Demystify the home-buying process with this handy guide

It’s almost time for new year’s resolutions. If buying a home is on your to-do list for 2016, or even in your five-year plan,¬†bookmark this strategy guide!

This handy guide walks prospective buyers (or just the curious) through the four-step process so that when the time comes, there are no surprises.  Click the image for a step-by-step breakdown:preparation; making an offer; escrow, inspections and appraisal; and closing.

5 reasons winter is a great time to buy a home

Buying a house or a condo for the first time is a big, scary thing. But it doesn’t have to be.

If you’re considering buying, or even just curious about how to get started, I’m here to help. I will answer all of your questions and walk you through exactly what to expect so that when you’re ready to buy, the process goes as smoothly as possible.

If you have the resources, right now is an excellent time to buy.

Here’s why:

Significant tax savings. This isn’t seasonal but it’s important: in many situations, mortgage interest is tax-deductible. On a 30-year 4% mortgage, an average of 41% of your monthly payment is interest. In this scenario, buying a home can allow you to write off 41% of your monthly housing payments: something that renters cannot do. This handy calculator can help you determine if, and how much, you might save by buying. Consult your CPA for all the nitty-gritty.

And now to the seasonal reasons:

More inventory. Summer’s buying frenzy has cooled; properties are now sitting on the market longer as buyers take their time.

Price reductions. Frustrated sellers are reducing their asking prices in the face of a slowing market and approaching holidays.

Less competition. Many buyers are exiting the market for the winter, which means less competition for the buyers who remain.

Low interest rates. Rates are expected to average 4.5% in 2016, but for now, it’s still possible to lock in a 30-year mortgage under 4%. (For reference, a 30-year $500k loan at a fixed 4% costs $146 less per month than it would at 4.5%).

If you have any questions, give me a call. If you want to chat about price trends in Silver Lake vs. Highland Park vs. Beverly Grove, give me a call. If you need a lender referral, or a contractor referral, give me a call. If you want to have coffee, give me a call. If you want to chat about our mutual love of puppies, $8 bottles of wine and Game of Thrones, pick up that phone! Whatever it is, please feel free to reach out. I’m here to help.

History shows that when spring rolls around, the market will likely get busier again. Now could be the ideal time for you to buy your dream home without all the competition.