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Rentals in Harbor City : Real Estate Advice

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  • Home Buying6
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Activity 2
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
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Thu May 10, 2012
Michael Magaw answered:

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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Rentals in Harbor City Zip Codes