First Time Buyers and Foreclosures

Now is an amazing time to buy for first time buyers. Rates are incredibly low, and prices are dropping to levels we saw three to four years ago. Best of all the increases in the FHA loan amounts in the Los Angeles area to
$687,500 SFR
$880,100 Duplex
$1,063,850 Triplex
$1,322,150 Fourplex
allow many more homes to qualify for FHA approved loans. (check here for other counties FHA Loan limits)

What does this mean to you? Buying a home is more affordable than it has been in years and now may be your best opportunity to buy ever. The most important thing is to be prepared because when the deals come they sell fast. Here a few things we can do to make sure you are ready when your dream foreclosure comes up.

1. Find out how much you can afford by being pre-approved. THIS IS THE MOST IMPORTANT THING. Pre-quals are no longer acceptable. To compete for these homes you need to show the bank you are a qualified buyer and that you have been approved for a loan with all your paperwork submitted.
2. Know what you are looking for. The great thing about this moment is THERE WILL BE MANY HOMES AVAILABLE. You need to decide what are your wants and needs in a home. We can help you with this by sitting down and prioritizing your needs so when that perfect home comes up you are ready.
3. Have an inspector lined up to look at the property quickly. Most REO's are sold as is and often do not accept offers with inspection contingencies. This means that you need to have an inspector out immediately.

Now is an amazing time to buy so sign up as a Premier Member at no cost and get started now!