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95136 : Real Estate Advice

  • All49
  • Local Info2
  • Home Buying29
  • Home Selling5
  • Market Conditions0

Activity 1,728
Thu Oct 6, 2016
Gregorio Denny answered:
You should stay away from hard money lenders for financing your primary residence. Hard money can be useful for short term investment financing, but is a terrible idea as a substitute for standard qualification on the home you occupy.

You should also know that many hard money lenders that are lending on owner occupied properties are not licensed to do so. To lend on an owner occupied property there are strict regulations and most cannot or do not want to meet the scrutiny.

Have you had a qualified lender look at your credit profile to tell you what needs to be done to correct it? I would suggest you start there and forget about hard money; you won't find it with 20% down anyway.
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0 votes 13 answers Share Flag
Mon Aug 4, 2014
answered:
Extenuating circumstances is a one time economically devastating incidence.
Job loss is not considered extenuating.
Health issues not extenuating.
Extenuating circumstance is almost limited to death of a co-applicant on the mortgage causing a one time economic disaster and forced sale.
I have seen death of child, divorce and accidents all get declined as extenuating circumstance.
Lenders are standing firm on this.
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0 votes 13 answers Share Flag
Mon Jul 1, 2013
charles butterfield answered:
Thank you, Mary:

The address is undisclosed, therefore it is impossible to determine whether or not it is for rent.

The contact person does not have an active, valid Real Estate license.

The fact that the person that is advertising this property does not have an active, valid Real Estate License is a red flag.

Many scammers have been placing fake advertisements of property for rent that they do not own and do not have a written agreement with the owner of the property to rent that property.

The scammers then take your money for the deposit and prepaid rent and disappear with your money.

This is a particularly cruel hoax because you have lost your money for the deposit and prepaid rent and you now have no place to live.

I recommend before you deal with anyone or give them any money or information that you demand to see a copy of their Real Estate License first. Also, it is required that all Real Estate Agents put their DRE License number in their advertisements. If there is no DRE number in the advertisement, then the advertisement is probably a scam.

Thank you,
Charles Butterfield MBA
Real Estate Broker/REALTOR
American Realty
Cell Phone: (408)509-6218
Fax: (408)269-3597
Email Address: charlesbutterfieldbkr@yahoo.com
DRE#00901872
.
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0 votes 3 answers Share Flag
Mon Mar 18, 2013
Thomas Feng answered:
Hi Esark33,

One of the strategies that I use to help my buyers get into homes is writing offers with no appraisal contingency because this acts like a cash offer.

A reality that my buyers had to face just like you is buying a smaller house. Say they are pre approved to $600,000 this might actually mean that you can only afford a home on the market at $500,000 because the price eventually gets bid up.

Give me a call at (408) 840-3852 or Thomas.Feng@gmail.com to further discuss your situation and how to write a winning offer.
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0 votes 9 answers Share Flag
Wed Apr 3, 2013
Terri Vellios answered:
What was the Affidavit for? Is Wells Fargo the holder of the Seller's Mortgage? Do you have an agent representing you?

Your agent is your best resource as he/she is connected to the listing agent (unless the agent is a dual agent) and then the listing agent is connected to the negotiator.

The listing agent usually gives regular updates, such as a negotiation has been assigned, or if they needed to request the file to be escalated.

All the best to you. Short sales are anything but short. There are various factors which can affect the result, how many loans, who the loans are, the balance and type of loan, the hardship of the seller, is the seller in the process of filing bankruptcy, and so much more. Us agents here do not have access to the details of your file and therefore your agent is the best resource.
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0 votes 5 answers Share Flag
Mon Apr 1, 2013
Debra (Debbie) Rose answered:
Hey, you know - they sell vanilla ice cream and strawberry ice cream.....chocolate, too......so......what works for one person isn't right for the next person. We all have our preferences.

Clearly people are buying and selling homes in all areas, regardless of how the school districts are rated.

Want more house?
Buy in the town that gives you more........more concerned with schools? Buy less house in the higher ranked school district.

There is no right or wrong........decide what your priorities, needs and wants are, and follow that route.
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0 votes 16 answers Share Flag
Wed Apr 3, 2013
Nadim Aziz answered:
Hello Julie,

You need to ask the planning Department this questions. They are the ones who can properly guide you as to what you can or cannot do.
0 votes 7 answers Share Flag
Thu Jun 5, 2014
Ron Thomas answered:
Trulia;
You know very well that we are not allowed, BY LAW, to discuss commissions in an open forum:
Why do you do this to us?
0 votes 18 answers Share Flag
Sun Mar 17, 2013
Terri Vellios answered:
Send me an email with more specifics. List price, space rent, all age park or an age 55+ restricted park, etc...
0 votes 3 answers Share Flag
Tue Mar 12, 2013
Mitchell Pearce answered:
nickbonfante79:

If your rent is paid up, you have a right to stay till the end of the paid up period. But no, they cannot just change the locks and lock you out of your home. I expect someone from the bank will drop by to check on the property. At that pint you should get some official contact this person type of note telling you who to contact. Might be a good time to see if you can buy the property. Maybe we should meet to explore such options?

