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Home Buying in Folsom : Real Estate Advice

  • All146
  • Local Info7
  • Home Buying65
  • Home Selling4
  • Market Conditions5

Activity 98
Thu Jul 5, 2012
Worfdog answered:
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
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0 votes 9 answers Share Flag
Sun Jul 1, 2012
Suzanne Staley answered:
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, suzannestaley@att.net. ... more
0 votes 6 answers Share Flag
Tue May 15, 2012
Kerri Habel answered:
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
0 votes 1 answer Share Flag
Sun Apr 22, 2012
Ariescc answered:
Mon Apr 2, 2012
Sheryl Smith answered:
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.
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0 votes 3 answers Share Flag
Sun Apr 1, 2012
Suzanne Staley answered:
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.
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0 votes 4 answers Share Flag
Fri Mar 16, 2012
Robert Lei answered:
Yes, you can use the listing agent.

It's a sellers market in the good school neighborhoods. Inventory is low. Even if you offered at or above list price, you still might not be the highest offer. ... more
0 votes 35 answers Share Flag
Mon Feb 6, 2012
Ed Favinger answered:
Sat Jan 7, 2012
Alps answered:
thank you all for your helpful comments. The information given was very informative and helpful for us as a first time home buyer. thanks all once again.
0 votes 11 answers Share Flag
Mon Nov 7, 2011
Jim Walker answered:
I looked at the post time for this question. It came just minutes before a big quake in Oklahoma City. How is that for a coincidence?
0 votes 5 answers Share Flag
Sun Aug 21, 2011
John Arendsen answered:
Fri May 6, 2011
Bianca Wittenberg answered:
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!

Bianca Wittenberg
Broker Associate
Lyon Real Estate Folsom
916-889-6620
Happy to answer your calls any time!
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0 votes 6 answers Share Flag
Mon Feb 21, 2011
Morgan Larson answered:
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
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0 votes 6 answers Share Flag
Sat Feb 19, 2011
Jeff Hoffman, Folsom's Top Agent answered:
Smasdu,
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.

Good luck.
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0 votes 11 answers Share Flag
Tue Feb 8, 2011
Barbara Bender answered:
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.
Enjoy Folsom!

Have a great day,
Barbara Bender
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1 vote 2 answers Share Flag
Tue Jan 25, 2011
Beth Moran answered:
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
0 votes 8 answers Share Flag
Wed Jan 5, 2011
Sue Archer Reynolds answered:
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
0 votes 3 answers Share Flag
Tue Jan 4, 2011
Jeff Marr answered:
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
Stanford Mortgage
916-947-1312
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0 votes 2 answers Share Flag
Sat Dec 4, 2010
Estate answered:
Big Issue cars might keep owners up at night, electricity poles not a big problem but some might think they're ugly which will steer them away from the house
0 votes 8 answers Share Flag
Sat Dec 4, 2010
Estate answered:
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
1 vote 10 answers Share Flag
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