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Home Buying in Folsom : Real Estate Advice

  • All147
  • Local Info7
  • Home Buying65
  • Home Selling4
  • Market Conditions5

Activity 99
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
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Mon Nov 29, 2010
Phil Rotondo answered:
Good Morning Myrna;
There are numerous private lenders available on-line.
Do a search for private mortgage lenders.
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Mon Jul 12, 2010
Mechelle Reasoner (Gooch) answered:
Willow Springs is a great family neighborhood in Folsom. Lots of walking and biking trails around. The lake in the middle is a nice feature. You will see and hear all sorts of birds, frogs etc. The neighborhood schools are rated high. There are no HOA dues, which can be seen as a benefit. One of the best parks (Folsom has a lot of great parks) is at the entrance to Willow Springs. Livermore Park offers swings, play structure, sand volley ball, softball fields, a water feature that includes a water fall and stream, great for toddlers, picnic areas and trees with lots of shade!

As for asbestos in Empire Ranch, I suggest you do your own research to determine if you should be concerned. The natural occurring asbestos is in 44 of 58 counties of California. This site offers lots of information: http://www.airquality.org/compliance/asbestosNaturallyOccurring.shtml.

I can tell you that 3 schools are built in Empire Ranch, that it is a highly desirable neighborhood, and while there was some concern when first discovered, the concern seems to have died down. I do not notice it being an area that home buyers avoid. And when a home buyer is in escrow, one of the disclosures would be about the natural occurring asbestos.

For more info on Folsom, check out my blog at http://www.FolsomCorner.com
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Tue Jul 6, 2010
Donna Meyers answered:
I think the overall advice of all the agents is great. Folsom is great place to live as it has all the conveniences nearby and schools are well supported by great parents and teachers. I would also look at a community in El Dorado Hills called the Hills of El Dorado. It is located off Bass Lake Road and Magnolia Hills. That community in particular was desigend and built for young families buying their first house.
THe homes range in footage from 1237 to 2100 sq feet and pricing starts as low as $224,900. In this community there are no HOA fees or Mello Roos fees and they have Calif Distringuished school and also community park with pool. If you do a drive through the community you will find many a street with the signs directing traffic to slow for kids playing. I wish you success in your search for your first home!
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Wed Jun 30, 2010
Debra McAlister-Brown, P.A answered:
Are you working with a realtor? There are many different aspects when looking at the items you discussed. Type of construction, upkeep wear and tear. Have you considered having a home inspector look at the property and discuss the items in detail? ... more
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Wed Jun 30, 2010
Jeri Creson answered:
Discuss this with the attorney you hired. Without looking at the exact paperwork you are quoting, it's hard to tell from here exactly what you're looking at. When a trustee sale date has been set, even once the bank has voluntarily agreed to postpone or take it off calendar completely, it will usually still show up with that sale date. This is a very common sight that will definitely freak one out a bit, and usually... it's ok. But not always.

The information you're seeing on Trulia, most likely comes from Realtytrac, whose information is just pulled from raw data records about notices recorded, etc. and generally has no bearing on the actual goings on with the house in question, except for the fact that a notice was recorded. Don't panic...call your attorney, and if you're in contact with the bank yourself, you can try them as well. It may just be an exchange of the securities on your home and a paper shuffle that has you up in arms. But do check right away.

Good luck to you!
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Wed Jun 30, 2010
Debra McAlister-Brown, P.A answered:
You may want to contact a realtor in the area and have them discuss the opportunities with you. From what I see below there are a few realtors very familiar with the area, it would be best to contact one of them for additional information they seem very informed. Real Estate Realtors are highly trained professionals that can best serve your needs. ... more
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Wed Jun 16, 2010
Yvonne Rand answered:
Dear Reluctant_buyer,
Ok, I second guessed you and was wrong. A lot of people (not employed in Real Estate fields) use the word “assessed” and “appraised” interchangeably. The assessed value is based on the last sale price, and the taxes you pay are based on that. The loan will be based on the ‘market value’ (the appraisal). The new assessment won’t happen until after you have purchased the property. You would want your assessed value to be as low as possible, to pay less in taxes; but your appraised value as high as possible, to have the most equity. I don’t believe that there is a percentage equation; the numbers are based on two different sales. So which comes first, the chicken or the egg? In this case the ‘Sale’ (chicken) comes before the ‘egg ‘(assessment) ... more
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Tue Jun 15, 2010
Jim Walker answered:
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Sun Apr 25, 2010
Anna Boyd answered:
Folsom is a sought after community, as is El Dorado Hills so getting in at the current market pricing won't be coming around again for a long time. First Time homebuyers were shut out of the market for so long. I don't want to see that happen again. ... more
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Tue Mar 16, 2010
answered:
Dave - in addition to contacting a tax professional for this question (not sure why you're fishing for perspectives on Trulia to a very specific tax question), I would suggest going to IRS.gov....the form in question is 5405....

good luck!

