Trulia Community - Advice from neighbors and local experts

Find Your Community
We couldn't find that location. Please try again.
Get Expert Advice

Southern Pacific / Richards : Real Estate Advice

  • All17
  • Local Info2
  • Home Buying12
  • Home Selling1
  • Market Conditions0

Activity 17
Mon Sep 5, 2016
Valli Lopez 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
... more
0 votes 2 answers Share Flag
Mon Aug 1, 2016
It will depend on if it is built before or after 1976, the condition, in park or on its own land, on foundation, single wide, etc. Pre 1976 are very hard to finance...

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.

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# 01140252
NMLS# 297251
9am till 5pm by phone Monday thru Saturday, Sundays by appt., EMAIL ANYTIME 24/7 or
... more
0 votes 1 answer Share Flag
Mon Feb 8, 2016
Karen and Paul Catania answered:
It is frustrating to get beat out when paying cash but keep in mind that you may be going up against other cash offers. In a flippers market they are most likely out bidding you and doing very short closing times. In 2011 the bigger bank owned listing agents had more business then they could handle a really good thing going with the banks. They were receiving plenty of offer and making plenty of money to worry about committing fraud. The banks don't allow their agents to accept friendly offer or resale their properties on their own. It's all business and numbers to the banks and the listing agents. Don't expect any reasonable thought, emotions or care to come from a bank owned property. ... more
0 votes 9 answers Share Flag
Mon Feb 8, 2016
Karen and Paul Catania answered:
New homes sales are about supply and demand. In a hot market they will normally get their full price. In a slower market they will always negotiate to keep their inventory moving. One thing to always remember is the house you want only comes on a couple certain lots. If you are negotiating for your favorite lot you can get beat out real quick by someone else ready to sign. ... more
0 votes 4 answers Share Flag
Mon Feb 8, 2016
Karen and Paul Catania answered:
VA loans is a almost a great service for our vets but the terms of the loans make it more difficult to get accepted. I have had VA loans go really easy and really bad. It also seems that if an agent in an office has bad VA deal happen they tell all their co workers and then they are afraid to accept one on their listings. It's not VA loans are bad or difficult. It's usually just the appraisals.

Fact is if you have an offer we all want cash first, conventional then FHA or VA. So in any multi offer situation usually a VA offer will not beat out a cash or conventional loan. I have had a full price cash and an over asking VA and the VA won. It was more risky but worked out great for my sellers and the buyer. It's all about what a seller wants. My sellers wanted more money and that's what they got. In my area we are having VA appraisal issues and ridiculous loan conditions lately at the seller expense that is not doing our Vets a good service. Deals get cancelled and the sellers refuse to accept another VA loan and the buyers are left without their new home for something out of their control.

Either avoid the market during multiple offer times or accept the fact you may get beat out a few times until you find the right seller. Wayne Gretzky says you miss 100% of the shots you don't take. So please keep trying and I wish the best for all our Vets!
... more
0 votes 5 answers Share Flag
Mon Feb 8, 2016
Karen and Paul Catania answered:
It's not that it can't be negotiated but it is paid by the bank and not the seller. Short sales are very difficult for all and realtors on both side deal with a lot of extra work, stress and time so asking for a full commission is perfectly reasonable. This also allows room for your agent to cover fees or cost that the bank will discount out of their commissions. Short sales are the last thing any agents want to deal with so offering a lower commission to a buyers agent will most likely get your property ignored by them. ... more
0 votes 2 answers Share Flag
Thu Jan 21, 2016
Ali asked:
Where is ideal location to flip houses in Southern California.
0 votes 0 Answers Share Flag
Thu Sep 3, 2015

I think you owe the taxes. In fact you probably won the bid because all the other bidders looked up the tax liability in advance.

