Okay you now have decided to buy a house but where should you live. Of course you want to live in Santa Monica or Brentwood and not in West LA or Mar Vista. So off you go with budget in hand and discover unless you want to sleep standing up, not have more than 3 people in your home at the same time and finally not look at that “popcorn ceiling” it is time to turn to “plan B”. Balancing Budget, Loctaion and Details of the home is the tricky part of buying a home unless you have unlimited funds and then you can stop reading now. Also pick up that damn phone and call me.
So for the rest of you we need to do the this juggling of what is important to us, what is the best buying opprotunity and what represents a potential good investment for resale in the future. Remember most buyers stay in there house a maximum of 7 years and firsttime buyers 5.
Saw a great article, 5 Tips In Choosing A Neighborhood , it wont answer all your questions but it will give you a good starting point of where you should look
What can I say that will change your mind?? I know it sounds like I want to convince you to go through a Realtor, like myself , so we can make a commission… This is not true … I say it because you will get hurt and lose much more than paying a commission. Not to mention that your contracts can be null and void allowing the buyer to get out of the contract. For you FSBO’s (For Sale By Owners) out there beware you are in a mine field and it is just plain idiotic to try and sell it yourself. Here is an artcle you should read… For Sale By Owner — FSBO
MORTGAGE RATES MAKE HOUSING AFFORDABLE
DO NOT TRY TO BEAT THE MARKET
I really believe this is a once in a lifetime opportunity.
Yes I am a salesman however it is true, now maybe it will go down some more but when it is finished going down and starts to go up it will not come back down to this low for a long time, if ever. We are speaking about 4.4% for a fixed and 5 year adjustable are approaching 3% with various lenders.
To read this mornings complete Market Watch article follow this link; 4.4% Interest Rates
Does it really matter if it goes down another 1/4 point especially if you are gambling and it could just as well go up. If you are renting you need to really think about this. Call me at 310.505.5571 or email at bob_schmalz@wlaregroup.com to find out if this is right for you.
- Interest rates low , down payments as low as 3 1/2 %
- 2 bedroom condos in Santa Monica and Brentwood for $500K or under
- 3 bedroom condos in West LA for under $525K.
- Super values for single family homes in the $700K range
If you are paying $1500 or more in rent you really need to look into this
By Bob
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Also posted in 5 year adjustable, 5 year adjustable mortgage, Adjustable Rate Mortgage, Adustable Rate, INTEREST, Santa Monica, West LA, West Los Angeles, brentwood, interest only mortgage, interest rates, interest rates today, mortage loan, mortgage, mortgage agreement, mortgage best rates, mortgage broker, mortgage brokers, mortgage current rates, mortgage fixed rates, mortgage interest, mortgage interest rate, mortgage interest rates, mortgage lenders, mortgage loan, mortgage payment, mortgage rates, mortgage refinancing, mortgages interest rates, mortgages loan, mortgages rates, rates mortgage, real estate, real estates, right time to buy a house
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In todays market a lot of people are looking at buying income property but they do not know how to figure if a property is worth the price it is listed at. How do you value a property that is a multi unit building with varying rents? I have put together a guide of the different methods Realtors use in evaluating income property. Gross Rental Multiplier or Capitalization Rate know what they are? Know how to use them? Take a look at a report I made that will help you.Looking For Income Properties Remember this is a guide only and you should discuss all Real Estate with a Professional Broker who can guide you in the use of these tools. Any questions call at 310.505.5571 or email bob_schmalz@wlaregroup.com
By Bob
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Also posted in Cash Flow, Gross Income, Investing In Real Estate, Investing in Rental Property, Investment, Investment Propert, Multi Family Homes, Multi Unit, Negative Cash Flow, Net Income, Positive Cash Flow, Real Estate Investment, Real Estate Investment Tools, Rental Cash Flow, Rental Property, Tools For Investment
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I know that we are all scared of any mortgage that is adjustable. We have come to believe the term adjustable mortgage and banking/housing meltdown must be said in the same sentence. This, of course is not true, but for the sake of this post I will not talk about causes of our economies collapse. The fact is that for Conforming Loans ($625,000 and below in the LA area) are in the high 3′s , last I looked it was 3 5/8 %. You first time home buyers, must take a look at this rate because most of you will move before the 5 years are up. See the article by clicking this link Five Year Adjustable Mortgage and look twice and do not think that an adjustable rate is a bad thing. If used correctly it will save you a lot of money!
By Bob
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Also posted in 5 year adjustable, 5 year adjustable mortgage, Adjustable Rate Mortgage, Adustable Rate, INTEREST, interest rates, interest rates today, mortage loan, mortgage, mortgage best rates, mortgage current rates, mortgage interest, mortgage interest rate, mortgage interest rates, mortgage loan, mortgage payment, mortgage rates, mortgages interest rates, mortgages loan, mortgages rates
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OR ARE YOU HAVING BUYERS REMORSE???????? COLD FEET????? DEER IN HEADLIGHTS?????
Look at this great question and answer article it is about negotiations regarding repairs the buyer wants the seller to make and the sellers offer. There is a lot of back and forth and the buyer is thinking about pulling out of the deal. Now this could apply to any comparatively minor disagreement between the buyer and the seller. However let’s be sure what the real issue is before backing out. To read the article click here. Homebuyer’s Jitters
By Bob
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Also posted in agreement forms, buy my house, buyers remorse, buying a condo, buying houses, buying market, cold feet, condo, condominium, estate for sale, estate sale, estate sales, first home buyer, first home buyers, form agreement, home agreement, home buyer, home buyers, home buying negotiations, house, houses, houses for sale, how to buy a home, inspection, inspection contingency, negotiations, real estate, real estates, repair agreement, residential agreement, should i buy a house
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Tagged repair agreement
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