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Danville : Real Estate Advice

  • All158
  • Local Info9
  • Home Buying73
  • Home Selling5
  • Market Conditions8

Activity 150
Fri Dec 6, 2013
Tracy Parker answered:
Brandon, I hope you contacted a property Management firm by now and had them run "hard" numbers for you so you know the anticipated rental income for your home, the fee's for management and monthly reserve set aside for maintenance so you can evaluate if you will have a positive cash flow every month or not. Also, contact a good accountant to check the impact on your Federal and California Income Taxes. You should also have a clear idea of the anticipated increase of prices for homes in your neighborhood in Franklin for the next year AND the next 5 years. Having a local agent do a Comparative Market Analysis (CMA) will give you valuable information. Only then can you make an informed financial decision whether it is best to rent or sell your home in Franklin.

With this information in hand your next step would be to evaluate the "affordable" areas in the Bay Area, including Concord (with careful consideration of work/commute variables) and do a Rent vs Buy evaluations. A experienced local Realtor will help you with these calculations.

The important element to keep in mind is your ability to get a new loan. Lending guidelines are continually changing and currently the focus is on debt ratios rather than credit scores. Keeping your house in Franklin would impact this ratio. Interest rates are creeping up which also impacts your ability to purchase a new home in the Bay Area.

If you really want to own a home in the Bay Area waiting could make it harder or impossible in the future. Something to think about.

Please feel free to contact me to discuss these points in depth if you are still undecided on what is the best decision to meet your goals.

Tracy Parker | 925 389 0645
Prudential California Realty
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Wed Oct 9, 2013
Brian Nguyen answered:
Hi there Brandon, Have you been pre-qualified for a loan in California? I am a California lender and I have done plenty of loans throughout the state including FHA, Conventional, VA, etc. I would be glad to speak with you to help you get the loan that you need. Well I hope this helps! If you have any other questions or if you would like a loan, feel free to contact me. Good Luck! Brian Nguyen Sr. Mortgage Banker NMLS # 659743 Phone: 949.667.2887 brian.nguyen@nafinc.com ... more
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Sun Aug 11, 2013
Douglas Lagos answered:
I have been an investor and owned rental properties. I am also a realtor. That said, if you have only $200 cash flow each month, that's less than 1% return on your money.
Best to put your money in a bank or under the mattress. Not worth the future headaches of being a landlord. And, God forbid anything breaks in the house, or the tenant doesn't pay 1 month. You lost your yearly profit!

Contact a local realtor that specializes in income properties. They are your best bet against making a bad real estate decision.
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Tue Aug 6, 2013
Lance King answered:
The short answer is, no. No party can unilaterally change a contract and have it be binding without all parties agreeing in writing. The proper way to do this would have been to draft an addendum changing the terms and all parties sign or initial. A second, less acceptable (to me) method would be to have all parties initial the changes.

What I don't understand is how escrow closed without you addressing this first. You should have received an estimated closing statement that showed the credit from the seller. You say the document was changed but you didn't say whether you got the money or not. Please let us know.
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Fri Jun 21, 2013
Cindy Davis answered:
sounds very iffy to me...during escrow...the buyer will need to get into the place...trying to squeeze a few bucks out of a rental doesn't sound smart.
0 votes 1 answer Share Flag
Fri Jun 21, 2013
Darren Wilford answered:
The listing agent is in violation of the MLS and DRE as well as DRE Code of Ethics. Turn them in to the local board and DRE.
0 votes 33 answers Share Flag
Sat Jun 15, 2013
Ruth and Perry Mistry answered:
Hi Pink

Start with www.crimereports.com

Meganslaw.gov

And the Danville Police department.

You should be then totally in the know on Crime.

Perry
0 votes 4 answers Share Flag
Sat Jun 15, 2013
Steven Ornellas answered:
Hi debbie-julia,

Most homes built before 1978 will contain asbestos materials in varying percentage levels both inside and outside the structure. While many people recognize "popcorn" ceilings may contain asbestos you should also know outdoors asbestos was used in roofing and siding. Indoors, it was also used in floor/ceiling tiles, putties, caulks, paints, cements, plasters, and pipe insulations.

