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Home Buying in Inglewood : Real Estate Advice

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  • Local Info10
  • Home Buying21
  • Home Selling1
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Activity 23
Sat Aug 12, 2017
Vicki Lau asked:
Hey all!

I am looking to connect with anyone who are or who might know someone who is a real estate agent/ broker who deals with condo/ multi-family type (duplex, triplex) properties…
0 votes 0 Answers Share Flag
Fri Jul 21, 2017
Kathy Burgreen answered:
Yes it's perfectly legal for realtors to take back an offer because that's all it is - an offer. Do you have anything in writing in your contract that states specifically that your realtor will be REQUIRED to pay your closing costs with no conditions? I don't think so because there is NO way any realtor would approve of this. It takes money out of their paycheck.

You need to know that your realtor was trying to help you out and doing you a favor. It does NOT mean this realtor was "guaranteeing" the closing costs payment. Since the appraisal is much lower, the realtor will be losing money and in order to come out ahead, the deal is off. You need to pay your own closing costs.

What really concerns me is WHY are you buying a home in the first place - especially a home that you cannot afford? You are in way over your head. The best way to buy a home is to have at least 5% down payment + cash to pay your own closing costs. You need to buy a cheaper home - one that you can afford. Buying a home is not a cheap thing. Not meant to save you money. You will have expenses with ownership.
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0 votes 2 answers Share Flag
Wed Jul 5, 2017
answered:
Hello Dflyingdove, I am afraid you did not include an address or link to know which property you are inquiring about? Are you looking for a condo, townhome or single family residence or a duplex?

I do not find the duplex with 3bd 2ba and 2bd 1ba you mention. There is a duplex with 2bd 1ba and 1bd 1ba from 549k, triplex with 3 1bd 1ba units from 499k and a fourplex with two 3bd 1ba and one 2bd 1ba and one studio unit from $1.2m in Inglewood.

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.

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 and you can be emailed listings to fit your search criteria. Your fico scores can be raised within 3-4 days in most cases to qualify for programs, rates and terms as necessary.

Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
Veteran and VA/CalVet Loan Specialist
Credit Repair Advice At No Cost
ALL Loan Programs Available
24+ Years Experience
BRE# 01140252
NMLS# 297251
... more
0 votes 2 answers Share Flag
Mon Nov 21, 2016
answered:
Hello Rmb, yes you may. 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.

Do you have down payment and closing costs or do you need down payment and closing costs assistance? 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.

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 417k. 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 417k.


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 you can be emailed listings to fit your search criteria. Your email address is needed to set you up for the automatic daily updates.

The purchase in 90301 zip code of Los Angeles start from 279k for 2bd 2ba condo and 429k for 2bd 1ba single family home.

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 2 answers Share Flag
Tue Jul 28, 2015
answered:
You need to contact your CPA.

I do not check replies, so if you have a comment or question email me here:
AGreer@TheMortgageOutlet.com

Alex Greer
Loan Officer
408-352-5147
NMLS #1056079
http://www.TheMortgageOutlet.com
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0 votes 1 answer Share Flag
Tue May 12, 2015
answered:
Well if you are going to move into the property then no problem. As pointed out below you can get a FHA loan, you have the 3.5% down or the higher priced .5% down. It is only available if you move in.

If on the other hand you want it as a invest property, we have get really creative and negotiate that with the seller.

Give me a call if you want help with that. 714-968-2500
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0 votes 4 answers Share Flag
Mon May 4, 2015
answered:
Do you have someone that can co-sign a mortgage with you?

I do not check replies, so if you have a comment or question email me here:
AGreer@TheMortgageOutlet.com

Alex Greer
Loan Officer
408-352-5147
NMLS #1056079
http://www.TheMortgageOutlet.com
... more
0 votes 1 answer Share Flag
Mon Jan 12, 2015
Calvin James answered:
There is really to much variance for me to give you an accurate answer. I would get in touch with your local contractor and get a quote from them. It wouldn't be a bad idea to talk to multiple contractors as well. This way you can make sure you get the best deal! That being said though, don't just pick the cheapest contractor, make sure you find one that will do a fantastic job! http://www.sierraremodeling.com/cabinets-bathroom-kitchen-remodeling-cochise-county-az/ ... more
0 votes 7 answers Share Flag
Sun Feb 16, 2014
Sonia Gardiner answered:
I do have a listing for investor or large family, but it's not your client price range. It's located in Hawthorne and tenant are paying $2600.
Thanks
Sonia Gardiner
Berkshire Hathaway HS
310-995-1464
tinte2000@yahoo.com
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0 votes 3 answers Share Flag
Fri Dec 6, 2013
Jennifer Fivelsdal answered:
Depends on the mortgage product, the lender would be the best person to answer this question.
0 votes 11 answers Share Flag
Wed Dec 4, 2013
John Arendsen answered:
Thu Aug 29, 2013
Brian Nguyen answered:
This is hard to answer completely because lenders like myself, not only look at your income but other factors as well. We look at things such as your credit score, expenses, assets, liabilities, debts, along with your income. In order to figure out if you can afford to purchase a condo it is best seek a pre-approval. A pre-approval will let you get a better idea of what you can afford once you speak with a lender as well. I have given a lot of loans through out California and I would certainly be willing to help you out as well so give me a call.

