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California City : Real Estate Advice

  • All116
  • Local Info8
  • Home Buying46
  • Home Selling9
  • Market Conditions2

Activity 45
Mon Jul 29, 2013
Michael Cheng answered:
For vacant land, you'll need to combine recent comps and the area zoning information to come up with an assessment of the market prices. No one can assign a permanent price for all lots, even if the value stays relatively stable. Only the market can tell you exactly what the current price would be. ... more
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Mon Jul 29, 2013
Bill Eckler answered:
Lucky...

The first thing you should do is determine why it has taken so long to list your property. The listing process places demands on the agent, their company, the MLS, and the customer.

Have you done your part in a timely manner? Paperwork is essential in this process and without everything completed and signed, things just don't happen.

In this situation... with this amount of time and no listing, there is a serious "breakdown" somewhere. If you are not the direct reason for the delay, you might consider other options because this level of service is unacceptable, in any market.

I would seriously consider contacting this agent's broker to request an explanation.

Nearly 3 weeks and not on the MLS....something's seriously wrong.

Bill
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0 votes 12 answers Share Flag
Mon Jul 29, 2013
robert whitman answered:
HELLO . PLEASE DROP BY OUR OFFICE AT HIGH DESERT REALTY SO WE CAN SHOW YOU AROUND. CAL CITY FEATURES LOW CRIME, (NOT AN ISSUE IN MOST AREAS) NO LINES OR TRAFFIC , AND FAST FREEWAYS TO JUST ABOUT ANYWHERE, WRITE ME AT POETFIRE1@GMAIL.COM AND I CAN SEND YOU A NEIGHBORHOOD REPORT THAT SPEAKS OF SCHOOLS, EMPLOYMENT, POPULATION, THE HIGHLIGHTS OF THAT REPORT ARE A COMMUNITY THAT HAS ABOUT 9000 POPULATION WITH THE MAJOR EMPLOYERS BEING THE EDWARDS AIR [BASE, THE BORAX MINE, AND MORE RECENTLY, THE WIND FARMS AND SPACEPORT IN MOJAVE. A MAJOR SOLAR FACILITY JUST HAD A REGIONAL JOB FAIR LOOKING FOR 650 JOBS. THE AVERAGE HOME IS ABOUT $61,000. OFF ROAD TRAFFIC IS OUTSIDE THE CITY OFFICIALLY BUT THERE IS ALWAYS THE HOT DOG KID TO WATCH OUT FOR. THE OFF ROAD OPPORTUNITES ARE SO GOOD IN THE OPEN DESERT MOST PEOPLE WIOULD NOT BOTHER WITH SMALL VACANT LOTS. WE HAVE A BIG GOLF COURSE AND GOLF CARTS ARE ALLOWED ON THE STREETS NEARBY. THE AVERAGE INCOME IS ABOUT $47,000 AND ABOUT HALF THE POPULATION IS 34-54 RANGE WITH ABOUT 1000 SENIORS (SEEMS LIKE MORE WHERE i LIVE AROUND THE GOLF COURSE) . ABOUT 43 HOMES ON THE LISTING SERVICE NOW FOR SALE. YOU MIGHT WANT TO RENT FOR A WHILE TO GET KNOWLEDGE FIRST-WE HAVE RENTALS ALSO. ... more
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Sun Jul 14, 2013
answered:
In order for you to be absolutely funded, the DU approval must be validated by an underwriter. That means that all the information that was in put by the loan originator must be backed up with the documentation thA the DU approval requested ie; paycheck stubs, W2s, overtime verified, etc.
In addition, the appraisal must be reviewed and cleared
The funds to closed must be verified.
AND finally... Right before funding your employment will be reverified to ascertain that you are still employed. Also a final credit report will be pulled to verify that you have not ran up a credit card or bought a new car or furniture, etc.
The DU is only good for the 90 days the credit report is good.
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Sun Jul 14, 2013
answered:
Hi Q:

A preapproval is an actual, completed loan package that has been submitted to an underwriter for approval. The only piece that would be missing is the identified property.

With a preapproval, once the property has be identified, the only documents that would need to be provied would be an appraisal and a contract.

The preapproved loan can close in as little as 2 weeks.

