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Woodland Hills : Real Estate Advice

  • All93
  • Local Info5
  • Home Buying26
  • Home Selling1
  • Market Conditions1

Activity 61
Wed Mar 31, 2010
John B Wells answered:
Great news G.d, the housing market is such that the larger brokers know of homes in their inventory that they need to do something with quickly, or they might lose a listing or possibly even ruin a contingent sale if they don't act. Email me quick and I will refer you to a large brokerage that would be most able to identify which sellers would accept a rent-to-buy offer. Our referral connections are huge!!!... and I would personally oversee our departments recommendation for you. My email is johnwells@championrealty.com ... more
0 votes 3 answers Share Flag
Wed May 11, 2016
Liliana Alfonso answered:
Hi Mani,
I would be happy to assist you with your search. I am very familiar with those areas.

Liliana Alfonso
Dilbeck Realtors
818-414-0396
0 votes 5 answers Share Flag
Thu Sep 10, 2009
Joe Nernberg answered:
You don't NEED an attorney, but Nick Campbell is an attorney and a lawyer (805-306-1100). Less expensive homes are north of the 101 freeway. Try Jerry's Deli on Ventura Blvd for great sandwiches. ... more
0 votes 7 answers Share Flag
Wed Jan 12, 2011
Dyanna answered:
This is the agents decision not the banks. The agent wants to make sure that if you back out, there is another offer waiting. This is just for the contingency time period. As long as the agent is still in communication with you and you open escrow you should be fine. Congratulations!

Dyanna
... more
0 votes 6 answers Share Flag
Tue Aug 17, 2010
Rebecca Chambliss answered:
If the Seller's don't have any money (which is likely the case in a short sale) they can't pay. If the bank won't pay, then the sale will not go through. The agent can ask the bank, and if they refuse then the only options to pay it are you and/or each agent. Sometimes it can be split 3 ways between the buyer and each agent. The agents are resonsible because they had you sign something that wasn't accurate. ... more
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Fri Mar 20, 2015
Sara Mehrpouyan answered:
This seems to be an older post. You may contact me for Woodland Hills Real Estate or view my website at www.athomewithsara.com for more information.

Sara Mehrpouyan
Rodeo Realty
Direct: 818-903-2040
Dre Lic#01712757
... more
0 votes 4 answers Share Flag
Thu Sep 10, 2009
Richard Schulman answered:
Find a foreclosure!! Short sales take forever
0 votes 7 answers Share Flag
Thu Jan 29, 2009
Under The Bus Capital Investments answered:
That's easy!!!

MORE FORECLOSURES!!!

Same bus, second shift!
http://www.cbsnews.com/video/watch/?id=4668112n

FHA-backed loans: the next subprime crisis?
http://www.msnbc.msn.com/id/27844894/

Half of 'rescued' borrowers still default
http://money.cnn.com/2008/12/08/news/economy/mortgage_summit/index.htm?postversion=2008120917

Dynamic Maps of Nonprime Mortgage Conditions in the United States
http://www.newyorkfed.org/mortgagemaps/

Worst year for jobs since '45
http://money.cnn.com/2009/01/09/news/economy/jobs_december/index.htm?postversion=2009010912

ADP National Employment Report
http://www.adpemploymentreport.com/

Remember, the crystal ball you are looking at is the hood ornament of the bus!

"I see treadmarks in your future...!"
-The Bus Driver
... more
0 votes 5 answers Share Flag
Wed May 14, 2014
Susan Oliver answered:
Do you mean underwriter? An underwriter reviews loan documents and finds discrepancies. Once they have reviewed the documents entirely and made sure all questions and demands are met, they allow the loan to be approved. ... more
0 votes 1 answer Share Flag
Thu Nov 13, 2008
Maria Morton answered:
"Sigh approval"??? Where did you hear this phrase? What was it in relation to?
0 votes 2 answers Share Flag
Wed Jan 12, 2011
Craig Elie answered:
I can set you up on an alert system that will notify you daily of new listings, also you will have access to change your search criteria as needed. It's a great tool, it can even show you how many days a property has been on the market. Send me an email and I will set you up. ... more
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Sat Oct 4, 2008
Craig Elie answered:
If you want the house pay up the 10%. In these market conditions, I wouldn't bank on being able to refi. NOBODY knows what is what will happen with the market and if they say they do, they are lying. There is speculation that we are entering the bottom of the market, but that was before the recent financial historical events took place. It sounds like a place you would like to settle. Doesn't really sound like a bad buy. I would ask the owners if they would carry the 41K note. ... more
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Mon Aug 25, 2008
Susan Wesely answered:
AA - good questions! You can write anything in that you want. Whether the banks will accept it is the question. An inspection contingency is common, and you should include one. People may be waiting a long time because they are offering on "short sale" homes that are not yet REOs. These take long times. Also, people may not think of limiting the contract, or may really want the home - even if they have to wait a while. In WI, the standard offer to purchase has a place to put an expiry date. IN MN, it doesn't. I would put a timeframe in offers on REOs, and have even done so on short sales (although those allow more time...). In MN, I have to write these in. If there are comps that support a price 20-30% low, then definitely go for it! The worst that can happen is a rejected offer, and you may get a counter, or even an acceptance! Best of luck! ... more
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Thu Jul 8, 2010
Rachelle answered:
Yes. But, that is a lot of money to put down in this market. With prices still falling. Can you wait till Fall to buy. Fewer buyers equal lower prices. What about income property as a hedge against falling prices. 2, 3, maybe 4 units.
Take your time, invest wisely. You are trying to build wealth.
... more
0 votes 4 answers Share Flag
Wed May 4, 2016
M.D.J answered:
If you want another alternative to a 203k then feel free to contact me. I offer a conventional purchase loan with additional funds over and above the sale price for repairs and rennovations.

