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Home Buying in Paramount : Real Estate Advice

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  • Home Buying6
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Activity 6
Thu Jul 16, 2015
Lbcc_rodriguez asked:
Well long story short i saw a condo back in the market for 208,000 i made an offer for 210,000 me paying the closing cost this condo is being sold as is and needs alot of repairs and to…
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Tue Feb 26, 2013
Jacob Davila answered:
Hi there,
Comparing to Rural PA, Los angeles area is a bit more expensive. It'll be difficult to find that size of a lot for that price. Check out and enter your specific criteria. that will give you an idea to start with.
hope this helps
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Wed Oct 31, 2012
Amy asked:
This question was asked from this property:
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Fri Oct 5, 2012
Bill Eckler answered:

The best place to begin the process is by arranging for financing and getting pre-approved for a loan. With this done, you will have a clear understanding of your price limits.

We recommend that before meeting with loan specialists, that you examine your monthly budget accounting for hoe your money is being spent.

Armed with this information and the information you recieve from the loan agent, you will be able to see your options more clearly.

Good luck
The Eckler Team
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Thu Sep 27, 2012
Shel-lee Davis answered:

Sorry to hear about your challenges in finding a real estate agent who will help you find your new home. Part of the problem may be limited inventory in Paramount in your price range.

Specializing with 1st time homebuyers, I work with many buyers in the highly competitive price range of $125,000 to $275,000. This takes special attention, strong communication and the use of technology to expedite making offers (sometimes it takes multiple offers to land a home). These are the items that your real estate professional should be bringing to the table. Also, finding a professional that "thinks outside the box" could benefit you in your search.

First, your professional should help you understand the competition in your market so you have reasonable expectations. Second, with FHA financing, you might want to focus more on Single Family Homes, as many condo complexes are not FHA approved. And possibly expanding into adjacent towns and looking for homes that meet your other criteria could help you find a home. For example, in Paramount, there are 2 single family homes in your price range. If you expand to Lawndale or Long Beach, you increase the number of possible homes to well over 30 homes.

These are just a few ways to make your home buying dreams a reality. If you would like to explore other ideas and methods used to achieve home ownership, please contact me through my profile or give me a call. Your home is out there waiting for you to find it. Dare to Dream.

Shel-lee Davis
Real Estate Consultant
RE/MAX Palos Verdes Realty
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Sat Sep 20, 2008
Robert Chomentowski answered:

A 2/1 buy down is a loan (generally a 30 year fixed) where an extra fee is paid to "buy" the rate down for the first 2 years of the mortgage. For example, if the going market rate is 6%, with a 2/1 buy down you get 4% year 1 and 5% year 2 and 6% for the remaining 28 years of the loan. It can be good for borrowers such as Doctors right out of school, who need to ease into a larger payment and know they will be getting regular raises. But you definately need to make sure from day 1 you can handle the 6% rate in year 3 to 28. This is NOT an ARM, not negative amortization and not interest-only.

2/1 buy downs are only worth while if you are getting the SELLER to pay for the buy down. Generally a 2/1 buy down will cost 2 points. The broker origination fee would have to be on top of those 2 points for the buy down. If your seller is willing to pay for it all, why not? Or better yet you can buy the rate down for the life of the loan.
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