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Home Buying in Redwood City : Real Estate Advice

  • All112
  • Local Info9
  • Home Buying38
  • Home Selling8
  • Market Conditions5

Activity 43
Wed Apr 24, 2013
Robin Spalding Vaccaro answered:
Hi David -

What Flavio said is true.

I look at a lot of tax records when I'm listing and selling. It's amazing how many homeowners in the past 6 years have been in default. Most have been able to re-instate the loan by bring the payments current.

In the current market, an owner in default may actually be able to sell their home quickly. They may even receive multiple offers if the property is in good condition, has a good location or other desirable factors. I've seen short sales, where the property is worth less than the amount of the mortgage, get multiple offers way over asking and true market value and by the closing date, it's no longer a short sale and can close in normal time frame without lender approval.

Anything's possible in this market. What's true to day may not be tomorrow.

Good luck.
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Sun Mar 31, 2013
Jeri Richardson-Daines answered:
Great question! Woodside Plaza is a great neighborhood in Redwood City. Typically you will get more for your money than neighboring cities. I live in Woodside Plaza (and am a local Realtor) and I can tell you that it has a great feel to it and is a great fit for all types of clients (including but not limited to families, young coupes, singles, retirees who are looking to downsize, etc.) Our median prices have been steadily climbing so resale values are very strong. I highly recommend that you consider the plaza as its a great neighborhood for all! ... more
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Tue Jun 18, 2013
Michael Chalhoub answered:
i have 2 fourplexes, 2 triplexes and a 10 unit for sale, not on mls. call me at 650.465.9036 to discuss
0 votes 7 answers Share Flag
Tue Feb 19, 2013
The Medford Team answered:
Depends on a number of factors. I’d recommend containing a local realtor and working with them and their lender to see exactly what your options might be. Prices are high on the peninsula – you might have a better chance over in the Hayward area. ... more
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Fri Apr 12, 2013
Marcy Moyer answered:
Sia,
Great question. So as you are probably aware, you need to go to the court house for the auction prepared to pay all cash and you must be able to pay off all the liens on the property. Many of the homes that have trustee sale dates do not actually go to auction. The owner can postpone the trustee sale by starting a loan modification or a short sale or by declaring bankruptcy. The bank can postpone the trustee for any reason.
If a home gets to auction and is actually worth more than what is owed (which is very rare because if it was, the seller could just sell the home and pocket the profit.) then the auction process is pretty straight forward. The minimum bid is set by how much is owed to the first lender. the second lender has the option of paying off the first lender and if they are not interested in doing that, the bid is open to the public who must also pay off the other liens or out bid the second lender.
It is a very good idea to hire a realtor to help you through this process to make sure you know what you are doing and what the potential problems can be. Since you can not go inside the house when you make the bid it is always a gamble, but sometimes one that pays off.
You should hire a realtor who is familiar with distressed properties as well as the local market.

Marcy Moyer
Keller Williams Realty
marcy@marcymoyer.com
650-619-9285
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Tue May 7, 2013
Marcy Moyer answered:
What is your question? You usually have to wait about 2 years but it varies, and with some banks the wait is shorter.
Marcy Moyer
DRE 01191194
Keller Williams Realty Palo Alto
0 votes 7 answers Share Flag
Sun Nov 18, 2012
John Dutra answered:
Chuck,

If it was a Chapter 13 Bankruptcy, then FHA will take a look at doing a loan for you 1 year after the pay out had begun with permission from the Trustee - or a year after the Chapter 13 has closed. Conventionally, it will require 2 years from the discharge date for a lender to do a loan for a buyer with a Chapter 13 Bankruptcy.

With a Chapter 7 Bankruptcy, FHA will take a look at doing the loan 2 years after the discharge date and for a Conventional loan, they will do a loan for a buyer 2 years from the discharge date with 20% down or 4 years for any down payment less than 20%.

