Long Beach and Lakewood Real Estate BlogRecently posted or modified blog posts in the category - Buying a Homehttps://www.superbroker.com/blog/Copyright SuperBroker.com2024-03-27T17:11:03-07:00tag:superbroker.com,2012-09-20:25053The Benefits of Pre-Qualifying for a Mortgage Before Buying a Home<img src="https://assets.site-static.com/userfiles/1649/image/Benefits_of_Prequalifying.jpg" width="940" height="788" />
If you're considering buying a home, it's important to understand the mortgage pre-qualification process. Pre-qualification can give you a better understanding of how much you can afford to spend on a home, and it can also give you an advantage in the home buying process. In this article, we'll explain what pre-qualification is, how it works, and the benefits of getting pre-qualified.
What is Pre-Qualification?
Pre-qualification is the process of determining how much money a lender may be willing to loan you to buy a home. This is done by evaluating your financial information, including your income, debt, and credit score. Pre-qualification is not a guarantee of a loan, but it can help you understand your financial situation and give you a better idea of how much home you can afford.
How Does Pre-Qualification Work?
The pre-qualification process is relatively simple. You'll need to provide a lender with information about your income, debt, and assets. The lender will evaluate this information and give you an estimate of how much you may be able to borrow. The pre-qualification process does not involve a detailed analysis of your credit report or an in-depth review of your financial situation. However, it's important to be honest and accurate when providing your financial information to the lender.
What are the Benefits of Pre-Qualifying for a Mortgage?
There are several benefits to getting pre-qualified for a mortgage:
Helps you understand your budget
Pre-qualification can help you understand how much home you can afford based on your income, debt, and other financial obligations. This can help you set a realistic budget for your home search and avoid looking at homes that are out of your price range.
Gives you negotiating power
Being pre-qualified for a mortgage can give you negotiating power when making an offer on a home. Sellers may be more willing to accept your offer if they know you're pre-qualified for a mortgage, as it shows that you're a serious buyer who is financially able to purchase the home.
Streamlines the home buying process
Getting pre-qualified for a mortgage can help streamline the home buying process. Once you've found a home you want to purchase, you'll already have a good idea of how much you can afford to spend and can move quickly to secure financing. This can help you avoid losing out on a home to another buyer who is already pre-qualified for a mortgage.
Helps identify credit issues
During the pre-qualification process, a lender will review your credit score and report. If there are any issues with your credit, such as missed payments or high balances, the lender may be able to provide guidance on how to address these issues before applying for a mortgage. This can help improve your chances of getting approved for a mortgage and can also help you get better terms and interest rates.
Can save time and stress
Going through the pre-qualification process before you start looking at homes can save you time and stress. By knowing how much you can afford to spend, you can avoid looking at homes that are outside of your budget. This can save you time and stress by focusing your search on homes that are a good fit for your budget and financial situation.
How to Get Pre-Qualified for a Mortgage
If you're interested in getting pre-qualified for a mortgage, here are the steps you can follow:
Gather your financial information
Before you contact a lender, gather your financial information, including your income, debt, and assets. This information will help the lender determine how much you may be able to borrow.
Contact a lender You can contact a lender directly or work with a mortgage broker who can help you find the right lender for your needs. The lender will ask you questions about your financial situation and may also request documentation, such as pay stubs, tax returns, and bank statements.
Complete the pre-qualification process Once the lender has evaluated your financial information, they will give you an estimate of how much you may be able to borrow. This estimate is not a guarantee of a loan, but it can help you understand your budget and give you negotiating power when making an offer on a home.
Pre-qualifying for a mortgage can be a valuable tool in the home buying process. It can help you understand your budget, give you negotiating power, streamline the home buying process, identify credit issues, and save time and stress. By following the steps outlined in this article, you can get pre-qualified for a mortgage and be on your way to finding your dream home.
Are You Buying or Selling a Home in Lakewood?
If you’re not already living in Lakewood, or if you are but you’re looking for a new home, we’re here to help. Call us right now at 562-882-1581 or start browsing our <a href="https://www.superbroker.com/lakewood/">Lakewood real estate listings</a> to find your dream home today!
You can also browse:
<a href="https://www.superbroker.com/long-beach/">Long Beach real estate listings</a>
<a href="https://www.superbroker.com/anaheim/">Anaheim real estate listings</a>
<a href="https://www.superbroker.com/bellflower/">Bellflower real estate listings</a>
<a href="https://www.superbroker.com/signal-hill/">Signal Hill real estate listings</a>
2024-03-19T07:00:00-07:002024-03-27T17:11:03-07:00Allison Van Wigtag:superbroker.com,2012-09-20:250565 Great Neighborhoods to Buy a Home in Long Beach and Lakewood<img src="https://assets.site-static.com/userfiles/1649/image/The_5_Best_Neighborhoods_to_Buy_a_Home_in_Long_Beach_and_Lakewood.jpg" width="940" height="788" />
Long Beach and Lakewood are great places to buy a home with a variety of unique neighborhoods to choose from. Whether you're looking for a quiet suburban neighborhood or a livelier urban area, there is something for everyone. In this article, we'll explore the 5 best neighborhoods to buy a home in Long Beach and Lakewood.
Naples Island
Naples Island is a unique neighborhood in Long Beach known for its picturesque canals and beautiful waterfront homes. This neighborhood is perfect for those looking for a waterfront property with easy access to the ocean. Naples Island also has a variety of parks and outdoor spaces, making it a great neighborhood for families.
Related: <a href="https://www.superbroker.com/blog/buying-a-home-as-is-explained/">What does it mean to buy a home “as-is”?</a>
Belmont Shore
Belmont Shore is a vibrant neighborhood in Long Beach that offers a mix of urban and suburban living. This neighborhood has a variety of shops, restaurants, and entertainment venues, making it a great location for those who want to be close to the action. Belmont Shore is also home to the popular 2nd Street shopping and dining district, which attracts visitors from all over the region.
Lakewood Village
Lakewood Village is a charming suburban neighborhood in Lakewood that offers a mix of single-family homes and townhouses. This neighborhood is known for its tree-lined streets, parks, and community events. Lakewood Village is a great location for families who want a quiet and safe neighborhood with easy access to schools, parks, and shopping.
Related: <a href="https://www.superbroker.com/blog/7-things-you-need-if-you-want-to-age-in-place/">7 things you need to know if you want to age in place</a>
Bixby Knolls
Bixby Knolls is a historic neighborhood in Long Beach that offers a mix of homes and apartments with a variety of architectural styles. This neighborhood is known for its walkability and community events, including a popular farmers market. Bixby Knolls is also home to several parks and outdoor spaces, making it a great neighborhood for those who enjoy spending time outdoors.
Los Altos
Los Altos is a suburban neighborhood in Long Beach that offers a mix of single-family homes, apartments, and townhouses. This neighborhood is known for its great schools, parks, and community events. Los Altos is also home to the popular Los Altos Shopping Center, which offers a variety of shops and restaurants.
Related: <a href="https://www.superbroker.com/blog/architectural-style-homes-in-long-beach-lakewood/">Architectural style homes in Long Beach and Lakewood</a>
How to Choose the Best Neighborhood for You
When choosing the best neighborhood to buy a home in Long Beach and Lakewood, there are a few things to consider:
Lifestyle: Consider the type of lifestyle you want to lead. Do you want to be close to the ocean, or do you prefer a more suburban setting?
Budget: Consider your budget and the cost of living in the neighborhood you're interested in.
Schools: For some people, schools are an important factor in a buying decision. Even if you aren’t very concerned about the quality of local schools, consider this: If you do decide to sell in the future, the schools may be a factor in your buyers’ decisions.
Amenities: Consider the amenities available in the neighborhood, such as parks, shopping, and entertainment.
Crime rates: Research the crime rates in the neighborhood. There are plenty of websites that allow you to check – and you may also want to join neighborhood Facebook groups and use other apps to familiarize yourself.
Long Beach and Lakewood offer a variety of unique and desirable neighborhoods to buy a home. From the waterfront properties in Naples Island to the suburban charm of Lakewood Village, there is something for everyone. When choosing the best neighborhood for you, consider your lifestyle, budget, schools, amenities, and crime rates to make an informed decision.
Are You Buying or Selling a Home in Lakewood?
If you’re not already living in Lakewood, or if you are but you’re looking for a new home, we’re here to help. Call us right now at 562-882-1581 or start browsing our <a href="https://www.superbroker.com/lakewood/">Lakewood real estate listings</a> to find your dream home today!
You can also browse:
<a href="https://www.superbroker.com/long-beach/">Long Beach real estate listings</a>
<a href="https://www.superbroker.com/anaheim/">Anaheim real estate listings</a>
<a href="https://www.superbroker.com/bellflower/">Bellflower real estate listings</a>
<a href="https://www.superbroker.com/signal-hill/">Signal Hill real estate listings</a>
2024-03-08T08:00:00-07:002024-03-21T20:27:41-07:00Allison Van Wigtag:superbroker.com,2012-09-20:255115 Things You Need to Know About Buying a Home Warranty<img src="https://assets.site-static.com/userfiles/1649/image/5_Things_to_Know_About_Buying_a_Home_Warranty.jpg" width="940" height="788" />
If you're considering buying a home warranty, you probably have a lot of questions. A home warranty can offer peace of mind and financial protection, but it's essential to understand how they work and what to look for in a plan. In this article, we'll cover five key things you need to know about buying a home warranty.
Understanding What a Home Warranty Is
A home warranty is a service contract that covers the cost of repairing or replacing major home systems and appliances that break down due to normal wear and tear. Unlike homeowners insurance, which covers damage from events like fires or storms, a home warranty focuses on everyday breakdowns that can occur as your home ages.
Home warranties can be purchased by homeowners or provided as an incentive by sellers. They typically last for one year and can be renewed annually.
Related: <a href="https://www.superbroker.com/blog/10-great-reasons-to-invest-in-real-estate-in-long-beach-california/">10 great reasons to invest in real estate in Long Beach</a>
Coverage Varies Between Plans
Home warranty plans come in many shapes and sizes, so it's essential to understand what's covered under the specific plan you're considering. Some plans only cover specific appliances or systems, while others offer comprehensive coverage for your entire home.
Typical home warranty plans may cover:
Heating, ventilation, and air conditioning (HVAC) systems
Electrical systems
Plumbing systems
Major kitchen appliances, such as refrigerators, ovens, and dishwashers
Washers and dryers
Some plans also offer optional add-ons for items like swimming pools, spas, and septic systems. Be sure to read the fine print and understand the coverage limitations and exclusions before purchasing a plan.
Related: <a href="https://www.superbroker.com/blog/5-great-neighborhoods-to-buy-a-home-in-long-beach-and-lakewood/">5 neighborhoods to explore in Long Beach and Lakewood</a>
Costs Can Vary Widely
Home warranty costs depend on the level of coverage you choose and the provider you select. Basic plans may cost as little as $300 per year, while more comprehensive plans with optional add-ons can exceed $1,000 annually.
In addition to the annual or monthly premium, you'll also be responsible for a service fee or deductible each time you make a claim. This fee typically ranges from $50 to $125 per claim and is paid directly to the service provider who performs the repair or replacement.
Keep in mind that some home warranties have caps or limits on the total payout for specific repairs or replacements. This means you may be responsible for any costs that exceed the cap.
Related: <a href="https://www.superbroker.com/blog/the-top-5-home-improvements-to-increase-property-value-in-long-beach-and-lakewood/">5 home improvements that could increase your property’s value</a>
Research and Choose a Reputable Provider
Not all home warranty providers are created equal, so it's important to do your homework and choose a company with a solid reputation. Here are some tips for finding a reputable provider:
Ask friends, family, or your real estate agent for recommendations.
Check online reviews and ratings on websites like the Better Business Bureau or Consumer Reports.
Look for providers that have been in business for several years and have a proven track record of honoring claims.
Compare multiple providers and plans to find the best fit for your needs and budget.
Understand the Claims Process
When you need to use your home warranty, it's crucial to know the steps involved in filing a claim. Most providers have a straightforward process that involves the following steps:
Contact the home warranty company: As soon as you notice a problem with a covered appliance or system, call your home warranty provider to report the issue.
Schedule a service appointment: The provider will assign a local, licensed service technician to evaluate the problem. You'll be responsible for paying the service fee or deductible at the time of the appointment.
Repair or replacement: If the issue is covered under your warranty, the technician will either repair or replace the appliance or system. In some cases, the warranty company may offer a cash payout instead of a repair or replacement.
Keep in mind that some providers require you to file a claim within a specific timeframe, so don't delay when you notice a problem. Also, be aware that some warranty companies require regular maintenance of your appliances and systems to keep the warranty valid. Make sure you understand and follow any maintenance requirements outlined in your contract.
Related: <a href="https://www.superbroker.com/blog/how-to-choose-the-right-mortgage-lender-for-your-home-purchase/">How to choose the right lender for your next home purchase</a>
Weigh the Pros and Cons of a Home Warranty Purchase
Now that you know the essentials of buying a home warranty, it's time to weigh the pros and cons. A home warranty can provide financial protection and peace of mind, especially if you're buying an older home or have expensive appliances. On the other hand, you may find that the cost of the warranty outweighs the potential benefits, particularly if you're handy and can handle minor repairs yourself.
Consider your unique situation, the age and condition of your home, and the potential costs of unexpected repairs when deciding if a home warranty is right for you. By doing your research and understanding the ins and outs of home warranties, you can make an informed decision that best suits your needs.
Are You Buying or Selling a Home in Lakewood?
If you’re not already living in Lakewood, or if you are but you’re looking for a new home, we’re here to help. Call us right now at 562-882-1581 or start browsing our <a href="https://www.superbroker.com/lakewood/">Lakewood real estate listings</a> to find your dream home today!
You can also browse:
<a href="https://www.superbroker.com/long-beach/">Long Beach real estate listings</a>
<a href="https://www.superbroker.com/anaheim/">Anaheim real estate listings</a>
<a href="https://www.superbroker.com/bellflower/">Bellflower real estate listings</a>
<a href="https://www.superbroker.com/signal-hill/">Signal Hill real estate listings</a>
2024-01-15T08:00:00-07:002024-01-23T16:34:56-07:00Allison Van Wigtag:superbroker.com,2012-09-20:25514How to Choose the Right Homeowner's Insurance Policy for Your New Home<img src="https://assets.site-static.com/userfiles/1649/image/How_to_Choose_the_Right_Homeowner_s_Insurance_Policy_for_Your_New_Home.jpg" width="940" height="788" />
As a new homeowner, one of the essential steps you need to take is choosing the right homeowner's insurance policy. Homeowner's insurance protects your home and personal property in the event of unexpected events like theft, fire, or natural disasters. Here are some tips on how to choose the right homeowner's insurance policy for your new home.
Please keep in mind that here in California some insurance companies are not issuing NEW policies on dwellings because of the expanded Fire Season due to climate changes. Please have YOUR REALTOR guide you in making sure you will be able to insure your new residence.
Understand the Types of Homeowners Insurance Coverage
Before you start shopping for homeowner's insurance, it's important to understand the types of coverage available. Most policies include the following types of coverage:
Dwelling coverage: This covers the structure of your home and any attached structures like a garage or deck.
Personal property coverage: This covers your personal belongings like furniture, electronics, and clothing.
Liability coverage: This protects you if someone is injured on your property and sues you for damages.
Additional living expenses coverage: This covers the cost of living elsewhere if your home is damaged and you need to stay elsewhere while it's being repaired.
Consider Your Home's Value
The amount of homeowner's insurance you need depends on the value of your home. You should have enough coverage to rebuild your home in the event of a total loss. Keep in mind that the value of your home is not the same as the market value. The market value includes factors like location, school district, and other features that contribute to the home's resale value. The value of your home for insurance purposes is the cost to rebuild it. You can estimate this by using a home replacement cost estimator.
Related: <a href="https://www.superbroker.com/blog/10-great-reasons-to-invest-in-real-estate-in-long-beach-california/">10 great reasons to invest in real estate in Long Beach</a>
Shop Around for Quotes
Once you have an idea of the coverage you need, it's time to start shopping for quotes. You can contact insurance companies directly or work with an independent insurance agent who can provide quotes from multiple companies. It's a good idea to get quotes from several companies to compare coverage and pricing. Keep in mind that the cheapest policy may not always be the best option. You want to make sure you're getting the coverage you need at a price you can afford.
Read the Fine Print
When you're reviewing insurance policies, it's essential to read the fine print carefully. Make sure you understand the terms and conditions of the policy and ask questions if you need clarification. Pay attention to any exclusions or limitations on coverage. For example, some policies may not cover damage from floods or earthquakes. If you live in an area prone to these types of events, you may need to purchase additional coverage.
Related: <a href="https://www.superbroker.com/blog/5-great-neighborhoods-to-buy-a-home-in-long-beach-and-lakewood/">5 neighborhoods to explore in Long Beach and Lakewood</a>
Consider Discounts
Many insurance companies offer discounts that can help you save money on your homeowner's insurance policy. Some common discounts include:
Multi-policy discounts: If you have multiple insurance policies with the same company, you may be eligible for a discount.
Security system discounts: If you have a security system installed in your home, you may be eligible for a discount.
Claims-free discounts: If you haven't filed any claims in a certain number of years, you may be eligible for a discount.
Ask about these and any other available discounts when you're shopping for quotes.
Related: <a href="https://www.superbroker.com/blog/how-to-choose-the-right-mortgage-lender-for-your-home-purchase/">How to choose the right lender for your next home purchase</a>
Review Your Policy Annually
Your homeowner's insurance needs may change over time, so it's important to review your policy annually to ensure you have the coverage you need. For example, if you've made significant improvements to your home, you may need to increase your dwelling coverage. If you've acquired expensive new items like jewelry or art, you may need to increase your personal property coverage. Review your policy annually and make any necessary adjustments to ensure you're adequately covered.
Choosing the right homeowner's insurance policy is an essential step in protecting your new home and personal property. Understand the types of coverage available, consider your home's value, shop around for quotes, read the fine print, consider discounts, and review your policy annually. Taking these steps will help you find the right policy to ensure your peace of mind and protect your investment. Remember that homeowner's insurance is not something to take lightly, and you should take the time to review your options carefully.
By understanding your needs and researching various policies, you can select the best coverage for your home. Remember to not only compare prices but also consider the level of protection each policy offers. It's worth taking the time to find the right policy to protect your new home and personal property, and it can save you from significant financial loss in the long run.
Don't hesitate to ask questions or seek advice from a professional insurance agent if you're unsure about anything. They can help you understand the nuances of your policy and ensure you have the right coverage for your needs. With the right homeowner's insurance policy, you can rest easy knowing that your new home is protected from unexpected events.
Are You Buying or Selling a Home in Lakewood?
If you’re not already living in Lakewood, or if you are but you’re looking for a new home, we’re here to help. Call us right now at 562-882-1581 or start browsing our <a href="https://www.superbroker.com/lakewood/">Lakewood real estate listings</a> to find your dream home today!
You can also browse:
<a href="https://www.superbroker.com/long-beach/">Long Beach real estate listings</a>
<a href="https://www.superbroker.com/anaheim/">Anaheim real estate listings</a>
<a href="https://www.superbroker.com/bellflower/">Bellflower real estate listings</a>
<a href="https://www.superbroker.com/signal-hill/">Signal Hill real estate listings</a>
2023-04-11T07:00:00-07:002023-07-17T18:17:48-07:00Allison Van Wigtag:superbroker.com,2012-09-20:25510How to Find the Perfect Vacation Home in Long Beach or Lakewood<img src="https://assets.site-static.com/userfiles/1649/image/How_to_Find_the_Perfect_Vacation_Home_in_Long_Beach_and_Lakewood.jpg" width="940" height="788" />
Dreaming of owning a vacation home in Long Beach or Lakewood? You're not alone! These two cities are known for their fantastic weather, beautiful beaches, and laid-back vibes, making them ideal spots for a getaway. In this guide, we'll walk you through the steps to find the perfect vacation home in either of these locations.
Get Your Priorities Straight
Before you start your search, it's crucial to identify what's most important to you in a vacation home. Ask yourself the following questions:
Do you prefer being close to the beach, or would you rather have easy access to shopping, dining, and entertainment?
What size property do you need? Consider the number of bedrooms, bathrooms, and living spaces.
Are you looking for a low-maintenance condo or a spacious single-family home?
What's your budget for the vacation home?
Having a clear idea of your priorities will help you stay focused during your search and ensure you find a property that meets your needs.
Work With a Local Real Estate Agent
Finding the perfect vacation home in Long Beach or Lakewood can be a challenge, especially if you're not familiar with the area. That's where a local real estate agent comes in. They'll have in-depth knowledge of the market, neighborhoods, and available properties. Plus, they can provide invaluable guidance throughout the entire process.
Here are some tips for finding a great real estate agent:
Look for agents who specialize in vacation homes or have experience working with out-of-town buyers.
Check online reviews and ask for references from past clients.
Interview a few agents to find the one who understands your needs and has a compatible communication style.
Do Your Research on Neighborhoods
Long Beach and Lakewood both have diverse neighborhoods with distinct characteristics. Some areas are quiet and residential, while others are bustling and close to attractions. To find the perfect vacation home, you'll need to research the neighborhoods in each city.
Related: <a href="https://www.superbroker.com/blog/5-great-neighborhoods-to-buy-a-home-in-long-beach-and-lakewood/">5 neighborhoods to explore in Long Beach and Lakewood</a>
In Long Beach, consider exploring:
Belmont Shore: A vibrant neighborhood with a lively shopping and dining scene, just steps from the beach.
Naples: An upscale area with picturesque canals and luxurious homes.
Alamitos Beach: A diverse and walkable community close to downtown Long Beach.
In Lakewood, take a look at:
Lakewood Village: A charming area with tree-lined streets and a mix of detached homes and condos.
