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Home Buying in Sacramento : Real Estate Advice

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  • Local Info161
  • Home Buying675
  • Home Selling79
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Activity 505
Fri Apr 20, 2012
Gina Borges-Valdez answered:
Thu Jan 10, 2013
Bob Willett answered:
Thu Apr 12, 2012
Kylee Roe answered:
Ummmmm...Maribel....I, and probably every other agent who answers this, can help you. You need a Realtor to keep an eye on Metrolist for you, so when a home comes available on Archcrest, or in that neighborhood, you can go and look right away. Advertising here is spinning your wheels, unless you're looking for a Realtor.

Call me, mail or check my websites out. I'd be happy to help you--send you listings, take you on a home tour, etc.

Did you get pre-qualified for a loan yet?

Good luck, and hope to hear from you.

Kylee

www.kyleeroe.com
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Fri Apr 6, 2012
Carolyn Gjerde-Tu answered:
Chris, there is only one age-restricted community in Davis - it is a very small complex - not new but probably not really large enough for "cliques" either. Units have been selling for just over $200,000 but are on the small side (about 1000 square feet).
Davis was recently named one of the best places to retire by Forbes magazine - so although there are not a lot of dedicated "senior" communities - it is fairly sought after for retirees. In Sacramento there is Heritage Park in North Natomas (gated senior community - detached homes) and Sun Meadows also gated also detached homes. Heritage Park would be closer to Davis.
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Wed Apr 4, 2012
Dan Tabit answered:
Dreamhome,
It varied depending upon the market. I purchased a home in 88 and watched the value go up like a rocket until then, settle back a bit, but then it eventually started rising again.
This crash is different from 91, it had many more elements feeding the purchase frenzy, especially the looseness of money. We are beginning to see recovery in various pockets of the country while other areas are still in decline. I suspect things will eventually return over time, no one knows exactly how much time though.
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Fri May 12, 2017
Jim Walker answered:
Fri Mar 30, 2012
John Arendsen answered:
Not sure which question you'll refer back to so here it is again.

A lot depends on where the MH community/park is located. Make sure it's not in a flood plain as much of the Sacramento is. Especially around the Sac River area. Don't buy any pre HUD homes (built before June 15, 1976.) Many Pre HUD homes were made with a lot of caustic and carcinogenic chemicals i.e. formaldahide and asbestos. In fact I would try not to purchase anything made before 1980.

Make sure you hire an experienced manufactured home inspector and not just any home inspector. You need to have a thorough inspection done of the crawl space area under the home. The inspector needs to belly crawl the distance and look at every pier and pad support under the home and check for tightness, rust deterioration, cracked wood pads and make sure the home is level.

He should also make sure the vapor barrier (membrane below the floor seperating the floor from the ground and protecting the insulation. They should also check for any drainage issues i.e. standing water, mold, meldew odors, soil erosion, cracks in soil, etc.

Other than that manufactured homes are great to live in. The newer the home the better. Lot's of folks try to buy the least expensive home they can find only to end up with a pile of repair and improvement costs on an old home that they'll never recoup.

Finally, make sure your park managment adjusts rent accorting to the annual cost of living aka, CPI, index and doesn't just arbitralily jack up rents. There's an age old adage in the MH industry. The higher the rent the lower the value of the home and the more difficult it is to sell. Good Luck!
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Fri Mar 30, 2012
John Arendsen answered:
A lot depends on where the MH community/park is located. Make sure it's not in a flood plain as much of the Sacramento is. Especially around the Sac River area. Don't buy any pre HUD homes (built before June 15, 1976.) Many Pre HUD homes were made with a lot of caustic and carcinogenic chemicals i.e. formaldahide and asbestos. In fact I would try not to purchase anything made before 1980.

Make sure you hire an experienced manufactured home inspector and not just any home inspector. You need to have a thorough inspection done of the crawl space area under the home. The inspector needs to belly crawl the distance and look at every pier and pad support under the home and check for tightness, rust deterioration, cracked wood pads and make sure the home is level.

He should also make sure the vapor barrier (membrane below the floor seperating the floor from the ground and protecting the insulation. They should also check for any drainage issues i.e. standing water, mold, meldew odors, soil erosion, cracks in soil, etc.

Other than that manufactured homes are great to live in. The newer the home the better. Lot's of folks try to buy the least expensive home they can find only to end up with a pile of repair and improvement costs on an old home that they'll never recoup.

