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93012 : Real Estate Advice

  • All28
  • Local Info0
  • Home Buying17
  • Home Selling1
  • Market Conditions0

Activity 58
Thu Feb 4, 2010
Heidi Golff answered:
Hello Brenda,

17 Norma Ct is on the market for sale for $504,900 by a bonefide real estate brokerage company.

Many people confuse Realtytrac with those of us who are selling property. Realtytrac is nothing more than a "feed" of information telling people which properties are facing foreclosure.

If you want to purchase a home for yourself and your family, please call me if you are not already working with another realtor. I will set up an automatic email for you that will send homes directly to your inbox that fit your search criteria. The listings you will receive from me will be real, not "feeds of information". When you see something you like, call me and we'll tour the homes until we find the right one for you.

I am an excellent negotiator and won't stop working for you until we find you a property! You can search for homes at my website, too.
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0 votes 5 answers Share Flag
Fri Feb 12, 2010
Sally Stride answered:
According to the MLS 1348 Saturn is not on the market and the date of the last recorded sale was 11/17/05 for $736,000

If I can help you with anything else please give me a call at 805 443 3658

Sally Stride
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0 votes 3 answers Share Flag
Thu Oct 22, 2009
Annette Lawrence answered:
John, welcome to the wild, wild, west of real estate -Short Sales!
The bank, being expected to write-off or forgive, a significant deficiency expects to best offer to be presented to them. Failure to do so can be considered bank fraud. I am not an attorney, but the Florida real estate attorneys I consult advise to be alert for these situations. The new home owner is exposed to liability and a possible clouded title after the fact.
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Be alert also for homes for which the owner is unidentified or historic records are incomplete. In Florida this is a common tatic many 'speculators' use.
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As the buyer you have very little authority to influence the outcome of a short sale. Please consult a real estatate attorney in CA for the real scoop there. In Florida, the listing agent presents all offers to the home owner. The home owner decides which offer will be submitted to the bank, not the listing agent. On some occaisions, without knowledge of the listing agent, the owner has contacted the potential buyer to create a side cash deal! Short Sales....the potential for trouble is present, make sure you are well represented.
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0 votes 7 answers Share Flag
Thu Nov 5, 2009
Barry Shapiro answered:
Hello Joey,

The observation you make is accurate. I assume the SFR house is not a personal residence or second/vacation home. The investment property can be exchanged for a "like-kind" property, including commercial property, industrial, shopping center, vacant land, multi-family residential, etc. There is a plethora of additional reasons why one might consider an IRS Tax-deferred exchange: Increase cash flow, Eliminate property management headaches, Defer capital gains, Reduce liability and exposure to lawsuits, Geographic diversification and Participate in renewed depreciation potential.

As with residential, due-diligence is paramount to success... There a several opportunities available locally for commercial investment. I would be happy to sit down with you and my commercial-licensed team member to explore these alternatives. Good luck in solving your investment property challenges!
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0 votes 2 answers Share Flag
Wed Feb 3, 2010
Wallace Hagstrom answered:
In order for you to legally be paid a real estate commission you must be licensed by the Ca. Dept. of Real Estate. A different way to accomplish the same goal would be to negotiate a lower price consistent with the amount of the commission which would have been paid. HOWEVER - pursuing this course of action is VERY RISKY! There are many GOOD REASONS sellers and buyers employ the services of an experienced licensed agent. They are well worth the fee, generally paid by the seller, and if you employ a Buyer's Agent he/she will know precisely how to protect your interests as the buyer. "Going it alone" is far too risky in my professional opinion. ... more
0 votes 17 answers Share Flag
Thu Nov 5, 2009
Barry Shapiro answered:
Hi Curious,