Mayfair: A friendly neighborhood with parks and good schools.
Carson Park: A peaceful residential area with easy access to parks and golf courses.
Related: <a href="https://www.superbroker.com/blog/10-great-reasons-to-invest-in-real-estate-in-long-beach-california/">10 great reasons to invest in real estate in Long Beach</a>
Visit Potential Properties
Once you've narrowed down your search to a few neighborhoods, it's time to start visiting properties. Here are some tips to make the most of your property visits:
Schedule visits during different times of the day to get a feel for the neighborhood's atmosphere.
Take notes and photos to help you remember each property's features and drawbacks.
Be prepared to act quickly if you find the perfect vacation home, as desirable properties in Long Beach and Lakewood can sell fast.
Consider the Costs of Ownership
Owning a vacation home comes with various expenses beyond the purchase price. As you search for the perfect property, keep these additional costs in mind:
Property taxes and insurance: These can vary depending on the location and value of your vacation home.
Maintenance and repairs: Regular upkeep is essential to protect your investment and ensure your vacation home remains in good condition.
Utilities: Even when you're not using your vacation home, you'll need to cover basic utilities like water, electricity, and internet.
Property management: If you don't live nearby, you may need to hire a property management company to look after your vacation home and address any issues that arise.
Think About Rental Potential
One way to offset the costs of owning a vacation home in Long Beach or Lakewood is to rent it out when you're not using it. Consider the following factors to determine if your property could be a successful rental:
Location: Vacation homes near popular attractions, the beach, or with easy access to public transportation are more likely to attract renters.
Amenities: Properties with desirable features like a pool, modern appliances, or outdoor living spaces can command higher rental rates.
Local regulations: Familiarize yourself with any rules or regulations regarding short-term rentals in the area, as some neighborhoods may have restrictions.
If you decide to rent out your vacation home, be prepared to invest time and effort into marketing, managing bookings, and maintaining the property. Alternatively, you can work with a property management company to handle these tasks for you.
Related: <a href="https://www.superbroker.com/blog/the-top-5-home-improvements-to-increase-property-value-in-long-beach-and-lakewood/">5 home improvements that could increase your property’s value</a>
Make an Offer and Close the Deal
Once you've found the perfect vacation home in Long Beach or Lakewood, it's time to make an offer. Your real estate agent can help you determine a fair price based on comparable properties in the area and guide you through the negotiation process.
After your offer is accepted, you'll need to complete a home inspection, secure financing, and finalize any necessary paperwork. With your real estate agent's assistance, this process should go smoothly, bringing you one step closer to enjoying your dream vacation home.
Related: <a href="https://www.superbroker.com/blog/how-to-choose-the-right-mortgage-lender-for-your-home-purchase/">How to choose the right lender for your next home purchase</a>
Enjoy Your Long Beach or Lakewood Getaway
Finding the perfect vacation home in Long Beach or Lakewood takes time, effort, and careful planning. By following the steps outlined in this guide, you'll be well on your way to owning a fantastic getaway spot in one of these beautiful Southern California cities. Get ready to kick back, relaxs and soak up the sun in your new home away from home.
Are You Buying or Selling a Home in Lakewood?
If you’re not already living in Lakewood, or if you are but you’re looking for a new home, we’re here to help. Call us right now at 562-882-1581 or start browsing our <a href="https://www.superbroker.com/lakewood/">Lakewood real estate listings</a> to find your dream home today!
You can also browse:
<a href="https://www.superbroker.com/long-beach/">Long Beach real estate listings</a>
<a href="https://www.superbroker.com/anaheim/">Anaheim real estate listings</a>
<a href="https://www.superbroker.com/bellflower/">Bellflower real estate listings</a>
<a href="https://www.superbroker.com/signal-hill/">Signal Hill real estate listings</a>
2023-03-25T07:00:00-07:002023-03-15T18:37:24-07:00Allison Van Wigtag:superbroker.com,2012-09-20:25509Buying a Fixer-Upper in Lakewood: Is It the Right Choice for You?<img src="https://assets.site-static.com/userfiles/1649/image/Should_You_Buy_a_Fixer-Upper_in_Lakewood.jpg" width="940" height="788" />
Discover the pros and cons of investing in a fixer-upper in Lakewood with this comprehensive guide, and make a well-informed decision on your next big purchase.
Working with a Real Estate Agent is Essential
Before exploring the pros and cons, remember that partnering with a real estate agent is crucial. They'll help you navigate the market, find attractive deals and identify homes that suit your needs as well as your budget. Now, let's dive into the advantages and disadvantages of buying a fixer-upper in Lakewood.
Pros of Buying a Fixer-Upper
Affordability
One of the primary reasons people consider fixer-uppers is the lower initial cost. In Lakewood, you'll find fixer-uppers at more affordable prices compared to turnkey homes. This lower price point can make it easier for you to enter the housing market and start building equity.
Related: <a href="https://www.superbroker.com/blog/10-great-reasons-to-invest-in-real-estate-in-long-beach-california/">10 great reasons to invest in real estate in Long Beach</a>
Opportunity for Customization
When you buy a fixer-upper, you have the chance to create your dream home. You can customize the layout, choose your preferred materials and even add energy-efficient features. This flexibility can make your fixer-upper a perfect fit for your lifestyle and personal taste.
Potential for Profit
If you're willing to put in the work, a fixer-upper can offer significant financial rewards. By renovating and improving the property, you can increase its value and potentially sell it at a profit. In Lakewood, an area known for its charm and appeal, a well-executed renovation can attract many potential buyers.
Related: <a href="https://www.superbroker.com/blog/5-great-neighborhoods-to-buy-a-home-in-long-beach-and-lakewood/">5 neighborhoods to explore in Long Beach and Lakewood</a>
Cons of Buying a Fixer-Upper
Time and Effort
Renovating a fixer-upper requires a significant investment of time and effort. Depending on the extent of the repairs needed, you could be in for months, or even years, of hard work. If you're not prepared to commit to a long-term project, a fixer-upper might not be the best choice for you.
Hidden Costs
While fixer-uppers are more affordable upfront, they can come with hidden costs that add up quickly. Structural issues, outdated electrical systems and plumbing problems can lead to expensive repairs. Be sure to factor in these potential expenses when considering a fixer-upper in Lakewood.
Related: <a href="https://www.superbroker.com/blog/the-top-5-home-improvements-to-increase-property-value-in-long-beach-and-lakewood/">5 home improvements that could increase your property’s value</a>
Financing Challenges
Securing financing for a fixer-upper can be more difficult than for a turnkey property. Some lenders may be hesitant to approve a loan for a home that needs extensive work. You might need to explore alternative financing options, such as a home renovation loan or a Federal Housing Administration (FHA) 203(k) loan.
Living in a Construction Zone
If you decide to live in your fixer-upper while renovating, be prepared for inconveniences. You may have to deal with dust, noise and limited access to certain areas of your home. This living situation can be challenging, especially for families with young children or those with health concerns.
Related: <a href="https://www.superbroker.com/blog/how-to-choose-the-right-mortgage-lender-for-your-home-purchase/">How to choose the right lender for your next home purchase</a>
Ultimately, the decision to buy a fixer-upper in Lakewood depends on your personal circumstances, financial resources and willingness to take on a renovation project. Carefully weigh the pros and cons, consult with a real estate agent, and make the best choice for your situation. With the right approach, a fixer-upper can be a rewarding investment or a pathway to your dream home.
Are You Buying or Selling a Home in Lakewood?
If you’re not already living in Lakewood, or if you are but you’re looking for a new home, we’re here to help. Call us right now at 562-882-1581 or start browsing our <a href="https://www.superbroker.com/lakewood/">Lakewood real estate listings</a> to find your dream home today!
You can also browse:
<a href="https://www.superbroker.com/long-beach/">Long Beach real estate listings</a>
<a href="https://www.superbroker.com/anaheim/">Anaheim real estate listings</a>
<a href="https://www.superbroker.com/bellflower/">Bellflower real estate listings</a>
<a href="https://www.superbroker.com/signal-hill/">Signal Hill real estate listings</a>
2023-03-20T07:00:00-07:002023-03-15T18:34:26-07:00Allison Van Wigtag:superbroker.com,2012-09-20:25058How to Choose the Right Mortgage Lender for Your Home Purchase<img src="https://assets.site-static.com/userfiles/1649/image/How_to_Choose_the_Right_Mortgage_Lender_for_Your_Home_Purchase.jpg" width="940" height="788" />
If you're planning to buy a home, finding the right mortgage lender can be a critical step in the process. A mortgage lender can help you finance your home purchase and guide you through the process of obtaining a mortgage loan. In this article, we'll explore how to choose the right mortgage lender for your home purchase.
Tip #1 for Choosing the Right Lender: Determine Your Needs
Before you start looking for a mortgage lender, it's important to determine your needs. Consider the type of loan you need, the amount of down payment you can afford, and the terms of the loan that best suit your financial situation. You can then start looking for lenders who can meet your specific needs.
Tip #2 for Choosing the Right Lender: Research Lenders
Do your research to find the right mortgage lender for your home purchase. Check out online reviews, talk to friends and family, and consult with a trusted real estate agent. Consider the lender's reputation, their interest rates, fees, and terms, and the quality of customer service.
Related: <a href="https://www.superbroker.com/blog/buying-a-home-as-is-explained/">What does it mean to buy a home “as-is”?</a>
Tip #3 for Choosing the Right Lender: Compare Rates and Terms
When comparing mortgage lenders, it's important to consider the interest rates and terms of the loan. Interest rates can vary widely from lender to lender, so it's important to shop around to find the best rate. Make sure to compare the interest rate, fees, and terms of the loan, and calculate the total cost of the loan over the life of the mortgage.
Tip #4 for Choosing the Right Lender: Check Licensing and Accreditation
Make sure that your mortgage lender is licensed and accredited. Check with the National Mortgage Licensing System (NMLS) to ensure that the lender is in good standing and that they comply with state and federal regulations.
Tip #5 for Choosing the Right Lender: Understand the Process
When working with a mortgage lender, it's important to understand the loan process. Make sure you understand the terms and conditions of the loan, including the interest rate, monthly payment, and fees. Your lender should be transparent and open about the process and provide you with clear, easy-to-understand information.
Related: <a href="https://www.superbroker.com/blog/7-things-you-need-if-you-want-to-age-in-place/">7 things you need to know if you want to age in place</a>
Tip #6 for Choosing the Right Lender: Ask Questions
Don't be afraid to ask questions when working with a mortgage lender. Make sure you fully understand the loan process and the terms of the loan. Ask about any fees or charges that are not clear, and make sure you understand the mortgage payment schedule and payment options.
Tip #7 for Choosing the Right Lender: Get Pre-Approved
Getting pre-approved for a mortgage loan can help you narrow down your options and give you a better idea of what you can afford. This can help you make a more informed decision when choosing a lender and ensure that you are qualified for a loan.
Tip #8 for Choosing the Right Lender: Consider a Local Lender
Working with a local lender can have several advantages. A local lender can have more experience with the local real estate market and can provide better customer service. They can also be more responsive to your needs and provide more personalized service.
Related: <a href="https://www.superbroker.com/blog/architectural-style-homes-in-long-beach-lakewood/">Architectural style homes in Long Beach and Lakewood</a>
Choosing the right mortgage lender for your home purchase is an important decision. Consider your needs, research lenders, compare rates and terms, check licensing and accreditation, understand the process, ask questions, get pre-approved, and consider a local lender. With the right mortgage lender, you can finance your home purchase and achieve your dream of homeownership.
Are You Buying or Selling a Home in Lakewood?
If you’re not already living in Lakewood, or if you are but you’re looking for a new home, we’re here to help. Call us right now at 562-882-1581 or start browsing our <a href="https://www.superbroker.com/lakewood/">Lakewood real estate listings</a> to find your dream home today!
You can also browse:
<a href="https://www.superbroker.com/long-beach/">Long Beach real estate listings</a>
<a href="https://www.superbroker.com/anaheim/">Anaheim real estate listings</a>
<a href="https://www.superbroker.com/bellflower/">Bellflower real estate listings</a>
<a href="https://www.superbroker.com/signal-hill/">Signal Hill real estate listings</a>
2023-03-14T07:00:00-07:002023-10-05T15:11:48-07:00Allison Van Wigtag:superbroker.com,2012-09-20:25055The Benefits of Working with a Local Real Estate Agent in Long Beach and Lakewood<img src="https://assets.site-static.com/userfiles/1649/image/The_Benefits_of_Working_with_a_Local_Real_Estate_Agent_in_Long_Beach_and_Lakewood.jpg" width="940" height="788" />
Are you planning to buy or sell a property in Long Beach or Lakewood? If so, working with a local real estate agent can be a smart move. Local agents have the experience and knowledge of the area that can make the buying or selling process smoother and more efficient. In this article, we'll explore the benefits of working with a local real estate agent in Long Beach and Lakewood.
Working With a Local: Expert Knowledge of the Local Market
Local real estate agents in Long Beach and Lakewood have expert knowledge of the local market. They have extensive knowledge of the area's neighborhoods, property values, and market trends. This knowledge can be invaluable when buying or selling a property, as it can help you make informed decisions about pricing, marketing, and negotiating.
Related: <a href="https://www.superbroker.com/blog/buying-a-home-as-is-explained/">What does it mean to buy a home “as-is”?</a>
Access to Off-Market Listings Through a Local Real Estate Agent
Local real estate agents often have access to off-market listings, which are properties that are not publicly listed for sale. These listings can be an advantage for buyers who are looking for a specific type of property or for sellers who want to sell their property quickly and discreetly.
Local Expertise
Local real estate agents in Long Beach and Lakewood have local expertise that can be very beneficial. They have extensive knowledge of the area's schools, parks, amenities, and community events. They can help you find a property that is a good fit for your lifestyle, needs, and preferences.
Related: <a href="https://www.superbroker.com/blog/7-things-you-need-if-you-want-to-age-in-place/">7 things you need to know if you want to age in place</a>
Locals Have Strong Negotiation Skills
Local real estate agents in Long Beach and Lakewood have strong negotiation skills. They can help you negotiate the best price for a property, whether you are buying or selling. They can also help you navigate the often complex negotiation process, ensuring that your interests are protected.
Effective Marketing
Local real estate agents in Long Beach and Lakewood have effective marketing strategies that can help you sell your property quickly and at the best price. They can create a comprehensive marketing plan that includes online and offline advertising, open houses, and virtual tours. This can help attract potential buyers and generate interest in your property.
Professional Network
Local real estate agents in Long Beach and Lakewood have a professional network of contacts, including other real estate agents, mortgage brokers, and home inspectors. This network can be beneficial when buying or selling a property, as it can help you find the best deals and services.
Personalized Service
Local real estate agents in Long Beach and Lakewood offer personalized service that can make the buying or selling process more comfortable and stress-free. They can help you navigate the often complex real estate process and can be available to answer your questions and concerns.
Related: <a href="https://www.superbroker.com/blog/architectural-style-homes-in-long-beach-lakewood/">Architectural style homes in Long Beach and Lakewood</a>
Familiarity with the Buying and Selling Process
Local real estate agents in Long Beach and Lakewood are familiar with the buying and selling process. They can help you understand the legal and financial aspects of buying or selling a property. They can also help you navigate the often complex paperwork and contracts involved in a real estate transaction.
Community Involvement
Local real estate agents in Long Beach and Lakewood are often involved in the community. They have an understanding of the area's culture and history, and they can help you find a property that is a good fit for your lifestyle and preferences.
Related: <a href="https://www.superbroker.com/blog/7-reasons-you-should-move-to-california-right-now/">7 reasons to move to California right now</a>
Saves Time and Energy
Working with a local real estate agent in Long Beach and Lakewood can save you time and energy. They can handle the often complex paperwork, marketing, and negotiation involved in buying or selling a property. This can help you focus on other aspects of your life, such as work, family, or hobbies.
How to Find a Local Real Estate Agent in Long Beach and Lakewood
If you're interested in working with a local real estate agent in Long Beach or Lakewood, here are some steps you can take:
Do Your Research: Research real estate agents in Long Beach and Lakewood. Check their online reviews, testimonials, and professional affiliations.
Interview Multiple Agents: Interview multiple agents and ask them questions about their experience, knowledge of the local market, and marketing strategies.
Check Their Credentials: Check the agent's credentials, including their license, certifications, and training. This can help ensure that you are working with a professional who is knowledgeable about the real estate industry.
Ask for Referrals: Ask friends, family, and colleagues for referrals to local real estate agents they have worked with and recommend.
Meet in Person: Once you have narrowed down your list of potential agents, meet with them in person to discuss your needs, preferences, and goals. This can help ensure that you find an agent who is a good fit for your real estate needs.
Working with a local real estate agent in Long Beach or Lakewood can offer many benefits when buying or selling a property. They have the knowledge, expertise, and experience needed to navigate the complex real estate process and help you achieve your goals.
Are You Buying or Selling a Home in Lakewood?
If you’re not already living in Lakewood, or if you are but you’re looking for a new home, we’re here to help. Call us right now at 562-882-1581 or start browsing our <a href="https://www.superbroker.com/lakewood/">Lakewood real estate listings</a> to find your dream home today!
You can also browse:
<a href="https://www.superbroker.com/long-beach/">Long Beach real estate listings</a>
<a href="https://www.superbroker.com/anaheim/">Anaheim real estate listings</a>
<a href="https://www.superbroker.com/bellflower/">Bellflower real estate listings</a>
<a href="https://www.superbroker.com/signal-hill/">Signal Hill real estate listings</a>
2023-03-03T08:00:00-07:002023-02-21T18:24:16-07:00Allison Van Wigtag:superbroker.com,2012-09-20:2505410 Great Reasons to Invest in Real Estate in Long Beach, California<img src="https://assets.site-static.com/userfiles/1649/image/10_Great_Reasons_to_Invest_in_Real_Estate_in_Long_Beach_California.jpg" width="940" height="788" />
Are you thinking about investing in real estate in Long Beach, California? Long Beach is a beautiful coastal city with a thriving economy, making it an attractive destination for real estate investors. In this article, we'll explore 10 great reasons to invest in real estate in Long Beach.
Strong Job Market
Long Beach has a strong job market with a diverse range of industries, including healthcare, education, and manufacturing. This means that there is a steady demand for rental properties, making it an ideal location for real estate investors.
Related: <a href="https://www.superbroker.com/blog/7-reasons-you-should-move-to-california-right-now/">7 reasons to move to California right now</a>
High Rental Demand
Long Beach is a popular destination for renters, with a high demand for rental properties due to its location, climate, and job market. This means that real estate investors can expect to have a steady stream of tenants for their properties.
Strong Appreciation Potential
Real estate in Long Beach has strong appreciation potential, with home values increasing steadily over the years. This means that real estate investors can expect to see a return on their investment over time.
Beaches and Parks
Long Beach has beautiful beaches and parks, making it a popular destination for tourists and locals alike. This makes properties located near beaches and parks highly desirable for real estate investors.
Thriving Art Scene
Long Beach has a thriving art scene with many galleries, museums, and cultural events. This draws artists and art enthusiasts to the city, making it an ideal location for real estate investments in art districts.
Proximity to Los Angeles
Long Beach is located just 20 miles south of Los Angeles, making it an attractive location for commuters who work in the city. This also means that real estate investors can take advantage of the strong job market in Los Angeles while investing in more affordable properties in Long Beach.
Related: <a href="https://www.superbroker.com/blog/architectural-style-homes-in-long-beach-lakewood/">Architectural style homes in Long Beach and Lakewood</a>
Revitalized Downtown Area
Long Beach's downtown area has been revitalized in recent years, with new restaurants, shops, and entertainment venues. This has made the downtown area a desirable location for real estate investors.
Access to Major Transportation Hubs
Long Beach has access to major transportation hubs, including the Port of Long Beach, the Long Beach Airport, and several major freeways. This makes it easy for residents to travel and for real estate investors to access their properties.
Strong Tourism Industry
Long Beach has a strong tourism industry, with many attractions including the Queen Mary, the Aquarium of the Pacific, and the Long Beach Grand Prix. This means that properties located near these attractions are highly desirable for real estate investors.
Related: <a href="https://www.superbroker.com/blog/7-things-you-need-if-you-want-to-age-in-place/">7 things you need to know if you want to age in place</a>
Diverse Neighborhoods
Long Beach has a diverse range of neighborhoods, each with its own unique character and charm. This means that real estate investors can find properties to match a variety of investment strategies, from fixer-uppers to luxury homes.
How to Invest in Real Estate in Long Beach
If you're interested in investing in real estate in Long Beach, here are some steps you can take:
Determine your investment strategy: Before investing in real estate, determine your investment strategy and goals. This will help you find properties that match your investment criteria.
Choose a location: Research the different neighborhoods in Long Beach and choose a location that matches your investment strategy and goals.
Research the market: Research the real estate market in Long Beach, including property values, rental rates, and market trends. This will help you make informed investment decisions.
Work with a real estate agent: Work with a real estate agent who has experience in the Long Beach market. They can help you find properties that match your investment strategy and negotiate favorable terms.
Secure financing: Secure financing for your real estate investment. This may involve getting pre-approved for a mortgage or securing funding from private investors.
Consider property management: Consider hiring a property management company to handle the day-to-day tasks of managing your investment property. This can include tasks such as tenant screening, rent collection, and property maintenance.
Investing in real estate in Long Beach, California can be a smart investment strategy. With its strong job market, high rental demand, and diverse range of neighborhoods, Long Beach offers a variety of opportunities for real estate investors. By taking the time to research the market, work with a real estate agent, and secure financing, you can make a smart investment in the Long Beach real estate market.
Related: <a href="https://www.superbroker.com/blog/buying-a-home-as-is-explained/">What does it mean to buy a home “as-is”?</a>
Are You Buying or Selling a Home in Lakewood?
