Choosing a Move-In Ready Home or a Fixer-Upper

shannonjones 203(k) loans , Buying a Home , Featured Articles Leave a Comment

Homebuyers often find themselves having to make the decision between buying a new or move-in ready house, or buying a home that may need some work. While new construction is a rarity in Long Beach or Lakewood, and move-in ready houses sell quickly and at a premium, learning to recognize what makes one or the other better for you can help make the buying process much smoother. Here’s some questions to ask yourself before and during house hunting: Do You Have Time to Commit To A Fixer-Upper? Above all things, time is a major necessity for any fixer-upper. While there …

845 Obispo Avenue

Financing a Fixer with a 203K Loan

shannonjones 203(k) loans , Featured Articles , Long Beach Real Estate , Real Estate , Rose Park Leave a Comment

For many the idea of buying a home that needs TLC is appealing, but the financial reality of coming up with a down payment and  money for work to the home can be daunting. However, with a 203K loan, you can actually finance the cost of the repairs and upgrades, provided that total loan amount is less than the projected value of the home once it’s been fixed up. Our listing at 845 Obispo Avenue in Long Beach is a perfect candidate for this kind of loan. An already historical property in the Rose Park neighborhood, this lovely home has lots of character …

Thinking of buying a fixer? Consider a 203(k) loan!

Shannon 203(k) loans , Buying a Home , Featured Articles , Foreclosures

If you’ve ever dreamed of buying a fixer and making it your own but lacked the money to do the actual fixing, you may wish to consider buying with a 203(k) rehabilitation loan. We come across homes for sale in Long Beach, Lakewood, and Signal Hill all the time that need lots of work — short sales, foreclosures, probates and even regular sales. Often, buyers pass on those fixer-upper homes because they wonder where the money would come from to fix them. Homes for sale that are “turnkey” or move-in ready fetch top dollar even in today’s market, while fixers …