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Home Buying in San Leandro : Real Estate Advice

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  • Local Info8
  • Home Buying46
  • Home Selling6
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Activity 68
Tue Nov 1, 2011
Sally Blaze answered:
Marianne:

I'm not familiar with the Real Estate contracts in Arizona...or is this in California? Regardless of the timeframes in your contract, any correspondence should be done in writing, and make sure it is very clear. Use the standard real estate forms for removing contingencies and ask your agent to document for you, every time she corresponds with the buyer's lender and / or with the buyer's agent / broker. If you really need to be out of your home in 18 days, be careful how you handle this situation. Sometimes the current offer, while frustrating, is still the best offer and may have the highest likelihood of closing sooner rather than later. Get your information from your agent and / or the broker now, not in a few days. Remember, it is okay to escalate your concerns because it is your home.

Good luck with the sale...and the purchase of your next home.

Sally Blaze
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0 votes 10 answers Share Flag
Thu Aug 4, 2011
Tiffany Boyd, Realtor answered:
I'm not sure I understand the question. There is a mobile home, and it is on land that is being paid off? And you want to calculate what specifically? Sorry - wish I could help
0 votes 1 answer Share Flag
Sun Jul 3, 2011
Shane Milne answered:
I am enjoying our conversation nearly as much as I enjoy helping out consumers get correct advice. Yes, opinions & experiences are very important, and no you didn't say it was a federal or state law, but you did say it was "needed" and didn't say that "we need one", just that it was "actually needed", which insinuates that it's an industry-standard, a rule, a regulation, a law... While this may seem trivial, and if were discussing anything but what is legally required (which keep in mind exactly what Barbara has asked about - "is this legal not to have informed me...?") I wouldn't have called the information out. Opinions are fine to share, but consumers come here to rely on professionals to provide accurate information (at least that is what they are hoping will be shared back with them), so to say that it's "actually needed" just irks me (perhaps because I may have a client coming to me bringing up that Sunny said it actually needed) - and I didn't feel a private conversation with you wouldn't have helped other people coming across this thread (but in hindsight it may have prompted you to correct/add information).

I have helped out consumers get accurate advice regarding mortgages on the internet (just like on forums like this) without any direct solication since 2003 (Trulia is actually the first website that I've seen which encourages real estate professionals & consumer to "match up"), so I admit I have a lot more experience than the average consumer-helping-real-estate-professional, and this is why I am very careful about the words I choose to use - I admit the "tone" of my posts I am not incredibly cognizant about, which you have made good efforts at helping me try to correct.

I have used this as a learning experience not to be such a p***k to other industry professionals when (really I have, I'll think about this exchange again when I respond to other real estate professionals in the future), as it appears you didn't intentionally mean any harm with your comment, but also realize that consumers look to us for objective advice, and it's fine to give subjective advice, but it should come with a disclaimer of some degree that the information is in a manner as such.

I think the conclusion that Barbara's question, as well as our responses, have pointed out, is that there is a very clear need for the industry to have a regulation or law that states the required procedures for locking/floating a mortgage interest rate.

Hopefully our exchange has provided reading entertainment for the internet audience (and the few people who have subscribed to this question). Have a good rest of your weekend.
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0 votes 11 answers Share Flag
Sat Jun 11, 2011
Kamal Randhawa answered:
Hello Don,

A good estimate is usually 3% of the purchase price, there are other variables of course and rather then an agent, your escrow company would have more accurate numbers.


If you are not currently working with an agent, you may contact any one of us to assist you. Good luck.
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0 votes 4 answers Share Flag
Tue May 31, 2011
Liz McFarland answered:
Hello Minimouse,
Stay strong! I know it can be discouraging in this climate to see properties receive multiple offers and go over asking or have stronger terms. Let me just say this....
If a home looks like great value and a "deal" other buyers are seeing the same great "deal". If you're putting in offers that are listed well below market value it's often the case that the seller has listed it at that price with the hopes of getting multiple offers.
Talk with your real estate agent about a different strategy. Rather than putting in an offer on the home that just came on the market and is listed low, perhaps you go back and look at properties which have been on the market for a while slightly above your price range...or you revisit a home you originally passed on with "rehab" eyes and ask your realtor for some contractors names. Perhaps you could put less than 30% down and put in an updated bathroom, add some decking to the yard, etc.

There are many possibilities. The key is to stay focused and remain positive. Capture the low rates and excellent value in this current market and work with your realtor to find your dream home :-) It's out there!
Best of luck,
Liz
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0 votes 15 answers Share Flag
Sun Feb 20, 2011
Adrian Huntington answered:
If you write an offer on a Bank Owned Property, don't expect your offer to get accepted if you write the offer more then .10% below current list. Banks will counter low offers back to full price. When a property has been on the market for 3 to 4 weeks the bank will lower the price by 5-10%. Sometimes banks will sell a property for greater then 10% below list when it is the end of the month, and you promise to close in 7 days or less and waive your contingencies. If you want a deal, then buy at the Court House Steps (trustee sale) Be aware that you will not be able to inspect these properties and must pay cash the day of the sale. If there are any liens, they would become yours. So there may be Agents that write low ball offers, but REO Agents will be less likely to suggest these agents offers to the Bank. Banks don't give away free equity. ... more
0 votes 1 answer Share Flag
Sat Feb 5, 2011
Gilbert Richards answered:
Frankly speaking, we are going to lose the ability to price our own loans April 1st, so pricing really isn't a big reason for buyers to purchase now.

