Real Estate

10/09/2021

Best Time to Buy.

02/21/2021

Reaching its highest point since mid-November, the 30-year fixed-rate mortgage averaged 2.81 percent this week. Economic spending has improved, due to the most recent stimulus, but supply chain shortages are causing downstream inflation, leading to higher mortgage rates. While there are multiple tem...

02/04/2021

Desktop Underwriting (DU)? Please watch. It's essentially a report that uses all the income information (W2s, Check Stubs, Bank Statements, Retirement Accounts, etc.) to determine if and how much you qualify for a loan.

For all the offers I made for my father's first home and second home for myself, the seller and their agent will sometimes request you provide a DU with your offer. The sellers and the agents that typically ask for the document had a bad experience with falling out of escrow with a buyer due to financing. They feel if they have the DU with all your financial information it reassures them the buyer will not back out due to potential financing issues.

I personally do not like submitting this with the offer. There is too much information on the report that I feel the seller and their agent should not have access to.

Melinda Payan offers you more than twenty years of business and financial expertise in order to successfully and expeditiously negotiate your financing needs...

02/04/2021

Earnest Money Deposit (EMD)? Please watch the video. In the South Bay area, my real estate broker suggest a $10,000 EMD to make your offer attractive. However, there is no required EMD amount.

What is Earnest Money Deposit – When Buying a Home?The earnest money deposit is an important part of the home buying process. It is different from a down pay...

02/02/2021

If you plan to purchase a home, understanding Supplemental Secured Property Tax is well worth your time. The escrow close date will impact whether you have to pay the tax and/or how much you will have to pay.

This will not only impact you when you purchase a home, but also a change in title or ownership. An example is marriage. If your spouse owns a home prior to your marriage and decides to add you to the title, your home will be subject to a property value reassessment. An increase in value will result in a supplemental secured property tax depending on when the change in title occurred.

Please click on any number to view the description of the bill component. You may also scroll down to the bottom of the page to view a complete list of field descriptions.

01/31/2021

If you're interested in learning about real estate, I suggest following BiggerPockets. It focuses on the investment aspect of real estate, but offers a wide range of knowledge for investors, agents, landlords, and the average buyer.

https://www.facebook.com/BiggerPockets

Our mission is to help people find personal freedom and financial flexibility through real estate

01/31/2021

As the market reacts to a new administration in Washington and COVID-19 driven economic malaise, mortgage rates continued to decrease this week, just slightly. Even as house prices increase at the fastest rate we've seen in years, competition to buy is strong given the low inventory that exists acro...

01/31/2021

My father used Veterans United to finance the purchase of his first home. It was a pleasure working with Veterans United.

Complete a VA Home Loan Request form and have our VA Loan Specialists will guide you through the mortgage process.

01/31/2021

Please visit The Real Estate Group website to find about the brokerage I work with.

The Real Estate Group | Residential Property Realtors© in Southern California with over 300 Professional Agents | Torrance, CA

01/31/2021

A good article regarding the 2021 Tax Credit for First-Time Home Buyers that is expected under the Biden-Harris Administration.

President Biden is proposing an advanceable tax credit for first-time home buyers in the U.S. that could be applied toward the down payment.