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Home Buying in Brentwood : Real Estate Advice

  • All137
  • Local Info14
  • Home Buying61
  • Home Selling5
  • Market Conditions3

Activity 93
Wed Mar 30, 2016
John Danilo asked:
We were robbed and consequently evicted in January 2015. We have been homeless since. Please help, nobody will give us the time of day. I have a good job in the city and make more than…
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Wed Mar 30, 2016
Natalie Tkalcich asked:
Wed Mar 23, 2016
Isaiah Y. answered:
I highly recommend contacting Home Loans For All. They can find you a lender(s) that can work with you OR they have lenders/partners that can also get your credit scores up quickly so that your credit isn't hindering your chances of getting approved. We send most of our clients to them. Just do a quick Google search for......Home Loans For All. Hope that helps. ... more
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Mon Mar 21, 2016
EmGhee answered:
Thu Jan 7, 2016
Beenthere answered:
I lived in Disco Bay for 10 years and I can't recommend it for many reasons. One of the reasons is that you count on County Sheriff support which is very lacking. The County looks at Disco Bay as place to get their money and provide little service. Also it's a place that anything can go on there do to code or Sheriff support you will pull teeth to get any assistance. There are so many reasons to list that my personal opinion is be AFRAID... VERY AFRAID of considering moving there. ... more
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Tue Apr 21, 2015
Sheryl Arndt answered:
Hello Zjh917, No they are not tax deductible. Congratulations on your purchase.

Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
Veteran & VA/CalVet Loan Specialist
REO & Short Sale Specialist
Credit Repair At No Cost
ALL Loan Programs Available
22+ Years Experience
BRE# 01140252
NMLS# 297251
760-486-4225
9am till 5pm by phone Monday thru Saturday, Sundays by appt., EMAIL ANYTIME 24/7
Under640FicoScoreLoans@gmail.com or HomeLoans4U@live.com
http://youtu.be/MrygA2_8fAY
http://www.trulia.com/profile/SherylArndt

If my response was helpful, consider clicking Thank, Link or Best Answer.
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Tue Mar 24, 2015
Cecily Tippery answered:
New to Trulia but just saw your question....I live in Discovery Bay, older community with a mix of all types of homes from deep water to golf course, originally a resort community. Based on your inquiry, Brentwood is likely the best fit, closer to shopping and lots of parks throughout the City. Cecily Tippery, BHHS Drysdale Properties 925-634-7820, realestate@Cecily.com ... more
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Thu Jan 15, 2015
Runa Charlie answered:
We have properties for sale in Chicago IL
Multi-Family Home for $40,000.00

THIS PROPERTY IS BEING OFFERED WITH DOWN-PAYMENT AND OWNER FINANCING!
(OR A CASH OFFER OF $17,000.00)


YOU CAN BID FOR AS LOW AS $7,500.00 DOWN-PAYMENT.

>>>HERE ARE THE TERMS
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0 votes 3 answers Share Flag
Thu Jan 15, 2015
Runa Charlie answered:
Hi Shibani we have properties for sale in Chicago IL
Multi-Family Home for $40,000.00

THIS PROPERTY IS BEING OFFERED WITH DOWN-PAYMENT AND OWNER FINANCING!
(OR A CASH OFFER OF $17,000.00)

YOU CAN BID FOR AS LOW AS $7,500.00 DOWN-PAYMENT.

>>>HERE ARE THE TERMS
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Mon Dec 29, 2014
answered:
The offer probably had a loan contingency which would then allow them to do this. Or that is what it sounds like. Yes the loan mod would make them not qualify.
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Mon Nov 17, 2014
Steve answered:
What is the "Brentwood Admin Fine" special assessment tax? It is about $3,500 and listed on a home in Brentwood Park that we are looking to purchase.
0 votes 7 answers Share Flag
Tue Jul 22, 2014
Jelena Petrovic answered:
depends on the loan, but if it is FHA in Texas it's 3.5% of the sales price :)
0 votes 4 answers Share Flag
Mon Jul 7, 2014
Nelson Khan answered:
Summerset is the primary senior community in Brentwood. It features numerous amenities and activities so it easy to get to know your neighbors.

Just a few of the features: Swimming pools, tennis courts, poker, golf(it is located on a golf course!), bingo, bunco, bridge and even Zumba.

If you have any questions about Summerset please give me a call or an email.

925-752-3969
nelsonkhan@gmail.com
... more
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Thu Apr 10, 2014
Jay Taylor answered:
Brentwood is not an unsafe place to be in. I have a friend who has shifted there recently but does not feel that way at all. Hope you feel the same, forget this safety issue and enjoy the beauty of the place. ... more
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Fri Feb 21, 2014
Kim Blodgett answered:
Allow New Home Negotiators to pick you up and deliver you back from your home. New Home Negotiators will escort you to the New Home Community of Your Choice, buy the coffee or lattes and treat you to lunch. Now that's CUSTOMER SERVICE! New Home Negotiators Deliver's RESULTS!

www.newhomenegotiators.com (800) 529-4767 - You're Northern California New Home Connection.
#kimblodgettrealtor #travishill ?

