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Lincoln : Real Estate Advice

  • All67
  • Local Info6
  • Home Buying25
  • Home Selling2
  • Market Conditions1

Activity 36
Tue Oct 13, 2009
Karen Burns answered:
According to mls stats In the last month 67 houses sold in Lincoln and the average cost per square foot was $140.
0 votes 2 answers Share Flag
Sun Oct 11, 2009
"Carolina Joe" Idleman answered:
When a home is listed as active-contingent in MLS it means that there is a ratified contract to purchase that contains one or more contingencey such as financing, home inspection, etc. These contingencies must be reolved befor the contract can close. Your chances of pruchasing the house depend upon whetger or not the seller is willing to accept a "back-up" offer on the property. If you get a ratified contract as a back-up and the first offer falls thorough you will be come the primary offer. As to your othewr questions check out my blog at www.carolinajoe.com/blog to answer most of your questions. ... more
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Thu May 2, 2013
Kathi Stropkai answered:
Hi Laura,
Both areas you are interested in have inventory that meets your criteria. If you would like to send me some more information I can set up a search and have you start touring the homes via your computer. Setting yourself up with a lender and getting prequalified will make you a much stronger buyer. There are a few different types of loans out there and the lender will help you pick what's best for your needs. Please feel free to contact me at your earliest convenience for more information. Starting now will hopefully meet your deadline of January 2010. You might want to look harder at closing escrow in December 2009 to take advantage of other programs also such as $8000 first time home buyers credit. ... more
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Mon Oct 5, 2009
Brian Frank answered:
Hard to say the complete negative impact until it's up and running.

Brian Frank
916-402-4697
Lyon Real Estate
0 votes 2 answers Share Flag
Thu May 2, 2013
Rob Saxe answered:
Hi Willi,
My site, www.srevs.com, has search capabilities for Lincoln. I live in Rocklin. I'd be happy to set up a search for you and help you get into a home. Let me know if I can help you.
Thanks
Rob Saxe
Realtor
SacramentoRealEstateViews.com
... more
0 votes 4 answers Share Flag
Sun Aug 30, 2015
Melissa Zavala answered:
It sounds like you are in escrow on a property for which there is not final approval from the bank. This could be good because it means that if the short sale is approved, you will not be in a multiple counter offer situation with other buyers. But . . . the waiting is very frustrating, I'm sure. If you really want to property, your real estate agent needs to have a "heart to heart" with the listing agent to find out what is going on. Here are some questions to ask: 1) Have you (the listing agent) confirmed that the bank have the short sale package? 2) Has the bank done the BPO? If so, on what date? 3) Has a negotiator been assigned?

If the bank has done the BPO, then it usually takes no more than 3 weeks for the bank to review the file and get back to the listing agent about the purchase price--whether it will be approved or not. If a negotiator has been assigned, communication should also have occured already. If the listing agent does not know the answers to these questions, then you may need to open your mind to the fact that this agent may not be able to complete the negotiatons in a timely manner.

Also, check with your agent to see if there is a Notice of Default or a Notice of Trustee's Sale on the property. The Trustee's Sale is the auction date, and you are buying a short sale . . . so the auction needs to be postponed. If nobody is conscious of these dates, then the property could be foreclosed right under your nose.

These may not be the answers that you wanted to hear, but I hope that I gave you some concrete information that could help you to make a more informed decision.
... more
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Wed Jun 10, 2009
Teri Andrews-Murch answered:
Sun Apr 5, 2009
Jim Walker answered:
It was a bank repo when Morgan Stanley sold a year ago to the Robert Stanleys, for $330K. The Robert Stanleys do not have it listed on Metrolist. I presume Morgan Stanley and Robert Stanley are not related.

Is there a sign on the property now?
... more
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Tue Dec 23, 2008
Shelly & Mark Koumelis answered:
This home was withdrawn/cancelled on October !5 it was on the market for 22o days the last list price was 1,149,000. This was a Santa Clara model with over 3000 sf..

I am very familliar with Sun City Lincoln hills please let me know if you ar estill interested inliving in this fantastic community.

Thanks
Mark Koumelis
Re/MAX Gold
893-6884
... more
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Tue Aug 19, 2008
Amy Wall answered:
Hi Jennifer,
There is no way around paying Mello Roos, unless you qualify for a community in which there are no Mello Roos, like Sun City. However, many older communities that were built before 1994 have very little or no Mello Roos at all. Your Realtor can help you find out approx. what the Mello Roos for any specific property.
Best of luck.
... more
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Sun May 10, 2009
Melody Cahill answered:
A quick call to your local title insurance company should answer the first question regarding association fees, and the presence of a homeowners association. A preliminary title commitment will reveal if there are liens. If the property is presently listed in a Multiple Listing Service, the Listing Agent may have already opened up that pre-lim, and may have the answer regarding past liens which are recorded. But prior to closing Title & Escrow typically require a written statement - or payoff - from a Homeowners Assn regarding current status of the dues. Your Buyer's Agent can include contract language which states the mortgage holder is to be responsible to pay any outstanding dues at closing. I am writing from the West Coast - Title can be handled differently on the E. Coast and Mid-West. Your real estate professional can advise you best! Kind regards, Melody ... more
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Mon Dec 31, 2007
Erin Stumpf (Attardi) answered:
According to Trendgraphix, the median home price in 95648 in December 2002 was $289,000. The average selling price was $307k, and the average price per square foot was $169.
0 votes 1 answer Share Flag
Wed Jan 30, 2008
Jim Walker answered:
The buyer and the buyers agent don't usually have much influence over any lender 1st or second. I would be surprised to hear the lender is negotiating directly with the buyer. It is the seller and the sellers agent who usually have to negotiate with both the first and the second mortgage holders.
The strategies that you suggest sound like a reasonable approaches for the sellers and their agent to try to work out with the banks.
... more
0 votes 11 answers Share Flag
Tue Oct 23, 2007
Jim Walker answered:
You could apply for a re-zone, or leave the res zoning in place, but get a variance for your specific use.

If you are keeping the house and have a specific business tenant in mind the variance might be the way to go.

That way you have the best of both worlds - if the advantage of business use evaporated in the future and res use was preferable financially, you would not have to go through a full re-zone again. Another thought is to get the variance for a mixed use or live / work space.

The full re-zone might be have higher expenses and requirements than a variance.

I'd like to see the property pitch in an email when you write it.
... more
0 votes 5 answers Share Flag
Wed Nov 17, 2010
Jim Walker answered:
AThe Cal - Vet Loan program limit is currently $521,250. If you have a purchase price of $640,000 that means having to come up with $118,750 Down plus closing costs. You stated you only have 5% down which translates to about $32,000. Cal-vet is not abrokered loan program You would need to contact the California Department of Veterans affairs directly I have referenced the web site below.

The Federal Veterans Administration provides a loan guarantee. These loans are offered by banks and loan borkers. The maximum zero down VA loan is about $417,000 these days.
As your purchase price is $640,000, A lender is likely to require a substantial down payment even with the VA loan guarantee. The US VA does not put a maximum on the amount a lender will lend They are only limiting the amount of the loan that the US government will guarantee. So it is possible that you will be able to get close to the 95% financing that you require to complete your purchase. There are several loan brokers here on Trulia Voices ( you can check their profiles) that may be able to give you more specific advice if you email one or more of them.

US VA:
http://www.homeloans.va.gov/lgyfaq.htm



US Dept
... more
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