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How much do I need for a down payment?

The national average for down payments is 11%. But that figure includes first time and repeat buyers. Let’s take a closer look.While the broad down payment average is 11%, first time homebuyers usually only put down 3 to 5% on a home. That’s because several first-time home buyer programs don’t...

How much do I have to pay an agent to help me buy a house?

Home shoppers pay little or no fees to an agent to buy a home.Here’s why:For most home sales, there are two real estate agents involved in the deal: one that represents the seller and another who represents the buyer.Listing brokers represent sellers and charge a fee to represent them and...

What is a stratified market?

A stratified market happens where supply and demand characteristics differ by price point, in the same area (typically by city). For example, home sales for properties above $1.5M may be brisk (seller’s market) while homes under $750k may be sluggish (buyer’s market). This scenario comes along every so often in...

What is a seller’s market?

In sellers’ markets, increasing demand for homes drives up prices. Here are some of the drivers of demand: Economic factors – the local labor market heats up, bringing an inflow of new residents and pushing up home prices before more inventory can be built.Interest rates trending downward – improves home...

How long does it take to buy a home?

From start (searching online) to finish (closing escrow), buying a home takes about 10 to 12 weeks. Once a home is selected an the offer is accepted, the average time to complete the escrow period on a home is 30 to 45 days (under normal market conditions). Though, well-prepared home...

What the first step of the home buying process?

Getting pre-approved for a mortgage is the first step of the home buying process. Getting a pre-approval letter from a lender get the ball rolling in the right direction.Here’s why:First, you need to know how much you can borrow. Knowing how much home you can afford narrows down online home...

Water-Conserving Plumbing Fixtures

Introduction California law requires property owners (for properties built before 1994) to install water-conserving plumbing fixtures by 2017 for single-family properties and by 2019 for other properties. Additionally, if any property (built before 1994) is altered or improved after 2014, then water-conserving plumbing fixtures must be installed as a condition of final...

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