If you’re not already living in Lakewood, or if you are but you’re looking for a new home, we’re here to help. Call us right now at 562-882-1581 or start browsing our <a href="https://www.superbroker.com/lakewood/">Lakewood real estate listings</a> to find your dream home today!
You can also browse:
<a href="https://www.superbroker.com/long-beach/">Long Beach real estate listings</a>
<a href="https://www.superbroker.com/anaheim/">Anaheim real estate listings</a>
<a href="https://www.superbroker.com/bellflower/">Bellflower real estate listings</a>
<a href="https://www.superbroker.com/signal-hill/">Signal Hill real estate listings</a>
2023-02-28T08:00:00-07:002023-02-21T18:21:48-07:00Allison Van Wigtag:superbroker.com,2012-09-20:2483410 Reasons to Invest in Real Estate in Long Beach California<img src="https://assets.site-static.com/userfiles/1649/image/Blog/10_Reasons_to_Invest_in_Real_Estate_in_Long_Beach_California.jpg" width="940" height="788" />
Real estate investment is one of the most effective ways to build long-term wealth. In Long Beach, California, the real estate market offers plenty of opportunities for savvy investors to achieve financial success. From rental properties to house flipping, there are a variety of ways to invest in the real estate market in Long Beach. In this guide, we'll explore ten reasons why investing in real estate in Long Beach is a smart move.
10 Reasons to Invest in Real Estate in Long Beach California
This guide explains the following:
The strong rental market
The appreciation potential
The thriving local economy
The diverse housing market
The coastal lifestyle
The tax benefits
The potential for long-term wealth
The opportunity for passive income
The chance to build equity
The potential for a secure retirement
Here's a closer look at each.
The Strong Rental Market
Long Beach has a thriving rental market, with a large pool of tenants looking for quality rental properties. This makes it an ideal location for investors looking to generate passive income. Investors can purchase rental properties in Long Beach and expect a steady stream of rental income.
The Appreciation Potential
Real estate in Long Beach has a history of appreciating over time, making it an ideal market for long-term investment. Property values tend to rise over time, allowing investors to build equity and increase their net worth.
The Thriving Local Economy
Long Beach has a diverse economy with a variety of industries, including healthcare, education, and shipping. This makes it a stable market for real estate investment, as there is a consistent demand for housing.
The Diverse Housing Market
Long Beach has a diverse range of housing options, from single-family homes to multi-unit apartment buildings. This makes it possible for investors to find a property that matches their investment goals and budget.
The Coastal Lifestyle
Long Beach offers a beautiful coastal lifestyle, with access to beaches, water sports, and outdoor activities. This makes it a desirable location for renters and homeowners, ensuring a strong demand for housing.
The Tax Benefits
Real estate investors in Long Beach can take advantage of several tax benefits, including deductions for mortgage interest, property taxes, and depreciation. These tax benefits can help investors reduce their tax liability and maximize their profits.
The Potential for Long-Term Wealth
Investing in real estate in Long Beach can lead to long-term wealth accumulation, as property values tend to appreciate over time. This can help investors build significant equity and increase their net worth.
The Opportunity for Passive Income
Rental properties in Long Beach offer an opportunity for passive income, as investors can generate rental income without actively managing the property. This allows investors to earn money while maintaining a full-time job or pursuing other investments.
The Chance to Build Equity
Real estate investment in Long Beach offers the opportunity to build equity over time. As property values appreciate, investors can build significant equity in their properties, increasing their net worth and financial security.
The Potential for a Secure Retirement
Investing in real estate in Long Beach can be an effective way to build wealth and secure a comfortable retirement. Rental properties can generate passive income and build equity, providing a steady stream of income and long-term financial stability.
Investing in real estate in Long Beach, California, can offer a range of benefits, including passive income, long-term wealth accumulation, and the potential for a secure retirement. With a diverse range of housing options, a strong rental market, and a thriving local economy, Long Beach is an attractive market for investors looking to build wealth through real estate investment.
Are You Buying or Selling a Home in Lakewood?
If you’re not already living in Lakewood, or if you are but you’re looking for a new home, we’re here to help. Call us right now at 562-882-1581 or start browsing our <a href="https://www.superbroker.com/lakewood/">Lakewood real estate listings</a> to find your dream home today!
You can also browse:
<a href="https://www.superbroker.com/long-beach/">Long Beach real estate listings</a>
<a href="https://www.superbroker.com/anaheim/">Anaheim real estate listings</a>
<a href="https://www.superbroker.com/bellflower/">Bellflower real estate listings</a>
<a href="https://www.superbroker.com/signal-hill/">Signal Hill real estate listings</a>
2023-02-20T14:17:00-07:002023-02-11T14:20:29-07:00Allison Van Wigtag:superbroker.com,2012-09-20:24831What is Aging in Place? <img src="https://assets.site-static.com/userfiles/1649/image/Blog/What_is_Aging_in_Place.jpg" width="940" height="788" />
Aging in place is a term used to describe an older adult's ability to maintain independence and remain in their own home, or the home of a family member, as they age. This can mean living independently in one’s own house or apartment, assisted living facilities, nursing homes, or any other type of housing that is suitable to meet the needs of an older adult. Aging in place is often preferred over other options due to its emphasis on maintaining autonomy and dignity, as well as allowing seniors to stay close to their families, friends, and communities.
Aging in place involves more than just staying at home; it also includes being able to access resources and support that are necessary for an older adult to remain as independent and as healthy as possible. This may include home modifications, such as grab bars, ramps, or wheelchair accessible bathrooms; help with errands and transportation; access to home health care services; or even assistance with meal preparation. Additionally, aging in place includes monitoring a senior’s physical and mental health, and connecting them with social and recreational activities to ensure their emotional well-being.
Aging in place can be extremely beneficial for seniors, as it allows them to remain independent and continue enjoying life in their own homes. However, it is important to keep in mind that aging in place requires planning ahead, as well as plenty of support.
Is Your House Equipped for You to Age in Place?
If you’re considering aging in place, it’s important to make sure your house is equipped with the necessary features and services that will help you age safely and comfortably. This includes making sure your home is free of obstacles and hazards; installing grab bars, ramps, or other safety equipment; ensuring any medical needs are being met; and making sure you have access to transportation, grocery stores, and other necessary services. Additionally, it’s important to make sure your home is equipped with the necessary technology to support remote care options, such as telemedicine or videoconferencing.
By planning ahead and taking steps now to ensure your home is prepared for aging in place, you can ensure that you will remain safe and independent as you age.
As with any major life decision, it is important to carefully consider all of your options before deciding whether aging in place is right for you. However, if done properly and with the necessary support, aging in place can be a great way to maintain independence, stay close to loved ones, and live life on your own terms.
Ultimately, it’s up to you to decide what the best course of action is for your individual situation – but whatever you choose, make sure it’s based on an informed decision that takes into account your needs and preferences. With some planning and preparation, aging in place can be a wonderful choice for you.
Are You Buying or Selling a Home in Lakewood?
If you’re not already living in Lakewood, or if you are but you’re looking for a new home, we’re here to help. Call us right now at 562-882-1581 or start browsing our <a href="https://www.superbroker.com/lakewood/">Lakewood real estate listings</a> to find your dream home today!
You can also browse:
<a href="https://www.superbroker.com/long-beach/">Long Beach real estate listings</a>
<a href="https://www.superbroker.com/anaheim/">Anaheim real estate listings</a>
<a href="https://www.superbroker.com/bellflower/">Bellflower real estate listings</a>
<a href="https://www.superbroker.com/signal-hill/">Signal Hill real estate listings</a>
2023-02-14T13:48:00-07:002023-06-26T14:18:03-07:00Allison Van Wigtag:superbroker.com,2012-09-20:248307 Things You Need if You Want to Age in Place <img src="https://assets.site-static.com/userfiles/1649/image/7_Things_You_Need_to_Age_in_Place.jpg" width="940" height="788" />
If you intend to age in place in the next home you buy, this guide has you covered. It contains the seven things you need if you plan to live in your next home forever.
7 Things You Need if You Want to Age in Place
Check out the seven things you absolutely need in your home if you intend to age in place:
Great lighting
Cabinet organizers (preferably the pull-out kind)
Grab bars on showers and near toilets
Bidets
Lever handles on your doors
Barrier-free entry to rooms
Voice-activated tech
Here's a closer look at each.
Age-in-Place Necessity #1: Great Lighting
Good, bright lighting is essential for anyone trying to age in place. Natural light is great, but if you don't have enough of it coming into your home, choose energy-efficient bulbs and fixtures with strong wattages that can provide ample lighting throughout the house.
Age-in-Place Necessity #2: Cabinet Organizers
Cabinet organizers are a must-have item for anyone aging in place. If you want to make the most of your kitchen space and ensure items are easy to access, consider investing in pull-out organizers that can go inside your cabinets. This will allow you to easily reach whatever is stored inside without needing to bend down or climb up a ladder.
Age-in-Place Necessity #3: Grab Bars
Grab bars near showers and toilets provide added safety while bathing and using the bathroom, making them an essential feature if you're considering aging in place. Look for grab bars with suction cups and strong grips that won't come loose over time or cause any damage to walls.
Age-in-Place Necessity #4: Bidets
Bidets are an ideal addition to any bathroom if you plan to age in place. They provide a more hygienic way of cleaning up after using the toilet, and they can even help reduce paper waste. Look for models with adjustable pressure settings, heated seats, self-cleaning features, etc.
Age-in-Place Necessity #5: Lever Handles
Door knobs and handles can become difficult to grasp as you start to age. To make sure your doors are easily accessible, replace door handles with lever handles instead. These will make it easier to open and close doors without needing too much strength or dexterity.
Age-in-Place Necessity #6: Barrier-Free Entry to Rooms
If you intend to age in place, make sure your home has easily accessible entryways that don't require too much effort. Invest in a wheelchair ramp or other modifications if necessary, and look for doors with minimal threshold heights to reduce the risk of falls.
Age-in-Place Necessity #7: Voice-Activated Tech
Voice-activated technology is becoming increasingly popular among people aging in place. Instead of having to physically move around or use buttons, you can control your smart devices just by speaking out loud. This will provide more independence and convenience while allowing you to stay at home safely.
Are You Buying or Selling a Home in Lakewood?
If you’re not already living in Lakewood, or if you are but you’re looking for a new home, we’re here to help. Call us right now at 562-882-1581 or start browsing our <a href="https://www.superbroker.com/lakewood/">Lakewood real estate listings</a> to find your dream home today!
You can also browse:
<a href="https://www.superbroker.com/long-beach/">Long Beach real estate listings</a>
<a href="https://www.superbroker.com/anaheim/">Anaheim real estate listings</a>
<a href="https://www.superbroker.com/bellflower/">Bellflower real estate listings</a>
<a href="https://www.superbroker.com/signal-hill/">Signal Hill real estate listings</a>
2023-02-11T13:46:49-07:002023-06-26T14:35:58-07:00Allison Van Wigtag:superbroker.com,2012-09-20:24486Buying a Home As-Is, Explained<img src="https://assets.site-static.com/userfiles/1649/image/Buying_a_Home_As_Is.jpg" width="940" height="788" />
Buying a home as-is means purchasing a property in its current condition, without any repairs or improvements made by the seller. The buyer accepts the property as-is and takes responsibility for any issues or problems that may exist.
Why do some people sell homes as-is? Sellers may choose to sell their homes as-is for various reasons, including the need to sell quickly, the desire to avoid making repairs, or the inability to afford the cost of repairs. In some cases, sellers may also believe that the property is in good condition and that any issues will not significantly impact its value.
Can you get a home inspection if you're interested in buying an as-is home? Yes, you can still get a home inspection when buying a home as-is. It is advisable to have an inspection performed before making an offer, so you have a clear understanding of the property's condition and any potential issues.
Are lenders less likely to finance your purchase on an as-is home? Lenders may be less likely to finance your purchase on an as-is home due to the potential for hidden issues or problems with the property. However, this depends on the lender's individual policies and the specific circumstances of the property and the loan.
What if something's really wrong with an as-is home? If something is significantly wrong with the property, you may be stuck with the issue unless you have taken steps to protect yourself. This is why it is important to have a home inspection and to fully understand the condition of the property before making an offer.
Do you have any recourse if a seller didn't disclose something wrong with an as-is home? If a seller failed to disclose a known issue with the property, you may have some recourse. It depends on the specific laws that apply to your situation and the terms of the purchase agreement. In some cases, you may be able to pursue legal action against the seller for fraud or misrepresentation. It is important to have a thorough understanding of your rights and responsibilities as a buyer before making a purchase.
Are You Buying or Selling a Home in Lakewood?
If you’re not already living in Lakewood, or if you are but you’re looking for a new home, we’re here to help. Call us right now at 562-882-1581 or start browsing our <a href="https://www.superbroker.com/lakewood/">Lakewood real estate listings</a> to find your dream home today!
You can also browse:
<a href="https://www.superbroker.com/long-beach/">Long Beach real estate listings</a>
<a href="https://www.superbroker.com/anaheim/">Anaheim real estate listings</a>
<a href="https://www.superbroker.com/bellflower/">Bellflower real estate listings</a>
<a href="https://www.superbroker.com/signal-hill/">Signal Hill real estate listings</a>
2023-01-25T17:43:00-07:002023-02-01T17:49:30-07:00Allison Van Wigtag:superbroker.com,2012-09-20:244847 Reasons You Should Move to California RIGHT NOW<img src="https://assets.site-static.com/userfiles/1649/image/Move_to_California.png" width="940" height="788" />
California, known for its stunning beaches, diverse landscape, and sunny weather, is a prime location for those seeking a new adventure. Here are some reasons why someone should consider packing up and moving to California:
Diverse economy: California has a diverse and thriving economy, with many industries including technology, entertainment, and agriculture. The state is home to some of the largest companies in the world, including Apple, Google, and Facebook, providing numerous job opportunities.
Cultural hotspot: California is a cultural hub, with a rich history and diverse population. From Hollywood to San Francisco, the state is renowned for its entertainment scene and is home to numerous museums, art galleries, and festivals.
Natural beauty: California boasts a stunning coastline, breathtaking mountains, and lush forests. The state is a paradise for outdoor enthusiasts, offering opportunities for hiking, surfing, skiing, and much more.
Progressive policies: California is known for its progressive policies, with a focus on sustainability and social justice. The state is at the forefront of initiatives related to renewable energy, climate change, and equality, providing residents with a sense of pride in their community.
Access to education: California has a highly-regarded public education system, as well as a number of prestigious universities, including the University of California system and Stanford University.
Delicious food: California is a foodie's paradise, with a thriving food culture that is influenced by a diverse array of cuisines. From farm-to-table restaurants to street food vendors, there is something for everyone.
Laid-back lifestyle: California is known for its laid-back lifestyle, with a focus on health and wellness. The state is home to a number of yoga studios, health food stores, and outdoor fitness events, making it easy to maintain a healthy lifestyle.
While moving to California may not be the right choice for everyone, those who are seeking a new adventure, a thriving job market, and access to world-class amenities should definitely consider making the move. Whether you're seeking a new career opportunity, a better quality of life, or simply a change of pace, California has something for everyone.
Are You Buying or Selling a Home in Lakewood?
If you’re not already living in Lakewood, or if you are but you’re looking for a new home, we’re here to help. Call us right now at 562-882-1581 or start browsing our <a href="https://www.superbroker.com/lakewood/">Lakewood real estate listings</a> to find your dream home today!
You can also browse:
<a href="https://www.superbroker.com/long-beach/">Long Beach real estate listings</a>
<a href="https://www.superbroker.com/anaheim/">Anaheim real estate listings</a>
<a href="https://www.superbroker.com/bellflower/">Bellflower real estate listings</a>
<a href="https://www.superbroker.com/signal-hill/">Signal Hill real estate listings</a>
2023-01-20T17:39:00-07:002023-02-01T17:43:36-07:00Allison Van Wigtag:superbroker.com,2012-09-20:23920Should You Build or Buy Your Next Home in Lakewood or Long Beach?<img src="https://assets.site-static.com/userfiles/1649/image/build_or_buy.jpg" width="940" height="788" />
When it's time to buy a home, you have several options - and you can choose between buying an existing home or building one from the ground up. But which is right for you? This guide can help you decide.
Should You Build or Buy Your Next Home in Lakewood or Long Beach?
If you’re considering the Lakewood or Long Beach area for your next home, either buying an existing house or having one built from scratch are both feasible options. When making this decision, it’s important to weigh the pros and cons of each option.
Building a Home in Lakewood or Long Beach
Building a home in the Lakewood or Long Beach area has its benefits. You can have a brand new home that is tailored to your exact specifications and exactly fits your needs. Additionally, you’ll be able to select your own finishes and fixtures, giving your home an individual style that speaks to you. However, building from scratch often comes with longer timelines and higher costs.
A second option is to buy an existing home in Lakewood or Long Beach. This route may be preferable if you’re looking for a quicker timeline, as it can take less time to find the right house and close on it than building from scratch. Additionally, you may find that buying a home proves more cost effective than building one from the ground up. However, you will likely have to do some renovations to make it your own, so that should factor into your decision-making process as well.
Should You Work With Your Own Real Estate Agent if You're Building a Home in Lakewood or Long Beach?
You should absolutely work with your own agent - not a builder's agent - when you're building a home in Lakewood or Long Beach. That's because your agent will be able to provide you with an unbiased perspective on the process and help ensure that you make good decisions throughout the home building journey. With an experienced real estate professional by your side, you can rest assured that your interests are being looked after every step of the way.
The builder's real estate agent's first duty is to the builder. That means they put the builder's interests first. Though they can't do anything criminal or swindle you out of your hard-earned money, they aren't particularly interested in getting you the best deal or getting you more concessions.
Does it Cost Money for Buyers to Work With a Real Estate Agent?
As a buyer, you don't pay for your real estate agent. The seller does. It doesn't matter whether you're buying new construction or an existing home; the seller is typically responsible for paying a buyer's agent's fees.
The one exception is when you buy a home listed as for sale by owner, or FSBO. Sometimes, the people selling these homes won't pay an agent's commission.
Whether you decide to buy an existing home or build one from scratch in Lakewood or Long Beach is a personal decision based on many factors. Consider what type of lifestyle you want to live, how much time and money it would take to do each option, and also factor in important considerations when buying or selling a house such as location, price range, size, and amenities. Then talk to your own real estate agent who can provide insight into the best
When deciding whether to buy or build a home in the Lakewood or Long Beach area, consider all of your options and determine which will be the best fit for your needs. No matter what you decide, it’s important to go into this process with a clear plan and budget in mind so that you can get the perfect house for your lifestyle.
Are You Buying or Selling a Home in Lakewood?
If you’re not already living in Lakewood, or if you are but you’re looking for a new home, we’re here to help. Call us right now at 562-882-1581 or start browsing our <a href="https://www.superbroker.com/lakewood/">Lakewood real estate listings</a> to find your dream home today!
You can also browse:
<a href="https://www.superbroker.com/long-beach/">Long Beach real estate listings</a>
<a href="https://www.superbroker.com/anaheim/">Anaheim real estate listings</a>
<a href="https://www.superbroker.com/bellflower/">Bellflower real estate listings</a>
<a href="https://www.superbroker.com/signal-hill/">Signal Hill real estate listings</a>2023-01-17T18:26:00-07:002023-01-27T16:44:01-07:00Allison Van Wigtag:superbroker.com,2012-09-20:239175 Reasons to Move to Lakewood This Winter<img src="https://assets.site-static.com/userfiles/1649/image/5_Reasons_to_Move_to_Lakewood.jpg" width="940" height="788" />
If you're like many people, you've dreamed of living in Lakewood or Long Beach. And there's good news: This winter may be the perfect time to dive in with both feet.
5 Reasons You Should Sell Your Home and Move to Lakewood, California This Winter
Check out the five reasons you should move to Lakewood this winter:
Great climate
Dozens of restaurants, shops and entertainment venues nearby
Cultural attractions
Friendly neighbors
Pet-friendly communities
Here's a closer look at each.
Reason #1 to Move to Lakewood, California: Great Climate
Lakewood offers a mild Mediterranean climate with cool, wet winters and hot, dry summers. This is perfect for outdoor enthusiasts who want to get outside and enjoy the sun when it's warm but still be able to stay in the shade when it gets too hot. Plus, Lakewood has some great beaches nearby if you need a break from all that sunshine.
Reason #2 to Move to Lakewood, California: Restaurants, Shops and Entertainment Venues Nearby
When you live in Lakewood, you're never far from great food, shops, and entertainment venues. Whether you want a casual bite from one of the many restaurants or you want to dress up for an evening at the theater, you can find it all in Lakewood.
Reason #3 to Move to Lakewood, California: Cultural Attractions
The city of Lakewood is home to a variety of cultural attractions that showcase its unique history and vibrant arts community. From festivals and farmers markets to art galleries and museums, there's always something new to discover in this dynamic city.
Reason #4 to Move to Lakewood, California: Friendly Neighbors
The people in the city of Lakewood are known for being incredibly friendly and welcoming. Whether you're looking for an afternoon chat over coffee or need some advice on where to find the best local eats, your neighbors will be more than happy to help out.
Reason #5 to Move to Lakewood, California: Pet-Friendly Communities
If you have a four-legged friend at home, you'll be glad to know that Lakewood is one of the most pet-friendly cities in the area. With plenty of parks and trails for your pup to explore, it's easy to find a spot where you can take your dog for some fresh air and exercise.
These five reasons make it clear why this winter might be the perfect time to move to Lakewood, California. So if you're ready for an adventure and want to experience all that this vibrant city has to offer, now's the time.
Are You Buying or Selling a Home in Lakewood?
