Hi John, what an interesting spin to the problem of what to offer in a competitive market - i had not thought of it like that - in my last situation the house would have probably appraised no higher than 220K probably less because of much unfinished work. The same house sold for 214 four months before. There was a undisclosed lein that showed up in the counter - so essentially I would have paid a minimum of10K over the asking price and had another 15K or more of work to do - with all those numbers? Is it still a "good buy" Im not sure how the appraisel process works< I know its hurting the market due to all the new regulations - appraisels are coming in low and conservative - I can tell you stories! I took a beating selling my rental because of a bad appraisel! So Im not sure if that affects the sales value of the rest of the neighborhood- John do you think the inventory situation is going to get better any time soon? I hear banks are refusing to release inventory...whats that all about? I have some thoughts but this is not the place to post them LOL
Thanks for your insight... more
Yes. Broadstone does offer homes with larger lots and side yards. Many owners have RVs. If you have a particular neighborhood or street in mind, contact me. I can obtain copies of the CCRs for you. You can reach me by phone, 916-850-5082 or email, firstname.lastname@example.org.... more
If you want to give me your address, I can get you some additional information on the Mello Roos but most of the neighborhoods have Mello Roos or a Bond so shouldnt be a huge deal when selling the house as most buyers have come to accept this as part of the expense of buying in Folsom (some neighborhoods have quarterly or monthly HOA as well on top of the Mello Roos). Some of the bonds were 20 year bonds are set to be paid off in a few years (depending on when the house was built) but some of the Mello Roos is ongoing for park/trail maintenance so will never be paid off... Hope this helps and if you would like more specifics, please shoot me an email! Thanks... more
The answer to your question depends on whether you are talking about a home that is already owned by the bank (REO or bank owned) or a home that is set to go to auction. Both of these homes are called "foreclosures" by people and the answer to your questions is very different. If you want to buy a home that has an auction date set, you would go to the courthouse steps on the day & time of the auction with cashier's checks to bid on the home. If you win the bid, you own the home with all liens and encumbrances. A buyer who is unfamiliar with the risks rally needs to do thier homework prior to buying a home on the "courthouse steps".
If you want to buy a home that is already owned by the bank, you would need to wait until the agent puts the home on the market. One of the primary ways these homes are marketed is on MLS. Visit www.ShortSalesSite.com where we answer many quetions about buying a home in the distressed market.... more
I would agree, that questions does pose a few of it's own. As most banks are very concerned about Arm's Length transactions and being assured of no exisiting relationships between sellers buyers and servicers.
If your query is due to simply the fact that you really like the home, contact a Realtor to do further title research on the property to see if and when it had gone through a Trustee's Sale and whom the current owner may be.
I spent 20 years in the Title Industry researching property. If the home is now owned by a bank, it may be possible to contact that bank directly for purchase.... more
Zillow is not a great resource to use to determine price, you need to get a Comparative Market Analysis from a Real Estate Agent to determine if it is a good deal. My best advice to you is to get a Real Estate Agent in the Folsom Area. It costs you, the buyer, nothing and will insure you are protected. Ask the Seller if they are willing to cooperate with a Buyers Agent, it is in your best interest and their best interest. Also, Prices are unpredictable, but interest rates are on the rise. Buy when you find the house you want to make your home!
Lyon Real Estate Folsom
Happy to answer your calls any time!... more
My opinion is that $490k or less should be plenty to purchase a similar home in The Parkway or a surrounding neighborhood. I looked at Sold, Pending, and Active comps. There is plenty to support a sale price of $490k or less. Also, I noticed that a home that may fit your needs just came back on the market. In The Parkway, 3577sf, a little larger lot than some of the neighbors...
I'd love to chat more and find out how I can better serve you. Feel free to call or email. 530-503-5225 or MLarson@myinsightre.com... more
I've sold many homes in and around the Empire Ranch area and here's my advice. The homes near the red tees on the 7th hold are in direct flight path of tee shots from the men's tee. The next worst area is near the 150 yard marker as approach shots tend to go right for most average golfers. Living on a golf course has pros and cons. Pros; it's pretty, nice views etc. Cons; bad language, early morning noise from the maintenance staff etc.
I agree with Cyndi Bell, ask questions directly to the builder and let them know about your concerns as well as knocking on some homeowner doors and asking about what they have expereince with this builder. This is a great way to learn about any neighborhood your looking at.
Folsom is a great active community. The Hideaway @ Treehouse is conviently located near Folsom High School, Gallardo Elementary School, Kaiser, Intel, Running Trails, Soccer Fields and Restaurants.
The current market for Folsom CA is slow! Short sales dominate with REO or bank owned homes slowly making their way to the MLS. Prices are ebbing as the holidays are over and people are more interested in moving up or downsizing. January is typically the busiest month for relocation as companies begin to assess their work force and make changes for the new fiscal year which means moving people. The major employers in Folsom being Intel, Verizon, and others are conservative and unwilling to assist unless the employee is highly needed so relocation assistance isn't a given. New home construction is somewhat limited as Folsom nears bulid out but the Palladio Mall is almost complete and beginning to lure tenants so hopefully that will spur more sales.... more
If you are looking at a specific property listing, most likely the listing agent has generated a preliminary title report. That might be a good place to start to resolve the question of the Mello Roos as it should state the company holding it, and some details about it. In addition, the seller may have some documentation that they can share with you over the length of time left, the amount etc during their disclosures.... more
Kelly - Mello Roos fees are actually payments associated with a bond that was used to finance schools, road maintenance, etc in a given neighborhood, these bonds typically have maturies of 20-40 yrs....
Based on the question you were starting to pose, the neighborhoods with 20 yr bonds will begin to mature in roughly 4 yrs, you can do the math for the longer maturity bonds!
best, Jeff Marr
Terazzo Estates at Broadstone no HOAs and custom homes and lots with great views of Sac valley and Folsom Lake. Also Hill Crest is a more developed upscale gated community in Empire Ranch. It has $80 dollar HOAs but is gated and well taken care of. Lots of custom homes there with amazing views of Folsom Lake, Sac Valley, and El Dorado Hills. Also, if you're looking for an older home there are many on the former street of dreams Los Cerros with no HOAs.... more