Well I hope this helps! If you have any further questions or if you need a loan, feel free to contact me. Also, if you found this helpful please leave me a recommendation if you can!

Good Luck!

Brian Nguyen Sr.
Mortgage Banker
NMLS # 659743
Phone: 949.667.2887
brian.nguyen@nafinc.com
... more
0 votes 8 answers Share Flag
Mon Jul 29, 2013
Shirley Smith answered:
Yes! Even if the lender does not request a termite report on loan conditions, they should. I always follow the procedure according to our California Association of Realtors. My doing so, I am protecting the seller, buyer, agent (s), real estate office, etc. from possible future litigation. ... more
0 votes 9 answers Share Flag
Tue Jan 29, 2013
Steven Ornellas answered:
Hi misterricc,

In CA I have been told there are basically two types of termites: Drywood (brown in color) which colonize within the home's wood members, and Subterranean (black in color), which harvest wood pulp and take it back into the ground to grow microscopic mushrooms as a food source. Both do fly during “swarm season”, but each is treated differently as far as infestation.

To be 100% sure a Drywood termite issue has been addressed you need to tent. There are companies that spot-treat; however, I still have doubts about this method.

Because it leaves no residue, sulfuryl fluoride (aka “Vikane” and there are others gases) is commonly used for termite tenting; nonetheless, this provides no protection from future infestations. Sulfuryl Fluoride works by simply blocking the absorption of nutrients to the termite while the tenting is occurring. It is common to see a temporary increase in ant activity after a tenting as the ants will go into the termite tunnels and "harvest" the prior occupants. Re-infestation can reoccur at any time once the tenting is completed but more likely to occur during the “swarm season” in the spring months. In fact, if you are home during a Spring rain that is followed by bright sun you might be able to see the flickering reflection of the Sun as it hits the termites wings in flight – I know, not a heart-warming recreational activity, but it would help to decide when to call the termite company again.

All things being equal, I would pick the longest warranty provided; however, note that the warranty is only of value if you can determine a termite issue is again present before the warranty runs out. Of course, you could also schedule a re-inspection before the end of the warranty to be conservative.

-Steve
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0 votes 2 answers Share Flag
Thu Nov 15, 2012
The Johnson Group answered:
The first step is to get pre-approved for a home loan to see what you can afford. Next is to contact us and we'll help you find that home!
0 votes 7 answers Share Flag
Wed Nov 7, 2012
Michelle answered:
I've made a few offers on homes in LA last year and I was always outbid. I worked with an agent and feel it is time to move on. Condos are becoming more attractive to me and I feel they may be easier to get into with the small price range I'm dealing with. This agent was a friend of a friend and kept telling me to stay away from condos. She doesn't seem interested in helping me now that I've given up on homes so I need another agent. BOFA already sent me updated preapproval docs so I'm ready to start fresh. Can anyone recommend a buyer's agent near me? What do you think about a condo since my rent is pretty much the same as a mortgage.. just to get my feet wet? Thanks for any replies ... more
0 votes 4 answers Share Flag
Wed Nov 7, 2012
Michael Magaw answered:
Yes, it is possible, but it all depends on the circumstances of the people. This is best dealt with one on one. Call me to discuss.

Michael Magaw
310.259.6850
0 votes 5 answers Share Flag
Fri Oct 19, 2012
Allison Fishwick answered:
If you are in an exclusive buyer's agency agreement you should state your concerns about the service and ask your agent to get out of it. If they do not oblige, you should ask to speak to their manager. Just as in a retail store - like Gap - if you are not satisfied with an associate, you ask to speak to a manager. If they are not servicing you in the best way possible or they are preventing you from participating in deals that work - they themselves, or the manager should be able to contractually release you from this.

Good luck!
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0 votes 11 answers Share Flag
Sat Apr 10, 2010
Marlon Young answered:
You can find a buy of this nature that is not a fixer upper in Inglewood/Lennox, Compton, areas of Long Beach, and Lynwood. You are limited very much so in Hawthorne and in Gardena. Gardena does not usually have many multi-family homes like duplexes. The ones in Hawthorne are a best buy but they are $300,000 and up -depending on if you are near Crenshaw Blvd. or if you are near Imperial Hwy. area.
Torrance and Carson you need more money to work with to get something decent. Come with $300,000 or a little more and you can deal in most of these aforementioned cities.
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