4 Reasons to Buy a Home during the Holidays!

When is the best time to buy a house? The holidays offer a great opportunity for buyers to buy a home. In this short video I review 4 reasons why it's a good time to buy a home during the holidays.

1-Less Competition - Less Buyers, Less bidding wars which ultimately means you can get properties for lower prices.

2-Old Inventory - Stale listings that have been sitting on the market. Look at homes that have been sitting on the market for at least 60 days.

3-Tax Reasons- Sellers may need to sell by the end of the year to post a gain or loss for this year.

4-Holidays - This time of year can motivate a seller to take a low offer, as a buyer you can leverage this in your favor.

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The CARES ACT and Where to Apply

As we're all dealing with the effects of COVID-19 on our lives, I want to review the main aspects of the Cares Act and where to apply.  As I'm sure you have heard, the government has approved the $2.2 trillion Coronavirus Aid, Relief and Economic Security (CARES) Act which will help millions of people in this critical time. Perhaps even you.

This sweeping legislation is unprecedented in the history of our nation and provides significant economic assistance to address the impact of COVID-19. The CARES Act is over 800 pages long, but here are some of the main economic provisions most relevant for you.

Stimulus

• Individuals who had up to $75,000 in adjusted gross income (AGI) will recieve $1,200

• Couples who had AGI up to $150,000 will recieve $2,400

• Parents w/ children under the age of 17 receive $500 per qualified child

• Individuals above thresholds will have payments reduced by $50 for every $1000 in income

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Unemployment Insurance

States will still continue to pay unemployment to people who qualify. This bill adds $600 per week from the federal government on top of whatever base amount a worker receives from the state. That boosted payment will last for four months. 

Pandemic Unemployment Assistance (PUA)

Typically, self-employed people, freelancers and contractors can't apply for unemployment. This bill creates a new, temporary Pandemic Unemployment Assistance program that provides unemployment coverage through the end of the year to freelancers and independent contractors and also provides an additional $600 per week for 4 months in addition to regular state benefits.

Please check to make sure PUA funds have been linked to EDD site before applying or your application may be delayed.

Check to see if PUA funds are available: HERE

Can self employed individuals apply: Yes

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SBA Loans

Paycheck Protection Program (PPP)

The Small Business Administration has rolled out the Paycheck Protection Program applications and guidelines. This program is a $350 billion program to provide loans of up to $10 million per business. Certain portions of that loan will be forgiven used to maintain payroll, keep workers on the books, or pay for rent, mortgage and existing debt could be forgiven, provided workers stay employed through the end of June.

Meant for small businesses up to 500 employees, independent contractors and self employed individuals. Applications for small businesses started on April 3rd and April 10th for self employed/independent contractors.

Where you can Apply: You can apply through an SBA Lender or find one HERE.

What can you use the Loan For: Payroll costs, rent, mortgage interest, utilities over an eight week period. For sole self employed/independent contractors that means wages, commissions, income or earnings from self employment.

Do you have to pay the loan back: Maybe, maybe not.. If you use the money on payroll costs you should be okay. More info here.

How much can you borrow and what are the rates: Eligible companies can borrow up to $10 million which is calculated based on payroll records at a fixed interest rate of 1% for a two-year term.

Can self employed individuals apply: Yes

What if I don’t have a business checking account: Try applying through Kabbage HERE

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Economic Injury Disaster Loan (EIDL)

The bill provides $10 billion for grants of up to $10,000 to provide emergency funds for small businesses and self employed individuals who qualify for the Economic Injury Disaster Loan to cover immediate operating costs.

Where you can Apply: You can apply through the SBA site HERE

Do you have to pay the loan back: Yes, but up to $10,000 may be forgivable.

How much can you borrow and what are the rates: Eligible applicants can borrow up to $2 million with rates up to 3.75%

Can self employed individuals apply: Yes

Is Van Nuys a good investment?

I always have first time home buyers ask me what neighborhood to buy in LA. Where the next hot neighborhood will be. I’d like to highlight Van Nuys as a good option in the Valley. It’s not what everyone is talking about right now but I see this area appreciating over the next 5 to 10 years. Did you know that the city is putting in a light rail through Van Nuys? The Metropolitan Transportation Authority voted unanimously to bring a light-rail line to this part of the Valley. The $1.3-billion rail line will run along Van Nuys Boulevard. Read more on that HERE !

