Trulia Community - Advice from neighbors and local experts

Find Your Community
We couldn't find that location. Please try again.
Get Expert Advice

Lynwood : Real Estate Advice

  • All23
  • Local Info1
  • Home Buying8
  • Home Selling2
  • Market Conditions0

Activity 17
Fri Mar 10, 2017
John Carrillo asked:
Mon May 23, 2016
Sheryl Arndt answered:
Hello Maria, you did not include a link or address to know what rental you are inquiring.

The inventory for rentals is quite low in the mls. There is a 2bd 1ba apartment for $1,300 a month rent in 92602 zip code of Lynwood. You should check with the local rental management companies for their inventory as well.

The purchase in 92602 zip code start from 389k for 1bd 1.5ba condo and up. 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.

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.

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 decide to buy you will need to be pre-approved to be able to meet an agent to submit offers on homes of your choice. You will need to gather documentation such as one month paystubs, two month bank statements, last two year tax returns, 1040's, 1099's, W2's and all schedules, copies of drivers license/ID and social security card 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.

You may qualify FHA from fico scores between 500-579 with 10% down or minimum 580 fico score may qualify FHA 3.5% down. You may consider a 3%-5% Sapphire Grant down payment program up to 417k from a minimum 620 fico score which does not have to be repaid.

It only takes a few dozen questions to qualify, go over your options and email you listings to study and consider. Here are some links to study about me as well as web reference links to many loan programs...

Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
Veteran & VA or CalVet loan specialist
REO & Short Sale Specialist
Credit Repair At No Cost
ALL Loan Programs Available
24+ Years Experience
BRE# 01140252
NMLS# 297251
760-486-4225
9am till 5pm by phone Monday thru Saturday, Sundays by appt., EMAIL ANYTIME 24/7
Under640FicoScoreLoans@gmail.com or HomeLoans4U@live.com
http://youtu.be/MrygA2_8fAY
http://www.trulia.com/profile/SherylArndt
... more
0 votes 2 answers Share Flag
Thu Dec 18, 2014
Alex Montelongo Real Estate Group answered:
From the previous comments from the lenders in this forum, It looks like the odds are in your favor.
You may need a Broker to help you find your property. When you have the time, please give me a call. I'd be glad to assist.

All the best,

Alex Montelongo/Broker
Coldwell Banker Star Realty
562-810-7387 Cell
BRE Lic #01456982
... more
0 votes 6 answers Share Flag
Thu Dec 18, 2014
Alex Montelongo Real Estate Group answered:
The length of time depends on your ability to secure a loan, a property, your lenders abilities, your agents abilities, the current marketplace, etc. Usually from beginning to end the process takes as little as 60-90 days but can take longer in some circumstances. Do you have a Broker or Agent that you will be working with? If not, call me and I can explain the entire process from the very beginning. There is never a "dumb" question. By the time you have completed your first purchase, you will know so much about Real Estate that you will be giving pointers to your friends and family.

All the best,

Alex Montelongo/Broker
Coldwell Banker Star Realty
562-810-7387 Cell
BRE Lic #01456982
... more
0 votes 6 answers Share Flag
Thu Dec 18, 2014
Alex Montelongo Real Estate Group answered:
Compton and Lynwood both require a pre-sale inspection. Im surprised that it wasn't caught earlier. I would look into it more and make sure that the improvements are illegal before doing anything.

Alex Montelongo/Broker
Coldwell Banker Star Realty
562-810-7387 Cell
BRE Lic #01456982
... more
0 votes 4 answers Share Flag
Thu Dec 18, 2014
Alex Montelongo Real Estate Group answered:
Your fico scores are too low. Start rebuilding your credit and you will be on your way to homeownership before you know it. I have been hearing of this company called Lexington Law that helps people with their credit issues. I know of people that are benefiting from this service. Maybe they can help.

All the best,

Alex Montelongo/Broker
Coldwell Banker Star Realty
562-810-7387 Cell
BRE Lic #01456982
... more
0 votes 7 answers Share Flag
Sun Nov 11, 2012
Berna & Chris Sloan answered:
Homes that the seller owes more than what i owed against it.
0 votes 4 answers Share Flag
Tue Aug 21, 2012
Kim Glass answered:
Hi leeann312004,

I ran a simple search on Trulia's Rentals page with a price limit of $1,000. Look at the current results here:
http://www.trulia.com/for_rent/Lynwood,CA/#for_rent/Lynwood,CA/0-1000_price

Hope that helps!
-Kim, Community Manager
... more
1 vote 1 answer Share Flag
Fri Feb 17, 2012
Emily Knell answered:
Yes, let DJ send you rentals, this way you'll know they're not scams. If you do search for rentals on your own through websites, even on Trulia (try as they might the scammers still leak through), please click on my profile & read my 2 blog postings called "RENTAL SCAMS - RED FLAGS - PUBLIC BEWARE" .

I don't look back on this same Trulia thread for answers posted after mine.

EmilyKnell1@yahoo.com
562-430-3053 c
Realtor Since 1996
Main Street Realtors

P.S. We don't sell hoses, but we know what you mean. :)
... more
0 votes 2 answers Share Flag
Sat Sep 24, 2011
Harold Sharpe answered:
Edna,
Tell the city to talk to their GRANDFATHER about it.
If that does not work request a VARIANCE.
If that doesn't work, consult with a real estate attorney.