Hope that helps my friend, but if you have any further questions, please don't hesitate to ask.
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Wed Sep 5, 2012
Kate Stevenson answered:
I think it is Clifford Elementary but you can check the exact property address on the Redwood City School District site: http://www.rcsd.k12.ca.us/site/Default.aspx?PageID=231#

Clifford is a K-8 so it is the middle school also. It is quite far from the One Marina area though, and there is no bus service. There are also schools of choice in the Redwood City School District, one is quite close to the One Marina area, it is called Orion Alternative School, check it out, we love it there. ... more
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Wed Sep 19, 2012
David Tapper answered:
You are out of contract and I think it would be best if your agent wrote an addendum and extended the close of escrow. This should have been done prior to going out of contract.

The thing with short sales is sometimes there is no rhyme or reason, they ( the lenders) work with their own set of rules, so to say it's no big deal is foolish.

Good luck,

Tap
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Fri Oct 26, 2012
The Stephen FitzMaurice Team answered:
Don't buy a homeowner special! Irregular homes always have a difficult time re-selling. Find a traditional home in a good neighborhood.
0 votes 6 answers Share Flag
Mon Jul 16, 2012
Rafael Castro Jr answered:
Try the website www.airbnb.com and put in the search criteria for the city. For example, if you put in the criteria Redwood City, CA and the dates you are requesting, you will get 49 results. They range from private rooms to the entire house. For an entire room/apt, you will get 5 results. It will have reviews of previous renters and their experience with the owners, cleanliness, etc.
Rafael Castro Jr
RE/MAX Star Properties
www.RedwoodCityRealEstateSearch.com
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Mon Jul 9, 2012
David Tapper answered:
It's very seldom you will find a rent to own, it's actually a lease to purchase option. What you should do is consult a mortgage professional and find out if you qualify for a loan.


There are programs out there like FHA for as little as 3.5% down or conventional financing for 5% down.

If you need a referral, feel free to ask.

Cheers.

Tap
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Wed Jun 20, 2012
Walter 'Skip' Kersten answered:
The Trustee handling the auction is Recontrust Company. Their phone number is 800-281-8219 and the Trustee sale number is 2011-0115318.
Good luck,
0 votes 1 answer Share Flag
Tue Jun 19, 2012
Chuck Gillooley answered:
Christina,

Pls email me - I have something coming up that may be a perfect fit. chuck @ cghomes.net

Thanks,

Chuck
0 votes 3 answers Share Flag
Sun Nov 18, 2012
Yu Lam answered:
Your agent should be able to help you to ask for extension on the time required to get the 30 yrs fix. If that's not an option, better go with the 7/1 ARM or cancel the contract before the loan contingency date. ... more
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Wed Apr 18, 2012
Svetlana Raleigh answered:
There is nothing else currently available. Two are pending. We can notify you if they fall through and come back on the market. Svetlana and John Raleigh 650-743-4111. Martinique is well priced and available to show. ... more
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Tue Oct 25, 2011
Cliff Keith answered:
Here is how to buy a home step by step: http://wp.me/p1Kaw0-y1
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Fri Jul 1, 2011
David Tapper answered:
Hi Brian, I couldn't find it. Do you have an exact address and where did you see it?

Thanks,

Tap
0 votes 1 answer Share Flag
Mon May 16, 2011
Martha Longhi answered:
You are looking at $200-$250K for a studio if you can find one. Right now there are none on the market. I searched Redwood City, Menlo Park and San Carlos. There are a few 1 bedrooms, the lowest begining the unit on Claremont in Redwood City at $189K. It's a 1/1, 733 sf. monthly HOA is $400. If you are seriously looking to buy a condo, let me know. This is my market and I'd be happy to help you. Feel free to search for property on my web site. ... more
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Wed Dec 29, 2010
Brandon Denman answered:
Hi Sarah,

There is a great new townhome development call the Preserve by KB Homes. There is a lot of information on their site http://www.kbhome.com/Community~CommID~00650485.aspx


Not sure what your price range is as well. If you can give an idea of price range and # of beds and baths you need, sq footage, etc., then I would be more than happy to search around for you for places that would not only fit your criteria, but also be a nice complex. Feel free t contact me if you have questions.

Sincerely,

Brandon Denman - Realtor, CDPE
DRE # 01378663
Pacific Coast Real Estate
brandondenman@comcast.net
www.mypeninsulahome.com
650-303-0880 cell
650-560-6142 e-fax
... more
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