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How To... in Los Angeles County : Real Estate Advice

  • All512
  • Local Info30
  • Home Buying266
  • Home Selling32
  • Market Conditions12

Activity 60
Sun Jan 11, 2009
Terra Bruns answered:
Yes, there are a number of additional papers because in 99% plus of the homes the bank gets back, they have never stepped foot in or on the property, so they make sure you know that, agree to that, and sign off on that. I would be happy to answer any other questions you might ... more
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Wed Nov 12, 2008
Jeff and Ginny Mitchell answered:
New legislation is expected soon for owner-occupied home loans to be re-negotiated to avoid foreclosures. We know of a number of cases where the homeowner contacted their banks several months ago to no avail, but talked with them again recently with good results. Their interest rates and/or principal was reduced or in another case, they are being allowed to make interest only payments for a year and extend their loan from a 30 year to a 40 year payback to lower the monthly payment.

You will need to verify the reasons for needing to re-negotiate your loan. The lower wages are a valid reason why you are not able to afford the mortgage now. We suggest trying to work with the bank directly without missing payments if possible.

You may want to consult a good real estate attorney for assistance if you are not successful or wait until late winter or early spring for the new legislative proposals. We are also hearing more and more banks are announcing new programs to forestall short sales and foreclosures. Best wishes for your success.
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Wed Nov 12, 2008
Dyanna answered:
Luie you are about 25 days behind. You should really hire an eviction attorney to evict your tenants. Right now the courts are swamped and it is taking longer to set court dates. A notice to pay or quit doesn't do much if you don't know what follows and by the looks of it, your tenants know the drill. Seek out an eviction attorney and they will have them out in no time!

Good Luck
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Sat Nov 1, 2008
Sheyenne Schultz answered:
Hi Art! I have an awesome lender who is the ceo of the company here in Torrance and is the goddess of loans....she can take a look at your situation for no obligation at all and let you know what you can do or rather what they might be trying to do to you and what your options this market, lenders should be on their knees for your business and work with you...not against should be able to get a better rate or monthly payments...give me a call and I'll point you in the right no obligation and let's see what your options are....knowledge is power...then you'll know how to deal with the situation...Shy
Sheyenne Schultz
Call Realty
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Tue Jan 10, 2012
Daniel Klein answered:
It is against the law to charge upfront Civil Code 1695 and 2425 I think, as long as the property is in default (3 months or more behind).
Modifications are also handled for free by lenders, and yes there are issues, but a client can do these themselves. There is no such thing as a certified foreclosure consultant or similar. ... more
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Tue Nov 11, 2008
Dana Ehrlich answered:
Hi Brian,

I beleive the company managing the new apartements is APT Investing or Keller Williams Commercial Division. Either way I would contact David Berg at 310.295.0068. I hope this helps or at least gets you going in the right direction. Please let me know if I can help you with anything else.

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Tue Oct 14, 2008
Cameron Piper answered:

Your assessor won't be fooled by your bringing the two lowest properties. They have access to the same data and will also have the middle and the highest properties.

I would recommend that you find a local agent who would be willing to assist you in establishing the correct value for your property and bringing that to the assessor, your argument will hold far more water if you are reasonable and fair than if you just bring the lowest that you can find.

Cameron Piper
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Thu Oct 9, 2008
David answered:
i dont believe what your neigborhor does at his house is material to your disclosures.
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Tue Sep 23, 2008
Jeff and Ginny Mitchell answered:
Tax foreclosure properties have traditionally been less expensive than other properties but in the volatile market conditions currently, there are sometimes other homes that are priced lower for the value received. However, tax foreclosures are usually sold at auction, so the bidding will determine the actual sale price, not the "asking" price.

If you are actually referring to bank foreclosures rather than tax foreclosures, then the mortgage holder usually sets an asking price for 45 to 60 days and if they receive no offers will usually lower the price and hold it there for another 45 to 60 days. Hope this brief explanation was helpful.

