Zillow Advice RSS: Question-Discussion-Guide,Home Buying,Sacramento- CA

What kind of a neighborhood is Westlake? Safe? Walkable? Bonnie

Mon, 16 Nov 2009 13:17:00 GMT

1 reply

I'm planning to buy a house in Staten Island, New york, does anyone know any good realtor?

Fri, 13 Nov 2009 03:14:00 GMT

1 reply

Is now a good time to buy?

Sat, 31 Jan 2009 15:14:00 GMT

I am seriously considering purchasing a home in the Sacramento area. I am not going to rush. I am already approved for 300k+ and I was figuring to make offers on foreclosures in what I would consider very nice neighborhoods. I am active duty military and would be using a VA loan. Any advice would be appreciated.

14 replies

What is the buying a house process?

Sat, 10 Oct 2009 14:31:00 GMT

I would like to buy a house from creekside,sacramento area. Should I get a pre-approved paper for looking inside of the house?

4 replies

First time home-buyer tax credit extended for troops overseas

Wed, 14 Oct 2009 21:03:00 GMT

written by Shelby Bateson:

The House of Representatives has voted to extend the popular $8000 first time home buyers tax credit to military personnel who are currently serving overseas.

There has been a lot of controversy over extending the $8000 tax credit beyond the current expiration date of November 30, 2009. While home builders, lenders, realtors, and almost anyone employed in the housing industry have been aggressively lobbying to have the bill extended, time is running out, and no decision has been made to date.

This bill will extend the $8000 tax credit until November 30, 2010 for any members of the service who has served overseas at least 90 days during 2009 and who are otherwise eligible. The credit will also be extended for Foreign Service and intelligence personnel who have been deployed overseas this year.

The bill would also prohibit the IRS from "recapturing" the $8,000 credit when service members are forced to sell or rent out their houses because they are ordered to deploy to a different duty station, overseas or inside the country.

Currently, buyers who obtain the credit must use their houses as a principal residence for 36 months or repay the credit to the IRS. This provision has caused military and Foreign Service personnel, who are moved around frequently, to hesitate to apply for the tax credit, even when they have purchased homes.

Service Members Home Ownership Tax Act (H.R. 3590), as the bill is known, is expected to pass through the Senate equally quickly and be signed into law by President Obama.

For the rest of the "would be" home owners" who are still waiting to hear if the tax credit will be extended, the battle wages on. It is a bipartisan battle with advocates and naysayers on both sides of the aisle. While almost everyone recognizes the need to stimulate the housing sector of the economy, the primary obstacle in extending the credit remains the cost.

1 reply

How to value a empty lot in an established neighborhood?

Mon, 12 Oct 2009 07:32:00 GMT

Considering placing an offer on a empty lot in established neighborhood (50's era). Prior home burned and has since been demolished. How do you come up with a valuation for this type of thing?

4 replies

what is the difference between bank owned and real estate foreclosure?

Thu, 08 Oct 2009 17:19:00 GMT

How many percent less than sales price usually we can offer ?

5 replies

how do i fix the roof of a half-plex i bought if neighbors can't or won't pay their portion?

Fri, 02 Oct 2009 01:03:00 GMT

This half-plex is a foreclosure and inspection recommended a new roof. The roof is all connected. Is it possible to fix just my side? What if I can't even contact the owners next door? Does this require 2 permits if both sides are fixed?

2 replies

How to update/correct actual last sales price of home?

Sat, 19 Sep 2009 15:31:00 GMT

Zillow shows loan amt NOT total pd for home! I paid 25% more (as down payment) than is reflected by Zillow on home info. page. This is misleading and certainly not accurate for anyone viewing current home info. Thx.

2 replies

appraisal waiver form

Sat, 19 Sep 2009 17:46:00 GMT

should i sign this form? normally, i get a copy of the appraisal report prior to closing - i think. but if i sign this, i waive this right, and instead, get the report at closing.

this is a newly built home.

any suggestions?

11 replies

I purchased a house recently. How could I delete the picture that the seller's agent posted?

Tue, 15 Sep 2009 20:44:00 GMT

I purchased a house recently. How could I delete the picture that the seller's agent posted on zillow?

1 reply

This is a bit long, sorry. We've been house hunting since May with no luck. Offers are in the double

Sat, 12 Sep 2009 05:46:00 GMT

This is a bit long, sorry. We've been house hunting since May with no luck. Offers are in the double digits. We're doing FHA but our loan is good to go, we've already got our committment letter and are just waiting for an accepted offer. We offered on a home at the end of July. For sale by owner, not REO or short sale. It took about 10 days for them to let our agent know that they were going with another offer. Last Friday, they called him and asked if we still wanted the house. If so, it was ours, provided that we signed the disclosures that day. There was a suicide on the property, and he was told that the other buyer backed out when that became known, so they wanted us to sign it before we went further. We were told we could expect to open escrow on Tuesday. No word on Tuesday, nothing until Wednesday evening. Then they say they're waiting for the other buyer to cancel? Thursday, the sellers agent calls our agent, says he "didn't realize" we were FHA, and he already has FHA offers higher than ours so why would he sell to us? Today, the truth finally comes out. They are already in escrow with another buyer, and have been for weeks. They offered $165,000, house appraised at $135,000. Sellers agent thinks with recent comp sales, it will re appraise over $150,000. He says if it does, they are sticking with the buyer in escrow. If it's below, they will move on to our loan as it's stronger in every aspect aside from price. I can't believe that it's really okay for them not to disclose to us or our agent that the home is currently in escrow. Is this common practice?

