Trulia Community - Advice from neighbors and local experts

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

Buying Houses In Us By A Non Resident All Locations : Nationwide Real Estate Advice

  • All696K
  • Local Info59K
  • Home Buying255K
  • Home Selling42K
  • Market Conditions26K

Activity 86
Showing results for buying houses in us by a non resident [Clear search]
Fri Oct 23, 2009
Lynne Mercer answered:
I just checked the MLS data for December of 2008 and the Palo Alto median price was 28.2% lower than in Dec. of 2007 (but up 1.7% from November 2008, with 22 sales in each of Nov. and Dec. of this year.) The average sales price was down 34.4% from December of 2007 (and down 9.4% from November 2008.) Interestingly enough, the number of days on the market was the same, 36, for December 2007 and December 2008.

You may be correct. This could be because fewer high end homes are selling, which would skew the average and median prices down. But my sense is that prices have also dropped for comparable homes (say 3 bedrooms, 2 bathrooms, 1600 sq. ft., south Palo Alto, for example) although probably not as much as the numbers above would suggest. Statistics always lag because we have to wait for escrows to close before we can have a true comparison.
... more
0 votes 317 answers Share Flag
Sat Jun 6, 2009
Ardell Dellaloggia answered:
Good morning, Brian

"bank properties" as in bank-owned properties, are the same as any other sale. Only difference is the seller is a bank. Short Sales don't have as high a success rate, but the discount can be larger and a large % of home buyers are choosing short sales and bank owned property somewhat equally.

Best deals are where there is a glut of what you want in your price range. While I almost never suggest a buyer agency agreement, many short sales are only noted as such in the agent remarks of the mls. Unfortunately that makes them harder for the general public to identify them. Sometimes a different property is a better buy than the short sale.

If you want a cheap trashy house that needs work, you can find them pretty far North and South of Seattle. If you want a nice house to live in that is closer to everything and also a short sale, there are some, but even at discount they can be $700,000 to $800,000.

Pierce County has the most newer home short sales at affordable prices. Builders everywhere are bargaining, but 85% to 90% of value is often "a great deal" here in the Seattle area in the prime living areas. 30% under peak and 10% to 15% below recent comps.

Depends on the strength of your cash position also. Hard to find a buyer who qualifies to the extent needed to get a really great deal. I'll be listing one next week in the $350,000 range, townhome in Green Lake, that my client bought in foreclosure for $260,000. He paid cash which made it very simple.

Sometimes it's hard for the buyer of your property, if you are going to turn around and sell it quickly, to get financing on a short flip like that. So it depends what you are going to do with it after you purchase it.

I woke up today at 5:30 a.m. with a splitting headache. I'll come back later with my glasses on and check the spelling :) If you have any other questions, ask them in the comments here or shoot me an email.

Here's a peice I wrote on the short sale process from the buyer's perspective. I wrote it for a client who was in escrow on a short sale last year. It closed and it took 90 days. That's is still the expectation. for the most part. There's another under it that you may find of interest written by Jillayne.

http://www.raincityguide.com/2007/12/13/should-you-buy-a-short-sale-property/

http://www.raincityguide.com/2008/08/04/why-do-banks-take-so-long-to-approve-a-short-sale/

There are many other posts over at RainCityGuide that you may find helpful.
... more
0 votes 11 answers Share Flag
Tue Sep 15, 2009
Mk answered:
I have made several posts here. Thanks to many of you (Steve, Pa_home_buyer, Chris, Matthew --), for the thoughtful answers. I got some good sense about the house market.

As for now, it is apparent that the PA house market is in downturn. While it is true that the house value may go up for very long term (10~30 years), a buyer may feel bad if his newly bought house is 200K lower two month later. For most buyers, the home purchase is the biggest investment in his/her life. For example, I would guess that the recent buyer in Tioga Court, Palo Alto, may feel terrible now. The ask price was 1.29M. He paid 1.45M. I believe that right now he would be lucky if he could sell the home at 1.15M. Or he could buy a similar home for around 1.1M. He lost 0.3M (which is after tax money) in less than 2 months. If including interest, he could lose 0.6M in total for the bad purchase.

Also the comeback time for the house market depends on affordable buyers and economy. The valley has benefited from the tech booms in last 2 decodes from computer, semiconductor, biotech, hardware and software. Now these industries are mature. It is not quite clear what will be the next boom. Before that, the home price may not start to appreciate and go up for a long time. Hopefully, the Silicon Valley will not follow the Detroit auto area, which boomed in 1950-70s and terribly down later.

With all these in mind, buying a home in this market is not an easy job (at least for me).

