Things to Remember When Buying or Selling a Los Angeles Home

Los Angeles is a huge city! If the home buyer is new to the area and is planning a move to the area, working with a real estate agent who specializes in the neighborhoods, that might be of interest such as Los Feliz, Hollywood Hills, Hollywood, Glendale, Burbank, Sunland can be of critical importance. Experienced Los Angeles real estate agent will help buyer to narrow down the neighborhoods that will make the most sense for buyers commute to work. If house buyer has or plans to have children, then they want a LA Realtor who can direct the buyers to the best area schools.

Local property expert can be the guide in finding the right home for sale to choose from that will fit home buyers budget and style!

Real Estate agents need to explain home buyers that the LA real estate market has changed.

1. Now every home buyer has to have a verifiable income and down payment, and the only loan types available are 30-year and 15-year fixed-rate mortgages. Real estate buyer won't be able to leverage up and LA housing prices will remain steady.

2. Lenders are extremely careful at this time. They don't approve a mortgage application unless Fico score is extremely good (at least 760 to get the best rates). Home buyer needs to have plenty of cash in the bank (for the down payment, closing costs and cash reserve). Home buyer needs to get pre approved for a mortgage before making an offer for the purchase of real property.

3. Real property buyer needs to look for a property in the market, where the seller has plenty of equity. The home seller will have to price the home to compete with foreclosures, and house buyer will have a real property that is in much better shape and will require a lot less maintenance, renovation and upkeep.

4. Flipping is over. Buyers of real estate in Los Angeles need to have a 7- to 10-year property holding plan.

It is also important for Los Angeles home sellers, to work with a Los Angeles agent who is local property expert. When property is listed and sold for a client, expert needs to help the home seller to understand the local real property market and the minds of local agents and home buyers. And strive to sell clients home for the most money possible in the least amount of time. When home sellers invite real estate agent to list their property, they hire them to market it to real estate agents, their buyers and the broad real estate market both on line and in person.

When property is listed and sold, the process should be smooth, effective and pleasant.

Aram Arakelyan

http://www.housevaluecheck.com

Realty Needs Network

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