Confirmation and percentage level of asbestos can only be assured via sample testing, which is not part of a standard property inspection. I do not know when your inspection contingency will expire; however, you should confirm whether the roof tile do in fact contain asbestos and at what concentration. You will be happy to know http://www.kellco.com is a local asbestos testing lab where you can get "same-day" results. Clients of mine drove a sample to the lab and received the results in less than 3 hours; charge was $35. Test results showed a 2% asbestos concentration (The Federal Clean Air Act of 1970 gave the EPA authority to regulate material containing more than 1% asbestos fibers.)

While there's no law preventing an owner from removing asbestos themselves that I am aware of (the homeowner must still follow the Rules & Regulations of the Dept. of Environmental Quality for disposal) there is legal exposure of not disposing of asbestos properly. The more important consideration is your own potential asbestos exposure "doing it yourself", which I would not do.

Be aware professional removal is costly and often seen as the solution of last resort. Here's a link for finding certified professionals to remove the roof so you can obtain a quote, if needed:
http://www.dir.ca.gov/databases/doshacru/acruList.asp

For more info see:
http://www.epa.gov/asbestos/
http://www.cpsc.gov/cpscpub/pubs/453.html
http://en.wikipedia.org/wiki/Asbestos
http://www.ehso.com/cssasbestos/asbestoscalifornia.htm

-Steve
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Wed Jun 5, 2013
Christine and Raymon Ayroso answered:
Kim,
We will just assume that the money is held in escrow account with a title company. Given where the market is, you should be able to exit gracefully here. Your agent should have kept in place a number of escape clauses for you to back out legitimately. One of this would be the bank going over the time you committed to wait for the approval (in the short sale addendum mentioned in a previous post). Escrow will only release funds if both selling and buying party agrees, so if you decide to pull out prematurely, the seller can refuse to allow escrow to release the funds. Our suggestion is to wait out the time commitment you made and if the bank goes over, you are free to pull out with the deposit. If you really want out of the deal, just wait for the bank to reply. Most of the time, the bank will want something else added or taken off your offer, and when that happens, that is TECHNICALLY A COUNTER, and you can get out of the deal at the time. You are only stuck if the bank approves your offer as submitted (very very rare), and even so, you should still have inspection and other contingencies to get you out of it.
Good luck!
-Raymon and Christine
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Tue May 28, 2013
Joy Elliott answered:
Wed May 15, 2013
Keith Jean-Pierre answered:
I would suggest you try the regular rental sites:

http://www.craigslist.com
http://www.apartments.com
http://www.trulia.com (Rentals Section)
http://www.zillow.com (Rentals Section)
http://www.realtor.com (Rentals Section)

Between all of those, you will get a very clear picture if you can find what you are looking for. Good luck!
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0 votes 1 answer Share Flag
Sat Apr 13, 2013
Mary Ann Cadorna answered:
Hi Gigi,

There are currently 26 homes under one million dollars in Danville, the most that l've seen in the last couple of years. If an agent has such a home, they should be able to call you right away and provide it. However, if not, it may take time becasue what you are seeking is a home in a spefiic location to meet a specific need. An agent would have to make the time and effort to target that area, actively market to it and/or use alternative information resources to locate a seller. I will keep your need in mind, as I am actively searching in Danville and current on weekly sales statistics.


http://www.trulia.com/blog/maryanncadorna/2013/04/real_estate_talk_with_mary_ann_1 (blog)


Thank you,
Mary Ann

Mary Ann Cadorna
J. Rockcliff Realtors
15 Railroad Ave
Danville, CA 94526
CDPE DRE01345274
925-286-1888
www.HomesGPS.com
www.ShortSaleAgent.biz
www.DanvilleRADIO.com
www.RealEstateTalk.biz
www.youtube/maryanncadorna
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0 votes 9 answers Share Flag
Thu Apr 11, 2013
Tracy Parker answered:
Alamo Creek in Danville may give you the best value now and in later years when you go to sell. Danville does have less new construction and is a highly desirable community because of it has a beautiful historic downtown- which is very unique. The Town of Danville takes care to maintain the parks and recreation area for the residents which makes it a premier area for organized sports serving all ages. The schools of Danville and San Ramon are in the same district so they are all fairly equal. All and all- the lifestyle Danville offers is hard to beat beat in the East Bay!

