Archive for the ‘Mortgage’ Category
I’m not going to lie to you: the prices of homes in California are flat-out expensive. You’ll find your occasional good bargain, but if you’re moving from any other part of the country (besides the New York City area) to most parts of California, the prices you’ll have quoted to you are probably going to take your breath away.
When I say real estate in California is costly, I’m not just talking about Hollywood or Bel Air or the nicest parts of San Diego and San Francisco. I’m talking about all over and on a general basis. The fact is, California is the most populous state in the United States (by far), with California’s 55 votes outranking #2 place state (Texas) by 17 votes and dwarfing New York State and Florida’s 29 electoral votes. California has a lot of people, while more people want to live on the West Coast all the time.
So the price of homes are costlier on average in the cities of California than just about anywhere you’re going to look, whether you’re looking in Long Beach or Anaheim, Oakland or Bakersfield. When you get into the heart of cities like Los Angeles or San Francisco, or near the beachfront properties in Los Angeles or San Diego, the prices are going to skyrocket. Keep that in mind when shopping for cheap homes to buy in California.
Cheapest Homes in Los Angeles
The cheapest home I found listed in Los Angeles is a 2 bedroom, 1 bathroom home with 572 square feet selling for $69,900 on East 117th Street. Another house about that size is a 576 square foot single-family home on Hooper Avenue in LA. This place has 1 bedroom and 1 bathroom and has an asking price of $89,900.
Most of the cheaper houses I’ve found in the City of Angels are nowhere near as inexpensive. For instance, I found a 3 bedroom, 2 bathroom residence on Weigand Avenue with 3 bedrooms, 2 bathrooms, and 1,174 square feet. This house is selling for $154,900. I found a HUD home selling for a hundred dollars more, ($155,000–another home had a $123,000 price tag, but it was exclusive for government agencies and non-profits). The 155-grand house has 3 bedrooms and 2 bathrooms and is found at 1125 East 114th Street.
Croesus Avenue has a 5 bedroom, 2 bathroom home selling for $109,000. Croesus Ave also has a $115,000 home selling with 2 bedrooms, 1 bathroom, and a rod iron fence around small yard. The Santa Rosalia Drive Apartments has a 2 bedroom, 1 bathroom home with $133,560 asking price. On 5th Avenue, you’ll find a small but pleasant-looking 2 bedroom, 1 bathroom home with a yard, layered walkway and palm trees in the background. This home sells for $169,000. Grape Street has a 2 bed, 1 bath, 940 square foot single family home selling for $118,800. If you’re looking for a home on Compton Avenue, you’ll find a house with 4 bedrooms and 2 bathrooms fitted into 1,486 square feet of living space. This home has an asking price of $100,000.
Another cheap home I found is a 2 bedroom, 1 bath place on East 106th Street. This foreclosed home is selling currently for $94,900. You can find a home with a rod iron fence around it on East 101st Street with 3 bedrooms, 2 bathrooms, and a price tag of $148,000.
Cheapest Homes in San Diego
The cheapest residences to buy in San Diego are condominiums. Most of the residential houses are in the hundreds of thousands of dollars, so the condo is a less expensive, trendy way to live. One of the cheapest places to buy I found in San Diego is a 1 bedroom, 1 bathroom condominium with 670 square feet at Hotel Circle’s S Unit C3. This San Diego condo’s asking price if $99,900. On Nile Street, you’ll find the Unit 3 condo is on sale for $124,900. This condo has 2 bedrooms, 1 bathroom, 782 square feet, and a one-car garage. On Beadnell Way, you’ll find a 2 bedroom, 1 bathroom condo selling for $139,900. Ask about Unit 1 at the front office.
Paseo Cardiel has a 2 bedroom, 1 bathroom unit selling for $149,000. You’ll also find a home listed online under a McClintock Unit address which says it’s selling for $551. A quick perusal of the listing shows that the square football on the place is 551 square feet, so unless this home owner has a quirk about selling his or her home by $1 per square foot, I would expect a more substantial price. Carmel Mountain Road has a 2 bedroom, 1 bathroom condo selling for $124,000. This condominium has 798 square feet in it. Among homes, a 1 bedroom, 1 bathroom residence on Scripps Westview Way is about as cheap as they come. This foreclosed place is selling for $135,000.
San Jose’s Least Expensive Homes
San Jose is the third-largest city in California, behind LA and San Diego. San Jose has more people than nearby San Francisco, even. Unlike many of the big cities in Southern California, you can find homes selling for 5-figures in the San Jose area. For instance, a 3 bed, 2 bath, 1,344 square foot residence on Ford Road (at unit 34) is selling for $89,900. On Nicholson Lane, you’ll find a 3 bed, 2 bath trailer home selling for the same price: $89,900. At Senter Road, you’ll find what appears to be a 3 bedroom, 2 bathroom condo selling for $149,000.
