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Home Buying in Boulder Creek : Real Estate Advice

  • All21
  • Local Info1
  • Home Buying4
  • Home Selling1
  • Market Conditions2

Activity 8
Fri Jan 8, 2016
Arpad Racz answered:

Is it a level lot or hillside? I can put you in touch with a builder if you like.
You can email me directly from my profile.

Kind regards,

0 votes 1 answer Share Flag
Thu Jan 10, 2013
Lance King answered:
Steve has given a great answer. I would say it's waste of money. And if you are planning to buy a foreclosure at auction be forewarned:

1. you will need all cash
2. you will be going up against veteran investors
3. you won't be able to do inspections
4. you could have issues with clear title

this process is not for the faint of heart or wallet

Best Regards,

Lance King/Owner-Managing Broker
DRE# 01384425
... more
0 votes 4 answers Share Flag
Mon Jun 14, 2010
Molly Thompson answered:
The deposit in Santa Cruz County varies from 1% to 3%- IF you want your offer to be seen as stronger, it should be on the high end. With REO's it should be on the high end. With Short Sales, it should be on the low end BUt it should go in when seller accepts and NOT wait until bank approves, so it looks stronger to the bank. You could also have initial 1%, increasing to 3% after you finish inspections and remove contingencies...And, that should have been spelled out in the offer that was accepted. IF it was an REO, the bank Addendum may have included the requirement. A good agent should be able to explain their strategy for helping your offer get a positive response.
Molly Thompson, Broker Associate, APR
(former Broker/Owner at Network Alliance, BC)
... more
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Fri Jun 4, 2010
Molly Thompson answered:
I'm a Broker who used to own a Real estate office in BC and I've done REO sales for years- I live in one now! You need your own agent to protect you, however, it is common for bank to require that they pick the title company and to require "proof of funds"- but just enough to close escrow. I assume it's cash only because of a county issue: talk to the county so you really understand what they expect to resolve the problem! Yes, it is in the standard contract that you give them a copy of your inspections. IF you want an opportunity to renegotiate the price when you know all the facts about the property, you do it as part of giving them the reports when you Release your contingencies.
Best of luck! It's a process that's risky and could entail great rewards if properly handled!

Molly Thompson, Broker Associate, APR
... more
0 votes 3 answers Share Flag
Tue May 18, 2010
Arturo Shivers answered:
Banks don't insure loans. GSE's insure loans for securitization as the other agent indicated (FHA, Fannie Mae or Freddie). Are you trying to short sale? If you are wondering about HAFA and whether your 1st lien is eligible for short sale preapproval, you should check with your lender. To my knowledge, the GSE's haven't implemented any HAFA short sale program. Essentially, that would mean to sell, you would have to jump through the nightmarish hoops that home sellers jumped through a year ago or so; the hurry up and wait treatment.

If you would like to give me a call, I would be have to meet with you to discuss getting your home sold.

Arturo C. Shivers, REALTOR, SFR
CA Lic. #01779941
760 Camino Ramon, Suite 200
Danville, CA 94526
Office: (925) 855-8333 Ext. 272
... more
0 votes 2 answers Share Flag
Tue May 18, 2010
Sandy Carroll answered:
If escrow doesn't have your deposit check, then in most cases the seller will not pursue damages.

If you have not yet had the physical inspection, usually you can find enough things to make the seller decide they won't make repairs, and you can stop the contract by not accepting the physical condition. ... more
1 vote 5 answers Share Flag
Wed Apr 16, 2008
M.C. Dwyer answered:
Hi Eileen,
Great question! Currently, some of the best bargains are bank-owned homes, but my advice is to also consider regular sellers who must sell for some reason (job relocation, financial distres, divorce, death...). The quality homes in the under $400,000 price range sell quickly, because right now many people are looking for a bargain. The last such home got multiple offers within days, so you would do well to work with an agent who is aware of upcoming listings in this area and who can help you recognize value and quality. I live and work here in Boulder Creek, and agree with Curt that you'll want to work with someone familiar with the complexities of rural properties (septic systems, water sources, property boundaries, etc.) as well as the variety of construction quality in our housing, not to mention the subtle differences in neighborhoods. Feel free to contact me with any questions! Best wishes, M.C. ... more
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