Hope that helps-

Tracy Parker | Prudential California Realty
925-389-0645
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0 votes 2 answers Share Flag
Thu Apr 11, 2013
Mary Ann Cadorna answered:
Hi Joenica,

Truly anywhere in Danville is a good investment. The quality of life, from the town leaders, merchants, police, firefighters, schools, to the organizations that are very active in providing a wonderful downtown and life style. Previously the town had 21 planning areas, with some added new home developments. Each one distinctive including yours. Short sales are down to a minimum, and the overbidding is helping the values rise. He have reached the 1/2 point of our ten year post crash recovery and all indicators point to a continued uptick. Actually the front page of Money Magazine indicated Housing is back. If you've bought in Danville, no matter what neighborhood it's a good investment. Planning area aside, you've already seen your investment increase by 7%, I consider Danville a slow growth to no growth area. Where the demand for housing can only be accommodated by the amount of land designated for such purpose. But the one thing that will always be a good investment and on the rise, and in high demand is the quality of life that is supported by the town and the people in it. Go to http://www.DanvilleRADIO.com my website dedicated to the town of Danville.

https://www.box.com/s/zwzj3j1jtytr3oxo11js Here's a link to my live talk radio show, during the 4/7/13 hour live broadcast, I discuss where the market has been the last five years, where we are now, how the investors got us to this seller's market and where we are going. Furthermore, I talk about preparing to sell and buy a move up home and what remodel brings you the best $$ return.

Hmm, a condo investment sounds good?

Join me Sunday's from 9-10:00 am on AM 1220 or globally streaming live http://www.KDOW.biz for Real Estate Talk with Mary Ann, Your Radio Realtor®
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0 votes 6 answers Share Flag
Sun Mar 17, 2013
Michelle Thompson answered:
Absolutely! I was limited on the space so I couldn't type much :) I lived in Danville, San Ramon, Pleasanton, Blackhawk and Discovery Bay. (My Dad was a Realtor so we moved around a lot) I loved the East Bay. El Dorado Hills is beautiful too. Lake Folsom is one mile away so we have great access to boating, hiking, biking, and fishing. In addition, we have top rated distinguished schools and great restaurants. Thanks Steve!! ... more
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Mon Feb 25, 2013
Lee answered:
You will need to go to the Town of Danville and Contra Costa County in Martinez to ask for any permits. And yes, you will run into problems if no permits were pulled. Seller should convert it back to original permitted sructure and go from there. If the Town of Danville finds out that it was done without a permit, you could get fined and have to convert it back to a garage after you purchase it - especially if it is a stand-alone unit (possible rental). Either you will need to fix it or the seller will need to fix it. Get the seller to do it in order to avoid other permit and legal issues issues. ... more
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Sat Jan 26, 2013
Tricia J. Philipson,MBA,CDFA answered:
When you are searching via MLS you can narrow your search to only show active listings. Contrarily you can also search via MLS for pending listings.
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Sat Jan 26, 2013
Andree Freeman answered:
I find that most everywhere you are looking at new construction, most builders would agree to upgrades faster than large price drops. If you find a home early enough in the construction stage it will be much easier to negotiate upgrades and customize the home more to your particulars likes and needs ... more
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Sun Nov 4, 2012
Kevin Hubbard answered:
Thank you! That sounds wonderful and I would be delighted to talk about creative ideas. This is what the industry needs - more win-win solutions!
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Mon Oct 22, 2012
DRE #00960101 Brenda Zwahlen answered:
Are you still looking for a cottage? A darling one just came on market in westside Danville!
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