buying a los angeles home: What Does it Mean When a Los Angeles Home is Listed for Sale AND Rent?
- 02/25/13 03:55 AM
When looking for a Los Angeles home to buy or rent you may find something on the market that is listed in both categories. What does this mean?
In the days when it was a buyers’ market then probably the owner needed out for one reason or another and was not sure he or she would be able to sell the home. So they put it on the market for sale.
Now, with low inventory that would probably not be the reason. It could be that the owner wants a certain price and if they don’t get it they will rent their home … (37 comments)
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buying a los angeles home: If Your Are Buying a Los Angeles Home Decide How to Take Title Early
- 02/16/13 05:26 AM
You may be considering buying Los Angeles real estate and may have luckily have identified a home and gone into escrow. Now you need to decide how you are going to take title, especially if you a taking it jointly. There are various way to take title, including:
Sole Ownership.
Co-Ownership Below are seven of the most common ways. However you should consult with an attorney and/or a CPA to find the best option for you.
Community Property: only for husband and wife. Interest is separate but management is joint. Upon death half belongs to survivor. Half can be willed … (13 comments)
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buying a los angeles home: L.A. Home Buyers Keep Making Those Offers
- 02/05/13 02:38 AM
If you are a Los Angeles home buyer right now you must be feeling extremely frustrated. You can’t get to a property quick enough to make an offer before there are three, four or more buyers ahead of you also making offers. And some of those offers are cash.
Don’t give up. Your house is out there. Just make it a point to be available the minute a property comes on the market so that you can go see it and be in at the beginning.
There are certain properties where you can only see them once you have made an offer (inside … (18 comments)
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buying a los angeles home: Buying a Los Angeles Home? Be the Early Bird.
- 01/27/13 07:02 AM
It is not fun out there if you are thinking of buying a Los Angeles Home. I have buyers who have all but given up, and buyers who continue to make offers on homes on which I have to chase the listing agents for an answer because they are so inundated with them they can't respond.
You have to have a hard heart and nerves of steel right now if you want to stay in the market.
One thing you might want to do is catch the homes as soon as they hit the market. You may find a … (13 comments)
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buying a los angeles home: Buying a Home in Los Angeles | Part 5: Make the Offer
- 11/30/12 04:52 AM
This is the fifth part of the series How to Buying a Los Angeles home.
In this post I will address making an offer once you have found THE home.
You have looked at several homes and are focussed on one on which you would like to make an offer. Backing up a little from here, don’t be afraid to make an offer on the first one you see. You don’t have to visit every home on the market. If you like it make the offer, because it is quite possible when you come back to it it may be gone.
We … (21 comments)
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buying a los angeles home: Buying a Home in Los Angeles | Part 4: Start Your Search
- 11/26/12 03:15 AM
Part 4 in the series about buying a Los Angeles home is aimed at helping you gain an edge in the search process, especially in this sellers’ market.
At this stage, you will have your financing in order in terms of knowing what you can afford and are willing to pay, you will have chosen your Los Angeles real estate agent, and have sat down with them to determine your criteria. Now you are ready to go.
How does the search process work?
Your agent will send you listings from the Multiple Listing Service (MLS) which is the collection center for most … (12 comments)
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buying a los angeles home: Buying a Los Angeles Home Part 2: Why Use and Exclusive Agent
- 11/23/12 05:49 AM
If you are selling a Los Angeles home, you will be using just one real estate agent because you will sign an exclusive listing agreement with that agent which means, yes, that you work exclusively with that agent. The work involved in selling a Los Angeles home warrants that kind of loyalty, and you as a seller will be paying commission to that agent and the co-broker who brings the buyer. Makes sense, right!
Now, if you are buying a Los Angeles home, why would you not use an agent and use one agent exclusively? There is something called a Buyer Representation Agreement which some agents ask … (18 comments)
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buying a los angeles home: Buying a Los Angeles Home? Find a Good Rental While You Wait.
- 09/29/12 03:55 AM
It’s getting tougher and tougher out there to find a home to buy in Los Angeles with the low inventory, so if your are moving to Los Angeles or downsizing your home, then a rental is going to be the way to go.
Not that rentals are easy to find. The minute the good ones come on the market they are gone. But if you know what you want and move quickly then you stand a good chance of finding the right property. This will give you a good amount of time for inventory to build and for you to find a Los Angeles home to … (25 comments)
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buying a los angeles home: Can I Negotiate the Price When Buying a Los Angeles Home?
- 08/31/12 06:34 AM
You are buying a Los Angeles home and want to know if you can negotiate the price. You certainly can. The seller would be extremely happy to accept more than the asking price.
I am singing the same old tune. Inventory is low and buyers are scrambling for the few homes that do come on the market. There are areas like North Hollywood, and Burbank where there is no shortage of inventory and the median price is around $385,000, low by Los Angeles standards, where homes are selling like hot cakes. 351 homes sold over the past 3 months at an average of … (24 comments)
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buying a los angeles home: Los Angeles Real Estate. Where Have all the Houses Gone?
- 08/21/12 04:09 AM
This is a frustrating time if you are working in Los Angeles real estate. And it is pretty much the same all over the country. Sellers are holding back from putting their homes on the market.
I presently have buyers looking in all ranges and the pickings are slim. What is on the market for a while, and anything that does come up doesn't stay on the market long.
Los Angeles home sellers, don’t be shy. I know you will get a lot of attention if you put your homes on the market, but it will be good attention. Lots of … (23 comments)
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buying a los angeles home: How a Los Angeles Realtor Can Add Value to Your Home Buying Process
- 08/13/12 03:50 AM
You will probably think that something with the title “how do I add value to the Los Angeles home buyer process“ is going to be a self-promotion extravaganza. That would be wrong. The goal of this post is simple to educate Los Angeles home buyers on the value of using a good real estate agent to guide them through the difficulties of the whole process.
