A dramatic shortage of homes for sale in California has created an especially tough market for first-time buyers, with nearly 6 in 10 homes getting multiple offers, a California Association of Realtors survey shows. Fifty-seven percent of homes for sale got multiple offers in 2012, the highest percentage in at least the past dozen years, …
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Sellers don’t always play by rules when moving out Purchase contracts often include a provision for the buyers to walk through the property with their real estate agent about five days or so before closing. This is not a contingency of the contract. It provides the buyers an opportunity to confirm that the property is …
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The Federal Housing Administration (FHA) plans to impose significant restrictions on the amount of money that sellers can contribute at closing in the near future. The FHA also will be raising its mortgage insurance premiums during the coming weeks, increasing charges for new purchases across the board. Making sense of the story: One reason for …
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Real estate tips for the first-time homebuyer, buying their first home While an exciting experience, buying your first home can also be a scary and daunting event. Here’s just a few things to consider when house hunting: Your budget The home’s safety Will the home fit your family and their needs? The neighborhood’s security, parking …