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Costa Mesa : Real Estate Advice

  • All174
  • Local Info7
  • Home Buying54
  • Home Selling3
  • Market Conditions9

Activity 65
Tue Aug 27, 2013
Ingrid Ski Realtor answered:
Hi Single Mom,

How can I help you out? Call or email me about this property.. Talk to you soon...

Ingrid Ski Realtor
First Team Real Estate ... more
0 votes 7 answers Share Flag
Wed Nov 9, 2011
Dan Tabit answered:
Location and noise issues will require some price reduction over the same homes that don't have this limitation and will require a longer than average market time. Sound is in the ear of the beholder. For many buyers it will be a deal killer before they ever get out of the car. For the right buyer it may not be an issue at all, but these buyers are fewer and farther between.
Look at any homes sold with the same limitation and consider the variation they display and start there. Tell your sellers to be patient, a buyer will come.
... more
0 votes 6 answers Share Flag
Tue Apr 9, 2013
Sally Picciuto answered:
Yes, you are right. Prices are down from two years ago. From the high end to the entry level condo, buyers expect a deal and can usually get it. Banks are only going to loan on the latest comparable, so if short sales and reo's drive the market down, that is where the prices are going. Right now, with the interest rates as low as they are, it is a great time to buy. It is cheaper than renting! Buy now! ... more
0 votes 9 answers Share Flag
Sun Oct 21, 2012
Ingrid Ski Realtor answered:
Hello Victoria,

I will talk to you soon.. Thank You

Ingrid Ski Realtor
0 votes 7 answers Share Flag
Tue Oct 4, 2011
Shanna Rogers answered:
Hi Trung,

I looked in the MLS for Elden Avenue in 92627. There are 2 condos for sale but the units have numbers, not letters. Also, neither of them are in default. I'm not sure what property this is that you're referring to?

Shanna Rogers
SR Realty
... more
0 votes 3 answers Share Flag
Thu Mar 29, 2012
Brian Wilson answered:
The problem you have is a seller who is likely in financial trouble and is basically living in the home for free. Normally you would go to your Realtor and they would go through the other Realtor. Since it is a short sale the sellers Realtor is kind of stuck, they can call the bank for an update but may not get a good answer that will satisfy either seller or you.

I don't believe you talking with the seller will do anything other than make you feel like you have done everything you can. Looks like they are planning on dragging it out for as long as possible. Really they have just started, you are in for a long ride if you only focus on this house.

I would suggest finding another house with real sellers, more bluntly, move on. There are some short sales I believe will never actually sell until the bank takes them back and lists them as a foreclosure. That may happen here but if the home is under priced now to get your offer which stalls the auction it will be at a different price.

Good luck,
Brian Wilson, Realtor
DRE# 01321478
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0 votes 17 answers Share Flag
Wed Aug 24, 2011
Jeanne (Genie) Barfield answered:
Some agents charge a fee from the buyer when they sign a broker agent agreement with a buyer. Some don't.
Remember that an agent is going to feel better about the relationship if he/she feels that you are committed to work with one person. Agents are reluctant to work without an agreement. A buyer who is not signing the agreement gives the impression that they will go with more than an agent. We are paid by commission only, if we do not sell, we do not earn a living. I, myself get a signed agreement by do not require for a buyer to pay anything, where the $$$ amount is supposed to go, I write good faith. I also will release a buyer from the (usually 6 months) agreement if I feel that the buyer is no longer comfortable working with me (so far it has not happened). I do not want to keep someone into a "relationship" not working out. It can only go sour. You need to have a good feeling about the person who is going to represent you. Remember one thing, an Agent is not supposed to tell you what to do, but is supposed to provide you with all the information and knowledge you need so you can make the best decision for yourself. An agent can also recommend a professional loan officer working for a reputable establishment. If you are looking at houses on your own you are going to open yourself to possible mistakes (which in real estate can be huge) and situations where you won't know what to do without the proper advice. If you have an agent working with you it will make the procedure a lot easier. You can have a buyer/broker agreement in which you can add more verbiage, as to you reserve the right to termite the agreement if you are not content with the service provided, and other terms you might entertain.
One big no-no, don't have an Agent find you a property, show it to you, advise you, and then termite the buyer/broker agreement to go being the agent back and negotiate with someone else (including the seller).
You would not like to be working for a couple of weeks or a couple of months and have your boss tell you, sorry, I am not paying you. You are in a good position. Just be a little trusting, the majority of real estate Agents are honorable people. Go with a Realtor, (this means your agent belongs to the National Association of Realtors, and have a code of ethics to abide by), you would not think of using a lawyer who doesn't belong to th ABA, would you? I hope I helped you a little with my answer. If you want I can refer you to a Realtor from Keller Williams in your area. Let me know.
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0 votes 15 answers Share Flag
Tue Apr 26, 2016
Joe Homs answered:

You would need to clarity your question further. If you are talking about "assuming a loan," that is possible with condtions. If you want to "transfer" the mortgage to anohter property entirely, that is NOT possible. Let me know if I can assist you further

Joe Homs
Realty World
... more
0 votes 15 answers Share Flag
Thu Mar 19, 2015
John Meussner answered:
They may be able to. I have heard of HOA's foreclosing, and their action holds priority position above the mortgage lien in many cases. I would try to work something out and settle up with the HOA before it gets there. ... more
0 votes 1 answer Share Flag
Sat Jul 16, 2011
Shane Milne answered:
I think that should work, as my brother-in-law who only had his GI money was able to rent an apartment in Rowland Heights while he was going to Mt. SAC, no employment.
0 votes 4 answers Share Flag
Fri Jul 8, 2011
Moni Dabbagh answered:
It depends who is the first lien holder, the first one will take thir debt and will negotiate with the second lien holder. It is the best to do a short sale and pay your lender first. Feel free to call me if you have more questions. ... more
0 votes 6 answers Share Flag
Wed Jun 22, 2011
Sinead McAllister answered:
0 votes 11 answers Share Flag
Thu Jun 2, 2011
Shane Milne answered:
"Best neighborhoods" is subjective depending on what you are looking for. Tons of homes have pools, not a ton have views because Irvine is a relatively flat area unless you are on the edges (Turtle Rock), and then if you have a view of anything, it's going to be of the city of Irvine (which is a clean looking city, but probably not the "view" you were thinking of). Just go go Google maps, Irvine area, and hit "Terrain" and you'll see how flat it is.

