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91390 : Real Estate Advice

  • All7
  • Local Info1
  • Home Buying3
  • Home Selling0
  • Market Conditions0

Activity 91
Tue Sep 3, 2013
Charles Dailey answered:
I'm in MN but licensed there. I can do conventional privately insured loans with a 669 fico but they're pricer that those with higher scores. If you can go FHA, that might be better.
0 votes 9 answers Share Flag
Sat May 12, 2012
Paris and Connor MacIvor answered:
There are several factors to be considered. Potential appraised value, time on the market and actual ownership. On a short sale the trick is being the accepted offer. On a foreclosure it is about activity and how much faith you have in your banks appraiser. On a standard it's about time on the market and comps. There is of course some overlap but trust in your real estate professional. They will be your best guide. ... more
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Sat Mar 24, 2012
Crystal Sheppard answered:
It's believed that the entire Santa Clarita Valley will experience reasonable appreciation over the next 5 years, beginning sometime in 2013. Interest rates remain low, and there's actually a shortage of inventory in the valley currently. Additionally, lending guidelines have loosened over the past 12 months, making it easier for first-time and move-up borrowers to obtain financing. Limited inventory + affordability has always equaled greater demand, and therefore rising prices.

The areas to really keep an eye on would be:

1. Westridge in Valencia
2. All of Stevenson Ranch (just outside the city limits)
3. The Summit in Valencia
4. Bridgeport in Valencia
5. Creekside in Valencia
6. Fair Oaks Ranch in Canyon Country

Areas with high mello roos tax should see a slower rate of appreciation, because these areas bring significant additional costs to a buyer, without as much of a tangible return. These areas include:

1. Tesoro in Valencia
2. Newer homes in Saugus Copperhill North
3. Much of the newer construction in Saugus Plum Canyon
4. West Creek and West Hills in Valencia

It's important to have realistic expectations about appreciation. The years of annual double digit appreciation are gone - probably forever - but that's OK. Affordability is one of the keys to our economic recovery, and the opportunity for home ownership has never been better. Buying now is the way to get in at rock bottom, before the expected appreciation occurs. And holding real estate long term is still one of the safest investments you can make.

Crystal Sheppard, Broker
Sheppard Properties
661-810-8259
... more
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Thu Mar 15, 2012
Paris and Connor MacIvor answered:
Knowledge of the local real estate market. Putting Value first. Keeping current, not just with real estate, but with Lending Practices, Escrow guidelines and distressed real estate methods of operation.

Never ascribing to the "Set it and Forget it Philosophy".
... more
0 votes 4 answers Share Flag
Mon Mar 5, 2012
Felicia Grady answered:
A short sale will take months to complete. In some instances, the time period can be shorter, and in other instances, can be significantly longer...and some short sales are not completed at all. Briefly, some of the pitfalls include: lienholder(s) not approving the short sale; or there may be approval by lienholder(s) but not at the listing price or at the price the buyer expected; or there may be approval but the seller or buyer may not agree to the terms, such as having the buyer contribute money toward the release of a second lien, including back-owed HOA dues; or if the house is in default, it could be foreclosed on before a short sale can be consummated. This is not a complete list of pitfalls. If you want to pursue a short sale, be sure that the Realtor you are working with knows enough about short sales to be able to ask the right questions of the listing agent, and ask your Realtor whether the listing agent, too, knows the short sale process, in order for you to have the best chance of being able to buy that short sale property. For more information, please see the Short Sale Q & A on my website which will explain a bit more about the pros and cons of buying a short sale. ... more
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Mon Mar 5, 2012
Tony Lewis answered:
First time buyers are really buyers that need to learn and understand the buying process. The first step is to find a Realtor that you feel comfortable with and is professional. You should always work with a Realtor that knows the community and has the much needed experience to walk you through the entire process. Next is to settle on a lender and again knowledge and experience is a major advantage to you. All buyers will need to learn the new changes in the buying process as the foreclosure and short sales are dominating the current market. Call, text or email with any specific questions or concerns or to have a referral to a lender or Realtor in another community. I work and know the Valencia, Stevenson Ranch, Saugus, Newhall, Castaic, Canyon Country & Santa Clarita, California communities. I bring 32 years of local knowledge and a strong commitment to my client's success! ... more
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Sun Mar 4, 2012
William Boyd answered:
American Water Wells is our best local well inspector. However, you need to know what to ask for. There are many different tests. I always ask for a well production test and a title 22 water quality test. You can read my report entitled "Buying That Special Place In The Country" at www.BillBoyd.com ... more
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Mon Mar 5, 2012
Tony Lewis answered:
Every aspect of the contract is negotiable! There is the standard practice in which each party pays their own fee, however, it is possible to have the seller pay all or part of the closing costs. In fact, it could be negotiated for the buyer to pay sellers fees including commission. Asking for the other party to pay fees makes it somewhat more difficult in many cases for many reasons. Call, text or email to discuss specific circumstances!
Tony Lewis
RE/MAX of Valencia
Cell - 661-510-7975
... more
0 votes 3 answers Share Flag
Mon Apr 15, 2013
Tony Lewis answered:
My suggestion to those listing or thinking of listing with me are first and foremost, don't spend anything on the home that will not bring back the same or more money. The cheapest things are the first things to do. Clean the front yard, water the grass, add color and freshen up the look of the front entry to the home. The first impression is street appeal and this is the focal point that will allow a potential buyer to determine whether they will have an open mind as they view the rest of the home. Declutter, clean and remove excessive furniture. The garage is a selling point but storing extra items there is better than making the home look small. No Pet Smell in the home is mandatory. Showing the home with as much light as possible is also a cheap fix. It's too late to remodel so make due with the space that is now in the home. Paint and carpet are expensive and only needed if the home has been run down. Call, text or email to meet to discuss listing a home in Valencia, Stevenson Ranch, Santa Clarita Valley and Santa Clarita, California! ... more
0 votes 6 answers Share Flag
Thu Mar 1, 2012
Paris and Connor MacIvor answered:
We put together an entire series about first time buyers. Hope it helps.
0 votes 1 answer Share Flag
Fri Mar 2, 2012
Lance King answered:
Gary,

No, all agents/brokers don't work this way. Unfortunately new construction developments usually require registering with an agent so if you did that here there might be an issue using a new agent. I would tell her that you have decided to get alternate representation and have them sign off on any commission for this property in writing if you did register.