Harold Sharpe - Broker
So Cal Homes Realty
(951) 821-8211
harold@socalhomesrealestate.com
http://www.socalhomesrealestate.com
California Department of Real Estate Broker License # 01312992
... more
0 votes 4 answers Share Flag
Thu Aug 26, 2010
Matthew Bartlett answered:
HI Yolanda,

The standard California Residential Purchase Agreement states on Page 3 of 10, Section 5, Sub-Section C Letter (i) Property shall be vacant at least 5 days prior to Close Of Escrow, unless otherwise agreed in writing. NOTE TO SELLER: IF YOU ARE UNABLE TO DELIVER PROPERTY VACANT IN ACCORDANCE WITH RENT CONTROL AND OTHER APPLICABLE LAW, YOU MAY BE IN BREACH OF THIS AGREEMENT.

The question is Yolanda, what did your Purchase Agreement reflect with regards to the Tenants? I recommend that you speak with your Agent & your Broker to get a clarification regarding this matter right away. Your Agent should have explained this to you before you signed the Purchase Agreement and clarified the status of the Tenants with the Listing Agent during your 17 day Inspection period. I also recommend that you speak with a Licensed Real Estate Attorney to further protect your families best interest. Good luck!

Matt
... more
0 votes 3 answers Share Flag
Mon Mar 1, 2010
Monique & Joe Carrabba answered:
Hello Like,

That information is confidential. If you are the new tenant it is likely the buyer will contact you. If you are the tenant I would advise confirming they show proof they are the new owner if you are making rent payments.

Best,

Monique Carrabba
The Carrabba Group
Keller Williams Hollywood Hills
mcarrabba@kw.com
(323) 899-2900
... more
0 votes 2 answers Share Flag
Fri Sep 25, 2009
Nicholas answered:
Marvin is correct, you can do it as soon as you would like. Make sure that your loan has no prepayment penalty (not sure if anybody offers those anymore) that would penalize you should you refinance. Also please note that if it is within 1 year, the bank would use the lower of the sales price or the new appraised value to calculate the loan to value ratio. So just because it appreciated in that time does not mean that you would be able to take cash out. ... more
0 votes 4 answers Share Flag
Sat Jul 25, 2009
Robin Silverberg answered:
When the loan is recorded doesn't make a difference. You are not getting the loan for improvements overnight, and if you are thinking about a home equity loan, you are going to have to prove you own the property. What are the details of the purchase? What is the purchase price of the property, and how much is your loan for? You are going to have to qualify to begin with, so whether you deed and mortgage have been recorded is not the issue here. ... more
0 votes 1 answer Share Flag
Wed Jul 1, 2009
Ben Nicolas answered:
If you qualify for the extended credit you will get the exteneded credit... you won't get both

I think your question is more re: whether or not you will qualify and since the extended credit hasn't passed yet the guidelines for qualification are not released... ... more
0 votes 1 answer Share Flag
Thu Jun 18, 2009
Steven Ornellas answered:
Hi Juan,

There's a good reason why the REO flow is at a trickle right now; however, look to the end of summer for noticeably more REO supply.

Lenders/Banks put the brakes on foreclosures during the later part of 2008 due to Federal, State and self-established moratoriums. Then came the announcement of the President’s housing recovery plan. As soon as banks/loan servicers heard a plan was in the works they had additional reason to throttle back on the foreclosure process. That all ended in March after the plans) were announced in late February 09 - there wasn't much for the Banks/servicers to be excited about. Since then, Banks/servicers shifted their Notice-of-Default and Notice-of-Trustee Sale machines into overdrive. The foreclosure process takes about 3 months, 3 weeks and 3 days (starting with the NOD). So look for a healthy spike in supply around the end of this summer. This is the so called "REO Shadow Inventory" you may have heard of.
http://docs.Steven-Anthony.com/REO-ShadowInventory.pdf (Article on backlog)

As Dunes, pointed out below, this Monday (6/15/09) CA added a new 90-day moratorium on home foreclosures in California. Personally, I think this is more political posturing than effectual in stopping the foreclosure process. Here's the key: Lenders and loan servicers that already have a comprehensive and systematic loan modification program in place are EXEMPT FROM THE LAW. Now take a look at who is exempt: (some of the largest in the Nation):
http://docs.Steven-Anthony.com/90DayExemptLenders.pdf

So, just how effective is this new law? Not very much in my opinion.

Note: This new law does not change separate legislation that requires lenders to wait 30 days before filing a notice of foreclosure after first making initial contact with a borrower who has missed several mortgage payments.

As you plan your purchase you need to be watching interest rates closely. Please refer to the link below for a prior post I made on this subject.

Best, Steve
http://www.Steven-Anthony.com
... more
0 votes 7 answers Share Flag
Thu Aug 21, 2008
Dorene Slavitz answered:
Although you might not get as much as you hoped for your home in this market..you will be able to purchase a larger home for less then you would have expected. If you would like to move, there are many homes to choose from on the market right now, with sellers who are very motivated ! ... more
0 votes 8 answers Share Flag
Search Advice
Search
Lynwood Zip Codes

Followers

251