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Home Buying in Watsonville : Real Estate Advice

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  • Local Info3
  • Home Buying9
  • Home Selling0
  • Market Conditions1

Activity 9
Wed Jul 10, 2013
Randall Ortiz answered:
Are you looking to purchase in that area?
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Fri May 24, 2013
Randall Ortiz answered:
Mon Apr 15, 2013
Randall Ortiz answered:
Mon Mar 25, 2013
Angie asked:
Thu Jul 12, 2012
Juliette Ferguson answered:
It sounds like a CPA or other tax professional is the person to ask regarding this. I know a CPA who also is a R.E. Broker if interested. I am not sure if you are asking from a legal perspective or tax perspective. Some areas allow only weekly rentals, others require a month - but the other answers below are good answers - I think we all need more information to assist further. ... more
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Thu Jul 12, 2012
Ron Thomas answered:
LISTING PRICE
Understand that the LISTING PRICE has one primary objective, to attract attention: It is not intended to be set in stone, and in many cases it is not even a good guideline toward the SELLING PRICE.

Some Sellers believe that by setting the LISTING PRICE high, they can always come down, and people will make an offer anyway: WRONG! Buyers will just bypass the property and look at houses that are within their price range. And six months from now, the Seller will slowly start lowering the PRICE, (this is called “chasing the curve”) and Buyers will be asking the question; “What’s wrong with that house?” and “Why has it been on the Market so long?”

Other Sellers set the LISTING PRICE low, to attract multiple offers. (The correct strategy.) We are asked; “Aren’t you obligated to sell at this price if someone offers it?” The answer is probably not; for that to happen, you would first have to have only one offer, and secondly, the offer would have be exactly the same, down to the smallest detail, (please discuss this with your Realtor).
Another thought; Buyer will search for potential properties by groups; for example, $400,000 to $450,000, and $250,000 to $300,000. If your house is priced at $460,000 or $310,000, the Buyers will never see it. (something else to discuss with your Agent.)

Different Banks have different philosophies about pricing their properties: You cannot draw any conclusions without a good analysis.

Have your Realtor do a CMA, (Comparative Market Analysis) to help you determine your Offering Price. It is the surest way to determine the Market Value of the property.
... more
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Mon Jun 25, 2012
SantaCruzLender answered:
You have 10 days to complete and review your inspections and communicate, in writing, back to the seller whether or not you are satisfied w/the condition of the property. Most contracts convey the home in an 'as-is' condition subject to your right to inspect the property thoroughly... if your investigations reveal any deficiencies of a material nature you can cancel the contract without any penalty. Your Realtor will guide you through all your options. ... more
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Sat Jun 19, 2010
John Mondello answered:
Debbie,

Up to 10 per Fannie Mae guidelines. I just crossed the threshold of 4 about a month ago. Took a little patience because a lot of the larger banks and lenders (Chase, Wells Fargo) will still not do more than 4 but the lenders should be able to find you something.

My guess is that the banks are overcorrecting in reaction to what's transpired over the past year or so and that they are allowed to be more restrictive than Fannie Mae guidelines if they choose.

John J Mondello Jr, Realtor
Keller Williams
(225) 329-8119
"I find the house, you make it home."
... more
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Wed May 19, 2010
Gina Olivarez answered:
1. Get new agent
2. Remove any credits that you may have asked the seller to debit
3. Propose a higher down payment
4. Provide proof of your down payment
5. provide a pre-approval letter
6. Propose to purchase "as-is"
Reasons for a short sale delay:
-the listing agent may not be experienced in short sales
-the seller may have multiple liens attached to the property
-the listing agent is not communicating enough with the sellers bank
-the sellers may be near foreclosure
-the sellers may want to keep the home & may be working out a plan with the bank
-BEWARE!! some distressed sellers are attempting to re-purchase their home in a short sale with someone elses credit (that may be fraud), and delay the sale until the sellers finds a canidate (usually family or friends).
Do not get disappointed if your dream home is a short sale...just make sure you have an experienced agent.
... more
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