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95020 : Real Estate Advice

  • All38
  • Local Info0
  • Home Buying19
  • Home Selling6
  • Market Conditions1

Activity 34
Thu Aug 11, 2016
Derek Jones answered:
Assuming no hoa and preliminary title report already received you should be able to close within a week. But things like inspections, hoa docs, prelim title reports can delay the process. ... more
0 votes 2 answers Share Flag
Wed Jul 20, 2016
Jdkludt asked:
Would you mind adding our new photos as soon as possible and delete the old ones.? Thank you so much
The Kludts
jdkludt@garlic.com
0 votes 0 Answers Share Flag
Tue Jun 30, 2015
answered:
Hi Ruby,

If you are in California and have a foreclosure question, I try to answer all of those. It is more of public service thing with me, as I know how much grief people who go through that suffer. I missed your question and can not find it.

In 1993-1995 I actually worked for BofA and our division was attached to the loss mitigation dept and I was actually was the person who communicated with the customers who were losing their homes or if they were destroyed in a fire or earthquake. I have specialized knowledge of the process and know how you may be suffering.

I make it a point to try to help people in that situation if that is your situation please feel free to call me directly, 714-968-2500.

I do not make any money on a call like that, just glad to help people going through a very hard time.
... more
0 votes 2 answers Share Flag
Sat Sep 27, 2014
Lisa and Pete Fleming answered:
Hi Pam,

I have four kids under 12! Gilroy is an awesome place for families and children. The schools are great and the brand new high school is even better. If you should have any questions let me know

Peter
... more
0 votes 20 answers Share Flag
Sat Jul 6, 2013
Wayne Giroux answered:
Margaret - I'm sure you know the answers - the ones you see may help some ... Give me a call if you'd like to chat about it ... W
0 votes 12 answers Share Flag
Sat Jul 6, 2013
Wayne Giroux answered:
You must be confused by answers all over the place. The Gilroy marketing is strengthening (today's Mercury News said median prices were up 30% over last year) but has not become the seller's market with multiple offers a way over list the way it has up North. Nevertheless, properly priced homes are selling quickly, at times above list price. On the other hand, up North there are signs of a stabilizing market (I laughed when I saw a Realtor interviewed who was upset it might take two weeks to sell rather than two days). In the end, pricing, marketing and negotiating are as much an art as they are a science, and they are the main reasons you ask a Realtor to help. It is easy to leave more than the commission on the table when you are not experienced. In your case, no-one can tell you your agent is advising you correctly unless they know the house, know the market (which some obviously don't) and know the strategy. You are not wedded to your agent, though some agents try to lock you into a long term contract and refuse to let you out until expiry. Most agents will let you leave the relationship graciously. Talk with another trusted agent, invite them into your home to discuss your pricing and marketing strategy, listen to their advice and then make your own decision. You may be priced high. You may be priced low. You may have an agent who has your best interests at heart. Unfortunately, occasionally, you may not. ... more
1 vote 16 answers Share Flag
Thu Jul 4, 2013
Debby Bright answered:
This is a very competitive market and if a property is priced right, the sellers are receiving multiple offers. Are you getting any showings? Do you have a lock box on? Do you leave the home while prospective buyers come through? One problem is, you and your agent probably overpriced the listing in the first place. Once it's been on the market for a while, it becomes what we call "shop worn." Agents will say to themselves, "Oh, I've seen that already," and they won't show it. Most of the important activity for a new listing is in the first 30 days. That's why it's key not to overprice it.

Without looking at the home, it's hard to say what it should be priced at. If your listing is expiring soon, give me a call. Even if it's not expiring soon, call me and I'd be glad to look at the property for you and see if we can't come up with better marketing ideas that could help you sell. It sounds like you're motivated.

Are you also buying something? Perhaps I could represent you on the buying end.

Debby Bright
Real Estate Broker
408.309.0777
CA DRE #00957311
... more
0 votes 10 answers Share Flag
Thu Jul 4, 2013
Gregorio Denny answered:
Quote:
" I see that this is 2009 -- in 2012 you'd not be very likely to get a loan self-employed"

Carla, what are you talking about? It's this type of nonsense misinformation that cripples the housing market and confuses borrowers. Getting a mortgage with self employment income is very easy; all you have to do is claim it and pay taxes on it and it's just like any other income.

Please stop spreading misinformation!
... more
0 votes 11 answers Share Flag
Wed Jul 3, 2013
Debby Bright answered:
This is a good question and I'd have to refer you to a good mortgage broker for a complete answer. Call Ted Oberson of Evernote Bank, 408.910.4833.


Debby Bright
Real Estate Broker
CA DRE #00957311
408.309.0777
... more
0 votes 10 answers Share Flag
Wed Jul 3, 2013
Debby Bright answered:
I wouldn't touch the 401K. Unless you're 59years old (I think) there will be tax consequences of taking cash out of your retirement savings. Besides, you're going to need that when you retire!. However, you could withdraw the closing costs if you absolutely wanted to without having to go on the loan. ... more
0 votes 13 answers Share Flag
Wed Jul 3, 2013
Debby Bright answered:
Quite the contrary. Selling a house in either of these areas is not difficult at all. These are both very desirable areas. Morgan Hill is a little hotter than Gilroy because it's 10 miles north, and closer to San Jose. When a property is priced right (and that's the key, along with making sure it shows well), it will sell in any market in any location. No need to worry about Morgan Hill or Gilroy. You'll love the area. It's rural yet you have the benefits of an urban atmosphere (good schools and a wide variety of shopping options. Plus larger homes on larger lots in many neighborhoods. You go girl!

