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

Posts tagged "Residential Real Estate"

List on Wednesday to get the most from a home

According to Redfin, a California home seller should list their property on a Wednesday. The real estate brokerage looked at 100,000 home sales to find that properties listed on this day of the week sold for $2,023 more than properties listed on a Sunday. While Wednesday is ideal for those who are looking to make the most from their sale, Thursday is best for those who want to sell their homes fast.

What sellers should ignore when putting homes on the market

A lot of people in California and throughout the country may be eager to get as much advice about selling their home as possible. However, it is important to understand that not all advice or insight is relevant to an individual's situation. In fact, a lot of advice is considered to be outdated or only specific to certain regions of the country. For example, people may hear that they need to list their homes in the spring.

Global demand and California wealth driving up luxury home prices

Los Angeles has emerged as the leading market in the state for luxury residential real estate. In 2017, home prices set records. The top 10 home sales that year exceeded $5.4 million. Both domestic and international buyers have been choosing the Los Angeles area as their ideal location for primary or secondary residences. In 2016, the California Association of Realtors estimated that only 13 percent of luxury homebuyers sought property purely as an investment.

How mortgage rate increases can impact home buyers

In Los Angeles and other parts of California, it is not uncommon for home sellers to receive several offers from buyers. This is partially because there are fewer homes available on the market. Higher mortgage rates could make it even harder to find an affordable home in markets throughout the country. The interest rate on a 30-year fixed loan has climbed to 4.42 percent from 3.95 percent at the start of 2018.

California market seen as stable for now

According to Fitch Ratings, the average home price in parts of Southern California was 5 to 9 percent higher in the fourth quarter of 2017 than what should be expected given economic fundamentals. It also says that 17 percent of all housing nationwide is overvalued by 10 percent. National housing prices as a whole were 3 percent higher than they should be in the fourth quarter of 2017 according to Fitch. Although housing prices are higher than what may be expected, a price correction may not be imminent.

Bitcoin is becoming accepted in the real estate sector

Residents of California may find that bitcoin is useful when making real estate transactions. In 2017, a home in Manhattan Beach valued at $3.23 million was purchased with 3,300 bitcoins. Those bitcoins are now valued at roughly $34 million. Proponents of using bitcoin to make real estate transactions say that it is faster and easier because there is no need for bank involvement.

Home sales sluggish again in January

People bought fewer new single-family homes in January. According to the Commerce Department, sales in this category dropped 7.8 percent during that month to a seasonally adjusted 593,000 units. That was the lowest level since August 2017, and it was the second straight month in which home sales declined. Some believe that this may be a sign of a slowing housing market in California and other states.

Emotions add to the price tag of homes for first-time buyers

The purchase of a first home in California represents an exciting achievement. People typically work and save toward this goal for a long time, but a study produced by the Federal Housing Finance Agency reveals that first-time buyers pay more than veteran home shoppers. Two economists looked at data from 1.7 million housing transactions between 2012 and 2016 and calculated that first-time buyers spent an average of 0.79 percent more than people who had bought homes previously.

Barriers to home ownership for younger people

Society may think that young people living in California don't want to buy a home because it would make it harder to buy other things. However, the reasons why younger people don't want to buy a home aren't that out of the ordinary. For instance, many who went through the last recession may be wary about using credit. Therefore, they may not have the credit history needed to obtain a mortgage.

An overview of the 2018 housing market

California residents and others who are looking to buy homes in 2018 may face a couple of key challenges. First, mortgages are expected to get more expensive as the year goes on. Rates could rise to as high as 4.5 percent by the end of 2018. Second, any available homes that go on the market are expected to be sold quickly. According to an economist at Redfin, home sales will increase by 3 percent in 2018 compared to 2017.

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