If you’re not already living in Lakewood, or if you are but you’re looking for a new home, we’re here to help. Call us right now at 562-882-1581 or start browsing our <a href="https://www.superbroker.com/lakewood/">Lakewood real estate listings</a> to find your dream home today!
You can also browse:
<a href="https://www.superbroker.com/long-beach/">Long Beach real estate listings</a>
<a href="https://www.superbroker.com/anaheim/">Anaheim real estate listings</a>
<a href="https://www.superbroker.com/bellflower/">Bellflower real estate listings</a>
<a href="https://www.superbroker.com/signal-hill/">Signal Hill real estate listings</a>2023-01-11T17:56:00-07:002023-01-05T18:03:04-07:00Allison Van Wigtag:superbroker.com,2012-09-20:23912What Are the Main Types of Mortgage Loans?<img src="https://assets.site-static.com/userfiles/1649/image/What_Are_the_Main_Types_of_Mortgage_Loans.jpg" width="940" height="788" />
Mortgage loans can generally be divided into two main categories: conventional and government-backed.
Conventional Loans
Conventional loans are not insured by any governmental agency, such as the Federal Housing Administration or Department of Veterans Affairs. These loans are typically offered by banks, credit unions, and other private lenders. Conventional loans often require a larger down payment than government-backed loans.
Government-Backed Loans
Government-backed loans, such as FHA, USDA and VA loans, are insured by the federal government and typically offer more flexible terms for borrowers with lower credit scores or limited funds for a down payment. These types of mortgages have fewer restrictions and are therefore easier to qualify for. However, they may have higher interest rates than conventional loans and require the payment of an insurance premium, depending on the type of loan.
Secondary Mortgages
Secondary mortgages, such as home equity lines of credit (HELOC) and second mortgages, are additional loans taken out against the equity in a property. These types of mortgages usually have variable interest rates and can be used for home improvements, debt consolidation, or other expenses.
Bridge Loans
Bridge loans are short-term loans designed to provide financing for a temporary period of time until the borrower can secure permanent financing. These types of loans are typically used when purchasing a new home before selling an existing one. Bridge loans generally have higher interest rates than conventional mortgages, as they are considered riskier investments.
Adjustable-Rate Mortgages
Adjustable-rate mortgages feature an interest rate that changes over time based on market conditions. ARMs offer borrowers lower initial payments but can become more expensive if market conditions cause the interest rate to increase. ARMs usually have a fixed-rate period before switching to an adjustable-rate schedule, so borrowers should understand how their loan will be affected by market conditions and plan accordingly.
Reverse Mortgages
A reverse mortgage is a type of loan that allows seniors age 62 or older to access equity in their home without having to make any monthly payments on the loan itself. The loan must be repaid when the borrower passes away, sells the home, or moves out permanently. Reverse mortgages can help seniors stay in their homes longer and access funds for living expenses, but they typically come with high fees and interest rates.
Ultimately, there are many different types of mortgages available for people looking to finance a home purchase. It is important to understand the differences and advantages of each type of loan in order to make the best choice for your individual situation. An experienced mortgage professional can help you compare loans and find one that meets your needs and budget.
A Quick Look at Major Government-Backed Loans
The most common government-backed loans include VA, FHA and USDA loans. The following sections explain each.
What is a VA Loan?
A VA loan is a mortgage loan offered through the U.S. Department of Veterans Affairs. It provides veterans and active members of the military with access to more favorable terms, such as no down payment, no private mortgage insurance requirement, and flexible credit requirements.
What is an FHA Loan?
An FHA loan is insured by the Federal Housing Administration and allows borrowers to put down as little as 3.5% for a down payment. It also has less stringent credit requirements than conventional loans, making it easier for people with lower credit scores to qualify for a home purchase.
What Is a USDA Loan?
USDA loans are backed by the U.S. Department of Agriculture and are designed to help low-income individuals and families purchase homes in rural areas. These loans offer 100% financing and have more flexible eligibility requirements than other loan types.
These government-backed loans can provide access to the home buying market for people who may not qualify for a conventional mortgage, but it is important to understand the terms and conditions associated with each program before applying. An experienced lender can help borrowers decide which type of loan works best for their individual situation.
No matter what type of loan you are considering, it is important to shop around and compare rates and terms from multiple lenders before making a final decision. A good lender will provide clear information on all aspects of the loan process so you can make an informed choice.
Are You Buying or Selling a Home in Lakewood?
If you’re not already living in Lakewood, or if you are but you’re looking for a new home, we’re here to help. Call us right now at 562-882-1581 or start browsing our <a href="https://www.superbroker.com/lakewood/">Lakewood real estate listings</a> to find your dream home today!
You can also browse:
<a href="https://www.superbroker.com/long-beach/">Long Beach real estate listings</a>
<a href="https://www.superbroker.com/anaheim/">Anaheim real estate listings</a>
<a href="https://www.superbroker.com/bellflower/">Bellflower real estate listings</a>
<a href="https://www.superbroker.com/signal-hill/">Signal Hill real estate listings</a>2022-12-20T16:39:00-07:002023-01-05T16:45:09-07:00Allison Van Wigtag:superbroker.com,2012-09-20:233455 Things You Need to Know if You Buy New ConstructionIf you're like many people want to buy a new construction home in Lakewood or Long Beach, you probably already know that you need a real estate agent by your side to help you through the process. But with that said, here are five additional things you need to know before you buy new construction here or anywhere else in the country.
5 Things You Need to Know if You Buy New Construction
Check out these five things you should know before buying new construction:
There will always be flaws.
Your home warranty may not cover everything.
You should always test all appliances.
Double-check all the windows to ensure they open and close properly before you move in.
You need a copy of your roof warranty.
Here's a closer look at each.
#1. There Will Always Be Flaws
No matter how new a home is, there will always be flaws. These may not be noticeable at first glance, so it's important to do a thorough inspection before signing on the dotted line.
The bottom line is that no home is perfect, so it pays to have realistic expectations and to work with an experienced real estate agent who can help you identify issues that your builder should repair for you. Don't get stressed when you discover that the home you just paid good money for does have some minor issues. You should only worry the issues are major, and even then, only if the builder is unwilling to fix them for you. Your real estate agent will be your guide through this process and can help you get where you need to be.
#2. Your Home Warranty May Not Cover Everything
When you buy a new construction home, the builder will provide you with a warranty. While this is great, it's important to be aware that not everything will be covered under the warranty. You should read through it carefully and make sure that any items you need to pay for are clearly listed. It's also a good idea to ask your real estate agent for advice on any items you may need to pay for in the future.
#3. You Should Test All Appliances
Before you move into a new construction home, it's important to test all of the appliances. Make sure that they are working properly and that there are no obvious issues with them. It's also a good idea to take pictures of the appliances before moving in, just in case something does happen after you move in.
#4. Double-Check All Windows
It's important to double-check all windows before you move into your new construction home. Make sure that they all open and close properly, and that there are no issues with the window frames. If there are any issues, you should contact your builder and have them fix it before you move in.
#5. You Need a Copy of Your Roof Warranty
Roof warranties vary depending on the type of roof that is installed on your home. It's important to get a copy of this warranty from your builder before you move in and to understand exactly what is covered under the warranty. If there are any issues with your roof, you should be able to rely on the warranty to cover any necessary repairs or replacements.
Are You Buying or Selling a Home in Lakewood?
If you’re not already living in Lakewood, or if you are but you’re looking for a new home, we’re here to help. Call us right now at 562-882-1581 or start browsing our <a href="https://www.superbroker.com/lakewood/">Lakewood real estate listings</a> to find your dream home today!
You can also browse:
<a href="https://www.superbroker.com/long-beach/">Long Beach real estate listings</a>
<a href="https://www.superbroker.com/anaheim/">Anaheim real estate listings</a>
<a href="https://www.superbroker.com/bellflower/">Bellflower real estate listings</a>
<a href="https://www.superbroker.com/signal-hill/">Signal Hill real estate listings</a>2022-11-29T09:43:00-07:002022-12-18T17:37:05-07:00Allison Van Wigtag:superbroker.com,2012-09-20:221333 Ways to Improve Your Credit Score When You Want to Buy a Home<img src="https://assets.site-static.com/userfiles/1649/image/3_Tips_to_Help_You_Improve_Your_Credit_Score_to_Buy_a_Home.png" width="940" height="788" />
The internet is full of tips for improving your credit score when you want to buy a home - but a lot of those tips are impractical and unrealistic. ("Save money!" "Skip out on your morning coffee!" "Don't have a car payment!" Those are good ideas, but they lack practicality... and they may not work for you.) This guide covers three no-nonsense ways to improve your credit score when you want to buy a home in Lakewood or Long Beach.
3 Ways to Improve Your Credit Score When You Want to Buy a Home
Check out these three ways to improve your credit score - for real - when you want to buy a home. Though this isn't financial advice (and you should consult a financial professional if you're thinking about buying a home), these tips may be useful to you:
Check your credit report for errors and dispute issues immediately.
Think about taking out a personal loan to consolidate debt and lower your interest payments.
Be smart about allocating your payments.
Here's a closer look at each.
Tip #1 to Improve Your Credit Score to Buy a Home: Check Your Credit Report for Errors and Dispute Issues Immediately
According to a study by the <a href="https://consumer.ftc.gov/articles/free-credit-reports" target="_blank">Federal Trade Commission</a>, one in five consumers had an error on their credit report. That's a pretty significant number - and it means that there's a 20 percent chance you have an error on your credit report, too. You can order your free credit report from each of the three major credit bureaus (Equifax, Experian, and TransUnion) once every 12 months.
When you get your credit report, comb through it carefully and look for any errors. If you see something that looks wrong - like a late payment that you know you made on time, or an account that isn't yours - dispute the error with the credit bureau. You can do this online, and it doesn't cost you anything.
Related: <a href="https://www.superbroker.com/blog/3-simple-tips-to-make-your-home-offer-stand-out-to-a-seller/">3 tips to make your home offer stand out to a seller</a>
Tip #2 to Improve Your Credit Score to Buy a Home: Think About Taking Out a Personal Loan to Consolidate Debt and Lower Your Interest Payments
If you have high-interest debt, like credit card debt, it can be tough to pay it down. A personal loan can help you consolidate your debt into one monthly payment, and it may have a lower interest rate than your credit cards. This can save you money on interest payments, and help you pay off your debt faster.
Before you take out a personal loan, shop around to compare rates from different lenders. You can use a site like <a href="https://creditkarma.com/" target="_blank">CreditKarma</a> to get pre-qualified rates from multiple lenders without affecting your credit score.
Related: <a href="https://www.superbroker.com/blog/common-questions-about-getting-a-mortgage-to-buy-a-home-in-lakewood/">The most common questions about mortgages, answered</a>
Tip #3 to Improve Your Credit Score to Buy a Home: Be Smart About Allocating Your Payments
Two popular methods for debt repayment are the debt snowball method and the debt avalanche method. With the debt snowball method, you focus on paying off your smallest debts first. This can give you a quick win and some momentum to keep going.
The debt avalanche method is focused on saving money. You pay off your debts from highest interest rate to lowest interest rate, so you save the most money in interest payments.
There's no right or wrong way to do it - it's up to you which method you want to use. Just pick a method and stick with it until all of your debts are paid off. No matter which method you choose, make sure you're making more than the minimum payments on all of your debts. This will help you pay off your debts faster and improve your credit score.
Are You Buying or Selling a Home in Lakewood?
If you’re not already living in Lakewood, or if you are but you’re looking for a new home, we’re here to help. Call us right now at 562-882-1581 or start browsing our <a href="https://www.superbroker.com/lakewood/">Lakewood real estate listings</a> to find your dream home today!
You can also browse:
<a href="https://www.superbroker.com/long-beach/">Long Beach real estate listings</a>
<a href="https://www.superbroker.com/anaheim/">Anaheim real estate listings</a>
<a href="https://www.superbroker.com/bellflower/">Bellflower real estate listings</a>
<a href="https://www.superbroker.com/signal-hill/">Signal Hill real estate listings</a>
2022-11-17T08:00:00-07:002022-09-24T06:20:43-07:00Allison Van Wigtag:superbroker.com,2012-09-20:22132Buying Your First Home? Follow These Three Helpful Tips<img src="https://assets.site-static.com/userfiles/1649/image/3_First-Time_Buyer_Tips_for_Buying_a_Home_in_Lakewood_or_Long_Beach.png" width="940" height="788" />
If you're a first-time buyer, you probably don't know everything there is to know about purchasing a home - and that's okay. In fact, that's what we're here for; we can help you through the process and ensure that you get the best possible deal, whether you're buying a condo in Long Beach or a single-family home in Lakewood (or something else entirely). While you're here, check out these three helpful tips for first-time homebuyers. They'll get you started on the right path.
Buying Your First Home? Follow These Three Helpful Tips
Check out these three tips for first-time buyers that can give you an edge when you start looking for your next home:
Get preapproved for a mortgage
Find the right real estate agent
Research neighborhoods and schools
Here's a closer look at each.
First-Time Homebuyer Tip #1: Get Preapproved for a Mortgage
If you're serious about buying a home, the first step is to get preapproved for a mortgage. This will give you an idea of how much money you can borrow. Even better, showing up with a preapproval letter when you eventually make an offer gives sellers confidence that you're a serious buyer.
Getting preapproved is generally pretty easy; simply talk to your bank or credit union and they'll walk you through the process.
Related: <a href="https://www.superbroker.com/blog/5-great-golf-courses-in-and-around-lakewood/">5 of the best golf courses in and around Lakewood, CA</a>
First-Time Homebuyer Tip #2: Find the Right Real Estate Agent
If you're new to the world of homebuying, working with a real estate agent can be enormously helpful - and it's something we highly recommend. A good agent will help you find homes that fit your budget and needs, and they'll also be there to negotiate on your behalf. Of course, not all agents are created equal. You'll want to find someone you're comfortable working with - and who has experience helping first-time buyers, if possible.
As a buyer, working with a real estate agent costs you nothing. The seller pays the agent's commission, so it makes sense to have an experienced professional in your corner.
Related: <a href="https://www.superbroker.com/blog/10-beautiful-public-parks-in-lakewood-everyone-should-see/">10 beautiful public parks in Lakewood, CA</a>
First-Time Homebuyer Tip #3: Research Neighborhoods and Schools
If you have kids (or plan to have them soon), then school quality is probably one of your top priorities. And kids or not, the neighborhood's ambiance, location and amenities can still be an important factor in your decision. Do some research online and see what people are saying about the various neighborhoods you're considering.
Related: <a href="https://www.superbroker.com/blog/3-simple-tips-to-make-your-home-offer-stand-out-to-a-seller/">3 simple tips to make your home offer stand out to a seller</a>
Are You Buying or Selling a Home in Lakewood?
If you’re not already living in Lakewood, or if you are but you’re looking for a new home, we’re here to help. Call us right now at 562-882-1581 or start browsing our <a href="https://www.superbroker.com/lakewood/">Lakewood real estate listings</a> to find your dream home today!
You can also browse:
<a href="https://www.superbroker.com/long-beach/">Long Beach real estate listings</a>
<a href="https://www.superbroker.com/anaheim/">Anaheim real estate listings</a>
<a href="https://www.superbroker.com/bellflower/">Bellflower real estate listings</a>
<a href="https://www.superbroker.com/signal-hill/">Signal Hill real estate listings</a>
2022-11-14T08:00:00-07:002022-09-24T06:18:58-07:00Allison Van Wigtag:superbroker.com,2012-09-20:221317 Clever Ways to Make Buyers Fall in Love With Your Home<img src="https://assets.site-static.com/userfiles/1649/image/7_Things_You_Can_Do_to_Make_Buyers_Fall_in_Love_With_Your_Home_-_Sell_Your_Home_in_Lakewood_or_Long_Beach.png" width="940" height="788" />
If you're thinking about selling your home in Lakewood or Long Beach, there are a few things you can do to make it irresistible to buyers. This guide explains.
7 Clever Ways to Make Buyers Fall in Love With Your Home
Check out these seven clever ways you can make prospective buyers fall in love with your home:
Clean everything
Declutter cabinets, pantries and drawers
Make small spaces look larger with mirrors and lighting
Use live plants in staging
Remove personalized decor and photos
Clean up evidence of pets
Make sure your curb appeal is amazing
Here's a closer look at each.
Tip #1 for Making Buyers Fall in Love With Your Home: Clean Everything
When buyers come to see your home, they're going to be looking for signs that it's well-maintained. That means you need to do a deep clean before putting your house on the market. You should clean everything from top to bottom, including:
Walls
Floors
Ceilings
Windows
Doors
Light fixtures
Blinds and shutters
Closets and storage areas
Appliances
Not into the idea of scouring the baseboards on your own? Think about bringing in the pros; a professional cleaning service can help you get the job done quickly and efficiently. Then, you only have to maintain what they've done while your home remains on the market.
Related: <a href="https://www.superbroker.com/blog/should-you-hire-a-professional-cleaner-before-you-list-your-home-for-sale/">Should you really hire a professional cleaning service to help sell your home?</a>
Tip #2 for Making Buyers Fall in Love With Your Home: Declutter Cabinets, Pantries and Drawers
One of the biggest turn-offs for prospective buyers is clutter, which makes a home look small, cramped and uncomfortable. Spend some serious time removing all the clutter from your home, including your cabinets, pantries and drawers in every room. Pay attention to your medicine cabinets, too - and consider taking out furniture that interrupts clear walking paths or looks too big for the space it's in.
Tip #3 for Making Buyers Fall in Love With Your Home: Make Small Spaces Look Larger With Mirrors and Lighting
If you have small rooms or spaces in your home, there are a few things you can do to make them look larger. First, add mirrors; they reflect light and make a space seem bigger than it is. Second, take advantage of natural light by opening curtains and blinds; if you don't have a lot of natural light, consider adding some extra lighting fixtures. Finally, paint your walls in light, neutral colors; dark colors make a space seem smaller.
Related: <a href="https://www.superbroker.com/blog/3-staging-secrets-you-should-know-before-you-list-your-home/">3 staging secrets every seller needs to know</a>
Tip #4 for Making Buyers Fall in Love With Your Home: Use Live Plants in Staging
Another great way to make your home more appealing to buyers is by using live plants in your staging. Plants add color, life and a sense of relaxation to a space, all of which are appealing to buyers. Plus, they help to filter the air, making your home feel even more fresh and inviting.
Tip #5 for Making Buyers Fall in Love With Your Home: Remove Personalized Decor and Photos
When you're selling your home, it's important to remember that buyers want to be able to envision themselves living there. That's why it's a good idea to remove any personalized decor or photos before putting your house on the market; you want buyers to be able to imagine their own belongings in the space.
Tip #6 for Making Buyers Fall in Love With Your Home: Clean up Evidence of Pets
If you have pets, it's important to make sure that there's no evidence of them around your home before prospective buyers come to see it. That means removing pet beds, food and water bowls, toys, litter boxes and anything else that would make it obvious that you have pets. You should also do a deep clean to remove any pet hair, dander or odors from your home.
Related: <a href="https://www.superbroker.com/blog/3-secrets-to-a-fast-sale/">3 secrets to an ultra-fast sale</a>
Tip #7 for Making Buyers Fall in Love With Your Home: Make Sure Your Curb Appeal Is Amazing
Last but not least, don't forget about your home's curb appeal. You want buyers to be impressed from the moment they pull up, so take some time to spruce up your landscaping, paint the front door and add some attractive outdoor lighting. These simple changes can make a big difference in how buyers perceive your home.
Are You Buying or Selling a Home in Lakewood?
If you’re not already living in Lakewood, or if you are but you’re looking for a new home, we’re here to help. Call us right now at 562-882-1581 or start browsing our <a href="https://www.superbroker.com/lakewood/">Lakewood real estate listings</a> to find your dream home today!
You can also browse:
<a href="https://www.superbroker.com/long-beach/">Long Beach real estate listings</a>
<a href="https://www.superbroker.com/anaheim/">Anaheim real estate listings</a>
<a href="https://www.superbroker.com/bellflower/">Bellflower real estate listings</a>
<a href="https://www.superbroker.com/signal-hill/">Signal Hill real estate listings</a>
2022-11-11T08:00:00-07:002022-09-24T06:16:37-07:00Allison Van Wigtag:superbroker.com,2012-09-20:22129The 5 Steps to Buying a Home in Lakewood or Long Beach<img src="https://assets.site-static.com/userfiles/1649/image/The_5_Steps_to_Buying_a_Home_in_Lakewood_or_Long_Beach.png" width="940" height="788" />
If you're getting ready to buy a home in Lakewood or Long Beach, you know that it requires quite a bit of legwork on your part - but with the right guidance, you can snag your dream home before you know it. This guide explains the five steps you need to take to purchase a home in California (or anywhere else).
The 5 Steps to Buying a Home in Lakewood or Long Beach
Check out these five essential steps to buying a home in Lakewood or Long Beach:
Determine what you can afford by getting preapproved for a mortgage
Research neighborhoods that fit your budget
Get acquainted with an experienced real estate agent
Find the right home
Negotiate the price
After you've tackled all these steps, you'll pick up the keys and start moving. Here's a closer look at each.
Step 1 in Buying a Home: Determine What You Can Afford by Getting Preapproved for a Mortgage
The first step in buying a home is knowing how much you can afford to spend. This will help guide your search and ensure that you only look at homes within your budget. The best way to do this is by getting preapproved for a mortgage.
Preapproval involves submitting your financial information - including your income, debts, and assets - to a lender who will then provide you with a letter stating how much they're willing to lend you. This letter will come in handy when you're ready to make an offer on a home. Keep in mind that preapproval is not the same as prequalification, which only gives you a rough estimate of how much you can afford based on your self-reported assets and doesn't require you to submit any documentation.