Finally, make sure your park managment adjusts rent accorting to the annual cost of living aka, CPI, index and doesn't just arbitralily jack up rents. There's an age old adage in the MH industry. The higher the rent the lower the value of the home and the more difficult it is to sell. Good Luck!
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0 votes 1 answer Share Flag
Mon Apr 2, 2012
Tamara Dorirs answered:
You agent borrowed money from you? That's highly unethical and might even be illegal. I'm not sure I would try and change agents at this point since you don't want to prolong the escrow and possibly lose the deal, but I would be calling that agent's broker ASAP and consider other forms of resolution after the close of escrow. ... more
0 votes 26 answers Share Flag
Thu Mar 15, 2012
Bob Willett answered:
I can answer the 2nd question about insurance: Yes! The insurance will costs a lot more because you will need to buy flood insurance – and it isn’t cheap.

As for a price difference, I’m sure that you will get responses form some of the excellent Realtors we have in this area. There is a difference because some people will not buy there because of the flood risk (like me.) But on the other hand, many people like it out there because it’s close to Downtown Sacramento and the houses are newer. ... more
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Wed May 15, 2013
Voices Member answered:
Of course you can ! As long as you are not the listing agent and had anything to do with the suggest price. That might raise a red flag if the home owner feels he could have made more on the sale of his home.. ... more
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Mon Mar 19, 2012
Anthony Carrillo answered:
Hi,
The areas that will likely appreciate are:1) East Sacramento, 2) Land Park, 3) Curtis Park,
4) Midtown/Downtown Area, 5) Hollywood Park, and 6) Pocket/Greenhaven Area. The reason I choose these areas is during our downturn these areas held there value better while other areas that had major building growth saw major declines in value. Why? Because the areas I mentioned are older, been through these cycles before, great areas to raise a family and are highly desirable no matter what the economy is like. Some other reasons are the people that live in these communities have upper level careers with the state and or the capital and most likely work in the downtown area and for the most part these areas have been more immune to the degree of depreciation that has occurred in comparison to other areas. As our local economy gets stronger, and we are starting to see these signs in 2012 already, we are likley to see these areas start to increase in value again.

Anthony Carrillo
Short Sale Specialist
Cook Realty
acarrillo@cookrealty.net
916-833-6266cell
Lic# 01471219
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Thu Mar 8, 2012
Anthony Carrillo answered:
Most buyers are looking for an agent that can lead them through the process successfully. More over, buyers are looking for agents they feel they can trust to do a great job for them. A great buyer's agent is someone that can instill confidence and trust with buyer's that they are capable of not only finding the right home for them but they have the experience to get the sale closed. I believe great agents are great listeners, leaders and communicators and that is how they instill the trust and confidence with buyers. Great agents know the buying process and all the pro's cons of each situation and know how to navigate the pitfalls during a transaction. What I have found is that buyer's are fearful of the buying process and the unknown and by communicating with them what has and is going to happen throughout the process eases their fears and instills confidence.

Anthony Carrillo
Short Sale & REO Specialist
Cook Realty
acarrillo@cookrealty.net
916-833-6266cell
Lic#01471219
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0 votes 4 answers Share Flag
Tue Mar 6, 2012
Keisha Mathews answered:
The typical process is the following:

1. Short Sale package sent to the lender/ Acknowledge receipt (one week)
2. BPO ordered (two weeks)
3. Negotiator assigned (one to two weeks)

4. Valuations/Assessment of the offer and short sale documentation (30 to 45 days)
5. Offer counter/denied/approved (one to two weeks)
6. Sent to investor for approval (if approved) (two to four weeks)

The order that the BPO is completed and the negotiator assigned may differ. Some lenders are trying to do as much work up front as possible. Such as completing a BPO (this is often done every three months automatically with some banks and is kept on file), or assigning a file to a specialist who can expedite the transaction.

The timeframes of each above are general timeframes but, because they are in the hand of an individual, can sometimes be faster or take longer. But I have come to gauge a transaction to the timeline abov and for the most part, am seeing files close accordingly.

Some of the pitfalls are:

1. Government programs - The Government implemented programs under Making Home Affordable (HAFA, HAMP, HARP, etc), initially intended to assist the market but created huge learning curves in the implementation of the programs. This has created many hangups and snags over the past few years. However, I have seen a significant downturn in fallouts due to the short sale lender and seen more lately due to the buyers' lender.

