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Home Buying in 95020 : Real Estate Advice

  • All38
  • Local Info0
  • Home Buying19
  • Home Selling6
  • Market Conditions1

Activity 14
Thu Aug 11, 2016
Derek Jones answered:
Assuming no hoa and preliminary title report already received you should be able to close within a week. But things like inspections, hoa docs, prelim title reports can delay the process. ... more
0 votes 2 answers Share Flag
Sat Sep 27, 2014
Lisa and Pete Fleming answered:
Hi Pam,

I have four kids under 12! Gilroy is an awesome place for families and children. The schools are great and the brand new high school is even better. If you should have any questions let me know

Peter
... more
0 votes 20 answers Share Flag
Wed Jul 3, 2013
Debby Bright answered:
Quite the contrary. Selling a house in either of these areas is not difficult at all. These are both very desirable areas. Morgan Hill is a little hotter than Gilroy because it's 10 miles north, and closer to San Jose. When a property is priced right (and that's the key, along with making sure it shows well), it will sell in any market in any location. No need to worry about Morgan Hill or Gilroy. You'll love the area. It's rural yet you have the benefits of an urban atmosphere (good schools and a wide variety of shopping options. Plus larger homes on larger lots in many neighborhoods. You go girl!

Debby Bright
Real Estate Broker
408.309.0777
CA DRE #00957311
... more
0 votes 1 answer Share Flag
Wed Jul 3, 2013
Debby Bright answered:
Most of the investment properties in Gilroy are located west of Welburn. Some of the units on Kelton Drive are very nice, among others. Call me and let me know your email address and I'll send you listings off the MLS.


Debby Bright
Real Estate Broker
408.309.0777
CA DRE #00957311
... more
0 votes 5 answers Share Flag
Wed Jul 3, 2013
Debby Bright answered:
If you want to live in the most desirable area in Gilroy, make sure the property is located west of Welburn Ave. As someone already mentioned, the NW quadrant is a great location. But expect to spend $500K for something decent. Otherwise, there's a townhouse community off Forest Street on Fortunata Place where the 3 bedrooms are $325K and 2 bedrooms are priced at $275K. There are resale restrictions in this subdivision and a few hoops you have to jump through to purchase the property, but there are also low interest rate loans to supplement your down payment,, so give me a call if you want more details about this subdivision.

Debby Bright
Real Estate Broker
CA DRE #00957311
408.309.0777
... more
0 votes 6 answers Share Flag
Wed Jul 3, 2013
Debby Bright answered:
It depends on whether or not the tenant is cooperative. If he is, then he's to be served written notice to move giving him a certain amount of notice (30 days or more) depending on the length of his tenancy. If he's not cooperative, then the Seller/Owner/Landlord shall have to initiate eviction proceedings and that could involve quite a few months. Figure about six months duration to accomplish an eviction. Tenants' rights are tricky so I'd definitely work with a broker who's familiar with tenancy law.

Debby Bright
Real Estate Broker
CA DRE #00957311
408.309.0777
... more
0 votes 3 answers Share Flag
Wed Jul 3, 2013
Debby Bright answered:
Is this a short sale? Unfortunately, the banks take their sweet time responding or moving forward on processing sales. They were supposed to speed up the process as a result of billions of dollars in fines with the feds and the State of California but many of them haven't taken the settlement seriously.

I wouldn't stop looking. Something better may come along before your current transaction ever gets approved. You're in the "cats' seat" with an all cash offer.


Debby Bright
Real Estate Broker
CA DRE #00957311
408.309.0777
... more
0 votes 4 answers Share Flag
Wed Jul 3, 2013
Debby Bright answered:
My favorite neighborhood in Gilroy is Eagle Ridge, hands down.



Debby Bright
Real Estate Broker
DRE #00957311
408.309.0777
0 votes 4 answers Share Flag
Wed Jul 3, 2013
Debby Bright answered:
15% down payment is always better than 10% but as long as you have a pre-approved loan (not pre-qualified, it must be pre-approved, then you should be able to compete in the market place. Interest rates are probably going up so by the time you have 15%, a few up tics in the interest rate can translate into a lot more money over the life of the loan (30 years). Moreover, chances are the values will continue to appreciate so the property you can afford today will be out of your price range by the time you save the additional 5%. I'd go for it today, assuming you're pre-approved.

Debby Bright
Real Estate Broker
DRE #00957311
408.309.0777
... more
0 votes 3 answers Share Flag
Fri May 31, 2013
Sam Shueh answered:
There was a lender who also has a local real estate brokerage handling temp lease while selling it. I am not sure it is around anymore.
0 votes 5 answers Share Flag
Wed Aug 19, 2009
Sam Shueh answered:
I understand how you feel. Did your realtor explain to you it was not a sure thing as conditions do change.
Suggest you to put away your emotional frustration and move on and aggressively look for a more reliable
method to get accepted. Home price in Gilroy has gone up!
... more
0 votes 5 answers Share Flag
Sun Jun 7, 2009
Wayne Giroux answered:
Hi Maggie. Just a little amplification: PR - Pending Release - is supposed to be used when there is a contingent offer, that is, contingent upon the sale of another home (or purchase). Often, but not always, there is a '72 hour' clause that allows the seller to entertain other offers, and, if a backup offer is accepted, to give the first buyer 72 hours (or whatever time was negotiated) to remove the contingency and show the ability to close.

PS - pending show - has a new meaning in some cases. On a short sale, if the seller accepts an offer and submits it to the bank, it must be shown as PS even though the bank has not yet considered nor accepted it. The sale is generally contingent upon bank approval. Some sellers would like a backup offer, some would prefer not to have one. Often, if an offer comes in at a higher price, there is an obligation to let the bank know which could delay the approval process.

Let me know if you want a recommendation for a good Realtor in the area.

Regards ... Wayne (408-858-7199
... more
0 votes 2 answers Share Flag
Sun May 10, 2009
Wayne Giroux answered:
From a strategy perspective, assume you don't have a deal and keep looking. You might ask your agent if you have a signed contract yet, (as some agents avoid having the seller sign in which case there is no contract). Regardless, since your offer is subject to bank approval, and since bank approval, if it comes, may have strings attached you don't like, and since you can always be bumped by another offer, you should act as if you have made an offer and are awaiting acceptance and meanwhile you keep looking. Work with your agent and try to get another iron into the fire. Depending on the bank, they can be very difficult to communicate with, and sometimes hardly communicate at all. Meanwhile, keep an eye on the foreclosure process, in particular the existance of any kind of notice of default. You and your agent will want to keep aware of the dates.
... Wayne
... more
0 votes 3 answers Share Flag
Mon Jul 14, 2008
Roland Barcos answered:
Hi Lao - As a real estate agent, I'd be more than happy to take you there, but the questions you ask can best be answered by talking to the builder. Here's the contact information:

Mesa Ridge
Sales Office Now Open!
5871 Masoni Place
Gilroy, California 95020
408.848.2121 Voice
408.848.2122 Fax
Sales email: mesaridgesales@dividendhomes.com


Good luck,
Roland
... more
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