Or if you decide to go with the 203k then I can show you how to lower the payments after repairs.

Good luck to you.
... more
0 votes 17 answers Share Flag
Wed Jan 12, 2011
Dyanna answered:
Hello Bruce.
I am a great agent that specializes in short sales and foreclosures, as a matter of fact I was published in the Press-Telegram, Learning to Follow the Steps of Foreclosure. If you e-mail me, I will send you the article and let you decide who is best for you. My e-mail address is dyannaavila@hotmail.com

Dyanna
... more
0 votes 6 answers Share Flag
Thu Jan 29, 2009
Dyanna answered:
Hello Bruce. In dealing with short sales and REO's you have to make sure you are being serviced by a real estate agent that KNOWS and UNDERSTANDS short sales and REO's. This property was a short sale, it never went back to the bank or in other words there was no trustee sale. There might have been a NOTICE OF DEFAULT placed against the property,but the bank never took back the property ( this is what the profile shows). When you have a home for sale and it is a short sale, even if there is a pending Trustee Sale date approaching, many banks will postpone that date to work with the offer that has been presented to them. This postponment does not reflect anywhere, but it does exist. Short sales are wonderful if you have someone that can navigate you through them. I have an article in the Press-Telegram that I wrote regarding foreclosures. It is a really good article and explains short sales and REO's very well. Please look it up in the Press-Telegram, under Dyanna Avila, LEARNING TO FOLLOW THE STEPS OF FORECLOSURE. If you have any other questions I would be happy to help.

Dyanna
dyannaavila@hotmail.com
... more
0 votes 3 answers Share Flag
Tue Aug 11, 2015
Daniel Jeung answered:
G,

Is this a question, or are you just making a comment about the current market in Woodland Hills? Given your scenario above, I would agree that it makes sense to rent the townhome in your example. My only condition to that answer would be: If that particular townhome is where you want to live. An analogy: If you want to buy and drive a Mercedes, but you can lease it for less, great! But don't end up leasing a Ford (or whatever car) if what you want is the Mercedes. The bottom line is that you shouldn't SETTLE for living somewhere you don't want just because it cost less (and you can comfortably afford something else).

-Daniel
... more
0 votes 15 answers Share Flag
Fri Jun 13, 2008
Mitchell Simmer answered:
Comparable sales prices of short sales and foreclosures are still true prices and should be examined by both buyers and sellers. The difficult part is in making the necessary adjustments when comparing them to the rest of the homes. Whether or not sellers want to accept it, the fact remains that they are in competition with every home on the market. Buyers will determine whether the difficulty in bringing a short sale or foreclosure sale to close, and the costs and time involved in bringing that property up to the same condition is worth the price differential. ... more
0 votes 2 answers Share Flag
Sat Apr 9, 2011
Gary Krieger answered:
Buyers should work with a qualified real estate agent to help them make sense of the market. The scenario you've just described could be the result of seller's chasing the market down in a declining marketplace. Often, recently, sellers did not want to make bold price reductions to match the reality of the market. As a result, they would often reduce the price of their property by only small amounts. But, every time they made a small reduction, it was too little, too late. So, they chased the market down again. Regarding the changing status in the MLS, agents are required to change status on their lisings within defined limits. If status is stated incorrectly after, for instance, a 3 day window, the agent can be fined for a violation of MLS rules. I am not suggesting that incorrect information is not sometimes reflected, but overall, the rules are in existence to keep all agents working on a level playing field. Given the recent lending debacle, it is apparent to anyone in the business that properties change from active status to pending status and often back to active again. This is often because the lending guidelines change and a buyer who presents a pre-approved letter from a lender is later deemed unqualified by that lender. Many other issues cause a deal to fall apart and result in the change from Pending back to active. Also, many agents will as a matter of course, change a listing from active to backup offer. They think that will bring more potential buyers to the table while the property is pending. However, most agents will not show backup offer properties because they don't want their clients to fall in love with a property that may not become available again. Finally, one way to filter the sale prices shown is to check with the title company. Your realtor can do that for you. This is an interesting cycle in the market now and it requires both caution and diligence. Be certain that your agent has your best interest at heart, and you should get all the details you need to make intelligent decisions from your agent. ... more
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