Real Estate

For more information about this property, please contact First Team Real Estate at 866-938-5812.
View all our videos at http://www.youtube.com/FirstTeamProperties
Company website http://www.firstteam.com
MLS ID: S586459

BACK ON MARKET!!! Really cute 2 bedroom PLUS large loft. Private end unit location overlooking trees. Soaring ceilings and lots of windows fill the home with sunshine! Kitchen opens to Living/Dining area, complete with fireplace & 2nd balcony, creating a great area for entertaining. Inside laundry can accomaodate full size w/d. Large loft w/media niche could easily be converted to 3rd bedroom or used as office/den. Tons of storage space & newer paint. Located in top rated Tustin Ranch Schools. Steps to association amenities and walking distance to shopping, dining and theatres. Low Mello Roos and HOA fees! A charming 1st home or a great investment opportunity.

Duration : 0:2:53

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My husband & I have to sell our first house (we already own our new home) . We have been trying to sell this house since the first of the year, we have tried a short sale, rent to own, even just rent, to get out from under two mortgage payments. However, after two years of trying my husband & I just found out we are expecting! Now, we have to let this other house go back to the bank, as there is no other options. All the realestate agents in my area are telling me that sales are down 32 percent from this time last year. I have contacted my lender & told them of my situation, theyre sending me a short sale package, as well as a deed in lieu package. My question is, is there any reason the bank wouldn’t accept a deed in lieu? I have no other liens on the property & it is very comparable to the neighborhood. If not, will they have to abide by MO foreclosure laws since that is where the house is lcoated? MO laws – no defficiency judgements are prohibbited (I won’t owe the difference)

Keep in mind that a short sale and a deed in lieu are two totally different approaches to avoiding foreclosure. I will do my best to explain both sides in some depth.

With a deed in lieu, whether in a state that allows deficiency or not, a lender WILL NOT pursue deficiency. That is the upside to a deed in lieu. However, you will have a "voluntary foreclosure" on your credit report. This can keep you from purchasing a new home for at least two years in most cases. It will effect your credit negatively but they will NOT pursue deficiency regardless of the state.

With a short sale the lender is accepting, from an end buyer, less than what you owe. They can pursue deficiency in states where deficiency judgement is allowed. Now not all lenders will pursue a deficiency and it is very possible to have the lender sign a deficiency waiver if the short sale is submitted correctly. It is still ultimately up to the lender. Now I have done some research and also worked with some clients in MO and it is my understanding that deficiency IS ALLOWED. Please research this and make sure you have all information on your state laws before making a final decision.

However, you will not receive a credit beating because this is actually a sale of your property and therefore a settlement of your debt.

Now on the back side of this the lender can issue a 1099 "Forgiveness of Debt" for the difference. For example, if you have a buyer for $150k and you owe $175k and the lender approves this short sale than they can issue a 1099 for the amount of $25k.

There are particular ways of reporting this and it is possible you will only owe tax on the part of the $25k or owe no tax at all. However, it is highly recommended you seek the advice of an accountant and explain to him the reasoning for the 1099 and that it is coming from a property.

Now the other snafu you may run into here is that part of the $25k could be picked up as proceeds on sale of your "personal residence" and you would then be exempt if there were a gain caused by the sales price and the portion being picked up from the 1099 (if any). You will however, need to pass the personal residency test.

Considering that I don’t know all the particulars surrounding your circumstance that is the most general description I can give you. Remember to seek the help of a CPA when filing your taxes if you receive a 1099 "Forgiveness of Debt" from your lender.

Newbie with no credit card balances and confused during home loan process-first time home owner age mid 50s married with independent business for over 30 years-many commercial and realestate loans involved with the business. Seems the fico is saying I am a bad risk but not sure if I am reading the right numbers. Teh comments all refer to not having any revolving credit and I believe the commercial loans we have. Would seem that a net worth over 1 mil and a d to a under .3 would not be bad.

The bank letter is not the same as a credit report. TransUnion, Experian and Equifax are the credit reporting do-gooders who can provide your credit reports, for free, once a year. You can find them online and your credit report is available online too, again, for free. TransUnion is a good starting point, then Experian.

If you sign up for a PayPal Visa credit card, your general credit score is available for your checking every day, for free. It is an easy way to stay on top of it, again for free.

For more information about this property, please contact First Team Real Estate at 866-938-5812.
View all our videos at http://www.youtube.com/FirstTeamProperties
Company website http://www.firstteam.com
MLS ID: S592006

APPROVED!APPROVED! APPROVED! Fantastic price for the largest floor plan in Presidio! 4 bedroom & 2.5 Baths! Beautiful private backyard with patio and water fountain, Wood floors. Spacious master suite with tiered ceiling, walk-in closet and ceiling fans. Gourmet kitchen with beautiful granite, Viking stove top, gorgeous oversize stainless sink, upgraded faucet, plenty of storage ! Short walk to association pool and spa. Fantastic school system; local elementary school is a Blue Ribbon School and middle school is California Distinguished. Perfect home in a great neighborhood. Beautiful parks nearby.

