If a room doesn't have a closet, I would consider it an office or a den. If it has a closet it is a bedroom. However, on the MLS here in Sacramento, agents often mark a den of office as a bedroom.
The Chief Econoist of the California Association of Realtors believes we will see very moderate growth in 2012. However, the market in each area is different, so what holds true for one city may not be true for the next. In California, we will probably see growth come sooner in the coastal areas, whereas the inland areas may take a little longer to rebound.
Just for future reference for other buyers who may read your post, it's a good idea to get a good faith estimate from the lender upfront. When it comes time to close, by law their final numbers must be very close to the original estimate. Also, having a good faith estimate makes it easier to compare lenders rates when it comes to shopping for a mortgage. Best of luck in your new home purchase!
You should contact a real estate agent and ask for a comparative market analysis. Give the agent the address of the subject property and a little information regarding the home, such as upgrades and general condition of the home. They can pull the comparable properties nearby and see how much the home may be worth.
Most lenders will want to see a credit score of about at least 640. If you have negative items on your credit report, work with either a good loan officer or a credit repair company to get your score to improve. You may also want to speak with a direct lender, who may have a little more flexibility when it comes to issuing loans. Please thumbs up my comment.
It depends on a number of factors, but to give you a general idea, cash offers often close in under two weeks, conventional loan buyers in about 30 days. FHA and VA 45-60 days. Please thumbs up my comment.
It could be a problem putting the rebate on the HUD in California. Escrow companies and lenders don't like to see money going back to the buyer in this state. It may have to be after COE, but check with the lender and your escrow officer. Please thumbs up my comment.
I agree, this can be very confusing. If there is a way they could clearly mark NOT currently listed for sale, that would help. Please thumbs up my comment!
Are you using the Zillow Zestimate numbers? Those numbers are computer generated based on information received on comparable sales. There could have been some sort of anomaly going on that skewed the statistics. In order to get a closer representation of home value, you should probably contact a Realtor and ask for a comparative market analysis. Home values are derived from both qualitative and quantitative means, and so you need a professional in the industry to give you a real solid and more accurate number.
Securing a mortgage loan isn't as simple as it was just a few years ago. Due to stricter guidelines, there can be several factors that need to be met in order for a buyer to qualify for a loan. This is why I always suggest that buyers speak with a mortgage professional as soon as they begin to even consider purchasing a home. There may be a variety of things that need to be in place before you can qualify. For example, a buyer may need to show that they have had enough funds for down payment and closing costs in their account for a certain amount of time and must have some sort of proof as to where the money originated from, if gift funds are not acceptable per the mortgager's requirements. As I mentioned, it's always best to get all of these things aligned before you search for a home. If you don't, you may stumble upon your dream home but not have the ability to make an offer with out a lender pre-qualification!