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Home Buying in 95624 : Real Estate Advice

  • All51
  • Local Info0
  • Home Buying32
  • Home Selling5
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Activity 19
Thu Nov 3, 2016
Alysse Musgrave answered:
This is very old question but I'll add my thoughts. I've been exclusive buyer's agent for 21 years....the vast, vast, majority of real estate agents are ethical people. But brokerages keep their lights on by hiring agents and charging big desk fees and commission splits. Most don't care who they hire as long as they can pay the monthly fee. And since it's not that hard to get a real estate license, a lot of unqualified people become agents.

When you want to BUY without getting ripped off, hire an Exclusive Buyer Agent to represent you. EBAs represent homebuyers only so there is no conflict of interest to jeopardize your negotiating position. Visit for a referral.

Don't Let Them Make a Monkey Out of You! Follow the links below.

Alysse Musgrave
Consumer Advocate
Exclusive Buyer Agent

Best selling author of Buying a Home: Don't Let Them Make a Monkey Out of You! US, Texas, and Spanish versions available.
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0 votes 23 answers Share Flag
Mon Apr 4, 2016
Alexander Greer answered:

I do not check replies, so if you have a comment or question email me here:

Alex Greer
Loan Officer
NMLS #1056079 ... more
0 votes 2 answers Share Flag
Sun Jan 19, 2014
John Arendsen answered:
Wed Mar 20, 2013
Kendra_dittmar answered:
YES, YES, YES! WE are seeing multiple offers if your home is priced correctly and it is marketed right. Keep in mind the appraisal must come in. I would be happy to sit down and talk with you about your options.

Kendra Dittmar
Coldwell Banker
Elk Grove
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0 votes 9 answers Share Flag
Sun Mar 10, 2013
George Raymondo answered:
Although this is an older thread I believe this is important to address. Contrary to what was been written on this site, Flip Properties (meaning a home that was purchased and resold where the new owner has owned it less than 90 days) can be financed less than 90 days and here is the info:

1.) Conventional Financing- No Flip Rule Applies
2.) VA Loan- No Flip Rule Applies
3.) FHA- If less than 90 days and the new sale price exceeds 120% of the previous acquisition, a second appraisal and sometimes a Home Inspection will be required by the lender and the Buyer CAN'T pay for it.
4.) USDA- No Flip Rule Applies
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0 votes 6 answers Share Flag
Sun Mar 10, 2013
Russ Ravary answered:
I always believe you should have a buyers agent working in your corner, though if you work with the sellers agent you will know exactly what is going on.
0 votes 16 answers Share Flag
Sun Mar 10, 2013
Russ Ravary answered:
A cash buyer will close quicker than a non cash buyer and will usually do no appraisal. So you do not have a chance of it not appraising, or the mortgage not going through. Cash offers are the best offer if all other terms are the same. ... more
0 votes 5 answers Share Flag
Sat Oct 27, 2012
Keisha Mathews answered:
Hello Kennytheb, Current home prices are a reflection of market conditions. Current market conditions show that there is very little inventory on the market and many qualified buyers. That produces a perfect formula for an increase in pricing.

However, there is one problem with the perfect formula, it may only be temporary. There is a reasonable explanation for the decrease in inventory, and it is highly suspected that the flow of inventory will increase once more after April 2013.

Here's why: More than 60% of the properties which were on the local market were foreclosures (REOs) and short sales. On February 12, 2012 our Attorney General, Kamala Harris, along with 48 other State’s Attorney Generals, have obtained a historic settlement from five major banks. The settlement provides benefits to borrowers whose loans are owned by the settling banks as well as to many of the borrowers whose loans they service. Under the terms of the settlement, the banks must offer loan modifications, refinances, short sales or other foreclosure prevention options to struggling homeowners.

This whole process removes these properties from the market while going through these foreclosure prevention options. We are talking about hundreds of thousands of homes.

To encourage servicers to provide relief quickly, there are incentives for relief provided within the first 12 months – and additional cash payments required for any servicer that fails to meet its obligation after the first 12 months.

