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Aileen La Bouff's Advice

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  • 35 Contributions
  • 1 Best Answers
  • 2 Helpful

Aileen La Bouff wrote:

Should I buy a condo as an investment not and delay my plane of buying SFH for myself?

Answer
Hi,It is difficult to really give you the correct advice without knowing your complete financial picture.I would suggest that you speak with an expert financial advisor to discuss this.You could call CIndy Stanford of Opes Advisors on [Removed by Zillow Moderator. Please see our Good Neighbor Policy.].  She really knows her stuff, and can very quickly let you know what your best options are.Good luck,Aileen 
September 09
(0)

Is the15 year mortgage gaining popularity among home buyers or does the 30 year reign supreme?

Answer
It depends very much on the client and their individual circumstances.Most people opt for a 30yr fixed rate while interest rates are so low, but not every buyer (or every type of property for that matter) qualify for standard programs.  Buyers should absolutely consult with an experienced mortgage professional to look over all of the available options.
August 18
(0)

should we buy a house now?

Answer
Hi,I think that my advice would be to sell and buy in the same market, otherwise you run the risk of the market getting away from you.Cupertino is pretty vibrant at the moment, so it may be helpful for you to get some market statistics from a realtor on both the selling and purchasing end - then you can see what the differential is and work out what you want to do.The comment from Lowell is also valid - talk to a lender, and see what you qualify for, and this is one more piece of information which may help you make a decision.  Interest rates are low, so your borrowing power is better than when they're higher.If you'd like help working through it, please feel free to contact me - I'm happy to help you gather some information with no obligation whatsoever.Cheers,Aileen[Phone removed by Zillow moderator. Please see our Good Neighbor Policy for information.]
June 01
(1)

buyer doesn't cancel contract

Answer
Hi,The wording of the contract dictates this. It depends which contract you're using, but one of them states that a written cancellation by seller is effective whether or not the buyer has acknowledged it, and states that the buyer's initials are only confirmation of receipt.Your agent should be able to advised based on which documentation has been used.If you don't feel that your agent can effectively advise you, you may wish to speak with their broker/manager.Good luck,Aileen
May 27
(0)

Investment - Buying a property and rent it out

Answer
Hi,Local agents cannot provide recommendations regarding property out of California, unless they are also licensed in the destination state. Our licensing is statewide, not nationwide.Taking into account your down payment and income, it should be possible for you to purchase a condo locally, provided that your credit score is good, and that you don't carry other major debt.  It is really critical that you discuss your borrowing capabilities with a lender to ensure that you're getting the latest information, and to receive a pre-approval, which is a critical part of making an offer on a property.When looking for an investment property, in my 30yrs experience I have always suggested that people should not consider anything that they would not live in themselves.  Look for a location which has not had sharp downturns in the past, and for a property that is in good repair.I'm happy to help you through this - I have managed property for most of my career, but it's a far more complicated discussion than can be properly completed on this message board.Feel free to be in touch if you wish, for a no-obligation chat.Best wishes,Aileen650-804-0522
April 20
(0)

Anyone who can get my dad a home loan with 588 credit score.

Answer
Hi Riz,You really need to talk to a good lender about what the implications might be of a low-score loan.  There's no doubt that they're available, but it might be costly.  A better answer might be to start redeeming his credit before applying, but a professional loan officer will know how to advise you.I'd suggest you talk to Cindy Stanford of Opes Advisors.  They have a financial investment and advice department, which allows them to look at all aspects of a loan, not just the 'give me money' part.  [promotion deleted by Zillow moderator. Please see our Good Neighbor Policy for posting guidelines]Trust me, I have nothing to gain by making this recommendation - I simply think she's wonderful!Good luck!Aileen La Bouff
November 05 2013
(0)

Is a RedFin Agent or Discount Broker a Good Choice for the Savings?

Answer
Hi Luke,I know I've answered your question in another place, so I won't repeat that response, but I do have something to add...If an agent is providing you with a rebate or discount, are they discounting their service as well?It's great to be frugal, but you really are in danger of getting exactly what you pay for.I agree with Tony's answer...start talking to agents, and you'll soon get a feel for who knows their stuff.Cheers,Aileen
June 21 2013
(1)

will i be getting Keys today??

Answer
Erin is right - your agent should be able to give you this information more accurately.Question 1 - What date does your contract say you will close escrow?  That's the day you get your keys.Usually, the docs are returned to the bank and reviewed to make sure that everything is signed and that there are no last-minute conditions to be met. Once this is done they will then schedule for funding of the loan. Funding means that the money is sent to the title company.  In the state of California, our 'Good Funds Law' requires that all monies arrive at title the day before Close of Escrow. So if your docs were returned Friday and reviewed today, funds 'might' be sent to escrow today, which means that it will close tomorrow. Depending on what your contract says, you should get your keys before 5pm.
April 15 2013
(0)

How common are 'rent backs'?

Response
Hi wetdawgs,The market is currently fairly active, with low inventory. Buyers are therefore a little more prepared to agree to less-conventional terms like a rent back under such market conditions.It's not uncommon for people to agree to a 30 day rentback. 60 days is a little less common. More than 60 days seldom occurs at all.There is usually a security deposit held in escrow of $1k - $5k, depending on the home. The seller usually covers the buyers holding costs (Principal, Interest, Taxes, Insurance) for the term of the rent-back. All financial arrangements are handled by the escrow company, as a part of the closing. The escrow company also holds the deposit until all parties agree upon its release.It's really not that hard to do, and not that uncommon.Please feel to call me on my cell # below, if you wish to discuss further.Aileen [deleted by Zillow moderator. Please see our Good Neighbor Policy for posting guidelines]
January 06 2013
(0)

How was your experience with a buyer with an FHA loan (Bay Area)?

Answer
Hi 'user***',FHA loans are very common now. It was true that once they were not desirable, but now they're much more mainstream.The market in some parts of the Bay Area is fairly competitive, so it's important that your agent is confident and has a good rapport with your lender. This way they can reassure the listing agent that everyone knows what they're doing, and that the transaction is as safe as any other type of financing.The seller wants to be reassured that they will get their money on time, and FHA money is the same as any other money - it just needs a little more babysitting. Having your representatives be ahead of the curve will ensure that this will happen, and everyone will be happy.So saying, however, as much as the best representation is invaluable, poor representation can be disastrous.I strongly urge you to be careful with your selection of agent and lender, and I have no doubt that you'll be fine.Best wishes,Aileen
April 06 2012
(0)
 
 
 
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