Buying a house can be challenging when competing with other bidders. Providing a mortgage commitment letter with your offer shows you're a serious buyer. There are conditional and firm commitment letters, both requiring specific conditions to be met. The letter does not guarantee approval but is a crucial step in the homebuying process.
Late-Fall 2023 Median Home Prices: Median price rises across Southern California by 5.1%.
County-wise Median Prices (2024): Orange County leads with $1.1 million, followed by Los Angeles, San Diego, Ventura, Riverside, and San Bernardino.
While rents are still 29.9% higher than before the pandemic, the yearly increase in February was only 3.5%.
This slowdown is likely due to a combination of more rental housing being built and a general economic slowdown.
Coverage:
– Most multi-unit buildings in California (exceptions apply).
– Single-family homes owned by corporations, REITs, or LLCs with corporate members (unless exempt).
Exemptions include:
– New buildings (built within the last 15-yr).
– Owner-occupied duplexes.
– Units with stricter local rent control.
– Single-family homes as separate units.
To find the best mortgage, compare offers. A down payment is an upfront payment, usually a percentage of the house's price, showing financial investment. Different loans require varying down payment percentages. Some lenders offer low down payment options. Larger down payments can lead to lower interest rates and monthly payments.
Every show home uses tactics to create an idealized version of a property. Tricks include creating a lifestyle story, using pitch-perfect props, subtle symmetry, heating up the space, omitting TV screens, using mirrors for illusion, showcasing high-end finishes, clever lighting, missing internal doors, uniform flooring, child-sized furniture, and missing essential items like fridges.
Tax Relief Eligibility: Property damaged by calamity may qualify for tax relief.
Proposition 19 Transfer: Allows tax base transfer for substantially damaged properties.
Breaking news! Interest rates at pre-pandemic levels, mortgage rates at all-time low, announces Fed.
It's a dream come true for homebuyers who have been waiting for the perfect time to enter the market!
Dream on… Happy April Fool’s Day!
Easter is a Christian holiday that celebrates the belief in the resurrection of Jesus Christ.However, according to many theologians, Easter originally began before the arrival of Christianity.It is believed that Easter is named after the Anglo-Saxon goddess of the dawn and spring, known as Eostre.Examples of Easter traditions include Easter eggs and related games such as egg rolling and egg decorating.
As of 2024, California cities emerge in Stacker's list of metros with the fastest home sales.
Bakersfield
– Median sale price: $355K
– Total homes sold: 514
Stockton
– Median sale price: $515K
– Total homes sold: 367