If you want a home with a pool and a view that won't break your bank (like talking over $1,000,000 prices) then Laguna Niguel & Aliso Viejo will have what you are looking for, but the views are canyon/vista views, nothing of the ocean. Same in Ladera Ranch, however sections of Foothill Ranch & Rancho Santa Margarita will have peek-a-boo ocean views, with a pool, but the ocean is waaay in the distance. Even Costa Mesa (which is where you posted this) doesn't have any views, as it's mostly flat. In Newport Beach, "Eastbluff" neighborhood would possibly have pools (I am not sure if the homes there) and the ones near the edges of Upper Newport Bay may have a bay view. San Joaquin Hills neighborhood of Newport Beach/Newport Coast also will yield some really nice canyon views (but you are talking about over $1,000,000 I'm sure). A little further north in the Cowan Heights neighborhood of North Tustin boasts some incredible views and there are homes with pools... very eclectic neighborhood, custom homes, older area, one of my favorite in inland OC.

Obvious choices are any beach city (Dana Point, San Clemente, Laguna Beach, Corona del Mar, Newport Beach), but for a pool and a view in a beach city you are probably talking $1-2,000,000 for starters, in those last 3 city's more like $3-4,000,000 for starters). Granted I am not a real estate agent, so these price points could be a bit off.

Hope you are able to find what you are looking for, and if you are looking at south OC my own real estate agent was great and I'd be happy to pass along his info to you if you wish.
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0 votes 4 answers Share Flag
Mon Aug 22, 2011
Brad Davidson answered:
HOA dues are liens against the property get wiped out in a foreclosure. You're off the hook.
0 votes 12 answers Share Flag
Wed May 4, 2011
Colin Delaney answered:
Annie- You are certainly in a good position when you have all cash to buy a property- that can be tremendous leverage when you are negotiating the price.
Should you purchase now with all cash, a good first step would be to speak to a lender about how quickly you can take a mortgage out on the home. Some lenders have a 90 day waiting period after an all cash purchase before a mortgage can be taken out on a property.
Typically a lender will only give you about 80% loan to the value of the home, so taking a loan on the property for more than you paid for it might be very difficult unless you got a steal of a deal!
Generally you can get a much better deal and pay less for the house if you go in with a cash offer. You will also incur less fees upfront with this type of purchase.
As for the other home you plan on buying, a lender will only give you credit of up to 75% of the rental income on the investment property that you own, so factor that into your decisions as well. It might make sense to look at buying the home first, then the investment property second depending on how you might use financing to purchase. I think your best first step is to speak with a lender who can qualify your purchases. If you need a reference for a trustworthy lender, I would be happy to refer one to you.
Good luck!!
... more
0 votes 9 answers Share Flag
Mon Dec 20, 2010
Akop Balayan answered:
Hi Kn,

It sounds like the listing agent of the short sale may have listed the property way too low (which is common), so even if you offer 30k over asking, it's still too low for the bank. Or perhaps the bank received a bad Broker Price Opinion (BPO). I would go back to your agent and ask for an up to date Comparative Market Analysis (CMA), which will indicate the current market value of the home.

What was your offer price? That will put things in perspective for me in relation to the 420k value. Then we'll be able to know if the bank's response is reasonable or not.

Bottom line, make sure you know exactly what the comps indicate so you avoid overpaying for the home.
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0 votes 20 answers Share Flag
Sat May 7, 2011
Michael Barron answered:
Hi there KN. Have you asked your agent these questions? If you used a buyers agent they would be able to answer all these questions. Nobody on this site can give you exact information as they have not seen the offer you made. It does sound ike you have some conflicting information. (Heard people saying )is never good. many people say lots of things but in most cases you will get all different answers many of which are inaccurate.

If you are not working with an agent I would be happy to help

Kind Regards
Michael Barron
Realtor/MBA/REO specialist.
First Team Real Estate
... more
0 votes 11 answers Share Flag
Thu Oct 28, 2010
Vicki Lloyd answered:
It's all of that. Location is about the only factor of a property's value that can't be changed by spending money on it. You can add on, remodel, etc, but you can't add a view, or take away a negative influence like backing up to RR tracks, or being next to a landfill.

"Location" is the difference in value between a 2000 square foot house in Newport Beach vs a 2000 square foot house in Kansas.
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0 votes 14 answers Share Flag
Wed Feb 23, 2011
Vicki Lloyd answered:
In the days of the hot market, when everything sold in 5 minutes, you couldn't really negotiate with builders. It's different now! There can be a lot of flexibility in new homes. Many of them don't want to upset their recent buyers who paid more, so instead of reducing the price, they may throw in upgrades, landscaping, or pre-pay HOA dues for some period of time, etc. ... more
0 votes 7 answers Share Flag
Thu Jul 29, 2010
Anna M Brocco answered:
Consider utilizing the services of an agent in order to attain top dollar--contact a few different realty offices, interview a couple of agents and choose the one you like best--then go from there. ... more
0 votes 2 answers Share Flag
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