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Salinas : Real Estate Advice

  • All161
  • Local Info5
  • Home Buying75
  • Home Selling9
  • Market Conditions4

Activity 120
Sun Aug 6, 2017
Actingclasses answered:
Depends on your market. High end buyers seem to rip everything out just to say that they did. Mid- and lower-end market buyers might leave the same neutral paint on the walls and flooring in place till THEY sell the house years later. And while TV has taught people that hardwood floors are their birthright, I have never seen a buyer quick to rip out new, warm tan or taupe carpeting with thick padding (that's KEY). It's just too comfy, especially in bedroom and den areas.

However, I'd avoid laminate no matter what. Buyers don''t consider it an upgrade anymore, but rather, a problem that needs to be eliminated. Even though it is not that cheap, it has that cheap sound and feel underfoot, reacts badly to water, and just doesn't look very good on more than casual inspection.
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Thu Jun 1, 2017
Horselady4nc answered:
For those interested in applying for an FHA loan, applicants are now required to have a minimum FICO score of 580 to qualify for the low down payment advantage, which is currently at around 3.5 percent.
If your credit score is below 580, however, you aren't necessarily excluded from FHA loan eligibility. Applicants with lower credit scores will have to put down a 10 percent down payment if they want to qualify for a loan.
So if you're planning to buy a house, and your credit score doesn't meet the minimum, you should weigh the advantages and disadvantages of putting down a larger down payment or using those funds to try and improve your credit score first.
Benefits of an FHA Loan
The reason why FHA loans are so popular is because borrowers that use them are able to take advantage of benefits and protections unavailable with most traditional mortgage loans. Loans through the FHA are insured by the agency, so lenders are more lenient. Here are a few benefits you can enjoy with an FHA loan:
Easier to Qualify
While most loans exclude applicants with questionable credit history and low credit scores, the FHA makes loans available with lower requirements so its easier for you to qualify.
Competitive Interest Rates
You've heard the horror stories of subprime borrowers who couldn't keep up with their mortgage interest rates. Well, FHA loans usually offer lower interest rates to help homeowners afford housing payments.
Lower Fees
In addition to lower interest rates, you can also enjoy lower costs on other fees like closing costs, mortgage insurance and others.
Bankruptcy / Foreclosure
Just because you've filed for bankruptcy or suffered a foreclosure in the past few years doesn't mean you're excluded from qualifying for an FHA loan. As long as you meet other requirements that satisfy the FHA, such as re-establishment of good credit, solid payment history, etc., you can still qualify.
No Credit
The FHA usually requires two lines of credit for qualifying applicants. If you don't have a sufficient credit history, you can try to qualify through a substitute form.
For many home buyers, using an FHA loan can really make the difference between owning your dream house comfortably or turning it into a financial nightmare. The FHA provides a wealth of benefits for applicants that qualify, so make sure you're making full use of them.
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Sun Apr 9, 2017
Maryannms3958 asked:
Mon Oct 17, 2016
Ramon Campos answered:
Start by talking to a real estate agent who can provide valuation on your restaurant. You will need to list all assets and inventory in your restaurant. for any questions regarding selling your business you may contact me. ... more
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Mon Oct 17, 2016
Ramon Campos asked:
How much value can a property zoned for second dwelling add to a property? zoning r-1-15 being future benefit. Can an appraiser use the R-1-15 zoning
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Wed Aug 17, 2016
Derek Jones answered:
Seller credits to buyer's is a common occurrence but why would they pay you back the credit? Take whatever you have in WRITING and seek legal advise if you feel you are owed an additional $7750. ... more
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Wed Aug 17, 2016
Lewis George answered:
we have fund available
lggatorfinance @ financier.com
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Thu May 12, 2016
answered:
Hello Isela0981, I did not find the rental listing but beware of rental listings as there are a lot of scams out there. The inventory seems quite low in 93906 zip code. There is a 2bd 1ba single family home available for $1,375 that won't last long.

Check with the Northridge Park apartments for their inventory. You may want to inquire with the local rental management companies for their inventory as well.

The purchase in Salinas start from 169k for 1bd 1ba condo and the single family homes start from 209k for 4bd 2ba home.

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.

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 to buy you will need to be pre-approved to be able to meet an agent to submit offers on homes of your choice. You will need to gather documentation such as one month paystubs, two month bank statements, last two year tax returns, 1040's, 1099's, W2's and all schedules, copies of drivers license/ID and social security card for each applicant.

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 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.

It only takes a few dozen questions to qualify, go over your options and email you listings to study and consider. Here are some links to study about me as well as web reference links to many loan programs...

Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
Veteran & VA or CalVet loan specialist
REO & Short Sale Specialist
Credit Repair At No Cost
ALL Loan Programs Available
24+ Years Experience
BRE# 01140252
NMLS# 297251
760-486-4225
9am till 5pm by phone Monday thru Saturday, Sundays by appt., EMAIL ANYTIME 24/7
Under640FicoScoreLoans@gmail.com or HomeLoans4U@live.com
http://youtu.be/MrygA2_8fAY
http://www.trulia.com/profile/SherylArndt
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Thu May 12, 2016
answered:
Hello Arreguin1325, yes you are a first time homebuyer if you have not owned a home in 3 years.

Are you looking for down payment assistance? The 3%-5% Sapphire Grant down payment assistance program can get you into a purchase with minimum out of pocket expenses.

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 will need to be pre-approved to be able to meet an agent to submit offers on homes of your choice. You will need to gather documentation such as one month paystubs, two month bank statements, last two year tax returns, 1040's, 1099's, W2's and all schedules, copies of drivers license/ID and social security card for each applicant.

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.

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.

It only takes a few dozen questions to qualify, go over your options and email you listings to study and consider. Here are some links to study about me as well as web reference links to many loan programs...

Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
Veteran & VA or CalVet loan specialist
REO & Short Sale Specialist
Credit Repair At No Cost
ALL Loan Programs Available
24+ Years Experience
BRE# 01140252NMLS# 297251
760-486-4225
9am till 5pm by phone Monday thru Saturday, Sundays by appt., EMAIL ANYTIME 24/7
Under640FicoScoreLoans@gmail.com or HomeLoans4U@live.com

http://youtu.be/MrygA2_8fAY
http://www.trulia.com/profile/SherylArndt
... more
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Tue Nov 10, 2015
Jesse Reyes answered:
Hi grenreaper,

A very simple answer to your question. First and foremost, you have to ask your self. "What can you afford to pay every month on a mortgage?" Based on the information you provided, you could qualify for a mortgage. One major factor that will determine the amount you would qualify for is your income. I'm currently working with a client who is qualified for $315,000. His yearly income is $68,000 with just about the same credit score and no dept.

My best advice to you is, Contact a lender and make an appointment. This way he or she can go over your debt to income rations, which is what determines the amount you qualify for. Currently, buyers have many first time buyer programs available that you can use to purchase your first home as well.

I hope that this information helps you on your quest to buying a home. If you need any additional information. You can contact me and I will help you with any other questions you might have in-regards to purchasing a home. I can also refer you to several Banks and mortgage companies that can best assist you with the pre qualification process.
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Sun Nov 1, 2015
Daniel asked:
The Do's and Don'ts about HOA's caught my attention. I have some personal insights on living in one.
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Mon Aug 3, 2015
Derek Jones answered:
The agent as in real estate agent isn't so helpful with that type of loan? How so? You can always get a new agent if you feel your needs aren't being met.

But as a side note; if you have any questions about your loan those should be directed towards your lender. ... more
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Thu Jul 23, 2015
answered:
Hello Firstraiderette, 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. You may qualify to buy with minimum out of pocket expenses such as $2,000 down payment with a minimum 640 fico score @400k.

You may qualify FHA from fico scores between 500-579 with 10% down or minimum 580 fico score may qualify FHA 3.5% down or as low as .5% half percent down payment program from a minimum 640 fico score 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.

If you figure out what cities/zip codes you are considering, minimum number of bedrooms and the maximum payment you are looking to achieve you can be emailed listings to study and compare. Your fico scores can be raised within 3-4 days in most cases to qualify for programs, rates and terms as necessary.

You will need to be pre-approved if you decide to buy and to be able to meet an agent to view and submit offers on any homes of your choice.

It only takes a few dozen questions to qualify, go over your options and email you listings to study and compare. Here are some links to study as well as web reference links to many loan program pages offered...

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
22+ Years Experience
BRE# 01140252
NMLS# 297251
760-486-4225
9am till 5pm by phone Monday thru Saturday, Sundays by appt., EMAIL ANYTIME 24/7
Under640FicoScoreLoans@gmail.com or HomeLoans4U@live.com
http://youtu.be/MrygA2_8fAY
http://www.trulia.com/profile/SherylArndt

If my response was helpful, consider clicking Thank, Link or Best Answer.
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Mon Jul 6, 2015
Teresa Lee asked:
know im trying turning to sale it and she either turns down all my or shows them another mobile that she is saling and sales it cheaper she also says know i cant be in park because im not…
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Tue May 12, 2015
JR Rouse answered:
Brianna, regarding the question of home vs. apartment. It really depends on your life style. Renting/Owning a home comes with more responsibilities than renting an apartment/condo. The main difference is maintaining the yard as an example. When renting a apartment/condo, typically the grounds are maintained by the complex/HOA. Just be sure to ask the question of the landlord/rental company what is included with the rent (landscaping, association dues, etc.). Best of luck. J.R. ... more
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Mon Apr 27, 2015
answered:
What is your question?

I do not check replies, so if you have a comment or question email me here:
AGreer@TheMortgageOutlet.com

Alex Greer
Loan Officer
408-352-5147
NMLS #1056079
http://www.TheMortgageOutlet.com
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Wed Mar 25, 2015
answered:
Hello n_chole, you may qualify to buy with minimum out of pocket expenses with those scores with low interest rate and premium financing.

You may qualify to buy FHA with fico scores between 500-579 with 10% down or minimum 580 fico score may qualify FHA 3.5% down or as low as .5% half percent down payment program. You may consider 3% down conventional from a minimum 620 fico score. Your fico scores can be raised within 3-4 days in most cases to qualify for programs, rates and terms as necessary.

You will need to be pre-approved to know your purchasing power and to be able to meet an agent to view and submit offers on any homes of your choice. Your qualifications will be determined by your credit profile, debt to income ratios, fico scores, home price, loan program and how much you want to invest into the down payment and closing costs.

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.

It only takes a few dozen questions to qualify, go over your options and email you listings to study and compare. Here are some links to study as well as web reference links to many loan program pages offered...

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
22+ Years Experience
BRE# 01140252
NMLS# 297251
760-486-4225
9am till 5pm by phone Monday thru Saturday, Sundays by appt., EMAIL ANYTIME 24/7
Under640FicoScoreLoans@gmail.com or HomeLoans4U@live.com
http://youtu.be/MrygA2_8fAY
http://www.trulia.com/profile/SherylArndt

If my response was helpful, consider clicking Thank, Link or Best Answer.
... more
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Tue Jan 6, 2015
Cesar fuentes asked:
Fri Dec 19, 2014
fosterkicks99 answered:
It would make sense that the repairs will be at least requested before making a deal to buy the house. Even if they are looking for a place to remodel and completely redo, people will want a furnace that works. You should look into what it might cost to repair or replace it.
http://www.danielsheatingandair.com
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