1st, when to buy? Although it is true to be difficult to buy at exact bottom, it may not be wise to buy at any time, especially in this apparent down trend time. Some friends bought stocks when NASDAQ was down to 1700 three weeks ago. Now it is 1500. They miscalculated the trend and lost a lot. Some people may argue the life quality in a home is better but underwater feeling may not be good either. Also buying a home some time later may not hurt life quality much. In short, any one has experiences and insights about when is a good time to buy a house in PA area? What are the symptoms of a relatively near bottom?

2nd. How to buy? If we look at the PA seller/buyer market, there are many emotional buyers (as in the above example) and sellers. The seller for a home in Carolina Lane, PA even increases his ask price from 1.5M to 1.58M for an Eichler home without a garage in this market. He/she wants to offer finance to a buyer with 7% interest rate! You bet the home is still on market. For a buyer, we need to be rational in this market. How much percent off the ask price shall we give an offer? How do we predict the down side in the following months after a purchase? Any expert thoughts and critical thinking?

Thanks,

MK
... more
0 votes 8 answers Share Flag
Mon Oct 5, 2009
Wayne Beals answered:
A keen observation.

Perhaps a lot of the reason behind this can be attributed to the fact that many of the properties on the market currently were listed and priced with comparables that were higher from an earlier period. Recent closings indicate the need for prices reductions and initiate lower buyer offers (buyers usually check the comparables before making an offer).

Over the last six months, Hyde Park and Kenwood have averaged exactly 89.74% of list price for closed single family homes.

Compare this to Lincoln Park which has averaged exactly 93.18% of list price for the same period.

Over the past three months, all lakefront communities from Rogers Park to East Chicago have averaged 91.56 % of list price at sale.

I do agree that list price versus sale price in Hyde Park and Kenwood has a larger gap than average, but it is not as much as you would believe from the examples that you have seen.

I have worked in Hyde Park and Kenwood for the past five years. Sellers traditionally don't price their properties with these ratios in mind. They are hopeful for "top dollar," regardless of market conditions and what "top dollar" is. As far as I can tell, these ratios show that sellers in Hyde Park and Kenwood have become more negotiable in regards to offers.

This would be a GREAT time to buy your dream home in Hyde Park and Kenwood, given the data. Find the home you want, check the comparables, and make an offer.

Best of Luck and, as always, contact me for further assistance.
... more
0 votes 26 answers Share Flag
Mon Jun 24, 2013
Edgar Theisen answered:
Absolutly,however, certain tax rules/laws apply.

Don't hesitate to contact me for more info.
0 votes 8 answers Share Flag
Fri Oct 3, 2008
Dorene Slavitz answered:
Dear ALT Buyer,
You have the benefit of a buyer agent's experience, since they are in Real Estate full time, they have a better handle on local market conditions. If they know the area you are interested in, they will also know the best places to look for a suitable property. In my case, I have listings that are not on the MLS from past clients, and business aquaintences. I can locate property, when none seems to be available. I know which areas are good investments..and which ones are risky.
The commissions are not paid by you, as a matter of fact, my services to you are without charge. I will be paid by the property seller.
... more
0 votes 44 answers Share Flag
Fri Oct 31, 2008
The Hagley Group answered:
Yes! Walnut Creek is much better in terms of arts, culture, theater, restaurants, entertainment, shopping, and more! I just sold a bbeuatiful 4BR/3BA home in a great neighborhood for $800,000. It was not new, but it had a nice lot which backed to open space, the community had a pool and parks, walking trails...and the home was large, bright, airy and in great shape.

Resale/appreciation should also be better in Walnut Creek. But more importnatly...it sounds like more of a community that you would enjoy. It's a great area!
... more
0 votes 14 answers Share Flag
Thu Sep 2, 2010
x answered:
If you are looking to purchase in NYC, here is my suggestion:

Seek pre-approval for a mortgage:
Typical time frame: 1 - 2 days
You must know how much you can spend before you spend it. Condominium apartments require at least 10% down; cooperative apartments generally require at least 25% down. However, every building is different. 15% of Manhattan's buildings are condominium buildings and the other 85% are cooperatives.
Seek Manhattan Real Estate Attorney:
Typical time frame: 1 - 2 days
You must find and work with a Manhattan real estate attorney. They need to specialize in Residential Sales in Manhattan. Mark David has referrals upon request.
Find a Broker to work with:
Typical time frame: 3 days-1 week
It is very important that you work with one single broker. Get referrals from colleagues and friends. Ask for a preliminary consultation to discuss your particular needs and situation. Look for honesty, integrity and professionalism. Be 100% forthcoming with your broker. Avail yourself of all of the expertise and services your broker can provide for you. As a buyer, do not focus on Brands. Look for a right fit.

