thinking about going in with my cousin on a duplex. does anyone know if any for like $450k exist??? thats a long shot these days, but up to 500k would be possible. im thinking 250k would be my half and i'd put like 30k down at least, hopefully having monthly bills not be more then 1600 or so then


doesnt need to be in a nice nice area, but i dont want to worry about my tires in the morning type thing. anyone know any place?


thanks

I was under the impression that not even a single family residence is priced that low, in San Jose.

you can maybe get a 2 bedroom condo for that...

make sure it has a spa.

Try Fresno? :)

well, when you are ready for a loan i can do it for you. i have many loan products that will fit your needs. email me back and we can discuss it a little more. I work for Washington Mutual bank and we have out top rated Option ARM loan that even chairman Alan Greenspan supports. start rate of 1.25% for example a 500K loan amount, payments would run you $1666.26 per month.

email me at Michael.kuo@wamu.net if you are interested.

thanks

Michael kuo

well, when you are ready for a loan i can do it for you. i have many loan products that will fit your needs. email me back and we can discuss it a little more. I work for Washington Mutual bank and we have out top rated Option ARM loan that even chairman Alan Greenspan supports. start rate of 1.25% for example a 500K loan amount, payments would run you $1666.26 per month.

email me at Michael.kuo@wamu.net if you are interested.

thanks

Michael kuo

I don't know Michael, Of course that is an interest only loan right? :( How about a vary-rate loan :( What happens when interest rates rise up to 7.5% in the next 5 years? Poor guy is out on the side of the road sleeping in the back seat of his M3..... :( "Not cool" ~ go with a fixed rate unless you plan on unloading this thing soon ~

Just my .02

-Eli

well, when you are ready for a loan i can do it for you. i have many loan products that will fit your needs. email me back and we can discuss it a little more. I work for Washington Mutual bank and we have out top rated Option ARM loan that even chairman Alan Greenspan supports. start rate of 1.25% for example a 500K loan amount, payments would run you $1666.26 per month.

email me at Michael.kuo@wamu.net if you are interested.

thanks

Michael kuo
since when does greenspan endorse specific lendors and loan programs? :confused

www.bankrate.com is your friend

Also your friend:

www.fremontbank.com

www.bofi.com

Got my last loan (#5 of 5) from E*Trade "They were pretty good".

Di-tech also handled my refi a while back and did a great job too. :D

I'm going to refer you to E*Trade though....

If you need an agent I can refer one to you as well, I've used three in my purchases but can refer the one that is closest to you.

-Eli

median home price in Santa Clara county, as of last week, was 652k....450 for a duplex? highly doubt it.

For $450k, your best bet would be a condo or maybe a townhouse but even townhouses are priced over $500k in the area you're interested in.

The cheapest, active, multiple unit property for sale at the moment located IN santa clara county is $525,000 in san jose. The next 2 from there are at $545,000. Then the fourth listing is $598,000. This is as of 4/48/05. If you want something in your price range and absolutley HAVE to have a multiple unit in the bay area, you will have to look to the oakland area.
BUT, if you are looking to invest some money and see a nice return, give me a call. I have some very good options and some great returns for you depending on how much money you are looking to invest and how much time you are looking to devote that money.
Sincerely,
Your friendly neighborhood Realtor.
Toby Cheng
408-876-8826

The cheapest, active, multiple unit property for sale at the moment located IN santa clara county is $525,000 in san jose. The next 2 from there are at $545,000. Then the fourth listing is $598,000. This is as of 4/48/05. If you want something in your price range and absolutley HAVE to have a multiple unit in the bay area, you will have to look to the oakland area.
BUT, if you are looking to invest some money and see a nice return, give me a call. I have some very good options and some great returns for you depending on how much money you are looking to invest and how much time you are looking to devote that money.
Sincerely,
Your friendly neighborhood Realtor.
Toby Cheng
408-876-8826
thread hijack; my deepest apologies :devillook


toby- find me something in LA where i can get in the monthly at around <1500 and NOT in the ghetto.

and not too far from downtown.

and while we're at it, throw in a maid and butler ;) j/k

well, no seriously- see if you can find anything in that price range. i'm not confident, but curious to see if you can.

