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How To... in California : Real Estate Advice

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Activity 255
Wed Jun 24, 2009
Jacob Varghese answered:
What application are you referring to? Who is your loan officer, he should be able to do it.
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Mon Jun 22, 2009
Jacob Varghese answered:
Sun Jul 5, 2009
Tony Accardo answered:
I'm not familiar with the Allied course but there is lots of information to study to become an agent. Home studies are difficult and you may be better off with an adult college course which will have the benefit of open dialog with a Real Estate professional. There isn't much for opportunities as a Trainee since there is an incredible amount of liability that a sponsoring Realtor would have.

Once you've completed your required courses (which are set to increase once again soon) and scheduled for the state test, I would highly recommend taking a two day crash course the weekend prior to testing. One of the best in the area is called RET or Real Estate Trainers based out of Santa Ana (however with multiple training offices such as Culver City).

Best of luck! I think you're heading into the right industry at a good time!
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Thu Nov 4, 2010
Steven Ornellas answered:
Hi Lisa, just responded to your other question, try this site, its uses a new "vertical search" method that returns more results than any other site I have used:

http://apartments.cazoodle.com/search/city-Long%20Beach,CA

Best, Steve
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Wed Jun 17, 2009
Michael Roberts answered:
Oh my! Have a chat with your Broker Jodie!

Michael
http://www.MichaelRobertsHomes.com
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Mon Jun 8, 2009
Walter 'Skip' Kersten answered:
Hi Syd,
Try using my web site. You can search like an agent. Good luck,
Walter
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Fri May 29, 2009
Edee Campbell answered:
How was it valued when you purchased it? How long have you owned it? Do you have P&L reports?
I own a 7-11 Convenience store in Lake Tahoe and my best advice would be to find a good Realtor who specializes in businesses and have them do a market analysis for you. If you don't know anyone, I would be happy to refer you. ... more
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Thu May 21, 2009
Bill Eckler answered:
Eos,

We are truly sorry to hear of your mother's illness.

Our recommendation is to contact an attorney to get their opinion of your best course of action on this and other estate matters.

Good luck
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Tue May 19, 2009
Tammy Davis answered:
Hi Wigwag,
No you cannot use a Grant Deed or Quitclaim Deed to remove your name from title. You need to contact the Department of Housing in Sacramento for the forms necessary to change title.
It is a fairly simple process, similar to changing the title on a motor vehicle. They can also let you know the timeframe and the fees involved.

Good luck~~
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Sun May 10, 2009
Jacob Varghese answered:
Please read the link below. The whole process is explained.

http://www.sccgov.org/portal/site/asr/agencyarticle?path=%252Fv7%252FAssessor%252C%2520Office%2520of%2520the%2520%2528ELO%2529&contentId=1460bb3166b34010VgnVCMP2200049dc4a92____ ... more
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Tue Sep 20, 2016
Jed Lane answered:
This is one of the many bad things that can happen when people go through life not being on the up and up. There are many problems and pitfalls for you right now and really really the most important thing for you to do is contact an attorney. Try the rent board and see if they can help you but do not do anything eles till you get legal advice.

Next time have the landlord's permission to sublease or take on roommates. Then it becomes his responsibility to screen the tenant and they have a little recourse.
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Fri May 8, 2009
Derek Joyner answered:
It sounds like you are doing a pretty good job. I might would pay an agent a little something to do a CMA(Comparative Market Analysis) for you. This will probably not be the last time you will be fighting the tax office. The real estate tax is where a lot of the government is trying to make up some extra money. They are raising your value not the tax rate. That way when you come and complain they can say well your value increased and we did not increase the rate. I read something the other day that said the government is planning to raise taxes by around 1.8 trillion dollars in the next 10 years. Which will pretty much double everything in the next 10 years on taxes. This is there plan for the money they have spent on this recession. So get ready you may have to do this again for the next 9 years. If you can find your old appraisal that might help to. They will say it is an old appraisal, but if you can get a real estate agent to give you or at least tell you what the appreciation rate has been since Feb 08 you might can use this. Hope this helped. ... more
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Mon May 4, 2009
Grace Hanamoto answered:
Hello 2whom and thanks for your question.

Depending on how you purchased your home with your significant other--tenants in common or joint tenants--each side is entitled to a proportionate share of the interest and property tax deductions on the home. The form of ownership, however, will determine how that much each partner is entitled to deduct.

Beyond this little bit of advice, however, your question is best asked of a CPA or tax professional rather than a real estate agent or real estate professional. We are not licensed in providing tax assistance--only real estate help. The IRS provides a lot of useful information at their website at www.irs.gov. You may also use the IRS "help" line at 800-829-1040 to receive advice from live IRS technicians every week day from 7 a.m. to 10 p.m. local time.