Find an apartment:
Typical time frame: 3-6 months
Depending on what you are looking for, the length of your search will vary. The average person sees 20-25 apartments before deciding on one. Internet-savvy buyers save time by doing their 'homework' before their search. The average number of apartments viewed before buying by our internet buyers is 4-5.

Email or call me anytime!

Stephanie Davis
Associate Broker/Director of Clients and Business Development
917-405-0236
stephanied@markdavidny.com
... more
0 votes 10 answers Share Flag
Thu Oct 16, 2008
Dallas Texas answered:
I am assuming you are a non US resident if you going to obtain a loan requires additional requirements from the lender. Pros of foreclosures GREAT allows you purchase property with equity. You need to determine your short/long term goals. If you are going to purchase hold with tenant, or purchase then flip. Cons if you locate a property recommend in move in condition than requiring improvements due to distance working with contractors. Here in Dallas we do have great opportunities real estate investor. ... more
0 votes 9 answers Share Flag
Tue Jul 29, 2008
Dallas Texas answered:
I live on the lip of DFW airport frankly never hear the jets, if you think about it there is alot of noise pollution.
http://www.lynn911.com http://www.homes-for-sale-dallas.com
0 votes 20 answers Share Flag
Wed Jun 22, 2011
LaShawn Norden answered:
Hi! and Congratulations on your move to the best County in Central Florida! As a 35+ resident, I can remember the days when Oviedo was mostly pastures and seemed "so far away" from everything! Now, it's a flourishing city with a major university and a variety of housing opportunities.

As far as the Sanctuary, there is nothing "wrong" with the community. Like many other communities built in the mid 2000's when speculative buying was rampant and consumers were qualified for homes more than they should have been, this community was where many investors purchased and where Buyers chose to build.

Now that the market has softened and some homeowners have adjustable rate mortgages that they can no longer afford or investors have not been able to sell their investment homes, you will find that there is more for sale...not just in the Sanctuary, but in many newer home communities.

When you do purchase, it is important that you have a Buyer's Agent, who can provide professional representation and can share with you the trends for the community and help you to make an educated offer. I have successfully represented many Buyers in the Seminole County area and would be happy to guide you through the process.

If you are not currently working with an agent, I'd be happy to schedule some time so that we can talk over the phone or meet in person to discuss your timeline, expectations and financing abilities.

I can be reached at LaShawn@LaShawnNorden.com or at (321) 377-0157.

Have a great day!

LaShawn Norden, PA, REALTOR, ALHS
RE/MAX Central Realty
(321) 377-0157
LaShawn@LaShawnNorden.com

"The Only Florida Native You'll Need!"
... more
0 votes 23 answers Share Flag
Mon Aug 19, 2013
. answered:
Hi, let me know in what State you are looking for an agent and I can help you with that.
0 votes 21 answers Share Flag
Thu Jun 3, 2010
Barbara Carter answered:
Hi Sean

Welcome to New York!

I am a Realtor with Exit Realty Services in New Paltz NY.

I would certainly be happy to assist with your endeaver. Please contact me offline.
0 votes 16 answers Share Flag
Tue Jan 13, 2009
Greg Traub answered:
Best 3 area's to look would be Dr. Phillips and Windermere area, Lake Mary/Heathrow Area, and Winter Park. All three have very different feels though and would recommend you take a tour of the area's to see which would fit you best.

I'd be glad to help.
... more
0 votes 27 answers Share Flag
Sat Mar 29, 2014
Ines Hegedus-Garcia answered:
Bourdin,
I can tell you that I was just having the "cash flow" conversation with a colleague in the west coast of Florida (we're in Miami) and it may suit you to look away from the sun and sea (since the prices are higher and very difficult to cash flow) -

I don't know if Cleveland interests you, but take a look at http://www.clevelandrealestatenews.com/
Carole Cohen knows the market and will be upfront about your investment needs.

Good Luck!
... more
0 votes 120 answers Share Flag
Fri Jun 27, 2008
The Shelly Casteel Team answered:
According to March '08's Market Action report, Portland is still seeing appreciation. I personally am selling my listings within a month of them being placed active on the market. I tend not to put too much stock in national publications, according to them the bubble should have burst in Portland years ago. We are ranked #1 as the place to live for retirement, we are consistently in the top ten for livability, and have a large influx of out-of-state buyers. Sure, we have slowed down to a more realistic market, but that is to be expected. Can the Portland market decline? It is quite possible, especially if our national economy does not improve or worsens. But as with the stock market, real estate will eventually cycle back.
As for your question about your transaction, I suggest you speak to your Realtor. He/she can provide you comps for the Hawthorne area as well as explain the legal ramifications of your contract.
... more
0 votes 18 answers Share Flag
Fri Apr 18, 2008
Jeff & Linda Brandt answered:
Hi Michel,
Dreaming is very American! Welcome to Paradise! You are by no means dreaming just getting in touch with what you want to do & how much you want to spend. Now is the time to buy as it is most certainly a buyers market. What you want is out there & you can look for home directly on our website at www.RealtorsJL.com or we can send you homes to view. Just let us know what works best for you. We can be contacted at the numbers below or email us at RealtorsJL@aol.com. When it comes to helping a buyer we do it "With Pleasure, Not Pressure"!
Kindest Regards,
Linda

