Home Jane Realty

Los Angeles Real Estate Homes for Sale

Los Angeles Real Estate

  • HOME
  • ABOUT
    • About Jane
    • About the Site
    • Testimonials
    • Blog
  • HOME SEARCH
    • Search by Community
    • House Search
    • Condo Search
    • Search by Price
    • Search by Zip Code
    • Map Search (Desktop/ipad)
    • New Listings
    • Recently Sold
    • Income Property
    • Rental Search
  • BUYERS
    • Buying Process
    • First-Time Homebuyers
    • Buyer Tips
    • Mortgage Talk
    • Mortgage Calculators
    • How’s the Market?
    • Real Estate Terminology
    • Useful Resources
    • FAQ
    • Blog
  • SELLERS
    • The Selling Process
    • Seller Tips
    • How’s the Market?
    • Real Estate Terminology
    • What is My Home Worth?
    • How’s the Market?
    • Useful Resources
    • FAQ
    • Blog
  • CONTACT
LA Realty / Buyer Tips / Buying a Home in Los Angeles Be Aware of Your Price Range

Buying a Home in Los Angeles Be Aware of Your Price Range

October 14, 2013 by Jane Peters

You are buying a home in Los Angeles and have done all your homework. You have contacted a lender and know what you can afford to buy. You have chosen your Los Angeles Realtor® and you are ready to go. Stop!  Think!

For the purpose of this post, let’s assume that you have been approved to purchase a property up to $600,000.  For Los Angeles this is not a Watch your top price when buying a home in Los Angeleshigh amount and will afford you  a median priced condo on the Westside. Your lender will have factored in your total cost, PITI (principal, interest, taxes and insurance) plus approximate homeowners dues of $450. So what is the next step?

You are going to be tempted to look at properties listed up to $600,000 and you certainly can.  But there is one problem with this. Much of Los Angeles is experiencing a sellers’ market which means that there are more buyers available than properties to buy. When something comes on the market there generally is a bidding war on the good ones. If you like a home others are going to like it too. So what is your first offer going to be?

When other buyers are circling you cannot offer less than the asking price. Most of those buyers are going to come in at asking or over. If you find a property priced at $599,000 you are going to have to offer $599,000 and then you have no wiggle room whatsoever. If a counter comes back you have nothing more to give.

You can make a clean offer removing certain contingencies and shortening the time for others, but bottom line the seller is going to be looking for the most money with the least hassle.

Also, just because you can afford a home at $600,000 doesn’t mean that you are going to be comfortable making the payments every month.

It would be wise to set your sight on a property listed a price where you are going to be able to answer a counter and be comfortable with your payments if your offer is accepted.  Let’s say you are O.K. with $600,000, then maybe you should not look at properties over $575,000. It will give you room to offer more in a counter situation and avoid the disappointment of losing out on several offers because you could not compete.

Homes for Sale in Los Angeles

 

Need Help? Have questions? Fill out the CONTACT FORM or call Jane at 310-473-6919

Filed Under: Buyer Tips Tagged With: Buying Los Angeles Real Estate

Contact Jane, Broker/Owner

Need Help?
Get in Touch

Contact Jane

310.351.9208
or Click Here

Quick Home Search

Search Site








What’s My Home Worth?

What's My Home Worth

Jane Peters, Broker/Owner

Home Jane Realty
(p) 310.473.6919
(c) 310.351.9208

yourmove@homejane.com
CalBRE Lic #01439865

  • Facebook
  • Google+
  • Linkedin
  • Pinterest
  • RSS
  • Twitter
  • YouTube

Quick Links

  • About Jane Peters
  • Testimonials
  • For Sellers
  • For Buyers
  • School Search
  • How’s the Market?
  • What’s my Home Worth?
  • Mortgage Calculators
  • Walk Scores
  • BLOG

Recent Posts

  • Culver City Homes For Sale 2017 Market Report
  • Brentwood Homes For Sale 1st Qtr 2018 Market Report
  • Century City Condos for Sale 1st Qtr 2018 Market Report
  • Santa Monica Homes for Sale Market Report 1st Qtr 2018
  • Wilshire Corridor Condos First Quarter 2018 Market Report
© 2018 Copyright homejane.com | All Rights Reserved
DMCA.com Protection Status
SITEMAP