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Home Buying in Monterey Park : Real Estate Advice

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  • Local Info0
  • Home Buying12
  • Home Selling0
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Activity 15
Thu Jun 16, 2016
June Buerkle answered:
The lender is going to ask for at least 3 months of bank statements and ask about all deposits.

Legally, you can not use borrowed money for the down-payment on a mortgage. (Except for 401K loan ... which is technically a loan from yourself)

If the money ages in your account 6 months ... then no questions will likely be asked about it's origin.
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0 votes 1 answer Share Flag
Fri Apr 10, 2015
Matthew Silva answered:
Hello Mikey,

The best way to find housing trends and what is selling or not selling in the area is to use the "Your Neighborhood" feature on my website www.realprolific.com/ClientSellersCorner

What this will do is show you what is for sale, whats selling and what is not. If you want to stay up to date the system will provide you with monthly or quarterly updates to your local market. You can also check out surrounding areas like Alhambra or Montebello.

Feel free to contact me if you have any other questions.
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0 votes 5 answers Share Flag
Fri Apr 10, 2015
Matthew Silva answered:
I have financing options with no questions asked. As long as you have the down payment, I can get you a loan through one of the many lenders I work with. It's all about the rates and terms that you will feel comfortable with.

The reality is you can not have it all. If you have excellent credit, job history and down payment you will get the best rates and terms.

If you are weak in any of those 3 areas (job history) expect to pay higher rates or be outright denied by most banks.

When working with a professional such as myself expect them to have a number of resources to get a loan. If you are sincere and would like to buy a home, I would be glad to sit down with you and get you in a position to buy the best properties on the market.
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Thu Jan 2, 2014
Shane Stebner answered:
It's dead simple if you use NoMoreAgent (dotcom). I love their service!
0 votes 11 answers Share Flag
Sat Apr 20, 2013
tenchi answered:
thank you @ Cindy, for your kindly advice. as far as price-wise, i don't feel there's any room to negotiate, every house i am interested in...all had multiple offers (10-15-20's plus offers), my agent told me if anyone who makes more offer than me then that person must be crazy, and yet here i am .....3 months later, still searching..... (and i do make strong offers, $350k cash down, $100k new loan)...perhaps its time for me to find a seller agent who can at least tell me how much to offer and point me at right direction....sigh.. ... more
0 votes 6 answers Share Flag
Fri Mar 29, 2013
Esther Cheng asked:
I have a client wanted to buy a unit in the senior apartment on 120 N. Moore Ave. Monterey Park. Please contact me if you have someone, who want to sell his or her property in this apartment.…
0 votes 0 Answers Share Flag
Sun Mar 17, 2013
Russ Ravary answered:
Sun Mar 17, 2013
Russ Ravary answered:
Keys areshe on the last loan, is it a FHA loan, and is this going to be her primary residence?
0 votes 3 answers Share Flag
Mon Jun 4, 2012
Amber Yu answered:
Great question! We will definitely have to narrow down the locations, budgets and lifestyle.

For example, as actively working in San Gabriel Valley, most of my buyers who are in their 30-50's with kids, budget from 500-800k - school district is usually their primary concern and they do prefer a bigger yard for the kids to play, they will also want an functional/open kitchen and school district is important. Most of them are open to remodeling so they are not picky with amenities.

For the buyers who are young professional or retirees, then they do want a nice remodeled home with nice kitchen, attached garages, convenient location and yard usually is not a concern.

I'll be happy to do a more in depth analysis if you can provide more details. Thanks.
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1 vote 4 answers Share Flag
Thu Dec 1, 2011
Rudi Hofmann answered:
It is your loan officer's job to know why this is taking so long. He should be communicating with your escrow officer and the lender's funding department. After signing your closing docs it usually doesn't take more than three days to fund, which would include a final funding audit. Since you loan officer can't, your escrow officer should be able to give you the reason for this delay. Good luck.

Happy funding, Rudi
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0 votes 3 answers Share Flag
Mon Sep 26, 2011
Dorene Slavitz answered:
Dear Cc Wong,

Unless this is a Senior Development or a small property where the owner resides, this practice or restricting children has been illegal for 20 years!

It is illegal for housing developers, landlords, and even homeowners associations to deny housing to families with children or to place unreasonable restrictions on children.

My advice is to read the fair housing laws located on the H.U.D. website at http://portal.hud.gov.

Best of luck to you!
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0 votes 2 answers Share Flag
Wed Aug 11, 2010
Frederick Murga answered:
Dear Aileen

You should know that this home is actually an office, not really a home. The price $38,757 you saw may be the lease for a year. The values in Monterey Park is a way higher than offers like this. Not all the agents write the right information in their ads.

Frederick Ortiz
Broker
(626) 712 6422
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0 votes 6 answers Share Flag
Sun Feb 28, 2010
Sylvia Barry, MAS,CIPS,SRES answered:
Hi Tom -

Make an offer for $300K on the house and put an addendum in the contract asking for $5K back towards all closing costs. It's is in the contract you submitted and the lender should be fine with that.

Best,
Sylvia Barry
Marin Realtor
(415) 717-0293
www.MarinHomePreview.com
Short Sale Specialist
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0 votes 3 answers Share Flag
Sun Feb 21, 2010
Harold Sharpe answered:
In the beginning you hopefully will get your contract signed by the seller,
then you have to await the bank(s) response.
This can take anywhere from 3 weeks to 5 months on average.
Then you can expect yourself to go through all sorts of emotion.
If you cannot set it aside this may be tough.
The bank then may get back to the listing agent with some sort of an answer with some crackpot demands like they want to close in 10 days.
The bank will expect you to have done all of your inspections, and as the buyer you get to pay for those and your appraisal. all without any guarantee the bank will even respond that they will or will not do anything. Don't worry though on average 12.5% go through or 1 in 8. The other 7 out of 8 get lost in the shuffle. That means while your deposit is at stake, you will shill out on average 400 for a home inspection and another 400 for an appraisal. That is if you decide not to do additional inspections.
Then you get to worry if the sellers will actually leave their home that most likely they haven't made a payment in a year or so.
There is nothing like buying a home with squatters in it.
Then you get to worry about whether the sellers take things they shouldn't out of the home when they do leave.
I am sure if you have any questions your agent will walk you through it.
I'm sure your agent is a great buyers agent he will write a contract to make it so you wont have most of the problems I mentioned above.

I wish you the very best

Harold Sharpe
So Cal Homes Realty
(951) 821-8211
CA DRE License 01312992
Broker,
REALTOR®,
Graduate REALTOR® Institute,
Real Estate Masters,
Certified Distressed Property Expert,
Green,
e-Pro,
harold@socalhomesrealestate.com
http://www.socalhomesrealestate.com
http://www.facebook.com/profile.php?id=100000807660841
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0 votes 8 answers Share Flag
Sat May 2, 2009
M.D.J answered:
More information is needed to give you a more precise answer so if you like feel free to contact me.

Good luck to you.
0 votes 3 answers Share Flag
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