These days, there are more bidding wars for each home listed for sale. Some homebuyers offer to pay more of the closing costs. It’s important buyers and sellers budget enough for closing costs. The purchase agreement reflects the terms, conditions, and responsibilities of who is in charge of each expense. Closing Costs Definition The buyer Read more about Closing Costs[…]
The California Housing Market is cooling down. This is the best moment for homebuyers who don’t want competition when placing their offers. In California, the housing market has begun to stabilize around the medium-term levels. Economic Factors The number of continuing claims for unemployment in California dipped to an 82-week low of 461,609 last week. Read more about California Housing Market is Cooling[…]
Selling a home right now is like going to a dance and everyone wanting to dance with you. The 2021 high home price surge came from solid unsatisfied housing demand. Home Price Surge Causes Wall Street Journal considers that the real factors sustaining the housing demand are: Millenials demanding new homes Homeowners not moving to Read more about 2021 Home Price Surge[…]
One of the most serious economic impacts of the pandemic is foreclosure, as thousands of families could end up homeless, and rental unit owners could lose their investment. Homeowners can avoid foreclosure due to Covid with the following program. The Foreclosure Prevention & Mortgage Relief Program is a $5.5 million initiative developed by the Los Read more about Avoid Foreclosure due to Covid[…]
Through this program, builders and homeowners have access to pre-approved accessory dwelling unit building (ADUs) plans to allow a faster and less expensive permitting process. The major Garcetti said: “This program is about making ADUs more accessible, more affordable and more beautiful — and making them part of the blueprint of our efforts to tackle Read more about Major Garcetti pushes the building of ADUs units[…]
Los Angeles County Supervisors and Los Angeles City Council approved a fund to bring support for renters and landlords during the pandemic COVID-19 times. Los Angeles City will provide to its residents two-monthly $1,000 per household, directly to landlords. If the debt to landlords is less than that, the household will receive a credit for Read more about Support for renters and landlords[…]
Second-Hand homes are a good alternative to buy when you can’t afford a recently built home. Regularly, Second-Hand home prices are more affordable and the reason is the house might not have a complete upgrade of the main components. For example, the house might not have a new roof in the last 30 years, or Read more about Second-Hand Homes – what to consider when you buy one[…]
CoreLogic projects that Southern California house prices will continue rising. Instead, local home prices are forecast to rise 3% in Los Angeles County, 5% in Orange County, and 6% in the Inland Empire, by April 2021. CoreLogic projects U.S. home prices will drop 1.3% year over year by April 2021 in 41 states in the Read more about SoCal Home Prices will continue rising[…]
The federal law, the Corona-virus Aid, Relief, and Economic Security (CARES) Act, puts in place two protections for homeowners with federally backed mortgages: • First, your lender or mortgage loan servicer may not foreclose on you for 60 days after March 18, 2020. The CARES Act prohibits lenders and servicers from beginning a judicial or non-judicial Read more about New repayment options for homeowners struggling due to COVID-19[…]
When buying a home, several factors must be considered. In addition to the number of beds, baths, areas and needs of our children, home buyers today try to better meet the needs of their pets. In a recent NAR report, we found that 63% of American households currently have a pet and an additional 3% Read more about How our pets influence our housing decisions[…]