5 replies

Can a sellers agent not disclose that a home is already in escrow?

Sat, 12 Sep 2009 05:35:00 GMT

This is a bit long, sorry.

We've been house hunting since May with no luck. Offers are in the double digits. We're doing FHA but our loan is good to go, we've already got our committment letter and are just waiting for an accepted offer.

We offered on a home at the end of July. For sale by owner, not REO or short sale. It took about 10 days for them to let our agent know that they were going with another offer.

Last Friday, they called him and asked if we still wanted the house. If so, it was ours, provided that we signed the disclosures that day. There was a suicide on the property, and he was told that the other buyer backed out when that became known, so they wanted us to sign it before we went further. We were told we could expect to open escrow on Tuesday.

No word on Tuesday, nothing until Wednesday evening. Then they say they're waiting for the other buyer to cancel? Thursday, the sellers agent calls our agent, says he "didn't realize" we were FHA, and he already has FHA offers higher than ours so why would he sell to us?

Today, the truth finally comes out. They are already in escrow with another buyer, and have been for weeks. They offered $165,000, house appraised at $135,000. Sellers agent thinks with recent comp sales, it will re appraise over $150,000. He says if it does, they are sticking with the buyer in escrow. If it's below, they will move on to our loan as it's stronger in every aspect aside from price.

I can't believe that it's really okay for them not to disclose to us or our agent that the home is currently in escrow. Is this common practice?

1 reply

What can/should I do if I purchase a short sale and the owner refuses to vacate the property? Kevin

Thu, 20 Aug 2009 18:01:00 GMT

I am concerned that the owner will not leave the property once we close. He asked me to rent the house back to him for a couple of months to give him some time to find a new place. The closing is just a couple of weeks away.

11 replies

new home inspection

Sun, 12 Apr 2009 00:36:00 GMT

i would surely have a home inspections on a existing home. however, do i really need a inspection on a new home?

5 replies

Is there rule of thumb on how old my credit history should be to get pre-approved for a loan?

Fri, 28 Aug 2009 01:38:00 GMT

I started using my credit card just a few months ago and planning to buy a rental property in the greater sacramento area in the near future if possible. Also, I have over $51k saved up.

0 replies

Buy a house, rent it out, renters pay for your mortgage, whats the catch?

Wed, 26 Aug 2009 22:43:00 GMT

It seems like there are many properties you can buy and then rent them out and make money. For example Buy a $125,000 3 bed 2 bath house in Sac. Zillow says Monthly payment will be $771 with 10% down, inc. tax and ins. I could reasonably get $1100 for rent. Let's say the house is vacated once a month and I will add $50 for expenses per month. This still is a positive cash flow of $3,948. Am I missing something, whats the catch? Are people not doing this because the difficulty with a down payment?

6 replies

What is wrong with your website? I can't get house info anymore.

Wed, 05 Aug 2009 04:55:00 GMT

4 replies

What's going on with banks not releasing foreclosures?

Fri, 24 Jul 2009 15:34:00 GMT

Driving down the street, I see literally hundreds of for sale signs and new foreclosures, yet little to no homes show up for sale on the MLS listings. A month ago, through various realtor sites, there would be houses added daily. Now there are very few and all are going within a few days for over asking. How can the banks hold onto so many properties that people (investors, cash buyers) are snatching them up this way? Is there some sort of pre MLS list that my agent isn't sharing with me? Currently, I look at real estate sites, find something w/in my range, ask him about it, and hear that it already has accepted offers on it. What about all the properties with for sale signs? What are good sites for buyers? Pre MLS? Anything? Please help! I've been running around for months.

27 replies

Is the Sacramento Market nearing the bottom?

Sat, 11 Apr 2009 01:47:00 GMT

The median sales price for Sacramento county has momentarily flattened when comparing March to February. The median price for February 2009 was $167,000 and for March 2009 it stayed flat at $167,500. This could be an early sign that we have or are nearing a bottom of the market for our local area. Sales continue to stay hot with volume increasing each month for the last year, multiple offers on many properties, homes selling in a few days and sometimes going for over list price. These statistics were just released today by the Sacramento Association of Realtors (SAR). Do you think the bottom is near? Is the start of the turn around for the market? ...

[content removed by moderator for being self promotional]

3 replies