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95128 : Real Estate Advice

  • All26
  • Local Info2
  • Home Buying11
  • Home Selling4
  • Market Conditions0

Activity 21
Mon May 1, 2017
Marcycurbelo answered:
Hi, Im looking To save my home need a loan my mortgage is $00.balance
0 votes 10 answers Share Flag
Sat Aug 27, 2016
Kevin answered:
I am living in an "unincorporated" area of San Jose so I can answer your question. Some of benefits: 1. You are in Santa Clara County Libraries serving area. You can borrow books from San Jose Public Libraries without any restriction but only unincorporated area of San Jose can borrow books form Santa Clara County Libraries without paying extra fee. 2. San Jose is short of police force but unincorporated area is manged by county sheriff which offers frequent patrolling.3. Less restrictions in permitting, for example, in San Jose, you need cost and efforts to remove a tree but no permit required in County pockets. 4. Faster service, I applied extending electricity to my storage shed, I got it inspection done quickly and friendly.

I am happy to live in a county pocket and not willing to be incorporated with San Jose.
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0 votes 5 answers Share Flag
Wed Mar 9, 2016
Mark answered:
On the open market asking Agents to submit commission bids we are seeing the bulk of those bids come in between 4% and 5%. https://www.ListingBidder.com
0 votes 32 answers Share Flag
Wed Jun 10, 2015
Deenateen answered:
Banks are overwhelmed with the volume of REO homes they are handling. The best way to expedite the process is to approach the listing agent. One West Bank properties can be accessed here: https://www.indymacmortgageservices.com/IndyMac/REO/

Reference Link: http://reohomes.org/directory/
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2 votes 15 answers Share Flag
Wed Feb 25, 2015
Tristam Bielecki answered:
Thu Jan 30, 2014
Bahia Fear answered:
You are correct. there is a strategy.

If you want to get an idea for yourself, you can personally research the sales of property in your neighborhood using online resources like mlslistings.com and get a general idea. Factors such as inventory, schools, etc. will affect the price as well.

Your realtor can provide you a guestimate of what you would net after all the costs depending on your list price so you can have all the information you need to make a decision as to how much to sell your home for if you do want to sell it.

Your realtor can do all this research for you and should be your advocate through the process.

Feel free to call me if you have any additional questions.

Have a great day.
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0 votes 17 answers Share Flag
Thu Jan 30, 2014
Bahia Fear answered:
No matter what information you find, it is always wise to verify through additional research. Usually you find a trail that leads you to the true answer.
0 votes 11 answers Share Flag
Sun Oct 21, 2012
Ruth and Perry Mistry answered:
Hi Bando

Welcome to San Jose.

Go to my blog and get an idea of the trends in the valley or San Jose at

http://www.trulia.com/blog/perry_mistry/2012/07/santa_clara_county_home_sales_trends_bay_area_homes

Then check out my web site at
www.ruthandperry.com
and look at all the available, Regular sales, short sales, and Bank owned properties.
There are easy links and the search is done for you.
We can also qualify you over the phone before you come down.

Get in touch, and we should be able to help you.

We have some fine homes coming soon and not on the MLS yet.

Ruth

Coldwell Banker
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0 votes 6 answers Share Flag
Sun Oct 21, 2012
Maria Cipollone answered:
It depends of the situation. If you are selling your home and you really enjoy working with your agent, yes. You can use the same agent to buy your next home.

On the contrary, if you are trying to buy a house from the listing agent, is not a good idea to work with that agent, because he/she is looking on the best interest of the seller, not yours.

Best of Luck,

Maria Cipollone
Century 21 Tenace

www.Flahomespecialist.com
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1 vote 16 answers Share Flag
Sat Oct 20, 2012
Ruth and Perry Mistry answered:
Good morning Lillian

Check with your agent or call me.

Of if you wish, check at my site that lists all active homes in San Jose that can be sorted by Zip Code.

http://ruthandperry.com/San-Jose-Homes-and-Real-estate


Good luck
Perry
... more
0 votes 14 answers Share Flag
Sat Jul 14, 2012
Robert Lei answered:
Just last Saturday I had 30-40 families come through my open house in just a 2 hour window 3pm-5pm. I think I know another reason why your open houses didn't attract many people. If you let me know the address, I can check out my theory. ... more
0 votes 14 answers Share Flag
Tue Aug 9, 2011
Andy answered:
Thank you for your answers no matter the opinions.

I did not make my question very clear. I should say in this question, I focus on agency, CA agency/client relationship and code of ethics for the agents who are Realtors. I am not talking about the things such as turn time or paperwork etc.

Annette is from FL. FL is transaction broker state. I do not know if that may make a significant difference there.

Andy
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0 votes 11 answers Share Flag
Mon Jul 4, 2011
Michael Cheng answered:
As much as appraisers claim to abide by professional standards, for the most part, the appraisals I've seen are no better than random guesses from a casual observer. At worst, they're totally suspect when an appraisal comes in at the exact amount of the purchase offer, down to the dollar.

