how does trulia figure the estimated payment? if it is a condo, does it add the HOAs into the estimate? also, i'd be interested in hearing

Asked by Lauren, West Hollywood, CA Sun Nov 7, 2010

realtor's advice on new condos and purchase price. recently, i've looked at harper west hollywood, hacienda lofts, and 817 alfred street lofts. the prices seem a bit high to me, so i'm wondering if i can go lower on my bid from the asking price...

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Dorene Slavi…, Agent, Torrance, CA
Mon Dec 27, 2010
Hi Lauren,
No I'm sure the HOA's and or Mello Roos fees are not added to the estimated monthly payment. It's a good idea to work with a loan officer to determine the total monthy payments on a particular property.

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Lang Lequang, , San Jose, CA
Tue Nov 16, 2010
HOA, tax, insurance, PMI are not added to the estimated payment. So you need to factor all that in the mortgage monthly payment, and make sure you check the property tax and all new added taxes & special assessments. This is the end of the year and you may get a good deal but work with a Realtor so they can negotiate for you.
Good luck!
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Nancy Zelada, Agent, Pasadena, CA
Wed Nov 10, 2010
Hi Lauren,

The HOA dues are not included in the estimated payment on Trulia. I would recommend for you to contact your mortgage broker so they can provide you with accurate figures depending on the property you are interested in, especially since HOA dues are always different in each building.

New construction is great because the builders sometimes offer incentives to buyers. But, I would suggest for you to work with a Realtor that has knowledge not only in new construction but also resale properties. The reason is because they can help you determine what the fair market value is, so you can get the best deal possible. As a buyer you have many options to choose from all you need is a great Realtor to guide you through and make this experience as smooth as possible. Feel free to contact me if you need any assistance.

Best Regards,
Nancy Zelada
Keller Williams Realty
(323) 603-6885
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Richard "RJ"…, Agent, Beverly Hills, CA
Tue Nov 9, 2010
Hoa's are not figured in the estimate. You lender should be able to give you an estimate on payments and then add the hoa... Those are nice buildings but there are many all over town. What is the bed and bath count and price range you are trying to stay within..? I am always happy to assist.
Richard "RJ" Kas (SFR, SRES)
"Representing the finest properties from Los Angeles worldwide"
KAS Properties - Coldwell Banker Previews International - Beverly Hills East
9388 Santa Monica Blvd, Beverly Hills, CA 90210
310.859-5334 office - 310.488.9826 mobile - 310-273-0670 fax ATT: RJ - - DRE: 01352771
Sellers Buyers Investors Leasing Consulting
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Cricket Yee, Agent, Sherman Oaks, CA
Sun Nov 7, 2010
Hi Lauren, I believe that the Trulia estimate does not include HOA, taxes or insurance, so definitely make sure to factor them into your payment. Also, be aware that the HOA dues effect how much you can borrow, which effects how much condo you can purchase. There are some issues to be wary of when you are purchasing new construction, so definitely go with an agent who has experience with condo sales. In my opinion, everything is negotiable, and now is a great time to buy . It's the end of the year when builders are motivated. Let me know if I can be of any assistance.
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Janey Bishop, Agent, Calabasas, CA
Sun Nov 7, 2010
Generally est payment figures do not include HOA. Recently many HOA's have been raising monthly fees or adding assessements so have your realtor double check for you.
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karen numme, Agent, los angeles, CA
Sun Nov 7, 2010
Are you working with an agent.If so they should be doing comps for you to see what other condos have recently sold for so that they can help you negotiate the best price. There is no cost to you.I would happy to help you as I am very experienced in that neighborhood . call 3238042800 &check out my website to search for free.the MLS.THANKS.KAREN
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Jeffrey White, Agent, Beverly HIlls, CA
Sun Nov 7, 2010
I'm not sure if trulla's payment estimate adds in the hoa dues, but if you manually do the estimate on the calculator page you can see the full details of the estimate including taxes and insurance, etc.

As for putting an offer in, yes you should work with a realtor to find out where the units are actually selling. I have found that developments like these keep their listing prices high but will often accept much lower offers. They don't like making it known that they negotiated so low, but a realtor like myself can find out where theree true bottom line is with a little work.

Give me a call anytime and I would be very happy to assist you in this purchase! Whatever you do, make sure you have your one representation to write the offer and do not use the listing agent or developer to represent you!

Jeffrey White
KW Beveerly Hills
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