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Home Buying in Sacramento : Real Estate Advice

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  • Local Info163
  • Home Buying689
  • Home Selling80
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Activity 754
Sat Jan 28, 2017
Lauren E Jones answered:
It depends on the area in Del Paso Heights. I would stay away from the Grand Avenue area. Stay away from Strawberry Manor also, as well as Nogales. There is alot of gang activity in general, and the likelihood of getting decent renters long term isn't really there. You will probably get alot of people like myself with poor credit. However, there is alot of drug activity as well. I lived in Del Paso Heights for 7 years, and will never go back. The only good part of Del Paso Heights I can think of is near Northwood Elementary, and near Morey Avenue School. It's really just hit and miss in the area. ... more
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Sat Jan 28, 2017
Lauren E Jones asked:
We paid 188k, in cash for a modular home to be built and put onto a nice lot with land. It is near a levee, and with recent flooding, we decided that is too much of a risk to the safety…
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Sat Jan 28, 2017
Lauren E Jones asked:
We paid cash to have a modular home built and put on a property. But, the property is 3 blocks from a levee. With the recent rain storms, the levee almost flooded it's banks, as well as…
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Thu Jan 12, 2017
Sahiman Aziz answered:
i am looking for a back in law or granny unit in elk grove ca or sacramento ca not south sacramento how can I find it
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Wed Jan 4, 2017
Derek Jones answered:
Talk to your agent if you used one as it's time to start negotiating. Or there is always small claims court. Talk to an attorney if you'd like to seek legal assistance.
0 votes 1 answer Share Flag
Sat Dec 24, 2016
answered:
Hello Phani, the choice is yours as the rents as well as the home prices are going up. The rentals in Natomas for a 4bd 2ba single family two story home start from $1,795 and the purchase for a 4bd 2.5 ba single family two story home start from 332k.

You should study RENT vs BUY options as you may qualify to buy and pay less than rent in many local cities. You may qualify to buy with minimum out of pocket expenses and pay less than rent.

Beware of the many rental scams out there these days on all sites. The scams are on all of the rental listing sites except one that us agents/broker use such as mls, multiple listing service.

You should not give anyone any funds or personal information without confirming with a licensed agent/broker or management company to find out whom you should be dealing with and the status of any address of interest.

If you decide you want to buy you will need to be pre-approved to be able to meet an agent to view and submit offers on any homes of your choice. You will need to gather documentation such as one month paystubs, two month bank statements, last two year tax returns, 1040s, 1099s, W2s and all schedules, copies of drivers license/ID and social security card for each applicant.

You could consider a down payment assistance program such as CalHFA or Sapphire Grant which can cover your down payment and closing costs. You may close with minimal out of pocket expenses. You may consider the CalHFA from a minimum 640 fico score and the Sapphire Grant from a minimum 620 fico score.

You may qualify FHA from fico scores between 500-579 with 10% down or minimum 580 fico score may qualify FHA 3.5% down up to 417k. You may consider 3% down conventional from a minimum 620 fico score or even 5% down conventional with NO Mortgage insurance (Lender paid MI) up to 417k.

Your qualifications will be determined by your credit profile, debt to income ratios, fico scores, loan program and how much you want to invest into the down payment and closing costs. Your fico scores can be raised within 3-4 days in most cases to qualify for programs, rates and terms as necessary.

If you figure out what cities/zip codes you are considering, minimum number of bedrooms and the maximum payment/price you are looking to achieve you can be emailed listings to fit your search criteria. Your email address is needed to set you up for the automatic daily updates.

Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
Veteran & VA/CalVet Loan Specialist
REO & Short Sale Specialist
Credit Repair At No Cost
ALL Loan Programs Available
24+ Years Experience
BRE# 01140252
NMLS# 297251
... more
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Mon Dec 12, 2016
Derek Jones answered:
If you have an inspection contingency you can request a credit/repair/replacement of any items you want. The sellers aren't obligated to do anything. If you proceed knowing the condition of the home and appliances then it's on you.