Often, when you use an appraiser hired by the bank for a refinance, you'll likely get a deflated value as the bank tries to hedge their risk exposure. So, always get your own appraiser or get a referral for one of the rare good appraisers who assesses your property against properly type-matched comparable properties around your neighborhood.
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0 votes 9 answers Share Flag
Thu Apr 7, 2011
allan erps,ABR,SFR answered:
Wells Fargo using Equator can only be a step in the right direction. Have been dealing with them for 10 months to the point where the Buyer walked over their inept approach and time(2 committments ran out). The Buyer is back now(we were $1,000 apart from over $40,000) and they are taking their sweet time again!!!!! ... more
0 votes 9 answers Share Flag
Tue Apr 5, 2011
Terri Vellios answered:
Your agent and the listing agent are going to be your best allies. If the comps show one thing they will need to be able to justify your less than comp price. The bank is going to rely on the BPO/Appraisal to determine market value and hopefully it will support your offer.

The chance of them accepting is blind. No one knows until it comes back yes, no, or otherwise. Nothing in this market is determinable.

All the Best to you.
... more
0 votes 8 answers Share Flag
Thu Feb 17, 2011
Mitchell Pearce answered:
Confused by the previous answers? To help, first, ignore Mr. McCoy's answer because he is flat out wrong. Second, let's look at what "assessed value", appraised value, and sales price mean with respect to loan amount and whether you need mortgage insurance.

First, Assessed value refers to what the tax collector thinks the property is worth. For comparable properties, as in same street, same floor plan, same lot size, same amenities, same age, and the like, what the assessor is supposed to think a property is worth is what the comparable property sold for most recently. If the assessor is saying the property you are thinking of is worth more than those comparable properties, the present owner can file a tax appeal to change the assessor's mind. However, once you buy your property, the Tax assessor, assuming you buy this property through Realtors and you are not related to the seller, MUST assess the property at the price you bought it for, i.e. the Sales Price. Lender's do not base any lending decisions on the tax assessor's "assessed value" for a property.

Second, Appraised value, is the value the appraisers working for your lender say they think the home most likely will sell for on the open market. This is an educated guess on their part.

The Sales price is what you actually pay for the property.

Lenders base their decision to require mortgage insurance on whether the amount of your loan is greater than 80% of the LESSER of the Appraised Value or the Sales Price. To look at it from the lender's point of view, if you buy the home for less than appraised value, it is safer for them if they assume the appraisers are wrong so they accept your sales price as the true market value. If you buy it for more than appraised value, is is safer for the lender to assume the appraiser's are right and you bought the home above market value for reasons known only to you. So, in either case, the lower number is the one the lenders will assign as the benchmark for determining if your down payment is greater than 20% of the value of the property in their eyes, and thus whether you need mortgage insurance.

I hope this ends any confusion you may have. If you want to discuss your situation in more detail, please call me, Mitchell Pearce, at 408-639-0211 or email me at mitchell@handsonrealtor.com
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3 votes 7 answers Share Flag
Mon Dec 20, 2010
Grace Hanamoto answered:
Hi Huskers and thanks for your question.

Personally, there are many parts of San Jose that would be appropriate for your parents, but the better questions to ask, especially for seniors, will center around access and mobility and then housing costs. A surprisingly large number of seniors are living well into their 80s and 90s, so access to public transportation and proximity to basic supplies, such as food, shopping, medication and hospital or doctor services (within walking distance), is a necessary consideration.

Also to be considered is traffic patterns in the area since many seniors do like to drive well into their 80s and fast moving traffic that never seems to let up on surface streets leading to the market or doctors, for example, can present both safety and access problems for seniors. Many of the roads in these areas are multi-laned, and will require the senior to cross multiple lanes of traffic to head toward markets or back home.

Finally, consider the house itself for your parents. Although many would like single family homes with yards fore and aft, it may be more convenient for your parents to consider patio homes where a homeowners association will maintain the exterior of the building, but will still afford your parents a small garden area. Also consider the age and condition of the property, since older homes can require both extensive and expensive repairs, which can be a burden for those on fixed incomes. The area in which your parents are focusing has a nice combination of smaller, single story homes with smaller lots that can provide a great living place for your parents.

Work with an agent who is sensitive to the needs of older citizens and who also knows the area well. Realtors who specialize in or have training to address the issues of older home owners and buyers have the "SRES" or Senior Real Estate Specialist designation. For a list of SRES certified Realtors in your area, go to www.sres.org.

Good luck!!

Sincerely,
Grace Morioka, SRES
Area Pro Realty
Tel (408) 426-1616
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0 votes 9 answers Share Flag
Sat Aug 7, 2010
Andrea Wince ~ Lic. 01439761 answered:
Hi Rene, I see this is an old questions, did you ever buy a home? I would believe that in today's market you should be able to get a 2 bedroom for $250k.
0 votes 4 answers Share Flag
Wed Jul 16, 2008
Andrea Wince ~ Lic. 01439761 answered:
There are plenty of REO/Bank Owned foreclosed properties on the MLS where you can have a Realtor represent your purchase from the bank/seller. The banks hire a Realtor to market and list the property on the MLS and pays a commission to the listing Realtor and the buyers Realtor so the buyer does not have to pay his Realtor to represent him. You pick your own Realtor for free. The only time you must pay cash is when you bid at the courthouse auction/trustee sale. For a complete explanation of every step of the foreclosure process, I've found Realty Trac to be helpful. The link is below............... ... more
0 votes 10 answers Share Flag
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