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Home Buying in Burlingame : Real Estate Advice

  • All52
  • Local Info5
  • Home Buying23
  • Home Selling2
  • Market Conditions3

Activity 24
Sun Jan 4, 2015
Naira Khnkoyan-Your Home Sold Guaranteed answered:
If your Realtor is also the seller’s agent, then it would be unethical to disclose what the other offer is. If your Realtor only represents you, then they would be aware of other offers but not the specifics. Best of luck. ... more
0 votes 18 answers Share Flag
Mon Jul 22, 2013
Matthew Rogers answered:
The official time is 9:30-1:00pm, although specific times are often noted or modified for each property. It is always best to check the tour sheet.
0 votes 5 answers Share Flag
Sun May 12, 2013
Mitchell Lubinsky answered:
Hello, thank you very much for your questions I think I will be able to answer them to help you to handle your situation in a proper way.

The 3% short sale coordinator fee is not normal. More to it, if they call this fee as "lender assistant fee", and they want you to pay for it, than it is may be illegal, because lender assistants will assist your lender with financing for you, not the seller's one.

The banks have nothing to do with the Short Sale Coordinator pay. The Short Sale Coordinator is hired and paid by listing agent, usually out of the earned commissions. The fee is negotiable between listing agent and transaction coordinator, and could be 1% of the sales amount, but again it is paid by the listing agent. In short sale transactions banks/lenders usually pay realtors commissions and, I doubt it very much, that the bank will pay this particular fee in addition to those commissions. The reason for this is very simple: in the short sale bank usually covers all expenses on the seller's behalf and there is no room to cover listing agent expenses,

In terms of 3.5% credit for closing costs to you by seller - yes, it is very possible that the bank will cover that credit to comply with the transaction contractual obligations on behalf of the seller, but it is solely at the bank's discretion.

A good short sale coordinator, or any person in this matter, who knows what is he doing, can definitely speed up the process, but you are not the one who would pay for and control it.

In your situation I would agree to 3.5% seller's credit for closing costs, but object 3% fee to short sale coordinator, and stay out of any negotiations with short sale coordinator.

Being a real estate broker and mortgage lender since 1986 I poses a great deal of experience in short sale transactions and residential lending as well. Please contact me if you have any questions.
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0 votes 6 answers Share Flag
Sun May 12, 2013
Anna M Brocco answered:
Unclear as to which State the transaction took place; either way check with your attorney, he/she can better advise...
0 votes 7 answers Share Flag
Sat Mar 23, 2013
David Tapper answered:
It all depends on who you use. Construction costs have gone up because the materials cost more now. With that said, some contactors on the lessor side are $200-250 per sq ft and some are more than twice that.

A lot also depends on your fnishing work. If you need a referral, feel free to ask.

Cheers.

Tap
www.DavidTapper.com
www.TeamTapper.com
... more
0 votes 1 answer Share Flag
Thu Mar 7, 2013
Gailmail10 answered:
I have lived in Foster City for 24 years and was here when the Loma Prieta earthquake hit. Foster city had very little damage, far less than San Mateo and other surrounding cities. My home had no damage. Foster City land had been dry and protected from the Bay since 1897. Water barriers were built beginning in 1901 and levees were strengthened in 1947, 1960 and 1983. They are considered still in excellent condition today (2013). The surface of the land was raised to 4'-5' elevation in order to create a central drainage basin, a water "impoundment area," resembling a lake or lagoon in the middle of the city which could then be pumped back into the Bay. 14 million cubic yards of sand were pumped up from SF Bay and deposited onto Brewer's Island (Foster City's former name). There is no better fill than sand as it compacts easily and, when compacted, is structurally sound. Each layer was compacted separately squeezing the water out and then the water was pumped away. Because the fill was compacted when it was placed on the surface, the future settlement was of the mud and was a result of the weight of the compacted fill. Liquifaction is a phenomenon when loose wet sand is shaken by an earthquake in such a way that the sand sinks and the water comes to the top. Liquifaction is not possible with compacted sand since there is no water in it to rise to the top. In conclusion, I believe it is extremely safe to live in Foster City as I have for 24 years and plan on continuing to do so for many more years. To read the complete history of the creation of Foster City, read The Development of Foster City by T. Jack Foster, Jr. on sale at Google Books and Amazon Books. ... more
0 votes 3 answers Share Flag
Tue Aug 21, 2012
Annabelle Canlas answered:
Patti,

I would love to be of service to you. My office is in downtown burlingame.
0 votes 3 answers Share Flag
Tue Aug 21, 2012
Herb Schmulewicz answered:
I'm not sure there is a straight forward answer here, without understanding more detail. I'd like to understand a little more about your situation and why you think a short sale is a good solution for you. There may be other options to explore, but without having interactive dialog, it is a little difficult. Really, there may be other options and I would explore all options prior to making any decision on direction. ... more
0 votes 7 answers Share Flag
Fri Jun 29, 2012
Centermac Realty answered:
If anything, it would strictly be an ethics issue and not a legal one.

Since the seller's agent does not have a relationship with you, it would be hard to make a case for breach of contract.

