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Residential Real Estate Archives

When it's better to buy instead of rent

Individuals in California and throughout the country generally have the ability to either rent or own a property. In some instances, it can be in a person's best interest to rent instead of buy. However, let's take a closer look at some of the reasons why a person may want to buy instead of rent. For instance, those who are looking to become a permanent member of a community may be best served by purchasing a home.

Building spec homes as a real estate investment

The real estate market is booming in many places in California, and it may be tempting to build a spec house for people who want to make money from an investment. Where housing supplies are limited and many people are interested in newly built properties, there may be buyers lined up to repurchase a spec home almost as soon as it is completed. Still, there are reasons why some investors may want to consider different options when choosing the most profitable path in real estate investment.

Why home buyers need cash reserves

Those who are looking to buy a home in California or any other state must be financially stable enough to do so. Generally speaking, banks will require borrowers to have an equivalent of up to three months' worth of income in a savings account. Furthermore, buyers may need to have thousands of dollars available to pay closing costs and make an earnest deposit. Banks generally require borrowers to have a cash reserve to ensure that they have money available to make future payments.

Tips for selling homes during the winter months

Selling a home during the holiday season may be a challenge for homeowners in California and throughout the country. Part of the challenge of selling a home in November or December is that real estate agents, loan officers and others may have limited hours. This means that there is a higher likelihood that an inspection or an appointment with a loan officer takes more time to schedule or gets postponed.

Pros and cons of buying a relatively expensive home

People in California who are in the market to purchase real estate might fall in love with a home that puts the others in the neighborhood to shame. The highest-priced home on the block, though, is sometimes the worst with regard to future value and potential gains. There are pros and cons to buying the most expensive house in the area; homebuyers would do well to consider both before making a purchase decision.

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.

Tips for selling small homes

Tiny homes have become popular in California and throughout much of America. Generally speaking, these homes offer about 400 square feet of living space, and they are designed for those who are seeking a minimalist lifestyle. While they may be attractive to their current owners, tiny homes can be difficult to sell. This is partially because they won't be included on the multiple listing service, or MLS, which means that sellers have to reach out to buyers directly.

Buyers may not know that their homes are haunted

If California homeowners believe that their homes are haunted, they may not share that belief with potential buyers. A poll from Realtor.com found that 60% of those who purchased an allegedly haunted house didn't know about its haunted status prior to doing so. The poll also found that home buyers weren't necessarily concerned about living in a haunted house or living next to a house that neighbors thought was haunted.

How the economy impacts real estate

California residents may have heard predictions of an upcoming economic slowdown. However, there is no way to tell when the economy may start to slow, and there are many signs that the economic conditions may remain strong through 2020. Regardless of what the economy does, real estate professionals say that the housing market has upside to it. This is partially because there is a lack of homes available to buy today, which means that more will need to be built.

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L. Scott Karlin

L. Scott Karlin

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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...

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Michael J. Karlin

Michael J. Karlin

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

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