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91343 : Real Estate Advice

  • All22
  • Local Info3
  • Home Buying11
  • Home Selling0
  • Market Conditions0

Activity 19
Sun Aug 12, 2012
webinfo49 asked:
It's all one development. There is no sign on the property indicating management.
0 votes 0 Answers Share Flag
Tue Dec 18, 2012
Walter 'Skip' Kersten answered:
Hi R2D2,
Yes it is possible to sell and purchase at the same time. You make the sale contingent on the purchase and you get new loan approval contingent upon the sale. It will cost you around 7-8% to sell you existing condo figuring commissions and closing costs. Also, you should disclose the HOA issues to the new buyer.
Good luck,
... more
0 votes 3 answers Share Flag
Thu Jun 7, 2012
Jairo Arreola answered:
I recently sold a property in that area. My clients are very content. They are near shopping center, public transportation and Freeway. Also, Cal-State Northridge is nearby, and their daughter is planing on attending next year! So for them, it was a great area!

Everyone is different though. What are you looking for?
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0 votes 2 answers Share Flag
Wed May 16, 2012
Patty Allen answered:
DO NOT...I REPEAT...DO NOT CLOSE ANY OF YOUR CREDIT CARD ACCOUNTS! The longer you have had them and have paid faithfully on them, the higher your credit FICO score could be as they take this as one MAJOR piece of information for your credit worthiness. Did you apply for this credit card? Does it have a high credit limit? It may or may not hurt you. But if it does, it won't be anything major. Just don't fill out any applications for credit as the lender may look at that card and what the credit limit is and think you will be going on a major shopping spree! Tell the lender what happened. ... more
0 votes 6 answers Share Flag
Sat May 12, 2012
Tim Moore answered:
Speak to some Realtors and ask them to suggest a company or two. We deal with lots of lenders and know which are the best in the area we cover. I would never use a lender I can not go sit down with and talk face to face with, that's my 1st rule. ... more
0 votes 2 answers Share Flag
Mon May 7, 2012
Goldenheartsinc answered:
Mon May 7, 2012
Liliana Alfonso answered:
Hi Terry,
I'll be happy to assist you with your search. I've lived and worked in the valley for the last 27 years. The first thing you need to do is to get pre-approved by a lender again. We then can look within your price range, and be ready to put an offer. All the homes between $250-350K are very desirable and many times you have multiple offers situations. Please feel free to call or email me with questions or concerns, or if you prefer we can set up an appointment in person.
Best regards,


Liliana Alfonso
Realtor
Rodeo Realty
liliana2sell@gmail.com
818-414-0396 cell
818-761-7277 fax
www.liliana4realestate.com
DRE # 01759367
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0 votes 3 answers Share Flag
Wed Aug 10, 2011
Emily Knell answered:
I don't really understand your question.

The inspector & the Contractor are not Real Estate appraisers. Are you saying that they are giving you an opinion of value that is less than half of what the appraiser is saying the home is worth?

Regarding the fireplace, if you didn't know that it did not work & that's how you reported it on your Transfer Disclosure Statement, then you did the RIGHT thing. You're not a contractor, you never used the fireplace & you didn't know it wasn't working properly. You don't have to fix it if you convey to the buyer that the home is being sold in As-is condition.

If the appraisal came in short of the purchase price you & the buyer agreed upon, then there needs to be some re-negotiation. In this kind of market it is unlikely the buyer will bring in the cash needed to cover that difference. No one wants to pay over market value.

Shoot me an email directly if I didn't quite answer your question & I'll be happy to help you further.

EmilyKnell1@yahoo.com
562-430-3053 c
Realtor Since 1996
Main Street Realtors
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0 votes 4 answers Share Flag
Wed Mar 2, 2011
Jon Ferris asked:
0 votes 0 Answers Share Flag
Fri Nov 19, 2010
Brian Fisk answered:
The association is called; "6400 Burnet Villas HOA". I'm having trouble finding contact information but they can be tracked down. My wife and I conduct "Help for Homeowner's Seminars", for homeowners looking for solutions for their mortgage, including loan modification, etc... Please let me know if we can be of assistance! ... more
0 votes 0 Answers Share Flag
Fri Jul 30, 2010
CJ Brasiel answered:
Eddie -

The HUD-1 form will need to be updated to add the new name of assumed second borrower. This "final" HUD will have to be submitted to the approving short sale lender. Assuming the name addition does not change the loan approval, it will most likely not affect the short sale approval.

