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95138 : Real Estate Advice

  • All16
  • Local Info1
  • Home Buying8
  • Home Selling1
  • Market Conditions0

Activity 12
Mon Mar 6, 2017
Teegirl44 answered:
When the landlord sends that bank to look at all the units from the inside, and takes picture's does that mean the bank is taking the property from the landlord
0 votes 16 answers Share Flag
Fri Oct 9, 2015
Cynthia_arp answered:
It's true the mail theft and car break-in's are a problem. Recently there have been garbage and recycling scavengers. I fear identity theft....
On another note, if you want to pay 500,000 + for a condo that is next to a driveway that has been turned into a playground with screaming children and rude parents. This IS the place for you. Oh and the renter/owner ratio is obviously a problem....which contributes to the entitled attitude of the rude parents. ... more
0 votes 12 answers Share Flag
Wed Jul 24, 2013
Ron Thomas answered:
Sun Feb 24, 2013
Juliana Lee answered:
I don't recall seeing HOA document costs that high. For a little more info see:

HOA documentation often involves a couple hundred pages or more. I often see costs at the high end of the range the article says are normal ($75 - $250) charged to my sellers when the documents are obtained to post online.

If the $800 fee is charged to you as the new owner, there may be other fees than just providing document copies.

San Jose real estate information at

Juliana Lee

Top 2 agent nationwide at Keller Williams Realty
Over 30 years experience
Over 1,000 home sales completed in Santa Clara and San Mateo Counties
... more
0 votes 9 answers Share Flag
Wed Feb 13, 2013
Mitchell Pearce answered:

The short answer is No, it won't have a negative effect on the refinancing. In order to finance the purchase, you have to be qualified to carry both mortgages. If you re-finance to a lower rate, then your ability to carry both mortgages gets better. The caveat in this though is that BOTH houses qualify as your residences. If the old house is deemed a non-residence, then the answer will be yes, the purchase will adversely affect your ability to re-finance the already owned house because it will be considered an investment property at that point. Investment properties carry a higher rate than residence properties.

A full analysis of your situation and probabilities will require disclosure of your private information as if applying for a loan. You don't want to do that in a public forum. I would be happy to take care of your financing. You can call me at 408-639-0211 or email me at

Mitchell Pearce
... more
1 vote 4 answers Share Flag
Fri May 4, 2012
Robert Chomentowski answered:
If it is a fixer upper that buyers with loans would having trouble financing, yes you can get a good deal. If it's not a fixer upper and FHA buyers could easily buy, you probably will not get that great of a discount. ... more
1 vote 14 answers Share Flag
Thu May 3, 2012
Elena Talis answered:
Get your agent and the loan broker review the situation. Don't sign a contract without your loan broker agreeing to 21-day escrow. The conditions stated by the listing agent seem fishy to me. ... more
1 vote 8 answers Share Flag
Wed Nov 23, 2011
Ruth and Perry Mistry answered:
Hi Kluless97

One option is Rent to Own.

While you are strongly encouraged to talk to a Tax Advisor, here is some guidance to your
questions above.

Clearly, you cannot take a loss on your Principal Residence and carry it forward. One eats
the loss on a Personal Residence with No Carry Forward of the Losses.

However you can on a Rental property as it is deemed as an Investment Loss. However,
if the Tax rules change in the future then you may not beable to.

Since, you do not want to pay the $8K tax Credit nor ruin your Credit your best bet
is to rent it out and write off the structure. Clearly, iff you exercise a Short Sale or
Foreclosure, your credit does take a hit for 3-7 years

One option is Rent to Own, but the challenge is determining the price today on a
property that will be exercised to close 3-5 years out.

If however, the stock market crashes and the economy and GDP dives, then there is no guarantee
that you may even get $1900 in rents if the market liquifies. Also, if the Tax structure changes and we
go to a Flat Tax structure, the days of write offs will be done.

In the mean time do find out who is holding your loan, this is important.

Do get in touch to discuss further if you wish.

Best regards


Coldwell Banker
... more
2 votes 11 answers Share Flag
Thu Apr 21, 2011
Sunny Chauhan answered:
Wed Sep 22, 2010
Mary Sheppard answered:
This is a great time to buy! Home prices have come down considerably and have never been more affordable. Interest rates are at historic lows. Can they really go much lower? Selllers are motivated to sell so buyers have a large inventory of property to choose from now. Additionally, you’ll have bargaining power. Lenders are lending. If you have a job, a reasonable down payment, and good credit, takes the plunge!

Rents are back on the rise while property prices, according to some experts, have dropped nationwide by 30% to 40%. Other experts believe we are back to 2002 property values.

If the above wasn’t compelling enough for you buy a home, keep in mind that you can deduct property tax and mortgage interest expense on your tax return. Check with your accountant or tax expert to confirm your projected deduction based on your specific circumstances. This is better than taking a renter’s credit on your tax return. Finally, owning property could be your biggest retirement nest egg. Instead of paying a landlord rent you are investing in an asset you own!
... more
0 votes 11 answers Share Flag
Sat Jun 20, 2009
Micki O'Toole answered:
Good morning Angie,

I am going to echo the other agents below. Howeve, I will add that unless your agent is the listing agent he/she will NOT be able to contact the bank for any information as the person calling has to be on file as being authorized to speak to the bank on behalf of the seller.

That being said some banks are in fact more overwhelmed (Countrywide -now BofA- being one of them) and thus they are taking much longer. It also depends on if the bank has delegated authority to make the decision. If not, then they have to bring the offer with all of the supporting documentation to the investor(s) to get their approval.

I always tell my buyers who are interested in short sales that unless they are willing to wait it out for the LONG haul, it might not be in their best interest to persue. The listing agent as MIchael noted below has to be diligent in contacting the bank and take excellent notes to ensure that the file moves along...

I know it is frustrating but please understand this is not unusual.

All my best,
... more
0 votes 3 answers Share Flag
Thu Mar 12, 2009
Keith Sorem answered:
All situations are different. You situation is not specific, so in general responses can vary a great deal.
For example, if the home has not yet been approved for a short sale, it could take weeks. Once it is approved and the price set, it may take a few days.

It all depends on the lender and the manager assigned to that case. The better the listing agent, the better it will go.
... more
0 votes 3 answers Share Flag
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