What do I look for in an up and coming area?

When looking for an up and coming area there are so many factors in determining this. I first look for median sales prices that are currently at or below the median priced home for LA County and look for upward trends in sales prices. I look for neighborhoods that are surrounded or close to more expensive neighborhoods and analyze geographic sales trends. This gives me an idea of which area is appreciating. I also have to analyze the number of run down homes in the area to make sure there is room for improvement. Van Nuys has all of these factors in place and given the fact that affordability is truly being tested in LA, I see Van Nuys as a great investment!

Current stats show Median single family homes in Van Nuys to be $609k which is down 1.8% from last year.

More About Van Nuys

Approaching the century mark, Van Nuys is rich in history and home to a vibrant international scene filled with ethnic eateries, shops. First developed in 1911, it traces the evolution of early residential architecture in the growing San Fernando Valley, from early Craftsman homes to post-WWII ranch houses. Van Nuys is home to the vast Woodley Avenue Park, which contains the Sepulveda Wildlife Area, one of the Valley’s best-kept secrets.

Mid-Century Homes in Los Angeles

Check out this collection of Mid-Century homes

What to offer on a home?

So you found a house and you want to make an offer on. Now what? In this short video I review the first step in determining what to offer. It all comes down to analyzing comps. When looking at sales comps a real estate agent can educate a buyer on true market value. Don’t try running comps online as a consumer. Real estate agents have their hands on so much more data and a good agent knows how to dissect and analyze it properly.

8356 W 4th Street - House Tour

Not all investor/developers build the same way. Some use super cheap materials as they want to profit the most from their sale. This wasn’t the case with this home. You can tell they used expensive materials and really put a lot of thought and consideration into the design of this home. Did I mention there is a massive basement?! More Info HERE

House Stats:

• 8356 W 4th St. LA, CA 90048

  • 4,950,000

  • 4 bed / 6 bath

  • 6300 sq feet

What is a Buyer's Agent

What is a buyer's agent and what makes a good buyer's agent? Not all agents are created equal and many agents have completely different work ethics. There's a lot that goes into the negotiation of a deal and you can waste a lot of time writing tons of offers if you're not getting an agent that truly guides you through the process. I help you pick the right lender, streamline the search, educate you on market trends, analyze sold comps to determine offer price, draft and negotiate the offer, refer the you home inspectors, review all disclosures, negotiate repair requests and get you the keys at closing!

PROPERTY SEARCH

I won't let you buy something I don't truly believe in. I pride myself in knowing all the different neighborhoods of LA. I streamline the process and only send you the best options on and off the market.

STATISTICS AND ANALYTICS

I break it down with the numbers. I have access to the best technology and mathematical minds in the business. I provide you with the analytics, statistics and comps that will provide a transparent transaction.

NEGOTIATION

In a highly competitive market there are ways to negotiate against multiple offers and beat all cash offers.  I know all the tricks to get you the property and I'll make sure you're not overpaying.

INSPECTIONS

I look at every aspect of the property.  Coming from a legacy of builders in my family, I know good construction and craftsmanship.  I can recommend the best inspectors and contractors in town.

ESCROW

The Escrow process can be tricky to navigate and stressful.  I will walk you through the entire process and communicate each and every step.  From inspecting the property to closing the deal I have your back.

Meet Jeremiah

DAD, HUSBAND, REAL-ESTATE ADVISER, SINGER-SONGWRITER, GUITARIST, WOODWORKER, SURFER…

Here’s a little bit about me outside of Real Estate. I currently live in Burbank with my lovely wife Renee, 2 year old daughter Coco and Layla our sweet little pup! My girls keep me busy especially that little Coco! In my freetime I’m all about spending time with the family, playing music or being in the great outdoors. I’ve been playing guitar and producing music for over 25 years. You can check out some of my music HERE! If I’m not with my family or making music you can find me catching small waves or hiking medium sized mountains! I’m all about getting out into nature whenever I can!

Off Market Properties

Interested in seeing off market homes before they hit the market? This can give you a head start to make an offer on a property before other buyers even see it.  Contact me if you'd like a custom off market search set up for you.