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94523 : Real Estate Advice

  • All30
  • Local Info6
  • Home Buying12
  • Home Selling5
  • Market Conditions0

Activity 36
Mon Dec 17, 2012
Connie Trincali answered:
Hi Claire, There could be a variety of variables with this increase. As Realtors we are sometimes at the mercy of the Owners attitudes. The increase could be the Owner just wanted to go up on his property due to the profit he is looking for at closing...OR the Owner could have had a Appraisal completed on the property and decided to bring the property up to the Appraisal he might have received OR the Agent that listed the property decided other properties in the area had sold for more than what he judged this property to be worth so he talked with his Owner and made the decision, with the Owners consent to increase the price of the property. In my area we are finding that values are starting to go up. Agents try their best to get the best value for their Buyers and Sellers and sometimes that means price adjustments. Sheryl Jones, Melbourne, Florida ... more
0 votes 4 answers Share Flag
Mon Nov 11, 2013
The Medford Team answered:
To be honest, I’ve never heard of anyone being successful in getting a telephone pole removed. The pole in front of the house appears to be a primary service pole for electrical to the homes at the end of the court, it’s the street lamp AND also looks like it is providing phone and cable service as well. My guess is that it will not be possible to move it.

Contact the city’s building department and ask them if there are any options – here is their website:

Since the home is pending, I’m assuming you are buying the house and want to know what your options are for the pole?
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0 votes 4 answers Share Flag
Sun Dec 16, 2012
Tim Moore answered:
Pre foreclosure is also called a short sale. There is really no such thing as a foreclosure because that is a process to covert ownership from a defaulting owner to another party. Once it occurs there is a new owner and it is often the lender or bank that made the loan. Then it is called a bank owned home assuming the bank bought it. Yes, a VA loan can be used to buy a short sale or a bank owned home. Speak to a lender to find out more. ... more
0 votes 8 answers Share Flag
Sat Nov 24, 2012
Michelle Saputo answered:

This may help you? I'm not exactly sure what your question is...I'm here to help if you need anything.
0 votes 3 answers Share Flag
Sun Jul 15, 2012
Tina Lam answered:
Work is usually a great place to start. You know how they are and you can even share rides. Or, try meetup events.
0 votes 3 answers Share Flag
Sun Jul 15, 2012
Michael Cheng answered:
What site? Trulia? Since Trulia is neither a bulletin board nor a social network, I suspect your chances are low. Why don't you try craigslist?
0 votes 3 answers Share Flag
Sun Dec 16, 2012
Suzanne MacDowell answered:
Depends on what you are using it for. If you want to see foreclosure listings for the purpose of purchasing property you are much better off finding a realtor to work with. Most of the listings on Realty Trac are not for sale. They merely list homes that are in the foreclosure process. ... more
0 votes 6 answers Share Flag
Tue May 15, 2012
Pacita Dimacali answered:
Not everybody does this for the precise reason you want to back out if there is no limit as to what the highest offer is, and it turns out to be more than what you can afford.

Not everybody does it because if you do state the maximum you can afford or would like to pay your price, by stating this in your addendum --- "or $3000 over highest offer with a cap of $___" then you've basically already told them what your best and highest offer is.

So why didn't you offer that in the first place?

And what would stop the seller from countering you at that price?
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0 votes 6 answers Share Flag
Fri Jan 6, 2012
KC Carpoff answered:
Cheryl, Send me the address so I may give you a more detailed answer.
Ken -
0 votes 2 answers Share Flag
Fri Jan 6, 2012
KC Carpoff answered:
Actually, almost all homes are approved for FHA financing unless its a condo project with less than 51% owner occuppied. FHA has a 203K program that allows you to finance needed repairs to bring it up to standard for FHA after close. I would have to see the home to determine if there would be a problem going regular FHA. You can visit my website below to set up a home search and i can guide you to which homes would be the best ones to buy FHA. ken ... more
0 votes 4 answers Share Flag
Mon Jul 21, 2014
Cynthia Kraemer answered:
It's a good idea to get your agent's opinion on who she would recommend in the new area you are looking. She can work with an agent there to oversee the transaction and they can work together to help you in your search. She can get a referral fee from that agent too and still benefit by your new purchase, but more importantly she will have some input to the agent and find someone she feels will work well with you. ... more
0 votes 14 answers Share Flag
Tue Nov 22, 2011
Ron Thomas answered:
Your wording of the question give me great cause for pause:

First of all, there are actually three principles invoved in a Shortsale; the Buyer, the Seller (Homeowner) and the Bank (the actual Seller).

Secondly, you refer to the "Approval Date"; which to my mind is the date that you specified for the Bank to get back to you on your Offer.

Thirdly, you say "is the contract automatically cancelled" acknowledging that you have a CONTRACT.