The short sale letter does not typically have the buyer's name, simply the seller's name and approved short sale amount.

Hope that helps.
CJ
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0 votes 6 answers Share Flag
Mon May 17, 2010
Emelia Sanchez answered:
Hello Ricardo,

Homepath financing is specific to Fannie Mae properties. Not all lenders are approved vendors of Homepath in CA you may want to contact Prospect Mortgage my contact is in Whittier if you would like her information please advise.

Hope this helps.
... more
0 votes 1 answer Share Flag
Fri Mar 26, 2010
Don Tepper answered:
If you don't need a loan for the rehab, then just use a conventional loan and fund the rehab yourself.

It also possible that Los Angeles has some programs that are applicable. Many cities and counties have such programs to encourage renovation.

Hope that helps.
... more
0 votes 1 answer Share Flag
Sat Feb 27, 2010
John Barry answered:
Hi Angel,

What particular property are you referring to? The HOA is different for each individual complex, although some HOA companies cover multiple properties. Often the roof repair would be covered, but it depends on the agreement that particular HOA has with the homeowners. Feel free to email me with more info & I will try to get you the contact info of the HOA to help you out.

Have a nice evening..

John Barry
DRE #01856079
Coldwell Banker Residential Brokerage
Cell: 323-810-7976
Email: john.barry@coldwellbanker.com
Facebook: http://www.facebook.com/RealtorJB
Twitter: http://twitter.com/RealtorJB
Web Reference: http://www.jbknowsthevalley.com
... more
0 votes 2 answers Share Flag
Sat Oct 10, 2009
Bill Eckler answered:
Alma,

The best resource for this information is your lender.......

Consider exploring the "space bar".......it's not a celestial water hole but one of those doo-dads on your keyboard.

Keep smiling
... more
0 votes 2 answers Share Flag
Mon Jul 20, 2009
John Barry answered:
Hi Nancy,

Did both you & the sellers initial the liquidated damages clause in the contract? If so, the likely maximum the seller can sue you for would be 3-1/2% of the purchase price - it would state the actual percentage on your contract. The amount the seller can sue you for for breaching the agreement would be capped at that amount.

Hopefully this helps - please email me at john.barry@coldwellbanker.com if you have any other questions.

Good luck!

John Barry
Coldwell Banker Residential Brokerage
15490 Ventura Blvd.
Sherman Oaks, CA 91403
Cell: 323-810-7976
Email: john.barry@coldwellbanker.com
... more
0 votes 3 answers Share Flag
Mon Jul 20, 2009
Melanie Mcshane answered:
My recommendation would be to hire a REALTOR to help you lease your home. They can advise you on what homes in the area are leasing for and give you advise on selecting a tenant. In addition, they can provide contracts to help protect your interests. A REALTOR will also assist in all of the necessary advertising of your home.
If you decide to rent your home on your own, Westside Rentals and/or Craigslist are the best bets!

I would be more than happy to talk to you more about leasing your home in North Hills.

Best regards,
Melanie McShane
... more
0 votes 2 answers Share Flag
Mon Jul 20, 2009
Jeffrey Schnabel answered:
Jj,

An appraiser is tasked with using "like" properties. If your general area has a high number of foreclosures, then the market considers foreclosures as like properties. Note that some lenders are pushing appraisers to be more conservative (exactly the opposite of what they wanted just 12-18 months ago), so there could be a general push for the lower end of your market. The only way to know if there was a mistake is to have access to an agent who could pull comparable data for you. If the comparable data shows that foreclosures are not prominent, then you may have a debate on your hands with the appraiser.

While the lender is the client of the appraiser, ask the lender that did the appraisal if you can talk to the appraiser to understand their findings. But don't get into an argument with the appraiser, that won't be beneficial. Just ask straightforward questions, and listen to the answers. Then if you can get comparable data that shows the appraiser should have considered different data, then you might present that in a second call to the appraiser and ask them why they didn't consider some of the comparable information that you've discovered.

Best of luck,

Jeffrey
... more
0 votes 4 answers Share Flag
Mon Apr 28, 2008
Jackie Petit answered:
Renting your current home is a great idea if you can qualify for the loan or pay cash for your new home without selling your present home. Talk to your bank or lender about that. Talk to your CPA or tax professional about the potential tax benifits. ... more
0 votes 7 answers Share Flag
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