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91784 : Real Estate Advice

  • All13
  • Local Info1
  • Home Buying9
  • Home Selling1
  • Market Conditions0

Activity 32
Sun Sep 23, 2012
Anna M Brocco answered:
Since no link is visible and address given, you may wish to ask your question again--or any local agent can help you, contact any local realty office and inquire.
0 votes 4 answers Share Flag
Tue Aug 24, 2010
Don Tepper answered:
No. Not strange at all.

That's how it's done. What it means is that the house you bid on probably is worth more than your bid.

What would have been bad is if the appraisal came back for less than you offered. But it's very, very, very unusual--especially in today's market--for an appraisal to come back higher than the offering price.

And, really, it's been that way for years. Don't worry about it. It means you'll get the loan for the amount that you need--based on the appraisal.

Hope that helps.
... more
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Tue Nov 2, 2010
Dan Chase answered:
Below is one possible answer. See what you think.
0 votes 10 answers Share Flag
Tue Jun 22, 2010
Christopher Lefebvre answered:
Zillow has an estimate of $466k. If you ask a local real estate agent in your area for a CMA report you can get a better estimate.

Keep in mind, that comparable sales don't always take into account the condition of the home. If this home is in need of a lot of work, then the actual value could be lower than the comparable properties. If it is in pristine condition with desirable amenities, the value could be higher than the comparable properties. ... more
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Tue Jun 22, 2010
Jami Dennis answered:
Why not communicate that with the agent? I bet you will be surprised. Lack of communication seems like it is an issue here.

Most FSBOs end up listing with a Realtor in the end. So, if it really isn't working out, shop around and ask people for references to find an agent that better suites your specific needs. ... more
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Tue Jun 22, 2010
Don Tepper answered:

You have steady income and 25 years of employment. You have savings. How did you manage a short sale? Why did the lender permit it?

I'll let the mortgage brokers chime in here on whether lenders might consider you. But, without appearing judgmental, suppose a lender asked you: "With solid employment, good income, and cash in reserves, you were involved in a short sale just a year ago. What assurance can you give us that you won't do the same thing again?" What would your answer be? ... more
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Tue Jun 22, 2010
Diane Wheatley answered:
As a fellow Uplander with a child that attended the Upland Unified School District all 12 years, I can offer you my personal opinion. My professional opinion is not appropriate and it is always a good idea to do your own research on the school systems. Talk to friends and family in the area, contact the school district directly for testing scores, classroom sizes, distinguished school awards, etc.

North Upland tends to be more desirable specifically within the Peppertree and Valencia elementary school districts. Both of those schools attend Pioneer Jr. High located in a very nice area of North Upland as well. Upland has just one high school. My daughter currently attends there as a Senior this year. I've been very pleased with the academic curriculum offered in Upland and feel that my daughter was able to achieve top honors in her school years allowing her to attend a fine college next fall.

Check my website for links to the local area school information and testing score details.

Best of luck to you. If I can be of any further assistance, please contact me anytime.

Diane Wheatley, Broker
(909) 981-5400
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Thu Jun 4, 2009
Matthew Bartlett answered:
Hi Jennifer,

It appears your question was lost in the shuffle. I have a friend who started a business just like this. Many Cities have Codes on the books that address minimum standards when it comes to the housing community. My friend started out by attending the local City Council meetings. When the Public opinion period came up he stood up and asked the Council if there were minimum standards or codes on the books with regards to homeowners keeping up their properties. The Council said yes. He pointed out all of the bank owned properties whos yards were overgrown and dead. He mentioned that he started a management company for the purpose of taking care of such properties. He pointed out that the City could hire his company to take care of the homes and then a bill could be assesed to the homeowner. The City liked his idea and signed a contract with his comany for 2,000 homes at $100.00 a month for each home. His company will make over $200K in it's first year of business! Goes to show if you have the right mindset, and your're not afraid to take a chance success is waiting for you! Good luck

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Tue Apr 24, 2012
The Hagley Group answered:
this home does not appear to be for sale...
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Sat Dec 27, 2008
Diana Margala answered:
Hi Ktong;

I always suggest that my clients check with the police department regarding the neighborhood crime, since any problems should be public record I would suggest you start there. You also might want to also check with the neighbors usually you will find them very helpful. You can have your agent pull the chain of title to know how many other owners there where and how long they lived in the home.

Diana Margala 909-945-5763
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Thu Aug 27, 2009
Vicky Chrisner answered:
It can be. Make sure you understand the expectations fully. In that you use the term "investor" I gather it is not someone with whom you have a close relationship? It is my goal that we will be able to put up 10% towards a down payment for each of our children, matching their own contribution.... and we'd consider that an "investment"... although we'd structure it to share the increase in equity when they sell or are ready to "buy us out", quite honestly, I hope we'd never need the money back from them. We have 4 kids, so there's no way to know what our future holds. THAT will be a GREAT way for my kids to become homeowners. However, if your deal is with some random person that you know - make sure you understand what's in it for them. ... more
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Thu Jul 24, 2008
Shel-lee Davis answered:

Here is my answer to another person who found themselves in the same situation as you appear to be in. Before you read it, is there a reason you are not considering options other than allowing your home to go through to auction? Please contact me directly (call or e-mail me through my profile). It would be wonderful if we can identify some help that could make the answer below immaterial. I have specialized in this area for many years and want to make sure your decision to let your home go to auction is based on all the available facts.

How long do you have to leave your home?
It really depends on the ultimate buyer. I have heard of people who were visited by the Marshalls and the new owners on the same day as the auction, and escorted out of the property. I have also heard of people who remained in the property 30 - 90 days after the foreclosure. And then there is the new, cash to walk offers being made by some lenders, if your home is ultimately returned to the bank at the auction, that might lighten the pain of eviction.

Of course, if you are tenant and not the owner, then local and state rent laws protect you. Proper eviction procedures must be undertaken to remove a tenant from the property (although there are some banks and new owners that appear to bully tenants into moving sooner than the law requires).

My recommendation, check with a lawyer who specializes in foreclosures and tenant rights and get an understanding of what your rights are under the law.

Hope you come through this process with minimal stress and damage, and Dare to Dream.

Shel-lee Davis
Real Estate Consultant
RE/MAX Palos Verdes Realty
... more
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