Recommended Communities Mid $300 - High $400
El Sol at Palmilla by William Lyon Homes in Brentwood
Cielo at Palmilla by William Lyon Homes in Brentwood
Trilogy at The Vineyards by Shea Homes in Brentwood
... more
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Wed Jan 22, 2014
Tac Cacciola answered:
that amount in carmel estates is very low considering apples hill and surrounding complexs where is can range into the $300.00
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Wed Nov 27, 2013
Neil Case answered:
Shibani,

Assuming you are referring to Brentwood NorCal. There are many great areas in Brentwood to buy an investment property. AND there are many areas that are, in my opinion, not wise to buy investment property. The factors include; zoning, new construction near some areas, special assessment districts, transportation options and even proximity to agricultural operations that can create pesticide and odor nuisances. If you are not familiar with Brentwood you will definitely want a very well experienced real estate broker to show you around. Be cautious of the agent who tells you "everything" is great. He is probably just wanting to make a sale. But in truth this is true no matter where and what you are wanting to purchase.

But the bottom line is ABSOLUTELY YES! Brentwood can be an excellent investment choice. In addition to being familiar with all the "zones" in Brentwood I also have a very powerful piece of software that can analyze any potential property for investment potential both short term and long term.

If you'd like to know more. I'd be happy to sit down with you and chat. Of course there's no cost or obligation. I'n happy to help you get the info you need to make a sound decision.

Neil Case
Coldwell Banker Guidance Realty
CalBRE #01275034

925-382-7294
... more
0 votes 8 answers Share Flag
Fri Sep 27, 2013
Gene Riemenschneider answered:
There are some very fine local agents here, all of whom can help you get an accurate value of your home. I too am a local agent and would love to help you out. My number is 925-260-4321.

You are wise to get a manual evaluation than using an automated system. I wrote a blog post linked below on the subject a couple of months ago.
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Fri May 17, 2013
The Medford Team answered:
Let me address your comments and questions:

Comment: “The selling agent”
A: I assume by “selling agent” you mean the listing agent (normally, the “selling” agent is the buyer’s agent).

Comment: “has said that in this market with a short sale, that a 30-60 free rent back is completely normal and that we should have no reason for concern.”
A: No, it’s not “normal.” It does occur every once in a while, but it is usually at the behest of the buyer who is trying to provide additional incentives to the seller to win in a bidding war. We currently have 2 normal transactions in escrow where the seller has a 30-day free rent-back after close of escrow, but this is not “normal” for our transactions – these are the first 2 out of over 100 recent transactions.

HOWEVER … in contrast, rent-back in a short sale is typically NOT ALLOWED by the short sale lender. Buyers and sellers must sign (certifying under penalty of perjury) an Affidavit of Arms-Length Transaction which includes the following dialogue:

“There are no agreements, understandings or contracts between the parties that the Borrower will remain in the Mortgaged Premises as a tenant or later obtain title or ownership of the Mortgaged Premises, except to the extent that the Borrower is permitted to remain as a tenant on the Mortgaged Premises for a short term, as is common and customary in the market but no longer than ninety (90) days, in order to facilitate relocation;”

The intent here is that no recipient of a short sale may benefit from the short sale process in any way after the close of escrow. They may not receive funds, gifts or possession in any way that produces a benefit. From where I sit, (1) free rent-back is not customary, especially for short sales AND (2) is most CERTAINLY a benefit, thus violating the intent of the Arms Length Affidavit.

You state: “Our primary concern is that the current verbage provides no legal protection to us in the case that they do not leave, and although we have been told that they intend to, there has been no show of good faith by agreeing to stipulations provided they do not.”
A: This is a real problem with short sales. In a normal sale with a normal rent-back, there should be a rental agreement for the rent-back with states the parameters of the rent-back (duration, per diem, terms, etc.) AND provides a damage deposit held back in escrow or given to the buyer at close of escrow. Upon a successful vacancy, the damage deposit is then given back to the seller. In a short sale, since there is usually no rent-back, there is no way to effectively leverage the seller to leave and ensure the property is in good condition when they do so.

(For more clarification, see Myths #6 & 7 from the following post: Short Sale Myths: 8 CRITICAL Issues You Need To Understand
http://www.trulia.com/blog/carl_medford/2011/05/short_sale_myths_8_critical_factors_you_need_to_understand )

You ask:

Q: Is a 30-60 free rent back actually common in today's market, even in a short sale?
A: See above – NO. It does happen occasionally, but is NOT the norm. And I’ve NEVER heard of free rent-back after the close of a short sale – and we’ve done a ton of them. My belief is that a free rent-back violates the terms of the Arms Length Affidavit and could leave you in a legally compromised situation.

Q: If we were to agree to a 30 day free rent back, is it unreasonable for us to request that stipulations be placed in the purchase agreement requiring the seller to pay our PITI if they fail to vacate the premises after the first 30 days, and after 60 days, should we have to take legal action to have them removed from the home, they would be responsible for all legal fees associated with that if we were to prevail?
A: In reality, this is what a normal rent-back should look like, regardless of the amount being paid per diem. It should also include a substantive damage deposit. These issues are covered by CAR Form PAA (up to 30 day rent-back) or CAR Form RLAS for periods over 30 days. I would never allow rent-back of any kind to occur without one of these forms.
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