Jeff & Linda Brandt and Associates
Windermere Real Estate
47-250 Washington St. Suite B
La Quinta, CA 92253
760-776-2471 Direct
760-564-9686 Fax
Email: RealtorsJL@aol.com
Website: www.RealtorsJL.com
... more
0 votes 10 answers Share Flag
Mon Aug 24, 2009
M answered:
Dear Roslyn,
Congratulations! I would like to recommend Corie Seymour, Salt Lake City Real Estate. You can email her at this link: http://www.saltlakebankownedhomes.com/Util/EmailAgent.aspx?uid=307622&fromAgent=False
Also, her phone number is 801-554-4560. My firm can be found at www.marianschafferrealty.com. We help people locate retirement, second home and vacation property in the US and I have heard good things about Corie from a friend in Utah. The very best of luck to you!! If you need any other help or guidance, just email me. We know a lot of people in this business and don't mind helping.
terry@marianschaffer.com
The Schaffer Realty Group
... more
0 votes 9 answers Share Flag
Fri Apr 3, 2015
Paul Werling answered:
Fiona, Please take a look at http://www.FindAmeliaHomes.com . We are located in the Amelia Island/Fernandina Bch are, just 30 minutes north of Jacksonville. Just a fabulous place to live and only 20 minutes from the Jacksonville airport. You will also find additional area information at: http://www.teamwerling.com.

If you have additional questions, please email us at PaulWerling@Team.com .
Thank you,
Paul & Karen Werling
Team Werling
Prudential Chaplin Williams Realty
904-556-9402
... more
0 votes 50 answers Share Flag
Thu May 19, 2011
Meena Gujral answered:
Hi,

I am very familiar with the Stonbrae area since I have been seeing it from the starting stages, the breaking ground stages. I used to drive my daughter to School on Fairview.


I have also sold homes in the Bailey Ranch area which is just next to Stonebrae. At the time when Stonebrae homes were coming up, the homeowners in Bailey Ranch started panicking since they felt that the homes in Stonbrae were going to be sold for a reasonable price considering they were newer than Bailey Ranch, would have a new school and were built by Toll Brothers, Warmington Homes and Standard Pacific Homes, all of which are very reputable builders.

Because of Stonebrae, all of a sudden there were 20 homes on the market at one time in Bailey Ranch which was very unusual since people really like that area and had planned on living there for a long time. It was with great effort that some of the listings sold there, fortunately mine was one of them.

To make a long story short, what I am getting at is the talk about the Stonebrae Elementary school being very good and homes starting at a reasonable price was a concern for other good areas of Hayward.

The Stonebrae community is one of a kind especially for Hayward and the surrounding areas. Stonebrae Elementary school opened just last September so it is hard to say how the school is going to be in the future. According to Lisa Nolting, the new Principal, "Stonebrae Elementary will truly be a state-of-the art facility.

However, the truth is that Stonebrae elementary is not exclusive to the Stonebrae area and as you are probably aware Hayward schools are not the best when compared to Castro Valley, Fremont or other surrounding cities. So at this time it remains to be seen if this school will be better than the other Hayward schools.

In 1999 I was going to buy a home in Bailey Ranch, but after a lot of thought about the schools, I decided to buy a home in Five Canyons in Castro Valley. I had no regrets with that decision and my kids did very good at those schools and we really enjoyed the area.

Another fact I did not like abour Bailey Ranch at the time was that it was very windy up there. I don't know if it is the same case in Stonebrae, it probably is since it is so close to Bailey Ranch and is up in the hills, but you should consider that also before purchasing a home there from an investment and a resale point of view. Buyers do not want to be in a windy area. They want to be able to enjoy the outdoors.

I guess I have said more than enough. Please let me know if you have any more questions. I would be more than happy to help you.

Thanks

Meena Gujral
Help-U-Sell Achievers Realty
40083 Mission Blvd, Fremont, Ca 94539
510-279-9580
... more
0 votes 20 answers Share Flag
1 2 3 4 5
Search Advice
Search