Toby,

Whacha got listed in the San Gabriel Valley?

-Eli

Toby,

Whacha got listed in the San Gabriel Valley?

-Eli
hey! this is my hijack, eli! :shifty

hey! this is my hijack, eli! :shifty

Someone has to hijack the hijacker... :stickoutt

before you judge the product and decide, you must understand the product fully. I just gave out some of the information reguarding the loan product to guage interest. everyone has thier own preference in loan products. In his situation it's sounds to me that he needs the cash flow and to get in on the home soon. The option ARM that i gave out is his best bet for affording a home in the bay area.

ARMs Gain Greenspan Support; WaMu is an Industry Leader

Summary: Federal Reserve Chairman Alan Greenspan says if homeowners are willing to manage risk, adjustable-rate mortgages (ARMs) can save them "tens of thousands of dollars." That's good news for Washington Mutual. As interest rates rise, the Option ARM (considered Washington Mutual's flagship home loan product) is receiving renewed emphasis companywide. "We are the industry experts in Option ARMs–we've been selling them longer than anyone in the business," says Tony Meola, Home Loans, Consumer Group.
When borrowers choose fixed-rate mortgages, they're protecting themselves against sharply rising interest rates in the future. But for that protection they pay several thousands of dollars a year, said Federal Reserve Chairman Alan Greenspan in a recent speech to the Credit Union National Association.
"American homeowners clearly like the certainty of fixed mortgage payments," he said, but also noted, "The traditional fixed-rate mortgage may be an expensive method of financing a home."
Greenspan said that research within the Federal Reserve suggests that "many homeowners might have saved tens of thousands of dollars had they held adjustable-rate mortgages (ARMs) rather than fixed-rate mortgages during the past decade," adding that "this would not have been the case, of course, had interest rates trended sharply upward."
WaMu's Option ARM can be the answer
Kathy Jacobs, Wholesale Lending, Consumer Group, says Washington Mutual's Option ARM is "the perfect loan for almost any borrower."
"The Option ARM lets borrowers manage their cash flow by choosing from up to four monthly payment options," says Jacobs. "Borrowers can pay the minimum amount, pay the interest only* in order to free up funds for other uses, or they can make larger payments (15-, 30-, or 40-year full principal and interest) to build their equity faster. The choice is theirs."
As interest rates rise, the Option ARM (considered Washington Mutual's flagship home loan product) is receiving renewed emphasis companywide.
"We are the industry experts in Option ARMs-we've been selling them longer than anyone in the business," says Tony Meola, Home Loans, Consumer Group. Meola adds that over the past few months Washington Mutual has been conducting extensive training and home-buyer education about Option ARMs to give WaMu loan consultants and account managers even more of an edge in selling this product.
"We've been very happy with our success with this loan," he says. "In 2003, we captured 11 percent market share of ARM originations, holding the No. 2 spot nationwide. We look forward to taking even more market share in the months to come."

before you judge the product and decide, you must understand the product fully. I just gave out some of the information reguarding the loan product to guage interest. everyone has thier own preference in loan products. In his situation it's sounds to me that he needs the cash flow and to get in on the home soon. The option ARM that i gave out is his best bet for affording a home in the bay area.

