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Home Buying in Russian Hill : Real Estate Advice

  • All29
  • Local Info3
  • Home Buying10
  • Home Selling2
  • Market Conditions3

Activity 8
Tue Feb 24, 2015
Ryan Rudnick answered:
If both parties agree on it, I don't see a reason why closing early is an issue. It might not be very common, but it's definitely something I've come across here and there.
1 vote 7 answers Share Flag
Sat May 4, 2013
Lizete Santos answered:

It would depend on a number of factors but one thing to keep in mind would be zoning as that will dictate what development is possible for the lot.
I would recommend consulting with an architect to fully understand the development potential and maximize your investment.
If you would like a referral please let me know.

Lizete Santos
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0 votes 3 answers Share Flag
Wed May 1, 2013
Sally Rosenman answered:
Don't get an agent until you have spoken with Mortgage Broker(s) to get an idea of how much you can afford to purchase....Actually, your comfort level is the most important. If you can afford $1,000,000 but your comfort level is $750,000, then only look at properties around your comfort level. In San Francisco, most properties are selling over asking. You need to take that into consideration. When you choose a realtor, she can help you!

Then talk to a couple of agents. Find out how she/he does business and choose to work with the Agent who you feel can do the best job.

You are welcome to go to my website and look under Mortgage Brokers for some excellent ones. Tim Wood and Ephraim Schwartz are good ones to use. If I can assist in any other way, please contact me.

Good luck!

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1 vote 9 answers Share Flag
Wed May 1, 2013
Good afternoon Seanf,

We see many credit reports with low credit scores (anything less than 620), and often many scores in the 500's. This is BAD credit. If you are one of the folks affected by this terrible economy, you have a low credit score and you have a dream of buying a home, here's some simple advice for you.

It is unlikely you could be approved for mortgage financing with that credit score at this time.

Beware of any mortgage professionals promising you an approval with such a low score. Wait on buying a home. I recommend you take the time to resolve your credit issues.

First, settle any outstanding debt. If you owe money on collection accounts, charge-offs and/or judgments, make payment arrangements and get these accounts paid promptly.

Next, begin rebuilding your credit. If you have current accounts with good payment histories, or even some previous late-payment-blemishes, make sure you continue to pay those accounts on time. If you do not have any existing credit accounts then you'll need to establish several in order to create a viable credit history.

I have found that CONSUMER ACTION is an excellent resource for objective advice on all things credit related. You'll find free and sincere advice on everything from settling collection accounts to rebuilding credit to building credit from scratch on their website.

Beware of anyone offering to "repair" your credit! The Federal Trade Commission issued a stern warning last year that such offers are scams. Find more from the FTC HERE.

The best way to buy a home is to have a decent credit history combined with sufficient Income and Assets for a home purchase.

The best way to have a decent credit history is to settle negative outstanding obligations and pay all your bills on time for at least two years.

Trevor Curran
NMLS #40140

*If you thought my answer was helpful, please give me a “Thumbs Up” or “Best Answer.” Thanks!
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0 votes 2 answers Share Flag
Tue Apr 30, 2013
Leopold A Rodriguez answered:
No, not as a buyer.

As a seller, perhaps, if you have already bandied about price and terms with a specific buyer.

Attorney at Law
400 Montgomery 505
San Francisco CA 94104
Office: 415.781.3000
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0 votes 3 answers Share Flag
Mon Oct 5, 2009
Eileen Bermingham answered:
Hi--Here's a quick breakdown to answer your question:

Two condos have sold on Vallejo in Russian Hill since January. A 1BR/1BA with parking for $587,250 (1970s building), and a 2BR/2BA in a contemporary building with one-car tandem parking for $790,000.

On the TIC front, eight TIC interests have sold since January. All were two-bedroom units. Average sale price was $659,375.

Hope this is helpful.
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1 vote 4 answers Share Flag
Thu Mar 13, 2008
Bill Williams answered:
Hi Nick,

If you say that you're not ready to buy now, even if someone helps find the right property that meets all your stated needs and schedules to get you there; to help you make a winning offer, then you've set yourself up for this sort of "either or" dilemma. Either the pro will try to find you something now, or you will be working with some kind of real estate newbie or dilettante for the next year as they spend their time showing you property after property in an ever changing market.

Anyone who is good at what they do will look at the goal or job description first and if it is not possible, they will let you know why, even if it's unpleasant and not what you want to hear. The simple reason a pro would have to decline to work with you is it would be a waste of everyone's time.

It seems what you really want is to get intimately familiar with the market. It's great you are honest about that and being up front that you're not interested in buying now but a more realistic plan will be to partner with an agent and let him/her know that you will buy in a year and want to get the auto generated statistics and open house times in your area of interest and if they will work with you, (sending you info so you can do your homework), they will spend a little time now as your agent and you will be loyal.

It cost too much to be in business to drive people around who admittedly aren't going buy unless the agent is a dilettante rather than a professional. A professionals bread and butter business is satisfying ready home buyers by helping them find and purchase a property that best meets their needs. If you considered your time worth $100 or more per hour, wouldn't you have discretion about how you spend it?

When I hire people, I always want to know how I can make their job easier because I realize I am hiring professionals because I believe they can produce better results than I could do for myself.
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