2. The Buyer's lender - Tightening lender guidelines have been a cause of major short sale fallout over the past year.

3. Upcoming election - Becuase many of te candidates will want to be seen as doing someonthign for the people, we may actually see false movement ("the market is recovering" type of talk) that may have a backlash after the election is over.

For the most part, making an offer on a short sale can be a great experience if all parties are well informed and expectations are set up front. The banks are definitely approving more short sales faster, showing that their processes are streamlining and staff turnover has been minimized. Also, many certifications (CDPE, HAFA, etc) are doing more to make certification more affordable and to educate more agents on both sides (buyer and seller). This is very important.

Short sales are here to stay for a while. We can't fear them, embrace them and if we go in with a mindset of "there is a solution for everything". we can succeed in the world of short sales.


Keisha Mathews, REALTOR®
CDPE®, HRC®, HAFA® Certified
The Short Sale Lady(sm)
Century 21 Landmark Network
(916) 370-1803
keisha.mathews@century21.com
www.SheSoldItForMe.com
lic#: 01439130
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Mon Mar 5, 2012
Mike Schubert answered:
Start with a lender first. Most first time buyers are reluctant to take that step but it's critical to understand the financing and how much you qualify for before beginning your home search. Based on what the lender tells you, you can begin to search in areas that you now know you can afford. Contact me and I'll point you in the right direction.
Mike Schubert
Better Homes & Gardens Mason McDuffie
DRE# 01894768
(916) 799-8300
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Wed Mar 7, 2012
Patrick O'Hare answered:
Everything is negotiable, including what costs are negotiable. That
being said, the type of financing you are using may impact the
negotiability---and even if it is "allowable" for the seller to pay some
costs, it may have an impact on other parts of your loan process. Who
the seller is will also impact whether it is "negotiable". Some sellers
cannot pay some particular costs, even if it is the rule 99% if the time
that the seller always pays a fee, your seller may be prohibited from
paying the expense. As Elizabeth said, you are best served by engaging
the services of an experienced agent and loan officer who can guide you
in negotiating the best purchase scenario on each propery. Your best
negotiated deal will vary in each situation. Recognize also that there is
no free lunch, whatever costs the seller absorbs will no doubt be reflected
in the price they will accept. Good luck
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0 votes 7 answers Share Flag
Sat Mar 10, 2012
Katie Daire answered:
A couple things that surprised me when we were buying:
1) Everything really is negotiable. From repairs, to appliances, to cost, it doesn't hurt to ask for everything you want.
2) Things can take MUCH longer than anticipated. Even though we had been warned that things could take a variable length of time - especially waiting for short sale approvals - some parts felt like they lasted longer than they should have. And although the closing date had to be delayed by only a couple of days, still felt like forever! This leads to...
3) Buying a home is a more emotional process than I realized. It's MUCH more than just a financial transaction - it can be a very stressful and intense experience. But at the end of it, you get a place you love and it's totally worth it!
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0 votes 9 answers Share Flag
Tue Jan 8, 2013
Linda S. Cefalu answered:
Did you have a question about a short sale?
0 votes 6 answers Share Flag
Tue Aug 13, 2013
Jim Walker answered:
The short answer is yes. The long answer is probably..
For a bank loan for a personal owner occupied residence or an investment property up to four units, I think you will need to have income that is reported on a US federal tax return. There are non-bank lenders who will make a loan to you even if you do not have the tax return filing history.

If you have just arrived and your income here is just starting this year, see a loan officer about the special documentation that you would need from your employer to show that you have a permanent US income.
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0 votes 15 answers Share Flag
Fri Feb 17, 2012
Brandie Ribeiro answered:
Its posted in the paper, but the most accurate site would be foreclosure radar. It is kept updated through the trustees. The dates posted typically changes numerous times before a home is actually sold via auction. The auctions are all held in different locations: court house steps, hotels, sheriff, etc... The issue you will come into is that these homes are not being sold free and clear. A lot of them have liens, seconds, etc... that you will acquire once you buy them. The people going to these auctions have title researched on each property and physically inspect. The entire process is time consuming and tricky. I would recommend finding a Realtor who is experienced in this type of sale to help you.

If you have additional questions, please feel free to contact me.

Brandie Ribeiro
(916) 995-7564
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