Say "Hello" to the CALHFA Program! Today I'm happy to introduce you to a TRUE no money down loan! The CALHFA Program will lend you the down payment, that will be your Second Loan @ 1% Simple Interest with NO payments. They will lend you Closing Cost at ZERO interest rate with NO payments, that will be your Third loan. And of course, your first Loan will come with a slightly higher rate. Now many ask, when do I have to pay back the 2nd and third loan? The answer is when you re

Not Every Home Might Be Worthy of Your Mortgage A property needs to qualify for the loan just as much as the Buyers do. I have many buyers that find some properties on their own and ask me to schedule a viewing. However, once I review the property online, I can see that the property will NOT qualify for the financing. The property you choose has to qualify just like the Buyer does. The lender does not want to put the Buyer in a situation where the Buyer has to choose to fix t

Want to Get into Flipping, But Don't Know Where to Start? You're a first-time buyer and you've found the right home, but it needs a little work. The financing of a Fixer Upper can be a little steep. Down Payment can be up to 30%, and a Hard Money Loan can be up to 12% Payments. Not to worry, there's another possible solution. FHA 203K, this allows you to roll in the costs of the repair along with your Mortgage Payments for 1 Year. This is perfect for a short-term investment s

Rest Easy in the Wake of Tragedy What is a Probate? A probate is a legal procedure transferring the assets from a deceased individual to their heirs. The best solution to escape Probate is a Living Trust. The living owners of the home are Trustees of their Living Trust. However, when those individuals pass away, the Successor Trustee (individuals who were pre-selected) take over. A normal probate normally can take anywhere from 9-18 Months depending on the circumstances and c

But Where to Start? You found the right home and you're ready to make an offer. In making the offer, you can go many ways, but most buyers either make an offer at the best price possible or make an offer at close to what your top number may be. When this occurs, you are hoping you get a Counter Offer, saying, Give us Highest and Best. Which is what most Sellers will do.  However, what just happened to one of my Buyers was, they did not receive a Counter asking for Highest and

What Do You Need to Know? What is a PRE-LISTING INSPECTION REPORT? These are the same Inspection Reports that a Buyer may order in their Investigation Period.  What INSPECTION REPORTS are required? While not required; they are recommended to have. I normally suggest starting off with General, Sewer and Termite Inspections.  What is INSPECTION REPORT for? The technician will inspect the home which you, Buyer are in escrow with and alert you of items that need attention, Items

Which Type of Loan Works Best for You? Take a look at the Mortgage Rates today. Notice the “30 Yr Fixed” is at “6.07%”. This is commonly known as a Conventional Loan. However, the “30 Yr FHA” is @ 5.74%”.    Why would you want to use a Federal Housing Administration (FHA) versus Conventional Loan? It comes down to personal preference.  With a Conventional Loan, you will need 20% to escape from paying Private Mortgage Insurance (PMI). If you put less than 20%, you will have PM

Curious About Who's Buying? It might be easy to imagine that no one is buying a home with prices the way they are. Unfortunately, the truth is far from that. Transactions are still opening and closing on a daily basis all across Los Angeles County. Waiting for a drop in prices might sound like a good idea, but the problem is that people have been waiting YEARS for the same result. When prices do drop (which there's no guarantee or even estimate for), you'll find the market

This week's a short one yall! My Wife & I are in Las Vegas celebrating the New Year  and her Birthday , so today's information is just going to be a small little tidbit! Good News Regarding the Latest Real Estate Data! Why is the Pending Home Sales Report important to you? This report forecasts the potential closed transaction in the next 30 days. This also informs you of the activity in the current market.  Currently, for both month over month and year over year, we are pos

It May Take A Moment Before the Stars Align... As a buyer, you're going to fall in love many times over with a home that we see. We are going to make the offer, and we lose it because someone made a higher offer or offered with better terms than you. This WILL happen in your experience as a Buyer, no doubt. What will occur after some time is that you’ll get the process and finally make that strong offer that we need to get you into escrow with your home.  On the other hand, a

Found A Low-Priced Home in Your Favorite Neighborhood? If you've found a price on a Home that's just Too Good to Be True , sorry to say, it most likely is. It's a strategy called Competitive Pricing . I too have been guilty of doing the same. Our job as an Agent, who represents the seller, is to get as many eyes on that property and to get the highest offer possible.  But now you're a Buyer, what do you do when you see a price too good to be true? First of all, when you start

Helping You Understand the Lingo! On the first Wednesday of every month, I review the Real Estate Market so you don’t have to. We call it the “ State of the Market ”! In the video, I review some items that some people may not be familiar with, or may not know how they apply to themselves as a consumer. Starting off with: Appreciation, Year Over Year This percentage will compare the appreciation from its current year to last year. Why is this important? You want to buy where a

What the Industry Doesn't Want You to Know! You DON'T need 20% down payment to buy a property! You can buy a 1-4 Unit Property with JUST 5% Down.  Fixer uppers are NOT for Investors only. You can buy with FHA 203K. Through this program, they will lend you the funds for repairs. You can buy after Bankruptcy. With a BK 13, you have to wait 2 years after the dismissal date. With BK 7, you have to wait FOUR years. And of course, good credit after any BK. It's even possible to Buy

When you enter into escrow, there are many companies and individuals that will start working for your benefit. Let’s dive into this and find out who the Players are! On the Real Estate side:  Listing Agent, that agent represents the seller.  Buyer’s Agent, that represents the buyer.  You could have one that represents both, that is called a DUAL agent.  Outside of the Agents, we have: Escrow and Escrow Officer. This is a third neutral person that is supposed to follow your Re

Contract Deadlines Yes, we have contract deadlines. The entire Purchase Agreement is based on someone's promise to do something at a given point. Side Note; Make sure to ask your Realtor or Escrow Officer for a Copy of the Contract Deadlines! So, let’s get into it, Deadlines to Keep an Eye out for: Deposit of your Earnest Money Deposit Inspections - Such as HVAC, Pool, Etc Property Investigations - Any Investigations you would like done to be at ease. Review of Disclosures -

What is Escrow Impounds? This is NOT to be confused with the Escrow process. Your servicer, the company that collects your monthly mortgage payment, calls it, "Escrow Account or Impounds”. Part of your agreement when you signed the loan documents, that your servicer was going to collect with your monthly mortgage payment which included your Hazard Insurance, Property Taxes and Mortgage Insurance. Your servicer collects this in advance and when they get the annual invoice, the

I have many clients that ask me all the time, "Robert are prices adjusting a bit, are prices coming down a bit?" and the answer is Yes ; it just depends on the area and the property itself. In certain areas the Supply and Demand, or inventory, where the seller gets what they want and the buyer gets what they want, is normally about six months. In those areas you have buyers adjusting a bit on the price and you have sellers accepting that because they see the inventory in cer

Hello Folks, We have some exciting news for you today The Federal Reserve has made the decision to cut the Fed Rate by 0.5% in an effort...

Hello Folks, So recently I have heard many individuals speak on the Real Estate Market. As an individual that is in the trenches,...

It’s been quiet lately … too quiet. By quiet, I mean no more headlines about 100 people crowding into an open house, or bidding wars...