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Harbor City : Real Estate Advice

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  • Local Info0
  • Home Buying6
  • Home Selling2
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Activity 19
Fri Mar 24, 2017
Cindy asked:
0 votes 0 Answers Share Flag
Sat Feb 25, 2017
Vivian Honda asked:
I would like to amend or remove the comment regarding a real estate agent.
0 votes 0 Answers Share Flag
Mon Jan 30, 2017
Sheryl Arndt answered:
Hello William, it would be nice to but probably not as you need to do some investigation to make sure who you are dealing with just so you have legal recourse if anything goes awry. The homeowners can be looked up by address to know who you should deal with.

Beware of the many rental scams out there these days on all sites. The scams are on all of the rental listing sites except one that us agents/broker use such as mls, multiple listing service.

You should not give anyone any funds or personal information without confirming with a licensed agent/broker or management company to find out whom you should be dealing with and the status of any address of interest.

If you figure out what cities/zip codes you are considering, minimum number of bedrooms and the maximum payment/price you are looking to achieve any agent can email listings to fit your search criteria. Your email address is needed to set you up for the automatic daily updates.

The rentals in 90710 zip code start from $795 for a studio apt, $1,345 for 2bd 2ba apt, $2,250 for 3bd 2ba condo and the single family homes start from $2,600 for 4bd 2ba 1,768sf home. The inventory is quite low for rentals so you may want to check with the local rental management companies too.

The purchase in 90710 zip code start from 270k for 2bd 2ba 1,036sf condo, 339k for 3bd 2.5ba 1,484sf condo and the single family homes start from 460k for 3bd 2ba 1,260sf home.

You should study RENT vs BUY options as you may qualify to buy and pay less than rent in many local cities. You may qualify to buy with minimum out of pocket expenses and pay less than rent.

If you decide you want to buy you will need to be pre-approved to be able to meet an agent to view and submit offers on any homes of your choice. You will need to gather some documentation for each applicant.

Your qualifications will be determined by your credit profile, debt to income ratios, fico scores, loan program and how much you want to invest into the down payment and closing costs. Your fico scores can be raised within 3-4 days in most cases to qualify for programs, rates and terms as necessary.

If you are buying a primary residence you could consider a down payment assistance program such as CalHFA or Sapphire Grant which can cover your down payment and closing costs. You may close with minimal out of pocket expenses. You may consider the CalHFA from a minimum 640 fico score and the Sapphire Grant from a minimum 620 fico score up to 424k.

You may qualify FHA from fico scores between 500-579 with 10% down or minimum 580 fico score may qualify FHA 3.5% down up to 424k. You may consider 3% down conventional from a minimum 620 fico score or even 5% down conventional with NO Mortgage insurance (Lender paid MI) up to 424k.

Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
Veteran and VA/CalVet Loan Specialist
REO and Short Sale Specialist
Credit Repair At No Cost
ALL Loan Programs Available
24+ Years Experience
BRE# 01140252
NMLS# 297251
... more
0 votes 1 answer Share Flag
Wed Apr 23, 2014
Tammy Hayes answered:
Here are some helpful tips to get you started on the right path.

1. The first step before you do anything is to find out how much money you can borrow from a bank/mortgage company. Check with different lenders to see who can get you the best deal. Once you know what you can afford, then you can begin to plan.

2. Determine what you need in a home, not necessarily what you want in a home. Make a list of those needs to give to your Realtor. When you are searching for homes you will find that it is very rare to find a home that has absolutely everything you are looking for. If you stick to what you actually need, you will have better success in your search.

3. Research areas/communities that are of interest to you. Determine what things are important such as schools, proximity to shopping, restaurants, and local activities. Drive through the communities to get a feel for what they are like.

4. Learn as much as you can about the process of buying a home. Some local Realtors or lenders will offer first time home buying seminars. If you can find one in your local area it would be helpful to attend. If you cannot attend a seminar, look on the Internet for a home buyers guide such as the one at Bankrate.com – http://www.bankrate.com/brm/news/real-estate/BuyerGuide2004/fthb-blog.asp.

