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Home Buying in 95758 : Real Estate Advice

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  • Local Info0
  • Home Buying20
  • Home Selling1
  • Market Conditions2

Activity 17
Derek Jones, Real Estate Pro in Fair Oaks, CA
Mon Apr 11, 2016
Derek Jones answered:
It depends on what your definition of cosmetic repair is and how big your standard home is. Some area's your standard home is 2000 sq-ft while others the standard home is 1000 sq-ft. Some investors calculate rehab cost as anywhere from $20-$40 per sq-ft of the home. ... more
0 votes 1 answer Share Flag
Anna Chi Hua…, Real Estate Pro in Elk Grove, CA
Tue Aug 13, 2013
Anna Chi Huang answered:
First of all, I would say if you don't have any investment experience as a landlord it is best to buy properties without a tenant, this is only if you want to purchase a primary residence to begin with, if so you will be need to prepare yourself for ongoing repairs, and possible miss payments, etc that a landlord will anticipate. If you don't want to manage a property yourself, you can always hire a reputable management company to help you coordinate the property monthly. ... more
0 votes 9 answers Share Flag
jujai9, Home Buyer in 95758
Tue Nov 20, 2012
jujai9 answered:
Thanks Sue and Jim. I appreciately your speedy answers. I was thinking of taking legal action as well but I wasn't sure. Now, I can proceed with getting my hard earned money back. First with a formal letter, then small claims if it doesn't work out

The loan officer admitted that it was a mistake on the phone. He preferred to speak over the matter on the phone. If he replied in an email, it could be used as evidence of his wrong doing.
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0 votes 3 answers Share Flag
Jim Walker, Real Estate Pro in Carmichael, CA
Mon Nov 19, 2012
Jim Walker answered:
experienced Agents in the Sacramento Area that are good at negotiations?

Well of course.. We are like the children of Lake Woebegone, Wisconsin that are ALL above average. (Prarie Home Companion reference);; We are ALL good at negotiations! ... more
0 votes 4 answers Share Flag
Brenda Koster,  in
Fri Sep 21, 2012
Brenda Koster answered:
As you can see there are many varied and different answers to your question based on each agent/lenders experience and or requirements. Of these answers, they all have excellent information for you to move forward. The BEST answer, once you have put all of your information together based on all of the knowledge gained through this post, truly, is ask your lender. I wish you much success in your house hunting/buying in this very difficult market right now. ... more
0 votes 8 answers Share Flag
Debra (Debbi…, Real Estate Pro in Livingston, NJ
Sun Jul 15, 2012
Debra (Debbie) Rose answered:
spa, as in jetted tub - part of the bathroom, or as in separate hot tub - inside or out?

In any case - make sure it's in proper working order, and that the tenants are responsible for any damage done, or repairs needed, if it is misused...maybe also make sure they hold you harmless for any injuries sustained while using it, and they are responsible for any maintenance/upkeep required while in use.

Our leases usually have the tenants repsonsible for repairs up to $100 each occurance........ this may not be typical in your area, so check with a local agent
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0 votes 1 answer Share Flag
James Tan, Real Estate Pro in elk grove, CA
Wed Feb 8, 2012
James Tan answered:
Jerry,
I agree with Tina and Ron. If you have "Buyer's Remorse" and you no longer believe it is a good investment, your best option is to get out.
Unless you find some serious issue with the property, (e.g. structural damage - in which case you do not want it anyway), you probably will not be able to get seller to reduce by 15%. Just cancel the deal during the 7 days inspection period. Usually, the seller will let you have your earnest money back. Next time, you may wish to contact a good realtor, who will do the research and due diligence for you. ... more
0 votes 5 answers Share Flag
Aznen4cer, Home Buyer in 95758
Tue Mar 29, 2011
Aznen4cer answered:
Greetings everyone,

Thank you for all your advice and input. This community is truly helpful and I really appreciate it. I will be staying with my current agent (as I have no choice) but I will make sure they are well prepared for all possible scenarios. Negotiations will take place and failure to bargain at least upgrades will not be accepted. Wish me luck, I'm going in tomorrow and if all goes well, I'll sign a contract and own my first home!!

Thanks again everyone.

Best Regards,
... more
1 vote 11 answers Share Flag
Jim Walker, Real Estate Pro in Carmichael, CA
Mon Oct 12, 2009
Jim Walker answered:
Almost $12,000?

... My calculator coughed up $12,880 as the minimum FHA down pay on $368K and $13,125 as the minimum down pay on.

If you put down a $1,000 deposit when you wrote the offer. - That would have been part of the $12,880. Leaving you to pay an additional $11,880 at the close of escrow.