Related: <a href="https://www.superbroker.com/blog/mid-century-modern-architecture-its-influence-on-home-building/">Mid-century modern architecture and its influence on home building</a>
Step 2 in Buying a Home: Research Neighborhoods That Fit Your Budget
Once you have an idea of how much you can afford to spend on a home, it's time to start researching neighborhoods that fit your budget. Consider things like the cost of living, commute times, schools in the area, and the crime rate. Your real estate agent can't describe these things to you - it's against the law - so you have to do the research yourself.
Related: <a href="https://www.superbroker.com/blog/how-to-tell-if-a-neighborhood-is-right-for-you/">Can you tell if a neighborhood is a good fit for you?</a>
Step 3 in Buying a Home: Get Acquainted With an Experienced Real Estate Agent
The next step in buying a home is finding an experienced real estate agent who can help you with the process. A good agent will be familiar with the neighborhoods you're interested in and will be able to help you find a home that fits your needs. They'll also be able to guide you through the negotiation process and help you get the best price possible.
Step 4 in Buying a Home: Find the Right Home
After you've found an experienced real estate agent, it's time to start looking for homes. Your agent will help you narrow down your search to homes that fit your budget and your needs. They'll also be able to set up appointments for you to tour the homes.
Related: <a href="https://www.superbroker.com/blog/what-is-homeowners-insurance/">Everything you need to know about homeowners insurance</a>
Step 5 in Buying a Home: Negotiate the Price
After you settle on the perfect home, it's time to negotiate the price. This is where your real estate agent can help even more. They'll be able to help you come up with a fair offer based on the market value of the home and their knowledge of the seller's motivation.
Are You Buying or Selling a Home in Lakewood?
If you’re not already living in Lakewood, or if you are but you’re looking for a new home, we’re here to help. Call us right now at 562-882-1581 or start browsing our <a href="https://www.superbroker.com/lakewood/">Lakewood real estate listings</a> to find your dream home today!
You can also browse:
<a href="https://www.superbroker.com/long-beach/">Long Beach real estate listings</a>
<a href="https://www.superbroker.com/anaheim/">Anaheim real estate listings</a>
<a href="https://www.superbroker.com/bellflower/">Bellflower real estate listings</a>
<a href="https://www.superbroker.com/signal-hill/">Signal Hill real estate listings</a>
2022-11-03T07:00:00-07:002022-09-24T06:12:51-07:00Allison Van Wigtag:superbroker.com,2012-09-20:22128The Biggest Challenges Most People Face When Buying a Home (and How to Overcome Them)<img src="https://assets.site-static.com/userfiles/1649/image/4_Big_Challenges_You_May_Face_When_You_Buy_a_Home_in_Lakewood_or_Long_Beach.png" width="940" height="788" />
Thinking about buying a home in Lakewood or Long Beach? Check out the biggest challenges most people face when they're buying a home... and how to overcome them.
The Biggest Challenges Most People Face When Buying a Home
These are generally the biggest challenges most people face when buying a home:
Saving up for a down payment
Finding the right home in the right location
Getting approved for a mortgage
Negotiating a good price on a home
The following sections explain each, plus how to get past the obstacles and keep moving forward.
Challenge #1: Saving Up for a Down Payment
A 20 percent down payment is the gold standard when it comes to buying a home. But that doesn't mean you can't buy a home if you have a smaller down payment saved up. There are a number of programs and options available for buyers with limited funds for a down payment. For example, FHA loans require as little as 3.5 percent for a down payment, and there are a number of other low down payment programs available as well. The key is to do your research and speak with a mortgage lender to find out what options are available to you.
Your real estate agent may also be able to point you in the right direction to find first-time homebuyer assistance programs, too. These programs, generally available to anyone who hasn't purchased a home in the very recent past, may be able to help you fund your down payment through grants and other forms of assistance.
Related: <a href="https://www.superbroker.com/blog/how-to-de-stress-your-cat-when-you-move/">How to help your cat get past the stress of moving</a>
Challenge #2: Finding the Right Home in the Right Location
One of the hardest things about buying a home is finding one that's perfect for you (and in the right location). You may have a list of must-haves, nice-to-haves, and deal breakers, but it can still be tough to find a home that meets all (or even most) of them.
Working with a real estate agent who knows the Lakewood and Long Beach areas well can be a big help. They can send you listings that match your criteria as soon as they hit the market and help you schedule appointments to see homes that fit what you're looking for.
It's also important to be flexible when you're home shopping. You may not be able to find a home that has everything on your list, but if you're willing to compromise on some things, you may be able to find a home that's just right for you.
Related: <a href="https://www.superbroker.com/blog/how-to-help-your-dog-adjust-to-your-new-home/">Tips for helping your dog adjust to a new home</a>
Challenge #3: Getting Approved for a Mortgage
Getting approved for a mortgage can be another big challenge when buying a home. Lenders will look at your credit score, employment history, and income level to determine whether or not you're a good candidate for a loan.
If you're not sure where you stand, it's a good idea to speak with a mortgage lender before you start shopping for a home. They can help you understand what type of loan you qualify for and how much you may be able to borrow. This information can be helpful in setting your budget and avoiding any disappointment later on.
Related: <a href="https://www.superbroker.com/blog/how-to-tell-if-a-neighborhood-is-right-for-you/">How can you tell if a neighborhood is a good fit for you?</a>
Challenge #4: Negotiating a Good Price on a Home
Once you find a home you love, the next step is negotiating a purchase price with the seller. This can be tricky, but there are a few things you can do to increase your chances of success.
First, it's important to have an idea of what the home is worth before you start negotiating. Your real estate agent can help you with this by providing you with a comparative market analysis (CMA). This report will show you the prices of similar homes that have recently sold in the area. Your agent can let you know what makes a good offer (and what doesn't).
Related: <a href="https://www.superbroker.com/blog/5-red-flags-to-watch-for-when-you-buy-a-home-as-is/">5 red flags to watch for when you buy a home “as-is”</a>
Are You Buying or Selling a Home in Lakewood?
If you’re not already living in Lakewood, or if you are but you’re looking for a new home, we’re here to help. Call us right now at 562-882-1581 or start browsing our <a href="https://www.superbroker.com/lakewood/">Lakewood real estate listings</a> to find your dream home today!
You can also browse:
<a href="https://www.superbroker.com/long-beach/">Long Beach real estate listings</a>
<a href="https://www.superbroker.com/anaheim/">Anaheim real estate listings</a>
<a href="https://www.superbroker.com/bellflower/">Bellflower real estate listings</a>
<a href="https://www.superbroker.com/signal-hill/">Signal Hill real estate listings</a>
2022-10-29T07:00:00-07:002022-09-24T06:11:03-07:00Allison Van Wigtag:superbroker.com,2012-09-20:220773 Reasons Now is the Perfect Time to Buy a Home in Lakewood<img src="https://assets.site-static.com/userfiles/1649/image/Why_Now_is_the_Perfect_Time_to_Buy_a_Home_in_Lakewood_CA.png" width="940" height="788" />
If you're thinking about buying a home for sale in Lakewood, you're not alone - people all over California (and from elsewhere) are house-hunting in the city as you're reading this. But you may not want to wait much longer; now is the perfect time to buy a home in Lakewood. This guide explains.
3 Reasons Now is the Perfect Time to Buy a Home in Lakewood
Check out the top three reasons to buy a home in Lakewood now:
The market is shifting in favor of buyers
Interest rates are still low
Lakewood and Long Beach are thriving communities packed with amenities
Here's a closer look at each.
Reason #1 to Buy in Lakewood: The Market is Shifting in Favor of Buyers
If you're a prospective buyer, you're in luck - the market is shifting in your favor. The trend of sellers holding all the power is reversing, as more and more people are interested in buying homes. Houses are selling faster than they have been in years, but there's still a good selection on the market to choose from.
Related: <a href="https://www.superbroker.com/blog/whats-the-difference-between-an-inspection-and-an-appraisal-in-real-estate/">Inspection vs. appraisal</a>
Reason #2 to Buy in Lakewood: Interest Rates are Still Low
Interest rates on mortgages are still relatively low, making now a great time to buy a home before they go up. Don't wait too long to take advantage of this - experts predict that rates will start rising significantly within the next few months.
Reason #3 to Buy in Lakewood: It's a Thriving Community Packed with Amenities
Lakewood is a thriving community that offers residents plenty of amenities. The city has great public schools, tons of parks and recreation opportunities, and a wide variety of shops and restaurants. There's something for everyone in Lakewood, making it the perfect place to call home.
If you're thinking about buying a home in Lakewood, now is the time to do it. The market is shifting in your favor, interest rates are still low, and it's a thriving community packed with amenities. Don't wait - we can help you find the perfect Lakewood home today.
Related: <a href="https://www.superbroker.com/blog/should-you-buy-a-fixer-upper-to-flip-it/">Should you buy a fixer-upper and flip it?</a>
Are You Buying or Selling a Home in Lakewood?
If you’re not already living in Lakewood, or if you are but you’re looking for a new home, we’re here to help. Call us right now at 562-882-1581 or start browsing our <a href="https://www.superbroker.com/lakewood/">Lakewood real estate listings</a> to find your dream home today!
You can also browse:
<a href="https://www.superbroker.com/long-beach/">Long Beach real estate listings</a>
<a href="https://www.superbroker.com/anaheim/">Anaheim real estate listings</a>
<a href="https://www.superbroker.com/bellflower/">Bellflower real estate listings</a>
<a href="https://www.superbroker.com/signal-hill/">Signal Hill real estate listings</a>
2022-10-11T07:00:00-07:002022-09-22T04:05:07-07:00Allison Van Wigtag:superbroker.com,2012-09-20:22073The 3 Worst Homebuying Mistakes You Can Make<img src="https://assets.site-static.com/userfiles/1649/image/3_Huge_Homebuying_Mistakes_You_Don_t_Need_to_Make_-_Buy_a_Home_in_Lakewood_or_Long_Beach.png" width="940" height="788" />
If you're like many people, you know that it's important to work with a skilled, knowledgeable real estate agent when you buy a home in Lakewood or Long Beach. You probably also know that you should rely on your agent's expertise, which will steer you clear of trouble. In any case, this guide outlines the three worst homebuying mistakes you could possibly make so you can avoid them.
The 3 Worst Homebuying Mistakes You Can Make
Check out these three homebuying gaffes that could end up costing you far more than they're worth:
Not doing your research
Overpaying for a home
Not getting a home inspection
Here's a closer look at each.
Homebuying Mistake #1: Not Doing Your Research
One of the most common and costly mistakes homebuyers make is not doing their research. And we're not just talking about researching the Lakewood or Long Beach real estate market (although that's important, too). We're talking about failing to investigate potential red flags that could turn your dream home into a money pit.
For example, if you're buying a home that's been on the market for a long time, it's important to find out why. Maybe there are structural issues that have made it difficult to sell. Or maybe the seller is being unreasonable about the price. In any case, it pays to do your homework before you commit to a purchase.
The same goes for foreclosures and short sales. These properties can be great deals, but they're also often in need of significant repairs. So, before you buy, make sure you understand what you're getting yourself into.
Related: <a href="https://www.superbroker.com/blog/mid-century-modern-architecture-its-influence-on-home-building/">Mid-century modern architecture and its influence on home-building</a>
Homebuying Mistake #2: Overpaying for a Home
It's no secret that prices in the Lakewood and Long Beach real estate markets have been on the rise in recent years. But that doesn't mean you should overpay for a home just because you think the value will continue to go up. Remember, your goal is to find a home that's priced right for the current market conditions.
If you overpay for a home, you could find yourself "underwater" on your mortgage if prices take a dip. That's why it's so important to work with an experienced real estate agent who can help you understand what a fair price is for the homes you're considering.
Homebuying Mistake #3: Not Getting a Home Inspection
Another mistake that homebuyers sometimes make is assuming that the home they're buying is in good condition. But even newly built homes can have hidden defects. That's why it's always a good idea to get a home inspection before you buy.
A home inspector will look for any potential problems with the property, from structural issues to plumbing problems. They'll also check for things like mold and asbestos. If any problems are found, you can then negotiate with the seller to have them fixed before you move in.
Related: <a href="https://www.superbroker.com/blog/how-to-de-stress-your-cat-when-you-move/">How to help your cat de-stress when you move into a new home</a>
Are You Buying or Selling a Home in Lakewood?
If you’re not already living in Lakewood, or if you are but you’re looking for a new home, we’re here to help. Call us right now at 562-882-1581 or start browsing our <a href="https://www.superbroker.com/lakewood/">Lakewood real estate listings</a> to find your dream home today!
You can also browse:
<a href="https://www.superbroker.com/long-beach/">Long Beach real estate listings</a>
<a href="https://www.superbroker.com/anaheim/">Anaheim real estate listings</a>
<a href="https://www.superbroker.com/bellflower/">Bellflower real estate listings</a>
<a href="https://www.superbroker.com/signal-hill/">Signal Hill real estate listings</a>
2022-09-25T07:00:00-07:002022-09-21T22:54:11-07:00Allison Van Wigtag:superbroker.com,2012-09-20:215155 Red Flags to Watch for When You Buy a Home 'As Is'<img src="https://assets.site-static.com/userfiles/1649/image/5_Red_Flags_to_Watch_for_When_You_Look_at_Homes_for_Sale_Listed_As_Is.png" width="940" height="788" />
When buying a home, it's important to be aware of the potential red flags that could indicate you're making a bad purchase decision. As-is home purchases can be especially risky, because someone selling a property in as-is condition isn't willing to make repairs for you.
5 Red Flags to Watch for When You Buy a Home "As Is"
Here are five red flags to watch out for when considering an as-is purchase:
Pest problems
Foundation or structural issues
Fresh paint in odd places
Shoddy workmanship and repairs
Strange odors
Here's a closer look at each.
As-Is Red Flag #1: Pest Problems
Pest problems are a common issue in homes, and they can be expensive to fix. If you're considering an as-is purchase, be sure to have the property inspected for pests first. This will give you a better idea of what you're dealing with and whether or not the pest problem is something you're willing to take on.
Related: <a href="https://www.superbroker.com/blog/which-of-these-5-mortgages-is-right-for-you/">Which of these five mortgage types is right for you?</a>
As-Is Red Flag #2: Foundation or Structural Issues
Foundation and structural issues are a major concern when considering an as-is purchase. These problems can be expensive to fix, and they can also make a home unsafe to live in. If you see any signs of foundation or structural damage, it may be best to walk away from the home and look for something else.
As-Is Red Flag #3: Fresh Paint in Odd Places
If you see fresh paint in odd places, it could be a sign that someone is trying to cover up damage. This is especially true if the paint job is poorly done or if there are areas where the paint doesn't match. If you're considering an as-is purchase, be sure to take a close look at any areas that have been freshly painted.
Related: <a href="https://www.superbroker.com/blog/can-a-seller-keep-your-earnest-money-deposit/">Can a seller keep your earnest money deposit?</a>
As-Is Red Flag #4: Shoddy Workmanship and Repairs
If you see evidence of shoddy workmanship or repairs, it's a good idea to walk away from the home. This is because these problems can be costly to fix, and they can also make a home unsafe to live in. If you're considering an as-is purchase, be sure to look for signs of shoddy workmanship, such as poor craftsmanship, mismatched materials, and unfinished repairs.
As-Is Red Flag #5: Strange Odors
If you notice any strange odors coming from a home, you need to know that they could be indicative of a problem, such as mold or mildew. Likewise, if you notice lots of synthetic fragrance, such as that coming from air fresheners, candles or sprays, the current owner may be trying to cover something up.
Related: <a href="https://www.superbroker.com/blog/whats-the-difference-between-an-inspection-and-an-appraisal-in-real-estate/">What’s the difference between an inspection and an appraisal?</a>
Are You Buying or Selling a Home in Lakewood?
If you’re not already living in Lakewood, or if you are but you’re looking for a new home, we’re here to help. Call us right now at 562-882-1581 or start browsing our <a href="https://www.superbroker.com/lakewood/">Lakewood real estate listings</a> to find your dream home today!
You can also browse:
<a href="https://www.superbroker.com/long-beach/">Long Beach real estate listings</a>
<a href="https://www.superbroker.com/anaheim/">Anaheim real estate listings</a>
<a href="https://www.superbroker.com/bellflower/">Bellflower real estate listings</a>
<a href="https://www.superbroker.com/signal-hill/">Signal Hill real estate listings</a>
2022-09-08T07:00:00-07:002022-08-18T21:52:45-07:00Allison Van Wigtag:superbroker.com,2012-09-20:21514Is it Ever Safe to Waive Contingencies When You Buy a Home?<img src="https://assets.site-static.com/userfiles/1649/image/Is_it_Ever_Safe_to_Waive_Contingencies_-_Buy_a_Home_in_Lakewood_or_Long_Beach.png" width="940" height="788" />
When you buy a home, there are a number of things that need to happen in order for the sale to be final. You need to have an agreement with the seller, get financing in place, and have the home inspected. In most cases, you would also waive your right to cancel the sale if something were to go wrong before closing. But is it ever safe to waive contingencies? This guide explains.
Is it Ever Safe to Waive Contingencies When You Buy a Home?
The three most common contingencies in real estate involve:
The appraisal
The home inspection
Financing
Here's a closer look at each.
The Appraisal Contingency
The appraisal contingency protects the buyer in a situation where the home they are buying is appraised for less than the purchase price. If this happens, the buyer has the right to cancel the contract and get their earnest money back.
Related: <a href="https://www.superbroker.com/blog/which-of-these-5-mortgages-is-right-for-you/">Is one of these five mortgage types right for you?</a>
The Home Inspection Contingency
The home inspection contingency protects the buyer by giving them the opportunity to have the home inspected before finalizing the purchase. If the inspection reveals any major problems with the home, the buyer can cancel the contract and get their earnest money back.
The Financing Contingency
The financing contingency protects the buyer in a situation where they are not able to get approved for a loan to purchase the home. If this happens, the buyer can cancel the contract and get their earnest money back.
Related: <a href="https://www.superbroker.com/blog/should-you-buy-a-fixer-upper-to-flip-it/">When is it a good idea to flip a house in Lakewood or Long Beach?</a>
When is it Safe to Waive Contingencies?
In general, it is not recommended that buyers waive any of the above contingencies. However, there are some situations where it may be necessary.
For example, if you are buying a home in a highly competitive market, you may need to waive your contingencies in order to beat out other buyers. Or, if you have already been pre-approved for a loan and have the cash on hand to buy the home outright, you may feel comfortable waiving the financing contingency.
As always, it is important to speak with your real estate agent and loan officer to get their professional opinion before making any decisions.
Are You Buying or Selling a Home in Lakewood?
If you’re not already living in Lakewood, or if you are but you’re looking for a new home, we’re here to help. Call us right now at 562-882-1581 or start browsing our <a href="https://www.superbroker.com/lakewood/">Lakewood real estate listings</a> to find your dream home today!
You can also browse:
<a href="https://www.superbroker.com/long-beach/">Long Beach real estate listings</a>
<a href="https://www.superbroker.com/anaheim/">Anaheim real estate listings</a>
<a href="https://www.superbroker.com/bellflower/">Bellflower real estate listings</a>
<a href="https://www.superbroker.com/signal-hill/">Signal Hill real estate listings</a>
2022-09-03T07:00:00-07:002022-08-18T21:51:00-07:00Allison Van Wigtag:superbroker.com,2012-09-20:21316Should You Buy a Fixer-Upper to Flip It?<img src="https://assets.site-static.com/userfiles/1649/image/Should_You_Buy_a_Fixer-Upper_to_Flip_It_-_Buy_a_Home_in_Lakewood_or_Long_Beach_CA.png" width="940" height="788" />
There's something alluring about the idea of buying a fixer-upper and flipping it for a quick profit. But is buying a fixer-upper to flip it really such a great idea, or is it just asking for trouble? This guide explains.
Should You Buy a Fixer-Upper to Flip It?
This guide explains:
What is a fixer-upper and what are the benefits of flipping one?
The risks of flipping a fixer-upper
How to find the right fixer-upper to flip
What you need to know before buying a fixer-upper
How to estimate the cost of repairs
How to finance your flip
How to manage your time and resources while flipping a house
Tips for selling your finished product
Here's a closer look at each.
What is a Fixer-Upper and What Are the Benefits of Flipping One?
A fixer-upper is a property that needs some work—usually cosmetic updates and repairs. These homes are often sold at a discount, which presents an opportunity for investors who are willing to put in the time and effort to renovate them.
There are several potential benefits of flipping a fixer-upper:
You can buy low and sell high. Because fixer-uppers are typically sold at a discount, you may be able to purchase one for less than it's worth and then sell it for a profit after completing the renovations.
You have the opportunity to add value. By renovating a fixer-upper, you can add value to the property, making it more appealing to buyers and potentially increasing your profits.
You can control the outcome. When you buy a fixer-upper, you have the opportunity to control the outcome of the renovation by choosing the materials, finishes, and fixtures yourself. This allows you to put your own personal touch on the property and make it into exactly what you want it to be.
Related: <a href="https://www.superbroker.com/blog/whats-the-difference-between-an-inspection-and-an-appraisal-in-real-estate/">What’s the difference between an inspection and an appraisal in real estate?</a>
The Risks of Flipping a Fixer-Upper
There are some risks associated with flipping a fixer-upper. These include:
The potential for cost overruns. One of the biggest risks of flipping a fixer-upper is that the repairs and renovations may end up costing more than you anticipated. It's important to have a realistic idea of the potential costs before you commit to a purchase.
The risk of not being able to sell. Another risk is that you may not be able to sell the property for a profit after completing the renovations. This can happen if the market conditions change or if the repairs and renovations take longer than expected, resulting in higher costs.
The risk of injury. Flipping a fixer-upper also comes with the risk of injury, as there may be hazards present in the property that need to be fixed. Be sure to take proper safety precautions when working on a fixer-upper.
