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95814 : Real Estate Advice

  • All11
  • Local Info1
  • Home Buying7
  • Home Selling0
  • Market Conditions0

Activity 10
Fri Nov 11, 2016
Derek Jones answered:
I know of a couple rent-to-own programs and they have requirements on the home and it's location. Check out
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Thu Jun 23, 2016
Paul answered:
Use to help educate on all real costs of homeownership, including purchase price, improvements, title + HO insurance, RE taxes, mortgage financing options + after-tax implications, utility costs and eventual selling costs of 6% realtor commission + state transfer taxes. provides in-depth, easy-to-understand analysis on financial decision of Buying v Renting v Investing in stocks. Find out actual # of years until break even on all costs of investing in a house vs renting. Get educated today with before you make biggest investment of your lifetime. ... more
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Mon Dec 7, 2015
Karen and Paul Catania answered:
I have always looked at the seller taking more risk but it looks like it goes both ways after reading a few of the post here. Personally I see lease options as a lose - lose game anyways. Usually I hear buyer wanting to rent to own because they don't want to throw aways their hard earned money but they don't know how it really works. Buyer/seller agree on a sales price. That sticks even if the market goes up or down. There is a hefty non refundable deposit given to the seller. $8000-$12000 as stated below. The entire rent does not go to the down payment, only a portion of it. $200-$300 depending on the agreement. After a year that is only $2400 -$3600. That's not much. I deal with plenty of investment properties and every tenant wants to buy the property and not once has any of them come through. In reality they don't have the money, credit or even interest to own. They usually just don't want to have to move. I can see the ambition to want to own but unless you are living well below your means and can save a lot of money in a short time lease options are just flat out risky. If the buyer walks the seller is out of a sale but gets the deposit. If the market went up they can sell for more $$$. If it goes down they lose $$$ or re rent it out. Buyer loses the deposit, seller hasn't sold the house, ect. ... more
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Mon Dec 7, 2015
Karen and Paul Catania answered:
No, the lender is not involved in the purchase price. Although if the house does not appraise you will not get them to loan on it or you will be making up the difference out of pocket. If you have an actually lease to buy contract, the price you and the seller agreed on at the time the contract was signed is the price that is paid. Lease options are not the greatest deal for a seller. If the market increases you are stuck at the price agreed on at the time. If it crashes then the house doesn't appraise and the buyer can walk. Normally there is a hefty non refundable deposit in case the buyer walks at the end of the lease to protect the seller. ... more
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Mon Dec 7, 2015
Karen and Paul Catania answered:
A house is worth whatever someone is willing to pay for it. We don't really have set % to offer less. Sacramento is running at 99% (Oct 2015) of list price and the price per square foot average is $187. Agents can give a pretty quick and easy market value of everything that has recently sold so you would know what a fair price would be in the area you are looking. Although most people who overprice their homes eventually sell, it's after they drop the price to market value that it finally sales. One thing in Sac I have noticed is that when a property is slightly overpriced, it sits without interest or showings. Trying to get a few extra thousand dollars or trying to make room to negotiate in the price gets your listing avoided. The numbers for the last year show a house priced right gets 98-100 % of the asking price. ... more
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Wed Jun 24, 2015
Anna M Brocco answered:
Rent to own is really not a good idea, therefore consider fixing whatever is preventing you from purchasing outright. Rent to own can be risky and one could stand to lose a bit of money, it favors the owner; therefore inform yourself well in advance of your search, and consider consulting with an attorney who specializes in real estate before considering the idea and or before signing any agreement. If you haven't done so yet, visit with any licensed loan officer, see if you can buy outright, or simply continue renting until a purchase can be made. ... more
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Mon Oct 21, 2013
Deb answered:
1 vote 17 answers Share Flag
Mon May 28, 2012
Jim Walker answered:
Rental Property Management sites:

Sacramento Rental Rates:

PM Blog:

and, of course, Nancy Manning, who just wrote that she knows your neighborhood rental market.
... more
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Sun Apr 26, 2009
Anna Boyd answered:
I looked up condos fro 250-400k. There's some new ones being built included and you can use your $10,000 California new construction tax credit.

The link is below for the 13 homes. Need to do a cut and paste.

I have a contact who also has new "lofts" at 14th and I - they had a grand opening a couple weeks ago. Website is
... more
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Thu Apr 16, 2009
Robert Spinosa answered:

Depending on the new loan you seek, you may be subject to needing a 30% equity position in the previous owner-occupied property if you would like to have its forthcoming rental income offset its mortgage payment. And keep in mind that the new lender will typically use 75% of the gross incoming rent for qualifying purposes.

So, by way of example, if you are vacating a home worth $300K, and you have a loan on it no greater than $210K, and you expect to get rent per month of $2000, the bank may permit you to use $1500 towards your qualifying debt ratios on the new loan.

If you have any further questions, please feel free to get in touch.

Best regards,

Rob Spinosa
... more
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