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Mission : Real Estate Advice

  • All37
  • Local Info11
  • Home Buying6
  • Home Selling2
  • Market Conditions3

Activity 36
Wed Aug 24, 2016
Arpad Racz answered:
Thu Aug 27, 2015
Mike Simpson answered:
I looked around at many schools before I choose Lumbleau Real Estate School. A lot of the school's offer a series of questions, many of them generic to real estate. Lumbleau only does California, so that sparked my interest.

Amazingly after going through the 3,200 questions.. a good handful where on the first 100 question state exam! I was very impressed. Check out http://www.lumbleau.com
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5 votes 10 answers Share Flag
Sun Feb 8, 2015
Chris Goulart answered:
The deals I run across in need of equity sharing typically involve rehab or construction/construction completion. Giving up a portion of your equity or profits is a good idea when you have profitable deals but not enough cash to work with to finance them. A lot of people I work with bring in a joint venture partner who has cash to work with. In this situation, the JV partner puts up the cash needed in exchange for a percentage of the profits when the property sells. While this may be a large dollar amount, it allows investors who are just getting started or have little cash to work with to get involved in real estate investing. ... more
0 votes 1 answer Share Flag
Sun Feb 8, 2015
Terry Farnsworth answered:
Fannie Mae has a program called HomePath - which sets less restrictive, "buyer-friendly" guidelines by which lenders must follow when lending money on a Fannie Mae-owned property. Your choice in homes would be limited to Fannie Mae-owned foreclosed properties, however the benefits to using this type of financing are great in my opinion:

HomePath financing offers:

1. Down payments as low as 3%
2. No mortgage insurance
3. No lender requested appraisal
4. Less competition - HomePath offers a 15 day "first look" period when the property is first listed, where investors are not allowed to bid.
5. Often the homes are lightly "rehabbed" to move in ready, with new carpeting, doors, paint, etc.

The caveat is - you'll likely pay a slightly higher interest rate with this financing, however mortgage interest is tax deductible currently, while mortgage insurance is not.

Check out www.Homepath.com for a full list of details and benefits.
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1 vote 1 answer Share Flag
Thu Aug 14, 2014
Ryan Rudnick answered:
Great answers below!

It's definitely worth while to check out crime reports and crime maps in your neighborhood, but I agree with Flavio that the only way to really make a decision about this is to go to the area yourself, spend some time there and see how you feel. If you don't feel safe walking in a specific area at night, it might be worth it to avoid doing so for your own peace of mind, even if the crime reports don't necessarily back up your feelings. ... more
0 votes 4 answers Share Flag
Mon Jan 20, 2014
Ben Rojas answered:
I just got back from NYC and from what it looks like they started the micro-neighborhood naming trend. DUMBO (Down Under the Manhattan Bridge Overpass) was the most notable addition to the map. However, this naming trend was noted starting back in 2011 when realtors were trying to craft an image of an area or rebrand a community with a newer, trendier name, see article: http://www.nytimes.com/2011/04/21/nyregion/procro-sobro-fidi-bococa-a-lawmaker-says-enough.html?_r=0

So whether this trend will stick or not depends on the residents who move in and decide to adopt the new name or keep their old one. SEMA- I think is probably going to stick around given all the new residents moving in to this area. It also depends on whether something "cool" takes on the name. NOPA (north of the panhandle)for example- a great restaurant and neighborhood wouldn't be as sticky if the restaurant was terrible just like TriBeCa (triangle below canal st) now the name of Robert Deniro's movie company wouldn't have stuck without the adoption of those residents as well.

The beauty of SF I believe is the constant change and movement of its residents and the new trends those residents bring with them.
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0 votes 2 answers Share Flag
Mon Dec 23, 2013
Trulia asked:
Are home prices in Mission going to appreciate or depreciate? What are the current market conditions for buying or renting?
0 votes 0 Answers Share Flag
Thu Jun 27, 2013
Tresha Matthews answered:
If there was a 1099 S provided by the title company or there is a gain this will be reported on a form 8949. If the home was sold at a loss and there was no 1099-S issued then it does not need to be reported. ... more
0 votes 1 answer Share Flag
Thu Jun 27, 2013
Tresha Matthews answered:
It also depends on whether the home was a personal home, rental, or investment property. Based on the type of home the gain may be taxable or the loss deductible.
0 votes 1 answer Share Flag
Mon May 13, 2013
Don Tepper answered:
The landlord is responsible for "normal wear and tear." (The tenant is responsible for damage.)

However, defining it is not easy. It's often comparatively easy to define damage: a broken soap dish, a deep gouge in the floor (just two of the items I ran into with a rental property). But: slight scuffs on the walls, carpet that looks a bit worn after a few years--that's really normal wear and tear.

Many landlords figure they'll have to repaint and recarpet after a number of years--maybe 3-5. But if a tenant moves out after only a year and the place is so dinged up that it needs some repairs and repainting, that's not "normal" wear and tear. And, honestly, a family with 3 active children is going to cause more wear and tear than an elderly couple with no children.