Related: <a href="https://www.superbroker.com/blog/colors-and-how-they-affect-our-buying-habits/">How colors affect our buying habits</a>
How to Find the Right Fixer-Upper to Flip
If you're thinking about flipping a fixer-upper, it's important to choose the right property. Here are some things to keep in mind:
Location. The location of the property is important, as it will impact the resale value. Look for a fixer-upper that's located in a desirable neighbourhood or one that has potential for appreciation.
Condition of the property. It's also important to consider the condition of the property when choosing a fixer-upper to flip. A property that needs significant repairs may not be worth your time and money. Instead, look for a property that just needs some cosmetic updates.
Your budget. Of course, you'll also need to consider your budget when choosing a fixer-upper to flip. Be realistic about how much you can afford to spend on the purchase and repairs.
Your timeline. It's also important to consider your timeline when flipping a fixer-upper. If you're hoping to sell the property quickly, you'll need to choose a property that doesn't require major repairs or renovations.
Related: <a href="https://www.superbroker.com/blog/the-5-best-houseplants-to-use-when-staging-your-living-room/">The 5 best houseplants to use when you stage your living room</a>
What You Need to Know Before Buying a Fixer-Upper
If you're considering buying a fixer-upper, there are some things you need to know first. Here are a few tips:
Get a realistic estimate of the repair costs. Once you've found a potential fixer-upper, it's important to get an accurate estimate of the repair costs. This will help you determine if the property is worth the investment.
Get a loan pre-approval. If you're planning to finance your fixer-upper, it's a good idea to get pre-approved for a loan. This will give you an idea of how much money you can borrow and what your monthly payments will be.
Have a contingency fund. It's also important to have a contingency fund when flipping a fixer-upper. This will help you cover unexpected costs or delays.
Be prepared for the time commitment. Flipping a fixer-upper can be time-consuming, so be prepared for the commitment before you get started.
Related: <a href="https://www.superbroker.com/blog/how-to-buy-a-home-after-a-bankruptcy/">How to buy a home after a bankruptcy</a>
How to Estimate the Cost of Repairs
When estimating the cost of repairs for a fixer-upper, it's important to be as accurate as possible. Here are a few tips:
Get multiple estimates. It's a good idea to get estimates from multiple contractors before you commit to any repairs. This will help you get a realistic idea of the costs.
Consider the value of your time. If you're planning to do some of the work yourself, be sure to factor in the value of your time. Otherwise, you may end up spending more on labor costs than you anticipated.
Don't forget about hidden costs. There may be some hidden costs associated with repairing a fixer-upper, such as permits or inspections. Be sure to factor these into your estimate.
Add a contingency fund. It's always a good idea to add a contingency fund to your repair estimate. This will help you cover any unexpected costs.
Related: <a href="https://www.superbroker.com/blog/3-staging-secrets-you-should-know-before-you-list-your-home/">3 staging secrets every seller should know</a>
How to Finance Your Flip
There are a few different ways to finance your fixer-upper, depending on your budget and timeline. Here are some options:
Cash. If you have the cash available, paying for your fixer-upper outright is the best option. This will allow you to avoid interest charges and get started on the repairs right away.
Home equity loan. Another option is to take out a home equity loan against your primary residence. This can be a good way to finance your flip if you have equity built up in your home.
Personal loan. You could also finance your fixer-upper with a personal loan from a bank or online lender. This can be a good option if you have good credit and can qualify for a competitive interest rate.
Hard money loan. If you're looking for a short-term loan to finance your flip, you may be able to qualify for a hard money loan. These loans are typically higher-interest and require collateral, but they can be easier to qualify for than traditional loans.
Private investors. Another option is to find private investors to finance your flip. This can be a good option if you're having trouble qualifying for a traditional loan.
Related: <a href="https://www.superbroker.com/blog/what-is-debt-to-income-ratio-dti-explained/">DTI, explained</a>
How to Manage Your Time and Resources While Flipping a House
Flipping a fixer-upper can be a time-consuming and resource-intensive process. Here are a few tips to help you manage your time and resources:
Set a budget. Before you start your flip, it's important to set a budget for the project. This will help you stay on track and avoid overspending.
Create a timeline. Once you've set your budget, it's time to create a timeline for the project. This will help you stay organized and on schedule.
Hire contractors. If you're not planning to do the work yourself, it's important to hire reliable contractors. Be sure to get estimates from multiple contractors before making any decisions.
Stay organized. Flipping a house can be chaotic, so it's important to stay organized. This will help you stay on track and avoid making mistakes.
Take your time. Don't rush the process of flipping your fixer-upper. This is a big project, so take your time and enjoy the process.
Related: <a href="https://www.superbroker.com/blog/3-secrets-to-a-fast-sale/">3 secrets to a fast home sale</a>
Tips for Selling Your Finished Product
Once you've finished repairing and renovating your fixer-upper, it's time to sell it! Here are a few tips to help you sell your finished product:
Hire a real estate agent. If you're not familiar with the home-selling process, it's a good idea to hire a real estate agent. They can help you price your home, negotiate with buyers, and close the deal.
Prepare your home for showings. Before you start showing your home, it's important to make sure it's in tip-top shape. This means decluttering, staging, and making any necessary repairs.
Market your home online. In today's market, it's important to market your home online. This means creating a listing on a site like Zillow or Trulia, as well as using social media to spread the word.
Hold an open house. An open house is a great way to get people interested in your home. Be sure to advertise your open house in advance so that people will know when and where to find you.
Be prepared to negotiate. Once you start receiving offers, it's important to be prepared to negotiate. This is where working with a real estate agent can really come in handy. They can help you determine how to best respond to an offer.
Are You Buying or Selling a Home in Lakewood?
If you’re not already living in Lakewood, or if you are but you’re looking for a new home, we’re here to help. Call us right now at 562-882-1581 or start browsing our <a href="https://www.superbroker.com/lakewood/">Lakewood real estate listings</a> to find your dream home today!
You can also browse:
<a href="https://www.superbroker.com/long-beach/">Long Beach real estate listings</a>
<a href="https://www.superbroker.com/anaheim/">Anaheim real estate listings</a>
<a href="https://www.superbroker.com/bellflower/">Bellflower real estate listings</a>
<a href="https://www.superbroker.com/signal-hill/">Signal Hill real estate listings</a>
2022-08-14T07:00:00-07:002022-08-09T20:14:51-07:00Allison Van Wigtag:superbroker.com,2012-09-20:20359How to Buy a Home After a Bankruptcy <img src="https://assets.site-static.com/userfiles/1649/image/How_to_Buy_a_Home_After_Bankruptcy.png" width="940" height="788" />
If you have a bankruptcy in your past, you may be able to secure financing to buy a home - but here's what you need to know.
How to Buy a Home After a Bankruptcy
Many people who have a bankruptcy in their past eventually qualify for a mortgage loan. Most lenders recognize that nobody enters a bankruptcy without weighing all the pros and cons, and that in some cases, it's the only way out of a desperate situation. However, lenders are a bit cautious about lending to people with a more recent bankruptcy, because it does show that a person was once unable to pay their debts.
Related: <a href="https://www.superbroker.com/blog/is-there-a-secret-to-saving-for-a-down-payment-on-a-home/">Is there a secret to saving for a down payment?</a>
How Long Should You Wait After Bankruptcy to Buy a Home?
Most lenders will require that you wait at least two years after your bankruptcy has been discharged before they'll consider you for a loan. Some lenders may require a longer waiting period, such as three to five years. The farther in the past your bankruptcy is, the more likely you are to get approved for a loan with favorable terms - especially if you've taken steps to improve your credit score in the meantime.
What You Need to Do to Get Approved for a Mortgage After Bankruptcy
If you want to buy a home after bankruptcy, there are a few things you can do to improve your chances of getting approved for a loan:
Get a copy of your bankruptcy discharge paperwork and make sure everything is accurate. If there are any errors, dispute them with the credit bureau.
Work on rebuilding your credit score by making all your payments on time and keeping your credit card balances low.
Save up for a larger down payment, which will show lenders that you're serious about owning a home and capable of making regular mortgage payments.
Get a cosigner with good credit to increase your chances of getting approved for a loan.
Related: <a href="https://www.superbroker.com/blog/when-should-you-offer-over-asking-price-on-a-lakewood-home-for-sale/">When should you offer over asking price?</a>
Are You Buying or Selling a Home in Lakewood?
If you’re not already living in Lakewood, or if you are but you’re looking for a new home, we’re here to help. Call us right now at 562-882-1581 or start browsing our <a href="https://www.superbroker.com/lakewood/">Lakewood real estate listings</a> to find your dream home today!
You can also browse:
<a href="https://www.superbroker.com/long-beach/">Long Beach real estate listings</a>
<a href="https://www.superbroker.com/anaheim/">Anaheim real estate listings</a>
<a href="https://www.superbroker.com/bellflower/">Bellflower real estate listings</a>
<a href="https://www.superbroker.com/signal-hill/">Signal Hill real estate listings</a>
2022-07-17T07:00:00-07:002022-06-24T00:18:12-07:00Allison Van Wigtag:superbroker.com,2012-09-20:20358Common Questions About Getting a Mortgage to Buy a Home in Lakewood<img src="https://assets.site-static.com/userfiles/1649/image/Answers_to_the_Most_Common_Mortgage_Questions_-_Buy_a_Home_in_Lakewood_or_Long_Beach.png" width="940" height="788" />If you're like many people, you know you'll need a mortgage to buy a home in Lakewood or Long Beach - but you probably have some questions. This guide addresses the most common questions about getting a mortgage to buy a home.
Why Do You Need to Talk to Multiple Lenders Before You Get a Mortgage?
When you're shopping for a mortgage, it's important to compare rates and terms from multiple lenders. This way, you can be sure you're getting the best deal possible.
Talking to multiple lenders also gives you a chance to negotiate. If one lender offers you a higher rate than another, you can use that as leverage to get a lower rate from the second lender.
Comparing rates and terms from multiple lenders is the best way to ensure you're getting the best deal on your mortgage. Be sure to talk to at least three different lenders before making a decision.
Related: <a href="https://www.superbroker.com/blog/can-you-use-a-va-loan-to-buy-a-duplex-in-lakewood/">Can you use a VA loan to buy a duplex in Lakewood or Long Beach?</a>
Do You Need to Be Preapproved for a Mortgage Before You Start House-Hunting?
You should get mortgage preapproval before you start house-hunting. That's because being preapproved gives you a better idea of how much you can afford to spend on a home.
When you're preapproved, a lender will look at your income, debts, and credit history to determine how much they're willing to lend you. This way, you know your budget before you start looking for a home.
Another reason preapproval is so important is that it can help sellers take you seriously. When you find a home you love, you'll want to put in an offer right away - and if you have a preapproval letter, it may reassure the seller that you can actually get the cash to buy the home.
What's the Difference Between an ARM and a Fixed-Rate Mortgage?
The two main types of mortgages are adjustable-rate mortgages (ARMs) and fixed-rate mortgages.
An adjustable-rate mortgage has an interest rate that can change over time. typically, the interest rate on an ARM is lower than a fixed-rate mortgage for the first few years of the loan. After that, the interest rate may go up or down, depending on market conditions.
A fixed-rate mortgage has an interest rate that stays the same over the life of the loan. This makes it easier to budget for your monthly mortgage payments.
What is Private Mortgage Insurance?
Private mortgage insurance (PMI) is insurance that protects the lender if you default on your mortgage. If you put down less than 20% when you bought your home, chances are you're paying for PMI.
While PMI can be annoying - it's another monthly payment, after all - it does serve a purpose. By insuring the lender, PMI allows people to buy homes with less than 20% down.
Related: <a href="https://www.superbroker.com/blog/how-much-house-can-you-really-afford/">How much house can you really afford?</a>
Does a Higher Credit Score Help You Get a Lower Interest Rate on a Mortgage?
A higher credit score can help you get a lower interest rate on a mortgage. That's because lenders view borrowers with higher credit scores as less of a risk.
If you're looking to get the best interest rate possible, aim for a credit score of 760 or higher. This is the "prime" credit score range, and you'll likely get the best interest rate available if your score is in this range.
Related: <a href="https://www.superbroker.com/blog/how-to-improve-your-credit-score-before-you-apply-for-a-mortgage/">How to improve your credit score before you apply for a mortgage loan</a>
Are You Buying or Selling a Home in Lakewood?
If you’re not already living in Lakewood, or if you are but you’re looking for a new home, we’re here to help. Call us right now at 562-882-1581 or start browsing our <a href="https://www.superbroker.com/lakewood/">Lakewood real estate listings</a> to find your dream home today!
You can also browse:
<a href="https://www.superbroker.com/long-beach/">Long Beach real estate listings</a>
<a href="https://www.superbroker.com/anaheim/">Anaheim real estate listings</a>
<a href="https://www.superbroker.com/bellflower/">Bellflower real estate listings</a>
<a href="https://www.superbroker.com/signal-hill/">Signal Hill real estate listings</a>
2022-07-14T07:00:00-07:002022-06-24T00:14:08-07:00Allison Van Wigtag:superbroker.com,2012-09-20:20352Down Payment Assistance in Long Beach and Lakewood<a href="https://www.superbroker.com/"><img src="https://assets.site-static.com/userfiles/1649/image/Down_Payment_Assistance_Programs_in_Lakewood_and_Long_Beach_CA_-_Buy_a_Home.png" width="940" height="788" />Buying a home</a> is a big undertaking – and if you're like many people, you could use some down payment assistance. In Long Beach and Lakewood, there are a few programs you may be able to take advantage of. This guide explains.
Down Payment Assistance Programs in Long Beach and Lakewood
Check out these down payment assistance programs you may be eligible to use in Long Beach or Lakewood:
Neighborhood LIFT Home Buyer's Program from Neighborhood Housing Services (NHS) of Los Angeles County
California Homebuyer's Down Payment Assistance Program (CHDAP)
Extra Credit Teacher Home Purchase (ECTP) Program
Here's a closer look at each.
About the Neighborhood LIFT Home Buyer's Program from Neighborhood Housing Services (NHS) of Los Angeles County
The Neighborhood <a href="https://longbeach.gov/lbds/hn/homebuyer/">LIFT</a> Home Buyer's Program from Neighborhood Housing Services (NHS) of Los Angeles County offers eligible buyers a $15,000 down payment assistance grant. This is a silent second mortgage with 0% interest that is forgiven over five years.
To be eligible, you must:
Be a first-time homebuyer or haven't owned a home in the past three years
Meet program income requirements
Complete an 8-hour homeownership education course offered by NHS
Contribute at least $1,000 of your own funds towards the purchase of the home
Purchase a home within Los Angeles County ( Long Beach and Lakewood both qualify)
Not exceed the maximum household income limit for Los Angeles County
For more information, visit the NHS website or call (866)-550-5337.
Related: <a href="https://www.superbroker.com/blog/3-common-myths-about-home-appraisals-its-safe-to-ignore/">3 common myths about home appraisals</a>
About the California Homebuyer's Down Payment Assistance Program (CHDAP)
The California Homebuyer's Down Payment Assistance Program (CHDAP) offers eligible buyers a loan of 3% of the purchase price or appraised value to be used for down payment and/or closing costs. The minimum contribution you can make towards the purchase of your home is $1,000. This program has no maximum sales price limit but there are income limits in place.
To be eligible, you must:
Be a first-time homebuyer or haven't owned a home in the past three years
Have at least a 640 credit score
Complete a 8-hour homeownership education course offered by a HUD-approved counseling agency
Contribute at least $1,000 of your own funds towards the purchase of the home
Purchase a home within Los Angeles County ( Long Beach and Lakewood both qualify)
Not exceed the maximum household income limit for Los Angeles County
For more information about this program, visit the CHDAP website or call (310) 996-3042.
Related: <a href="https://www.superbroker.com/blog/can-you-use-a-va-loan-to-buy-a-duplex-in-lakewood/">Can you use a VA loan to buy a duplex in Lakewood?</a>
About the Extra Credit Teacher Home Purchase (ECTP) Program
The Extra Credit Teacher Home Purchase (ECTP) Program offers eligible teachers up to $7,500 of down payment assistance on the purchase of their home. This is a deferred second loan with 0% interest that doesn't have to be repaid until you sell, refinance, or pay off your first mortgage.
To be eligible, you must:
Be a full-time teacher employed by a public school, charter school, or private school accredited by the State Department of Education
Meet program income requirements
Complete a 8-hour homeownership education course offered by a HUD-approved counseling agency
Contribute at least $1,000 of your own funds towards the purchase of the home
Purchase a home within Los Angeles County ( Long Beach and Lakewood both qualify)
Not exceed the maximum household income limit for Los Angeles County
For more information about this program, visit the ECTP website or call (213) 241-1000.
Are You Buying or Selling a Home in Lakewood?
If you’re not already living in Lakewood, or if you are but you’re looking for a new home, we’re here to help. Call us right now at 562-882-1581 or start browsing our <a href="https://www.superbroker.com/lakewood/">Lakewood real estate listings</a> to find your dream home today!
You can also browse:
<a href="https://www.superbroker.com/long-beach/">Long Beach real estate listings</a>
<a href="https://www.superbroker.com/anaheim/">Anaheim real estate listings</a>
<a href="https://www.superbroker.com/bellflower/">Bellflower real estate listings</a>
<a href="https://www.superbroker.com/signal-hill/">Signal Hill real estate listings</a>
2022-06-20T07:00:00-07:002022-06-23T23:58:44-07:00Allison Van Wigtag:superbroker.com,2012-09-20:18578Can You Use a VA Loan to Buy a Duplex in Lakewood?<img src="https://assets.site-static.com/userfiles/1649/image/How_to_Use_a_VA_Loan_to_Buy_a_Duplex_in_Lakewood_or_Long_Beach.jpg" width="1000" height="562" />
If you’re like many people who qualify to use a loan from the Department of Veterans Affairs, you're wondering whether you can use a VA loan to purchase a duplex – and the simple answer is yes. Here's what you need to know.
Can You Use a VA Loan to Buy a Duplex in Lakewood?
The Department of Veterans affairs backs home loans for former service members, qualifying dependents, some former government employees, and others. You can use these government backed home loans to purchase an investment property in some cases. However, if you choose to use one of these loans to purchase an investment property, you need to know that you must live in the property as your primary residence for at least three years. (The exception is when you sell the property and satisfy the VA loan.)
Does That Mean You Can Buy a Duplex in Lakewood With a VA Loan?
You can use your VA loan benefit to purchase a duplex in Lakewood. In fact, you could use it to purchase a triplex or fourplex, too. You can't use a VA loan to purchase a property that has more than four dwelling units.
Remember, too, that you must live in one of the units in order to qualify to use your VA loan for a purchase like this.
Related: <a href="https://www.superbroker.com/blog/3-simple-ways-to-give-your-home-office-a-style-boost-to-sell-your-home/">How to improve your home office so buyers fall in love</a>
Why Would You Use Your VA Loan to Buy a Duplex in Lakewood?
Many investors feel that using a VA loan to buy a duplex, triplex or fourplex is a smart idea. That's because you can live in one unit while renting out the remaining units to tenants. If you charge the right amount in rent, you'll be able to cover your monthly mortgage payments without coming out of your own pocket. You may even be able to make more than you need, which means you can turn around and put your profits into upgrading and maintaining the home, or you can use them to fund additional real estate investments.
Related: <a href="https://www.superbroker.com/blog/3-great-tips-for-using-plants-when-you-stage-your-home/">How to use plants to stage a home</a>
Are You Buying or Selling a Home in Lakewood?
If you’re not already living in Lakewood, or if you are but you’re looking for a new home, we’re here to help. Call us right now at 562-882-1581 or start browsing our <a href="https://www.superbroker.com/lakewood/">Lakewood real estate listings</a> to find your dream home today!
You can also browse:
<a href="https://www.superbroker.com/long-beach/">Long Beach real estate listings</a>
<a href="https://www.superbroker.com/anaheim/">Anaheim real estate listings</a>
<a href="https://www.superbroker.com/bellflower/">Bellflower real estate listings</a>
<a href="https://www.superbroker.com/signal-hill/">Signal Hill real estate listings</a>
2022-04-11T19:00:00-07:002022-03-31T23:52:41-07:00Allison Van Wigtag:superbroker.com,2012-09-20:17963How Much is Capital Gains Tax on a Property in Lakewood?<img src="https://assets.site-static.com/userfiles/1649/image/How_Much_is_Capital_Gains_Tax_-_Sell_Your_Home_in_Lakewood.jpg" width="1000" height="664" />
If you sell a home in Lakewood or Long Beach, you could be subject to capital gains tax period but how much could you have to pay?
Please note you should always seek advice from a certified tax attorney or financial advisor. The following is for general information only.
What is Capital Gains Tax?
Capital gains tax is a tax that the government requires you to pay when you sell something for a profit. There are two types of capital gains tax: short term and long term.
Short term capital gains tax comes into play if you sell your home in one year or less. Long term capital gains tax is only an issue if you've held your home for more than a year.
Related: <a href="https://www.superbroker.com/blog/how-much-house-can-you-really-afford/">How much house can you really afford?</a>
How Much Can You Expect to Pay in Capital Gains?
Different capital gains tax rates. Statistically, most single people have to pay a 15% capital gains rate; a smaller portion will fall into the 20% long term capital gains rate. Here’s the breakdown:
Your tax rate is 0 percent on long-term capital gains if you’re a single filer who earns less than $40,400 per year, you’re married filing jointly and you earn less than $80,800, or you’re a head of household who earns less than $54,100.
Your tax rate is 15 percent on long-term capital gains if you’re a single filer who earns more than $40,401 per year, you’re married filing jointly and you earn more than $80,801, or you’re a head of household who earns between $54,101 and $473,750.
