Home Buying Tips for First Time Buyers
Home Buying Tips for First Time Buyers in Imperial Valley by Frederic Din, REALTOR(R)
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Bank Owned, Foreclosure, Home buying, Imperial Valley, REO, Real Estate
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Senate Gives Homebuyers Another Three Months
(Reuters) - The Senate voted on Wednesday to give homebuyers another three months to settle on their home purchase contracts.
The Senate, with a vote of 60-37, accepted an amendment by Democratic Leader Harry Reid that extends the closing deadline to September 30 for buyers who met the April 30 deadline to have a signed contract.
The current deadline requires buyers to close by June 30 to get the $8,000 tax credit for first-time homebuyers. Existing homeowners buying a new primary residence are eligible for a $6,500 credit.
Reid offered the measure as an amendment to a bill that would extend some popular business tax breaks and extend unemployment insurance benefits for jobless workers.
The proposal would not have a significant impact on future home sales as the extension would be only for home buyers who already had a contract in hand by April 30.
The popularity of the tax credit has caused some anxiety because settlement offices are inundated with buyers trying to close on transactions by the end of this month to get the tax break.
(Reporting by Donna Smith; Editing by John O’Callaghan)
Bank Owned, California Foreclosure, Foreclosure, REO, Real Estate
Five Luxury Homes over $500,000 in Imperial Valley
Five Imperial Valley real estate listings over $500,000 and under $1,000,000 by Frederic Din, REALTOR(r)
Luxury homes in Imperial Valley exist and through the downturn in the housing market has affected all price ranges, this high-end segment has taken a lower hit than most other ranges. There are a still a handful of luxury home listings available over $500,000, those listings I call The Five over Five Hundred.
What do all of the listings have in common other than their lofty listing prices? Size, land and amenities! All of the homes listed come with plenty of living space, with the smallest of the group coming in at just around 3,000 square feet, while the largest of the five comes in at just over 5,000 sf of luxurious living. We’ll discuss each of these home step by step below. Come with me and be whisked away to the lifestyle of Imperial Valley’s finest residential properties.
In order to remain fair, I will discuss them in order of most recently listed to oldest listing.
Active as of May 19, 2010 
1. List price $649,900. The first listing comes to us from El Centro CA 92243 and is located at 751 Tumbleweed Ln, which boasts an almost country atmosphere with city of El Centro amenities. This lovely two story custom built home on just over an acre of land is located west of El Centro just south of Main Street. At only twelve years old this 3,454 sf home features four bedrooms and three and half bathrooms. Granite counter tops, custom designed kitchen cabinetry, stainless steel appliances, built-in beverage refrigerators and more make this a grand kitchen. Guest cottage, beautiful swimming pool, light grounds and plenty of parking for your RV and other recreational toys makes this a great property for those seeking privacy with city living. View Pictures Here. Want to make this home yours? Call me to arrange a private tour. We need at least 24 hours before access so we can plan on seeing this great home. Buyer must be qualified at sales price to view, per sellers request.
Active as of April 16, 2010 
2. List price $549,000. The second listing also comes from El Centro located south of El Centro in the desirable McCabe area is 188 W McCabe Rd, El Centro. This custom built home boasts 3,103 sf on 1.25 acres of country living and features 5 bedrooms and 2 1/2 bathrooms. Built in 1977, this lovely two story home features all of the amenities you could need in a custom home with plenty of potential to make this unique home yours. Three car garage, 4,000sf metal building, covered patios, wrought iron entry gate and drive, three fireplaces, one each in the family room, living room and master bedroom. Custom cabinetry, upgraded kitchen appliances and plently of built-ins make this custom home super cozy too. View Pictures Here. Want to make this home yours? Call me to arrange a private tour. We need at least 24 hours before access so we can plan on seeing this great home. Buyer must be qualified at sales price to view, per sellers request.
Active as of February 5, 2010 
3. List price $610,000. The third listing comes to us from El Centro and is located at 2900 Lenrey Ct in the ultra-luxurious Renaissance subdivision. This newly built custom home is the smallest of the Five over Five Hundred but still comes in with 2,980 sf of brand new luxury living space in a two story footprint on an 8,900sf (.204acre) lot. Custom hardwood floors, baseboard crown molding, spa tub with fireplace, granite vanity tops, plush carpeting and a custom gourmet kitchen round out some of the glorious amenities this home has to offer. RV parking and hook ups, large culdesac location, custom front and rear landscaping, large covered patio and three car garage make this a true professional or executive home in an exclusive area of El Centro. Want to make this home yours? Call me to arrange a private tour. We need at least 24 hours before access so we can plan on seeing this great home. Buyer must be qualified at sales price to view, per sellers request.
