I know Real Estate market is coming to a stop, and rates are?

Question

rising. I need to buy a house, I live in Los Angeles. I need to find a place that will allow me to check appraisals in different areas.
Who knows a company that will allow me to check various properties for free on the internet?

Answer 1

Real estate is not coming to a stop- where on earth did you hear that? The rapid rise in sales and price is slowing in some area, but not in mine. CA real estate tends to be like a roller coaster anyway. LA is very expensive to start with. I strongly caution you against taking websites (in gereral) like www.zillow.com as fact to get home values. I ran mine thru and was told it was worth $450,000.00. Factually it is not. They ahve dosclaimers at teh page bottom in fine print saying that this may not apply to your property. They fail to account for a lot of things like differences in comparable properties, number of stories, garage size, etc. and can not compare appropriate neighborhoods. I have looked at a couple and am concerned that they would put this info out to the public who has no way to properly interpret it.

The smart thing to do for a mortgage is go to a reputible bank like Citi Bank or Wells Fargo, or on-line to Washington Mutual or Countrywide Mortgage. They are legally required to give you a "good faith" estimate of the costs to buy the home, including the loan fees, attorney fees etc. That will in turn allow you to look at other lenders for comparison sake and get a better deal on the loan costs which typically you'll have to pay.

A licensed real estate broker who is a member of the National Association of Realtors is a good person to contact for assistance in buying a home. Seek one who has the highest level license available in CA, has designations like CRS and GRI, and are the top in their office. You may call the office manager for a referral or I'll be happy to connect you with a great broker in your area.

A Realtor is your safest bet as they know the market, will advise you as to a fair, likely to buy it offer to make and can suggest to you several reputible lenders to consider. They may also know of special loan programs for 1st time home buyers (sounds like you may be one). They are paid via the gross commission paid by the seller and you in the purchase price. They also have extensive training in negotiating on your behalf. A top broker on your behalf is well worth your time.

You may check with www.realtor.com for the largest database of homes for sale in the country, which includes CA and Los Angeles to search on your own. Remember that agents listed with the property are working for the seller. You should have a buyers broker to look after your interests. Many local brokers keep their listings there and updated regularily.

Good Luck!

Answer 2

You need to double check your assumptions or you are likely to get burned. And badly in the LA market.

Answer 3

Take a look at this