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Home Buying in Altadena : Real Estate Advice

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  • Local Info3
  • Home Buying6
  • Home Selling3
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Activity 9
Mon Dec 2, 2013
Kevin and Julie McLaughlin answered:
0 votes 8 answers Share Flag
Thu Nov 7, 2013
The Stephen FitzMaurice Team answered:
Things are changing fast and many are saying 1 year is the max wait time now, but it does depend on your total financial package.
0 votes 10 answers Share Flag
Tue Jul 2, 2013
V Kumar answered:
Each lender has their guidelines on lending their money to buy foreclosed homes.

The two common ways of buying a foreclosed home are through a real estate agent (home that has already been foreclosed) or through a public auction (trustee sale).

There are many factors to consider when buying a foreclosed home compared to a traditional home purchase. REO properties are an affordable housing option, but there are also more things to watch for with this type of home purchase.

If you are house hunting, you may want to consider buying a foreclosed home, also called a real estate owned (REO) property. An REO property is owned by the lender as a result of the previous owner defaulting on the loan. This is also known as a foreclosure property or a bank-owned property.

Negotiating the purchase price of a foreclosed home may take a little longer than a typical real estate transaction because the process may require multiple levels of approval. First, the bank will have to approve the offer. In some cases, an investor may own the property and will have to provide approval as well.

Timing varies by lender.

I wish you all the best and please feel free to reach out to me if you have further questions.

Vinu Kumar
Coldwell Banker Residential Brokerage
Work: 800.846.1619
Mobile: 949.887.2567
Fax: 626.628.1956
Email: emailvinukumar@gmail.com
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Wed Oct 24, 2012
Sarkis Aleksanian answered:
No real restrictions on the number of people on the loan. But the loan would have to make sense with multiple people applying for the loan from the perspective of the lender. The primary question will be which applicants will be occupying the property and if the addition of other applicants disqualifies the purchase as an "owner occupied purchase" or not. ... more
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Mon Jul 16, 2012
Dante Underwood answered:
I would value this with the Altadena address and look at what it would be also with the Pasadena address. You have to look at both sides to be able to have a better understanding of what can happen in this market. Also looking at what schools are available to you will help you identify what to expect when you go to sell the property. Homes in the North part of NY have sold for more than the south but it will also depend on what amenities and things your home has to offer and what homes have sold for in the last 6 months when putting your home on the market. ... more
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Thu Oct 27, 2011
Gilda Anderson answered:
Hello Zinnal.

Look at 970 Lehigh, off of Windsor, just south of Woodbury. It is a 1346 sf, 2 bedroom, 1 bath home with a pool on the market for $259,900. This home is bank owned (a foreclosure).

Before you seriously start looking I cannot emphasize enough tht you need to GET PRE-A PPROVED for a loan. Please let me know if.I can help you. Altadena/Pasadena/LaCanada are areas I specialize in.

Gilda Anderson, GRI
Realtor, Notary Public
Podley Properties
gilda.anderson@podley.com
... more
0 votes 3 answers Share Flag
Sat Aug 13, 2011
Dorene Slavitz answered:
Dear Gayle,
You need a lawyer at this point, if you still want to go after this home. IF you can walk away without a monetary loss...my advice is to do so.
0 votes 6 answers Share Flag
Sun May 23, 2010
Carrie Benuska answered:
Hi Carly! I am an agent in the Altadena/Pasadena area. My mom was a single mom, and I very much respect your desire to own a home. I would be happy to discuss the options with you, and try to get you on the road to home ownership. Feel free to contact me. ... more
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Tue Jun 10, 2008
Sam answered:
Hi Abresson,

The best information I have on crime statistics for that area is in the web reference below. Just enter in 91001 in the zip code and you'll reach the site. Trulia won't allow me to put the entire direct link. The site has a map for different areas of Pasadena and Altadena, including the area East of Fair Oaks you're talking about. So that's the statistical side. On the personal side, I live in that area of Pasadena North of the 210 Freeway and the safety really does change block by block. I'm on a pretty good block so it's not too dangerous for us, but it's still not as safe as an area where there's low crime for miles around.

Regarding Altadena vs. North West Pasadena, it depends on which block you're talking about. You'll probably have to evaluate that question on a house-by-house basis.

We have some friends that live on Sacramento near Lake Ave in Altadena, and police officers have told them it's a high crime area, but they haven't had any problems to my knowledge. My experience is if you don't leave valuables in your car, don't wander around at night, and stay aware of who's around you, you're probably okay.



Sam Pritchard
Keller Williams Realty
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