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Home Buying in Yucaipa : Real Estate Advice

  • All80
  • Local Info1
  • Home Buying20
  • Home Selling4
  • Market Conditions8

Activity 15
Thu Aug 7, 2014
Garrigus Real Estate answered:
Require to speak with a supervisor, it tends to help get things pushed through a little better. Good Luck!
0 votes 1 answer Share Flag
Thu Apr 28, 2016
Ron Thomas answered:
It sounds like a silly question; of course they should do a good job.
It sounds like the "instructions" said; "remove dry rot wood" and that's exactly what they did, nothing more, nothing less.

If I were your Realtor, I would not make a federal case out of it; if they are that shoddy in their work, I would hate to see their finished product.
The wood covering the facia is cheap and easy to install; if you complain, you may get cheaper wood, gaps, bent nails, no primer, cheap paint, etc.

Maybe its a PRINCIPLE with you; I would understand.
I would rather finish it myself; but then, that's me.

Good luck and may God bless
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Tue Jun 25, 2013
Darrell D. Drouillard answered:
Terry, I'm not sure if you are talking about your local market or you are relocating to another area you are interested in. I will tell you that some markets nationwide are stil trending downward, some are relatively stable and some are actually starting to increase in price point.

In my local area, some parts of San Antonio are overwhelmed with sellers and this flooding of the market has dragged home prices down. However, there are numerous areas that have increased in marketability and price point. As an average, the market seems relatively stable in my area. However, based on variances, seek a real estate professional in the area you desire information to get market information specific to that area since variances in cities exist.
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Fri Aug 24, 2012
There is nothing in Maine or anywhere else that I am aware of that prohibits a seller from carrying back financing. Research the subject in depth before jumping in. It is probably not what you expect. In this type of transaction the underlying assumption is the seller will be able to perform in addition to the buyer. That is a very big what if, sellers are not subject to the same federal regulation as banks, do you really know the seller well enough to give them your hard earned money? I have discussed this in the blog entry linked below about lease options or other seller provided financing. Other entries in my blog will also shed some light on the subject. Most of the sellers interested in entertaining one of these transactions will already owe money against the property so they will not (should not) want to record any contact that might trigger the due-on-sale clause in their mortgage. Unrecorded contracts are difficult to protect should something happen to the seller, divorce, illness, death just to mention a few.

I hope my observations keep you away from harm, good luck.
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Wed May 23, 2012
Tovar answered:
Yup, but this is a Financial Investment loan.. We have to know how much the Cap rate is to determine how much you need to put down.. A typical investment Non Occupant loan is 20% down.. ... more
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Sun May 17, 2015
Jenn Z answered:
To elaborate, I am a home owned that the bank would not refinance after I was put into one of those neg loans. I am now short sailing my home and want to find another home for my family but can not get a loan at this time and want to find an investor that would be willing to do a lease option in Yucaipa area for a 4-5 bed home and I am looking for one under 175,000. Does anyone have advise on how I can find an investor for the rent to own process? ... more
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Thu Aug 7, 2014
Myriam F Nader-Salomon answered:
Hi Betty, Usually if it is for sale by the owner there is a sign posted somewhere in the land . If not then contact a Realtor in your area with the address and she/he would be able to assist you. Hope this helps. Good luck!
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0 votes 11 answers Share Flag
Tue Sep 22, 2009
Micki O'Toole answered:
Dear Hopefullysoon,

Some banks are quicker than others to respond...If the agent said you were highest and best and no other offers were submitted, than I would think you should hear back today or by Tuesday (since Monday is a hoiiday) Heck, by the time you read this you may have already heard.

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Tue May 18, 2010
Steven Ornellas answered:
Megan, normally, cities have a permit database that can be easily acccessed by anyone.

You also may want to consider a more important issue:

There are two different valuations that come into play when we talk about these situations. The first is the value placed on such a property by current market demand. The other valuation comes from a licensed appraiser. Given the uncertainty of unpermitted work, an appraiser will not be able to place any value on such work.

For example, say a Buyer places a $500K offer on a home that has $50K in unpermitted remodeling. In this simple case the appraiser would assign a $450K value, which would require the Buyer to come to the escrow table with an additional $50K as the lender would only provide financing on the appraised value of $450K. Another issue is that of safety. Do you really know that the work was done properly? In short, buying a home with unpermitted remodeling is gambling with your financial and personal safety.

Best Regards, Steve
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0 votes 4 answers Share Flag
Sat Jun 6, 2009
Shel-lee Davis answered:

There are a number of "tricks of the trade" when bidding on REOs. Make sure you are working with a buyer's agent that knows the "game' and has a good working relationship with local REO listing agents. Then follow some of these guidelines.
1. If you are only looking at highly desireable properties (clean, minimal repairs, great neighborhood) then competition will be steep. Write a really clean offer, which means, don't ask for too much and agree to close quickly. And make sure your purchase price is based on market information, not listing price. Sometime, lenders price low to fuel a bidding war and the home will sell for over asking price.
2. If you want a great neighborhood, look for the ugly duckling, the property that does not show well but has potential. Then bring out the potential once you own it. Everyone wants the swan, see 1. above.
3. If you want a great property look on the fringes of good neighborhoods, not in them. Again, see 1 above.
4. If you can, get pre-approved (not pre-qualified) with a direct lender. This carries a lot of weight in these uncertain times when only about 50% of all loans are actually closing. You don't have to use them, just have them as backup and present both letters.
5. Get your lender to issue a pre-approval, not a pre-qual. Pre-qual are usually not worth the paper they are written on.

Let me know if you have more questions. Your home is out there waiting for you. Dare to Dream.

Shel-lee Davis
Real Estate Consultant
RE/MAX Palos Verdes Realty
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Sat Sep 22, 2012
Tonje Kearney answered:
A seller, bank or real person, has a right to choose which offer, if any to accept. So yes, it is legal and it is not discrimination.
0 votes 7 answers Share Flag
Tue Feb 3, 2009
Tonje Kearney answered:
An offer should never be verbal, it is not a valid offer. However it is common for banks to come back asking for "highest and best" , even in situations where there is only one offer on the table. ... more
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Tue Jun 3, 2008
Artur Urbanski answered:

The best chance for successful completion of the transaction you have by paying for the roof inspection. Obviously, seller is not in a position to do so. It should not be expensive and can be done quickly. ... more
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Tue May 6, 2008
Ramon Vega answered:
Hi Mike,
Even when you are confortable and in a good renting situation is up to you to think about where your rent money is going and whose profit becomes. Yes, you are paying for a service. But would not it be nicer to put your money to work for you? When you invest in a home it becomes a permanent investment that in a long term period will give you cash return. There has not been a better time to buy than ... now. Next time you write a check to your landord think about investing in a home of your own, a mortgage payment that will give you tax advantages and a better tax return. The market is active and as usual, through american economic history there has always been fluctuations in market trends. It is evident we are facing economic difficulties but this will be overcome. Sincerely, Ramon ... more
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Wed Feb 11, 2009
Cindy Olivera answered:
Hi Mike,

I am also moving to Yucaipa from the Central Coast area, one person who has helped me the most is my real estate agent, Michelle Brittingham with Elite Realty. She has lived in the area most of her life and has seen the markets highs and lows. I've found her to be ethical, honest, and well respected amongst her peers. She truly cares about me as a client and listens to what I want. She will tell you honestly if this is the right move for you.

Give her call I guarantee you won't be disappointed.

Good luck.
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