The issue is are properties going to continue declining in value and if scrutiny against buyers is going to loosen up. The major banks are taking advantage of the new legislation and they are not only cutting the income on the broker side, but on the banking side as well ... more
0 votes 6 answers Share Flag
Mon Oct 11, 2010
Bob Georgiou answered:
KMB,

Termites are a reality in this area. With buyers at the insistence of their lenders demanding that homes be offered in as best condition as possible, if youa re planning on selling at a good price the matter must be corrected. The nature of the correction depends on the work and there are ways to cut costs. Get a termite report and find an experienced agent to guide you through the process. Most agents know how to handle these matters in low cost minimal headache manner. ... more
0 votes 10 answers Share Flag
Fri Jun 18, 2010
Kamal Randhawa answered:
Hello Sam

It's always a good idea to get an inspection regardless of how old the property is. Look at it this way, You'll be spending maybe $600 to save thousands down the line if something bad comes up. Good luck :)

Kamal Randhawa
Broker
510-932-1066
... more
0 votes 14 answers Share Flag
Mon Apr 12, 2010
Anna M Brocco answered:
If you are concerned about safety your best source of information is the local police department, why not visit/call and ask all your questions--if you are not too familiar with the area drive through the neighborhood more than once and at different times of day, look at everything that is important to you and if the opportunity arises chat with the locals--then make your own determination--will your comfort level be reached. ... more
0 votes 3 answers Share Flag
Mon Apr 12, 2010
Antonio Cardenas answered:
There are a few places along the Marina in San Leandro that offers lots of amenities. San Leandro is a very small city, only about 80,000 people, it would take probably a couple of hours to spend looking at the different areas to see what works for you. I'll invite you to come on over and let's take a look. This is a great time to buy and there are a few good units available for sale. ... more
0 votes 1 answer Share Flag
Tue Mar 16, 2010
The Hagley Group answered:
Send me an e-mail with the info and I will get you ll the information you need.
0 votes 4 answers Share Flag
Sun Oct 18, 2009
Lori Parks answered:
The Sylvia Avila Trust owns that property. How else can I help you? My number is 510-432-5099...
Lori Parks
Windermere Welcome Home
loriparks@windermere.com
0 votes 1 answer Share Flag
Tue Sep 1, 2009
e answered:
There are many great opportunities in San Leandro especially for all cash buyers. That does give you an advantage. I have been born and raised in San Leandro. The San Leandro market is hot right now. We are seeing multiple offers and properties going over asking. Good luck with your search! ... more
0 votes 8 answers Share Flag
Wed Jun 24, 2009
e answered:
Yes these are flood canals. And know this if you live in San Leandro you are in flood territory. I do not know of anyone who has had to pay for flood insurance so I would not worry about that. ... more
1 vote 4 answers Share Flag
Tue Jun 23, 2009
e answered:
I would have to say all cash offers the great. They stand out from every other offer. I have seen banks take an all cash offer that was 30,000 below the highest offer simply because it was cash. It is a great advantage that most people can not do. If you have any other questions feel free. ... more
1 vote 7 answers Share Flag
Tue Jun 23, 2009
e answered:
Hello,
I live in San Leandro and it is a great place to live. I have worked with a lot of buyers recently in San Leandro, there are a lot of great deals out there. Now is the time to make a great purchase. If you have any questions about neighborhoods or listings or anything give me a call or email me what ever you prefer and I can help you. ... more
1 vote 4 answers Share Flag
Tue May 19, 2009
Pacita Dimacali answered:
Hi, Dave

I'm inviting you to visit my website where I provided links to home buyer assistance programs in several cities i the east bay. Go to this page: http://www.alamedahomefinders.com/Help_for_Home_Buyer/page_1653743.html


Home Buyer Assistance

--------------------------------------------------------------------------------
There are various programs that are available to help buyers qualify to buy a home. Here are links to information on what some cities are doing to help make this American dream come true.

California Housing Finance Agency

Home Buyer Loan and Grant Programs

Operation Hope

Promoting awareness and information on housing opportunities

Housing Assistance in the city of Alameda

Emeryville First Time Buyer Program

Fremont First Time Buyer Program

Hayward First Time Buyer Program

Pleasanton Affordable Housing Information

San Leandro First Time Buyer Program

Union City Affordable Housing Program

It's a start! If you need additional info --- call/email/text me.

Good luck!
Pacita
510 205 2992
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0 votes 2 answers Share Flag
Mon Apr 27, 2009
Antonio Cardenas answered:
You might need to ask YOUR attorney about this one, but in my opinion; a deposit is not rent. If she left the property in average to good condition she should have her deposit back, that is what this money was for. Depending on what type of lease and what document you used, the language of that document will pretty much tells you what remedies you will have if the tenant breaches her lease. That is why, my first line suggest you look for legal advise, as a Professional Realtor I think that is my best advise.

Now, I am also a landlord, reading your question, I can see that you did not really lose much, one tenant left and in 4 days another moved in, I would simply give her the deposit and go on with life. It will cost you too much money to try and keep that deposit and the first time you need to talk to an attorney it will cost you even more. I don't see you wining this one. Be glad you did not have your rental vacant for long.
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1 vote 1 answer Share Flag
Fri Apr 10, 2009
East Bay answered:
Thank you for all the responses. It's really helpful. The house is a short sale and they've already accepted an offer. The listing agent also said they've received numerous offers and many of them are above the asking price. ... more
0 votes 4 answers Share Flag
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