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Home Buying in 95757 : Real Estate Advice

  • All49
  • Local Info0
  • Home Buying21
  • Home Selling7
  • Market Conditions3

Activity 21
Mon Jun 23, 2014
Derek Jones answered:
Since it seems like you are looking to eventually own a home, have you talked to a lender yet? I would recommend talking to a lender to first check if you can currently secure a loan, if not most of the time they can refer you to a credit repair company to improve your credit. My wife was kinda in the same boat as she thought she had poor credit but was actually able to quality for a loan. ... more
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Tue Dec 3, 2013
Jason Walter answered:
I'm sorry to hear about this problem. It's been a few months since then so can you give us an update on what happened?
0 votes 6 answers Share Flag
Sun Oct 20, 2013
Christopher Jordahl answered:
There is not much you can do. Just be glad you have an acceptable offer and you can be rid of the house. If this woman is that bad and under handed just remeber what goes around comes around. Good luck. ... more
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Sat Oct 12, 2013
Anthony "Tony" Rosica answered:
Sat Oct 12, 2013
Anthony "Tony" Rosica answered:
You need to consult with an attorney to see if you can legally get out of the contract, without penalty. If not, then sometimes offering the seller part of your deposit can help in getting out the contract legally, but make sure all this is in writing and reviewed by an attorney. ... more
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Sat Oct 12, 2013
Anthony "Tony" Rosica answered:
Anybody is capable of doing anything, but in general sellers want to see the short sale happen, because they have a better chance of preserving their credit in the long run. Banks usually cover most outstanding bills, including property taxes, unless they know the owner has available cash to assist in payment. ... more
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Sat Oct 12, 2013
Anthony "Tony" Rosica answered:
I'm not sure that cash really helps you in a short sale. I have seen good deals had with mortgage offers. In fact, one buyer kept his option open and made the offer mortgage contingent. He received agreement on a price and decided from there to go cash. He received a better value than any of my other short sale. I think short sales are more about how many properties the bank wants to clear off their books that month, than whether they are getting a fair price for the home. ... more
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Sat Oct 12, 2013
Anthony "Tony" Rosica answered:
Which bank is it with? Certain banks are looking for a certain percentage on average below there asking price....
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Sat Jun 29, 2013
Cathy Davis answered:
Hi Bruce,

It's been over a month since you posted your question to this forum, but I thought I'd offer my 2 cents to the discussion, in case you haven't yet found a home. You live in Folsom, another nice community. Will you be moving to Elk Grove or are you looking to purchase an investment property?

If you ask about a "good" area to purchase a home in Elk Grove, you will get a variety of responses, many primarily based on the individual's own opinion, something you may have already noticed. I'm curious to know what you mean by "good". Are you looking for highly rated schools, is safety/low crime a top priority, do you need to live close to shopping, restaurants, and freeway? Is a high return on investment your goal? If you were to identify what you value the most in a home or neighborhood you want to live in, it might be easier to pinpoint the areas your agent can recommend for you!

Best of luck to you in your search :)

Cathy Davis
Lic. #01481862
Cell (916) 525-5888
Fax (877) 526-0447
... more
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Fri Jun 7, 2013
Michelle Wong Team answered:
Angie, we do have condo at this price, and few in 95758 at $199,000.
As an investor agent, besides price, I would look more closely on the terms and conditions of the price. IF you want a more detail answer to your question, you can email me your creteria to my office at! My team have helped many people find their home, I am certain that I can also help you. 916-234-6888 ... more
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Fri Jun 1, 2012
Judycuong answered:
Hi Essence, we are in elk grove as well and very familiar with the area. With over 13 years Experience in Real estate Our team is always on hand ready to assist in anything you need to get started. If you are still looking for a home in elk grove please feel free to give us a call at 916-947-4312 mention Trulia buyer .


JudyandSam Team
RE/MAX Gold-Laguna
9280 W. Stockton Blvd #110
Elk Grove, CA 95758
... more
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Sat Feb 11, 2012
Erin answered:
Tammy; Adding to some of the great answers already posted, try zip codes 95661 and 95678 in the older neighborhoods of Roseville. You also may want to try West Granite Bay in 95746. Depending upon your price range, there are some older homes available in Granite Bay for around $300,000.