Many times there is a title policy taken out on these things, if you had one, you may be able to get them to pay for it. ... more
0 votes 2 answers Share Flag
Thu Sep 18, 2014
Dorene Slavitz answered:
I don't think so because of the loss of value with this type of "home". Build less and do it better. It will be worth more in the long term.
0 votes 2 answers Share Flag
Mon Dec 2, 2013
Kevin and Julie McLaughlin answered:
Mon Oct 28, 2013
Teri Andrews-Murch answered:
Hi Maribell

To post your question in San Bernadino, go to Advice on the upper menu bar, in the blue bubble (find your community) type in San Bernadino, that will take you to the Q & A for that area and one of the local agents that answer questions there can help you. ... more
0 votes 11 answers Share Flag
Mon Oct 28, 2013
candysmith282 answered:
Hi , i could get something nice, if you really interest okay , you could just contact me through this mail ,
0 votes 8 answers Share Flag
Wed Nov 30, 2011
Sheila Smith answered:
Hi Robin,

I have experienced this scenario a few times with seller's after they listed with me to sell their home. In some cases when a seller contacts an agent to sell they have already tried and failed at the loan modification option. What I have found is that some banks will contact the seller after the home is on the market and ask them if they want to pursue a loan modification instead of selling. If the seller feels that a loan mod is a workable solution, they may continue working with the bank to see if they can agree on some terms.

If the loan mod does not workout, because not everyone will qualify, the bank will either suggest that the seller continue with the short sale, or there we be an eventual foreclosure. Will you be able to purchase this home? It's hard to tell at this point because the seller's are more interested in negotiating keeping the home than selling it. Your only hope would be that the bank denies the loan mod and the seller continues with the short sale.
... more
0 votes 9 answers Share Flag
Wed Nov 30, 2011
Erin answered:
Hi Robin; This a great question and thanks for asking it.

A loan modification is just what it sounds like. If the homeowner wants to attempt to keep their home, the homeowner can request a modification to the terms of the loan existing on their home, for example, interest rate, repayment period, and/or principal balance reduction. If these modified terms are agreeable with the homeowner, they can stop and cancel the short sale per the terms of the purchase agreement with the Buyer as contained in the Short Sale Addendum and Short Sale Information and Advisory. If you are the buyer who has submitted an offer on this home, please reread these two documents.

I hope this helps.

Erin L. Phillips
Keller Williams Realty
DRE# 01474901
... more
0 votes 4 answers Share Flag
Fri Sep 17, 2010
Samantha Lees answered:
Hi There - I have lived in California my entire life and in both southern and now nothern California, now couldn't be a better time to invest in a home in CA. With that being said, I love Old Town Pasadena, it is a historical and charming community with tons of shopping and social activities. However, I am not positive if the school district is the best for that area, also to consider there are cultural pockets and neghborhhoods to be aware of.
Both Irvine and San Diego are great ciities, that will come with a heafty price tag, when seeking either a rental or a home, but of course it depends on the neighborhood. Irvine has some great schools and of course beautiful beaches. I am not familiar with Rancho Santa Margarita. I would check school districts using online resources ro really pin point the area that is going to work for you and yor family! Good Luck and Welcome To California!

Samantha Lees
Keller Williams Realty - Roseville
... more
0 votes 6 answers Share Flag
Tue Oct 6, 2009
Steven Ornellas answered:
Hi Sherry,

I'm not local to the Sac market so I would not venture a guessabout your specific area (Jim looks like he’s measuring the pulse pretty well); however, I came to the same conclusion as Elizabeth as far as timing in respect to a return to "normalcy" when I wrote the following blog post:

"Coming to a neighborhood near you: REO Shadow Inventory"

While the post focuses more on the causes of REO Shadow Inventory: 1) The Presidential Election, 2) the Troubled Asset Relief Program (TARP), 3) Direct Intention, 4) Bank Consolidation, and 5) An Ineffectual Loan Modification Program; I think you will find it a very interesting read.

Best, Steve
... more
1 vote 5 answers Share Flag
Wed Sep 30, 2009
Jim Walker answered:
SoCal thanks for clarifying.

So you suspect the listing agent is not transmitting your offer to the seller (A bank, I presume)
The banks will often instruct the listing agent to only submit the 3 highest and best offers or only offers received between certain dates. If you were one of a dozen or so offers in the middle or the back of the pack, then it was the listing agents duty to follow his clients express written instructions to transmit only the highest and best offers and leave the others in the tray.

Bank listing agents these days are more likely to be gate keepers (to keep people out) than the conduits that normal listing agents are. .
... more
0 votes 8 answers Share Flag
Search Advice