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94597 : Real Estate Advice

  • All14
  • Local Info3
  • Home Buying5
  • Home Selling2
  • Market Conditions0

Activity 12
Tue Aug 2, 2016
Rflauderdale asked:
Thu Sep 18, 2014
Kevin Chapin answered:
Hello Elizabeth. IT DEPENDS. There are a lot of variables involved that are not in question. How large of a place are you looking to rent? Why are you considering renting in Walnut Creek or buying in Arizona? Is this an investment?

If you could provide more complete info, I'd love to give you my opinion.

I can be reached via email at: kevin@loans-realty.com


Typically buying holds greater benefit in the long run for investing, but as I said before it depends.

I do both lending and transactions and would love to give you some feedback.
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0 votes 2 answers Share Flag
Fri Aug 8, 2014
Simon Watson answered:
Dave,

I am also a English with a green card living in Walnut Creek, feel free to give me a call if you want to chat,

Simon

Simon Watson
Keller Williams Realty
(925) 286-7112

BRE 01881304
simon@myrealtorsimon.com
www.myrealtorsimon.com
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0 votes 2 answers Share Flag
Fri Feb 21, 2014
Jayne Combs answered:
No, in fact the loan officer that reviewed your file should have been able to tell if you could qualify without him. You do not necessarily have to go somewhere else if you are happy with your current lender. Just ask him to see what you qualify for on your own :). ... more
0 votes 6 answers Share Flag
Mon May 27, 2013
Dlrespm@yahoo.com answered:
The main difference is school district. Larkey Park has more older homes and neighbors pleasant hill. Heather Farms homes are generally a little newer and has nicer homes in neighboring Northgate area. Each area has unique characteristics and preferences is totally subjective to what the home buyer is looking for in a home. Hope that helps. ... more
0 votes 6 answers Share Flag
Wed Mar 13, 2013
Fred Weston answered:
Your unit should sell in the $300k plus area based on your statement that the unit has been extensively remodeled. However, a detailed Comparative Market Analysis should be prepared to more closely determine the selling price. This is a fast moving market with most places receiving multiple offers so selecting a good, professional Realtor to represent you will be very important. ... more
0 votes 6 answers Share Flag
Sun Dec 4, 2011
Steve Hansen answered:
It sounds like you were the victim of a scam. For starters, it is illegal for a broker to collect an upfront fee for assistance in a loan modification. You mention several different parts to your situation that “smell bad” including short sale listing “kept in short circles”, Broker’s advise to hold off on filling a bankruptcy , and advising you to stop making mortgage payments. A broker should always advise you to get legal advice from the appropriate professionals, such as an attorney so you can make informed decisions. You should have started with a good understanding of all your options and the potential consequences. I would need to know all the facts to render an opinion on the degree of wrongdoing or malpractice committed by your broker and the merits of your position. You should consult a good real estate attorney. If the broker is a Realtor®, you have a good first option. You could file a complaint with the local board of realtors, where the Realtor is a member. The Realtor boards have a grievance committee that can determine how well-founded your complaint is and how many articles of the Realtor’s code of ethics have been breached. Most Realtors are ethical and professional and put their client’s best interests first, but like any profession, there are a few bad apples out there. Another problem is that some agents are honest, but unconsciously incompetent and don’t even know they are doing something illegal, giving bad advise and/or creating poor results when good results were possible! Here is the best analogy: An auto mechanic is very honest, but he is not competent enough to diagnose the problem with precision, so he uses a “process of elimination” replacing the wrong parts at your expense, until he finds the one bad part! You are no better off than if you choose a “competent” dirt-bag, that intentionally does over-kill work on your car to jack up the price! Best of luck! ... more
2 votes 7 answers Share Flag
Fri Jul 8, 2011
Johnny Huang, MBA answered:
Here's an event you might want to check out. Commercial REO information.
0 votes 5 answers Share Flag
Wed Nov 24, 2010
Bob Georgiou answered:
Dave,

I'll stick my head out on the line and say that the condo market has pretty much bottomed out and will be dragging along the bottom for a little while longer. The condo�39;s got hit the WORST of all real estate bubble assets. They prices went up disproportionately higher than single family homes (SFRs), fell further than SFR's, then HOA took a beating, then lenders all but stopped lending on condo's. As a consequence prices fell as much as 75% in some associations. Even now In order to buy a condo today you have to be an owner AND have a big down payment.

