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Home Buying in 94587 : Real Estate Advice

  • All64
  • Local Info6
  • Home Buying33
  • Home Selling5
  • Market Conditions8

Activity 30
Sun Feb 26, 2017
Christie.marchese answered:
My husband bought a home through v a 5 years ago and we been married only two. Well we are getting a divorce. My husband want to move out of are, and let me keep the house. I'm not working and sick with lyme disease. He said he will make payments until I get disability. Can we do this ... more
0 votes 5 answers Share Flag
Thu Nov 3, 2016
Home_buyer asked:
I am looking at houses in Union city which is in a 1 mile radius of Union Sanitary District . Does this plant affect the nearby communities with foul odor. Is this a issue that I should…
0 votes 0 Answers Share Flag
Sun Jan 3, 2016
Evil-mistek answered:
We bought a house in May of 2009, We were told the takes we paid went to 2008 taxes. We did not own the home and are now being foreclosed on because they used what we thought was to a certain yr and went to the yr before. Is this right or even legal? We have to go to court for transfer of deed and I am afraid we will lose everything and be on the street with 2 small kids and a pregnant girl. ... more
0 votes 19 answers Share Flag
Sun May 31, 2015
Sheryl Arndt answered:
Hello anhthuy101, you will need to be pre-approval by getting all the required documentation and figures to run credit, DU Approval and issue a pre-approval letter to get you out shopping for a home of your choice.

If you gather one month paystubs/income documentation, two month bank statements, last two year tax returns, 1040's, 1099's, W2's and all schedules, copies of drivers license and social security cards for each applicant and a copy of a credit report to study and advise your qualifications.

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, loan program and how much you want to invest into the down payment and closing costs.

You may qualify FHA from 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 up to 417k. You may consider 3% down conventional from a minimum 620 fico score or even 5% down conventional with NO Mortgage insurance (Lender paid MI) up to 417k.

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 and you can be emailed listings to fit your search criteria. Your fico scores can be raised within 3-4 days in most cases to qualify for programs, rates and terms as necessary.

The purchase in Union City start from 289k for 1bd 1ba condo, 328k for 2bd 1ba condo and the single family homes start from 365k for 2bd 1ba home which is as low as $1,825 down payment with a minimum 580 fico score @328k.

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
9am till 5pm by phone Monday thru Saturday, Sundays by appt., EMAIL ANYTIME 24/7 or

If my response was helpful, consider clicking Thank, Link or Best Answer.
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0 votes 3 answers Share Flag
Sun May 17, 2015
Chris Bolts answered:
I know this is 2 years later, but here's the thing that nobody mentioned above. What type of employment do you have? The lenders differentiate between employed in a salary position versus contract worker, vs hourly. Then there's 1099 contract workers and w2 contract workers. Here, in Silicon Valley, CA, there's a lot of contract workers, so these questions come up. If you have been in a contract worker position solid for 2+ years, no problem or the same with a regular employer. But the question comes up if you just recently switched from being a full-time employed salary position to an hourly position now. Because now you need to build that two year history in that type of employment arrangement. They have no way of knowing if you're going to still be employed in the next year. With that being said, this is more of a big deal if you're applying for no money down (FHA or VA), but less of a deal if you're doing a conventional loan (20% down). ... more
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Thu Jan 22, 2015
Ali Qureshi answered:
While in a contract seller legally cannot black out unless otherwise stated in the contract such as the verbage " contingent upon seller finding another house"
0 votes 9 answers Share Flag
Mon Jun 9, 2014
Randall Ortiz answered:
663 isn't as bad as you think. You can definitely get a loan with that score. The lenders may charge you a little more for that score, but you should be able to get a loan. It would also depend on your income and debt to income ratios. Contact me if you need further assistance. ... more
0 votes 4 answers Share Flag
Mon Jun 9, 2014
Jessica Aggson answered:
Hi Anthony,

There are couple different ways to buy a foreclosure. You can purchase the home at auction when the bank first takes the home back they auction the homes off in my area right off the courthouse steps. If the homes don't sell at auction then they list them with local Realtor's. So, the other way is to get connected with a local Realtor (if you don't know of one I can refer one to you). A Realtor can send you all foreclosed home listings for you to view.

