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Home Buying in San Francisco : Real Estate Advice

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  • Local Info249
  • Home Buying987
  • Home Selling131
  • Market Conditions81

Activity 1,492
 UpNest, Real Estate Pro in San Francisco, CA
Yesterday at 9:35pm
UpNest answered:
Typical agency fee is 6% in San Francisco but it can vary from realtor to realtor. www.UpNest.com is a great platform that allows you to compare realtor rates anonymously until you find the right realtor that fits your budget in the San Fran area. Plus, it's free to sign up. ... more
0 votes 1 answer Share Flag
Timlamsf, Home Buyer in San Francisco, CA
Thu Jan 19, 2017
Timlamsf asked:
if i am helping someone in Canada to get a loan for a new house(very small percentage from me), my name will be taken out in a short period, wondering if that will affect my first time home…
0 votes 0 Answers Share Flag
Giacobbe.kri…, Home Buyer in San Francisco, CA
Wed Jan 18, 2017
Giacobbe.kristen answered:
I wanted to type more but I went over the limit. I was also curious if anyone has had experience living and purchasing homes through Meritage Homes and/or CalAtlantic Homes as well. We are impressed with what we have seen online as far as the homes look, it's what we are truly looking for. I've seen mixed reviews online about both and would appreciate any honest feedback on the two. Thank you!! ... more
0 votes 1 answer Share Flag
Kellykoehler…, Home Buyer in San Francisco, CA
Mon Jan 16, 2017
Kellykoehler85 answered:
There are a few more from the same owner:

https://www.trulia.com/property/3257952271-94102-Area-Fell-St-San-Francisco-CA-94102

https://www.trulia.com/property/3257951713-94117-Undisclosed-Address-San-Francisco-CA-94117 ... more
0 votes 1 answer Share Flag
David Dai, Home Buyer in San Jose, CA
Mon Jan 16, 2017
David Dai asked:
We currently own a home in San Jose that we purchased about a year ago. However, we've realized that we've made a mistake and instead would really want to live in San Francisco…
0 votes 0 Answers Share Flag
Terryzartman, Home Buyer in San Francisco, CA
Sun Jan 15, 2017
Terryzartman answered:
is the broker liable for damage during a bank appraisel? door left unlocked wind blew it off of house
0 votes 15 answers Share Flag
Alcrawfordlo…, Home Buyer in San Francisco, CA
Sat Jan 14, 2017
Alcrawfordloves answered:
Let's not get it twisted... Have you all got amnesia? One block to the right of the Safeway Shopping Center as you are coming out of the store,, on the other side of Diamond Heights Blvd is a square city block of housing projects. Yes, the brown apartments across the street from the lovely condos. The views are spectacular, & the rent (when I lived there with roommates) was dirt cheap. However, back in the 1980's and 90's these projects were filled with drug dealers and riddled with various crimes ranging from homicide, rape, armed robbery, you name it. It was just as dangerous to visit the neighborhood as it was going to Hunter's Point, McAllister & Fillmore, Lakeview, Sunnydale, Double Rock, South Van Ness just to name several more..
I don't know what it is like today but I don't think the project there have been demolished like other places.
... more
0 votes 20 answers Share Flag
Prime, Both Buyer and Seller in Denver, CO
Fri Jan 13, 2017
Prime answered:
I have purchased 3 houses for cash and I have never been asked to have my credit checked or copies of my bank statements. Yes, I have provided proof of funds in my bank account via letter from my bank, but that only proved that I had the ability to cover the purchase, not how much money I have. As for the Patriot Act, the compliance comes from having the money in the bank. You can't show up with a burlap sack full of $100s and just dump it in your bank. As long as you close escrow with a verifiable source of funds like a wire transfer or cashiers check from your bank, you're good to go.

If you are shopping for a home where the market is hot, you may very well be asked to provide proof that you can afford a home before it is shown to you. Don't take offense, it is a practice to reduce the number of people who just like to look and have no ability or no intention to buy. Just have your banker write a letter stating you have the facilities to purchase a home up to the limit you want to advertise (or the money you have available). If your banker won't do that, move your money to another bank. You then give that letter to your real estate agent, and they will assure the sellers agent or builder that you are financially qualified. If they won't do that, get a different agent.
... more
1 vote 62 answers Share Flag
H2oearth2, Home Buyer in Charleston, SC
Wed Dec 28, 2016
H2oearth2 answered:
OMGosh I wish I had read this BEFORE I started my loan! I am scheduled for a closing on Friday the 30th and its looks like that is NOT going to happen! I am a two time advanced aggressive cancer survivor, I am a disabled vet, and I gave my processor every piece of paperwork required within an hour of her requesting it, I took time off from work to be available to help close my loan, there was talk of it closing early ...NOW underwriting has decided to interpret the home inspection versus read it and take it at face value! Now they are requiring repairs to the home before closing....its claulking!! Nothing major but I have to hire another licensed contractor?? For a minimal repair?? I NEED to close on time..is there going to be another finding after this one? Will I ever close??
Regretfully Yours
Charleston SC
... more
0 votes 14 answers Share Flag
Sheryl Arndt, Real Estate Pro in Woodland Hills, CA
Sat Dec 24, 2016
Sheryl Arndt answered:
Hello Carylaurel, that would depend on your price range. The purchase in San Francisco range from 199k for 1bd 1ba condo 55+, 272k for 2bd 2ba condo and up. Do you have down payment and closing costs or do you need down payment and closing cost assistance?