Also, most new developments try to hold firm on price- especially at the beginning - because they are setting the bar for future offers. However, you can often get a lot of other concessions such as the following:

upgrades on finishes/flooring/fixtures/appliances, etc...
Paid HOA dues for up to 1 year (depending on lender)
Credits for closing costs

These items can amount to a lot of money which is good for you, and the price shows as asking price, which is good for them.

You also figured right - where an excellent agent/broker shows their expertise is once a property is targeted.

And you are right about something else. If you are sitting with your agent and you are the best negotiator in the room you need someone else.

Best Regards,

Lance King/Owner-Managing Broker
lance@fixedrateproperties.com
415.722.5549
DRE# 01384425
... more
0 votes 12 answers Share Flag
Sun Feb 12, 2012
Marc Schwartz answered:
Big choice on moving, I made the decision 10 years ago to move from Encino to the SCV. My office is about 28 miles away now but you can't go wrong in moving out here.

Call me at my office to talk 818-885-5615 or use my website at www.PropertySearch411.com to really get started.

Marc Schwartz
... more
0 votes 16 answers Share Flag
Tue Jun 5, 2012
Marc Schwartz answered:
Yes, a bank can foreclose on a home while a short sale is in process. I sell a lot of REO's that have been in some type of short sale process, one thing that needed to be done is make sure the trustee sale is extended. The bank does give notice to the homeowner the first time but a sale is usually extended a couple of times but sometimes with some agents they will forget to follow up and then the property is sold.

The most important lesson we've all learn is to follow up with the everyone to make sure that the foreclosure & shortsale department are up to date on all aspects of the sale.

I can go on with other situations and you'll receive many others responses from agents but no one really wins when a home get foreclosured.

Good luck.

Marc D. Schwartz e-Pro, CDPE
Prudential California Realty
21049 Devonshire St.
Chatsworth, Ca 91311
Realtor® DRE#01074603
#1 Office Producer YTD

Direct: 818-885-5615

Selling: http://www.PropertyValues411.com
Buying: http://www.PropertySearch411.com
ShortSales: http://www.SellMyShortSaleFast.com

Web Reference: http://www.MarcSchwartz.com
... more
0 votes 7 answers Share Flag
Sat Nov 19, 2011
Alain Picard answered:
I would definitely consult with a real estate attorney about this. This should have all came up when you purchased the property. I would also call the title and escrow company that you dealt with when you purchased the property and ask some questions. ... more
0 votes 10 answers Share Flag
Tue Oct 25, 2011
Rudi Hofmann answered:
Here you go Heidi: http://www.mortgagebankers.org/files/StateInterestonEscrowLaws-4-10-07.pdf

Happy funding, Rudi
0 votes 3 answers Share Flag
Sat Mar 24, 2012
Richard Schulman answered:
Things are moving and the market is active right now. I can't speak for your exact project, but if the prices are starting to high and not reducing far enough, they won't sell. If you send me your address, I can give you a better idea of whats going on. In general condos and other lower priced homes are the most active in today's market. You can sell your home!


Richard Schulman
#1 Listing and Selling Agent
Keller Williams Westside Realty
310-482-0173
schulmanrd@yahoo.com
... more
0 votes 17 answers Share Flag
Sun Mar 4, 2012
Realty One Group Solutions answered:
Yes I have been very successful doing exactly that. It requires that they resubmit the file for a new HAFA approval, but a good AM can help walk you through it. It depends on who the bank is and what the rest of the file is. Call me anytime and I can help you. I am very good at fixing exactly these kind of problems, but I need more information.

Thanks,
Rich Szerman
Silver Creek Realty
661-253-3000 x 2009
... more
0 votes 4 answers Share Flag
Fri Sep 16, 2011
Tony Lewis answered:
Both Buyers and Sellers are looking for honest, professional representation. Communication is key and knowing that they are being heard are also top concerns. Recently both buyers and sellers seem to have lost the importance of local representation. This may indicate that buyers and sellers have learned to use the internet so well that they no longer understand the value a Realtor that knows the community brings! ... more
0 votes 2 answers Share Flag
Sun Apr 29, 2012
Tony Lewis answered:
Unemployment and undeclared income will not be counted as income since all income needs to be verified and not have a limited time of payment. You will need to show 2 years of employment at one job or in the same field of work. However there are ways to purchase a home with a cosigner or all cash. Let me know if you would like to disuss this further or if speaking with a lender in confidence would help. Perhaps buying a home in the near future will work for you! ... more
0 votes 6 answers Share Flag
Fri Apr 15, 2011
Marie Souza Team answered:
This depends on whether or not the 1st offer falls through. I recommend still looking. You never know & it's better to be prepared. Good luck!
The Marie Souza Team - Top Selling on Cape Cod
Phone: 508-790-2000 Fax: 508-790-4005
info@mariesouzateam.com
... more
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