AS associations improve financially and rentals fall toward 75% owner occupancies (with newly placed rental restictions in many associations), financing will return and you should expect to see priced jump again disproprotionately relative to SFR's since people will be able to buy in with 5% down once again. This will allow upward price appreciation once again. With condos as low as 100k in some areas, the market will turn quick when it happens. Recently some banks have announced new lending guidelines so recover in the low end condo market may happen as soon as 2012.

How much will homes go up? Hard to quantify in a number.
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1 vote 5 answers Share Flag
Tue Nov 2, 2010
Stuart Mcafee answered:
April;
I feel your pain, I too live in the Cherry Lane neighborhood and have tried to refinance.
Here are the most recent sales in our neighborhood;
2600 Cherry Lane 4/3 on 2783 Sq. Ft. $832,000 sold 9-23-10
All other sales in our neighborhood were in 2009
55 Frances 3/2 1935 Sq. Ft. sold 3/30/09 for $815,000
23 Elmwood 3/2 1361 Sq. Ft. sold 9/23/09 for $645,000
15 Elmwood 4/3 2379 Sq. Ft. sold 10/13/09 for $750,000

If you or anyone you know wants to buy or sell a house, let me know.

Stuart McAfee
Empire Realty
925.899.2554
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0 votes 2 answers Share Flag
Tue Oct 19, 2010
Kevin Olson, Jessica Laude answered:
Hello,

I've got several blogs on Trulia offering free advice on BPOs and how to get into company systems. The certificate from the school is just another one of those places to spend time and money. Very few companies care about this sort of thing unless you are "certified" by a class they approve, which most of the time happens to be owned by them for an additional moneymaker. The 2 year requirement is getting to be more common, but don't give up. Plenty of the good companies will take you on with less than 2 years experience.

Here is a Trulia link for a full list of companies that are currently active:

http://www.trulia.com/blog/kevinolson/2010/09/bpo_company_list_a_good_one_broker_price_opinion_companies

Read some of my blogs on signing up, getting into the system is a simple process to get that 1st BPO.

Best Wishes,
Kevin
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3 votes 1 answer Share Flag
Sat Feb 13, 2010
Barbara Wilson answered:
You do need some money in the bank in order to buy a home. A friend or relative can lend you the money, (talk to your loan broker about the rules for that- i have a couple i trust and work with) but in my understanding, here is a brief list of what you will need.

If you are a veteran of the US Military and can get a VA loan, you can get a 0 down loan, but you will still need about 3.5% of the selling price for closing costs. If you cannot get a VA loan, you will need at least 3.5% of the selling price of the home to use as a down payment for an FHA loan. If you are buying a $100,000 home, you will need at least $3500. Then, there are closing costs. Those are the cost of the loan, the appraisal, any inspections you have, title insurance, some property tax that you pay early, the first sometimes almost 2 months of payment, for another approximate 3-5%. So on that $100,000 home, you will need another $3000 to $5000, for a total of about $8500 out of your pocket to buy a house at $100,000.

The more money you have to use as a down payment, the better your offer will be regarded by the listing agent. People with 20% down seem more solid and more likely to be able to complete the deal than someone with nothing down, so you want to put yourself in the best possible situation so that when you find the home you love, you will be able to buy it, and not have your offers rejected. There is a lot of competition in the under $800,000 price range, with multiple offers happening all the time. So be ready, get your finances in order, and then you will be successful!
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