Active as of April 22, 2009 
4. List price $998,000. The fourth listing of the five is the most expensive and for good reason, this home is simply spectacular and amazing. While this home is the most expensive its also the largest at 5,072sf of true custom luxury on a .57acre lot in the heart of the Golden Triangle area of Brawley’s prestigious westside at 200 Andrita Place. This is a home that should not be missed!
No detail overlooked or missed on this one. Stunning imported Teak wood flooring from Bali is found throughout the home with five bedrooms and five and half bathrooms, each bedroom is a master suite. Private gym, office, live-in maids quarters, amazing backyard with pool, patio and yard area for entertaining make this the perfect home for executives and professionals who want to make a statement. Custom kitchen, wet bar, granite counters, skylights, two fireplaces are some of the amenities with many more that any discerning home buyer must see on their own to appreciate. View Pictures Here. Want to make this home yours? Call me to arrange a private tour. We need at least 24 hours before access so we can plan on seeing this great home. Buyer must be qualified at sales price to view, per sellers request.
Active as of April 10, 2008 
5. List price $574,000. The last of the five over five hundred thousand comes to us from Brawley’s prestigious westside at 591 S Western Ave. This two story custom built home features 3,483 sf on nearly 1/2 acre lot. This home is truly one of a kind from its Hacienda Stye architecture with two fireplaces, classic living room, arched picture windows, exposed beams in the dining room, charming breakfast nook, brick patio, loft space and detached storage space with loads of potential for the right buyer who sees the beauty in this 45 year old home. View Pictures Here. Want to make this home yours? Call me to arrange a private tour. We need at least 24 hours before access so we can plan on seeing this great home. Buyer must be qualified at sales price to view, per sellers request.
All of these homes are truly spectacular in their own right and each home is a custom dwelling, meaning these homes are not cookie cutter properties. All properties boast at least a half acre with the exception of the Renaissance home which is located in a luxury home housing development.
If you find yourself relocating to the Imperial Valley or if you are in a position to make a statement by purchasing one of these fine luxury properties, contact me to help you find the best way to make ones of these homes yours.
Frederic Din, REALTOR(r) #01274420 represents Exit Stepping Stone Realty and is here to help you as your buyers agent working for your best interest.
Listing courtesy as follows, 1) Courtesy James Barker, Real Estate eBroker, 2) Courtesy Darren Smith, SmithKandal, 3) Courtesy Mary Salazar, Valle del Sol Realty, 4) Courtesy Amy Hannon, Rio Vista Realty & Investment, 5) Courtesy Heather Jiggins, SmithKandal
Time to Buy a Home Imperial Valley real estate
Simple blog post today: Low mortgage interest rates and low Imperial Valley real estate prices make it a great time to buy a home anywhere in the Imperial Valley. That’s right, low interest rates and low real estate prices in El Centro, Imperial, Brawley, Calexico, Heber, Holtville and surrounding Imperial Valley cities make it a great time to buy a home in the Imperial Valley. Make your offer strong and don’t be too low on price since you may lose out on the home of a lifetime.
Three Must Haves When Making an Offer in Todays Real Estate Market
Three Must Haves When Making an Offer to buy real estate in today’s Imperial Valley housing market
Face it, everyone wants a deal and I can tell you first hand there are some great deals with incredible value out there, however the banks that own the bank owned and foreclosure homes are NOT going to give their properties away. Whether you know what you’re looking for or need help in finding the right property, you can still get a great deal in today’s market, but make sure you follow these Must Have’s before moving forward.
First MUST HAVE when making an offer in today’s Imperial Valley real estate market is you must be PRE-APPROVED for your mortgage. Yes, being pre-qualified is a basic minimum requirement, however if you are PRE-APPROVED you will know exactly what terms are available to you and what sales price range you can buy-in comfortably. This is like having money in the bank to buy your new home, almost makes you a CASH buyer since you won’t have to start from scratch in beginning the loan approval process since you would have already completed this important step.
