Profile picture for Sameer Punjani

Sameer Punjani

Agent

3 Recent Sales (last 12 months)

Broker / Owner, CA Dept of Real Estate (12 years experience)

Specialties:
Buyer's Agent,
Listing Agent,
Foreclosure,
Short-Sale

Advice

  • (36 Contributions,
  • 0 Best Answers,
  • 9 Helpful)

Contributions are sorted newest to oldest.

Don't Let the Media Scare You!!!

Response

I don't agree either its best time to buy.  Face reality, no jobs equal no buying. Renters won't jump in the market until they know prices start to move up a bit. Doesnt make sense to buy now.But we will see what happens in the next 5 years. 

  (0)
BP Oil Spill

Response

Not me, but wish you luck in your claim. I stopped filling up at Arco and telling everyone I know as well.Good LuckSameer

  (0)
My income has been reduced by half since approval of my HAMP .

Answer

Yeah, your other option is just short sale, or let it foreclose and stay as long as you can in the property.  Maybe they can offer you like a cash for keys program and collect up to $5,000.Each lender is different though.  Either way, like others are saying start thinking bout a short sale, or get someone to help you make the payment.It does suck you may lose your house after all the tons of paperwork you had to send to them just to even make it work. I'm sure you waited for months, now this.  Main thing is just be stress free, if it takes getting rid of your home where you have to live in apt for the time being then do it. At least you can come home knowing your rent is paid on time and nobody going to kick you out right.Good Luck.

  (0)
I am renting a house, should I use a realtor to manage the property?

Answer

it depends, if you find a good tenant with good income and good credit, you probably wont have a problem. But if you think u might encounter some issues, then a property manager would be easier to handle all the legal stuff. But its usually a 10% fee of the rent is the PM fee, and then an upfront fee to start.good luck bro.

  (0)
How soon can I buy a home after a foreclosure?

Answer

Its usually 3 years, check the fannie mae guidelines.  But I wouldnt buy anything now anyways. You just went through a foreclosure, why not build a huge cash reserve, and sit on for it at last 5 years. Cause it will take another 3 years before this market starts to make a come back, then you can probably wait another 2 years before jumping in.Good Luck.

  (0)
Should I refinace now?

Answer

It depends on the rate with your equity loan. right now rates for the 30's are probably running in the mid 4s. If you can afford to pay a 15 year mortgage, im sure you can get a crazy deal on a 15 year product, then pay ure loan off in 15 years.It depends though on your reserves and income levels.  If you can lock into a 15 year at like 4.25% thats a good rate to lock in your money, then what you can do is try to find an investment property, for example you can pick up some condos out there for 40-50K and get returns in the teens. Use that positive cash flow to pay down your mortgage faster.Its basic rules, borrow cheap, and earn max what u invest in. just like the banks do when u have your money in savings.Take Care and good luck.

  (0)
Why nobody wants to buy a house

Response

He's right, until the media starts to report an upswing in housing prices and job growth, people will hold off on buying. They are scared they will lose their jobs if they buy. Its a wait and see right now, its a good thing cause once everything i guess is back to normal, there will be a flood of buying to drive back up demand. I think it will be in 2012 before we see any kind of upswing.

  (0)
Is now a good time to buy?

Response

Not really. Home prices will continue to fall. The only advantage to buy now is the interest rates are so low. But it only matters if you are putting 20% or more down. The FHA rates will also start to creep up as well. 

  (0)
comps

Answer

I dont get it. Bump.

  (0)