5. Select a local Realtor to help you begin your search for a home. You can search Internet sites such as Realtor.com or Homes.com, but a Realtor has access to all of the homes in the local MLS. They can provide you with information on the home, the area and answer any questions you may have. A Realtor can show you properties of interest.

6. Learn about the contract and what is involved. Your Realtor can take you through step by step the process of a contract. After it is signed by buyer and seller, it is called an executed contract. Then you would want to get a home inspection. If everything is fine with the inspection, then you can go forward towards closing.

7. Know what happens at closing. Again, a Realtor can walk you through what to expect at closing. You will need to have money for closing costs such as title search, processing fees, taxes, and insurance.
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0 votes 3 answers Share Flag
Fri Aug 9, 2013
Alexander Greer answered:
I can certainly help you out. You can call me at 408-352-5147 or email me at AGreer@themortgageoutlet.com. You can check us out at http://www.TheMortgageOutlet.com. I will look at your situation and present you with some options.

Alex Greer
NMLS #1056079
... more
0 votes 2 answers Share Flag
Sat Jul 13, 2013
Alexander Greer answered:
We can certainly help you out. You can check us out at http://www.TheMortgageOutlet.com and give us a call. One of our loan officers will look at your situation and present you with some options. ... more
0 votes 5 answers Share Flag
Sat Jul 6, 2013
adanmaobi2 asked:
Sat Jul 6, 2013
adanmaobi2 answered:
Is 1070 252nd st #b harbor city FHA approved?
0 votes 1 answer Share Flag
Tue Mar 12, 2013
Michael Magaw answered:
Jamie is correct. This home is not for Sale. If you want a list of available homes, I can set you up with an automated search that gives you information directly from the MLS.

Feel free to contact me for more information.

Michael Magaw
310.259.6850
m@nhlbrokers.com
... more
0 votes 2 answers Share Flag
Wed Jul 11, 2012
Alison Hillman answered:
Hi Earla,

Which property are you referring to?

Thanks,
Ali, Community Manager
0 votes 1 answer Share Flag
Sun May 13, 2012
Stephanie Hart answered:
Felicia,
Your not alone. Many are taking a hit when selling their income properties right now. I am assuming when you say you are in the red monthly, that we are discussing rents vs. payment.
You will get great advice from your CPA, I am sure. Tax ramifications are different when short selling an income property and are not covered under the current Mortgage Forgiveness Debt Relief Act (link attached).
I am not aware of any type of loan that will cover a short, unless you take out a personal loan of some sort. Most lenders are not in the business of lending on properties that are in the red.
We specialize in short sales and know how important it is to work with a professional. The process can be a long one and presenting a compete package to the bank is very important. When selecting a short sale agent make sure that you ask their success rate (were currently 100%) It's a good idea to let them know your current lender/s so that they can help you prepare the appropriate package for that specific lender. Many banks require different documentation.
Wishing you the best!
Stephanie Hart
Forecast Realty
310-918-6856
DRE CA#01338444
www.hartssellsouthbay.com
... more
0 votes 2 answers Share Flag
Thu May 10, 2012
Michael Magaw answered:
Josephine,

It might help to understand why you would prefer to deal directly with the owner. Remember that the owner has his best interests in mind and he knows this business. Using a Realtor offers you many free benefits that the average renter typically cannot provide to himself. Your Realtor should be very knowledge about the area you looking in, the availablility of inventory, how to best prest your application and supporting documents, how to structure your lease, how to negotiate the best terms possible, etc.
Based on the average buyer or renter that I meet in my professional life, most of these people are best served by trusting a qualified Realtor. Real Estate, like many businesses, is not a good Do-It-Yourself business.