Many of the banks are already coming out with report cards showing how they are complying with the terms of the lawsuit, and thusly, will probably make an effort to meet the terms of the settlement within the first 12 months.

Once the terms have been met, back to business (almost) as usual. But at the very least, more properties will trickle back onto the market creating less of a demand, and that home that is listed today for $225K and sells for $255K (due to multiple offer situation), could very well sell this time next year for, wait for it... $225K.

The reality is that we still aren't seeing the job growth that truly supports the real estate industry. So much of the equity we are recognizing right now is not to be relied upon. Lest we forget what happened five-seven years ago -- all equity ain't good equity.

Keisha Mathews, REALTOR®
CDPE®, HRC®, HAFA® Certified
"The Short Sale Lady"
Century 21 Landmark Network
(916) 370-1803 cell/direct
(916) 405-3886 fax
lic#: 01439130
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0 votes 1 answer Share Flag
Tue Oct 23, 2012
Jim Walker answered:
Years ago, most sellers priced too high, leaving some "room for negotiation". When most sellers did this it meant that most houses sat while correctly priced properties were quickly sold.

In 2012, Most sellers are distressed, so they are pricing correctly or lower to get a quick sale.

I favor a strategy (when I represent the seller) to price the house realistically to get a sale within the sellers "need to sell" time frame. If you can afford to take as long as thirty days to sell, you can ask a higher price, and perhaps net a bit more in the end than if you priced it to sell the first weekend. With the low inventory, you will still get plenty of showings and action.

Sure it is great to have thirty showings and twenty offers. You only need, and can only sell to one buyer.
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Mon Oct 22, 2012
Sue Archer Reynolds answered:
If you sell now, you are subject to ordinary income tax consequences...IF you're making a profit.

I really don't understand. You have incurred expenses in the transaction, and have yet to realize any real value in purchasing the home...unless you bought it in order to flip it? The answer really lies with your original objective when you bought the home. THAT is the time that you should have been considering your exit strategy.

The pros and cons that you ask for are really dependent on your original objectives. I do believe prices will be decreasing when we start paying real mortgage rates rather then these unbelievably low (and manipulated) interest rates. I also believe that you buy rental properties for the cashflow, not the projected appreciation if you are doing a 'buy and hold' strategy for real estate. Rents are good. Home prices will appreciate over time. They are appreciating now based on the simple logic of supply and demand and will continue to do so based on two factors- real jobs starting to show up so that people can buy, and the FED continues to print money. As soon as foreign investors start taking money out of our economy, or jobs don't materialize, we will see sluggish appreciation or probably a decrease in pricing. Either way, you have time.

If it were me, I'd rent it out for at least a year or more before deciding whether to take your 'profit'.
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0 votes 4 answers Share Flag
Mon Oct 22, 2012
Maria Cipollone answered:
What really sell your home is the kitchen and bathroom. Instead of checking how much can a pool add to a home, you should be concern with the rest of the house. If evertyhing else looks good you are fine, if you are a seller.
If you are a buyer and you would like to buy a house with pool you can add between $10,000 to $12,000 to the home price.

Best of Luck,

Maria Cipollone
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1 vote 5 answers Share Flag
Sat Oct 6, 2012
Sue Archer Reynolds answered:
In this market, the 'norm' (what i see more often than not) is the buyer asking the seller to pay all costs related to the sale of the home, which are detailed in Bruce's answer below. Buyers used to ask for the seller to pay some concession toward their loan costs (e.g. 3% seller credit to buyer's recurring and non-recurring costs of the loan) but not in THIS market.

A good strategy when selling your home in today's market is to structure it such that you receive competitve bids. That will generate competition and hopefully bring you the best PRICE. But the price will also have downward pressure by the buyer's loan appraiser who will bring the price in close to what similar homes have sold for. Another way a sharp buyer's agent will make their buyer more competitive is to offer to pay more of the TERMS.

