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Cypress : Real Estate Advice

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Activity 43
Thu Feb 23, 2017
Aaa5aa answered:
The house could be one of which is up for auction, in which you would have to have cashiers checks to pay, if you are the highest bidder.

If the REO is still listed, you would have needed to pre-quailify to determine your amount of affordability.

In most cases, the bank owning the REO will give you allowences off of the asking price for repairs. If you have ever seen foreclosed home pictures you would know the house is usually destroyed by the former owners. A/C units can be missing water heaters, and built in appliances gone.

If you check the local online tax or real estate records using the address of the property, you'll determine the current owner. If it's a bank call, and ask for the REO department. They will give you the status of the property.
If the property still shows an individuals name check that name online at the Register of Deeds website. The name will show the current lender .
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0 votes 13 answers Share Flag
Thu Sep 8, 2016
Mary Bennett answered:
I am in the same boat at this time. We moved here from Nebraska, where I obtained my Housing Choice Voucher (Section 8, Housing etc) so I (ported) here and arrived on August 1st as everything was completed in NE. It has been rough to say the least. I had saved $9,000 for this trip and to relocate, and within this month, the funds have depleted, just from having somewhere to stay while I search for a place to rent. (I am 50 years old, have moved several times throughout my life, but have never had an experience like this).
It is myself, my mom, my 17 year old son, and my 11 year old daughter. He's a senior this year and my daughter is in 6th grade. My mom has been at Walmart for 17 years, and I am the Assistant Manager for Dollar Tree. So, we are employed full time, we both have a vehicle, I have my voucher, which is guaranteed money towards the rental amount of a unit, then we pay ours each month. However, here we are still, residing (temporarily) in a weekly motel. It is not in our targeted area, or where I'm looking to live, however it was the best deal at this point, after spending the last month in a room (paying $492.80 A WEEK).
I also haven't been back here (where I'm from) in 20 years, and a lot has changed. There's alot of homelessness & not so great areas, due to drug use and unemployed etc.
However, I will remain positive, and keep searching (it's been a full time job in itself) lol.
We are extremely clean, have integrity, reliable, pay our bills, hard working, and very good tenants and people.
I wish you the best. If you want more information, please let me know, I'd be glad to help, saving you some aggravation if possible.
On the other hand, if anyone has any useful information for me, or knows any places or resources that I may have overlooked, I welcome them and would greatly appreciate them all.
Thanks
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0 votes 1 answer Share Flag
Wed Oct 7, 2015
answered:
You sound like a very intelligent and organized person.

I happen to own a mortgage company and I sell houses here in the area. If anyone can get you into a house I can.

I did the math and assumed t hat the $400 was food and insurance and did not count it in the ratios.

With and FHA loan assuming it had to be a condo and that there would be a $300 a month association fee the amount of loan you can get is only $150,000 (that is stretching it.) Then I looked up properties in Orange County and there are no properties accept senior only properties (Laguna Woods etc.)

There are no houses or condos that you qualify for available for sale In Orange County I do not recommend mobile homes. There are one or two condos in Long Beach that may be suitable.

So it sounds like you have a college degree (you have student loans). And it sounds like you two are earning min wage. So I would have to say the best thing you could do is to look for better employment.

In the mean while give me a call if you would like to consider the condos in Long Beach, they are near the ocean, and in reasonable areas. Long Beach also has a great down payment assistance program.

My phone number is 714-968-2500
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0 votes 2 answers Share Flag
Tue Jun 2, 2015
Alex Montelongo Real Estate Group answered:
There are California Blue Ribbon schools in Long Beach too. They are ranked 9's and 10's. There are some really nice areas of LB. You should consider that as well.

All the best,


Alex Montelongo/Broker
Coldwell Banker Star Realty
562-810-7387 Cell
BRE Lic #01456982
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0 votes 5 answers Share Flag
Fri Mar 6, 2015
Quizzer asked:
Hi,

Does anybody have first or second hand experience with Arnold elementary school in Cypress?

I see the API is 887 and great school rating of 8/10.

Just wanted to know some real…
0 votes 0 Answers Share Flag
Sun Feb 22, 2015
Karen McEniry answered:
Hi Frank,
You would probably be better off selling the manufactured home and finding another one where the space rent is lower. Call me if you'd like to discuss further. I can send you what is available on the MLS and give you an idea what your home might be worth.
You can also look on the website: mhvillage.com to see what other mobile homes are for sale in the area. It has most of the mobile homes for sale in the area.

Best Regards,
Karen McEniry, Realtor, SFR, SRES
Coldwell Banker Beachside, Realtors
karen@karenmceniry.com
(714) 343-9470
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0 votes 5 answers Share Flag
Sun Feb 22, 2015
Karen McEniry answered:
You can probably qualify, depending on other factors that only a lender can answer for you. Call me if you would like referrals to some good lenders to check with.