I pride myself that I am a good Los Angeles real estate agent, and am drawing from my own experience of what it takes to conduct a real estate purchase from start to finish:
THE SEARCH
We need to listen and … (28 comments)
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buying a los angeles home: Los Angeles Property Taxes Explained
- 07/28/12 01:16 PM
If you are buying a Los Angeles home you are going to want to understand the property tax system, including supplemental property taxes that may be levied when a home changes ownership (there are inter-family and similar exclusions, but an expert should be consulted on those).Lo
Important Los Angeles property tax dates
The property tax year runs from July 1st to June 30 Annual tax bills are mailed out on October 1st First installment due on November 1st First installment delinquent on December 10th Second installment due February 1st Second installment delinquent on April 10th Los Angeles property taxes can be loosely estimated around 1.25%, and the taxes will increase when a property … (12 comments)
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buying a los angeles home: Buying a Los Angeles Home With Rental Prices So High Just Makes Sense
- 04/14/12 02:50 AM
An article in today’s Los Angeles Times talks about the shortage of rental properties in Los Angeles and Southern California and predicts that rents will rise 10% over the next two years.
Rents in many if not most area markets are already on the way up, and rental properties in Los Angeles
What does this mean? Well, with a shortage of properties, and renters competing for those available, investors will be jumping into this market and buying up suitable rental properties, especially since construction of new apartment buildings is slow.
When renters realize it is difficult to find a good rental at a reasonable … (22 comments)
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buying a los angeles home: What Exactly is a Buyers' or a Sellers' Market in Real Estate
- 03/29/12 05:03 AM
When buying or selling real estate in Los Angeles we often talk about the market as being a buyers’ or a sellers’ market, based on the absorption rate.
The absorption rate is the number of months it will take to sell the existing inventory based on prior months’ sales. 6 months is a balanced market, under six months a sellers’ market, and over six months a buyers’ market.
However the market is neither a buyers’ or sellers’ market if no one is buying or selling, and ultimately we rely on sellers putting new homes on the market to spur the buyers out there who … (30 comments)
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buying a los angeles home: Are Los Angeles Open Houses Going the Way of the Dodo?
- 01/30/12 09:16 AM
I read Susan Haughton's post recently discussing how effective holding open houses is these days. A few years ago that was the best way for a home buyer to find Los Angeles homes for sale.
Things have changed, and Los Angeles home buyers are increasing searching online for listings. Even if they are using the services of a Los Angeles Realtor®, they continue to use the internet on their own.
When something comes up that interests a buyer they generally want to see that property immediately and not wait until the open house which might be a week or so ahead. Especially in this … (36 comments)
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buying a los angeles home: Can You Buy a Los Angeles Home for a Bargain?
- 01/20/12 04:03 PM
Did that catch your eye? Unfortunately, leaving investors out of the equation, as a Los Angeles home buyer you are probably not going to find that bargain home you are looking for.
Why?
Because the real bargains often don’t make it to the general market. They are bought through word-of-mouth or on the courthouse steps. And, if by some chance a good one slips through, there will be a buying frenzy with multiple offers, making the home no longer a bargain.
Also, many of the neighborhoods of Los Angeles were not hit as badly as the rest of the country and here you absolutely get what you pay … (23 comments)
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buying a los angeles home: When Buying a Los Angeles Home Always Inspect, Even if it is New Construction
- 12/22/11 06:31 AM
I am working with a first-time Los Angeles home buyer who is in the process of purchasing a brand new construction home. The home is a stand-alone condominium, one of four on the lot.
It would seem tempting to waive the inspection on a brand new home, because after all what could be wrong! There are building codes to be met and one would think even a visual inspection by the builder would catch the odd mistake.
The California real estate purchase contract requires that a home buyer conduct an inspection or waive the right to do so. As I mention above, the temptation would be to waive … (35 comments)
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buying a los angeles home: I Want to Find a House First and then I will Talk to a Lender!
- 11/11/11 08:51 AM
I was just approached by a potential buyer, enquiring about a Los Angeles home for sale.
My first question to her was whether she had spoken to a lender. Her answer was no. I told her that she needed to do that before starting the process of buying a Los Angeles home. Her answer: "I just don't want to talk to a lender and not find a home. So I figure I could just work backwards."
We do not work backwards when buying a Los Angeles house. We look and work forward. The very idea of working backwards is a negative … (145 comments)
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buying a los angeles home: If you are Thinking of Buying a Los Angeles Home, Rein in your Holiday Spending
- 11/05/11 08:45 AM
You are excited about buying a Los Angeles home and have been very good about keep your credit immaculate. However the holiday season looms putting yourhard work in jeopardy.
Your shopping list sits in front of you beckoning. You are probably not going to pay cash for all those gifts, or write a check. You may open store credit, apply for a new credit card, or simply jack up your balance on your existing credit card. Too many enquiries on your credit in a short period of time is going to cause your credit score to drop. Simple opening a new line of … (45 comments)
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buying a los angeles home: How May I Help you with your Los Angeles Real Estate Needs?
- 11/01/11 07:43 AM
Buying a Los Angeles home, selling a Los Angeles home, or even looking for a Los Angeles rental can be a confusing task. You don't know where to begin.
What might you need help with?
Selling a Los Angeles home How are you going to price your home? Pricing is an art these days. Price it to high and it is going to sit on the market, price it just right and you may encourage multiple offers and get more than you asked for. Is your house ready to be put on the market or is there something you need to do to prepare it … (12 comments)
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When looking for a Los Angeles home to buy or rent you may find something on the market that is listed in both categories. What does this mean?
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