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95825 : Real Estate Advice

  • All22
  • Local Info8
  • Home Buying5
  • Home Selling0
  • Market Conditions0

Activity 1,136
Tue Dec 25, 2012
Patrick O'Hare answered:
You are correct, the square footage has been is apprx 2200 sqft.
This property also does have an accepted offer as of Nov 23. It also is a short
sale. If you are looking to make a purchase at this time, you really should select
a qualified real estate agent to assist you. Trulia and Zillow both have issues with
being able to provide accurate and timely data and in order to be successful in the
current market, you have to be on top of new listings as they are going quickly.
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0 votes 3 answers Share Flag
Fri Dec 1, 2017
Marge Bennett answered:
It's sale price or appraised value, whichever is lower
0 votes 11 answers Share Flag
Tue Dec 25, 2012
Ron Thomas answered:
What Homeowner Association?
What Home?
Why not have your Realtor do this research for you?
0 votes 5 answers Share Flag
Thu Dec 20, 2012
Marlowmerrick answered:
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Wed Dec 19, 2012
Ron Thomas answered:
Somewhere between $50 and $800;
We have no idea what house you are talking about.
0 votes 3 answers Share Flag
Mon Dec 17, 2012
Joseph Drew answered:
Are you trying to ask if the seller, presumable you for the purpose of this question, should disclose the way a home was initially purchased? If that is the real question, then you should disclose how the property was purchased and that a 90 day flip rule may apply. That might save a few headaches in the future. ... more
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Sat Dec 15, 2012
Bruce Slaton answered:
Well you may be late to party a bit as the field for REO has right sized. Many of the REO servicers are pulling back their network to work the assets they have so many are not actively adding agents.

That being said, 1st I would see if there is an NRBA member close to you that might be able to mentor you or create a partnership, the database of NRBA Brokers is located at Training wise, Five Star has some great training as well as AREAA and NAHREP is in your area.

Joining AREAA and NAHREP is a good start as well, the govt and banks have a focus on diversity and supporting and being a member of some of these groups are on the sign up forms in most cases.

REO has moved from the banks in lots of cases to Hedge Funds, these hedge funds require you sometimes to do lots of work free in hopes they acquire the pools of loans and assets they are bidding on, know their processes and procedures. Have an REO management system, my recommendation is RIO Genesis. Be well versed in BPOs as the coming market will require lots of valuations for the assets the Hedge Funds acquired. Check into BPO Assistant which is an add on for RIO Genesis.

Now the caution, the market is moving in most areas from REO to short sales, depending on your area, being well versed in short sales can be the success you are looking for. Also most Hedge Funds will want you to handle a wide variety of assets ie property management, sales, loss mitigation/short sales, so try not to limit your ability to service their assets without them going to someone else who will.

Last but not least, be very careful of the "pay for our system and we'll get you into REO", many of the companies they say they can get you into no longer service the clients they say they do. This is the time people are making money off of innocent agents thinking they can get into REO, most of it is a bluff and not worth the money.

As a Broker, know your insurance needs which is usually 1M for E&O and 2M for Liability depending on the company.

Also subscribe to and for keeping up to date in the loss mitigation fields, they are reputable news feeds.

Best of luck

Bruce Slaton
Realty World eCurb REALTORS
Sacramento, CA
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0 votes 1 answer Share Flag
Mon Dec 17, 2012
Ed Favinger answered:

I don't know the details of your condo but selling would probably happen pretty quickly and if priced right should rent up fast as well.. This is a slow time for folks moving though.

Also why do you want to sell... and why would you consider renting it out..?

You'll get a lot of attention on this request. Either way let us know which way you decide to go...let us now what you decided to do...

I hope this helps...

Make it a great day...
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0 votes 11 answers Share Flag
Sun Feb 2, 2014
Jim Walker answered:
Jennifer Lin at 1st American Realty speaks several Chinese dialects.
0 votes 5 answers Share Flag
Sun Dec 23, 2012
Jamie Collins answered:
Sell it about 4 years ago. and rent until about 8 months ago.
0 votes 4 answers Share Flag
Tue Dec 18, 2012
Sue Archer Reynolds answered:
That's personalized to what you need to protect. The lender will require standard Property and liability insurance for the home. You might also consider other insurance if you have alot of valuables. I often suggest that my clients consider getting their home insurance where the have their car insurance for the multi policy discount it provides. If you want great education on insurance, call Vickie Rosalli at State Farm insurange at 916 966-7111.

it's always a good idea to understand what types of insurance you need and how much. Otherwise you might be spending money on insurance that isn't even relevant, and not on areas that you need. Umbrella policies, riders...there's alot to understand. Call Vickie.
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Thu Mar 21, 2013
Robin Smith answered:
What service do you offer?
0 votes 4 answers Share Flag
Tue Dec 11, 2012
Kylee Roe answered:
There are many great rental areas in Sacramento. There are many areas that are getting multiple offers on listings as well, so I would suggest you try and stay away from those areas--especially Elk Grove.
What are your goals for this rental, cash flow, equity building while your tenant pays rent, condos are cheaper priced, but have HOA fees that cost money--do you have a monthly income goal from your property?
95821,95822, 95831, 95610, 95827,95826,95825 to name a few zip codes, are all good areas.
Good luck!
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Thu Oct 17, 2013
For Chapter 7 bankruptcies:

• FHA requires 2-years BK discharge (only 1 year if it was due to extenuating circumstances, such as medical or death of a wage earner, etc.)
• VA requires 2-years BK discharge
• USDA requires 3-years BK discharge (only 1 year for extenuating circumstances)
• Fannie Mae & Freddie Mac require 4 years (only 2 years for extenuating circumstances)

In all situations you need at least 12 months of re-established credit and 3 traditional trade lines, some lenders want 3 trade lines of 12 months each. Trade lines that survived a BK, such as a credit card you kept open, a car loan you maintained payments on/didn't include, student loans that you are making payments on that couldn't be included, etc. can count towards the re-established credit.

Other than medical collections that can be properly explained, if there are any late payments or delinquent accounts (collections, charge-offs, judgments, tax liens) after the BK or foreclosure then the time seasoning often starts over again from the latest late payment/delinquent mark (underwriter's discretion). Having a verifiable on time housing payment history goes a long way to making an underwriter feel comfortable, as well as taking a pre-purchase housing counseling class with a budgeting/financial model. Practically anything you can do to prove that you have made & kept a vow to make all payments on time will be helpful.

You could expect the same interest rates as someone who never had a bankruptcy, as there are no rate increases for someone who had a bankruptcy vs. someone who didn't.

First time homebuyer assistance programs require that you have not owned a home in the prior 3 years from when you obtain the assistance, and the fact that you had a prior bankruptcy wouldn't impact your ability to qualify for them.

Shane Milne | Lending in all 50 states | NMLS #81195
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0 votes 9 answers Share Flag
Fri Dec 7, 2012
Kylee Roe answered:
Hi Joel!
I lived in Dallas for years and years--JJ Pearce High and then U of Houston. Citrus Heights is Suburban, lots of shopping conveniences, parks, some areas with large lots and the occasional horse.

We are basically $1 per sq foot for rentals, so a 1000 sq ft. home would run about , $1000.

You can check Craigslist, or there is a variety of Property Management companies--HomePointe, SacDelta Property (? that may not be the exact name), M&M--to name a few. And the apartments are available on the various type sites.

The schools there have a good reputation--San Juan Unified School District. In my opinion 95610 is a little nicer area, but will cost more. There are some nice neighborhoods in the other C.H. zip--95621, but just drive around to see how YOU feel about it.

GOOD LUCK! Welcome to town.

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Mon Dec 3, 2012
Kimberlan Straws answered:
Sat Dec 21, 2013
Tony Singh answered:
Houses and condos: 16,967
Renter-occupied apartments: 8,136
0 votes 4 answers Share Flag
Sat Dec 29, 2012
Ted DeFazio answered:
All over Sacramento, we're seeing revitalization projects. From foreclosed projects being bought up by new developers to mom and pop flippers buying entry level fixer uppers to bring to market as a turn key, FHA ready home. In the central neighborhoods, dilapidated homes are being torn down to build new or stripped and added on to. The outskirts are seeing new construction roaring back due to the decreased supply of resale inventory. ... more
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Tue Nov 27, 2012
Ed Favinger answered:

I guess you decided to write up the offer with your LLC or Corporation... is that right...?

If so, I'll throw in my opinion with Elizabeth there... sometimes the people working for these various bank servicing outfits on these short sales can get a little power hungry.

I don't think even a title company would ask for this, but I could be wrong. I took title to a property and deeded out using an LLC and they didn't ask for any corporate resolution.

I once had a BofA short sale where the bank didn't want to approve the deal of the buyer because they were taking title as a "partnership" and it was part of a 1031 exchange. When you get on objection like that, it does take some phone calls until you get to a person who has some knowledge of the business and business practices.

And as Miss Elizabeth might say, you wonder where they get these people.

You will have to just work with your agent and give them what they want.

I hope this helps...

Make it a Great Day...!!
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0 votes 6 answers Share Flag
Mon Dec 17, 2012
Bob Willett answered:
There is no way of knowing for sure if your sister will help without a full application, however there is nothing that says it won’t work. In fact this appears based on the information you have provided to be the perfect scenario for a non-owner occupied co-signed. You will be buying a home with a payment less then you current rent, and if I’m not mistaken the problem is the lender can’t use the unemployment income or you would be able to buy. This is when I like to use co-signers – when there is income that would qualify you except that it can’t be used.

However, just because it may be able to work does not mean that you should do it. You do need to carefully consider what will happen if you husband does not go back to work, and refinancing to remove your sister may not be as easy as it sounds. Best of luck.
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