Inexpensive Residences in San Francisco
The price of housing in the Bay Area can be outrageous at times. The California real estate market has long been out-of-touch with most of the other regions of America. Even in the biggest economic downturn in decades, the price of real estate remains significantly higher than in most parts of America. As an example, Lobos Street in San Fran has a 2 bedroom, 1 bathroom house selling for $209,000.
20th Avenue Apartment E has a 1 bed, 1 bath unit selling for $232,000. If you asked anywhere near that in most parts of the country, they would laugh you out of the room. In comparison, the 4 bedroom, 1 bathroom house on Sagamore Street which is selling for $295,000 seems like a real bargain.
You’ll find a lot of properties listed on certain foreclosure listings online (upwards of 200), but most of these classifieds have a suspicious amount of detail (or lack of detail). When a small home on Franklin Street has a listed price of $985,000, you have to wonder what the price are on all the San Francisco house listings where they don’t want you to know the price.
Even on the HUD website, I wasn’t able to find information. Despite having hundreds of properties listed for California, not one appears to come up in a search of the HUD classifieds for San Fransisco. To find the cheapest homes in San Fransisco, you may have to approach things the old-fashioned way–through a realtor or realty website in the Bay Area.
Cheapest Homes in Sacramento
The same cannot be said for Sacramento. California’s state capital has a significant number of cheap property listings. HuD has a number of cost-effective housing options which are significantly lower than what you’ll find in most of California’s bigger cities, though the prices are still nowhere near as low as you’ll find in the Midwest.
HUD featured a $141,500 asking price for a 2 bedroom, 1 bathroom house at 520 Tenaya Avenue in Sacramento. At 1827 Jamestown Drive, HUD is selling a 3 bedroom, 2 bathroom home for $92,000. The price on this house just was lowered recently. Both the Jamestown Drive and Tenaya Ave homes are extended listings. A two bedroom, 1.5 bathroom house at 8857 La Riviera Drive is selling for $60,000 exactly. The price on this residence was recently lowered.
Frenso’s Cheapest Home
Fresno, the largest city in the San Fernando Valley in central California, has much cheaper housing than in Southern California around Los Angeles or San Diego, and certain cheaper than you’ll find in the San Francisco Bay Area. Fresno is the 5th largest city in California by population, so the job market should still be significant.
You can buy a house on East Franklin Avenue with 2 bedrooms, 1 bathroom, and 938 square feet for $42,400. This house has a yard and a chain link fence. North Ezie Avenue has a 3 bedroom, 2 bathroom home with 1,436 square feet selling for $79,900, while you can find a home on North Harrison Avenue with 3 bedrooms and 1 bathroom fitted into 1,080 square feet selling for $74,900.
Look on East Holland Avenue and you’ll find a home with 3 bedroom and 1 bathroom in 1,026 square feet selling for $64,900. Look on South Maple Avenue and you’ll find a 3 bed, 2 bath home with 1,434 sq feet and an asking price of $74,900. A two bedroom, one bathroom, 1,085 square feet house on East Iowa Avenue has a price tag of $49,000, while an East Floradora Avenue home with 3 bedrooms and 1 bathroom has an asking price of $54,500.
If you are planning to obtain a home mortgage plan to purchase a house, your objective will be to acquire the best mortgage interest rates obtainable in the marketplace. Paying down on a home loan is a long term investment, so persons try to check around for all the possible selections to compare between the best mortgage rates. Most persons have to pay for their home mortgage for 15 to 30 years and at times even longer before they claim home ownership. This may ultimately result in a mortgager paying way more than originally borrowed in interest. In this article we will talk about some steps you can take to make solid comparisons between mortgage deals that can potentially save a homeowner a lot of money over the lifetime of a home mortgage.
A prospective home owner should first know exactly what type of mortgage they are interested in so they can obtain quotations on that type of mortgage when they are ready to compare between loans. The average 15 year fixed rate mortgage normally has a smaller interest rate, when compared to a 30 year fixed rate mortgage, however, the monthly installments on the 15 year fixed rate will be larger. When you choose a mortgage package talk to the loaner and get a rate that is locked in for a set period of time before you start to look for a property. This is done to ensure that the deal is yours if you find a property so you know exactly what you are doing.
Go through all the websites that contain information about the various lenders on the market such as local banks and credit unions. You can visit lendingtree.com and fill out the necessary information and the loaners will call you with their best rates. Websites such as bankrate.com keep some of the most current listing of lenders. They provide a searchengine, you can utilize to find exactly what you are looking for so you can call each company to get more details. While doing this, try to stay away from VA lenders and HUD-approved lenders and get all the quotes within a small time period like a week because inquires can have an effect on your credit score.
Compare quotes between as many lenders as possible, acquire information from your banks, credit union as well as the federal Housing Administration to see who can offers you the best rate accordingly. In general a lot of home buyers prefer the FHA because it is usually easier for persons to meet the requirements for a loan through this establishment and they also offer some of the mortgage rates comparison. When you are searching through different mortgage rates, pay attention to additional fees like closing costs and private mortgage insurance that may be added to your mortgage plan or may be require to be paid upfront.
