The condo market in Long Beach, and nationwide, may be in for a few rather large shockers which could rattle more than a few cages. We have already come across several HOA's in, or very near, serious financial jeopardy.
Many buyers who are searching for homes in Long Beach express interest in purchasing a "fixer upper" .
It is always interesting to hear what their idea of a "fixer upper" is. There are so many levels of fixer upper it is necessary to clarify what the buyer has in mind.
With so many Long Beach homes on the market at affordable prices one would think it should be really easy to find a home and get a great deal. So why are so many first time buyers having trouble finding a home that suits their needs at a price they can afford?
FHA loans are available to a maximum loan of $729,750 with a minimum 3 to 3.5% down payment until January 1, 2009 when they are currently scheduled to drop the maximum loan amount to $625,000, this could change.
Current FHA Lending Limits for LOS ANGELES COUNTY (LOS ANGELES-LONG BEACH-GLENDALE, CA METROPOLITAN AREAS):
Single Family Home or Condo : $729,750
Duplex : $934,200
Tri-plex : $1,129,250
Four-Plex : $1,403,400
7 Steps to Pre-Home Purchase Preparedness
1-Choose a Lender
2-Checking Credit Scores Prior to Starting the Purchase
3-Be Pre-approved Prior to Searching
4-Have A Solid Financial Plan
5-Insist on a Lock-In Letter
6-Demand a Loan Commitment
7-Waiting to Sell Your Home
If you are relocating to Long Beach California you will need lots of information. You will be curious to know about Long Beach communities , neighborhoods and resources . We have tried to include as many area resources as possible here to make your transition a smooth one.
Thanks for including us in such fine company, Laurie.
Laurie: this site looks better and better each time I visit! You’ve done a fantastic job putting together information and resources.
Mark
WOW ! So much great content!
Sorry to post a silly comment, but I’m new to blogging. What is the importance of a blogroll?
Regards,
Chantal
Orlando Real Estate
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