More on commission. Probably Not. In residential sales the seller pays the entire commission to both his own agent and to the buyers agent, almost always.

Buyers have other closing costs that buyers must pay OR get someone else to pay them. That sounds lke that is what the 3% from sellers most likely was to pay your loan origination fee, loan processing fee, loan underwriting fee. Any other loan fees. You may have gotten closing statement credit back out of the 3% for your appraisal, credit bureau report and home inspection. The 3% may have paid for some recording fees, some escrow fee, notary fee, Title insurance fee.

You also had to pay for a years insurance policy upfront and put something aside for the property taxes.

Clearly closing costs can be be as high as a down payment.
Many consumers, especially first time buyers, do not realize this.
Even repeat buyers forget how many and how much is put out in fees.
Although house prices have dropped drastically, fees and prepaid expenses such as insurance have not.

Oh,
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0 votes 5 answers Share Flag
The Laugesen…, Real Estate Pro in Burlingame, CA
Wed Sep 30, 2009
The Laugesen Team answered:
Hi Christina
Great question you asked and some really top notch advise from all the agents. I personally like to purchase a property that has deferred maintenance and needs cosmetic work, because how many times do you like a home but know you want to replace the carpet with something more your taste or will plan on repainting a home that the existing paint is in good condition however it is not your color. You are not in a position to negotiate down the price when a home is delivered to you fresh. This can be a wonderful opportunity to adjust the sales price for the many repairs you will make and this home will be end up finished in your taste and working with your pocket book. Appears to be a win, win for you. As the prior agent suggested, get all of your inspections done, another negotiating tool in this real estate market.
Good Luck to you and if you have any further questions, please feel free to contact me.
Best to you,

Denise Laugesen
#l Producing Agent
Cashin Company
Direct Line: 650-403-6225
Web: www.deniselaugesenteam.com
Email: deniselaugesen@comcast.net
DRE 01011089
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0 votes 10 answers Share Flag
Elyse Metune, Real Estate Pro in Sacramento, CA
Sat Aug 29, 2009
Elyse Metune answered:
Aurora

I bet you are working on geting your Property taxes lowered.

Price Address Zip D o M Sold Date Bd/Ba Sq ft Price per Sq ft
$149,000 9598 Coney Island Cir #92 10758 26/209 03/19/09 2 2 (2 0) 1076 138.48
$155,000 9613 Coney Island Cir #104 10758 0/317 02/26/09 2 2 (2 0) 1402 110.56
$172,000 2882 Brighton Beach Way #44 10758 167/167 03/19/09 2 2 (2 0) 1402 122.68
$176,000 9559 Coney Island Cir 10758 Sold 48/48 02/13/09 3 2 (2 0) 1400 125.71

Hope this helps. Call me @ 524-8630 if you have questions.
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0 votes 1 answer Share Flag
Tim Hobbs,  in Sacramento County, CA
Fri Aug 21, 2009
Tim Hobbs answered:
Nice and safe are subjective and you will have to do some research to answer that for yourself. Crime statistics are readily available on the web and you can compare the area you are living to the new location.

If you have the parcel number you can look up the tax info on the assessors web site or you can call them with the address. If the property in question is listed on the MLS your agent will be able to tell you..

Good luck!
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0 votes 1 answer Share Flag
Uncle Steves…,  in Sacramento County, CA
Sat Feb 28, 2009
Uncle Steves sells homes answered:
Contact a realtor and tell them what you are looking for. Realtors will know what is available.
0 votes 7 answers Share Flag
Uncle Steves…,  in Sacramento County, CA
Sat Feb 28, 2009
Uncle Steves sells homes answered:
The new laws have changed the playing field for loan companies. When a lender takes a loan application they have to have GFE estimate within 3 days. Signing it acknowledges this took place. You can still change lenders.
I
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0 votes 14 answers Share Flag
Uncle Steves…,  in Sacramento County, CA
Fri Dec 12, 2008
Uncle Steves sells homes answered:
The simple answer is to protect yourself from liability or loss. In other states they use Real Estate attorneys.
All Real Estate transactions can become complex. The seller pays the commission so if your buying, why not use a realtor? ... more
0 votes 6 answers Share Flag
Erin,  in South Lake Tahoe, CA
Fri Nov 14, 2008
Erin answered:
Hi Inis: You can go to the County Assessor's website, plug in a specific address and you will get the specific information you desire. Their web site is found at http://www.assessor.saccounty.net/default.htm

Good luck
... more
0 votes 1 answer Share Flag
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