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Santa Clara : Real Estate Advice

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  • Home Buying11
  • Home Selling0
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Activity 13
Mon Dec 13, 2010
Steven Ornellas answered:
Hi Welcome2t,

You can "guesstimate" property tax to be approximately 1.25% of the purchase price; however, if you know the actual property address you can get more accurate information. You can read about that process here: http://www.trulia.com/blog/steve_ornellas_mba_re_mastersgri/2010/05/estimating_property_taxes

As covered in the link above, Property tax bills actually consists of three separate levy categories:

1) General Tax Levy controlled by Proposition 13 and limited to a maximum of 1% of the assessed value of the property.

2) Voter Approved Indebtedness that includes taxes levied to repay bonds approved by the voters.

3) Direct/Special Assessments, controlled by Proposition 218 requiring a majority vote of the property owners. There are over 20 different types of these taxes (i.e., Mello-Roos, Assessment Districts, Vehicle Parking districts, etc.), so you really do need to check this. I have seen “$520 per $100,000 of value” differences in the bay area due to Direct/Special Assessments.

In a normal market taxes trend upward; however, we're not in a normal market. Prop 8 (also covered in the blog) allows a property to petition the County assessor to have taxes lowered.

Best, Steve
... more
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Wed May 18, 2016
answered:
Hi Jimmy...

Are you past your 6mo period? I'm located in Pleasanton and happy to meet with you if you are interested. I specialize in FHA loans.

Call me anytime at 925-708-5400 ... more
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Tue Apr 14, 2009
Steven Ornellas answered:
Hi Cablekc:

Proposition 13 limits the taxation of property to 1.2% of a property’s assessed value (for you, the sales price), plus special assessments and improvement bonds approved by the voters. Property tax increases are limited to a 2% increase in the assessed value of the property per year.

I would estimate your Hazard Insurance at .35% of loan amount per year.

Best, Steve
... more
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Fri Feb 20, 2009
answered:
It's not difficult if you have a proper team in place. Be sure to hire an agent with experience with these transactions.

Do you have your financing in place? Most agent will ask you to have this in order before writing an offer.

I would be happy to speak with you regarding the financing aspect and pitfalls.

Hope to talk with you soon.
... more
0 votes 10 answers Share Flag
Sun Jul 13, 2008
Charles answered:
Hello Sara,

My sister has a wonderful 3-bedroom, 2-bath house for sale on a Kiely side street (a cul de sac). We've spent the past few months renovating it, and she'll be putting it on the market in a matter of days! You won't want to miss this house, that's for sure. It's near Kiely and Homestead. Feel free to contact me at czissman at hotmail. ... more
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Sun Jun 29, 2008
Ken Herrera Group answered:
Hello Ta,

Although I'm not in your area, it could be a good idea for you to buy an REO or Shortsale home. There could be substantial savings in these types of transactions. My recommendation would be to interview atleast 2-3 Buyers agent so you can have the best representation when you enter a transaction like this. The best thing you can do right now is get as much information as possible about your market. REO and Shortsale transactions require a great amount of patience, be prepared! ... more
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Wed Jan 21, 2009
Kathy Scruton answered:
Ashok- You two make great money and have excellent FICO scores. Good job! You have a sizeable dowpayment which is terrific. There are many different loan programs available to you. My advise is to talk to a trusted lender and have them look at your scenario. You are self employed so it may be a little trickier to get a loan. Ask trusted friends and family members to recommend a lender they have worked with or give me a call and I can give you some referrals of trusted lenders I have worked with. ... more
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Sun Jul 13, 2008
Charles answered:
Hayward has a 10-month inventory of single family homes. It's taking, on average, about 90-days for the homes that *do* sell *to* sell (many linger until their listings expire). Hayward property values have gone nowhere but down for nearly a year now, with no end in sight. It's an overused expression, but no one likes trying to catch a falling knife. No one knows where the bottom is, and in a market like this buyers choose only the very best houses at the very best prices in the best neighborhoods. ... more
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Fri Apr 25, 2008
Glenn Schulte answered:
California voted years ago for proposition 13 to limit state property tax to 1% of the sales price to be paid annually. After the vote many city planners refused to issue building permits on new housing areas because they said they "had no more money for infrastructure". Attorneys Mello & Roos forced the issue into court and asked how could the new home buyers pay for the infrastructure needed in new home areas. Long story short...they added a bond to pay for additional items needed (roads/schools/utilities) this additional bond was added to tax bills and eventually added as a "special tax" or "Community Facilities District Tax". So these extra costs are not prop 13 state "tax"...they are "special tax". Now 20 years later you will find vastly different tax areas throughout California, even from one neighborhood to the next. Google search "mello-roos" and you will get more factual and actual information. A Pro realtor will be able to find and correctly calculate property taxes on any home you area interested in. If your agent won't provide you with the facts from your County Tax assesor in writing...get a better Realtor! ... more
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Tue Apr 8, 2008
CJ Brasiel answered:
Ram,

There are condos and town homes in that price range for the area you are looking in. There will be more available on the South side of Lawrence. But the West side of Lawrence will be tough.

Take a look at 2128 Monterey Ave -95051 and 2629 Meadowbrook. These are the examples in your price range.

There have been many discussions about whether or not is best to buy a home in the right neighborhood based on school because more and more the "good" schools (API scores) are becoming over crowded and new entrants are sometimes are moved to the next, less crowded school.

There was a great discussion here on Trulia about the school topic:
http://www.trulia.com/voices/Schools/What_San_Jose_California_middle_schools_and_high_-25348--

Hope this helps.

CJ
... more
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Fri May 23, 2008
Annie Nguyen answered:
You can call Nelva Samiee at Diversity Mortgages. She is very good in difficult loans. Her contact number is 510-409-3015. Good luck. Tell that I sent you.
0 votes 6 answers Share Flag
Fri May 23, 2008
Mario Pinedo, Ccim answered:
Zero down payment loans are almost non-existant right now. The CAL HFA program may work if you are a first time home buyer - there is downpayment assistance offered with this program.
0 votes 4 answers Share Flag
Tue Oct 9, 2007
ian cockburn answered:
Put a couple cones outside the days you are having an open house...and talk to them and ask that for the few hours if they could park somewhere else...and that you would park your own car down the street so they could have more ability to park close to their place ... more
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