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Home Buying in 95111 : Real Estate Advice

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  • Local Info0
  • Home Buying13
  • Home Selling3
  • Market Conditions1

Activity 12
Tue Mar 12, 2013
John Arendsen answered:
Wow! I finally have to give a thumbs up to two of the most astute and accurate answers I've ever heard on the Trulia platform regarding manufactured homes.
0 votes 3 answers Share Flag
Sat Oct 1, 2011
Frank Diaz answered:
Hi Mnoman,

I would think the auditor would be a CPA and/or previous property manager that has looked at hundreds of HOA statements. I was my HOA treasurer (annual budget of ~ $500,000) for five years and I can how something can be missed. It's great if they replaced the roof, but are they going to replace the roof drains? On a 10-building project, that could run $50-$100K. What about driveway repaving? Another $100K. One missing item could add an extra $100/month to your fees. I think the trend is also important. If there is a steady trend of 0-3% increases, then I would feel better.
Bottom line: If your agent recommends it, it's probably a good idea.
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Fri Sep 16, 2011
charles butterfield answered:
With respect to financing I recommend Doug Jones, The owner of Mortgage Magic. Doug Jones is located at 1625 The Alameda in San Jose. The telephone number for Doug Jones is (408)975-2400. ... more
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Fri Sep 9, 2011
Larry & Rosemary Utesch answered:
Hello, you have gotten a lot of good advice for this question. I would add that if you have a completed purchase agreement with the seller, it doesn't matter if the listing expires. How long can the process go on? The record in our office is currently 17 months! That one did finally close successfully.

In our experience, most mainstream lenders today pursue the foreclosure process in parallel with the short sale process. Whichever one reaches the 'finish' line first, wins. This discourages the seller from trying to delay the short sale process. Currently, many foreclosures are on hold pending review to insure proper procedures have been followed. This may delay the process, but these properties WILL eventually be foreclosed upon.

Good luck with your home search.

Larry & Rosemary
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Fri Sep 9, 2011
Larry & Rosemary Utesch answered:
Sometimes you get involved with agents who aren't well versed in the short sale rules and processes. As many others here have opined, you might want to avoid this one with the rent back condition.

Main reason? You and the seller can both go to jail! By law, the transaction must be 'arms length': you WILL sign a declaration attesting to that fact in any short sale. It is also specifically stated the new owner may not sell or rent the home back to the current owner. Period. It would appear the listing agent isn't aware of this caveat if he/she actually wrote the listing that way. Ask your agent to report this listing if the listing agent doesn't change it. The seller may not even be aware of this rule. Offered a chance to correct the listing, they may just do so. They cannot legally offer this same condition to any other buyer either, so they may as well entertain your correctly submitted offer. Good Luck!
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Tue Feb 8, 2011
Gilbert Richards answered:
This makes no sense unless this is something having to do with a short sale. The other agents are correct. You cannot credit reserves. Ask your realtor what the seller is talking about.

Because from a lending perspective that makes no sense.
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Wed Sep 22, 2010
Brad B. Becker USMC Retired answered:
So if I understand the property was a repo that this agent represented and you bought directly from the listing agent . Did he/she remove the refrigerator after you saw it????? was the refrigerator in your contract????. The contract is the contract. if you did not put it in the contract I think you are out????. The MLS is an advertisement and just that and advertisement that if you pay full price you will receive the iteams listed. If you change one thing listed in the MLS such as price then every thing is on the table. Yes you could report him to the bank they might not be happy knowing he is removing iteams from homes. Further you could report him to your states real estate comission even though it may be legal it does seem unethical.

Brad
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0 votes 18 answers Share Flag
Mon Oct 19, 2009
Norman Alessandrini answered:
Hi Newbie,
The web sites given by the other Realtors should be checked out by you as you are the one buying the home so you can't really decide on peoples opinion. With that said the area is in fact being made over from what it use to be and that cannot help but increase the value over time. But you have to be aware of the 2 driving forces in the market 1, is closeness of commutes to work and 2, The scores of Schools in your area.
Since the schools in this area are NOT rated highly there is less demand for the area, hence the lower price of the homes that are for sale. OK, it is still worth it if the deal is right, make sure you are working with a good buyers agent.
As always feel free to contact me with any questions.
Regards,
Allyson
408-705-6578
allyson@homesbyallyson.com
DRE# 01397256
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Sat Oct 10, 2009
Joe Salcedo answered:
Hi,

All you have do is to call the Listing Agent that you are working with. But if
you are working with somebody that is different situation. Go to their office
an ask for the HOA Association. All are mentioned on the previous answers. ... more
0 votes 6 answers Share Flag
Wed Oct 7, 2009
Joe Salcedo answered:
For investment property this is the right place you can get a Townhouise or
Condo in Seventrees Area at Price range from $100,000. to $145,000. HOa
are low compare to other Hoa. But if you buy a single home pricefrom $ 240,000 to
$260,000 you can get those REO/Short Sale that is good. But again if you running
a investment property you have to get a Management Property as mentioned in the
previous answer.
... more
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Fri Jun 26, 2009
Benny Anastacio answered:
You need a professional Realtor that could represent you.
Please don't hesitate to call me for any concerns.
Thank you.
0 votes 8 answers Share Flag
Fri Jun 26, 2009
Jim Swanson answered:
I would say as always, you have two first steps. Find a reputable lender to work with, but also find a good local Realtor to help guide you. Some bank owned homes are being held off the market (different areas of the country may operate differently) so that the market is not overly saturated, thereby causing more price erosion, which damages everyone who owns a home. Some homes may be sold by the bank to perhaps HUD to be sold. I only say this because I just submitted an offer to HUD on a home today for a client, and it was owned by a bank then sold to HUD. If your local Realtor is knowledgeable, they will research the bank that owns the home, and then contact the agents in the area that they know usually handle listings for those banks. If all goes well, they may be able to get a forecast for the home to know when it may be available.

Sorry for the long answer, but I hope it helps. From Tacoma, WA.... All the best!
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