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Selling your Los Angeles Home and Buying Another? Use the Same Agent

January 24, 2012 By Leave a Comment
Los Angeles Real Estate Agent, Los Angeles Rental Properties

Los Angeles home sellers often contact me to help them find a home to buy or rent. Knowing that they are obviously already working with a Realtor® my first question is, "have you asked your current Realtor® to help you?" Today I received one of those calls from a lovely lady who said, and I kid you not, "Oh no.  He is so busy selling my home I didn't want to bother him."  Now don't get me wrong.  I am certainly more than willing to help someone  who is buying a Los Angeles home, but … [Read more...]

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Need Help Buying a Los Angeles Property? 10 Reasons Why You Should Talk to a Realtor®

January 11, 2012 By 2 Comments
Choosing a Los Angeles Realtor®, How to Hire a Los Angeles Realtor®

How do you go about searching for a Los Angeles home for sale?   If you are like the majority of Los Angeles homebuyers  you start your search online.  After all you can buy almost everything online these days including, believe it or not, supposed stem cells.  But unless you are a doctor would you attempt to buy stem cells online? The same thing goes for such an important transaction as your future home.  Finding a Los Angeles home for sale  is not a simple process, let alone buying … [Read more...]

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Thinking of Buying a Los Angeles House? Rein in your Spending this Holiday Season!

November 4, 2011 By 2 Comments
Be careful with your expenditures when buying a Los Angeles home

You are excited about buying a Los Angeles home and have been very good about keep your credit immaculate.  However the holiday season looms putting your hard work in jeopardy. Your shopping list sits in front of you beckoning.  You are probably not going to pay cash for all those gifts, or write a check.  You may open store credit, apply for a new credit card, or simply jack up your balance on your existing credit card. Too many enquiries on your credit in a short period of time is going … [Read more...]

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How to Handle the Request for Repairs When Buying a Home

October 15, 2011 By Leave a Comment
Home Buyer Repair Request

When buying a Los Angeles home be prepared to put on your negotiating hat. When you are caught up in the emotion of buying a home you may forget that there is another side to the process, the Seller.  Generally each side is trying to get the best deal for his or herself and is not always considering the other party.   Arriving at an agreed upon sales price is only part of the process, equally important is what comes next.  Even though a home is listed with the caveat "as is", that really … [Read more...]

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What Can you Buy for $1 Million in Los Angeles?

October 13, 2011 By Leave a Comment
Using a Los Angeles Realtor for your Real Estate Needs

In many communities across the country $1 million will buy you a spectacular piece of real estate.  In Los Angeles $1 million may buy you a more modest house, depending on the area, and in some neighborhoods, such as Brentwood, Beverly Hills, Bel Air, etc. you may not find a home under $1 million. This will give you an idea of what you can buy for $1 Million in Los Angeles, Santa Monica, West Hollywood, Culver City, and Beverly Hills. Search Los Angeles Homes for Sale Los Angeles … [Read more...]

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You Do Not Need an Attorney for Los Angeles Real Estate Transactions

October 10, 2011 By 1 Comment
Title Insurance

California is an escrow state but escrow procedures differ between Northern and Southern California and from county to county.  For the purposes of this post I will address the reason you do not need an attorney for real estate transactions in Southern California. What is Escrow? Escrow is a neutral party which provides protection to both the buyer and seller during the real estate transaction.  Examples of the function of escrow are: Receives and holds the good faith deposit from buyer … [Read more...]

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Today’s Mortgage Lesson: The Three R’s. Rumors, Reminder, and ‘Rithmetic

June 1, 2011 By 1 Comment
Los Angeles Mortgage Advice, Buying a Los Angeles Home

As usual, Gene Mundt, a Chicago mortgage lender offers excellent advice which Los Angeles home buyers can take advantage of. Today, I want to address 3 things that seem to crop-up frequently when working with home buyers ... and that's ... Rumors, Reminders, & 'Rithmetic! Rumors first, as I believe misconceptions and untruths can scare potential home buyers from searching out the facts. The rumor I hear most often concerns the need for down payment.  So many potential home … [Read more...]

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Before You Search for Real Estate, Develop a Needs vs. Wants List

March 11, 2011 By 3 Comments
Wants and Needs When Buying a Los Angeles Home, Make a List When Buying a Los Angeles Home

Everyone has a picture in mind of their ideal home.  This picture includes all of the features you not only need, but have long desired. However, when it comes time to buying a home, the desires cost more.  While it’s nice to imagine having a beautifully landscaped backyard, or a sunroom, perhaps even some specialty appliances, these are usually considered luxury items, which can add considerably to the price of your real estate. That’s why it’s always a good idea to develop a needs … [Read more...]

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What are Seller Concessions?

March 7, 2011 By Leave a Comment
Buying a Home in Los Angeles, Seller Concessions

Seller Concessions, also referred to as a Seller Contribution, is when a buyer asks the seller for a financial contribution towards their closing costs, escrows and/or pre-paids. Not all sellers will give a contribution and some lenders/loan programs may have restrictions on seller concessions, which may include not allowing them. Now there are a few things both buyers and sellers need to be aware of when it comes to seller concessions. 1. The buyer is basically financing their closing … [Read more...]

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Should I Downsize my Los Angeles Home?

January 18, 2011 By 2 Comments
Downsizing your Los Angeles Home, Buying on the Wilshire Corridor, Buying a Century City Condo

You know the story. The kids are gone. You have more space than you could ever use. The maintenance of the home is becoming more than you can handle and you are thinking, "should I downsize my Los Angeles home?" You have decided that you are ready and are wondering how to proceed: Should I wait to sell my Los Angeles home? The good news is that any time you are thinking of selling your Los Angeles home is the right time.  You are worried that prices are down and now is not the time.  … [Read more...]

