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95667 : Real Estate Advice

  • All16
  • Local Info1
  • Home Buying7
  • Home Selling4
  • Market Conditions0

Activity 14
A few minutes ago
Gary asked:
Grass Valley, Nevada City, Shingle Springs, Colfax, Loomis, Folsom, El Dorado Hills, Placerville, Auburn
0 votes 0 Answers Share Flag
Sun Oct 2, 2016
Bbpcash asked:
i am looking at a property for auction the address is 4821 victory mine rd Placerville ca 95667. there is no information on who the auction specialist is to contact them. do you have any…
0 votes 0 Answers Share Flag
Sun Jan 3, 2016
Following is the VA Escape Clause that is signed at the time of the VA contract.

“It is expressly agreed that, notwithstanding any other provisions of this contract, the purchaser shall not incur any penalty by forfeiture of earnest money or otherwise or be obligated to complete the purchase of the property described herein, if the contract purchase price or cost exceeds the reasonable value of the property established by the Department of Veterans Affairs. The purchaser shall, however, have the privilege and option of proceeding with the consummation of this contract without regard to the amount of the reasonable value established by the Department of Veterans Affairs. (Authority: 38 U.S.C. 501, 3703(c)(1))”

This could fall under this provision as the seller will not make the adjustments to the property to complete the appraised value.
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2 votes 3 answers Share Flag
Fri Sep 18, 2015
Derek Jones answered:
They do exist. There is roughly 20 that fit that criteria with the majority available in Placerville.
0 votes 1 answer Share Flag
Thu Sep 17, 2015
Pegprice asked:
Fri Jan 30, 2015
Derek Jones answered:
Mon Nov 3, 2014
Cindy Davis answered:
Hi Pert,

Realtors are legally limited as to what we an say about neighborhoods. We are restricted from calling one neighborhood good or the other bad.

There are numerous crime sites out there that will provide you with statistical data about a given location. You should also do your own homework...exploring different neighborhoods, looking for signs of blight, barred windows, etc.

Good luck.
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0 votes 1 answer Share Flag
Sat Dec 28, 2013
Kathie Robson answered:
Hi Shannon! We just recently moved up to the Placerville area from the Bay Area and will be opening our office the 1st of the year. I see you posted your question back in August, but it doesn't look like anyone responded to you? Are you still in the market for a home in Placerville now? I currently see 19 active listings for 2-3 bedroom homes in this area under $250K. Let me know if you'd like me to send you the listings for you to look at! Thanks and Happy New Year! ... more
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Sat Mar 5, 2011
Windowpainter answered:
my middle score is 635, they said the qualification for Homepath is now 660.
0 votes 11 answers Share Flag
Wed Jun 30, 2010
Gregorio Denny answered:
Disclaimer: You should consult an attorney for legal advice, I am not one.

Since the second is not purchase money, it's recourse and they can come after you for the amount. Even if they don't come after you, and charge it off, the IRS can see this as income and you may get the 1009 surprise come tax time. I'm not giving advice on what you should do, other than to say speak to your CPA and a lawyer before you decide.

Gregorio Denny
Tripoint Mortgage Group, Inc.
DRE# 01817727
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0 votes 3 answers Share Flag
Tue Apr 6, 2010
Donna Meyers answered:
Family reasons can be enough to create a hardship. I have done two short sales that were caused by family financial hardships. Itneeds to be explained to the bank in a way that makes sense.
You need to be behind in your payments and have tried to do a loan modification as part of the drill.
You will need to show all your personal financial paperwork to the bank as part of the approval process.
They may ask for updates as you move along, they are deciding who will stay the course. Some banks are easier to deal with than others and that is just the way it is. I have closed short sale listings for sellers with Homecomings, Aurora, Citimortgage, Wells Fargo, Bank OF America, River City, Golden One, and Chase. Every bank has there own methods of working through the process. I would be glad to show you the approval letters that I personally obtained for my sellers and talk with you in person.
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0 votes 5 answers Share Flag
Tue Sep 15, 2009
Donna Meyers answered:
I am also a landlord and there needs to be an agreement even verbal beforehand allowing you to maintain the yard. Does your lease or rental agreement have any mention of this situation? If not add this clause to your lease that you have the right to maintain the yard with advance verbal notice of at least 24-48 hours. At this point, have you contacted the tenant and had a conversation about this? If so document that conversation and tell them you will be there in a couple of days to maintain the yard. Best of luck! ... more
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Sat May 9, 2009
Anna Boyd answered:
You can always check with your lender, but in general, if you can afford to make the payments, even though the value has dropped, they have no incentive to do a loan modification. Your next move may be to stop making payments to force the issue, but as Tony said, you then will be affecting your credit scores.

There are many people I know in this catch-22. If you like where you live and can ride it out for a few years, prices will come back and go even higher. We just don't have the magic answer of "when".
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Tue Mar 31, 2009
Jeff K answered:
Hi Luke,

A short sale will really trash your credit (and hers too). Is there any way that the two of you can take money from IRA / 401K, etc. to make up the short-fall and sell it? It would be a real tragedy to demolish your credit if there's a way around this.

What are the current Sold comps for that home? That's the best indicator of what it's worth, regardless of the appraisal. Perhaps things aren't quite as bad as they might seem? I hope so for you!
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