looking for foreclosed property to purchase with a VA loan Ventura, Camarillo or Simi area

Asked by Beverly Huffman, Ventura, CA Fri Nov 8, 2013

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Jimmy Vercel…, , Phoenix, AZ
Sat Nov 9, 2013
BEST ANSWER
HI Beverly,

Getting a VA offer accepted on a home does not have to be as hard as others say. Please take a moment to watch my video that I put together below on increasing the likelihood that your next VA offer is accepted my the seller.

http://www.valoansforvets.com/4-ways-to-get-a-va-home-loan-o…


I am a Marine Corps Veteran that specializes in VA Home Loans. My business is simple- Serving those that have served.

Feel free to have a look at my website at http://www.VALoansForVets.com most of thank you for your service to our great country.

With gratitude,
Jimmy Vercellino
1 vote
Thank you for being the light in the room of gloom, seems as though rather than trying to help Veterans, most realtors would rather paint a dark picture for anyone that is proud to have earned the opportunity to use the benefits afforded to those who serve. It really does open ones eyes as to what direction this country is headed. So sad. America sure is not the proud country it claims to be, at least there are still a few of us Proud American's left. I will look for an agent that is proud to help those who serve, I know I will find someone, because showing integrity and service to others is often more important than getting the biggest check, as it results in more business and greater respect.
Flag Sun Nov 10, 2013
Laura Coffey, Agent, Santa Clarita, CA
Sat Nov 9, 2013
Foreclosures have slowed down considerably over the last few years. Standard sales are the norm. When I hear people say they are looking for foreclosed property it usually means they are looking for a good deal.
Good deals do not need to come in the form of a foreclosed home. Your best bet is to find a full time professional Realtor that can help you find the right home for the right price. In the areas you are looking into anything under $550K gets gobbled up quickly. You need someone with great connections that can get you what you need.
Good Luck.
1 vote
who isn't looking for a good deal? nothing wrong with that, lol..truth is real estate prices, especially in the areas I have been looking are indeed way over priced, and I am sure there are some people out there that still have integrity, and no I am not saying that people shouldn't get a fair price, but you know as will as I do that a 1000 sq ft home needing work is not worth 350,000 +...heck it isn't worth 100000..but fools will pay it..forcing an over-inflated market higher... so yes I am looking for a "deal", may have to take my business private and forget the middle man...determined.
Flag Sat Nov 9, 2013
Barry Shapiro, Agent, Camarillo, CA
Fri Nov 8, 2013
Hi Beverly,
Foreclosed properties tend to need a degree of renovations, and (therefore) oftentimes may/will not qualify for a VA loan. The 'great deals' that once were on REOs (real estate owned by the bank) are generally no longer the case, at least not locally in Ventura County. Try to avoid Fannie Mae REOs, which are over-priced, offering Home Path Financing. That is, unless you want to buy a home for over it's present value, and not have an appraisal issue. You next step should be to speak to a VA lender specialist, to determine a price bracket that you will qualify for. Keep in mind, getting a 'great deal' really only matters if you also plan to be living in the home. By the way, there are only TWO current foreclosed homes in all three cities (VTA, Simi and Cam) that will qualify for VA financing. They happen to be here in Camarillo, listed at $422,900 and $439,900 and both are Fannie Mae Homepath Properties.
1 vote
Thank you Barry Shapiro, I respect your willingness to help without trying to pontificate..
Flag Sun Nov 10, 2013
Yes, you are correct. Lower prices can be found in the Heritage Valley. Santa Paula, Fillmore and Piru are highway close to Valencia. Portions of east Ventura and Saticoy, as you know, are also quickly accessible to the 126. Your next step is to get pre-qualified and then go shopping. Thank you for your input Beverly.
Flag Sun Nov 10, 2013
Thank you for the feed back, yes I know foreclosed properties often are in need of great repair and will not pass va, but I also know that not all foreclosures need extensive work, Determination often leads to satisfaction..We are not opposed to looking in other ventura areas, just need a bit of info on those areas, ( Santa Paula, Fillmore any where between Valencia and Ventura, HWY 126...) Husband works in Valencia.
Flag Sat Nov 9, 2013
Brian Nguyen, Mortgage Broker Or Lender, Mission Viejo, CA
Mon Feb 10, 2014
Do you already have a lender for a VA loan? If not, I strongly recommend that you start speaking with lenders as soon as you can. There are lenders like myself that would be more than willing to speak with you. I have experience with VA loans and I would be glad to help you out. I have also done plenty of loans throughout California, so when you have a chance feel free to contact me. Good luck! Brian Nguyen Sr. Mortgage Banker Phone: 949.667.2887 brian.nguyen@nafinc.com
0 votes
, ,
Sat Nov 9, 2013
It will be extremely hard to got a bank to accept your offer with a VA loan. If there are 3 offers that are around yours, yours will be the last selected because of the VA loan. If you are serious about buying it would be better to look else where. But if you have say more then 6 months to make about 10 or so more offers then a foreclosure might work out for you.

Alex Greer
Loan Officer
NMLS #1056079
http://www.TheMortgageOutlet.com

408-352-5147
AGreer@TheMortgageOutlet.com
0 votes
I am in no hurry..
Flag Sun Nov 10, 2013
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