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94262 : Real Estate Advice

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Activity 1,136
Fri Oct 19, 2012
Steven Ornellas answered:
Hi Shiva_victoria437,

Take 80 to 680: See link below from Google Maps:

0 votes 2 answers Share Flag
Fri Oct 19, 2012
Nancy Bergman answered:
Okay, for someone who has kids and loves Halloween, I need to answer this one. Yes, we already have the decorations up at my house!
First, if you have kids, ask them! They will know the best streets for giving out candy. We go in my neighborhood because there are three streets lined with decorations and its like kids from other areas come.
Also, the parks are doing activities. Depending where you are, I just saw a sign that something is going on at Arden Park, Howe Park, etc. Check with your parks and rec district.
In addition, some of the malls have safe trick or treating.
If you have small kids and don't want them to be too freaked out, I also suggest Boo at the Zoo. My kids love it. Check the zoo's website for pricing and hours.
Stay safe and Happy Halloween!

Nancy S Bergman
Realtor - Lyon Short Sale Certified
DRE # 01893550
Lyon RE Downtown
2801 J Street
Sacramento, CA 95816
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0 votes 3 answers Share Flag
Sat Nov 3, 2012
Loan programs come in 2 basic flavors, government backed (VA, FHA or USDA) and conventional.

For government programs, the rates are rather static.....essentially, all who qualify get the same rate! The only exception: borrower's with credit scores below 640

This isn't true for conventional loans, higher fico scores = lower rates.

Anyone with a fico score above 740 will be entitled to the best rates, and fico scores below 620 (and who don't have 20% down) won't get a loan, period...

Having said all this, and in considering your questions, I'm going to counter with a question of my own: how important is a low interest rate if your loan doesn't fund?

Reviewing a borrower's credit, income and assets only accounts for roughly have the analysis a loan officer performs when qualifying a borrower, the other half is related to the subject property (home condition, type, taxes, liens) and the type of sale (short sale, REO, flipped property, estate sale).

A knowledgeable, seasoned loan officer will thoroughly analyze all aspects of a transaction, much the same way a good doctor fully interviews their patients before rendering advice. If a loan officer fails to gather certain pieces of information, the home sale can fall apart the same way a patient may not survive a procedure when the doctor didn't collect enough information.

If comparing doctors by who charges the least for their services doesn't make sense, then why would someone use this approach when comparing loan officers? The fate of your home purchase is worthy of finding the most qualified loan officer you can, not necessarily the least expensive. Ask for referrals from realtors, CPAs, financial advisors and close friends, especially those who've just completed a home purchase!

And if you'd like me to review your personal situation, let me know!

Good luck and best regards, Jeff Marr
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0 votes 1 answer Share Flag
Mon Oct 15, 2012
Patrick O'Hare answered:
4650 Natomas Blvd in Natomas should be your closest store.
0 votes 1 answer Share Flag
Mon Apr 25, 2016
Marie Souza Team answered:
You should do what your clients want, but we know that sometimes there can be "too many cooks in the kitchen" and that can muddy the water.
0 votes 17 answers Share Flag
Sun Dec 1, 2013
Sue Archer Reynolds answered:
The short sale is approved because of a hardship, no matter what the reason is. The restriction on when you can qualify for a new loan is based on the act of doing a short sale and again, not determined by the type of short sale.

Sorry to say, it's still 3 years under most circumstances to obtain an FHA backed loan. 2 years for a VA loan. A hard money loan or one from a small portfolion based lender may take less.
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0 votes 9 answers Share Flag
Fri Oct 12, 2012
Jim Walker answered:
The dream client has the skill to listen, (sort of like the dream salesperson). They know that they need to do research and due diligence on a property they offer on and get into contract on. They know to ask questions when they don't have the answer themselves. They know that neither the listing agent nor the selling agent determine market value. The actions of sellers and buyers in the marketplace determine value. They read the voluminous disclosures that we provide them. They know that no home in their price range is 100% perfect, and they know that buying a quality home for pennies on the dollar exists only on fraudulent late night infomercials. ... more
0 votes 1 answer Share Flag
Mon Mar 4, 2013
Patrick O'Hare answered:
Renate, no property was indicated in your question.
If you are looking at a genuine rental property, there
will be a link to the landlord/property manager on
the ad page. You are better off clicking that link for
questions on status as you will be dealing with the
party who is renting the property.
Make sure you have double checked your ability to
buy as in today's market you can frequently buy
at a comparable cost.
Good luck to you
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0 votes 2 answers Share Flag
Sat Oct 13, 2012
Patrick O'Hare answered:
I have to start w/the fact that I am not a fan of lease to own transactions.
Very few wind up with a successful transaction or happy parties. But that aside:
First thing is managers have nothing to do with the transaction, your contract is
the binding agreement between yourself and the seller, so hopefully your
understanding of the deal is what the contract says. Otherwise you have a problem.
If there is a dispute between your self and the seller over what the terms of the
agreement is I would suggest you sit down with a real estate attorney to get a
professional opinion.
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0 votes 6 answers Share Flag
Fri Oct 12, 2012
Jim Walker answered:
Your Trulia Trends link did not have the statistics for the Sacramento metro, so I will have to take your word for it.
Production builders are still putting up new houses in Roseville, Rocklin, Folsom and El Dorado Hills. In the city center it is more common to see rehabbers working on the existing housing stock rather than creating a lot of new homes.