Good luck and happy home hunting.

Erin Phillips
Keller Williams Realty
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Fri Jan 6, 2012
James Tan answered:
Hi Cindy,
I am a broker based in Elk Grove. Your realtor gave you correct information. Elk Grove's mello roos is pretty high. For example, a property in the Stonelake (a very desirable area) which is valued at approx. $280k, the total property taxes (incl mello roos) is approx. $4k+ per year. In the area south of elk grove boulevard and between franklin and bruceville, the mello roos is even higher. In this area a property of around $220k, the total property taxes (incl mello roos) is also in the $4k+ range per year.

Normally in other areas without Mello Roos, property tax is approx. 1.1%+ per year of the assessed value.
Most if not all the newer areas in Elk Grove have mello roos. There may be certain pockets, or newer homes for which the Builder had paid off the mello roos. That is an exception and not the rule.

But, really because of the Mello Roos, Elk Grove has one of the finest school districts in the Greater Sacramento area, with STAR ratings of 8 or 9 out of 10, statewide.

Hope that helps.
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Fri Mar 11, 2011
Sue Archer Reynolds answered:
I'm curious as to whether you've heard from the bank yet? If you anticipate the offer you made is less than what they want, you can hire someone to do a BPO to submit with your offer, or your agent can provide substantiating evidence of how you came up with your valuation

So how did it go?
... more
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Mon Feb 7, 2011
Alan Wells answered:
There is a good chance as long as the appraisal or BPO comes back in that range. Be prepared to wait it out. This can take anywhere from two weeks to two months to get all of that completed. There is nothing short about a short sale. ... more
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Tue May 11, 2010
Anna Boyd answered:
Hi DJ,
Maybe you can share.

I'm sure readers on this board would be interested in the outcome based on your situation.
0 votes 3 answers Share Flag
Wed Feb 17, 2010
Sylvia Barry, MAS,CIPS,SRES answered:
Hi Jack:

Most of the banks I know that do short sales only takes one offer from the agent at a time to evaluate. Mostly the seller (with agent's input) will select the offer with the best chance to be approved and closed to submit to the lender.

The seller (at least if I am the agent) may take a back up offer then or should just keep the rest of the offers just in case the first buyer does not work out.

For my short sales, due to the length of time required to get lender's approval, the buyer often walks out before the short sale is approved. If there is a back up offer, the back up will become primary offer. Otherwise, I will call the agents with other offers back and ask if their buyers are still interested in the property and go from there.

So, maybe you have another chance to get the house. But the best thing is to have you agent keep an eye on the property and let the listing agent know you are still interested just in case something goes wrong with the accepted offer.

Good luck!
Sylvia Barry
Frank Howard Allen Realtors
(415) 717-0293
... more
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Wed Feb 17, 2010
Jane Grant answered:
Liberty: You need to get the advice of a Mortgage planner who can guide you through the process. If you begin now to establish the good habits of a perspective home buyer then before you know it you will be pre-approved. Work on getting your credit scores as high as possible by paying down any credit cards you may have to below 50% of the limit.

Again, a mortgage professional can guide you to get you financial portfolio in shape for borrowing funds for a home loan.

Congratulations on being employed again!
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Wed Aug 5, 2009
Erin answered:
Hi New Buyer: You need to check with your title company. They can pull the tax records. In different areas of Elk Grove if the homes have been built more recently, you can have Mello Roos taxes levied on the home and payable through your property tax bill and the 1.25% base tax depends upon the "assessed value" of the home, not the current market value. You need to perform an investigation for the assessor's parcel number for the particular property you are purchasing.

If and when you purchase the home for $214,000, the home will be reassessed. But don't expect the County to reassess immediately and it may not reassess for $214,000, They are in no hurry to reduce their income. You need to stay on top of them and fill out all of the the forms located on the Sacramento County Assessor's web site for reassessment. Until then, expect to pay the $400 per month in property tax.

If you can't handle that, look for a home without Mello Roos taxes.

I hope you can afford this tax rate, but if not, if you have not yet removed your contingencies, you may be able to cancel your purchase without jeopardizing your deposit. It all depends on the terms and conditions of your particular purchase contract. Your Realtor should be able to help you with this.
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