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Home Buying in Norwalk : Real Estate Advice

  • All79
  • Local Info5
  • Home Buying30
  • Home Selling4
  • Market Conditions3

Activity 29
Fri Jul 24, 2015
answered:
You should ask the attorney involved. I have never had that come up.
0 votes 1 answer Share Flag
Fri Mar 20, 2015
Alex Montelongo Real Estate Group answered:
If you work with a Realtor, all of that information is available. If you are not working with a Realtor then I suppose you would have to go to the management company at the development and ask those questions.

Alex Montelongo/Broker
Coldwell Banker Star Realty
562-810-7387 Cell
BRE Lic #01456982
... more
0 votes 1 answer Share Flag
Wed May 21, 2014
Alex Montelongo Real Estate Group answered:
Your best bet is to work with an Agent or Broker. I know that nowadays people like to do their research online before contacting a Realtor. If you are still in the market please feel free to give me a call.

All the best,

Alex Montelongo/Broker
Coldwell Banker Star Realty
562-810-7387 Cell
BRE Lic #01456982
... more
0 votes 2 answers Share Flag
Wed May 21, 2014
Alex Montelongo Real Estate Group answered:
If you are still in the market I'd be glad to help you with your home search. Please give me a call.

All the best,

Alex Montelongo/Broker
Coldwell Banker Star Realty
562-810-7387 Cell
BRE Lic# 01456982
... more
0 votes 2 answers Share Flag
Tue Jul 9, 2013
Alex Montelongo Real Estate Group answered:
It is possible. Your Agent and Lender will have to be resourceful. There are programs out there that have silent second mortgages for qualified buyers up to $125k-$140k. I closed a transaction in Los Angeles through EHOP designed for Correctional Offficers with a silent second of $100k. It was a 3 bed, 2 Bath new construction Townhome built in 2010 and had never been lived in. That was pretty awesome. Anaheim has Lofts and Townhouses that give up to $125k as a silent second . One of the developments is called Harbor Lofts. Google it. All of the info is online.

I hope this helps.

Alex Montelongo/Broker
Coldwell Banker Star Realty
562-810-7387 Cell
DRE Lic#01456982
... more
0 votes 6 answers Share Flag
Tue Jul 9, 2013
Alex Montelongo Real Estate Group answered:
There are fewer and fewer short sales every day. The market is recovering. The process for a buyer is the same for any transaction. The short sale usually takes longer of course. It is usually the buyer who leaves the seller in most cases because of the wait time.
If you are looking to buy in Norwalk, Ca. and are available, I would be glad to answer any question that you have about short sales. I have closed many and I am a Short Sale Certified Broker.

Alex Montelongo/Broker
Coldwell Banker Star Realty
562-810-7387 Cell
DRE Lic#01456982
... more
0 votes 7 answers Share Flag
Tue Jul 9, 2013
Christopher Pagli answered:
Hi, I can recommend many agents in CT that would be willing to help, let me know if you want some names and numbers.

Chris
0 votes 7 answers Share Flag
Tue Jul 9, 2013
Alex Montelongo Real Estate Group answered:
Wow! The nerve of some people. If you did not agree to that in writing anywhere in the contract, then I would pursue a complaint to the Dept of Real Estate. Keep any emails or paper trails that would or could be used as evidence in your complaint. It sounds as if the Listing agent forgot to ask that you the buyer or your agent to pitch in on the short sale negotiators fee. Now that it has come down to the end , they are trying to re-coup some of the expenses. I would file a complaint whether you resolve this issue or not.

All the best,

Alex Montelongo/Broker
Coldwell Banker Star Realty
... more
0 votes 10 answers Share Flag
Tue Jul 9, 2013
Alex Montelongo Real Estate Group answered:
Its going to boil down to the CC&R's and Regulations set forth by the HOA. Typically, in Town Homes I have experienced owners to be allowed to have large dogs. Condos on the other hand... the general rule is that you should be able to pick up the dog and hold it in the elevator. That is usually the measure by which you can get away with. It is hard to determine the actual weight of a dog by looking at it. Good luck.

Let me know if I can be of service to you.

Alex Montelongo/Broker
Coldwell Banker Star Realty
562-810-7387 Cell
DRE Lic#01456982
... more
0 votes 3 answers Share Flag
Mon Nov 12, 2012
Morcos Azer answered:
Thank you Eden Lim, The company that you referred my client to fix his credit is working for him. He is very happy.
0 votes 6 answers Share Flag
Wed Mar 30, 2011
John Arendsen answered:
You can do an auction or a short sale. But your best bet is to do a pre foreclosure purchase if you can. That preempts all the above. Give us a call and we'll be happy to walk you through that process. ... more
0 votes 5 answers Share Flag
Wed Sep 8, 2010
Joe answered:
If the property is a regular sale the transaction will take more or less 20 days. If the property is a short sale or REO it will take longer. Pretty much having cash and a reasonable offer on the property will beat out FHA, and conventional buyers. Placing an offer on a Short Sale or REO you will still have to wait in line till the offer gets looked at.
Feel free to give me a call I’m a local agent.

