How Do I Know if I am Ready to Buy a Home?

Are you ready to buy a home?

You want to buy a home. How do you know if you are ready? Ask yourself these questions: Do I have a steady source of income (usually a job)? Have I been employed on a regular basis for the last 2-3 years? Is my current income steady? How is my bill payment record. That will be determined by your credit report? How many long-term debts to I have? Car payments, student loan, etc. How much money do I have saved for a downpayment? Do I have enough money to make payments every month … [Read more...]

How Does Buying a Home Compare With Renting?

Buying a home vs renting, the benefits

One can get very comfortable in a rental situation, but there is no comparison between owning your own home and renting. There are a couple of advantages to renting: one is being generally free of most maintenance responsibilities, and the other is not having to worry about making your mortgage payments should your financial situation fluctuate. But by renting you are paying someone else's mortgage and you lose the chance to build equity, take advantage of tax benefits and protect yourself … [Read more...]

Google is Expanding in Los Angeles. How’s the Housing Market?

Playa Vista homes for sale

Google is expanding its presence in Los Angeles buying 12 acres in the Playa Vista development. It is estimated that this will bring in as many as 6,000 employees. This, coupled with the huge growth of the tech industry in the general area known as "Silicon Beach", is of course good news for the local economy in general and the real estate industry in particular. Where are all of these people going to live, especially in the sellers' market that is Los Angeles real estate at … [Read more...]

Guide to Buying a Home in Los Angeles for Foreign Nationals

Foreign nationals buying a home in Los angeles

The purchase of properties in Los Angeles by foreign nationals has seen a healthy growth lately and many may not be familiar with the mechanics. Hopefully the summary below will help shed light on what is really not such an overwhelming process. Step 1 Most foreign buyers are going to be all cash as it is difficult to get a loan. Should getting a loan be an option then a pre-qualification/approval will be required from the lender before an offer can be made. For cash buyers proof of … [Read more...]

Looking for Picky Los Angeles Home Buyers. Want to be on TV?

Be on TV while buying a Los Angeles home

Semisweet Productions is CASTING ULTRA PICKY LOS ANGELES HOMEBUYERS IN FOR MAJOR NEW SERIES - ALL TYPES WANTED! Are you an ULTRA particular homebuyer and have NO problem hiding your pickiness? Are you a LOS ANGELES FIRST TIME HOMEBUYER without a clue? Are you a parent trying to find your child their first place, but you can’t agree on ANYTHING?! Are you looking to buy the love of your life their DREAM HOME? Do you have a best friend who’s helping you on your home buying … [Read more...]

Buying a Los Angeles Home Part 3: Define Your Criteria

Buying a Los Angeles Home: Define your Criteria

You are ready to buy a Los Angels home. You have talked to a lender and chosen your Los Angeles real estate agent. What comes next? Now you need to sit down with your agent and define your criteria. An area like Los Angeles gives you a large variety of options and you are going to have to decide what is most important to you and narrow them down. Here are some ideas: Location: Do you need to be near work.? How much of a commute are you willing to consider? L.A. freeway driving can be … [Read more...]

Buying a House in Los Angeles Needs a Little Stickwithitness

Buying a Los Angeles home? Stick with it

If you are  buying a house in Los Angeles, it is a very tough market right now.  There is very little new inventory and sellers are pulling all the strings. The latest home a buyer of mine is considering is being held open twice with private showings in between, to build up the momentum for buyers to make offers after a week on the market, and the number of buyers coming through has been huge.  It is a beautiful house with a pool and great view and it is reasonably priced for the area.  Is it … [Read more...]

How Appraisals Can Affect Your Real Estate Transaction

Appraising your Los Angeles Home, Understanding Los Angeles Real Estate Appraisals

Inevitably there's a point during my conversation with almost every new mortgage client that the talk turns to the  property appraisal.  If the client themself brings up the topic, it's an indication to me that I'm speaking with an educated buyer.  That buyer has already done some homework regarding mortgages already ... and that's good. Typically, new home buyers and homeowners want to know the basics of the appraisal.  Who is going to do the appraisal?  Will they get to see … [Read more...]