ARMs Gain Greenspan Support; WaMu is an Industry Leader

Summary: Federal Reserve Chairman Alan Greenspan says if homeowners are willing to manage risk, adjustable-rate mortgages (ARMs) can save them "tens of thousands of dollars." That's good news for Washington Mutual. As interest rates rise, the Option ARM (considered Washington Mutual's flagship home loan product) is receiving renewed emphasis companywide. "We are the industry experts in Option ARMs–we've been selling them longer than anyone in the business," says Tony Meola, Home Loans, Consumer Group.
When borrowers choose fixed-rate mortgages, they're protecting themselves against sharply rising interest rates in the future. But for that protection they pay several thousands of dollars a year, said Federal Reserve Chairman Alan Greenspan in a recent speech to the Credit Union National Association.
"American homeowners clearly like the certainty of fixed mortgage payments," he said, but also noted, "The traditional fixed-rate mortgage may be an expensive method of financing a home."
Greenspan said that research within the Federal Reserve suggests that "many homeowners might have saved tens of thousands of dollars had they held adjustable-rate mortgages (ARMs) rather than fixed-rate mortgages during the past decade," adding that "this would not have been the case, of course, had interest rates trended sharply upward."
WaMu's Option ARM can be the answer
Kathy Jacobs, Wholesale Lending, Consumer Group, says Washington Mutual's Option ARM is "the perfect loan for almost any borrower."
"The Option ARM lets borrowers manage their cash flow by choosing from up to four monthly payment options," says Jacobs. "Borrowers can pay the minimum amount, pay the interest only* in order to free up funds for other uses, or they can make larger payments (15-, 30-, or 40-year full principal and interest) to build their equity faster. The choice is theirs."
As interest rates rise, the Option ARM (considered Washington Mutual's flagship home loan product) is receiving renewed emphasis companywide.
"We are the industry experts in Option ARMs-we've been selling them longer than anyone in the business," says Tony Meola, Home Loans, Consumer Group. Meola adds that over the past few months Washington Mutual has been conducting extensive training and home-buyer education about Option ARMs to give WaMu loan consultants and account managers even more of an edge in selling this product.
"We've been very happy with our success with this loan," he says. "In 2003, we captured 11 percent market share of ARM originations, holding the No. 2 spot nationwide. We look forward to taking even more market share in the months to come."
oh... ok, so greenspan didn't exactly endorse your specific loan, like you had worded your previous post to insinuate.

i see...

Sorry but that first insert "loan product to guage interest." seemed like those hundreds of "BORROW $500,000 FOR ONLY DOLLARS A MONTH" offers that I get in the mail each month....

We're all here to support each other. . . . Give it to us straight and the board members will respect that. I'm not trying to tear you down in any way, I just think that we deal with enough B/S out there,

-Keeper of the truth-

-Eli

Sorry but that first insert "loan product to guage interest." seemed like those hundreds of "BORROW $500,000 FOR ONLY DOLLARS A MONTH" offers that I get in the mail each month....

We're all here to support each other. . . . Give it to us straight and the board members will respect that. I'm not trying to tear you down in any way, I just think that we deal with enough B/S out there,

-Keeper of the truth-

-Eli
yeah... same here.

we deal with all the little junior college drop out kids on OT that are trying to hawk loans all day... gets a little tiresome.

i admit, we are harder on the loan officers than anyone else- just out of prior experience.

guys, thanks for the responses. i didnt forget my own thread.


reason i was looking for a duplex, would be to split the cost of a house. that way its like 250k or so. i have seen some decent condo's but those are 350k+ and i cannot afford that :(
maybe i could, but i would live on water and bread lmao

i really dont like the idea of an apt- no tax write off and its just money thrown away, but i can find something nice for like 800/month or so- i think i just might go for it

sooner or later, the house prices have to crash down!! lol, i hope

why do they have too?

plenty of people have money to buy, and the valley is doing much better than it was 4 years ago.

just get in the game..buy a condo. there are some new loft over in Santa Clara, friend of my wifes was looking at them, around 400k or so....


c'mon, it's only money!


right about the tax write off, I get to write off about 40k in interest this year...I'll FINALLY get some damn taxes back!

Looks like the interest rate is on it's way up..... For those who pay attention to the news or read the WSJ. I would say to hang in there, it doesn't appear that you have a lot to work with right off the bat, (meaning that you don't have a good portion of equity to go into the loan with) so with the rise in interest up ahead I'm sure that property will show a turn.