Visit my web page www.realestateagentchef.com
... more
0 votes 6 answers Share Flag
Thu Jul 1, 2010
Lisa Bolanos JD answered:
Hi Frustrated,
It depends on the agent. However, the agent should present all offers to the seller. The agent may tell the seller that you backed out of a prior offer and the seller may get cold feet about dealing with you. I agree with Abe that honesty is the best answer. Let your agent do some of the work here and talk to the listing agent. ... more
0 votes 4 answers Share Flag
Thu Jul 1, 2010
Lisa Bolanos JD answered:
I tend to agree with Ted. I encounter this problem all the time. I believe it is unprofessional to not respond. How difficult is it to send an email if you can't pick up the phone . . . it is not like people are not connected to their cell phones 24/7 . . . Besides being unprofessional it is frustrating to potential buyers and it can give the impression that the agent is not doing their job.

I encounter this bad behavior with short-sales as well as bank owned properties. When a property is listed and the agent will not return the call, then I email. When they don't answer the email, I fax the office. When I don't get any response after numerous attempts . . . I believe the agent is just trying to double dip and does not want other agents showing the property.
... more
0 votes 21 answers Share Flag
Sat Jun 26, 2010
Lisa Bolanos JD answered:
Hi,
Short-sales can be frustrating and time consuming. When dealing with a short-sale, you should use a Realtor who is a short-sale specialist.
I do quite a few property valuations and it is common to get an order for an interior inspection on a short-sale a few days before it is scheduled to close. I have seen deals fall apart because there has been a substantial change in the market conditions.
I do know that every lender is different and the only thing that is certain is that short-sales are not short. Good luck with the transaction. Again, you should look for a certified short-sale specialist.
... more
0 votes 3 answers Share Flag
Thu Apr 1, 2010
Emelia Sanchez answered:
This is a great program, you need to buy a home that is in your school district. So the location of the school you work at would determine the area you can purchase the home. That is only if you want to use the Teacher next door program. You can buy a HUD home anywhere the requirement $100. as a down payment + $2000.00 cashiers check for initial deposit, For the Teacher next door you must qualify for the full amount of the listed purchase price even though it would be costing you 1/2 of it. ... more
0 votes 4 answers Share Flag
Wed Dec 16, 2009
Other answered:
Fox Blake,

There are many mortgage companies out there. Brokers, direct lenders, banks, and credit unions. Some are good and some are not so good. A good start is a referral from a friend, family member or professional like a realtor, cpa or attorney. You can check out the company in question by finding out who the licensing agency is for that lender. For instance the Department of real estate or department of corporations. Then see if there are any complaints or unresolved issues. Another place to check is the BBB. That would be a good source... Hope this helps a little and I wish you success in your loan quest. Sean ... more
0 votes 3 answers Share Flag
Wed Aug 19, 2009
Michelle Gonzalez answered:
Hello,
Unfortunately, short sales are anything but short. There really is no way of finding out anything sooner. The bank will respond in their own time frame. All banks have different time frames and every sale is unique. It's up to you if you want to wait it out. I have seen buyers wait and wait only to find out they got beat out by another buyer, or they found out the bank approved the sale but at a higher sales price. If you would like more information, please feel free to give me a call and we can discuss your options.

Michelle Gonzalez DRE# 01427179
Michelle@selectremax.net
RE/MAX Select
562-572-5224
... more
0 votes 2 answers Share Flag
Wed Aug 19, 2009
Michelle Gonzalez answered:
Hello,
Congratulations on taking the next step to becoming a homeowner! We are familiar with both builders and have worked with them in the past. Please feel free to give me a call so we can discuss your options. Our office is located in Cerritos so we are local. In between Norwalk & Buena Park. I look forward to hearing from you. ... more
0 votes 6 answers Share Flag
Tue Aug 18, 2009
Shel-lee Davis answered:
Frustrated:

I feel your pain. I have clients that bid $30K over asking price on a house in Norwalk that got 54 offers. No Joke!!! 54 offers. And that was in 3 or 4 days. But you should remember, it is not the asking price that sets the market, it is the market price (the price that a willing buyer and a willing seller would pay for a similar house). Some banks are intentionally listing low to create the type of feeding frenzy we saw on this home.

There are a lot of buyers out there and inventory is down. And so many are focused on that $8,000 tax credit that they are making obscene offers on home. My only caution is, make sure you are not paying over fair market value for a home. Your agent will be able to help you set a reasonable expectation for fair market value. Even though you really want to buy right now, overpaying for a home is what got so many people into the foreclosure mess to begin with. And the sellers are getting smart. Some are requiring you to sign an addendum that states if the appraisal comes in low, you will close the difference in cash ! ! ! Can I say CRAZY ? They are basically asking you to waive your appraisal contingency from the very start of the transaction.

As my broker so nicely told me, right now the REO Banks hold all the cards and write all the rules. Even though they appear unfair and/or discriminatory, no one is taking them to task over their practices so they just keep on doing what they are doing and getting worse with every passing day.

When the buyers and the real estate community revolt against this abuse, we might find that cooler heads and fair market values prevail. Until that time, make your offers based on what you are reasonably willing to pay for the home and don't allow yourself to get frustrated. Your home is out there at the right price for you. Dare to Dream.

Shel-lee Davis, CDPE
Your Real Estate Consultant for Life
RE/MAX Palos Verdes Realty
DRE #01817412
http://shel-lee.listingbook.com
... more
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