Jeff Marr
Stanford Mortgage
916-947-1312
... more
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Mon Mar 8, 2010
Jim Walker answered:
Reading Donna's answer, I add the 90 days to the three weeks and came up with a minimum of 111 days.

Sweetie's question is quirky to me, though, because it is rarely ";one person that tries to do this".

Foreclosing is usually done by Trust Deed service companies that are hired by the mortgage lender to perform the service. Rarely does an individual, even a professional investor, try to do this job themselves.
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Sun Mar 7, 2010
Michael frank answered:
Hi Again!

Congratulations! I think your offer sounds great!

Of course, the existing lender will pay specific attention to your pre-approval qualifications to puchase this property in making the determination to accept or reject your offer.

Most REO and Short Sale properties are selling for more than the listed price so you are right on the money in anticipating that for sure.

I did research this property on Metrolist and the last recorded sale of this home was in March of 2006 and the selling price was $555,000!

Since this home has only been on the market for 3 days I really feel you did the right thing in offering what you did as a purchase price.

Best Of Luck To You!

Mike
... more
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Thu Mar 4, 2010
Brahda answered:
Hi everyone, thanks for all your valuable inputs. I just saw in the MLS listing another bayline house that was the exact same footage/model as the one in Kennar, but priced ~$450K &; hence I posted the question, on why the price difference. Looks like that house has been delisted this week. I should have double checked before querying this column. My apologies :( We saw both these houses today & Kennar is much to our liking (no visible sign of neglect & I'm surprised how Jim detected that there is a dog, yes there is one :) ). As both have already contingency offers onthem, our agent says, we can submit an offer, but has to be close to the list price or preferably higher, for the banks to consider it. We don't want to get into bidding, so any opinion on what might be a right offer price, for the Kennar (2536sqft) especially? ... more
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Mon Mar 1, 2010
Carie Averill answered:
Hello Prasanna,

I love seeing questions about The Parkway! I'm a resident of this wonderful neighborhood and truly keep my eye on the market to keep up with the potential value of my own home. I purchased my home in November 2003 and have watched the values rise and fall, with pricing now being reflective of early 2004 values.

You mentioned a home that was the same floorplan as the one I believe you are interested on Hammond Ct. The sold home of the same floorplan at 1167 Meredith was a VERY long short sale, that was listed by a top selling agent in my office. He had that property in and out of escrow since March 2008, with multiple offers each time it came back as an "active short sale". The seller had 2 loans with the same bank and every time they would have an approval, the existing buyers had already walked away and purchased other homes. This was a tedious and long process for the listing agent, but that is sometimes how short sales work. The sellers price them aggressively for the market, just to get an offer that they can start working on the process with the bank. The last list price of that home was $359,000 and it sold in October 2009 for $370,000.

I personally represented the buyers of a bank owned home on Hammond Ct. in July 2009. It is the smaller floorplan of 1803 sqft., with 3B, 2B. That sale closed at $360,000 which was higher than the banks asking price of $349,000 and the listing agent had 5 offers.

Another one of the top agents in my office represented the buyers for the corner house on Hammond, the 1803 floorplan. The sales price was $375,000 in September 2009.

And finally, there is a house at 1150 Scheidegger that is the same floorplan as the house you like on Hammond, the 2024 model. It sold for $400,000 on December 24, 2009 and had no for sale sign in the yard or lockbox on the property, making it a little bit more challenging for buyers agents to show.

Bottom line....the seller for the house you want did have an offer within the first 10 days the house was listed for sale. That buyer backed out for some reason, probably due to financing. The house has been on the market for a total of 36 days and the seller hasn't had their house on the market long enough for them to feel the pressure of lowering the price to capture a new buyer.

I truly hope this helps give you some perspective on The Parkway. It is a very desirable neighborhood and one that I'm proud to call home!

Good luck with your search!

Respectfully,

Carie Averill-Branch
... more
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Fri Feb 26, 2010
DesperateBuyer answered:
Folks,
I truely appreciated your quick response! All the responses are valuable and very informative. Specifically in this confusing market, you folks are getting the people right kind of information with your great experience in this real estate field!
Thanks,
Rajashri
... more
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Thu Feb 25, 2010
Brahda answered:
Yes, I have & that's why I asked if it's due to "less inventory".
Anyways, the month of May will tell us if the economists are right or an average home buyer :-) ... more
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Mon Feb 15, 2010
Gita Bantwal answered:
No one has a crystal ball. This answer is for buyers any where in the country.Prices may come down anywhere but they may also go up. If you are a first time buyer and have done your research about where you want to buy, you should consider buying when rates are low and prices are low and you can take advantage of tax credit if you qualify. Go to www.irs.gov to see if you qualify.
A good buyer's agent can do the comps for you so you can make an offer. The agent can not guarantee future appreciation nor tell you that prices will fall.
... more
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Tue Dec 8, 2009
Pme answered:
Sue and Michelle, thank you for your answers!
0 votes 4 answers Share Flag
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