A preapproved demonstrates to the seller that you will be able to close your transaction subject to appraisal (or not if you waive appraisal contingency).

Check out my blog Preapproval v. Prequalification
Questions: cgravelle@diversifiedmg.com
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Tue Jan 1, 2013
Mandy Morey asked:
--
This question was asked from this property: http://www.trulia.com/rental/3100992213-20912-83rd-St-California-City-CA-93505
0 votes 0 Answers Share Flag
Thu Jul 19, 2012
Dan Tabit answered:
Erliep,
Google Maps is a great tool for this. I put, "Cal City" in the search bar and then added "Shopping" for the link below. You can add groceries, banks or any other type of business to get more specific. ... more
0 votes 5 answers Share Flag
Mon May 21, 2012
Michael Emery answered:
If you are considering selling, contact several real estate agents in your area and request a Competitive Market Analysis or CMA. There is no cost for the service as they are hoping you will list with them.

If you're looking for the value of the property for other reasons, you can hire an appraiser.
... more
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Tue Jun 19, 2012
robert whitman answered:
The Lakeshore condos rent in that range and are on Lakeshore dr. in cal city. I live there myself and they allow small dogs, You can also go to my real estate office at High Desert Real Estate on Cal City blvd one block west of the 76 station or call them at 373-4600 in the afternoons when the property management staff is there. They have some apartments for rent now. Some landlords require a pet deposit. It is very smart for home buyers new to the area to rent for a while and take the time to look for the right place to buy. Right now there are over sixty homes for sale in cal city, ten of them under $45000 on my " cheap list", so I can help you see those also. Robert Whitman, Realtor, at High desert. Their office phone is 373-4600 ... more
0 votes 3 answers Share Flag
Wed Feb 1, 2012
Annette Levinson answered:
Jeanette,
You can't buy an investment property with no money down. LLCs have no income so you would have to buy the property in your own name.
0 votes 4 answers Share Flag
Tue Dec 27, 2011
answered:
A few things to consider when you have had a foreclosure on a VA loan and you are looking to use VA financing again. First you have to determine how much remaining entitlement you have, as without sufficient entitlement you may need to put money down on a new home when using VA financing. When your VA loan was foreclosed on, the VA paid a claim, and the amount of the claim they pay will affect how much remaining entitlement you'd have. You would find out how much remaining entitlement you have by requesting a certificate of eligibility, easiest way is online by following the instructions at http://www.benefits.va.gov/homeloans/eligibility.asp

You can read how entitlement impacts the maximum VA loan you can get with 100% financing by reviewing the various examples VA has provided at http://www.benefits.va.gov/homeloans/docs/guaranty_calculation_examples.pdf - example 5 or 6 may apply to you (hopefully not 6).

Another issue is CAIVRS. CAIVRS is a HUD-maintained computer information system which enables
lenders to learn when an applicant has previously defaulted on a federally-assisted loan (such as a VA loan). The database includes default information from the Department of Agriculture, the Small Business Administration, the Department of Education, HUD, and VA. The VA default information included in the database relates to
· overpayments on education cases
· overpayments on disability benefits income, and
· claims paid due to home loan foreclosures

If the CAIVRS screening indicates an applicant is presently delinquent or has had a foreclosure or a claim paid on a loan made, guaranteed or insured by a Federal agency, the lender must suspend processing of the loan application, they contact the applicant for information regarding the loan default, foreclosure or claim. If a previous VA loan is involved, the applicant may call 1-800-827-0648 to make arrangements to repay the debt. An applicant cannot be considered a satisfactory credit risk if they are presently
delinquent or in default on any debt to the Federal Government until the delinquent account has been brought current or satisfactory arrangements have been made between the applicant and the Federal agency. You cannot check CAIVRS on yourself, only an approved lender can, it's free, no credit check is needed although you do need to provide your social security number.

