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Thousand Oaks : Real Estate Advice

  • All143
  • Local Info16
  • Home Buying53
  • Home Selling8
  • Market Conditions12

Activity 142
Mon Mar 19, 2012
Barry Shapiro answered:
Hi John,
Find yourself some inexpensive housing and then SAVE, SAVE SAVE, until you have between 1% and 5% for a down payment on your 1st home. Stay away from new cars, coffee shops and eat out less frequently. In the meantime, we really do not find many lease-to-own properties on the MLS. There are a few on Craigslist -- but watch out for scammers!! I hope this helps! ... more
0 votes 2 answers Share Flag
Tue Feb 28, 2012
Barry Shapiro answered:
Try looking in North Ranch Country Club, Westlake Village CA.
0 votes 6 answers Share Flag
Sun Feb 12, 2012
answered:
I had a case like this 1 year ago. One of my former clients passed away and his wife (who was not on the loan) wanted to retain the property. Luckily my clients decided to Quit Claim his spouse on title after closing. Now on title, she has right to the property. She decided to keep quite and continue making payments. To date the current servicing lender has excepted all payments and has not called the Note due via the Acceleration Clause in his loan documents. There are ways to protect yourself via a Family Trusts, I would advise that you and your husband speak to an Attorney or Financial Planner to better prepare for any unforeseen tragic events.

Best of Luck!
... more
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Thu Aug 18, 2011
Janey Bishop answered:
Depending on what you are trying to accomplish it might be faster and less expensive to go to small claims
0 votes 3 answers Share Flag
Sat Aug 13, 2011
Gerard Carney answered:
Curt you were thinking wrong, most asking prices aren't even accepted, that is because the Realtor that listed it had to come up with a price, and that price was not necessarily one the bank agrees to except but rather a teaser price o bring interest to the property! The fact that you are paying cash has nothing to do with thinking you can get a discount! ... more
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Wed Jul 13, 2011
Jane Grant answered:
I like First American Home-buyers protection. They have a really nice and user friendly site and my clients have reported to me that they are extremely happy with their plans: https://homewarranty.firstam.com/Default.aspx ... more
0 votes 3 answers Share Flag
Wed Jul 13, 2011
Adam answered:
Hey Joe - our trusty inspector! Yes, the sellers did disclose, initially, that there were "cracked roofing tiles", and as such, we were technically informed that the tiles were cracked. However - and I know this because I checked - they were not cracked or damaged in the area where the termite repairs were completed (I should have taken a picture, right?). There was considerable damage following the repairs. Regardless, instead of wrangling over a few hundred dollar repair and possibly delaying closing, I decided just to proceed with the transaction (this being our 3rd escrow). It just left a bad taste in my mouth with regards to the sellers.

Thanks for doing 2 inspections for us, and being an all-around good guy!
... more
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Sat Jun 25, 2011
Jeff Smith answered:
Kim-Did you proceed with this ? We have been performing succesfull flips for several years. You will have some that work out great and some that don't work out so great. Typically purchasing at trustee sale is the best way to go. Downside all cash needed. You can expect to earn anywhere from 5%-20% ROI on your capital if all goes well. I have seen some projects return over 30%, but that is rare. If you want I can do a complete flip analysis for you using our modeling software we use for our LLC etc. I am in Newbury Park and happy to help. Real Estate Investing is my passion...Have a great weekend ... more
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Fri Jun 17, 2011
Ted Mackel answered:
I wanted to clear up some information. In California it is very rare to see a Mortgage. We are a Trust Deed State. There is no Judge involved in the foreclosure and no judgement involved either. The Trustee has the power to sell the property non - judicially.

In a mortgage there are only two parties, the lender and the borrower and the Lender has to go to court in front of a judge to foreclose. California is not a Mortgage state. Does not mean that mortgages can't exist here, if they do it is going to be rare.

In California we use a Deed of Trust which involves three parties. The Borrower known as the Trustor, The Beneficiary known as the Lender and the Trustee - a third-party that holds the title in trust until the loan is repaid.

The term mortgage is used loosely here in California much like Xerox or Kleenex.

For more information see http://goo.gl/45vnN This link has a detailed article on California Foreclosure Time Frames
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Thu Jun 2, 2011
Barry Shapiro answered:
The Hillcrest Terrace Townhomes have declined in value, along with the other homes in Ventura County. Currently there are 2 active listings priced from $185-235K. There are options available to you, as a homeowner. Check out the link below for value, and then do your research to get answers to your other questions. http://www.marketsnapshot.info/MSReport/RTMSMain.aspx?cnsmr=0&ReportId=e1a37b87-a72e-4308-beb2-9ea057381203&instanceId=31e00b62-499e-4684-bed4-2d8b9fb250b3# I hope this is helpful. ... more
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Sat May 7, 2011
Barry Shapiro answered:
Glad this was helpful... The number for Farmer's is: 805-777-8912. Your NHD Report (Natural Hazards Disclosure) will address the severity and risk factor for the home's specific location. As part of the Ventura County fire hazard reduction program, the City of Thousand Oaks rolls out a Weed Abatement Program every April -- going through June. Notices go out to vacant land / homeowners in the affected areas: http://www.toaks.org/government/depts/public_works/landscaping/weed.asp ... more
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Sun Apr 3, 2011
George Cabrera answered:
Hi, Shopping4home

