Here is an article that is spot on and is something I have been talking about for two years. Really all this talk about economic recovery if it doesn't filter to the young adults (actually if it doesn't filter down to all economic groups) is there really a recovery?
The American Dream for the 25 to 45 year old has become the American nightmare. If Mom and Dad can't help with the down, for most young adults to just meet expenses is difficult enough let alone raising the down to qualify for a Mortgage. According to my mortgage brokers, mortgage rates are back down close to 4% and although Santa Monica Real Estate as well as most of West L.A Real Estate is at a premium, the lower mortgage rate far surpasses the premium. Monthly payments will be much lower then if houses were discounted and you had a 6% mortgage. There are ways to get a low down loan and if you are a renter paying 1500 or more you should contact me and lets see if we can get you a house close to those rental payments.
I am Bob Schmalz a California Licensed Real Estate Broker, I am the founder and owner of West Los Angeles Real Estate Group, handling all Real Estate needs from residential to investments To name a few of the cities we cover in West Los Angeles; Beverly Hills, Santa Monica, Brentwood , Pacific Palisades and Malibu are some of the most popular. Our beliefs are that our clients should have the knowledge they need to make decisions in there Real Estate Goals. In this way our clients helps us make the right decisions for themselves.
FIRST TIME HOMEBUYERS:INTEREST RATES BELOW 4% + LOW DOWN PA
"Bob both bought and sold a house for me. You could not ask for a better deal maker.
In this day and age of the internet and Redfin, we don't necessarily need a broker to find us properties. Bob, however, did find me my dream home. His advice on the buying strategy was out of this world. He convinced the seller and his agent to accept my offer before the open house. The seller had three other offers before the open house, but Bob sold them on me by putting together a full package including my resume to convince them that I was a serious buyer who would be able to close with no issues. The open house came and the seller received 10 backup offers. If he hadn't advised me on the strategy we used, I would have been in the middle of a bidding war on the house. And to cap it off, the accepted offer was below their listing price.
Bob knows the West LA market very well, but much more importantly, is one of the best salesman I've ever met. When you are negotiating, you would not want him on the other side."