Debby Bright
Real Estate Broker
408.309.0777
CA DRE #00957311
... more
0 votes 1 answer Share Flag
Wed Jul 3, 2013
Debby Bright answered:
Most of the investment properties in Gilroy are located west of Welburn. Some of the units on Kelton Drive are very nice, among others. Call me and let me know your email address and I'll send you listings off the MLS.


Debby Bright
Real Estate Broker
408.309.0777
CA DRE #00957311
... more
0 votes 5 answers Share Flag
Wed Jul 3, 2013
Debby Bright answered:
If you want to live in the most desirable area in Gilroy, make sure the property is located west of Welburn Ave. As someone already mentioned, the NW quadrant is a great location. But expect to spend $500K for something decent. Otherwise, there's a townhouse community off Forest Street on Fortunata Place where the 3 bedrooms are $325K and 2 bedrooms are priced at $275K. There are resale restrictions in this subdivision and a few hoops you have to jump through to purchase the property, but there are also low interest rate loans to supplement your down payment,, so give me a call if you want more details about this subdivision.

Debby Bright
Real Estate Broker
CA DRE #00957311
408.309.0777
... more
0 votes 6 answers Share Flag
Wed Jul 3, 2013
Debby Bright answered:
It depends on whether or not the tenant is cooperative. If he is, then he's to be served written notice to move giving him a certain amount of notice (30 days or more) depending on the length of his tenancy. If he's not cooperative, then the Seller/Owner/Landlord shall have to initiate eviction proceedings and that could involve quite a few months. Figure about six months duration to accomplish an eviction. Tenants' rights are tricky so I'd definitely work with a broker who's familiar with tenancy law.

Debby Bright
Real Estate Broker
CA DRE #00957311
408.309.0777
... more
0 votes 3 answers Share Flag
Wed Jul 3, 2013
Debby Bright answered:
Is this a short sale? Unfortunately, the banks take their sweet time responding or moving forward on processing sales. They were supposed to speed up the process as a result of billions of dollars in fines with the feds and the State of California but many of them haven't taken the settlement seriously.

I wouldn't stop looking. Something better may come along before your current transaction ever gets approved. You're in the "cats' seat" with an all cash offer.


Debby Bright
Real Estate Broker
CA DRE #00957311
408.309.0777
... more
0 votes 4 answers Share Flag
Wed Jul 3, 2013
Debby Bright answered:
My favorite neighborhood in Gilroy is Eagle Ridge, hands down.



Debby Bright
Real Estate Broker
DRE #00957311
408.309.0777
0 votes 4 answers Share Flag
Wed Jul 3, 2013
Debby Bright answered:
15% down payment is always better than 10% but as long as you have a pre-approved loan (not pre-qualified, it must be pre-approved, then you should be able to compete in the market place. Interest rates are probably going up so by the time you have 15%, a few up tics in the interest rate can translate into a lot more money over the life of the loan (30 years). Moreover, chances are the values will continue to appreciate so the property you can afford today will be out of your price range by the time you save the additional 5%. I'd go for it today, assuming you're pre-approved.

Debby Bright
Real Estate Broker
DRE #00957311
408.309.0777
... more
0 votes 3 answers Share Flag
Fri May 31, 2013
Sam Shueh answered:
There was a lender who also has a local real estate brokerage handling temp lease while selling it. I am not sure it is around anymore.
0 votes 5 answers Share Flag
Mon Sep 24, 2012
Stu Carson answered:
Dad333, Just saw your clarifications. They raise more questions. You believe you are on title, but we can quickly double check that if you provide me your names and the address.

If you are on title, the next key question will be how? There are multiple ways for married couples to hold title, each with different implications.

You say you were "served" for foreclosure, send me a copy of that document. Many times people think they've been served when they haven't. You may or may not have been. If you don't have a way to scan it as a pdf and attach to an email, fax it to me at 888-885-7284.

And I assume the reason just she was on the refinance was because your credit at the time was inadequate? And I assume that like most divorce's your credit has got worse since then? Is that true?

Regardless of what we find out, I still have the same fundamental question, "what do you want from the bank?". What is your objective? Having been through a divorce myself the past 5yrs I know that even the answer to that question can be fairly complicated because it may involve a combination of factors... finances & emotional. You need to talk with someone you can trust. Make that decision asap. Happy to be that person.

P.S. I'm on my 4th divorce attorney and have been referred to several others that if/when needed I can refer you to. Ditto when it comes to real estate attorneys. I empathize with you, before you go pay someone $350-$450/hr... let's see what we can figure out together.

Stu Carson
Stu@StuCarson.com
408-209-0849
http://www.JustMyProperties.com
http://www.JustSchoolInfo.com
http://www.GetRealRealtor.com
... more
0 votes 14 answers Share Flag
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