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I was thinking of going one of two ways.

1)Since realestate values are not on the rise I was thinking about moving into an all black neighborhood to save some money for a year or two and then buy a house just before the market bounces back.

2) Or I was thinking about just buying a house now at a low price and expect that its value will not increase for couple of years. what option is better 1 or 2?
Melby, I can tell that you are not from the Detroit area. I have lived in neighborhoods that you would not even dream of living in. So save your PC B.S. for yourself.

I lived in an all black neighborhood for 2 years. I was the only white person and I tried to set a good example for the neighborhood kids. When I would leave for work in the morning I would roll nickels down the street and all the black kids would chase after them. On Saturdays I would let them give me a shoe shine even when my shoes were already shined like mirrors ( I would average 5-7 shines every Sat). It taught them responsibility and the value of earning an honest dollar. They also called me Mr. Drummond, a sign of respect (after the TV show Diff’rent Strokes).

What I would pay for a monthy RENT or how much the house actually cost (which probably would be too good to be true).

http://realestate.yahoo.com/California/Orange/Homes_for_sale/1e44671ef0bb81c897413553cefe31e1;_ylt=ArB2QXAuGCAD7QCJLSl0th_nMrQs?cc=realestate&p=Orange,%20CA&priceHigh=370000&priceLow=0&nodeId=750007014&sortBy=price%202&radius=&bedrooms=&bathrooms=&type=classified&b=51&redir=1

I was searching for homes for sale (not rent) and this is one of the listings that came up. Can someone please help me understand…

I think someone entered the data wrong into the database. They probably left off 2 zeros (thinking they were "cents"). $350,000 is probably the actual price.

As for the rest of the web page — that is all automatic HTML or PHP code that calculates the rest of the (very low) numbers.

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For more information about this property, please contact First Team Real Estate at 866-938-5812.
View all our videos at http://www.youtube.com/FirstTeamProperties
Company website http://www.firstteam.com
MLS ID: S602169

Mountain, City Light & Pool views from this beautiful plan (B). European cabinetry, rich cherry wood floors, floor-to-ceiling windows, marble & granite baths, stainless steel appliances and custom lighting throughout. The ultimate in sophisticated urban living, the Marquee at Park Place. 24-hour Concierge, barbeque area, billiards room, meeting room, 24-Hour closed-circuit camera building surveillance. Extensive outdoor landscaping and lobby entrance. Pool, spa, fitness center and men’s and women’s change rooms.

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we are moving overseas. it’s a older house but has been all freshly painted, lino/ floor polished. established garden
[1] do you use a realestate?
[2] if you use a private contract how do you deal with the problems you may have?
[3]how do you get the tennant to water and care for garden?
[4] how often can realestate come and check it?
[5] what are my responsibilities to the tennant?
[6] if it’s looking as good as it every will, why not try and sell it?
[7] can you sell in a real short time like 6 weeks??

If you want to live in this house again, say when the overseas assignment is done in a year or two, rent it out. If you plan on never coming back to this area, I think it would be easier on you to sell it.

1. You will have to use a property management firm because you won’t be anywhere near it. When a tenant needs a plumber at 2am, they need someone to call that can do something.

2. You need a lease and strict rules. Don’t break your rules for anyone. Don’t listen to sob stories. Check your renter’s references and credit.

3. Hire a lawn company to look after the lawn and garden. Or have the renter put down a larger damage deposit and tell them it includes damages to the garden.

4. Outside, they can cruise by pretty often. As a tenant anything even approaching once a month to come in would feel like an intrusion.

5. Everything in working order. Quick responses to concerns and issues. A safe place to stay (not crime safe, safe from house issues like leaks and faulty furnaces, etc.).

6. Yes, if you don’t plan on coming back, sell.

7. You can, but only if priced right. Our real estate market sells ~25% of it’s listings in the first 2-4 weeks. If it’s priced right it will go in a heartbeat.

good luck!

For more information about this property, please contact First Team Real Estate at 866-938-5812.
View all our videos at http://www.youtube.com/FirstTeamProperties
Company website http://www.firstteam.com
MLS ID: P724554

GREAT OPPORTUNITY to own a 4 bed/2 bath home in a cul-de-sac location. Located on a quiet neighborhood and close to El Modena High School and shopping center. Relax by the fireplace in the living room. Entertain in the covered patio with enclosed block wall fencing. Priced to sell fast!

Duration : 0:5:13

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How long should you prepare for the CA real estate exam? I understand it is very difficult to pass on the first try. Any suggestions?

Take the test seriously. Use all the study materials that come with the text; the practice exams etc. Get all the practice exams you can find. Buy the state exam practice guide too. Thats how you pass the first time. If you’re working and trying to study it may be hard but still possible. Use all of your available time to study. When you feel confident go for the test. Take your time and read the questions completely. Good luck.