It doesn’t take a time traveler to appreciate the fact some folks are just inherently going to have a problem with paying today for something that won’t come due until tomorrow. Especially when that something is perhaps ill-explained and/or part of a complex real estate transaction. Even with the rollout of the CFPB’s new disclosure forms, the Loan Estimate (LE) and the Closing Disclosure (CD), consumers will likely still proffer some age-old questions about at least one component of a mortgage loan’s cost structure. So let’s hop in our DeLorean and venture to find out what is prepaid interest?
Buying a home in Los Angeles is not just a matter of looking for one, you need to be ready to make the purchase. Without a formal confirmation from a lender that you qualify for a loan you will not be able to make an offer on a property. And in a sellers’ market you need to make yourself competitive.
The Los Angeles real estate market is still favoring sellers and many if not most homes for sale receive many offers. In a multiple offer situation the inspection becomes a more delicate matter than usual since there will almost certainly be one or two backup offers waiting in the wings.
Let’s see how the Los Angeles real estate market is doing. This is a market report based on the first six months of sales and compares median prices to those of 2014. Is it still a sellers’ market in Los Angeles?
Westwood is an extremely desirable area of Los Angeles to live, but the inventory has been low for the past couple of years. How is the market doing right now?
West Hollywood is still one of the more affordable areas of Los Angeles to buy a home. Let’s take a look at sales in the 2nd Qtr 2015