with about the same numbers!

Also, please do not compare/equate the ASSESSMENT with the APPRAISAL: The ASSESSMENT is based on the LAST SELLING PRICE OF THE PROPERTY which might be last year. five years ago, or thirty years ago.

I hope I've helped.

Good luck and may God bless
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Fri Jul 16, 2010
The Medford Team answered:
Mimi:

Everyone loves the benefits of good schools and Castro Valley is certainly an oasis of good schools in the middle of other school districts that are not ranked as high. It’s been one of the reasons Castro Valley homes have held their value above neighboring communities. Given a choice of where to live, many choose Castro Valley for the schools. Others, wanting to live there for the same reason, unfortunately can’t afford the higher prices generated by, in no small part, to the quality of the schools.

Although ‘everyone’ wants to be in a great school district, not everyone wants to live right beside the school. Or across the street. Or directly behind it, for that matter.

Noise, traffic and roving kids are the three main detractors of homes close to schools.

1. Children certainly create noise. No getting around it. When they are out in the playgrounds, noise abounds. School bells go off numerous times every day. In addition, noise is created by the various sports clubs using the fields over the weekends.
2. These days, kids no longer walk to school – they are dropped off and picked up by parents, causing long lines of traffic before and after school. This can provide tremendous access problems at these times of the day.
3. Roving kids have been known to provide high levels of trash in yards and, from time to time property damage.

To specifically answer your question, I don’t believe being next to a school, enhances the value of your home. Regardless of the quality of the school. There are families who love the idea of their kids walking to school, and in those cases, your home’s location would be viewed as an asset. However, having sold a number of homes very close to schools, I’ve heard the buyers repeatedly comment on the three concerns shown above.

As has been pointed out, with proper Preparation, Promotion and Pricing (the 3 critical ‘P’s), your home will definitely sell – however, it will be the 3 Ps that sell your home, not it’s location next to a school.
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Wed Oct 8, 2008
Ms. K answered:
Well now. Isn't this interesting? I wonder about this reason why certain real estate agents have a great story to pull out every time a price for a home is negotiated. "Oh, small homes cost more per square foot than larger homes." they say. How can this be so? And why at SO MUCH MORE per sq foot than a home over -- say -- 1100 square feet.? Less lumber was used on the small home, less concrete, less windows, less doors, LESS LABOR, smaller footprint, less cabinetry, smaller EVERYTHING. Yet, there always seems to be a story to prop up the price of a home. Can someone with a STRONG construction background like myself answer this? An answer of substance WITHOUT an agenda? Ms. K ... more
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Thu Sep 18, 2008
The Medford Team answered:
Tiffany:

With a budget of $550,000, there are a large number of options open to you. The best approach would be to meet with a Realtor with extensive Fremont experience who can take you on a tour of the various neighborhoods and point out the advantages/disadvantages of each. Fremont has some wonderful neighborhoods – you have listed a few.

We’ve lived in the Fremont area for over 25 years and would love to help you if desired.

carl@carlmedford.com
... more
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