Getting urban growth to have a strong comeback is as simple and easy as bringing the API scores of city schools up a couple of hundred points and keeping them high for a few years. I predict that will happen the same year that the national debt is fully paid off, the crime rate falls to zero everywhere, and every country in the world is at peace with all of its neighbors and within their own borders.
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0 votes 2 answers Share Flag
Wed Oct 10, 2012
Sue Archer Reynolds answered:
I thought that was always the case, but a lender will respond here more accurately.

I do know that the IRS is much more active in doing 'offers in compromise' to help people reconcile on back taxes, penalties and interest charges. If you want help with that, call Ed Cook. He's a CPA and has been very successful at doing offers in compromise for clients. He can be reached at (916) 705-4958. ... more
0 votes 2 answers Share Flag
Sun Mar 2, 2014
Kylee Roe answered:
Hi Linda,
Are you referring to homes situated in a HOA there, condos or apartments? If you're referring to a home or condo, it's up to the HOA rules, wherever the HOA may apply. However most HOA's do allow dogs. Some limits on size are sometimes part of the rules. ... more
0 votes 3 answers Share Flag
Sun Oct 14, 2012
Patrick O'Hare answered:
In today's market $81,000 is tough to find; hard to guess where we will be next year.
If we do not see an increase in our inventory prices are rising and will probably
continue to do so. ... more
0 votes 10 answers Share Flag
Tue Jul 23, 2013
Annette Lawrence answered:
Be aware Truila DOES NOT GET DATA FROM THE MLS. In their own words here's the scoop:
"Trulia receives this listing from ListHub, a third party listing provider. As part of Trulia's syndication agreement with ListHub, Trulia has agreed to limit data edits on core fields (e.g. price and status) specified by ListHub.
Data integrity is all about....hmmmm,,,,there is none! The data is folded, spindled, stapled and mutilated as they see fit. One would be well advised to understand, the business objective is to sell advertising to real estate agents, mortgage brokers, and insurance providers. Often that involves the ability to restore the original content.
Your mission, should you choose to accept it, is to advise/inform/guide citizens to realize aggregate websites like Zillow and Trulia are for entertainment purposes, not for serious buyers or sellers seeking actionable data. Those who are uninformed willl pursue the illusion of homes for sale and the vapors of homes sold long ago.
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0 votes 10 answers Share Flag
Tue Oct 30, 2012
Patrick O'Hare answered:
Best advise is to sit down with an attorney to review your situation. The answer to
your question will be inflluenced by whether your Michigan loan was a recourse loan
or not. If it was non-recourse then by definition the lender has no recourse beyond the
property. A consultation with a real estate attorney will be pretty inexpensive sleep insurance.
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0 votes 2 answers Share Flag
Thu Oct 4, 2012
Centermac Realty answered:
Typically it takes about 4 to 6 months to go through the short sale approval process, longer if a second lender is involved. You will submit the purchase contract along with short sale documentation including your hardship letter, financials, lender's application forms. Generally it then goes into 3 stages. Usually the servicer will screen the application for preapproval, then the bank will order a bpo and it goes to the underwriter, then negotiation on the price, and finally investors approve it. ... more
0 votes 8 answers Share Flag
Sun Oct 7, 2012
Shivani Yadav answered:
Hi Stephen,

Congrats on getting into contract! But this is just the first stage. Now that your offer has been accepted by the seller, listing agent would be submitting it to the short sale lender along with the complete short sale package.

Short sale lender will due their due diligence ...get an appraisal and a BPO done and decide if they want to accept your offer the way it is, reject it or counter it...

You would have the same choices once you get short sale lender's counter...accept it, reject it or counter..

Once you and the short sale lender have come to terms on the purchase price..your transaction moves forward to the point where your loan agent will order the appraisal. I

If the appraisal come now got instant equity in the house and you don't have to do anything... be happy!! they can't tell you to increase the purchase price :-)

But if the appraisal comes in lower than the purchase price and I hope you have appraisal contingency in place... you can negotiate with the short sale lender to reduce the price, pick up the difference yourself or cancel the contract ...get your deposit out.

Hope this help!

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0 votes 9 answers Share Flag
Wed Feb 12, 2014
Mark Waterman answered:
You have a few good options. It all depends on what you consider SAFE!
Natomas offers a few newer Communities with reasonable prices but you could also get a nice unit in Folsom and Roseville. If you are serious, contact an agent and they can show you all the available units in safe areas.
I can help you as well!
Mark Waterman
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0 votes 6 answers Share Flag
Sun Dec 23, 2012
Kylee Roe answered:
Well, you only need 3.5 % down to use an FHA loan. You should check with a lender, see what you qualify for. A great lender will have a few different options for you, if you can qualify for a loan, they will know. You are correct that $150,000 is a good purchase price. You should be able to get a decent home in various areas with that much budget.

Only way to find out what your loan scenario looks like is to talk to a lender. Try Evelyne Jamet at Vitek. She has been a miracle worker for many of my clients.

Call her at 916-452-8800

Good luck!
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0 votes 9 answers Share Flag
Sat Sep 29, 2012
Michael Cheng answered:
I've got an investment property in Elk Grove also. As for advice, it's basically the same for all single family investment properties.

Make sure you do a thorough inspection and verify that you'll get your required returns from the rent. Many of the new homes in the area were built by large home builders with lower quality production methods. Look for major cracks and leaks. ... more
0 votes 10 answers Share Flag
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