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Home Selling in Alhambra : Real Estate Advice

  • All61
  • Local Info3
  • Home Buying24
  • Home Selling5
  • Market Conditions2

Activity 5
Mon Sep 17, 2012
Dan answered:
If you put a lot of work into your home, then it is worth every penny. You live in it an need to be happy and comfortable residing there. As such it would not be for naught.

I think the answer to your question depends on who you speak to you, the location of your property, and the price range. It also depends on what you mean by slide -- prices are always adjusting based on what people can or are willing to pay. Keep in mind that many economists currently assert that once prices bottom out, then prices will stay about the same for a few years as bad loans work through the financial system. In which case, the real price for your home will actually decrease relative to inflation during that time.

If you look at the price per square foot, prices appear to have stabilized for now. There still is some uncertainty in the market and it appears that a large percentage of the homes currently for sale are distressed and being sold in a short sale or at some other point in the foreclosure process. Judging by the number of homes that have been on the market for 180+ days it seems the market may drop further or at least to bring those homes in line with averages for comparable homes that have sold. Moreover, relative to the average price per square foot, the market will discount homes next to undesirable hazards such as the trains running down Mission or the freeway. Also, some higher priced homes seem to have have prices disproportionate with the area so I expect will see declines as well. The Calculated Risk Blog is a good resource in understanding some of the macroeconomic forces at play.
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Wed May 27, 2015
Monique & Joe Carrabba answered:
Hello Landon,

You should hang your liscense somewhere. If you are a broker than if you don't hang your license you should get E&O insurance. In order to get a SUPRA key you generally need to belong to a board.


Monique Carrabba
Keller Williams Wilshire
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Thu Apr 10, 2008
Dot Chance answered:
Did you sell your home yourself? If not, your agent should have walked you through all of this.

My guess is that the first appraisal did not come back at the price they are buying your condo for so they requested another appraisal.

When you buy a home in California there are certain contingency periods in which the buyer has x number of days to have a home inspection, appraisal and loan approval done. Once they remove those contingencies they cannot back out of the agreement without losing their deposit money.

The HOA should have presented them with CCRs and the minutes of the meetings for the past 12 months and probably a balance sheet. Until the HOA gives your buyer that info and gives escrow an HOA Certification, escrow cannot close.

Would you like to close escrow early? If so, it shouldn't be a big deal - especially if you are already moving out.

Did you have contingencies such as "Seller must find replacement property" before closing? If so, then when the time is right you would need to remove your contingency.

Without seeing your paperwork I am merely offering my opinion according to the facts that you have represented.

Here's to a smooth closing for you!

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Fri Mar 14, 2008
CJ Brasiel answered:

The seller questionnaire and the transfer disclosure statement are required disclosures for residential properties. The thought process being that the owner has lived there and knows not only current issues but but also past issues related to the property. The home inspector is only there 2-4 hours and may not discover all items. (i.e. attic to crowded to see x, y, z) Between the seller's knowledge of the property and a professional inspection, the buyer is more likely to get a complete picture.

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Sun Mar 9, 2008
L.A. Real Estate Group answered:
Hi Peter,
Usually it is the seller who pays for all those fees, unless special agreements are made ahead of time by all parties involved. This in turn will help you when it is your turn to buy.
Good Luck.
LA Real Estate Group
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