Some Websites other than what your agent can provide you with, do not update in a timely manner. As a buyer you want up to date information as soon as possible to enable you to find that perfect home. Contact a local agent to get listings sent to you as soon as they hit the market. The agent will send you listings from the MLS system. This is the best up to date service you can receive. All the best.... more
Your total costs will obviously be based on the amount that you pay for a home. Just because you're approved for $500,000, doesnt mean you will be spending exactly that much on the home.
you might want to have your realtor or lender run a few scenarios so that you can see roughly what your monthly fees will be at different price points. If you plan on putting in an offer, you can once again request this information, along with an estimate of your closing costs.... more
You want to live in the condo, and get a roommate, so that will limit where you want to purchase based on how far you are willing to commute from the place you currently work/live/want to stay. I'm assuming you have reasons you want to stay in Studio City. I don't blame you - it's a very cool place to be. My husband and I also own a martial arts school on Ventura,(Studio CIty Martial Arts) and we enjoy being in hub of everything that is happening there. I would suggest looking towards Valley Village, Valley Glen, the NoHo arts district, Encino, Tarzana, Woodland Hills, Lake Balboa. Going further North than Burbank will dramatically change your lifestyle experience. These areas will fetch a price a little more reasonable than Studio City/Sherman Oaks price tags, but will put you in a "reasonable" driving distance from the shining star of the Valley.
I am a Short Sale Specialist Agent in the San Fernando Valley & have successfully closed short sales in Studio City & Sherman Oaks. Please call me directly at 818-903-2040 or visit my website at www.short-sale-vs-foreclosure-help.com.
Sara Mehrpouyan CDPE
Specializing in Short Sale & Foreclosure
Direct phone 818-903-2040
Dre License #01712757... more
Oops, one thing I forgot, take into account parking and traffic from the Library, which is right around the corner from the park, and, contact DWP to find out what improvements/projects are coming up in the area.... more
If you have the income to qualify to purchase in this price range, you are giving a lot of money to taxes that you could be using to build even more equity than your down payment. If for some reason you have so many write offs that your taxes are minimal (does anyone feel that way? hmmm) you still can't beat the current interest rates. I do believe in the Studio City area it is a more balanced area than most and we are seeing multiple offers, which confirms it is not strictly a buyers' market. When the seller prices it under market, it is a seller's market on that property. The sellers in Studio city are pretty sophisticated and overall do get this strategy. So I say let's start looking...can't hurt! You might just find something that saves you a lot of taxes this year. Charlanne Divito, Dilbeck Real Living, Studio City, cell/text 818-414-1214. CA DRE # 00904230... more
You can pay him, the seller can pay your closing costs or the lender can do it for free. In the first two instances, remember that you are the buyer and you pay for everything in the end. In the last instance, remember that the lender will probably charge you a higher rate to do a no fee loan...so again, you.
Let me know if you have any questions.
#1 Listing and Selling Agent
Keller Williams West LA
There are several companies that cover California, and provide good coverage. It is important to get an upgraded policy, as most of the policies offer just basic coverage with many exclusions. For example, if you have a pool and equipment, it needs to be added, with an additional fee, for it to be included. Ditto for roof, some appliances etc.
I recommed carefully reading the policy to learn the inclusions and exclusions. Your agent shoud be a source of guidance to you.... more
Buying a home is more that the mere need of a roof over our heads, it is a significant investment and to a great extent it should be looked at as a business. The questions that you pose will be the same ones that future buyers will come up with...it comes down to VALUE!!! Are you getting this property at a value that reflects all these potential issues? Good Luck Investing
Manny P.... more
Agree with Joe who answered here that you should consider not throwing money at this home and get out of the purchase contract if that is possible.
If you are using a Realtor agent for this transaction, talk with that person and the responsible broker ASAP. If you are not using a Realtor, contact a lawyer now and as soon as possible about your contract rights and responsibilities.
Harrison K. Long, Explore Group, Coldwell Banker Previews, Irvine, CA.
Many agents have investors that we work with regularly. Some on retainer. Some just clients who buy several homes every year. We often run into buyers who say they want a foreclosure but are not really prepared to follow through. If you discuss your plans with me and we elect to work together under a Buyer's Agency Agreement, I begin that day (or night). You're on my list. Every morning I check the MLS for new listings that fit my buyer clients' needs. I also check for new competition for my seller clients. When I find a good value house that fits my buyer client, I call. They need to respond quickly by answering their phone and meeting me at the house ASAP. I will give them my professional opinion. We will write a contract. I will present it immediately. I will deliver the EMD check as soon as the offer is accepted. Clients who take too long to call me back, can't arrange to meet me in a timely fashion, or choose to disregard my advice and opinion will not get the house they want. I can only afford to spend so much of my time with clients like this before I have to let them go. I don't know your agent but if they have experience selling REO's, they know that the good deals go fast. If your agent has been selecting and showing you good value properties and you have not responded quickly, you may wish to change your tactics. If the agent is not showing you properties that are moving quickly, you may wish to discuss your expectations with your agent.... more
I think that short sales, as a whole, are handled wrong. Many agents send off every offer to the bank as if they already own the home. They don't, yet. The bank's position is to approve a settlement of the debt, they have approval power. So what I do is tell the listing agent that we will give them a good offer, and open escrow and then wait for bank approval. We put a small deposit into escrow and incur no fees. Then we wait. I also try and get them to use my escrow officer who is a short sale expert and she has been averaging 45 days, start to finish. This way, we are the only offer the bank sees, unless they ask for others, and they see they have a qualified buyer who is in escrow. Makes it easy for them to say "yes."
Hope this helps....if you aren't in escrow, then throw offers out and hope that they come back sometime. Sometimes they do, other buyers might find something else and you'll end up getting it.
I have more information on my website page....see below.
Hi Inga, that must be one heck of a nice townhome. I am guessing it's beach front in Malibu? The devil is in the details on renting or owning. In most cases what you pay is what is discussed with the landlord/owner/manager but make sure you understand exactly what you are responsible for paying. In such a high end property you may be obligated to pay a myriad of things, maintenence, yard care, association fees, utilities, insurance, there really is a myriad of possibilities. I'll be happy to look over your potenital lease agreement...if you invite me to your house warming party in your posh new digs!
I am also an agent in the area. I recently got buyers into two condos in the area and provided financing through my office. If you need any help or advice please feel free to e-mail me anytime. Thanks. Cameron... more