Bill, Has the appraisal been done? Is there a "community" heater? I would think you are going to run into issues with financing unless there is some sort of heating mechanism providing service to the unit. Could be considered a health and safety issue, or the lender could just deny financing. Certainly a negotiable item...curious that it was not disclosed in the listing or the sellers disclosures. It seems pretty incongruous that seller or LA did not know there is no heater in the unit.
If it has been on the market since 06, offer as low as you want. The worst thing they can do is reject it. I would think that at this point, they would want to get rid of it so any offer coming in is worth looking at for them. Take the chance. Why not?
My advice would be to ask for referrals from other investors who have had good experiences with agents in your marketplace. Another option would be to interview a couple agents and try to find one with experience in handling investment properties. Many agents are also investors themselves. Find an agent who owns multiple properties.... more
I suggest you work directly with your Agent/REALTOR to find a rental through the MLS. They might be able to locate either a mo to mo lease or 6 month. Craig's List is another option however a bit more risky. Most of the home rentals in the OPE area however are going to me higher than $2500 per month and may require a 12 month lease. You can also try contacting property management companies. Many of the Trulia agents would be happy to help if you do not have an agent yet.
Marcie Sands, REALTOR
Simply The Best Real Estate Co., Inc.
In Encinitas, the market for higher priced homes is fairly stagnant because there are not as many loans available right now for buyers of higher priced homes. The homes priced under $750,000 seem to move very, very quickly and get multiple offers.... more
Yes, the properties West of Interstate 5 retain their value and appreciate at a higher rate normally than other properties. If you are able to find something in your price range that you like and will like in the future, it would be beneficial for you to purchase. You didn't mention your time frame for purchasing or if you are a first time home buyer. The interest rates are low at this time and if a first time homebuyer, there is the $8000 tax credit until November 2009.
Most Banks will not make any repairs and are sold " as-is", however, it is negotiable though. Most banks realize that it would have to be fixed, regardless. Also, it is a good thing to know what type of loan you will be using because some loans will not be approved with items that need serious repairs, such as a major problem like termites, ie, FHA or VA loans.
It seems like you do not have an agent. Need an Encinitas Local Realtor? Well, I can help or you wil soon have a bunch of other Realtors chiming in on the comments here giving you their " pitch " and suggestions.
If you need help finding bargains in Encinitas, I'd love to help.
760 207 7245
Century 21 United Brokers
Make sure that you have looked at the most recent comparable sales list surrounding the home you are considering purchasing. List prices vary across the board, so pay attention to the market value, not the list price. One should use the same concept on a home vs. condo. Except with a home, one must pay more attention the comparable lot locations, sizes, shapes, and usability.... more
The first step is to interview the most highly qualified realtors you can find in the city. Once you choose the one to work with, they should have an established relationship with a lender both they and you trust. It is critical that this lender is accountable to both you and the real estate company for future business. The lender will then be able to help provide you with the best information regarding what you can afford and feel most comfortable with.... more