Good luck and thanks again for your question!

Sincerely,
Grace Morioka, SRES, e-Pro
Area Pro Realty
San Jose, CA
Tel 408-426-1616
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Mon Apr 27, 2009
Jonelle Bechard answered:
hI Lisa , You would apply at LAHD( Los Angeles Housing Department) if you need more information on low income housing please contact me at 818-605-3204

Thank you,

Jonelle Bechard
Rodeo Realty
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Sun Apr 26, 2009
Homa Moaddel answered:
Hi Kaplan123,

Yes these is a way to claim depreciation on investment property and once your property produces income(when you rent it) you will have investment property.

You need to consult with an accountant.

Sincerely,

Homa
Prudential
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Sat Apr 25, 2009
The Hagley Group answered:
Your 7 day subscription to what?
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Thu Apr 23, 2009
Pacita Dimacali answered:
Here's a link to Financial Calculators --- there's a calculator for every purpose
http://www.financialcalculators.com/

And...I do have clients who are buying residential income properties for different reasons.
1) For owner-occupancy
2) For investment

They find that the current market environment is very kind to buyers especially because of recent tax breaks and programs that are available. such as the first time buyer tax credits, California's mortgage insurance program, FHA 203 (loan for properties that need repairs/rehab). Add to that the current low interest rates (some of the lowest in 40 years!)

In Berkeley, Oakland and Hayward, there are rent controls. So sometimes, it's best that the properties are delivered vacant so that the buyers can find their own renters, unless the current rents are at market value.

Because there are so many foreclosures, it has an effect on the rental market in the sense that the folks who lose their homes will need a place to stay. So rentals are holding steady.

See:

Rehab a Home with HUD's 203(K)
The Section 203(k) program is the Department's primary program for the rehabilitation and repair of single family properties. As such, it is an important tool for community and neighborhood revitalization and for expanding homeownership opportunities. Since these are the primary goals of HUD, the Department believes that Section 203(k) is an important program and we intend to continue to strongly support the program and the lenders that participate in it.
http://www.hud.gov/offices/hsg/sfh/203k/203kabou.cfm

California’s Mortgage Protection. On April 2, 2009, the California Association of Realtors announced, through the Housing Affordability Fund Mortgage Protection Program, that first-time home buyers who lose their jobs due to layoffs may be eligible to receive up to $1,500 per month, for six months, to help make their mortgage payments. http://www.realtor.org/RMODaily.nsf/pages/News2009040706?OpenDocument&WT.cg_n=RMO&WT.cg_s=RSSDaily



First Time Home Buyer Credit. A tax credit of up to $8,000 is available for eligible first-time home buyers purchasing a principal residence on or after January 1, 2009 and before December 1, 2009. Unlike the tax credit enacted in 2008, the new credit does not have to be repaid. http://www.federalhousingtaxcredit.com/


Tax Credit for NEW Home Purchase. A tax credit of 5% of the home’s purchase price or up to $10,000 is available for qualified buyers who purchase on or after March 1, 2009 and before March 1, 2010, a principal residence that is new construction and has never been occupied. This is not a loan and does not have to be repaid as long as owner lives in the house for 2 years after buying the home.
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Tue Apr 21, 2009
Holly Blair answered:
Hi there! My husband and I just bought a home here in Lemoore, so I can maybe help give a little info about our experience... One of the first things we did was get an agent, because of the market, and so many foreclosures, it took us a while to find a house that met all our family's needs. We went through 3 - lazy, rotten, and just plain, incompetent agents... Then, we found Bianca Pigford out of the Century 21 office in Hanford (the one by the mall, in the office buildings across the street from the Ross side of the mall. Anyway, I still have her number, it is (559) 707-2074. She helped us buy a 2200 sq ft 4 bedroom, 2.5 bathroom! No, we're not rich, we're just a family from the Valley and it was just her actually doing a GOOD JOB... She found this house going into foreclosure and helped us untangle all the bank paperwork and get the home our family will have for years to come. :) I loved how well she worked for us, and I recommended her to my sister. She helped my sister find her first home - in a price range she could afford. I'm not a spammer or anything, I just loved her service so much, I am happy to recommend her to others. You can email me if you want, and ask me any questions about the Hanford/Lemoore area. I hope I helped! :) ... more
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Sun Nov 15, 2009
Erica Glessing answered:
Homeowner insurance is typically required by your lender, whether you want to buy it or not! You might want to shop carefully for the best rate. If you let it lapse, the lender will obtain insurance for you and the rate could be four times as high as a competitive rate you could find by good searching.

Good luck!

Erica
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