Whoever the "seller" might be, they want to generate the best possible sale price, and the buyer wants to buy at the lowest possible price. The sale price is the price point at which the seller and buyer agree to sell and buy - a meeting of the minds.
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Tue Sep 2, 2008
Keith Sorem answered:
The end results of a lot survey should be a plat map.
Do you have a specific question?
Trying to help someone read a plat map is like giving you a manicure on the phone....
0 votes 1 answer Share Flag
Mon Sep 1, 2008
Soohyun Son asked:
How to find out if new condo unit is all sold out. List of owners info was asked and denied(California)

This unit started selling one year ago, and I was told that all units are sold....
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Tue Sep 2, 2008
Keith Sorem answered:

I would recommend looking at a couple of things first:
1. Company websites
2. Google them
3. Talk with some agents that you know, or google real estate in your area and see who comes up, call them.
4. Call and make appointments to talk with the managers at some local office that are convenient.

There are some great books on the subject also:
21 things I Wish My Broker Had Told Me
The Millionaire Real Estate Agent - Garry Keller, Jack Papasan, Dave Jenks

If you are thinking of entering the real estate business, a couple of thougts:
1. You are in business as an independent contractor. You are the sales force, the marketing dept., the service, dept, administrative assistant, CEO, and President. It is all on you. There are teams of agents, however generally when you start out, you will be on your own.
2. You are the Lead Generating business. Your ability to generate leads, convert them to appointments, then to transactions, and then to closed escrows determines your income level.
3. I read a great article a while back that said that expect to invest 5 years in a new career to be competent and successful. There is a very large percentage of agents that go into and leave the business each year, which shows that a lot of people think that they can get rich in real estate and when they find out that they actually have to work, they don't get the results they want and they quit.

Questions for brokers (or the office manager)
1. What training do you offer to new agents?
2. What does it take to be successful in real estate?
3. What sort of retirement program do you have?
4. Can I talk with a couple of your agents?

I strongly suggest that you look at the top three companies: Coldwell Banker, ReMax, and Keller Williams
I love Keller Williams and think that we have the best training (I am very biased). We also have profit-sharing.

Questions? GIve me a call 1-888-284-2056
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Tue Sep 2, 2008
Keith Sorem answered:
See below. There are schools that are available, a local real estate office in your target community could provide a referral. We have a number of offices in Tennessee, I can help if I know where.... ... more
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Wed Aug 20, 2008
Scott Godzyk answered:
I would call an attorney who specializes in real estate matters. their fees can range from $300 to $600 an hour. Some may ask for a retainer (a deposit) in advance based on how many hours they think it will take). hope this helps, good luck solving your problem. ... more
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Wed Feb 22, 2012
Maggie, your REALTOR® answered:
Hi Cynthia,

I would recommend that you partner up with an Event Coordinator who specializes in seminars, bridal, non profits, political meetings, etc. You are thinking outside the box and that's a wonderful thing!

Best of luck to you!

Maggie :)
... more
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Fri Feb 6, 2015
Kinga Zabinska-sick answered:
I know that buying a home for the first time might be frightening (I was there only a few years ago so I understand). First of all, you have the right to shop around for a mortgage (just like you are shopping around when you are purchasing a new car). I know that many mortgage companies have special programs for first time buyers. I would start calling the companies first to get the information from them such as what are their programs for first time buyers, what kind of rates do they offer, etc. Working for Coldwell Banker I always refer people to our Coldwell Banker Morgage department (1888-240-5708) to get those initial questions answered! Good luck! ... more
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Mon Jul 21, 2008
Luke Allison answered:

It is not as difficult as you may have been led to believe. You can still put as little as 3% down on a home and even get that 3% as a seller paid down payment assistance for an FHA loan. Mortgages are still pretty clear cut if you are buying your primary home and are fully stating your income. Your credit still has to be good, but it doesn't have to be pristine.
If you have any questions about pre-qualifying for a mortgage, please do not hesitate to contact me. I can originate in all 50 states, including FHA because I work directly for a mortgage bank.

Luke Allison
Flagstar Bank
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Wed Feb 6, 2008
Rosa Juarez asked:
Mon Sep 13, 2010
californiabrokerjd answered:
What kind of LAHD inspection did he 'comply with?' Was this for habitability? Are you following the eviction procedures outlined by the Los Angeles Housing Department ( These often require both a 60 notice and relocation expenses, especially if your tenant is a senior citizen. I recommend you consult with a real estate attorney knowledgeable in Los Angeles landlord-tenant law. ... more
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