I can only guess at what is happening here:
You made an offer, the Sellers approved it, and it was forwarded to the Bank. The Bank has not responded and you believe that the Seller's approval created a Contract for you.

My main reason for believing this, is that if you really had a CONTRACT with the Bank, the Bank would not be ignoring you.

I am further guessing that the Bank could still get back to you with an answer.

Have you, or your Agent, contacted the Listing Agent for his interpretation?

Good luck and may God bless
... more
0 votes 16 answers Share Flag
Wed Oct 4, 2017
Don Tepper answered:
No. You can't buy a home with credit scores of around 560. (Oh, I'm sure someone--probably a mortgage broker here--will say they can help. But, no, you really need scores above 600 to buy conventionally.)

Look, if you want to throw your money away, just put it in an envelope and send it to me. You won't get anything in return. But this whole "renting is just throwing your money away" is a line used by some real estate agents to inject a false sense of urgency into buying.

You're not throwing your money away by renting. You're getting something very valuable in return: A place to live.

OK. The argument is that all you have at the end of the year are rent receipts. You have no equity. That's true. So you want to buy. Let's say you find a place for $200,000. You qualify for an FHA mortgage at 3.5% down. You get the seller to pay all closing costs. Sweet, right? So you're now out of pocket for your $7,000 down payment. Considering that the costs to sell are roughly 10% of the value of the property, if you tried to sell right away, you're at least 6% underwater. You'd have to bring at least $12,000 to closing.

But let's fast-forward a year. What's happened to real estate prices? If they're down, you're even in a deeper hole. A drop of 5% means you've lost $10,000. If prices stay flat, you're still $12,000 upside down. If they've gone up 5%, you're STILL upside down.

Meanwhile, compare the costs of ownership versus renting. In some parts of the country, it's cheaper to own than to rent. But in most areas, it's cheaper to rent than to own. Work the numbers where you are.

Then there's the issue of mobility. If you rent, you can move without penalty when your lease is up. So every year, you can decide whether or not to move or to stay. It's not so easy if you own.

If you have the "dream of home ownership," then it's OK to pursue it. But don't confuse dreams with reality. The reality is that you're not throwing money away on rent.

Hope that helps.
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0 votes 30 answers Share Flag
Sun Oct 30, 2011
Vickie Nagy answered:

There is no title insurance and the property may have liens that cloud the title. Recommend that you proceed with caution and seek information on existing liens, HOA, Tax, etc.

Kindes Regards,
Vickie Nagy, broker Associate, BMC Real Estate
... more
0 votes 4 answers Share Flag
Fri Nov 18, 2011
Catherine Myers answered:
The sellers and their agent should have excluded that from the contract right up front. Sometimes in short sales people do rely on the "subject to lender approval" for other seller paid items and expenses, but the refrigerator is something the lender would not have had input on.

You realtor should work with their realtor to be sure the contract is adhered to. Worst case, small claims would probably be your only other recourse. It may be the realtor just needs to educate the seller on what the contract said and what their obligations are.

As an aside, many short sellers do exclude appliances, some opt to take them, some opt to sell them separately.
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0 votes 10 answers Share Flag
Mon Sep 19, 2011
Scott Godzyk answered:
Hopfully your purchase is contingent upon a home inspection, the inspector will easily be able to tell you if this is a settling crack or something structural. They should be able to tell you if it is normal or a redflag to something worse. They should be able to estimate a cost to fix as well. Good luck with your inspection and purchase ... more
0 votes 10 answers Share Flag
Mon Mar 7, 2011
Dan Tabit answered:
I can't say for certain, but it is reasonable to ask the question. If the agent is a Broker, with a trust account it may make sense. If they are not, the funds should be made out to either the owner or licensed property manager.
If you have doubts, check to ensure the person you are working with is a licensed agent. If they are, ask for an explanation. If that sounds fishy look up the responsible broker for the office the agent is working out of and clear this with them.
I can imagine scenarios where it may be okay, but I can also imagine more where it's not.
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0 votes 2 answers Share Flag
Sun Mar 6, 2011
Tony McMahon answered:
Not sure what the law says in CA, but in Md all monies go to the Broker first and than the Broker compensates the agent.
0 votes 1 answer Share Flag
Wed Mar 2, 2016
Ruben Pizarro answered:
Call me at 863-409-1734, give me details and i'm part of a relocation service program, I can check realtor stats and someone who can help you by experience and knowledge.
0 votes 4 answers Share Flag
Tue Oct 14, 2014
Bernard Gibbons answered:
I would always recommend a home inspection for any home, regardless of when it was built. New homes frequently have defects that can be identified by a good home inspectore. Have a home inspection for your own protection and peace of mind.

Bernard Gibbons

Bernard Gibbons, J. Rockcliff Realtors
DRE License # 01331583
Phone (925) 997-1585 -
... more
0 votes 11 answers Share Flag
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