If you don't like the sellers response(or lack there of) you can cancel if you are within your inspection contingency period.
... more
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Mon Dec 12, 2016
Aire2362 answered:
where do I get information on getting established with buy a duplex that will house section8
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Wed Nov 2, 2016
Grifka53 asked:
Tue Oct 11, 2016
Susie Kay answered:
I would suggest that you shop around. In my experience, I found broker to be better, lower interest, better service than my bank. Home is an investment and just like any other investment, there's no guarantee that it will increase in value in the future. ... more
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Wed Oct 5, 2016
Derek Jones answered:
For first time home buyers you can check out www.calhfa.ca.gov for downpayment assistance programs. There are also a few other assistance programs available in the Sacramento area. Aside from that you will still need enough income to qualify for a loan. Talk to a local lender and see if you qualify, and they can also go over the assistance programs. ... more
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Fri Sep 23, 2016
Derek Jones answered:
Trulia does not get listings from our MLS. So to get the most accurate data on homes for sale or pending you would want to search directly from our consumer mls site or a brokerage site. My site also shows pending sales data below. ... more
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Thu Sep 15, 2016
Deborah Sullivan answered:
Been living in owner financed home for 6 years. Now he is threatening to foreclose i have been making payments. I am a year behind on property taxes. Home has knob and tube electric is anyone willing to help me keep my home? ... more
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Tue Sep 13, 2016
answered:
Hello George, yes you may qualify FHA from fico scores between 500-579 with 10% down or minimum 580 fico score may qualify FHA 3.5% down. You may consider a 3%-5% Sapphire grant down payment program up to 417k from a minimum 620 fico score which does not have to be repaid.

Your qualifications will be determined by your credit profile, debt to income ratios, fico scores, loan program and how much you want to invest into the down payment and closing costs. Your fico scores can be raised within 3-4 days in most cases to qualify for programs, rates and terms as necessary.

You should consider the CalHFA or Sapphire Grant down payment assistance program which you can close with minimal out of pocket expenses of a few thousand dollars.

Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
Veteran & VA/CalVet Loan Specialist
REO & Short Sale Specialist
Credit Repair At No Cost
ALL Loan Programs Available
24+ Years Experience
BRE# 01140252
NMLS# 297251
... more
0 votes 4 answers Share Flag
Mon Sep 12, 2016
answered:
Hello Linda, I am a Veteran as well and love assisting Veterans. VA or CalVet are not fico score driven loan programs and some lenders have added minimum fico score requirements and their own overlay guidelines. We have banks that have common sense underwriting and go down to 500 fico score.

There may be issues that have to be addressed with the lower fico scores but your fico scores can be raised within 3-4 days in most cases to qualify for programs, rates and terms as necessary.

Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
Veteran & VA/CalVet Loan Specialist
REO & Short Sale Specialist
Credit Repair At No Cost
ALL Loan Programs Available
24+ Years Experience
BRE# 01140252
NMLS# 297251
... more
0 votes 9 answers Share Flag
Thu Sep 8, 2016
Derek Jones answered:
There isn't a problem offering lower than asking as long as it's justified. Every house is different so it would depend on that specific home. If it's a hot home with multiple offer then obviously coming in below asking price might not be best but if it's been sitting for while or their asking price is too high then a lower offer price is warrantied.

Feel free to reach out to me to discuss a specific property or general market conditions for the Sacramento area.
... more
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Mon Sep 5, 2016
Valli Williams answered:
There are several options, you can still do 100% financing with FHA where the 3.5% is granted by the lender (us). There is also a conventional 1% down, and the lender (us) grants you 2% down. If your credit is good, I would go with the 1% down option because it's more affordable monthly.

Let me know if you have questions.


Valli Lopez
NMLS 980530
619.916.9595
Valli@vallilopez.com
... more
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Thu Aug 18, 2016
Nancy Ludi asked:
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