Regarding a foreclosure & VA financing, you are correct in what you read that VA financing is possible 2 years after a foreclosure. On a Ch 13 bankruptcy, now that it's discharged, there would be no further waiting period either. However after a foreclosure or bankruptcy, you will need to have re-established credit of at least 12 months. Re-established credit would be credit cards, auto loans, student loans, personal loans, lines of credit, and similar that would report on a credit report. Most lenders are looking to see that you have 3 forms of re-established credit, with 1 at least 12 months old. After a foreclosure or a bankruptcy a 658 credit score is pretty good, and usually signifies that there has been some re-established credit. However I wonder where you obtained your credit scores from, if it was anyplace other than a mortgage lender or www.myfico.com then they likely are unreliable.

If you'd like help determining how much your remaining entitlement can get you 100% financing on, and if there are any CAIVRS issues, I'd be happy to assist.

Shane Milne | NMLS #81195 | Lending in all 50 states
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0 votes 17 answers Share Flag
Thu Dec 1, 2011
Maite asked:
tell me what happens in coulumbus my brother is in second grade his teacher is mrs.rivera she was my teacher tell her i say hi.
0 votes 0 Answers Share Flag
Thu Feb 9, 2012
Tamara Stoebe answered:
Hello Newhome,

I ran across your question this morning and see that it has not been answered, I think that the question is probably too vague. What kind of property maps of Kern County are you looking for? Street, parcel, county overview? What exactly are you trying to find out?

I'll be happy to assist you with a little bit more information.

Thank you,

Tamara Stoebe, REALTOR, GRI, e-PRO, CHS, QSC
DRE License #01827461
Prudential Troth REALTORS
1801 W. Ave. K
Lancaster, CA 93534
Cell: (661) 466-6849
Fax: (661) 422-3006
E-mail: Tamara@TamaraStoebe.com
Website: www.TamaraStoebe.com
... more
0 votes 1 answer Share Flag
Sun Jul 14, 2013
Priscilla Sims answered:
Your offer is not accepted until all parties sign off on all of the bank's (seller's bank) final documentation. However, you should be on the final stretch! The seller's agent should know though, how much the seller's bank is requiring to settle after the BPO is complete. ... more
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Thu Apr 28, 2011
Sam asked:
0 votes 0 Answers Share Flag
Tue Mar 29, 2011
CJ Brasiel answered:
Mike -

This is no doubt a very bad find. Part of the challenge for any buyer is to verify what they are told or perceive to be the case during the investigation period of the purchase. This includes but not limited to sewer/septic tank. It is best at this point to consult with a real estate attorney to discuss options and whether or not anyone is liable based on mis-information.

I do not have an attorney recommendation for Fresno but I believe local agents will be able to help.

I wish you the best in having this resolved in a positive way.

CJ
... more
0 votes 11 answers Share Flag
Thu Mar 17, 2011
Marcin Talaga answered:
Nate,

If you can show that you can afford both of them, then you don't have a problem. If you can't afford both of them, offer on the one you like best. If both offers go through, you may find yourself on the hook for both homes.

Even if one goes through and you have a chance to back out on the other, I have to question the ethics of putting offers on two seperate short-sales at the same time. When you make an offer on a shortsale, it most likely gets listed as contingent and buyers in the neighborhood won't get a chance to see it. Not only that, you are hurting the owner's chances of selling their home. When a person is trying to short-sale, they are trying to avoid going into foreclosure. Time is of the essence for them and it could be a very nerve recking experience. It's not fair to the seller who loses in the end because if in 2 months time one comes back before the other and you take it, the other seller just lost two months in which another buyer could have come along. Pick the one you like best, and go for that one. It's the right thing to do.

Marcin Talaga

Marcin@conlonrealestate.com
... more
0 votes 2 answers Share Flag
Fri Mar 14, 2014
Tehachapi Mountain Group answered:
My understanding is yes, I would always disclose, in writing, to a Seller that I am a licensed real estate agent when making an offer to purchase a real estate property. As I am licensed in more than one state, I actually name the states that I am licensed in. ... more
0 votes 10 answers Share Flag
Tue Mar 1, 2011
Carl Henker answered:
An appraisal is not required so the property may be purchased as is. Other than that all you need is a job, assets and good credit along with the skills to make the repairs needed. Good Luck ... more
0 votes 2 answers Share Flag
Sun Jul 14, 2013
Tom Carrizales answered:
What is your monthly budget for your space? and term limit?
0 votes 2 answers Share Flag
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