Second MUST HAVE when making an offer in today’s Imperial Valley real estate market is you must be willing to put your MONEY where your mouth is. This means making an offer with an earnest money deposit of more than $1,000. Again, the thousand dollar earnest money deposit is the basic minimum, however if you’re serious about being the winning offer for a particular home or property, you should be prepared to put down up to 3% of the sales price as your earnest money deposit. In most cases this will be close to the amount of your required down payment and you’ll be required to make the down payment anyway, so be bold and put your money where your mouth is and get a leg up on others who aren’t making serious offers.
Third MUST HAVE when making an offer in today’s Imperial Valley real estate market is you must make sure you’re in a strong offer position by knowing what the market is doing with regard to real estate values and comparable sales. I agree that many homes listed on the market today are overpriced, however if you are looking at buying a home and are SERIOUS about being the winning bidder or highest offer, then you must aggressively go after the right offer price, along with the right mix of seller paid closing costs, also known as concessions and your earnest money deposit, which we talked about earlier.
If I get the opportunity to work with you in buying a home, I will provide you with a current market analysis so you know exactly what area home sales and listings are doing so you can make an informed decision on what to offer. This information is similar to an appraisal and lenders use these types of reports to make decisions on short sale values and bank owned sales price setting before it hits the market.
As your Imperial Valley Housing Specialist I am committed to helping you in making the right choice in finding your dream home, whether its a first time place or your third investment home, I stand by my clients to give them the best representation possible. I look forward to serving your home buying needs. Ask about the Home Buyer Action Plan, my detailed 28 point home buying plan available to my exclusive home buyers only.
If you have any questions about these three must haves or would like to add anything to them, feel free to contact me or comment below. Thank you.
Just in time for Summer fun!
** Just in time for Summer fun! ** Great bank owned REO single family home with pool located in the southwestern El Centro community of Sandalwood Park. The home has easy access to Interstate 8, close to schools, shopping, and more.
Comfortable single story home features new carpet/flooring, modern paint, 4 bedrooms, 2 bathrooms with over 1,500 square feet of well used space on a nice sized lot, complete with security gated pool, new pool equipment, patio for entertaining, and a roomy yard!
Southwestern El Centro REO w/cool pool Coming Soon!
Get the Priority Advantage by contacting us today regarding this great home.
Nice southwest El Centro location
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Overview Maps Photos Description Bank Owned Property Search
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Frederic Din, CA DRE #01274420
EXIT Stepping Stone Realty
(760) 235-4885 fred@ivforeclosures.com http://imperialvalleyreo.com
Listed by: Exit Stepping Stone Realty |
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Our recent listings
3 Unit Calexico Investment Deal
443 W Holt Ave, El Centro, CA 92243 352 East J St Brawley CA 92227 804 Hickory Ct, Brawley, CA 92227
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2030 Sandalwood Dr, El Centro, CA 92243 is a bank owned REO foreclosure property
Cash flow investment in Calexico
Looking to invest in Calexico, CA 92231? This is the investment opportunity you’ve been searching for. Contact us today for details on how you can own this great property. Live in the front home and rent out the other units for monthly cash flow, the possibilities are endless!
Attn: Investors, 3 Units in Calexico!
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Overview Maps Photos Description Investment Property Search
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Frederic Din, CA DRE #01274420
EXIT Stepping Stone Realty
(760) 235-4885 fred@ivforeclosures.com http://imperialvalleyreo.com
Listed by: Exit Stepping Stone Realty |
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Our recent listings
3 Unit Calexico Investment Deal
443 W Holt Ave, El Centro, CA 92243 352 East J St Brawley CA 92227 804 Hickory Ct, Brawley, CA 92227
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414 Giles Ave, Calexico, CA 92231 subject to short sale approval
California short sale, Home selling, Real Estate, Short Sale
Short Sales Benefit Imperial Valley Real Estate Buyers
BREAKING NEWS! State of California offers first time buyers a tax credit incentive of up to $10,000 on homes purchased between May 1, 2010 and December 31, 2010 or after December 31, 2010 through August 31, 2011. See the article below for full details.
Everyday buyers contact me about homes on the market or they’ll find a listing online. Invariably just about every discussion turns to the question, hey Frederic “is the home a short sale?”. As your Imperial Valley Housing Specialist I am honored to help you make the important decision of becoming a home buyer and turning you into a home owner.
I usually reply with a question or two to better understand what the buyers are searching for, to help them find and identify the right home to meet their needs with regard to location, amenities and price (LAP).
STOP listening your your family, friends, and co-workers about buying short sales, they are great homes with great prices and are typically in better condition than their bank owned cousins.
