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Rosemead : Real Estate Advice

  • All14
  • Local Info1
  • Home Buying4
  • Home Selling0
  • Market Conditions3

Activity 15
Tue Feb 16, 2016
M. Marrow asked:
Fri Dec 11, 2015
Rich Reed answered:
In my opinion, most properties that are marketed as "rent to own" are trying to take advantage of unsophisticated buyers/tenants and sellers/landlords. RTO is hyped to would be real estate investors as a type of "get rich quick" scheme and to potential homeowners as a way to overcome credit problems. Rent to own transactions done by a legitimate Realtor are leases with an option to purchase and are three contracts: the lease, the option, and the purchase agreement. You should look for a Realtor familiar with leases with option to purchase transactions. If both parties are represented by Realtors then it is probably legit, otherwise I would advise extreme caution and due diligence! ... more
0 votes 1 answer Share Flag
Sun Aug 10, 2014
Susan Bo'ur answered:
I'd be happy to help.
What is the address?
Susan Bo'ur
Realtor/Coldwell Banker
Susan@SusanBour.com
0 votes 5 answers Share Flag
Mon Sep 30, 2013
carlos parrague answered:
Hard to tell. Short Sales can take a long time. I have been involved with some that, even once approved, eventually get denied. So keep looking.
0 votes 4 answers Share Flag
Mon May 13, 2013
carlos parrague answered:
Hard to answer this, What is the question?
0 votes 1 answer Share Flag
Mon Sep 24, 2012
Carl Heldmann answered:
Though I am not a fan of Tear Downs, they are sometimes inevitable. Read my House Tear Down article carefully!

Tearing down a house is not that expensive. It depends a lot on local regulations. An excavating contractor can give you a bid...get three bids and their references.
There is a link to free, easy to use cost estimating software to determine the approximate cost to rebuild a new house.You will also find a short, fascinating "tear down" video a the end of the article.

A NOTE OF CAUTION!! Don't tear down a house that is financed and has a mortgage on it without getting written permission from the lender or paying off the loan first! It's illegal.

Carl Heldmann
... more
1 vote 3 answers Share Flag
Wed Sep 12, 2012
Dorene Slavitz answered:
Dear Ugoigo,
Well, the question would be, do you have to sell this property at a loss now? Can you wait to see how the market balances in the near future? Economists do predict that we are now in a recovery, but it will take time and it will be slow. It all depends upon you and your personal situation. ... more
0 votes 2 answers Share Flag
Wed Sep 12, 2012
Alison Hillman answered:
Hi Aidee,

I am happy to help you start your hunt for the perfect home for your family.

Here is some basic information about the El Monte area:

http://www.trulia.com/real_estate/El_Monte-California/market-trends/

To get started searching for homes, take a look at our search tool:

http://www.trulia.com/CA/El_Monte/

Happy hunting!,

Ali, Community Manager
... more
0 votes 1 answer Share Flag
Thu Jul 14, 2011
Joe Nernberg answered:
These are great and sensible posts. I strongly recommend you visit the building department. In my experience, the municipal inspector wants to help you build safely. If you ignore the advice here, then the cost to remove or repair will be substantial. Hazard insurance claims will be denied for unpermitted work. Once you buy this home - you own the problems too. ... more
0 votes 7 answers Share Flag
Thu Feb 3, 2011
Jane Grant answered:
This is the only Rose Street in Rosemead: http://maps.google.com/maps?rlz=1T4GGLL_enUS334US335&q=east+rose+street,+rosemead&um=1&ie=UTF-8&hq=&hnear=Rose+St,+Rosemead,+CA+91770&gl=us&ei=RkRLTf_CDozksQPXutjrCg&sa=X&oi=geocode_result&ct=image&resnum=1&ved=0CBQQ8gEwAA ... more
0 votes 2 answers Share Flag
Sun Oct 3, 2010
James Bui answered:
Hi Tong!
Your question has been over 1 year old. Probably you bought that property already! Anyway, for your information:
No fix number for Multiplier. To find the Multiplier:
1- Find the recent sales in the area: ideal is within 1/2 mile (up to 1mile) and 6 months back in time (up to 1 year). Keep finding until you can find atleast 5 sales. Note: these sales should have same number of units or just +/- 1. That means: do not use 3 units sale if your subject is 5 units (unless you find no others)
2- Divide the sale price of each sale by its estimated GROSS INCOME to have that sale's multiplier. You then have a range of the multipliers in the area.
3- Do the reconcile: more weight on the properties with same number of units, bedrooms.

James Bui - Realtor
JamesBuiRealtor@gmail.com
Direct: 626-274-9428
... more
0 votes 1 answer Share Flag
Fri May 7, 2010
Jeri Creson answered:
The short sale lenders are usually pretty receptive to an actual appraisal, however, I would look at also re-examining the appraisal if the short sale lender balks, especially if you feel strongly that the appraised value is lower than it should be. I have challenged appraisals successfully several times this year - the changes to our appraisal system has created some serious problems with documenting true market value. Fair market value should be, by definition, the price point where a willing seller will sell, and a willing buyer will buy, neither under any extraordinary pressure. When a home sells in a multiple offer situation, and there are dozens of offers in hand to demonstrate value, yet the appraisal comes in low, one must ask, ...."Huh?" : )

Have your agent pull other comparables that would better demonstrate the value - making sure that they are within a one mile radius, even if they aren't in the same development, and the newer, fresher, the better, and ask the bank to have the appraiser reconsider or correct any errors found. Sometimes you'll get at least some more value. On a recent sale, we were sure the appraisal was too low - the short sale lender agreed to come up part way between the appraisal and the contract price, but wanted someone to bridge the gap. The appraisal reconsideration gave us what we needed to work with, and we were able to keep the transaction together.
... more
0 votes 5 answers Share Flag
Tue Nov 3, 2009
Karen Montaque answered:
You can try emailforeclosure.com, i will keep you posted if i find any more listing that are free. Good luck with your search
0 votes 12 answers Share Flag
Sun Jan 4, 2009
David Dee answered:
Hi Em,

It would be a good idea to start looking for another house now. However, you will not be automatically get kicked out of the house. The bank would provide you some time to move. Also, the bank may give you "cash for keys" but would also give you a timeline to move out by. I run into many renters in very similar situations as yours. I do alot of rentals as well so if you need further assistance, just give me call. Sorry to hear about your dilemna but hopefully things will work out for you. If you need any further help, let me know since my office is located in Rosemead CA.

David
... more
0 votes 7 answers Share Flag
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