Best Regards,
Karen McEniry, Realtor, SFR, SRES
Coldwell Banker Beachside, Realtors
karen@karenmceniry.com
(714) 343-9470
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0 votes 3 answers Share Flag
Thu Jun 26, 2014
Kawain Payne answered:
This is an old question, BUT I just had this happen on a property this month (June 2014)


Kawain Payne, Realtor
0 votes 15 answers Share Flag
Thu Jun 26, 2014
Kawain Payne answered:
No Not EVER!!!!!


Kawain Payne, Realtor
0 votes 15 answers Share Flag
Tue Jun 3, 2014
answered:
Not really, you will have vesting and title problems. Or I should say no commercial lender will do it. A private lender can do what they want. But I doubt that they would .

If you hare having qualifying problems click on my picture and contact me for a free no obligation consultation. ... more
0 votes 6 answers Share Flag
Wed Apr 16, 2014
Alex Montelongo Real Estate Group answered:
I like the Tanglewood development. It is close to shopping, great schools and freeways. The property grounds are well cared for and the neighborhood is very desirable. These townhomes range from 2 bed 1 baths to 4 bed 3 baths. Call me if you are still in the market and I will gladly take you on a tour of the properties available in that development.

Alex Montelongo/Broker
Coldwell Banker Star Realty
562-810-737 Cell
BRE Lic #01456982
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0 votes 5 answers Share Flag
Fri Mar 28, 2014
Alex Montelongo Real Estate Group answered:
That is a great question. It looks from the answers you've already received that the majority of banks will require you to wait at least six months. Although there seem to be some that will loan sooner. Banks have been changing the guidelines quite often in the past several years. I think I will ask my preferred lender to get the answer myself.

Best of luck.
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0 votes 9 answers Share Flag
Fri Mar 28, 2014
Alex Montelongo Real Estate Group answered:
Even though this posting is several years old... Im going to chime in anyways. Each market is unique. Each market is affected differently. Every market was affected by the decline in values, some more than others. We are currently on the upswing. Last year the US had hundreds of thousands of homeowners that finally came out from being underwater on their mortgages/loans. They are now in positive equity positions. If you've been trying to time the market since the 90's, then you really lost out. I am not sure that you'll ever be ready to buy. Properties have increased in value significantly in the past two decades. You've got to be in it for the long haul in order to see the real value in home ownership. You could have had your home more than halfway paid off by now, written off so much of the interest over the years and accrued as much as double the value in equity.

Best of luck.
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0 votes 17 answers Share Flag
Fri Mar 28, 2014
Alex Montelongo Real Estate Group answered:
I like the statement before mine. You left out a detail. How much is your client offering? If they are not being competitive then how can they expect to be in the running. This posting is a year old, the market has changed since then. Property is still moving but it is not appreciating as quickly as it did last year. I hope that you were able to secure something for your client.

All the best.
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0 votes 16 answers Share Flag
Fri Mar 28, 2014
Alex Montelongo Real Estate Group answered:
There is not enough information here to go by. Keep in mind a landlord can charge a different amount for a different unit. Especially depending on the location, condition or market conditions.

Best of luck.
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0 votes 2 answers Share Flag
Fri Mar 28, 2014
Alex Montelongo Real Estate Group answered:
As of March 28, 2014 That property is Active at $339,900 with a monthly HOA of $330.Completely remodeled, it looks like a nice piece of property. Please give me a call if you are still in the market.

Alex Montelongo/Broker
Coldwell Banker Star Realty
562-810-7387 Cell
BRE Lic #01456982
... more
0 votes 9 answers Share Flag
Thu Mar 27, 2014
Alex Montelongo Real Estate Group answered:
How's it going Hector? The market has changed a little since your post. Yes, there are still cash offers being made but fewer. As someone mentioned in an earlier post, some cash investors do the ol switch a roo on sellers... What I mean by that it they always say that it is all cash and somewhere down the road they change the terms to add financing of some sort. The seller usually has no choice but to continue to move forward because at this point they are invested. This is what's going on in most cases.
Don't fret, if you are working with a hard working Realtor, I am sure that you will secure something eventually. Hang in there and keep trying.

All the best,

Alex Montelongo/Broker
Coldwell Banker Star Realty
562-810-7387 Cell
BRE Lic #01456982
... more
0 votes 11 answers Share Flag
Mon Sep 23, 2013
Tim Moore answered:
These are more a dream fro those that can't get a loan. They hardly exist at all and to think you can pick and choose what you want shows you don't understand how very rare they are if they exist at all. ... more
0 votes 1 answer Share Flag
Fri Jul 12, 2013
Lori Hanson answered:
If the price per square foot of the space has gone down then of course they are going to advertise it for the current market rate. That would be like saying the pound of ground beef you bought last week for $4.50 a pound is now going for $3.75 so they can't advertise it for less because you paid more. ... more
0 votes 1 answer Share Flag
Tue May 21, 2013
Laura Coffey answered:
http://www.meganslaw.ca.gov/ go this web-site and see for yourself. Your verification is best.
0 votes 1 answer Share Flag
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