STOP listening to mis-informed real estate agents who steer you away from looking at or placing offers on short sales “because they take too long” or some other lame excuse. If you get to the truth of the matter, the agents who avoid showing short sales to you are more than likely the same agents who do not understand how short sales work nor are they interested in anything having to do with them.
I could go on and on about mis-informed or unprofessional real estate agents, however I will keep this article on task and focused on how Short Sales Benefits Buyers. How?
Speaking of LAP, let me discuss the importance of each aspect before I answer the buyers question about the home being a short sale or not.
Location, location, location
You’ve heard of the real estate adage, Location, Location, Location, right? It’s true, location is a vitally important part of the home buying process and knowing where to buy can also pay huge dividends in the future when the buyer turns into a home seller.
Where do you work? Where do your children go to school? How close or far away, do you want to be from your family? There are dozens of questions that go along with this question, but the most important part is where do you want to live?
Amenities
Once location is narrowed down, then we can focus and concentrate on the next question, what amenities are most important to you? I may ask about their current living arrangements, what they like the best and the least of their home or apartment.
Every buyer is different and places higher priorities to certain amenities, such as a pool, fireplace, patio cover, garden tub or shower stall, etc. One story or two story, corner lot versus a cul-de-sac location or middle of the street. Upstairs laundry or downstairs, east west orientation versus north south. Across the street from a park, school, or commercial business can offer both pros and cons, however only a prospective homebuyer can make these decisions since they impact everyone differently and are a matter personal choice.
I am not discussing flooring or paint color, since they are not amenities and can be changed out easily and generally fairly inexpensive. Matter of fact, most homes will need a new interior paint job and replacing the carpet or tile is almost a must for many of the homes I see. While these items are important, they are not amenities and are not considered in my search for homes for buyers.
Price
Knowing your pre-approval sale price limit or range is a must into todays home buying arena, as any bank owned home, short sale, or market sale in Imperial Valley with require a pre-approval when submitting an offer to purchase a home. An offer presented without a pre-approval or prequal is typically considered incomplete and will be overlooked and rejected before getting presented to the seller.
Cash offers need to provide proof of funds to be used when buying the home. A copy of a current account bank statement, proof of funds letter, or investment statement showing the amount of the intended sales price plus any usual and customary closing cost expenses should be included.
Once the LAP items are identified, you, the home buyer will be able to make an informed purchase decision with confidence using the assistance of your realtor as they search for homes on the market or watch the market for those certain to meet your needs.
“But Frederic, short sales take too long, I want to buy a home now, I don’t want to wait.”
What are you going to buy when most of the homes listed for sale are short sales? The bank owned and REO properties in Imperial Valley are at a premium for home buyers, since most bank owned properties can close within 30-60 days after the bank accepts the offer.
I see bank owned homes turn into bidding war competition with as many as 10 buyers, all trying to get the same home. Keep in mind that only one party will end up with the selected bid, meaning the other nice people will be stuck waiting for the next bank owned property that meets their LAP needs.
Buyers will sometimes turn to desperation and expand their LAP needs and settle for something else than the items important to them so they can make an offer on anything and perhaps buy any home. The problem with that thinking is it often only benefits the seller of the property and not the buyer, as the seller can sense the desperation in the buyers request.
I agree, every home will have some items that a would be home buyer needs to overlook, or they may need to sacrifice some amenities, location, or price in order to buy a home, however do not let those aspects of the process alone cloud your judgement.
So yes Mr and Mrs home buyer, based on your home buying needs, location, amenities and price range, the home in question fits your needs all the way around. I’ll put together the offer of $xxx and can meet you to sign the offer, collect your deposit money and pre-approval letter, is Tuesday at 4pm or Wednesday at 6pm better for you to go over the offer details?
My point? Once a home buyer has truly identified their home buying needs using the LAP process, and once the home buyer understands the short sale process, they can move forward and look at all available homes on the market that fit their needs as opposed to only as few select homes in a wide range of prices.
As I mentioned earlier in the article, Governor Arnold Schwarzenegger signed AB183 into law last Thursday, you can more about the home buyer tax credit here NEW California Home Buyer Tax Credit”
Are you looking to buy home? Let me help you manage the home buying process regardless of the type of sale so you can take advantage of the tax credits the State of California are offering Imperial Valley real estate home buyers this year.
Bank Owned, California short sale, Foreclosure, Home buying, Home selling, REO, Real Estate, Short Sale
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