In the case of a competitive bid on your home, the terms may give you a larger net than just competing on price, and save you from many of the costs outlined below.
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Tue Apr 19, 2011
Sue Archer Reynolds answered:
Make sure and investigate anything you have a question on. You need to be as informed as possible before buying a home. However, the issue of tree roots invading pipes is only a concern in the front of the house as the sewer/water lines connect from the street to your home. Tree roots in the back may have caused cement to raise but that damage is not getting worse now that the tree itself was removed. Irrigation lines are normally flexible tubing and pretty much right at the surface so again, they would not be affected by tree roots.

There are many companies in the area that will run a scope for you from the house to the street to check for any deterioration in the walls, tree roots that penetrated them, or other problems. I always consider it a good idea for homes built before 1970 but also if you have any other suspicion like you have. The cost is normally somewhere under $150. As mentioned before, I rely on your home inspector to point out any issues that you might want to have further investigated, but you're free to inspect to your heart's content for any concerns you have.
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Sat Mar 20, 2010
Dan Chase answered:
Mary Ann, I am sure you feel that it took far to long to get to this point. But now looking back you can see how it finally worked out. You now have what you desired strongly. You kept trying and finally made it happen.

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1 vote 34 answers Share Flag
Sun Dec 27, 2009
Jeff Marr answered:
Ash - if you haven't already spoken with loan officer yet, I'd welcome the opportunity to assist you!

Depending on your citizenship, whether you have US based credit (and fico scores), job transfer status, getting you qualified could be a challenge and possibly take awhile....

now if you've got cash, and a US based bank acct to transact business, then disregard my above comments!

let me know if I can help you!

Jeff Marr
Stanford Mortgage
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0 votes 4 answers Share Flag
Thu Oct 22, 2009
Jim Walker answered:
Tue Jul 7, 2009
Milton Knight answered:
Dear Ja:

From the Sellers points...there should not be a problem when a Buyer wants to revise the offer to higher price. I am assuming that you have a fully executed contract with the Seller contingent on the Seller's lender approval. Therefore, one way to revise your offer without opening the existing contract could be through an addendum to the contract whereby the parties agree to ammend the purchase price but leave all other terms unchanged. Contact your Realtor as soon as possible so that they can assist you in doing this. Time is very important if the Sellers lender is reviewing the offers on the table and is about to make a decision.

Now, it should be noted that while the highest purchase price offer may appear best on its face, it may not always be the one the Seller (or Seller's Lender) goes with. It is possible that a higher purchase price will in fact net the Seller less if there are Seller contributions involved. There are also other terms of the offer to be considered (besides price) that may affect a seller's lender decision.

Concerning your qestion: "If we do revise the offer, will the bank try to get more money from us then?" The bank can always try to get more money (and they usually do), but it is up to you to accept their terms or not. Be careful not to get caught up in the heat of the moment and try to use your best judgment so that you make a decision that you will be happy with for years to come. Good Luck!!!
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Tue Jul 7, 2009
Sue Archer Reynolds answered:
As Erin said, your realtor is the 'go to' person. We are starting to get a feel, based on the lender in question, how long it takes for them to review the file and submit the new analysis to the investor. That gives one level of expectation. Because a negotiator was assigned, and if they keep the file, they might be able to give the listing agent some insight into timeframes....but it's almost back to square one unfortunately.

And when they come back again, will the appraisal still be valid? I think this takes some straight talk between your realtor and the listing agent to set your expectations as best you can. There's just no guarantees in this market.

Good luck Ja
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Tue Jul 7, 2009
Erin answered:
Hi Mumzy: If I were you, I would not rule out short sale homes. They are selling at an ever increasing pace recently.

As Jim pointed out, in order to get your financing approved for an FHA loan, the home must meet condition requirements that are pretty strict set up by the Federal Housing Administration which is not impossible. I have closed several FHA financed transactions recently.

My advice is for you to get connected with one of the Realtors who actively answer questions on Trulia. You can visit their websites where they most likely have posted testimonials from previous clients. This will open up more and better opportunities for you as you'll have access to all listed homes.

Buying a foreclosed home on the courthouse steps is risky and only people with knowledge and experience can accomplish it with any financial success. With that being said, you can subscribe to and get a list of homes in any stage of foreclosure.
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