These additional charges can lead to you paying more than what you had estimated. Some companies may provide a lower rate but in the long run may ask that you pay more points, that end up costing you more than you taking out a loan with a little higher interest rate. Also pay attention to the total cost of the loan and not just the affordability of the monthly payments, this may have an impact on in your decision for taking out a home loan.ï»¿
If you are about to take out a home mortgage plan to purchase a house, your aim should be to get the best mortgage rates available in the marketplace. Paying down on a home loan is a huge obligation, so persons try to check around for all the possible selections to evaluate between the best mortgage rates. A majority of home owners have to pay for their home loan for 15 to 30 years and sometimes even longer before they claim home ownership. This can cause a homeowner paying way more than the initial capital in interest. In this article we will talk about some steps you can take to worthwhile decision between mortgage deals that can possibly save a homeowner thousands of dollars for the duration of the loan.
A prospective home owner should first have a clear understanding of what category of mortgage they are interested in so they can obtain quotations on that category of mortgage when it is time to make a comparison. The average 15 year fixed rate mortgage in most cases has a much lower interest rate, as opposed to a 30 year fixed rate mortgage, however, the monthly installments on the 15 year fixed rate will be larger. When you select a mortgage deal speak to the lender and get a rate that is locked in for a set period of time before you begin searching for a property. This is done to ensure that the deal is yours if you find a property so you know exactly what you are doing.
Connect with all the websites that have information on the various lenders in the industry such as local banks and credit unions. You can go on lendingtree.com and fill out the necessary information and the loaners will call you with their best rates. Websites such as bankrate.com keep some of the latest listing of lenders. They provide a searchengine, you can utilize to find exactly what you are looking for so you can contact each company to get more details. While doing this, try to stay away from VA lenders and HUD-approved lenders and get all the quotes in a short time span like a week because inquires can have an impact on your credit score.
Compare quotes between as many lenders as possible, acquire information from your banks, credit union as well as the FHA to see who can offers you the best rate accordingly. In general a lot of home buyers prefer the FHA because it is normally easier for persons to qualify for a loan through this establishment and they also provide some of the best mortgage rates. When you are looking through different mortgage rates, pay attention to additional charges like closing costs and private mortgage insurance that may be included into your mortgage plan or may be require to be paid upfront. These extra fees can lead to you paying more than what you had calculated. Some companies may offer a lower rate but in the long run may also require you to pay more points, that end up costing you more than you taking out a mortgage that has a little higher interest rate. Also observe the total cost of the loan and not just the affordability of the monthly payments, this may have an impact on in your decision for taking out a mortgage.
Most persons searching for a new house want to get the best possible mortgage interest. Obtaining a home loan is a big commitment, so persons try to receive the cheapest rate on your overall mortgage payment and ease the pressure of having to find so much money on a monthly basis. There are various entities that provide low rates on mortgage interest. There are various sources you can access to obtain the best possible mortgage interest.
The federal Housing Administration offers some of the lowest interest rates on a home mortgage loan. The first step entails finding out if you are qualified for a FHA home loan. Persons choose this mortgage company because it is generally easier for persons to qualify for a loan through this company. A low interest rate can greatly lessen the monthly deposits for the duration of the mortgage. The loan also provides one of the lowest downpayment requiring persons to pay 3% downpayment.
The internet provides some of the best mortgage interest rates. There are multiple mortgage rate search tools such as bankrate.com and lendingtree.com. bankrate.com maintains the most up to date lenders and rates based on your search criteria. After getting a record of all the mortgagers you can then call each to get more details. Lendingtree.com ask that you to fill out information once and lenders will call you with their best rates. Signing up with a Credit Union can provide a good option for getting low interest mortgages. Credit unions more often offer competitive rates when compared to the open market.
New home buyers should try and maintain a good credit score to recive the best mortgage interest rate. Most approvals on loans are offered done based on how high your credit score is, so you should attempt to enhance your credit score. Individuals with a lower credit score, minimize their chances of getting a lower mortgage interest rate.
Always check around for all the possible options available to you, the only way to get the best mortgage interest is to research all your local banks and investment organizations you increase your opportunity of getting the best available rates. Potential home owners can also buy additional points on a loan in order to secure a lower mortgage interest rate. Once you have found a loaner, make an inquiry about getting extra points to reduce the interest rate. These usually attract additional fees, so make sure you are properly informed about all the clauses before to making a final decision. If done correctly, this could ultimately benefit you in the long run.
You can contact your mortgage lender directly so you can talk to them face to face, so you can get a feel for how youâ€™ll be treated. Taking out a mortgage plan for a smaller time frame, like say 15 years, this will more likely guarantee you a lower rate of interest from your lender. The only disadvantage is that, in this instance your monthly payments will be made bigger even though it will be paid off in a shorter of time.