You have been trying to buy a home in Los Angeles for a long time now. How has it been going for you? Don’t answer that. I know. Depending on the area you are looking in or the type of home, either there is little or no inventory and huge competition or inventory is listed […]
How Can I Buy a Home in This Crazy Los Angeles Real Estate Market? Read More »
By now I am sure you have heard of the proposed new tax bill currently being proposed in Washington, and you will certainly know that this would be a disaster for the housing market, especially in California. Los Angeles homes for sale by community Here is what is proposed: The interest deduction cap will be
Call Your Local Representatives. Tell Them to Vote No on the Proposed New Tax Bill Read More »
If you are a Los Angeles first-time home buyers you need to be aware of costs for home ownership over and above the Principal, Interest, Taxes and Insurance (PITI), amount presented to you by your Lender. Some will be monthly, others may be a one-time initial cost. These are some points to consider: Utilities: gas,
Los Angeles First-Time Home Buyers Beware of Hidden Costs Read More »
If you are a first-time home buyer in Los Angeles and think that you have to settle for one of those starter homes, think again! Los Angeles home prices are somewhat stable, and mortgage interests are still historically low. First time home buyers can afford more than in previous times. Also, they don’t have to
Buying your First Los Angeles Home – It Doesn’t Have to be a Starter Home Read More »
Gene Mundt is a mortgage banker with Chicago Bancorp in Chicago. He writes extremely insightful articles on the mortgage industry. Much of what Gene writes is universal and relates to the Los Angeles home buyer. Today, Gene talks about the language of real estate financing. If you are buying a home in Los Angeles you
Understanding the Language of Real Estate Financing Read More »
Seller Concessions, also referred to as a Seller Contribution, is when a buyer asks the seller for a financial contribution towards their closing costs, escrows and/or pre-paids. Not all sellers will give a contribution and some lenders/loan programs may have restrictions on seller concessions, which may include not allowing them. Now there are a few
What are Seller Concessions? Read More »
If you are on the fence about buying a Los Angeles home, consider that the tax benefits of Los Angeles home ownership can be attractive. What are the tax benefits of buying a Los Angeles home? Mortgage interest reduction. A Los Angeles homeowner can deduct the interest on a mortgage up to $1 million on
What Tax Benefits Can I Expect When Buying a Los Angeles Home? Read More »
The Los Angeles area provides many neighborhoods which are populated by all ages and types of young adults. Young people are attracted to the culture, diversity, night life and entertainment venues as well as the interaction with people in their age range. Los Angeles encompasses many miles of cities which are heavily populated by this
The House of Representatives voted today to extend the home buyers tax credit, expanding it to include existing homeowners who have lived in their current residence for five a minimum of five years. The tax credit is extended until April 30, 2010 with an extension of 60 days if a binding contract is in place
Congress Approves the Expansion of the Home Buyers Tax Credit Read More »
Strange as it may seem, the less you put down on a house, the lower your interest rates will be. However, this may not always be of benefit to the borrower. For example, in late August a borrower putting $80,000 on a $400,000 purchase, with a good credit score, around 720, would have qualified for
Smaller Down-payments May Result in Better Interest Rates – But Read More »
