The Karlin Law Firm LLP

Providing quality legal services to statewide and national clients in ADA defense, Personal Injury, business and real estate for more than 35 years

866-500-8932
Email Us
Practice Areas

Reasons some are putting off a home purchase

Only 21% of Americans think that now is a good time to buy a house according to a poll conducted by Fannie Mae. This is down from 28% from September, and the new data follows a summer in which the overall housing market was strong. Buyers in California and throughout the country feel that homes are becoming less affordable. Prices have been on the rise in recent months as mortgage interest rates have fallen and a larger number of buyers entered the market.

However, as demand increases, mortgage rates are starting to go up as well, and that often leads to higher mortgage payments even if home prices stayed flat. According to one economist, stagnant wages are also making it difficult for individuals to afford homes in many cities. Prices are expected to rise in 93% of metropolitan markets according to data from the National Association of Realtors.

About 10% of homes on the market today are priced at $200,000 or less. In 2009, about 40% of homes were in this price range, and there has been a noticeable lack of new starter homes being built. A lack of supply could be holding some buyers back even if they aren't concerned about rising interest rates. There is some belief that home sales could slow if prices rise faster than household incomes.

It is generally a good idea to have an attorney review a purchase contract before a real estate closing. This may ensure that a buyer understands what the agreement says and what happens if the deal isn't finalized or isn't finalized in a timely manner. An attorney may also work to ensure that there are no issues with a home's title and that necessary disclosures have been made before the sale becomes final.

No Comments

Leave a comment
Comment Information

Contact Us Today

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

L. Scott Karlin

L. Scott Karlin

Attorney Profile
David E. Karlin

David E. Karlin

David E. Karlin is a California attorney with a primary focus on business and real estate, including law and legal issues...

Attorney Profile
Michael J. Karlin

Michael J. Karlin

Michael J. Karlin is a Southern California based attorney whose practice primarily focuses on Entertainment Law. Michael began...

Attorney Profile

Recent Articles

ADA Fraud Reported

A recent article on the news concerns a man in Riverside County who allegedly has attempted to obtain money from property owners and businesses based on alleged violations of the Americans with Disablities Act (ADA). Read More

Tustin Office
13522 Newport Avenue, Suite 201
Tustin, CA 92780

Phone: 714-881-0054
Tustin Law Office Map

Newport Beach Office
2901 West Coast Highway, Suite 200
Newport Beach, CA 92663

Phone: 949-427-9328
Newport Beach Law Office Map

Carlsbad Office
2173 Salk Avenue
Suite 250
Carlsbad, CA 92008

Phone: 760-407-2409
Map & Directions

Riverside Office
6809 Indiana Avenue
Suite 100
Riverside, CA 92506

Phone: 951-643-8769
Map & Directions

Los Angeles Office
1100 S. Hope Street
Suite 103
Los Angeles, CA 90015

Phone: 213-519-5633
Map & Directions

Fresno Office
1444 Fulton Street
Fresno, CA 93721

Phone: 951-373-4384
Map & Directions