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Folsom : Real Estate Advice

  • All146
  • Local Info7
  • Home Buying65
  • Home Selling4
  • Market Conditions5

Activity 116
Fri Nov 1, 2013
Steve Heard answered:
Construction financing is still very risky, and most banks want no part of it. There are a few out there, usually smaller regional banks, but some nationals as well. 90%? I'm guessing there aren't many willing to take that bet.

Try Ruth Probasco-Hearth - U.S. Bank Home Mortgage - 916-708-7788

They only go to 80% though.

You might be able to find hard-money.
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Sun Apr 7, 2013
Steve Heard answered:
Hi Bryan - I would suggest you contact a management company such as www.homerunrentals.com.

They know rents are going for.

It is my believe that you get about $1 to $1.10 per square foot up to about 1500 sq ft or so, with it dropping slightly as the homes get bigger.

How much you get will depend on things such as condition, location and amenities, but know that rentals are moving quickly right now.

Do you have a place you will be renting out or are you looking for a rental to purchase?
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Wed Mar 27, 2013
Stephani & Donna Menser answered:
It is in Sutter Middle School boundaries.

Here is a link to check what schools a specific folsom address would attend:
http://www.fcusd.org/Page/2456
0 votes 1 answer Share Flag
Mon Jul 22, 2013
Suzanne MacDowell answered:
I guess that depends on the topic. If real estate, it probably indicates a buyer who is in the very, very early stages of looking for a home. If romance, may be best to move on now.
0 votes 9 answers Share Flag
Sun Apr 7, 2013
Walter 'Skip' Kersten answered:
With dual agency the broker is representing both the buyer and the seller. It is legal in CA as long as it is disclosed. With single agency the broker is representing either the seller or the buyer.
Good luck,
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Wed Apr 3, 2013
Dena Kouremetis answered:
New construction and resale are closely related in most cases, and past markets have taught us that new home sales tend to help spur resale when there is not an overwhelming number of new dwellings for sale.

Folsom will not be "flooded" with new construction again until the south-of-50 corridor begins to take off. Even then, location will be everything and I believe the older parts of Folsom and especially single-family homes will go up in value because what is planned there are multifamily, small lot homes and attached dwellings. From what I have heard, there is little to no single-family zoning left in Folsom proper, and this is still considered to be one of the premiere suburban communities.

I hope this has helped. I am a Folsom homeowner, and despite my buying at a slightly higher market in 2007, the values in my neighborhood are slowly rising once again. Let's keep our fingers crossed!
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Thu Aug 15, 2013
Gabe Davidson answered:
What you are posting here goes to Real Estate Agents, not Trulia so Im not sure why you are being blocked. Try contacting Trulia tech support maybe.

Gabe Davidson
www.sacshort.com
0 votes 3 answers Share Flag
Wed Jan 9, 2013
Sue Archer Reynolds answered:
In any negotiation, you need to understand the motivations for each party. Tri Counties does not have to participate in HAFA if they are not part of the original banks given TARP money, or some other federal regulation forcing their participation. They don't HAVE to accept any of the terms. This seems to be one of those situations where stronger negotiations are required.

It may take escalating to the executive level to get a final decision from this lender. He maybe financially incented to play hardball, or it could be executive policy, who knows? But if he isn't budging, maybe escalating the issue might help. OR you may need to accept his terms of no relocation and a reduction in commission. OR it may be one of those circumstances where a short sale will not come together.

There is no guarantee that a lender will accept less than what is owed on a loan that is in default. And they are not required to do so, although receiving nothing (in a foreclosure) isn't in their best interest either. Essentially, after a bankruptcy and before a reconveyance is released, you are working with the 'extortion department', as i like to call it, to allow you to short sale the home. They play hardball and they have nothing to lose.

Last, if your bankruptcy was a chapter 13, that argued to strip the second from the house, and the Bk was discharged, your attorney can sue for the reconveyance and you don't even need to talk to the lender anymore. i assume that isn't your circumstance.

Best alternative is to accept his terms or escalate to a higher level in Tri Counties to see if you can get any movement in his position. Good luck!
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Sun Jul 21, 2013
Ahmad Zeki answered:
Hello,

Thanks for your question!

You are in a great position to rent these days. The damaged economy has caused a sharp increase in rental demand. Rents are starting to rise mainly from the increase in rent demand. This is good for landlords.

Folsom is a great area. It has good schools and the surrounding communities are established as well. The shopping center at Palladium is an attractive center for buyers and renters.

Roseville is a fantastic community as well. Roseville has great schools and is home to the Galleria/Fountains Shopping area and many other amenities make it a hotspot of buyers and renters.

Both communities are great to purchase a condo or single family home and both will hold their values.

For more information, please feel free to contact me at (916) 295-0071.

Have a great weekend.

Ahmad Zeki, J.D.
Broker/Realtor
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Fri Jan 11, 2013
Dena Kouremetis answered:
By financial suicide. do you mean you barely qualify for this price house, or are you referring to the universal inability to predict where home values will go?

