This is a great article from SelfStorage.com highlighting things to think about before moving to Los Angeles: “Don’t let anyone tell you otherwise: If you can make it in Los Angeles, you can make it in New York. (It’s not the other way around). With a population of about 4 million, LA isn’t a city […]
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.
If you are a home buyer, especially in the Los Angeles area, I feel compelled to offer a heads up on what you should be expecting from your agent. This especially applies if your are a first-time home buyer because you may not understand how the process works.
I often get calls from buyers, especially first timers, asking about a property they presume is my listing because it is on my website. Since I run an Internet Data Exchange (IDX) feed on my website, all listings provided by my Multiple Listing Service (MLS) are provided to my site through my IDX, hence the confusion. I am, of course, happy to help them since this is a source for some of my business. However, the first question I ask is if they already have an agent. Many of them do. That is when I feel compelled to explain what the role of their agent is which is what their agent should have already explained to them.
Much of Los Angeles is experiencing a sellers’ market right now. How do you define a sellers’ market? It is based on low inventory. Loosely you would take the number of homes sold over the past six months compared with the number of homes for sale; that will give you the number of months it […]