A lot of it is a judgment call.
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0 votes 1 answer Share Flag
Mon Apr 15, 2013
x answered:
In my opinion, there is no “fancy” side of Mission. I think a walk through the neighborhood gives you a good feel for daily life for many city residents. But for the “nicest” area of Mission I would recommend Inner Mission between Potrereo Ave. and South Van Ness and between 15th St. and 24th St.
This is a charming little neighborhood within Inner Mission that offers great weather, businesses, and a tight–knit community. It’s a safe neighborhood where you’ll find all types of artists, techies, and families alike living. Renting or buying, it has all sorts of property to choose from, such as Condos, lofts and single family homes.
There is an array of great shopping, cafes, restaurants, and bars spread throughout the area. For a few popular digs to check out, start with breakfast at Universal Café, then take a walk down 24th st. over to Valencia corridor for a little shopping and back over to 20th st. and Shotwell’s for a drink to end the day, or start the night. Check it out..

Bryan Arnold http://newrealtyworld.com/about/
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1 vote 3 answers Share Flag
Mon Mar 25, 2013
Alison Hillman answered:
I don't actually live in the Mission, but I will tell you why I love hanging in the Mission.

FOOD.

There, I said it! In the Mission, you can find all kinds of authentic options ranging in prices. I would highly recommend reading up on "The Best of..." lists, you'll find that the majority of great SF eats are in the Mission. http://www.7x7.com/eat-drink

Hope this helps, enjoy!

Ali, Community Manager

PS My fave restaurant in SF is called Flour + Water in the Mission...mmmm....
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1 vote 1 answer Share Flag
Tue Nov 20, 2012
Helen Yuen answered:
Hello:

Laurance Maddox has experience running a tax business, currently he works as a commercial loan broker. He can be reached directly at (303) 884-0834.

If you're buying in SF - yes the Mayor's Program may be for you as suggested by the other realtor.
If you buy BMR (below market value), the program takes part of the profit value when you sell.
Some other cities also have similar programs.

Ask about a FHA loan if you plan to live in the property.

Ask about a zero downpayment if you are a veteran.

Helen Yuen, Open Home professionals - Call to get info about a listing or for a tour of a home
(415) 469-0577
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0 votes 2 answers Share Flag
Sat Nov 10, 2012
Denise Montalvo answered:
I have helped buyers get into homes on Marin for 3.5 % down on FHA loans. We were able to close in 30 days. This type of loan requires mortgage insurance. The other viable loan product is the traditional 20% down payment. Interest rates are incredibly low right now. ... more
0 votes 4 answers Share Flag
Wed Sep 12, 2012
Gabriel Rojas answered:
Well Alison,

I think that just about all of us that have enjoyed a warm/sunny day in Dolores Park can attest, there is plenty of drinking going on in the park. Will there be an end to it altogether? This seems extremely doubtful but you never know.

According to the article you posted there have been people bringing in kegs. I have never personally seen that but I'm sure it happens. I, for one, am completely okay with people drinking in the park if they handle themselves and don't become a nuisance to others. I do not condone under-age drinking or the reports of heroin use, etc but think that responsible drinking is okay.

Thanks for bringing this to our attention.

Gabriel
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1 vote 1 answer Share Flag
Wed Jul 25, 2012
hinling answered:
I live at around the corner of 24th and Potrero and I can tell you it's definitely NOT too safe around there. However, the rent is a bit cheaper and it's not too hard to find street parking if you have a car. Also, buses run along both 24th and Potrero pretty frequently. ... more
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Sat Mar 24, 2012
Andrew answered:
The homes in Mission Terrance are better than ones you'll find in lower Mission or the Excelsior district or outer Mission.
0 votes 4 answers Share Flag
Thu Mar 22, 2012
Matthew answered:
The parking situation in that part of mission is actually not too bad. I've lived near 14th and mission for 5 years now and had a car for about 2 of those years. You'll find the most spaces east of mission street, between mission and folsom. I would normally find a space within 5 to 10 minutes on most nights in between 14th and 16th, and mission and folsom. The one thing i would caution you against is leaving anything at all visible in your car. Make sure everything is in your trunk, glove box or you just take it with you, because a lot of windows get smashed in this neighborhood. Also be mindful of the street you're parking on after hours coming home from a night out. Keep to the main streets as much as possible because unfortunately there is some crime in the way of muggings to be aware of in this neighborhood as well. So you don't necessarily need a garage spot if you want to save money, however there are a few in the area for somewhere between $250 and $300 if you want to go that way. ... more
0 votes 1 answer Share Flag
Sat Dec 24, 2011
Texas Born answered:
The mission has a gang and drug problem the gangs are seperated buy street and color.You have red and blue red from 22nd towards ceaser chavez and blue back going towards duboce.Then you have the 21st gang that divides the to colors.Some say they were red but not from what ive seen.Their is alot of drug activity and alot of drinking that goes on their on 21st and Bryant.I havent had any problems their and i have lived their for atleast 5 years.In the past few years their seems to be a little prostitution starting to build up you see women standing around every now and then jumping in and out of cars.Word has it that the young kids run the show but ive heard rumors that a guy named d-loc is the one that controls everything.He is a older guy in his late 30s i have seen him around but never meet him.From what i heard from a friend of mine he is a recording artist but i dont know what his recording name is.Neighbors that now him or say they do say he is a real melow guy but looks can be well you know.And the times i have seen him he always has different women with him and alot of times more than a few.When i go to the corner store i never have any problems and they always say hello to the neighbors and the people who walk by.Other than that its pretty calm in that part of the Mission besides the few things i mentioned. ... more
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