I'm not aware of any law that says a listing agent owes you a duty not to communicate your offer to a third party. However, in some circumstances, if he did say so intentionally to interfere with your lease with your landlord, then you may have a claim for intentional interference with contract claim coming. But this is rather unusual. In normal circumstances, this just doesn't happen.
... more
0 votes 10 answers Share Flag
Fri May 27, 2011
Ton Dang answered:
Homes in San Mateo County can be quite expensive. There are a myriad of reasons as to why that is so. One reason I’d like to offer is to consider the alternatives – such as the East Bay or even the Outer Bay Area. Many of these folks pay the extra fee of tolls; and lost time sitting through traffic. Perhaps the extra cost of staying in SMC is worth the while. ... more
0 votes 6 answers Share Flag
Tue Jan 4, 2011
Dallas Texas answered:
Virtual opinion DOES not work on our behalf. Refer to a contractor. It will require city approval and permits.

Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
972-699-9111
http://www.lynn911.com
... more
0 votes 3 answers Share Flag
Sun Apr 18, 2010
Kent Gagon answered:
Brasil2
The choice is yours, unfortunately it is harder and there are more stipulations/contingencies on an FHA loan than a conventional loan which is probably why they took the other offer. If you were madly in love with the home wait it out and see what happens, if you were not, keep looking... you will find someone that will accept your FHA financing, as it is a huge part of most markets today. I hope this helps best of luck. Always consult your own Realtor for the best advice, or a licensed lawyer for legal advice.
Best regards
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0 votes 2 answers Share Flag
Tue Feb 9, 2010
Hannah Fliegel answered:
Hi H

The Bay Area Market is going to continue to correct and we will hit bottom when we return to the pre-bubble price range which would be the price ranges in the 1999-2001 price range. What will be for sure in 2010 is that housing is going to be based on earned income. Right now there is too much debt and over leveraged property coming to the market and this is going to cause a decline in values. There are pockets where the market will not "tank" such as established neighborhoods in Morgage, Piedmont, Tiburon and San Jose because the "exotic" sexy loans were not used to acquire property and over leveraged . These borrowers will pay their mortgage obligations and these pockets are unpredictable unless you can go street by street to see the financing and how much is owed and what sector of the economy the borrower works. If they work in the confections or alcohol industry they are probably doing fine. The rub you may be looking at is that as interest rates rise and lending gets tighter you might get a better price on the property but you are also paying a higher interest rate for that property. Either way, if you buy the right property, with the right financing now or in the 12-18 months you will probably do quite well. The long term financing will be just as valuable as a home to hedge against inflation which I expect to see in the coming years. I do not expect to see interest rates about 8% until 2012. Good luck! ... more
1 vote 8 answers Share Flag
Fri Oct 23, 2009
Dan Chase answered:
I have seen where senators have bought land knowing they would put a highway in and greatly increase the land in a short time. The buyer did not disclose this to the seller. So why would a seller disclose something similar to the buyer?

To be blunt. A road, a highway, a sewer project, an airport are NOT part of the property. If it is not done yet but only proposed it might not happen. Change happens. If a seller disclosed something unpleasant that *might* (or might not) happen in the future that devalues the value of their property would it make sense?

Due to a down economy many projects that should have been done years ago have been put on hold. They may never actually be done. Would you report something that may or may not happen? Add the fact that you do not pay attention to such things and you see the problem in asking about this area.
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0 votes 5 answers Share Flag
Tue Sep 1, 2009
The Laugesen Team answered:
Sharon

Both neighborhoods are great, safe and share the same award winnning schools, Ray Park typically has smaller lots and is a newer developed area, , when getting data on sales prices, Easton addition sales will reflect a higher sales price. If you look at brand new homes that have been built, same square footage and bedroom count, Easton addition always gets a higher sales price. I know, I built a home in Ray Park and have built homes in Easton Addition, the sales price of the home I built in Ray Park was around 100,000 to 150,000 less than what the home would have sold for in Easton Addition,. . The neighborhoods feel different, Easton Addition has more charm and has been considered more desirable by buyers. You get more for your money in Ray Park, all depends on what is important to you.

Good luck to you, if you want any further information, feel free to contact me anytime.

Denise Laugesen

Cashin Company
#1 Top Producing Agent

Direct Line: 650-403-5225
Cell 650-465-5742
Web: www.deniselaugesenteam.com
... more
2 votes 3 answers Share Flag
Sun Aug 30, 2009
The Laugesen Team answered:
Hello there, I would ask the realtor for the names and phone numbers of the last 5 clients they closed a contract with, call them and ask how the agent performed for them, let them know you are thinking of hiring this person. Those clients will spill the beans if they are not happy.!!!

For information about properties that are on the market or coming on the market in Burlingame, Hillsborough and surrounding areas. Give the Denise Laugesen Team a call, we will provide you with our client list!!! Our clients always walk away feeling well represented!!! Let us make your dream home a reality!
... more
2 votes 8 answers Share Flag
Tue Jun 9, 2009
Voices Member answered:
Thanks, I hope it all goes well, let us know how the process you choose works for you. No better way for us to learn or look into new information.

Once again, Good hunting,
0 votes 7 answers Share Flag
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