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Spring Valley, CA

Out & About San Diego — Ever wondered what a condemned home looks like?

Jim Frimmer, Realtor and CDPE,  Mission Valley, CA DRE #01458572: Real Estate Agent in San Diego, CA

Out & About San Diego with Jim Frimmer, your Mission Valley Realtor


Ever wondered what a condemned home looks like?

The San Diego Union-Tribune on Thursday last week had an article about a Spring Valley home that was going to be torn down after being condemned by the County.

The same person has owned the house for twenty years but, according to neighbors, no one has lived in the house for about fifteen years. The home has become infested with rats, and although the County has been in contact with the owner, a Mr. Seeley, he didn't want to harm the rats so he did nothing.

The County finally got an abatement warrant signed by a judge. The house has also now been foreclosed on and the lender is paying for the demolition of the home.

This apparently is the first time in the County's history that a home will be destroyed due to an infestation of rats.

What a sad story, not only for the owner, but for the neighbors as well.

I thought that I would be a loner when I went to take pictures around noon today, but there were a few people in front of the house and cars arriving regularly, some stopping, some just slowing down to look.

Here's what a condemned home looks like:

Condemned home

Condemned home

Condemnation notice

♪♫ I play thet piano to relax ♫♪

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FHA Financing 203k Loan for Rehab in Spring Valley CA 91977

Mike Walsh - Direct 858-864-8924  FHA VA USDA Jumbo Reverse Mortgage: Loan Officer in San Diego, CA

FHA 203k Streamline Rehab loans are a great way to purchase a property and revitalize your community. FHA has made the rehabilitation process easier for buyers by enabling them to finance the acquistion of the property and rehabilitation in just one transaction. There is no need for second mortgages or expensive bridge loans. The FHA 203k Streamline loan is the right loan if you are looking to purchase a home that needs a little upgrading or minor repairs.

The FHA 203k Streamline rehab loan works similiar to a regular FHA loan in terms of qualifying. A buyer must have good credit and documentable income. A 3.50% down payment is all that is required. It is a good idea to prequalify for the FHA 203k loan before you spend money on such things as an appraisal or home inspection. Click on this link to begin the prequalification process now. http://www.approvingcalifornia.com/

A buyer on a Streamline FHA 203k rehab loan may get up to $35,000 towards eligible repairs. In order to receive the FHA 203k rehab funds a FHA licensed appraiser must do an appraisal that validates the property's value after the repairs are made. For instance, if you planned on purchasing a home for $200,000 and make $25,000 in repairs then it must appraise for $225,000. Eligible properties are single families, pud's, FHA approved condos, and 2-4 unit dwellings as long as one unit is owner occupied. REO's, foreclosures and short sale purchases are permitted as well.

Eligible improvements must be permanent and add value to the property. Keep in mind that FHA 203k rehab loans are for minor remodels and are not for structural improvements. An addition of a bedroom or bathroom can be done on a FHA 203k Rehab loan. You may finish decks, basements, attics and roofs. FHA 203k rehab loans also allow for safety upgrades to HVAC systems, plumbing, electrical, flooring and appliances. Weatherizing is an acceptable improvement as well, such as adding storm windows. Ineligible improvements are anything that is considered luxury items or foundation repairs. However, FHA 203k rehab loans allow for $1,500 in improvements to existing pool and spas.

If you are interested in prequalifying or learning more about the process please call 858-848-0048 or email me t mwalsh006@gmail.com today. You may also begin the FHA 203k Renovation prequalification process by clicking here: http://www.approvingcalifornia.com/

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Solutions Real Estate San Diego: Real Estate Brokerage in Carlsbad, CA

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