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Los Angeles Homeowners – Lower Your Monthly Mortgage Payments

January 6, 2011 By 1 Comment
Lowering your Los Angeles Home Mortgage, Recasting your Los Angeles Mortgage

If you are thinking about buying a home in Los Angeles or you are already a Los Angeles homeowner, there is a way for you to lower your monthly mortgage payments without going the refinance route. Lowering your monthly mortgage payments can be accomplished by recasting or re-amortizing your loan. What is recasting your loan? Recasting your loan means paying down your principal with a lump sum which resets your monthly payments, keeping the original terms and rates. Here is an example … [Read more...]

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A Good Time to Purchase a Home for Investment Purposes

October 19, 2010 By Leave a Comment
Now is a Good Time to Buy an Investment Property

Perhaps you are living in a home you love.  You like the community and your neighbors.  Your home is conveniently located in a neighborhood that is close to shopping and good schools with access to highways or public transportation. Your research reveals that home interest rates have reached the lowest point in approximately 40 years and you would like to obtain some benefit from this milestone.  Selling your home is not a consideration; what type of action should you take? Following is … [Read more...]

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Now is a Good Time For First-Time Home Buyers

September 29, 2010 By 2 Comments
Now is a Good Time to Buy

Now is a Good Time for First-Time Home Buyers For those of you who have been sitting on the fence and unable to make a firm decision whether or not to buy a home – now is a very good time to do it! If you have been renting and considering the purchase of your first home, there are a number of reasons why you should make the commitment at this time. Due to our present economic problems, there are many former homeowners who have left their houses and condos either by choice due to financial … [Read more...]

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10 Reasons to Buy a Home in Los Angeles

September 18, 2010 By Leave a Comment
Now is a good time to buy a home in Los Angeles

Scared away from the prospect of buying a home?  Think buying a home no longer makes sense?  Think again. Consider these 10 reasons to buy a home in Los Angeles: 1.  Deals can be made.  Prices are down, in some cases 30% from their top.  Are we at the bottom, who knows, but you will never know when we are, and now is as good a time as any to jump in.  A lot of buyers have disappeared after the end of both the Federal and California tax breaks. 2. Mortgage rates are the lowest on … [Read more...]

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Buying a Home in Los Angeles – 5 Mistakes to Avoid

September 4, 2010 By Leave a Comment
Los Angeles First-Time Home Buyers, 5 Mistakes to Avoid When Buying a Los Angeles Home

Buying a Home in Los Angeles - 5 Mistakes to Avoid With record low mortgage interest rates, and low prices buying a home in Los Angeles right now should be a no-brainer for first-time home buyers. However, here are some mistakes to avoid: Selecting a Los Angeles Realtor® Many Los Angeles first-time home buyers, and home buyers in general spend their time online checking out homes and relying on sites like Zillow to provide them with accurate comps. Understand that working with a … [Read more...]

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HUD May Owe You a Refund on Your FHA Loan

August 26, 2010 By Leave a Comment

If you have ever taken out an FHA loan it is possible HUD owes your a refund. HUD has been attempted to identify people owed a refund on an old FHA loan and you may qualify for one.  Maybe there was money due from an impound account, but after close of escrow you moved and Uncle Sam couldn't find you. To find out more go to the HUD website and find out if HUD owes you a refund. … [Read more...]

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Buying a Home in Los Angeles. Don’t Drive Yourself Crazy

August 22, 2010 By Leave a Comment

You are thinking of buying a home in Los Angeles, and you don't know where to start.  It seems like an insurmountable task.  How much can you afford?  In which areas should you look?  How will you find your home?  How do you make an offer.... and on and on. It is not as difficult as it seems.  This is where a realtor comes in.  Find someone you like and trust and put yourself in their hands.  They will take most of the load off you. The first thing the realtor will help you with is … [Read more...]

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Hidden Costs of Buying a Home in Los Angeles

August 16, 2010 By Leave a Comment
Los Angeles Buyer Tips

Hidden costs of buying a home in Los Angeles Buying a home in Los Angeles is not just a matter of putting down money for the down payment, getting a mortgage and then paying interest on that mortgage.  There are other hidden costs which need to be considered: Closing Costs A rough estimate of the closing costs for a buyer are 1.5% of the purchase price.  This includes the loan fees which should be discussed up front with your lender.  In fact your lender is now required to provide you … [Read more...]

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California First Time Homebuyers Tax Credit Cutoff August 15th

August 11, 2010 By Leave a Comment

The Franchise Tax Board has announced that the will be accepting applications for the California first-time home buyers tax credit through midnight, August 15th. By that time they the Board believes it will have enough applications to fulfill the $100,000 allocated to first-time California home buyers. Due to the volume of applications being submitted via fax you may find the lines tied up. You may want to try outside business hours. For more information visit the California Franchise Tax … [Read more...]

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California Median Home Prices Up 21%

May 27, 2010 By Leave a Comment
Buying a Home in Los Angeles

According to the California Association of Realtors the California median home price rose 21% but sales of existing homes dropped by 8%. The median price in April 2010 was $306,230 up from $253,110 the year before and up 1.5% over March 2010's median of $301,790. The annual sale of homes was down below the 500,000 mark for the first time in 19 months, primarily due to buyers delaying closing of escrow to take advantage of both the federal and state home buyers tax credit. May should be a … [Read more...]

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