Buying a house is a huge and important decision it is among the toughest ones that we have to make in our lifetime. While most people do very well in the quest for buying the best house, a little assistance is always welcome. In order to find a perfect home for yourself and family, you might want to start by finding the best area, place, and location. And, the neighborhood of Lakewood in California is one great place to consider.
How To Find Your Dream Home in Lakewood CA?
If you are thinking of moving to California, then the first thing you need to do is to find out all about California homes for sale. The perfect way to do this is to scour to the classifieds of your local newspaper for homes for sale adverts or going through the local directory to find phone numbers of and other information about California real estate agents.
It is easy to get an overview of California Real Estate Listings by searching online. A simple search with the keyword “Lakewood CA” will produce multiple results giving you a list of new homes, resale homes; foreclosed homes as well as a number of townhouses. You can select a specific category from the options given and begin the search process once over once again with additional keywords.
There are lots of options in California Property Listings, which can prove to be a bit taxing for a prospective buyer. Those interested in purchasing a home in the city can browse through multiple types of homes for sale California property listings. As a whole, the real estate market is thriving, yet the general price of properties of this place is surprisingly affordable.
California communities are a growing & thriving community. People concerned with budget or with financial constraints can find a listing of California homes for sale quite interesting from the monetary aspect as well. With all the necessary amenities as well as ample recreational facilities the community life provides for a friendly and relaxed atmosphere for people desiring to relocate to the area.
What To Look For In A California Neighborhood?
Various homes for sale in Lakewood CA are mostly traditional, multi-storied and single family homes on large plots of land; some houses of this community are located in new subdivisions. Several condos and townhouses are enlisted in the real estate markets a well while a few of these premium properties are located throughout the city.
It is therefore possible to close a deal in your favor provided you have the assistance of a professional real estate agent. Your realtor is sure to help you out with the complexities of the legal wrangles and paperwork that you are bound to face while purchasing property in the city.
The bottom line is that though there may be many homes for sale in Lakewood CA, only very few would be what you really want and getting such a place is a challenge that you ought to take on with no fear. So, keep doing your research before finalizing a buying decision!
Whats The News About Houses For Sale In California?
REO homes for sale are probably a term that not many people are familiar with but are homes that are real estate owned homes. This type of home is often associated with bank foreclosures. They are often offered for sale at a rate that is highly competitive. They are often offered to potential buyers in hopes of recouping most of the investment that the bank made on the property. These homes for sale usually involve a property where there is a default on an existing outstanding mortgage. The potential buyer may be able to get the property well below the current market price but it depends on the circumstances.
This type of home are sometimes sold at auction and when this is the case, the bank currently holding the title is mainly interested in just recouping any remaining interest made in the original mortgage. At the auction, the starting bid also includes any costs that are associated with the foreclosure. After announcing the time and date of the auction to the general public, any investor who meets the credit qualification can place a bid on the REO homes for sale.
REO homes for sale are great purchase for first time homebuyers for a great price. The savings can be significant if you have the liquid capital or excellent credit to complete the purchase with no delays. These homes for sale are also great for people to expand their rental businesses along with offering homes in neighborhoods that are more desirable.
These homes do not have to be sold by the bank. For qualified potential buyers many financial institutions keep a listing of these foreclosed REO homes and will off them to you for direct sale. For anyone wanting to purchase REO homes for sale it is a good idea to talk with a bank about any current properties currently held in foreclosure. Some businesses also monitor foreclosure proceedings and will provide this information to land speculators who are interested in their real estate holding increasing. These services are provided in exchange for a percentage of the final purchase price or for a fixed fee.
One thing to note about REO homes for sale is that many of them are fixer uppers in need of repair that can be easy to intensive. If you purchase a home that is need of repair and do the necessary repairs and they add value to your home, you should be able to resell for a nice profit. Another bonus with REO homes for sale is that any financial claims or property liens against the home have been paid by the bank. You should receive a clear title and not inherit any old liabilities but make sure before you close on the deal.
Where Do I Find New Houses For Sale In CA?
Everybody has heard that water cooler story about Joe in Marketing who bought a foreclosure for $100,000 under market and is now totally rich, and clearly a genius. WRONG!! As in most water cooler stories, half the info is missing.....like the fact that it's in Riverside, its stripped bare like car up on blocks, and that $100,000 is just about enough to pay for the repair of the property and the selling costs to break him even if he wanted to sell his little jewel. Foreclosures in LA stink and here's why:
- Demand for Los Angeles property is still extremely high. If you don't believe me there are still 2 bedroom 1 bath homes selling for $800,000 and that's "normal" here in LA. The last I checked, that bought you a lakeside mansion on 20 acres in 45 other states.
- This high demand allows the banks who are selling their foreclosed properties to price their homes more competitively and are not forced to under-price their listings much as in other cities. Go to Vegas, banks have to under-priced their homes by up to 10% just to move them because there is such little demand.
So now you have bought a dump at a regular price, been strung up in a 90 day escrow, paid about $2,000-$10,000 more in fees they said they would not pay, you have no recourse if the thing has major problems, and can now begin your repairs which will undoubtedly be about three times as much as your agent suggested. Have fun talking about that deal at the watercooler!
Foreclosures make a lot of sense for a lot of people, but Los Angeles homebuyers are not particularly one of them. Yes, a few have hit the lotto on a foreclosure, but that's about exactly the odds for the average homebuyer here in the land of flashy images and ultimate excess.
There is a lot easier way for Los Angeles homebuyers to get a really solid deal, in a really solid house that meets all of their needs, requirements and budget, it's called doing it the old fashioned way. There are no shortcuts for hard work, due diligence, patience, and perseverance.