Michael Magaw
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0 votes 9 answers Share Flag
Fri Oct 22, 2010
Royal Real Estate Group answered:
Well, it depends, how motivated seller is to sell it. You can certainly make your offer and try your best or take assistance of some professional realtor and try to negotiate the price. We certainly need to find out valid reason, why builder should lower the price than the list price. ... more
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Fri Oct 22, 2010
Royal Real Estate Group answered:
0 votes 3 answers Share Flag
Thu May 6, 2010
SueCobb answered:
I would recommend if you haven't already, is to pull a Preliminary Title Report to check if there are any liens, taxes, or judgements that need clearing off the title prior to selling or renting the property. If you do not have to sell, then don't! If you or anyone in the family ever want to come to California to live, this would be your little pot of gold to do so. I know many many families who sell and move back east for larger and cheaper estates; then decide to come back, can't because the prices are way too high.

Is the property in a Trust? Then the trustee will need to handle the paperwork for whatever you need to do. If in a Trust, you can rent or lease the property. Is this a Probate situation? Each situation requires different paperwork and you need someone who is experienced in all the different scenarios.

The properties in Harbor City are active. Either in rentals or in sales; you and your family need information from this side to help you decide what to do. You could have a someone go through the property, do a extensive visual inspection, take photos to send to you along with all the pertinent information of area sales and rentals that would be important in assisting you with your decisiton.

I would be happy to fullfill this service at no charge or obligation to you. With the detailed information I would send you could help you to determine how you want to handle this situation. I'm a realtor who has lived in Harbor City for over 30 years. I just listed a home three weeks ago and just went into escrow the other day, so I know the area and how to handle the marketing in any situation. My company has three offices to serve Los Angeles and Orange County. Rancho PV, Lomita (next to Harbor City), and Huntington Beach. We do Property Management, Leasing and Sales of Residential and Commercial Properties.

Let me know if I can answer any questions for you; again no obligation.

Sue Cobb
Mattucci Real EState
(310) 809-3659
http://suecobb.listingbook.com/
... more
0 votes 4 answers Share Flag
Wed Jul 1, 2009
Felicia answered:
I actually posted this more than a year ago. The condo has been off the market for a long time, and I have renters.
0 votes 4 answers Share Flag
Wed May 13, 2009
Kaldis Development answered:
Hello! My name is Deidre and I am with Kaldis Development. We are a real estate developer and broker. We can list your condo as well as manangement. Please contact me at 713-526-1802.
I look forward to helping you.
... more
0 votes 10 answers Share Flag
Wed Jan 9, 2008
Don Tepper answered:
Unfortunately, you don't have many options. You can only afford the minimum payment on an Option ARM, so I'm not sure how a fixed rate (if it's higher) will help. If your ARM has already reset and a fixed rate would be lower--and it would be something you could afford--then try a lender other than Countrywide. And with the shape Countrywide is in, they may not be eager--or soon even able--to do a refi on your property.

Other than reducing your expenses, your only other choice is increasing the income. Can you raise the rent? If so, how much? Will that help?

If you put it on the market and sell at a loss, can you handle the loss?

Did you have a good real estate agent the first time around? Was the property properly staged? Did the original agent provide any feedback on pricing, condition, etc?

All things to consider.

Good luck.
... more
0 votes 3 answers Share Flag
Mon Oct 29, 2007
Felicia answered:
Hi Keith. I'll definitely consider a 6% commission if I don't see any improvement in the next few weeks. Other condos in the area are getting traffic if they are the lowest price. I don't think the others are seeing much traffic, and according to the condo report I saw, even the ones that are priced "right" may sit on the market if they are not in good shape. There are were two older condos (one listing has expired) that were way cheaper than anything else on the market comparable to them. The expired listing was on the market I believe for almost a year. The other one is still listed but has been on the market for several months. This weekend is the first open house with the new price, and next Friday my realtor is doing a broker's open house. So hopefully, these changes will generate more traffic. I agree that I need realtors to come through and not just people from the open houses who are just looking and not really buying right now. Thanks for the good luck! ... more
0 votes 26 answers Share Flag
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