A rough estimate would be $2,500 - $2,700 monthly $330,000 - $350,000 sale price. Most lenders prefer your mortgage payment to be a third of your income. Keep in mind taxes and insurance above utilities. Home prices range any where from $150,000 - over $1 Million in Thousand Oaks with the median price being $500,000. Ultimately it will depend on what your necessities are eg., close to freeway, near schools etc. Feel free to give me a call or send me an email to discuss your needs. I am able to send you the most up to date homes for sale.

Thank you,

Jorge
... more
0 votes 6 answers Share Flag
Sun Mar 20, 2011
Barry Shapiro answered:
Here's the updated quarterly Market Snapshot. It appears the home price range is now in the mid-300s to very low 400s, depending on amenities, location and condition: http://www.topmarketer.net/MSReport/RTMSMain.aspx?cnsmr=1&ReportId=4b21735e-3897-42fb-82cc-331e9479469a&instanceId=37a975fc-eb36-4554-83a8-6850d88d7f35# I hope this report helps. ... more
0 votes 13 answers Share Flag
Mon Jan 10, 2011
Kevin Walton answered:
If you using a 203k loan for remodeling purposes I suggest you use a contractor who is already knows the 203k nuances and requirements. 203k contractors.com are certified so they are familiar with the program which makes for a smoother transaction. There is list of contractors to choose from.
http://203kcontractors.com/
I wish you the best.
KW
... more
1 vote 8 answers Share Flag
Wed Nov 17, 2010
Barry Shapiro answered:
Losing Sleep,
So, hopefully (a year and a half later) you were able to work with your lender to successfully enact a loan modification program that's affordable. Too many local homeowners are scrambling for answers to their unique yet relevant financial dilemna, based on a mortgage that's greater than their diminished equity. We are here to assist you in any way we can. Happy Holidays! ... more
0 votes 8 answers Share Flag
Mon Oct 4, 2010
Jeff Smith answered:
Sabine-

I have our website set up so you can track NOD's-Auctions etc as a courtesy to our clients. I don't advertise this but I am giving Trulia a shot. Please use the link here to serach NOD's etc. It will provide you some information and if you require more indepth just email us and we will send it over. There are still several banks that do Stated Loans for self employed borrowers. If you need additional info on those let me know as well. Good luck. ... more
0 votes 11 answers Share Flag
Tue Aug 24, 2010
Tim Comstock answered:
Hi,
I checked multiple sources and did not find a default notice filed which is the first step in the foreclosure process. I haven't looked at the house but maybe it lacks maintenance and looks like a foreclosure.
There are a few homes in the area that are on the road to foreclosure which I can give you auction dates and amounts if you are cash buyer with a strong stomach for some risk or unknown cost. Other wise I would suggest you stick with the short sales or REOs that you have more control over price and terms. Good luck.
... more
0 votes 3 answers Share Flag
Tue Aug 3, 2010
James Gordon ABR SFR SRS answered:
Es there is goverment paid forclosure avoidance help. HUD pays for the service with a one time fee. If you meet the income guidelines for your county there is no charge and if they can get the forclosure stopped there is actually a bonus in it for them from the government. Here is a link to the agencies in California that are HUD approved.
http://www.hud.gov/offices/hsg/sfh/hcc/fc/index.cfm?&webListAction=search&searchstate=CA&filterSvc=dfc

Good Luck but I would make a call to a company on this list as my step.
... more
0 votes 6 answers Share Flag
Mon Aug 2, 2010
Spirit Messingham answered:
Despite the market, and it is not good, there are other questions you need to ask yourself as well. How are you for time management? Most agents are a 1099, meaning no salary, no health care, nothing provided for you. Some brokerage provide leads and floor time, most do not. Are you ok financially for a few months without any income? Cause that can happen, especially when you are new. It takes time to build up solid referrals, contacts, and networks.

Just wanted to add some things i didnt see anyone else talk about.

Good luck.
... more
0 votes 9 answers Share Flag
Thu Jul 8, 2010
Ted Mackel answered:
Help,

I recently had to sign a court document the verify the BPO I did on a property that was later subject to a BK. The document from the BK Court was "Declaration of Ted Mackel in Support of Wells Fargo, N.A.'s Motion for Relief From the Automatic Stay". The reason why I was asked for the Declaration, was so the lender could move forward with the foreclosure. BK will stop a foreclosure but that may only be a temporary stoppage.

Unless you were in negotiations for a loan modification or a short sale, the banks will foreclose, but here is the "Catch 22" as I understand if you are in BK then you cannot discuss a Loan mod or a Short Sale with your Creditor.
... more
0 votes 7 answers Share Flag
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