New homes often set the values for a given area, even when resale values around them are all over the map. The peace of mind you will have in a new home, with its state-of-the-art energy savings amenities, the no-maintenance aspects, and "clean slate" feeling of being able to make it reflect your tastes can be gratifying.

If I am not mistaken, this is a Folsom development. As a Folsom resident, I think we chose one of the BEST places to live in terms of the future. But in today's economic environment (while it seems to be slowly on the mend) don't buy it if you are looking for quick appreciation. Buy it because you love it, because you want to hang on to it and because it reflects everything you want in a home at this stage of your life.
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Sun Aug 10, 2014
Sue Archer Reynolds answered:
Light Rail connections are at both the 80 and 50 corridor so in all cases, you'll probably need to drive to the closest stations. On the 50 corridor there's a station in Folsom near 50 and Folsom Blvd in front of the Folsom outlets, and Rancho Cordova at Folsom Blvd at Sunrise Blvd off of 50. On the 80 corridor there's a station at Watt Avenue. ... more
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Mon Sep 16, 2013
Cynthia Mittleider answered:
Wed Sep 26, 2012
Morgan Larson answered:
I'm not sure about Far Oaks but there are 2 PetSnarts in Folsom. One is in Iron Point very close to E Bidwell.
0 votes 2 answers Share Flag
Sun Sep 23, 2012
Steve Heard answered:
Where are you looking and in what price range?
0 votes 6 answers Share Flag
Wed Oct 3, 2012
Ed Favinger answered:
Good Morning Harry...

Rentals in Folsom are pretty desirable but I don't know if there's an average cost per sq ft that I could give you.

The rental value in my opinion would depend upon the number of bedrooms and other amenities.

However with that said... if you've got a nice looking 4 bedroom you should have no problem getting $2,000 or more in rent. I would need more information to help. Try a Craigslist search, or here on Trulia to find other rentals. You might also try a neat little website, Rentometer.com that will give you some idea. It only uses bedrooms and your address as the criteria. Give it a shot.

I hope this helps...

Make it a great day...
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Sat Oct 13, 2012
Glenn Tompkins answered:
Hey Jon,

If you are talking about the home on Zittle, it looks like a beautiful home. Great location! You have two of the same models that are pending sale on Horseshoe Glen Circle at 369K and Shady Creek Rd at 375K. So, there are definitely supporting comparables. Best of luck with your offer. ... more
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Wed Jul 17, 2013
Andrea Duane - Coldwell Banker answered:
These homes offer very flexible and open concept designs that appeal to many home buyers. The entire build out for these homes will be rather small aournd 79 units total with a small local park. HOA's are appox. $152 a month and mello roos approx. $84. The homes currently under construction will be completed around Dec. 2011. The value in the home will ultimately be determined by the appraiser, but there are some comparables that will support the new home prices. New homes are almost always priced higher than resale homes. Each phase they release is set to increase by $5,000.
If a new home is what you are in the market for and you do not want an attached home then your choices are really limited. Otherwise your options for re-sale may make for more competitive pricing. Inventory in Folsom is low, so working closely with your agent will provide you with the best advantage. Best of luck on your home search.
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Fri Aug 17, 2012
Ed Favinger answered:
Hi Sam...

That's not too bad a price when you think about it. You're getting a brand new home with builder warranties...

The lot may not be all that big but it's pretty standard now. What else does it come with...?

You might ask the agent you are working with to run some comparable sales for you.. Because of the way you asked the question, it sounds to me like you've been looking for a while and kind of already know don't you...?

Let us know what happens...

I hope this helps...

In the mean time

Make it a great day...!
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0 votes 3 answers Share Flag
Sat Aug 4, 2012
Dan Tabit answered:
Bruce,
Congratulations on owning a home free & clear. What you may qualify for depends on a few factors, but largely based on your question the definition of "fair" in regards to your credit. Scores of 620 or better will qualify for most conventional programs and below that you may have some options with FHA depending on the lender and how much lower.
If you are going to have a $500k down payment, how much home are you looking to purchase? Conventional financing has a loan limit of $417,000 and conventional high balance a bit higher depending on the county you are purchasing in. FHA high balance will take you to $567,500. These are the loan amounts, these loans plus your down payment put you into the $900,000 to over $1,000,000.
Generally speaking the tax implications are avoided by rolling your gain into another property, but for your specific scenario it never hurts to talk to an accountant.
Step one would be to meet with a lender and clear up what you qualify for and if you don't qualify yet, what you can do to improve your credit and qualify sooner.
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Fri May 23, 2014
Scott Godzyk answered:
Without a buyer broker representing you, you should then hire a lawyer as a contract is legal and onme should not attempt unless they are expereinced with contract law. You first need to assess how much the house is worth in todays market to know what to answer. You then have to draw up a contract with teh specific contingincies needed to protect you in case you cannot get a mortgage or if it does not pass an inspection or does not appraise at the sales price. A good buyer broker mor ethan covers their fee by saving you money on your offer price and protections with the contract and buying process. ... more
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