As a fellow investor, owning several investment properties, I can attest that the current rental market for Camarillo is not favorable for landlords. Several reasons contribute to this claim:
1) More and more homeowners are losing their homes via a short sale or foreclosure, and most landlords are basing their tenants qualifications more on CREDIT, than qualifications/ability to pay the rent. So, a lot of would-be tenants are being forced to find alternative housing.
2) More and more owner-occupied sellers have been watching their equity diminish, and are now deciding to rent out their properties for the first time, instead of selling for less than some arbitrary "loss" (when compared with '05 prices). This has flooded the market with more homes than usual.
3) Depending on the type of rental, job losses at a local level has contributed to many tenants downsizing to be certain they can afford to keep a roof over their heads.
4) The new naval housing off of Las Posas at the west end of Camarillo, once completed, may cause a plethora of otherwise "temporary" housing rental units to become vacant as employees avd their families relocate to newer, nicer housing.
5) Bacause the local housing market is on fire once again (with very few Active homes for sale under $400K), many rental properties are coming back on the market, as the tenant becomes homeowner.

Here's a link to the 49 ACTIVE rentals on the MLS:
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0 votes 2 answers Share Flag
Wed Mar 18, 2009
Barry Shapiro answered:
Hello Alvin,

There were 13 SOLDs during the time frame you specified (see link below). I specialize in Camarillo Real Estate. Here's a Market Snapshot of Homes similar to yours:


http://www.marketsnapshot.info/MSReport/RTMSMain.aspx?cnsmr=1&ReportId=50df92f2-0bf7-4d02-a9c2-b5f09c281f2f&instanceId=6a27f22a-4c84-4532-ac2c-55b09f3910bd#
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0 votes 1 answer Share Flag
Mon Sep 20, 2010
Steven Ornellas answered:
Fidelity National Title
760 Paseo Camarillo Ste 101
Camarillo, CA 93010-6002
(805) 482-8876
0 votes 2 answers Share Flag
Sat Jan 31, 2009
P answered:
They will give you a Title of some sorts to the property because they have to make sure it is clear, But I would do one anyway for your open benefit so if omething does come up oyu can go after the title company. ... more
0 votes 4 answers Share Flag
Tue Feb 10, 2009
Barry Shapiro answered:
Hello Lotus,

I reviewed the information on the MLS pertaining to this property. I believe, from the information I read, that the Owners may be in the process of modifying their loan OR they may actually still be awaiting lender approval of the short sale. The property has NOT reverted back to the Lender (World Savings on the 1st and 2nd Liens). Agent Remarks said "Show cold with confidence. PLEASE DON'T LET THE CATS OUT. Short Sale: Price and terms subject to Lender approval". I will call tomorrow to see if I can find out more details. In the interim, here's the LAST MLS detail report:

http://vcrdsmls.rapmls.com/scripts/mgrqispi.dll?APPNAME=vcrdsmls&PRGNAME=MLSLogin&ARGUMENT=18cRMScPWiLcUv49X9OyySNvd4PWcpMRaW4DNTuljCo%3D&KeyRid=1&Include_Search_Criteria=

And, here's a link to ALL the listings (from '06):
http://vcrdsmls.rapmls.com/scripts/mgrqispi.dll?APPNAME=vcrdsmls&PRGNAME=MLSLogin&ARGUMENT=18cRMScPWiLcUv49X9OyyZS82%2FmYHl31rP1HYrsvmZM%3D&KeyRid=1&Include_Search_Criteria=on


Also, here's a current Market Snapshot for similar homes near the Mission Delmonte tract in Mission Oaks:
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0 votes 2 answers Share Flag
Sat Jan 31, 2009
Dallas Texas answered:
Unconfirmed of your question. Do you own the home? If yes, then lender not willing to work a deal refinance or have a foreclosure payment outside of your monthly budget you wont have a choice however do you have equity, could consider a short sale, or attempt to sale the house therefore it does not impact your credit score.

IF you located a home purchase there is drama involved there are other homes listed on the market have your buyers agent continue to work with you locating another property.

http://www.lynn911.com http://www.homes-for-sale-dallas.com
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0 votes 6 answers Share Flag
Sat May 30, 2009
Michael Barron answered:
Hi there Franci, I think you are a litl on the high side, More like $ 7-$ 9k usually Of course if you work with a stong Realtor they may be able to convince the seller to pay the closing costs which would save you this expense.

