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Erik Samaniego's Advice

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Erik Samaniego wrote:

Should I refinance from a 30-yr fixed to an ARM?

Answer
To start, when saying "I'd like to move in...." versus actually setting a definite course to move, this in itself would be a large difference. By all means you would need to see the numbers of what it has cost you so far with the exisiting loan cost and then your new loan costs as compared to what you are then looking at changing into for savings. Please keep in mind that it cost you something to get the loan your into now as compared to the monthly cost associated with the interest rate so each time you are looking at moving into a "new loan", more cost are then associated with such. There are a variety of easy to use calculations which are present on the Internet in checking the cost savings of going from one loan to the next. Just make sure you do your homework first and try to work off of definites.  
August 11 2011
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First time buying

Answer
Extremely important to get the mortgage process started first and your questions answered that route in order of knowing best how to handle such a transaction. In the State of California, were I both live and hold my license in real estate, the situation with it being a "community property" state holds much bearing on what can be done.To start, speak with your local bank, credit union or mortgage company in order of getting your loan questions answered first. Once that is done, then move onto looking for a real estate agent to work on finding you this new possible home.
June 17 2011
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are we in the bottom of the housing recession yet?

Answer
As in all areas, the housing market is a "local" defined happening within a specific location, city, town, county, etc. Very true about situations presently giving us a lower market footprint of foreclosed upon properties. However, at the same time this is simply due to many major lenders, banks or investors being told to once again examine their processes towards such clients. What is going to happen as more and more properties are kept OFF the market for an extra length of time, will be to extend the true reality of the market coming to terms with itself. Finding a bottom is directly a local happening based on several issues just as the one mentioned above.
June 17 2011
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how do I get the value of my home?

Answer
This would all depend on your reason for needing such a valuation. Are you looking to find out a value for perhaps total assets owned? Are you looking to find out value for taking out a mortgage on your home? Are you just curious and need an "estimate"?The first two can be obtained with a professional appraiser doing such work in your area. The third one can be done easily through the Zillow site.If you are looking to sell your home, then look for well qualified and professional Realtors in your area to simply interview with them on what can be done. Their job is to "sell" your home so interview them for the job needed. The point of Realtor"s" is made since you need to feel secure with the choice of choosing such a person to handle best the selling of your home.  
June 17 2011
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Is it ok to use two seperate real estate agents when searching for a home?

Answer
Hello,To mention the use of "any" two professionals in working on the same job is not good. Case in point, you come down with an ailment were medical advice is needed. Do you choose two doctors?In this simple example you would not, however, if you feel as though the first doctor is not doing what is needed, you will easily discuss your concerns with this doctor so your concerns are addressed. If nothing still does not change with their "bed side manner", you will find one that does work as a true professional.Best of luck in bringing up your concerns with your present Realtor since as a true professional, he or she will do what is asked of them concerning your real estate needs.
June 17 2011
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Looking for a little advice

Answer
In regards to your question, one of the main points raised is that of both your credit score movement and market deals perhaps being missed. In around a year or so as you mentioned, you have worked on your credit situation and that work has so moved it in a positive direction by roughly 70 points. When speaking of "miss the smoking deals that are around right now", that needs to be seen in your specific area closely. The reason this is raised is due to the very LARGE amount of properties still needing to "come to market" for sale. So please couple the extreme benefit that you will obtain with improving your credit score even more which will happen in due course with correction and time along with the simple fact that "smoking deals" are not going away any time soon.  
June 17 2011
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finding du/tri/quad plexes houses in South OC SoCal area

Answer
Hello Scubacuda, sorry for missing your question just the other day. Please let me know if for any reason you have not been able to find a very good assortment of information concerning your question asked. If not, a VERY large grouping of properties that will fit your needs can easily be sent your way for review. As a Broker here in Southern California working within the Los Angeles County area, your needed information can be sent your way very quickly if still needed. Thanks much!
June 14 2011
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looking to find out who owns a property

Answer
In regards to your question raised for needing to know who owns a specific property, as mentioned, information such as this will be ALL public information. This information should be available at a location where such information is kept for use by any public agency. Here in Southern California, such information is kept at the local County Recorders Office for use at all times by anyone so needing to seek this information. The main point of your answer is that this information should be all that of public information and so available to all IF I am not mistaken throughout all areas. To start, commence your search with visiting your main local county building and or visit such locations on their Internet sites.
June 14 2011
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