Home Buying Blogs – South Bay

How to buy a home in the Los Angeles South Bay.

Found 31 blog entries about Home Buying Blogs – South Bay.

A Short Real Estate Terminology DictionaryUnderstanding real estate terminology may not make a home buyer as knowledgeable as a real estate agent, but it can help a buyer understand more about everything from their finances to the market. The process of buying a home is imprecise, and varies from block to block and week to week. This list doesn't cover all terms that a buyer may hear, but it's still a good cheat sheet to have on hand.

Amortization Formula

This formula refers to the total amount the buyer will pay for their loan (as opposed to the total cost of the home). So if a buyer uses their loan to help pay for closing costs, the amount they tack onto the cost of the home will be calculated (plus interest). Homeowners with adjustable interest rates can still use the amortization

223 Views, 0 Comments

5 Things to Know About Real Estate ClosingClosing on a real estate purchase may seem like one simple aspect of the larger process of home buying. However, closing usually requires several steps that may take weeks to complete. Buyers need to understand each part of closing and the general timelines in which they should expect to finish each one. They also need to know the primary actors involved in the closing process. With this information, buyers will know what to expect from the closing process, and what they must do to reach the end.

For informational purposes only. Always consult with a licensed mortgage professional before proceeding with any real estate transaction.

1. Financing

For many people, mortgage financing and the mortgage approval process are the biggest hurdles to

238 Views, 0 Comments

5 Common Types of Real Estate on the Market TodayBefore buying a home, it's essential to take into consideration the various housing types that are available today. From traditional single-family homes to more non-conventional tiny houses, here are five modern styles of real estate popular with buyers currently in the market.

1. Single-Family Homes

These are the most common home style in most cities, the suburbs and rural areas. Constructed on land portioned as a ‘lot,' single-family homes are freestanding and do not share any common walls. Often, there is a garage that is detached or attached to the structure. The pros are that these homes can offer greater space and privacy and owners often have the freedom to do whatever they want with their home if they are not governed by deed or HOA

284 Views, 0 Comments

How Does a 1031 Exchange Work?The 1031 exchange is a loophole for property owners or real estate investors to avoid paying capital gains when selling their property. It's a complicated maneuver to pull off, but essentially involves purchasing a new property that's close to the same value of the property being sold. It's not available for primary residences but can be used for vacation or secondary homes. See how it works and which sales benefit most from the 1031 exchange.

For informational purposes only. Always consult with a certified tax expert before proceeding with any real estate transaction.

How It Works

This rule is defined by the tax code as the purchase of a new piece of real estate property that is similar in value to the real estate property being sold. Under

454 Views, 0 Comments

What Differs Between Mortgage Approval and Prequalification?First-time home buyers may not understand the difference between a mortgage prequlaification and mortgage approval. At the end of the day, prequalification is not the same as being approved for a mortgage loan. While both are important to buying a home, one definitely holds more weight. How should a renter get started and what do they need to know about prequalification, preapproval and the mortgage application process?

Know which one is preferred by sellers. Understand more about mortgage prequalification and approval today.

For informational purposes only. Always consult with a licensed mortgage professional before proceeding with any real estate transaction.

How Prequalification Works

A lender asks about a number of factors and may

795 Views, 0 Comments

Home Buyer Guide: What Floor Plan is Right for You?The floor plan you choose when you buy a home will have a big impact on the way you live your life. Whether you're walking upstairs and downstairs all day long, cooking breakfast in an open space next to your living room, or doing your laundry on the same level where your bedroom is located, the floor plan can affect all day-to-day activities. Knowing which options are available and what the pros and cons are of each can help.

Multi-Story Home

A multi-level home usually has at least two floors, and some have more. Multi-story homes are romantic and beautiful. Many people like having their bedrooms upstairs, where it's private and quiet, and their living room downstairs where it's louder and more public.

People who have mobility issues

3,321 Views, 0 Comments

Financial Considerations in the Mortgage Approval ProcessIt can be far too easy to get swept up into the idea of buying a home without knowing how to position oneself to get approved for a mortgage loan. There are a number of financial considerations applicants should be aware of before and during the mortgage application process. Some actions may inadvertently make it less likely for an applicant to be approved for a mortgage loan. Avoid these financial pitfalls when applying for a mortgage loan.

For informational purposes only. Always consult with a licensed mortgage professional before proceeding with any real estate transaction.

Don't Lower Your Credit Score

Some behaviors can serve to lower one's credit score. Do not apply for additional credit lines a short time before applying for a loan.

726 Views, 0 Comments

How to Handle Earnest Money in CaliforniaWhen buying a home, there are many things to consider. One of those things is called ernest money or intial depsits. Initial deposits are often called 'earnest money' in the real estate world because they're designed to show just how serious a potential buyer is in the property. So instead of just making an offer and waiting for it to be accepted, the buyer follows up the offer with actual cash. For those planning to purchase property in California, there are a few things to know about how earnest money works in different markets.

For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.

It's Not Required

Earnest money is not required according to the rules

681 Views, 0 Comments

Neighborhood Research When Purchasing a HomeBuying a home is one of the biggest investments that many people will ever make. Making the right decision can be difficult, especially for a first time home buyer. The neighborhood where a home is located is just as important as the home itself. Knowing what to look for and how to identify a good neighborhood makes the home buying process easier. Here's what you know.

For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.

Walk Around the Neighborhood

Before making an offer on a home, it's important for home buyers to spend time walking the sidewalks or driving around in the neighborhood where the home is located. Paying attention to sidewalks, flow of

704 Views, 0 Comments

Should You Refinance Your Home? A Closer LookThe term refinancing is often thrown around in casual conversation today, especially in the wake of the housing crisis. Some homeowners make it sound like it might be the smartest move they ever made, while others say that refinancing is not such a good idea. The truth is that it can be both. So it's understandable if not everyone understands its explicit meaning, or whether or not it's right for them. Find out more about what home refinancing entails, what it's used for, and how to decide on a long-term plan.

For informational purposes only. Always consult with a mortgage expert or financial advisor before proceeding with any real estate transaction.

What It Means

Refinancing happens when a homeowner gets rid of their own old loan (by

1,264 Views, 0 Comments