If you are interested in examining this further drop me a line.

Kind Regards
Michael Barron
Realtor/MBA
First Team Real Estate
michael-barron@sbcglobal.net
(714) 552-6817
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0 votes 9 answers Share Flag
Thu Oct 2, 2008
Barry Shapiro answered:
Hi Franci,

As a local resident, homeowner and investor here in Camarillo, I can understand why you may have concerns about finding a renter for your investment property. Find listed below a link to seven (7) Camarillo 3 bedroom rentals in the $1700-2200 price range:

http://vcrdsmls.rapmls.com/scripts/mgrqispi.dll?APPNAME=vcrdsmls&PRGNAME=MLSLogin&ARGUMENT=ZYBXixnZWBCMZ6m7e6Bi6QW4nbpErDHnzyPQ%2Fn%2BuNmE%3D&KeyRid=1&Include_Search_Criteria=on

The rental market for decent properties in the lower $2,000/mo. range is pretty strong right now. There have been 35 investment properties RENTED out in the past 6 months. Here's the link to those (rented)properties:

http://vcrdsmls.rapmls.com/scripts/mgrqispi.dll?APPNAME=vcrdsmls&PRGNAME=MLSLogin&ARGUMENT=ZYBXixnZWBCMZ6m7e6Bi6QoIZyA3r8mvmlzseo69v5o%3D&KeyRid=1&Include_Search_Criteria=on

I will be happy to meet with you locally and discuss all the pitfalls (tenants, toilets, taxes, termites, etc.) of an investment property, along with the advantages (tax deferral, leveraged equity, retirement savings). Although right now may not be the ideal time to invest, it's a good idea to get your duckes in a row to be ready when the opportunity comes along. I specialize in the Camarillo, CA market. Good luck!
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0 votes 8 answers Share Flag
Fri Jul 18, 2008
Joanne Fraser answered:
When the second lien holder forecloses he must keep the 1st current otherwise the first can foreclose and the second is out of luck.
0 votes 3 answers Share Flag
Sat Apr 24, 2010
Barry Shapiro answered:
The first position mortgage lien holder will trump a foreclosure by a subordinate 2nd or 3rd lien-holder. However, in the event the first mortgage is for substantially less than the value of the property, the new second holder can pay off the first, in order to salvage their equity. Sometimes, a first will even allow the second to negotiate the payoff, since the cost of a foreclosure may run more for the 1st lien-holder, than simply accepting less than the entire amount owed. Find foreclosure help online by visiting our website. ... more
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Wed Jul 2, 2008
Emily S. Knell answered:
Pre-Foreclosure means that the owner is behind in their mortgage payments, maybe they've already received a Notice of Default (which usually means they're at least 3-4mos behind)

The home is heading Towards a total foreclosure, but isn't quite there yet. The owner CAN (with the help of a Realtor) do a SHORT SALE, in which the Realtor negotiates with the bank to have them Accept LESS than what was originally owed.

The only thing SHORT about this sale is the amount the bank is making back on their original investment. To buy a Short Sale & close escrow can take as much as 90 days. If you're considering buying a Pre-Foreclosure property it is IMPERATIVE that you are working with an agent who is EXPERIENCED in doing Short Sales. It's a very difficult process & most agents DO NOT WANT to handle these sales because it requires Much more work & they get paid less!
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0 votes 7 answers Share Flag
Mon Nov 29, 2010
Barry Shapiro answered:
You can access the MLS (Multiple Listing Service) FREE to see ALL RENTALS in Camarillo by going to my website: www.FindCamarilloHomes.com. The direct link to rentals is: http://www.findcamarillohomes.com/ourteam.aspx ... more
0 votes 7 answers Share Flag
Thu Dec 29, 2011
Infinity Realty Network answered:
Sometimes there are areas, where Trulia might not a have local agent in your community to answer correctly. I always suggest calling some local realtors and asking them to help you out. You would be amazed how talkative, and informative they can be.

Good Luck
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