How many of those recent buyers will be able to sustain on a :eek: variable :eek: APR loan? :( :help

My recommendation would be to hold on a bit and save up for a small down in the mean while..... :buttrock

-Eli

thanks!

yes, that was the idea.

LOTS of people got in knee deep, and there will be many repossessed houses and whatnot on the market. im gonna grab one of those


for now, i'll still live at home (although getting married in 2 months :/ ) we'll see how it goes for a bit

thanks!

yes, that was the idea.

LOTS of people got in knee deep, and there will be many repossessed houses and whatnot on the market. im gonna grab one of those


for now, i'll still live at home (although getting married in 2 months :/ ) we'll see how it goes for a bit

Have the wife read this post.... I'm sure she'll also agree.... Man "live at home for as long as you can", I would but I have way to many "toys"..... :redspot Besides I've lived in my own home since the mid-90's now..... I'm in #4 now....

-Eli

If you're looking for a deal, I'd say go thru your parents and relatives phonebooks and SCOUR every single lead you can. THis is how I and my brother got our places undermarket and without any bidding wars. We also cut out the realtor's sales commisions (b/k there WERE NONE).

He bought a SFR in the best part of Arcadia for $120k undermarket...from a 83 y.o elderly lady (my mom's friend from a women's social club) who was moving out of state to Utah. There is even a small back house on the property to rent out if my brother so desires.

-This house never hit market.

I bought a 3bed townhome in San Gabriel $70k under going prices.

-Again, this property never hit market.

Moral of the story? Think different and ask everybody with a pulse if they know of anyone selling. Even better if it's a relatives close friend. I, and my brother, are immune to the market dropping out b/k our equity protects us....my home's value could fall ~20% and I'd be in black....my brother house could fall ~30% and he'd still be in black. Be creative and ye shall find victory.

LeftCoastBias and Eli at Pelican

Sorry! I don't have time to check the boards that much anymore. I'll get on searching for those properties right away. Could you both do me a favor and shoot me an email at tobykcheng@hotmail.com
Then i can get your email so I can send you a list of properties. Thanks!
Toby

If you're looking for a deal, I'd say go thru your parents and relatives phonebooks and SCOUR every single lead you can. THis is how I and my brother got our places undermarket and without any bidding wars. We also cut out the realtor's sales commisions (b/k there WERE NONE).

He bought a SFR in the best part of Arcadia for $120k undermarket...from a 83 y.o elderly lady (my mom's friend from a women's social club) who was moving out of state to Utah. There is even a small back house on the property to rent out if my brother so desires.

-This house never hit market.

I bought a 3bed townhome in San Gabriel $70k under going prices.

-Again, this property never hit market.

Moral of the story? Think different and ask everybody with a pulse if they know of anyone selling. Even better if it's a relatives close friend. I, and my brother, are immune to the market dropping out b/k our equity protects us....my home's value could fall ~20% and I'd be in black....my brother house could fall ~30% and he'd still be in black. Be creative and ye shall find victory.


Good find!

guys, thanks for the responses. i didnt forget my own thread.


reason i was looking for a duplex, would be to split the cost of a house. that way its like 250k or so. i have seen some decent condo's but those are 350k+ and i cannot afford that :(
maybe i could, but i would live on water and bread lmao

i really dont like the idea of an apt- no tax write off and its just money thrown away, but i can find something nice for like 800/month or so- i think i just might go for it

sooner or later, the house prices have to crash down!! lol, i hope

Even in this market, you should definately be able to find a at least a decent/good 1BR/1BTH condo in the greater San Jose area for under $350K....possibly even a 2BR/1BTH unit somewhere. The decision you have to make is if you are going in on this with your cousin or by yourself. It is highly unlikely that the prices in the Bay Area are going to "crash" any time soon. You've gotten some pretty good responses on this thread and it is, in my opinion, always the right time to invest in a home...the sooner the better.

Just to clear the air, I don't think the market will "crash".... I think that it will take a slow merge like an old man into a warm bath.... :stickoutt

-Eli