Your tax rate is 20 percent on long-term capital gains if you’re a single filer who earns more than $445,851 per year, you’re married filing jointly and you earn more than $501,601, or you’re a head of household who earns more than $473,751.
Is There a Primary Residence Tax Exemption?
The Internal Revenue Service gives everyone a $250,000 tax free exemption on capital gains from a primary residence. However, you should talk to a financial professional if you think that the primary residence tax exemption will affect you. The requirements for the primary residence tax exemption are as follows:
The home must be your primary residence
You must have owned the home for at least two years
You must have lived in the home for at least two of the last five years
You must not have taken this exclusion in the past two years
Related: <a href="https://www.superbroker.com/blog/how-to-improve-your-credit-score-before-you-apply-for-a-mortgage/">How to improve your credit score so you can apply for a mortgage</a>
Are You Buying or Selling a Home in Lakewood?
If you’re not already living in Lakewood, or if you are but you’re looking for a new home, we’re here to help. Call us right now at 562-882-1581 or start browsing our <a href="https://www.superbroker.com/lakewood/">Lakewood real estate listings</a> to find your dream home today!
You can also browse:
<a href="https://www.superbroker.com/long-beach/">Long Beach real estate listings</a>
<a href="https://www.superbroker.com/anaheim/">Anaheim real estate listings</a>
<a href="https://www.superbroker.com/bellflower/">Bellflower real estate listings</a>
<a href="https://www.superbroker.com/signal-hill/">Signal Hill real estate listings</a>2022-03-11T09:01:00-07:002022-04-07T13:04:32-07:00Concierge Van Wig & Associatestag:superbroker.com,2012-09-20:16980How Much House Can You Really Afford?<img src="https://assets.site-static.com/userfiles/1649/image/How_Much_House_Can_You_Really_Afford_-_Long_Beach_Homes_for_Sale.png" width="940" height="788" />
If you’re like many people, you enjoy looking at <a href="https://www.superbroker.com/property-search/results/?searchtype=3">Lakewood real estate listings</a> online – but how do you know exactly how much house you can really afford? This guide explains.
How Much House Can You Really Afford?
Allison Van Wig consulted with one of her preferred lenders and his advice was a realistic guide to use. Hopefully this will help you answer the big question.
To put it very simply, in order to keep a monthly house payment the same then the following formula will keep you in the ball park. For every one-half % change either up or down in Interest rates, the buying power is also affected either up or down by 5%. Like a teeter-totter ... rates go down, buying power goes up OR ... rates go up and buying power goes down.
To determine what that monthly payment should look like, when it comes to housing, affordability is a moving target. The two main factors that change are housing prices and interest rates. Remember the tetter-totter affect mentioned above ... A rising interest rate market will have the biggest impact on dropping affordability, particularly for first time home buyers with lower down payments. From a lender’s perspective, a homebuyer’s affordability is based on their income and how much monthly debt they have.
The level of debt you have (including student loans, car payments, credit card debt and other types of debt), your lifestyle and a variety of other issues will determine how much you can really afford to spend on a home. You’ll even want to consider extra expenses, such as property taxes and homeowners association dues.
The 45% Rule
The most common form of home financing are conventional loans. Generally speaking, the maximum debt-to-income ratio is 45%. Debt ratio is the percentage of gross income (before tax) used to pay monthly obligations. As an example, a gross monthly income of $10,000 could have a maximum $4,500 of monthly debt. The maximum allowed debt-to-income ratio varies depending on loan program and other circumstances.
What a lender qualifies you for, and what can afford can vary, so it’s important to understand your budget to make smart financial decisions.
Your Debt-to-Income Ratio
Lenders look at your debt-to-income ratio, or DTI, to figure out how much money to lend you. If you have zero debt – your car is paid off, you don’t have any student loans, and you barely carry a balance on your credit cards – lenders will see that you have a very low DTI. However, if you have a car loan, student loans or other credit accounts with balances, your DTI can creep up.
Lenders want to see that you won’t spend more than 45 percent of your income on:
Credit card payments
Car loans
Student loans
Other loans
Your monthly mortgage payment including other housing expenses: property taxes, homeowner’s insurance, PMI (if applicable), and any HOA dues.
Here's an example: Let’s say you have a $400 car payment, no credit card debt and a $3,000 house payment. You make $8,000 a month.
Add your car payment and house payment together – you spend $3,400 on your monthly obligations. If you’re making $8,000 a month, your DTI is 42.5 percent. For more answers as to your particular situation, let Allison know and she can advise you as to who you could call.
Are You Buying or Selling a Home in Lakewood?
If you’re not already living in Lakewood, or if you are but you’re looking for a new home, we’re here to help. Call us right now at 562-882-1581 or start browsing our <a href="https://www.superbroker.com/lakewood/">Lakewood real estate listings</a> to find your dream home today!
You can also browse:
<a href="https://www.superbroker.com/long-beach/">Long Beach real estate listings</a>
<a href="https://www.superbroker.com/anaheim/">Anaheim real estate listings</a>
<a href="https://www.superbroker.com/bellflower/">Bellflower real estate listings</a>
<a href="https://www.superbroker.com/signal-hill/">Signal Hill real estate listings</a>2022-02-01T17:28:00-07:002022-02-01T17:57:42-07:00Concierge Van Wig & Associatestag:superbroker.com,2012-09-20:17265What NOT to Say on a Home Tour<img src="https://assets.site-static.com/userfiles/1649/image/3_Things_You_Should_Never_Say_When_Youre_Touring_Homes_-_Lakewood_Real_Estate.png" width="940" height="788" />
When you’re on the hunt for your dream home, your <a href="https://www.superbroker.com/" target="_blank">Lakewood REALTOR®</a> will show you a variety of great places – but beware: There are some things you shouldn’t say while you’re out touring homes.
What NOT to Say When You’re on a Home Tour
Check out these things you should keep to yourself until you’re in the car or alone (outside the house) with your REALTOR:
How much you LOVE the home
What you hate about the home
How you think the home is priced wrong
Here’s a closer look at each.
How Much You LOVE the Home
While you might appreciate and compliment a home's curb appeal, be cautious about lavishing a property with your full-throated praise.
If you're in love with a home because of its first-floor main bedroom, or because it's situated in the neighborhood you've always wanted to live in, or because it's located in an ideal school district, or because it's close to the kids' existing schools, speak quietly or better yet, wait until you get outside. It is best to keep your cards close to the vest.
Keep in mind that some homeowners may hang around the property, or close by with their neighbors, or have home monitoring cameras in place. You don't want them to hear about how well the home would suit your needs and lose your negotiating power.
What You Hate About the Home
Be sure not to openly rant about what you don’t like about a house, including a homeowner’s personal choices in decor. And if you hear your friend, companion, or family member begin to harp on a perceived negative aspect of a home, do your best to curb their enthusiasm. It's always wise not to leave negative impressions during a showing, because if you do end up putting in an offer on the house, you could possibly face a bidding war—and your negative commentary will be remembered.
How You Think the Home is Priced Wrong
You may feel that a property is grossly over-priced or that the seller will never get their asking price. Although you may be tempted to adamantly voice this sentiment, do your best to fight the urge.
The house could be within range of comparable homes in the area. Besides, some sellers aren’t willing to lower their asking price until their home has been listed for a couple of months, or they have to sell their property quickly.
You also shouldn’t say that you think the home is undervalued. That’s something you only discuss with your agent, and only when you’re alone.
Whatever your opinions about a home during a tour, once you exit the property, feel free to voice every thought and concern with your agent.
Are You Buying or Selling a Home in Lakewood?
If you’re not already living in Lakewood, or if you are but you’re looking for a new home, we’re here to help. Call us right now at 562-882-1581 or start browsing our <a href="https://www.superbroker.com/lakewood/">Lakewood real estate listings</a> to find your dream home today!
You can also browse:
<a href="https://www.superbroker.com/long-beach/">Long Beach real estate listings</a>
<a href="https://www.superbroker.com/anaheim/">Anaheim real estate listings</a>
<a href="https://www.superbroker.com/bellflower/">Bellflower real estate listings</a>
<a href="https://www.superbroker.com/signal-hill/">Signal Hill real estate listings</a>2022-01-20T21:00:00-07:002022-02-01T17:11:05-07:00Concierge Van Wig & Associatestag:superbroker.com,2012-09-20:16979Is There a Secret to Saving for a Down Payment on a Home?<img src="https://assets.site-static.com/userfiles/1649/image/Is_There_a_Secret_to_Saving_for_a_Down_Payment_-_Lakewood_CA_Homes_for_Sale.png" width="940" height="788" />
The more money you save for a down payment, the better off you’ll be – your mortgage payments will be lower, and you’ll likely qualify for better terms and interest rates. And, if you save more than 20 percent of a home’s purchase price, you can avoid paying for private mortgage insurance, or PMI. But is there a secret to saving for a down payment on a home? This guide explains.
Is There a Secret to Saving for a Down Payment on a Home?
The biggest secret to saving for a down payment on a home is that there is no secret. It’s all about numbers. If you bring in more money than you spend, you can put away the excess in savings and allow it to build up until you reach your target. The key is that you have to bring in more than you spend, which is the biggest challenge for most people. It’s not as if you can go demand that your boss doubles your salary or immediately find a new, higher-paying job, though – so what it boils down to is trimming expenses so that you spend less.
It’s not a diet for your finances. It’s a whole lifestyle change. You may have to cut spending on things like:
Cable TV (if you’re one of the few people who still has it)
Gym memberships you don’t use
Subscriptions you don’t use
Dining out
You should also consider opening a dedicated savings account, automating deposits into that account, and looking for down payment assistance programs.
Related: <a href="https://www.superbroker.com/blog/how-to-find-the-right-real-estate-agent-to-buy-a-home-in-lakewood/">How to find the right real estate agent to buy a home in Lakewood</a>
Opening a Separate Savings Account
It’s harder to get into your savings when it’s in a different account. On the flip side of the coin, if you keep your savings in your checking account, you’ll never have a clear picture of just how much you have for your down payment – and you may be more comfortable spending that money than you should be.
Automating Savings Deposits
Set up an automatic transfer to your savings account each time you get paid. That way, the money “comes off the top” and you’re less likely to miss it – and you save yourself the hassle of putting it in there yourself. (Another benefit: You won’t have the chance to waffle on the decision to save that cash. “Well, I could really use this money for such-and-such this month” isn’t an option if you don’t actually make the transaction yourself.)
Look for Down Payment Assistance Programs
Ask your Lakewood REALTOR® about down payment assistance programs that may help you save some money of your own. There may be a program in place to help you out.
Related: <a href="https://www.superbroker.com/blog/new-to-real-estate-investing-read-this-first/">New to real estate investing? This guide can help</a>
Are You Buying or Selling a Home in Lakewood?
If you’re not already living in Lakewood, or if you are but you’re looking for a new home, we’re here to help. Call us right now at 562-882-1581 or start browsing our <a href="https://www.superbroker.com/lakewood/">Lakewood real estate listings</a> to find your dream home today!
You can also browse:
<a href="https://www.superbroker.com/long-beach/">Long Beach real estate listings</a>
<a href="https://www.superbroker.com/anaheim/">Anaheim real estate listings</a>
<a href="https://www.superbroker.com/bellflower/">Bellflower real estate listings</a>
<a href="https://www.superbroker.com/signal-hill/">Signal Hill real estate listings</a>2022-01-14T17:23:00-07:002022-01-14T14:10:46-07:00Concierge Van Wig & Associatestag:superbroker.com,2012-09-20:16978How to Improve Your Credit Score Before You Apply for a Mortgage<img src="https://assets.site-static.com/userfiles/1649/image/How_to_Improve_Your_Credit_Score_Before_You_Apply_for_a_Mortgage.jpg" width="1000" height="666" />
If you’re like most people, you already know that you need an acceptable credit score in order to qualify for the best rates and terms on a mortgage – but what can you do to boost your score if it’s lower than you want it to be? This guide gives you some helpful tips that you can discuss with your financial adviser.
How to Improve Your Credit Score Before You Apply for a Mortgage
Most homebuyers need a mortgage loan to buy a home. And in order to qualify for the lowest interest rates and best terms, you need to have a good credit score. That may mean you need to take a few steps to improve your credit score – but before you do, you need to know how lenders use that information.
Lenders look at your credit score to determine whether you’re likely to repay a loan. That’s because part of your credit score is based on how many lenders you’ve paid back in the past, and whether you’ve paid them back in a timely manner.
The following figure illustrates the factors that combine to make up your credit score.
<img src="https://assets.site-static.com/userfiles/1649/image/What_Makes_a_Credit_Score.png" width="1080" height="1080" />
Credit scores are divided into categories ranging from excellent to very poor. The following figure shows you which scores fall into which categories.
<img src="https://assets.site-static.com/userfiles/1649/image/What_Lenders_Consider_a_Good_Credit_Score.png" width="1080" height="1080" />
Before you do anything, you should get a copy of your credit report. <a href="https://www.ftc.gov/faq/consumer-protection/get-my-free-credit-report">Thanks to the Federal Trade Commission</a>, everyone is entitled to one free copy of their credit report each year. (You can get yours from <a href="http://www.annualcreditreport.com/">AnnualCreditReport.com</a>.) Check your report for errors, which can drag down your score. If you find any errors, report them to the credit bureau – they’re required to look into your complaint.
From there:
If you have one late payment on your record, you can call the company that registered it and ask them to remove it. Many companies are willing to work with you and take off one or two late payments, provided you haven’t made it a habit and have paid all your payments on time since the mistake.
Consider increasing your available credit. You can do that in two ways: You can pay off your debt or ask your creditors to increase your credit limits. That can help improve your debt-to-income ratio. You should talk to a financial adviser if this is something you’re thinking about doing, though, just to make sure it’s the right choice for you.
Make sure you pay on time for all your revolving credit accounts. Even one late payment can damage your credit score.
Take your time. You can’t boost your credit score overnight; it takes time to repair and improve it. That’s okay, because waiting also gives you more time to save for your down payment.
Are You Buying or Selling a Home in Lakewood?
If you’re not already living in Lakewood, or if you are but you’re looking for a new home, we’re here to help. Call us right now at 562-882-1581 or start browsing our <a href="https://www.superbroker.com/lakewood/">Lakewood real estate listings</a> to find your dream home today!
You can also browse:
<a href="https://www.superbroker.com/long-beach/">Long Beach real estate listings</a>
<a href="https://www.superbroker.com/anaheim/">Anaheim real estate listings</a>
<a href="https://www.superbroker.com/bellflower/">Bellflower real estate listings</a>
<a href="https://www.superbroker.com/signal-hill/">Signal Hill real estate listings</a>
2022-01-11T12:30:00-07:002022-01-05T19:33:38-07:00Concierge Van Wig & Associatestag:superbroker.com,2012-09-20:168433 Key Money Matters to Consider in an Offer for Your Home <img src="https://assets.site-static.com/userfiles/1649/image/3_Key_Money_Matters_to_Consider_in_an_Offer_for_Your_Home_.jpg" width="1024" height="683" />
Your home is on the market, buyers are showing interest, and the offers are coming in. When entertaining offers, and choosing one that's best for you, consider these three key money matters.
Buyer Financing and All-Cash Offers. Which is best for you? Which do you prefer? Regardless of the dollar amount a potential buyer may write in their offer, if they plan to get a mortgage, their offer should come with a preapproval letter. Although a preapproval isn't the same as a mortgage approval, which is a guarantee of funding, it lets you know that a buyer is a good candidate to receive financing.
If a buyer submits an all-cash offer, a proof of funds is necessary—typically a bank or investment account statement—to show that the buyer has the funds to purchase your home. All-cash offers can be very appealing because they typically have a shorter escrow period, since you don't have to wait for a buyer's full mortgage approval. You should know, however, that an all-cash buyer does wield considerable negotiation power due to the efficiencies created by their cash offer. As a result of their leverage, they could offer less than your asking price, for example. These are key considerations when comparing an all-cash buyer to one with a mortgage.
Good Faith Money
To prove that a buyer is serious about purchasing a home they will submit "good faith" or "earnest" money to your brokerage firm—the higher the deposit the stronger the offer, so you may consider choosing an offer with a substantial good faith deposit. The money goes toward a down payment if the buyer closes on your house. If the buyer reneges on purchasing your property, you may be able to keep the deposit.
2021-12-25T07:30:00-07:002021-12-22T14:36:19-07:00Concierge Van Wig & Associatestag:superbroker.com,2012-09-20:163874 Shocking Things to Look for When You Tour a Home<img src="https://assets.site-static.com/userfiles/1649/image/4_Shocking_Things_to_Look_for_When_You_Buy_a_Home.jpg" width="1000" height="666" />
When you're buying a home, the seller has to tell you about any major defects that they know about - but what about the things the seller doesn't know about? There may be defects in a home that you'll only discover by walking around and looking yourself, which can save you time and money on making an offer and hiring a home inspector. This guide explains.
4 Shocking Things to Look for When You Buy a Home
Check out the four things you should always look for when you tour a home:
Water stains
Leaks
Wood rot
Bulges under carpet or discoloration on floors
Here's a closer look at each.
#1 Thing to Look for on a Home Tour: Water Stains
Water stains on the ceiling or the walls near doors and windows can be a major red flag. They often mean that there's a leak somewhere - or that there was a leak in the past. Remember, water damage never gets better with time; it only becomes worse. And if the seller didn't repair the leak issue immediately, there's a good chance that some water got trapped in the home, and that can lead to mold, mildew and a whole host of other problems.
#2 Thing to Look for on a Home Tour: Leaks
Check behind toilets and under sinks to see if there are any visible leaks. While you're peeking, look for signs that there has been a leak in the past, such as blistered finish on cabinet floors or rust around fixtures. That can be a sign that there's an active problem or that there was a leak in the past, and you'll want to make sure that the seller has handled it appropriately before you put in your offer.
#3 Thing to Look for on a Home Tour: Wood Rot
Wood rot is a sign that condensation, rain and other moisture-related issues are present. Wood rot is a pain to deal with - you'll have to replace it - but the problem could be bigger than that. You'll have to find out what caused the problem and treat the issue before simply replacing wood, otherwise it's going to happen again.
#4 Thing to Look for on a Home Tour: Bulges Under Carpet or Discoloration on Floors
Bulges under the carpet or discoloration on hardwoods can indicate flooding problems or an uneven foundation. You should talk to your real estate agent if you find either of these issues in a home you're interested in buying; your agent will be able to talk to the seller's agent and get more information for you.
Are You Buying or Selling a Home in Lakewood?
If you’re not already living in Lakewood, or if you are but you’re looking for a new home, we’re here to help. Call us right now at 562-882-1581 or start browsing our <a href="https://www.superbroker.com/lakewood/">Lakewood real estate listings</a> to find your dream home today!
You can also browse:
<a href="https://www.superbroker.com/long-beach/">Long Beach real estate listings</a>
<a href="https://www.superbroker.com/anaheim/">Anaheim real estate listings</a>
<a href="https://www.superbroker.com/bellflower/">Bellflower real estate listings</a>
<a href="https://www.superbroker.com/signal-hill/">Signal Hill real estate listings</a>2021-12-20T11:05:00-07:002021-12-02T21:08:24-07:00Concierge Van Wig & Associatestag:superbroker.com,2012-09-20:16389How to Find the Right Real Estate Agent to Buy a Home in Lakewood<img src="https://assets.site-static.com/userfiles/1649/image/How_to_Find_the_Right_Real_Estate_Agent_to_Buy_a_Home_in_Lakewood.jpg" width="1000" height="666" />
Buying a home is a big deal - so if you're thinking about joining the fray and finding your dream space, it's important that you work with the right real estate agent for your needs. So how do you find the right agent when you're buying a house? This guide explains.
How to Find the Right Real Estate Agent to Buy a Home in Lakewood
First things first: You deserve to work with someone you trust. You should only work with a real estate agent who has your best interests at heart, and one who will always put your needs first.
Here's how you find the agent for you:
Get referrals from friends and family
Check reviews
Communicate with the agent
Here's a closer look at each.
Gather Referrals From Friends and Family
There are dozens - if not more - real estate agents who specialize in any given market. In big communities like Long Beach and Lakewood, it can be tough to sift through all the real estate professionals who have hung up a shingle. That means your best bet is to ask friends and family who they've worked with in the past - and when they give you names, do a little homework. Make sure the agents on your list have worked extensively in the city you want to live in; otherwise, you run the risk of your agent missing important details that you'll need.
Check Reviews
When you've zeroed in on real estate agents who work in Lakewood, Long Beach or another community where you want to live, start the real work of checking online reviews. You should short-list agents who have stellar reviews that say things like "worked hard to find exactly what we wanted" and "helped us negotiate the best deal."
Communicate With the Agent
When you find a real estate agent who has a solid track record of helping clients, open the lines of communication. You'll be able to get a feel for whether you and the agent will work well together. Use your preferred method of communication, whether it's a phone call, a text or an email - that way, you'll be able to tell how the agent responds (and how quickly the agent responds) to make sure you're a good fit for each other.
Are You Buying or Selling a Home in Lakewood?
If you’re not already living in Lakewood, or if you are but you’re looking for a new home, we’re here to help. Call us right now at 562-882-1581 or start browsing our <a href="https://www.superbroker.com/lakewood/">Lakewood real estate listings</a> to find your dream home today!
You can also browse:
<a href="https://www.superbroker.com/long-beach/">Long Beach real estate listings</a>
<a href="https://www.superbroker.com/anaheim/">Anaheim real estate listings</a>
<a href="https://www.superbroker.com/bellflower/">Bellflower real estate listings</a>
<a href="https://www.superbroker.com/signal-hill/">Signal Hill real estate listings</a>2021-12-11T11:28:00-07:002021-11-21T18:42:51-07:00Concierge Van Wig & Associatestag:superbroker.com,2012-09-20:16380New to Real Estate Investing? Read This First!If you’re a new real estate investor, you’re probably looking for tips and tricks anywhere you can find them – and this guide is here to help.