The nice thing about foreclosures is the escrow process is a lot quicker then a short sale.

I hope this helps. Happy house hunting!

Jessica Aggson
(Recently featured on HGTV's show House Hunters)
Re/Max Parkside Real Estate
... more
0 votes 1 answer Share Flag
Wed May 28, 2014
Michael McLaren answered:
Actually there is a small development of about 8 homes in Newark (near the center of town) that consists of manufactured homes. They blend in so well that most people are unaware of this fact. The big problem with manufacture homes is getting a loan. Most all major banks no longer lend on this type of property. ... more
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Sun Jun 30, 2013
Dawn Rivera answered:
Hi Faisal, good advice below. If you want to contact me I have some good people to refer you to who do loans. Like stated below best thing id to be pre-approved by a local lender before you start looking that way you know what price range you can look at.....Dawn ... more
1 vote 3 answers Share Flag
Tue Jun 25, 2013
John Dutra answered:

FHA raised their rates again this year and the MIP (mortgage insurance premium) now stands at 1.5% of the loan amount with 10% down, 1.55% with less than 10% down.

For a conventional loan it depends on the loan itself as well as your credit score and can range from .49% to .69% or so - which is much less than FHA.

With a conventional loan it is good to remember that the MI charged can be removed in as little as 2 years by either paying down the loan or having a combination of pay down and appreciation that takes the loan to 80% of current market value for your home.

FHA will require a minimum of 5 years no matter the loan to value of the home, but after that will release the mortgage insurance if the loan to value equals 78% or less.

Hope this helps - be sure to write or call with further questions!
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0 votes 2 answers Share Flag
Mon Dec 17, 2012
Michael Koenig answered:
it seems BofA is especially difficult to work with when you're dealing with their call center.

In my experience, working with a local loan officer; where you can walk into the branch and speak face-to-face with the agent, is leaps and bounds above the rest.

Don't fall for those teaser low interest rates, only to fall victim to voice-mail hell and changed loan terms towards the end of the transaction.
... more
1 vote 12 answers Share Flag
Sat Oct 20, 2012
Jim Simms answered:
The short answer is no.

I would also be careful about messing with the financing or title since your uncle told the lender he was buying it for himself as an investment, unless he put you and your wife on title when he bought it. The mortgage has a due on sale clause if the title changes, good luck,

Jim Simms
NMLS # 6395
Financing Kentucky One Home at a Time
... more
0 votes 5 answers Share Flag
Fri Feb 24, 2012
Barry Ripp answered:
Hi Janna,
Yes, the property tax rate in Alameda County, and most northern Calif counties, is 1.25% of the assessed value. You can check the county website for more info:
You can even see your tax bill on line too.
~ Barry Ripp
Union City, CA
... more
0 votes 3 answers Share Flag
Mon Jun 27, 2011
Steven Fong answered:
The buyer can pay for the county transfer tax if it is agreed to in writing. Although it is customary for the seller to pay, it can be negotiated.

Steven Fong
Sunil Sethi Real Estate ... more
0 votes 11 answers Share Flag
Tue May 10, 2011
Gregg answered:
Thanks for all the responses!

The property had originally been approved for short sale, but the previous potential buyer was declined due to DTI issues. Based on the previous appraisal, the negotiator had no issues with offer price. BPO is fine, but the bank has requested a 2nd appraisal, since it has been 6 weeks since the last. There is enough equity in the home for the bank to recuperate all of their expenses, allow $3000 to the sellers, and still have additional proceeds from the transaction. Assuming that the appraised value has not decreased by more than 7% in the past 6 weeks, these figures should still be applicable.

There IS now a purchase agreement signed by both parties; we are now awaiting only the short sale approval, which is expected to take up to another week. According to the listing agent, the sellers' lender will extend the date for COE, and we have already taken steps to amend the purchase agreement to further extend contingencies, inspections, and loan closing date.

It seems that things are now progressing satisfactorily, but there is still a slight concern that the lender will not approve the short sale. There is also a little bit of suspicion, as the listing agent has not been cooperative at all.