Mitchell Pearce
408-639-0211
mitchell@handsonrealtor.com
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0 votes 8 answers Share Flag
Thu Jan 30, 2014
Stu Carson answered:
Do you already have an agent? Or are you still deciding who you want to represent you?

There are 6000+ Realtors in Santa Clara County alone. As with any occupation, law, medicine, etc... all Realtors are not equal in experience, skills, training and effectiveness. Take the time to learn about a few Realtors and interview a couple. Hire the best. Why not?

resume http://stucarson.com/AboutTheTeam

references http://stucarson.com/testimonials

Stu Carson
408-209-0849
http://www.GetRealRealtor.com
http://www.JustMyProperties.com
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0 votes 6 answers Share Flag
Tue Mar 12, 2013
Terri Vellios answered:
There are about three less than than 4 star parks which sometimes make an exception. The reason is that you have a lease with the park in which you have to qualify. When you lease it out it becomes a sublease. The park doesn't want the added risk and liability of having to deal with a less than arms length tenant who has no claim to the real estate, nor lease with the park. ... more
0 votes 3 answers Share Flag
Fri Jan 17, 2014
charles butterfield answered:
Thank you for your question, Carol:

Yes, the advertisement that you have linked to is is a scam.

The advertised rent is less than half the fair market rent for this property. No legitimate property owner rents their property for less than half the fair market rent for that property.

Also, no legitimate property owner leaves the country without making prior arrangements with a licensed property manager to make certain that the property is properly maintained and rented.

The contact person listed in the advertisement does not have a valid, active California Real Estate License and is not the owner of the property.

Unfortunately a number of scammers have placed fake advertisements for properties for rent to collect the deposits and prepaid rent. The scammers then disappear with the deposit money and prepaid rent.

I have flagged the advertisement as suspected fraud.

I recommend that you also flag the advertisement as suspected fraud and report the advertisement to The Santa Clara County District Attorney's Office, The San Jose Police Department and The Federal Bureau of Investigation.
.
Thank you,
Charles Butterfield MBA
Real Estate Broker/REALTOR
American Realty
Cell Phone: (408)509-6218
Fax: (408)269-3597
Email Address: charlesbutterfieldbkr@yahoo.com
DRE#00901872
... more
0 votes 5 answers Share Flag
Mon Apr 1, 2013
answered:
Not all mortgages have a pre-payment penalty period attached to them.
You might want to refer back to the Note associated with your loan. If there is a pre-payment penaly is should included in the Note (or there should be a 1 page rider regarding that) ... more
0 votes 11 answers Share Flag
Mon Apr 1, 2013
Terri Vellios answered:
http://portal.hud.gov/hudportal/HUD?src=/states/california/renting/tenantrights

Here's a link which talks about tenant rights. Since we have Fair Housing Laws it only makes sense that a landlord would have to obey them. ... more
0 votes 4 answers Share Flag
Wed Mar 13, 2013
Tina Lam answered:
Having lived in this area for 15 years, I would bet on Morgan Hill. Prices there have more room to climb and Porter Lane is in one of the less desirable neighborhoods in San Jose. But, if you're looking to work in San Jose, there are other options available. ... more
0 votes 6 answers Share Flag
Tue Feb 26, 2013
Grace Hanamoto answered:
Good eye Dennis!

Yes, this one is also a scam rental and has been posted in many areas where local real estate is offered. Remember if it is too good to be true, it usually is not legitimate.

I've flagged this listing with Trulia.

Thanks,
Gace
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0 votes 4 answers Share Flag
Mon Feb 25, 2013
Sally Blaze answered:
Jose:
I would suggest you talk with your county or city to see if they offer "affordable housing programs" or Below Market Rate programs. For example, go to the Livermore city website (below) to see if they have any homes available for sale. Or check out communities close to where you want to live.

You should also talk with a lender to see what loan options might be available to you.


Sally Blaze
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0 votes 5 answers Share Flag
Thu Oct 31, 2013
Grace Hanamoto answered:
Nope, scam. Out of state manager and the home does not appear to be a rental. Run!! I have already reported this as a scam. Remember, anytime you see an out of state manager, 99 percent of the time, it is not a legitimate offer. ... more
0 votes 7 answers Share Flag
Wed Oct 9, 2013
charles butterfield answered:
Thank you Jennifer for your question:

There are no cheap places left that are not too far from the bay area.

There are some very nice places at relatively low price in Sacramento, Modesto and Fresno.

Prices are also lower in places like Tracy, Hollister and Gilroy, but I would not call them cheap.

Thank you,
Charles Butterfield MBA
Real Estate Broker/REALTOR
American Realty
Cell Phone: (408)509-6218
Fax: (408)269-3597
Email Address: charlesbutterfieldbkr@yahoo.com
DRE#00901872
.
... more
0 votes 13 answers Share Flag
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