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 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.

You may consider 5% down Jumbo with a minimum 720 fico score from 417k up to 1.5 million and 10% down from a minimum 680 fico score and up.

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
0 votes 1 answer Share Flag
Scott Godzyk, Real Estate Pro in Manchester, NH
Tue Dec 6, 2016
Scott Godzyk answered:
You can, if you are ready to buy 2 homes, other wise you should get the release first
0 votes 3 answers Share Flag
Dgoody2, Home Buyer in San Francisco, CA
Mon Dec 5, 2016
Dgoody2 answered:
Location, location, location... I shop at Safeway, get my coffee at Starbucks downstairs, go to Barry's Bootcamp downstairs, have drinks at Luck Strike...again downstairs... this is NYC style living at its best... I completely renovated my unit and it's just as nice, if not nicer, than newer buildings in the area... you can never change the location of a building, however you can change almost any finish in your place... my best advise is look for a unit with a good floor plan and good bones... the rest you can change over time. ... more
0 votes 10 answers Share Flag
 UpNest, Real Estate Pro in San Francisco, CA
Fri Dec 2, 2016
UpNest answered:
The best way to find out about pocket listings is through a realtor who knows the insider secrets of the local area. An agent with the right connections will unveil several listings before they are marketed to the public. UpNest.com can help you narrow down your search and find the right realtor with the best connections. ... more
0 votes 26 answers Share Flag
Emilie, Home Buyer in Truckee, CA
Tue Nov 29, 2016
Emilie asked:
Longtime SF residents (renters) -- 2 couples -- thinking about buying a property together but weren't sure if purchasing a SFH then converting to more of a duplex was even a possibility.…
0 votes 0 Answers Share Flag
Richard Litt…, Real Estate Pro in Fountain Valley, CA
Sat Nov 19, 2016
Richard Littlefield answered:
Gissel, Real Estate Pro in Wilmington, CA
Wed Nov 16, 2016
Gissel answered:
Hi Pheno,
For starters, your agent should have made sure you were qualified before making an offer, he should be assisting you with this matter right now, or go to his broker if he is not performing the way he is supposed to.
Secondly, in the contract you signed there must have been the option to dispute your deposit and have a mediation in efforts to recover your initial deposit with the assistance of an attorney in case of default by performance.
Best of luck to you!

Gissel Hernandez Mendez
Sonnocco Real Estate Group
gissel@sonnocco.com
... more
0 votes 3 answers Share Flag
Sally Grenier, Real Estate Pro in Boulder, CO
Wed Nov 16, 2016
Sally Grenier answered:
That depends on whether you signed a buyer agency agreement with that agent or not. If you didn't, you could write an offer with a new agent. However, beware that even if you didn't have an agency agreement in place with the first agent, he still could argue they were the procuring cause and deserve a commission. You may want to sit down with your agent and explain the situation and why you don't want to work with him anymore. He may offer to refer you to someone else in his office. ... more
0 votes 1 answer Share Flag
Rich Reed, Real Estate Pro in Arcadia, CA
Tue Nov 8, 2016
Rich Reed answered:
There's cheap and there's cost-effective. The cheapest is to DIY, but you will not have exclusive representation by a real estate professional. The real estate attorney I refer my clients to when they need legal advice charges $400/hr. Depending on how many hours an attorney would bill and the purchase price, using an attorney might be cheaper. You can probably find a local broker who will do it for a flat fee or reduced commission percentage, and you will have an exclusive representative who will coordinate your transaction from start to finish. Make some phone calls, compare costs vs services provided. Best of luck to you! ... more
1 vote 1 answer Share Flag
Dan Joy, Real Estate Pro in San Mateo, CA
Fri Nov 4, 2016
Dan Joy answered:
Hello mills,

Yes it is. I help Veterans everyday on the VA Loan and have been very successful getting our Veterans into using the VA loan even when up against high down payments and "all cash." I am a Veteran myself. The VA loan is just as competitive when everyone is educated.
Contact if need help.
... more
0 votes 7 answers Share Flag
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