Having already obtained a Right of First Refusal, my next question would be:

IF the listing agent hypothetically received a higher offer, could they be working on another transaction without telling us, then present it to the bank and complete that transaction, at which point, there would be no legal recourse to obtain the property? THIS question goes back to my prior inquiry about specific performance. Lis Pendens would not be valid after reconveyance of title.

Should this occur, then I'm guessing there would only be rights to sue for damages and, perhaps, file a complaint to have the agent's licensure suspended or revoked. Is a mortgage processor and underwriter, I had seen many questionable transactions in the early 2000's; During the latter part of the decade, as a Title Clearance specialist, I also saw many anomolies from people trying to get "creative" in transferring title. These occured after properties became REO. I had never had a case disputed after petitioning to have a Lis Pendens expunged. I've also never had a case such as this, or one that I was aware of, that had similar issues withn a short sale.

I don't want to appear to be too paranoid, but I have a vested interest in this property that I don't want to lose. One might suggest that I'm jumping the gun, but timing is everything. The idea to initiate litigation and file Lis Pendens was intended to protect that interest.

As it stands, I am pretty much at the mercy of the listing agent and must hope that they act in good faith. Otherwise, all parties will lose.

Again, thank you to everybody who has contributed with answers. I guess it's difficult to give a specific answer when one doesn't have the complete details. As every case is different, I hope that the responses are applicable to other situations and can at least provide leads for prospective borrowers to follow. As I had faith that everything would transpire according to agreement, I opted against taking action while the window of opportunity was open. Now, I can just hope for the best. Pardon my French, but "Wish in one hand, $hit in the other, then see which one fills up first."

After many hours of legal research and a lot of good feedback, I still followed my heart and the advice of my agent. To sustain control of a situation, one must pull out all of the stops to secure their interests. I think the best action for people to take is to consult an attorney if their puchase is important enough to warrant it.
... more
0 votes 6 answers Share Flag
Sat Apr 9, 2011
The Medford Team answered:

At $360,000, the LIST price was right on target for the area comps. Contrary to some of the suggestions below, it is very possible to get credits from the seller when buying a short sale – we do it all the time. HOWEVER, this is a fairly active area and it’s very likely that the property garnered multiple offers. We had a short sale on the next block and we received numerous offers on our listing. By asking for a credit, your net to the seller was more than likely lower than other offers. It is normal practice to only submit one offer to the bank – and the sellers take the best price, best loan and best terms.

All too often, buyers fail to understand basic market fundamentals when making an offer. Frequently buyers come up with their own calculations of what they think a property is worth and then offer only that amount … thinking that the sellers will agree with your computations. In reality, you have to offer what the market will bear AND what the seller is looking for. And, just as frequently, buyer’s agents don’t do the necessary footwork to determine whether or not there are other offers and exactly what the seller might be looking for. A rule of thumb in that neighborhood for multiple offers: list price PLUS $5,000 for every offer submitted including yours.

My opinion? You should have increased your offering price so that the net to the seller was more in line with what they were asking for and factored in a higher price to account for multiple offers …
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0 votes 8 answers Share Flag
Tue Apr 27, 2010
Steven Fong answered:
From just the information provided the offers are all under asking. Sometimes sellers see offers significantly under asking as low ball offers and don't take them serious. (Some even take insult to them offer) Also, like others have addressed, strength of your offer consists of not only price, but also down payment and terms. Therefore, the sellers may reject your offer or if it is something they feel they can work with they will counter. Are your bidding amounts based on recent comps?

-Steven Michael Fong
Sunil Sethi Real Estate
Fremont, CA
... more
1 vote 29 answers Share Flag
Sun Apr 25, 2010
Steven Fong answered:
If you are looking to the East of Alvarado Blvd between Lowry and Dyer, the residential portion is Fremont. The West side is Union City. Union City and Fremont police officers will be able to give you an accurate idea of what has been happening in those areas lately. I would also recommend going through those areas during the day and night to see what you think. Pay attention to what you see and hear. If you are considering living there, the best way to see if it fits you will be to physically be there. Your gut will tell you how the area makes you feel.

-Steven Michael Fong
Sunil Sethi Real Estate
Fremont, CA
... more
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