New to Real Estate Investing? Check Out This Guide
As a new investor, the first thing you should do is decide what real estate investing strategy works best for you. These are the most common:
Long-term buy and hold. In this strategy, you purchase a house, make repairs (if necessary), find a tenant and rent out the property for five or more years. You can hang on to the house as long as you’d like (most people hold on to it as long as it’s profitable) and sell it when you’re ready. You may set aside a percentage of your monthly income to invest in the property itself or toward a new investment down the road.
Short-term buy and hold. In this strategy, you buy a house, make repairs, find a tenant and rent out the property for a shorter period of time – usually less than five years. You then sell the property for a profit and use the proceeds (plus whatever you’ve saved from your rental income) to invest in another real estate property.
Flipping. In this strategy, you buy a home that needs a little TLC, fix it up, and sell it for a price that’s greater than your original purchase price. This strategy is usually best for people who have the funding to make repairs on a home and who can tolerate the risk of it not selling for as much as they’ve put into it.
After you’ve chosen your investment strategy, these are the steps you need to follow:
Identify the property type you want
Brush up your credit
Find a talented REALTOR®
Here’s a closer look at each.
Real Estate Investing Tip #1: Identify the Property Type You Want
Some people choose to buy a single-family home, while others buy a duplex or triplex so that they can live in one unit and rent out the remaining unit (or units). The type of investment strategy you choose will help you decide what type of property will be best for you. For example, you may want to buy a single-family house in a developing area if you’re trying to flip it.
Real Estate Investing Tip #2: Brush Up Your Credit
If you’re using conventional lending (rather than savings or a different form of financing, such as a hard money lender), you’ll want to brush up your credit as best you can. Conventional lenders want to see at least semi-decent credit scores before they’ll give you the cash to buy a home. (On the other hand, hard money lenders are more likely to be concerned with a property’s value after it’s repaired than they would be with your credit score.)
Real Estate Investing Tip #3: Find a Talented REALTOR
Ideally, you’ll find a <a href="https://www.superbroker.com/">Lakewood real estate agent</a> who’s familiar with investment properties and helping you get the best possible deal, whether you’re looking for a single-family home or condo, duplex or triplex. Your REALTOR will be there as you search for properties and when you choose to make an offer. Your REALTOR will also help you negotiate with sellers and stick with you through the closing process and beyond.
Are You Buying or Selling a Home in Lakewood?
If you’re not already living in Lakewood, or if you are but you’re looking for a new home, we’re here to help. Call us right now at 562-882-1581 or start browsing our <a href="https://www.superbroker.com/lakewood/">Lakewood real estate listings</a> to find your dream home today!
You can also browse:
<a href="https://www.superbroker.com/long-beach/">Long Beach real estate listings</a>
<a href="https://www.superbroker.com/anaheim/">Anaheim real estate listings</a>
<a href="https://www.superbroker.com/bellflower/">Bellflower real estate listings</a>
<a href="https://www.superbroker.com/signal-hill/">Signal Hill real estate listings</a>
2021-11-17T10:20:00-07:002021-11-21T17:24:30-07:00Concierge Van Wig & Associatestag:superbroker.com,2012-09-20:15087When Should You Offer Over Asking Price on a Lakewood Home for Sale?<img src="https://assets.site-static.com/userfiles/1649/image/When_Should_You_Offer_Over_Asking_Price_on_a_Lakewood_Home_for_Sale.png" width="940" height="788" />
In some cases, it’s smart to offer more than what the seller is asking. In fact, doing so could help you seal the deal – but you should always rely on your <a href="https://www.superbroker.com/">Lakewood REALTOR’s®</a> guidance. So when should you offer over asking price on a Lakewood home for sale? This guide explains.
When Should You Offer Over Asking Price on a Lakewood Home for Sale?
Normally, people who want to buy a home offer the lowest reasonable price and hope the seller accepts it – but in some cases, it’s smart to offer over asking price. Here are three times it may be acceptable, or even a good idea, to offer more than the seller is trying to get:
The home is seriously underpriced
You’re competing with cash buyers
Your agent tells you that you’re in a seller’s market
Here’s a closer look at each.
Situation #1 Where Offering Over Asking Price Makes Sense: The Home is Seriously Underpriced
Sometimes sellers underprice their home. That can happen when the seller is in a big rush to sell, is hoping to spark a bidding war, or doesn’t know the home’s true value. In any case, it can help you to offer more than what the seller wants – especially if there’s going to be a bidding war. A higher offer can fast-forward you through the whole process and encourage the seller to accept your deal.
Related: <a href="https://www.superbroker.com/blog/can-you-get-a-mortgage-with-student-loan-debt/">How hard is it to get a mortgage with student loan debt?</a>
Situation #2 Where Offering Over Asking Price Makes Sense: You’re Competing With Cash Buyers
Cash buyers are desirable to sellers because they know that the financing isn’t going to fall through; these people have the money on-hand to buy the house outright. Sometimes offering more than asking price is wise when you’re up against cash buyers, who likely have a cap on how much they can pay; if you can offer more than the cash buyers are offering, the sellers may choose your offer to bring in a bigger profit.
Situation #3 Where Offering Over Asking Price Makes Sense: Your Agent Tells You That You’re in a Seller’s Market
When you’re in a seller’s market, that means there are more buyers than there are available homes. Sellers have a mathematical advantage in this situation; buyers are going to be competing for the few homes that are on the market. That means as a buyer, your offer really needs to stand out – and one way to make it do so is to offer more than what the seller is asking.
Related: <a href="https://www.superbroker.com/blog/im-buying-a-house-but-i-dont-want-to-join-an-hoa-what-can-i-do/">I’m buying a house but don’t want to join an HOA – now what?</a>
Are You Buying or Selling a Home in Lakewood?
If you’re not already living in Lakewood, or if you are but you’re looking for a new home, we’re here to help. Call us right now at 562-882-1581 or start browsing our <a href="https://www.superbroker.com/lakewood/">Lakewood real estate listings</a> to find your dream home today!
You can also browse:
<a href="https://www.superbroker.com/long-beach/">Long Beach real estate listings</a>
<a href="https://www.superbroker.com/anaheim/">Anaheim real estate listings</a>
<a href="https://www.superbroker.com/bellflower/">Bellflower real estate listings</a>
<a href="https://www.superbroker.com/signal-hill/">Signal Hill real estate listings</a>2021-08-14T08:24:00-07:002021-08-09T16:33:15-07:00Concierge Van Wig & Associatestag:superbroker.com,2012-09-20:14985Should You Pay Off Your Mortgage Early? Pros and Cons to Consider <img src="https://assets.site-static.com/userfiles/1649/image/Should_You_Pay_Off_Your_Mortgage_Early_.jpg" width="640" height="480" />
You’ve signed on the dotted line and purchased your first home. For the most part, you’ve always been financially responsible—that’s how you were able to move into your new residence in the first place. Now that you’ve gotten a couple of mortgage payments under your belt, you wonder if you should consider making extra payments to pay off your mortgage early. Here, we’ve summarized a few pros and cons to consider, according to an article shared this month by Investopedia.
Pros
Saving money
An obvious benefit of paying off your mortgage ahead of schedule is the guaranteed savings on mortgage interest, which compounded for 30 years, can save you tens—and in some cases hundreds—of thousands of dollars in interest payments. Otherwise, the amortization schedule in your mortgage documents disclose that you’ll pay over two times the purchase price of your home before you own it outright.
Financial security
Without the expense of a monthly mortgage payment you may feel that the possibility of unemployment or underemployment is not as intimidating, which can bring you peace of mind. Or, you may feel financially secure enough to take a job or pursue a career that pays less money than your previous occupation without worrying that you might lose your home.
A reliable return on investment
Paying off your mortgage early can provide a return on your investment that is very often much more reliable than investments in the stock market.
Cons
Mortgage interest savings can be outpaced by other investment options
Some people say paying off your mortgage early isn’t a wise move, claiming that if you put the extra payments in other investments your rate of return could outperform mortgage interest savings.
A loss of tax deductions
Mortgage interest payments provide tax breaks for homeowners, which will end with the early pay off of your mortgage.2021-07-25T12:12:00-07:002021-07-31T20:16:09-07:00Concierge Van Wig & Associatestag:superbroker.com,2012-09-20:14898Can You Get a Mortgage With Student Loan Debt?<img src="https://assets.site-static.com/userfiles/1649/image/Can_You_Get_a_Mortgage_With_Student_Loan_Debt.jpg" width="1000" height="666" />
If you’re like many people, you’re a college graduate with more than a little student loan debt – but you want to buy a home. So can you get a mortgage with student loan debt?
Absolutely – and this guide explains.
Can You Get a Mortgage With Student Loan Debt?
It’s possible to buy a home when you have student loan debt. However, you do need to know that having student loan debt may affect your homebuying process in a few ways, including your debt-to-income ratio, your credit score, and your down payment.
Debt-to-Income Ratio With Student Loans
Lenders consider your debt-to-income ratio, or DTI, when they’re deciding whether to let you borrow the money to buy a home. Your DTI is calculated by looking at all the money you owe each month and contrasting it to the amount of money you earn every month. The ratio is converted into a percentage, and the higher it is, the less likely a lender is to offer you a mortgage loan.
Lenders like to see DTIs in the 28 percent (or lower) range. That means no more than 28 percent of your monthly income goes toward your monthly debt obligations (including your student loan debt and housing-related costs). It’s possible to borrow with a higher DTI, but you may not qualify for the most competitive interest rates and terms.
Credit Scores With Student Loans
Your student loan debt affects your credit score, even if you make all your payments on time. The lower your credit score is, the harder it is to get a competitive interest rate on your mortgage loan. And if you have late payments on your student loans (or on credit cards or any other lines of credit), you may need to work on improving your credit score and let some time pass before you start applying for a mortgage.
Coming Up With a Down Payment While Paying Off Student Loans
Every dollar you spend on your student loan payments is a dollar you don’t have to save toward a down payment, which can make coming up with a large lump-sum difficult. However, if you’ve saved enough for a down payment – particularly if you’re using a zero-down or low-down-payment loan product – you’ll be in better shape to start applying for mortgages.
Though it’s not necessarily easy, it’s still possible to get a mortgage loan with student loan debt. The best things you can do are work to lower your debt, save up for a down payment, and ensure that your DTI is low enough for a lender to feel comfortable extending you a mortgage loan.
Are You Buying or Selling a Home in Lakewood?
If you’re not already living in Lakewood, or if you are but you’re looking for a new home, we’re here to help. Call us right now at 562-882-1581 or start browsing our <a href="https://www.superbroker.com/lakewood/">Lakewood real estate listings</a> to find your dream home today!
You can also browse:
<a href="https://www.superbroker.com/long-beach/">Long Beach real estate listings</a>
<a href="https://www.superbroker.com/anaheim/">Anaheim real estate listings</a>
<a href="https://www.superbroker.com/bellflower/">Bellflower real estate listings</a>
<a href="https://www.superbroker.com/signal-hill/">Signal Hill real estate listings</a>
2021-07-20T11:24:00-07:002021-07-22T19:26:38-07:00Concierge Van Wig & Associatestag:superbroker.com,2012-09-20:14897What is an Escalation Clause?<img src="https://assets.site-static.com/userfiles/1649/image/What_is_an_Escalation_Clause.jpg" width="1000" height="664" />
An escalation clause is one way to simplify the process if you’re engaged in a bidding war – but what is it, exactly, and how can it make your life easier? This guide explains.
What is an Escalation Clause?
An escalation clause is a sentence or two in a real estate offer that states your bid on a home will automatically increase if someone bids higher than you. For example, it may say something like this:
“Purchase price shall be $500 more than any other bona fide offer submitted to the seller on or before January 15.”
In practice, what this clause does is take manual bidding out of your hands. That means your REALTOR® doesn’t have to call you every time someone outbids you in a bidding war for your dream home – your bid automatically beats the other bidder’s (or multiple bidders) increases.
Is There a Cap on Escalation Clauses?
You should absolutely place a cap on your escalation clause. Usually, you do so by saying up-front how much you’re willing to pay for the home. Your clause may say “up to $800,000,” for example. That way, you don’t end up bidding more than your budget allows – and you still have the option of making another bid after you reach your cap.
Can You Bid in a Bidding War Without an Escalation Clause?
You can absolutely participate in a bidding war without an escalation clause. Your agent will tell you when someone else bids on the home (and how much they bid), and give you the option of putting in a higher bid. All an escalation clause does is automate the process so that you don’t have to get on the phone with your agent every few minutes when another person (or multiple other people) are trying to put in a winning offer on the home you want.
Are You Buying or Selling a Home in Lakewood?
If you’re not already living in Lakewood, or if you are but you’re looking for a new home, we’re here to help. Call us right now at 562-882-1581 or start browsing our <a href="https://www.superbroker.com/lakewood/">Lakewood real estate listings</a> to find your dream home today!
You can also browse:
<a href="https://www.superbroker.com/long-beach/">Long Beach real estate listings</a>
<a href="https://www.superbroker.com/anaheim/">Anaheim real estate listings</a>
<a href="https://www.superbroker.com/bellflower/">Bellflower real estate listings</a>
<a href="https://www.superbroker.com/signal-hill/">Signal Hill real estate listings</a>
2021-07-17T11:11:00-07:002021-07-22T19:13:37-07:00Concierge Van Wig & Associatestag:superbroker.com,2012-09-20:147813 Features Homebuyers Want in 2021 <img src="https://assets.site-static.com/userfiles/1649/image/3_Features_Homebuyers_Want_in_2021_.jpg" width="640" height="427" />
A Shower Without a Curb
A curbless shower means you can walk right in without having to step over a barrier. This kind of feature is the type that buyers look for in a sophisticated main bedroom en suite. Amenities like soaking tubs, steam showers, and similar enhancements, can help homebuyers feel like they’re immersed in luxury, and have booked an appointment at a local spa.
Modern Farmhouse Style
The modern farmhouse interior design style is a trend that has staying power and appeals to lots of buyers. This style is known for the use of sliding barn doors, shiplap and beadboard wall treatments, wide plank floors, and Shaker-style cabinets. Not every element needs to be incorporated, but integrating one or more can evoke a modern farmhouse vibe.
Aside from a sliding barn door as a style choice, it’s also a great space saver for rooms that have small footprints where doors that swing open would present a challenge. You may choose barn doors that are made from driftwood, pine, or reclaimed woods in their natural states for a rustic look, or—for a more modern appearance—opt for painted ones that complement your interior color scheme.
Ceiling Fans
Eighty-three percent of homebuyers want ceiling fans in their homes, according to a recent survey by the National Association of Homebuilders. Ceiling fans can not only help make rooms in your home more comfortable during the hot summer months, but they can also help keep cooling expenses lower by supplementing your air conditioning.2021-07-08T15:57:00-07:002021-07-13T16:04:00-07:00Concierge Van Wig & Associatestag:superbroker.com,2012-09-20:14672I’m Buying a House But I Don’t Want to Join an HOA. What Can I Do? <img src="https://assets.site-static.com/userfiles/1649/image/bigstock-Person-Reading-Hoa-Rules-And--349451941.jpg" width="640" height="427" />
If you plan on buying a newer home chances are it'll be governed by an HOA. In fact, there are over 351,000 homeowners associations in the U.S. and they manage 53 percent of owner-occupied homes, according HomeLight. In 2018 greater than half of newly-built single-family homes had an HOA, so if you’re in the market for a newer home, more than likely it’ll be overseen by this governing body.
Although you’re looking for newer homes with no HOAs you might want to expand your search in communities that have voluntary HOAs. Here’s what a voluntary HOA entails.
Voluntary HOAs
If you purchase a home in a neighborhood with a voluntary HOA it means you’re not obligated to join it. You can opt out, but if you do you won’t be able to make use of the services and facilities that the HOA fees support. You may have to pay to use common facilities, like a pool, clubhouse, or basketball and tennis courts, which are maintained for the use of members.
The upside is that voluntary HOAs cannot enforce their rules on you as a nonmember. They won’t be able to regulate the appearance of your residence—whether it be the color of its exterior, whether or not you install a fence, deck or patio, or how you maintain your lawn and landscape. This also means they can’t fine you.
Mandatory HOAs
A mandatory HOA is one in which you automatically become a member when you purchases a home within a subdivision. When you close on your property you’ll have to sign documents saying that you agree to comply with HOA covenants, conditions, and restrictions (CC&Rs), and that you will pay assessments, fees, or fines that you may incur if you violate those rules. Mandatory HOAs usually maintain common areas and facilities within a community, and oversee the appearance of homes.
2021-07-03T07:41:00-07:002021-07-05T15:46:37-07:00Concierge Van Wig & Associatestag:superbroker.com,2012-09-20:139472 More Things NOT to Do While House Hunting <img src="https://assets.site-static.com/userfiles/1649/image/2_More_Things_NOT_to_Do_While_House_Hunting-1.jpg" width="640" height="427" />
Although you may be eager to find a new home, especially in today’s super-competitive market, be careful to avoid these missteps that could hinder the process of finding the home that’s the perfect fit for you.
Being Afraid to Be Nosy
Buying a home is one of the biggest financial commitments you may make. So you should know as much as you possibly can about a property you love before signing on the dotted line.
When touring a home leave no stone unturned. Don't be hesitant to look inside kitchen and bathroom cabinets and drawers, and bedroom and hallway closets. You need to know how much storage a home has, whether it's inside the kitchen pantry, or the space beneath the stairs. Think of it like this: When you visit a home you're on a reconnaissance mission to determine if the property will be the right fit for you and your family.
The last thing you want is to underestimate or overestimate a home because you didn’t take the time to open every door. Don't worry, the seller should be prepared for you to check every nook and cranny.
Badmouthing the House…
…That is, while you’re still at the property. Unfortunately some sellers may loom very nearby (outside or next door) to eavesdrop on your commentary. Consider this: In the event you find yourself in a bidding war, which seems to be the norm these days, you don't want a homeowner to remember how you badmouthed their design aesthetic. To be on the safe side do your best to hold back extreme critiques until you exit the house and property, and are in the presence of your agent. Then let loose.
And don’t think that your feedback might offend your agent. You should never hesitate to voice your thoughts or concerns about a house, because your agent can make the necessary adjustments to help you land the home of your dreams.2021-05-17T08:54:00-07:002021-05-16T16:57:17-07:00Concierge Van Wig & Associatestag:superbroker.com,2012-09-20:139463 Things Not to Do While House Hunting <img src="https://assets.site-static.com/userfiles/1649/image/3_Things_Not_to_Do_While_House_Hunting_.jpg" width="640" height="427" />
In the effort to find a new home, especially in today’s super-competitive market, do your very best to avoid these mistakes that can hinder the process of finding the home that’s just right for you, or simply make your home search less pleasant.
Don’t Be Inflexible
If your agent has set up an appointment for you to tour a home do your best to maintain a flexible schedule that day. You want to have enough time to thoroughly go through the property and not rush because you scheduled a subsequent engagement. Besides, if you find a home you’re excited about, you might want to spend a little more time there—and if you want to submit an offer immediately, that’ll require more time. (You should also factor-in time to commute to and from a property after an appointment has been scheduled).
Don’t Drinks Lots of Liquids
If you plan to carry your cup of Joe along with you on home tours, think twice. The last thing you want is to have to use the loo. A vacant house may be a tempting place to try to make a pit stop, but since everyone knows that, they’re most likely not to have toilet paper. Try to make pit stops before, between, or after appointments.
Don’t Wear Lace-Up Shoes
For your convenience, don’t wear lace-up shoes when visiting homes. Many residences will be outfitted with new carpet and oftentimes the listing agent will specify that shoes should be checked at the door to keep the flooring clean. Having to untie and tie your shoes at every house you visit can be annoying and inconvenient. So consider wearing flip-flops or slip-on shoes instead. To avoid having to walk barefoot through a house be sure to wear socks with your slip-on shoes.2021-05-14T08:44:00-07:002021-05-20T12:08:01-07:00Concierge Van Wig & Associatestag:superbroker.com,2012-09-20:138582 Home Offer Acceptance Delays You Should Know <img src="https://assets.site-static.com/userfiles/1649/image/2_Home_Offer_Acceptance_Delays_You_Should_Know_.jpg" width="4452" height="2574" />
You’ve submitted an offer to purchase your dream home in Long Beach. The house is situated on a quiet cul-de-sac and it’s just the right size. The backyard has plenty of space for the kids, and the neighborhood has jogging trails—all you could’ve hoped for. With bated breath you await a response from the seller, but how long should you expect to wait?
The time a seller has to accept, reject, or counter your offer can depend on the offer itself and the language in the purchase contract. Most contracts set a time limit for a response. Some states, though, have pre-established timeframes for a reply. Be aware, however, of these exceptions.
When a Bank Sells a Property
When a property is being sold by a bank the timeframe for a response to your offer is likely to be longer. This may be due to a foreclosure or a short sale. In a situation involving a foreclosure you should expect to wait a minimum of two days. For a short sale it could take a month, or longer, to get a response to your offer.
Delays in Delivery
As a buyer you can authorize your agent to accept delivery of the signed, accepted offer on your behalf. Generally, the offer won’t be considered to be delivered until you receive it, if your agent isn’t designated to receive it for you. Delays in delivery can push a contract into expiration.
A buyer’s agent should immediately deliver an offer to the seller’s agent after the buyer has signed it. For instance, if an agent receives his or her buyer’s signature on an offer on Thursday, but waits until after the weekend to send it to the seller, he or she would be submitting an expired offer—if it was subject to a three-day/72-hour expiration.
2021-05-08T09:01:00-07:002021-05-09T17:04:11-07:00Concierge Van Wig & Associates