California has some of the most beautiful real estate in the United States. The exclusive neighborhoods house some of the most famous people in the world. This help to make it one of the most expensive places to live, but also one of the most enjoyable.
If you want to buy a home in California, you can find homes that are well above the million dollar price tag and you can also find some at much more reasonable prices.
Finding homes for sale in California can be easy, if you know where to look.
The cool Northern hills of San Francisco, the bright lights of Hollywood and the Southern charm of San Diego keep the homes selling at higher prices than homes in other parts of the country.
The real estate market in California has been steadily rising since the 1970s when the average price for a home was only $24,00. In 2007, the median price for a single family home was more than $560,000, due to an economic crisis, the projected price for a home in 2010 is 280,000.
The exploding population has sent the prices of all of the real estate in the State into price ranges that was once only imagined. But, you can sill find some bargains if you look in the right places.
When you look at the advertisements, you will see the million dollar ocean front homes for sale but, you can also find yourself a cute little one or two bedroom bungalow that could be perfect for you.
Check Foreclosure Lists
When you start your search for a home in California, you have to narrow your field so the you can have a better chance of finding the perfect home, in your price range. The first place to look for homes at discounted prices are the foreclosed homes in California listed in the local newspapers and on various websites.
Foreclosed homes listed in the real estate section are offered at prices well below the fair market value of the property. The best place to find the available foreclosure lists are on the HUD website. They have a list of all of the foreclosed homes in all of the all over the United States.
There is also information that will show you how to get an FHA loan and how to get help with your down payment.
Since properties all over California are so competitive right now, you may want to look for homes that are being auctioned to the public or homes that you can get with down payment assistance.
The median price for a home in California has dropped by more than 50% in the last three years due (in part) to the historic rise in foreclosures. These falling prices mean there are a lot of houses sitting empty mainly because of the the high unemployment rates as well as the economic crisis.
Here is a list of government agencies that offer assistance to home buyers who are looking for homes for sale in California (and all over the United States).
Department of Veteran Affairs
Federal Deposit Insurance Corporation (FDIC)
US Department of The Treasury Internal Revenue Service
At each of these websites listed above, you will find a long list of homes available in California. Some of them are foreclosed homes, some are being offered for auctions, all of them are listed at competitive prices.
Find a Realtor
What is a Realtor? – A realtor is a real estate agent who is a registered member of National Association of Realtors (NAR). This membership stipulates a code of ethics that each member must follow as well as an official Standard of Practice that dictate the professional practices of every realtor.
The National Association of Realtors has more than 720,000 real estate agents who are willing to help home buyers find a home.
If you are looking for a home in an unfamiliar area, you will probably need help finding and viewing available properties. A Realtor can assist you and you can view homes with the amenities and extras you expect.
When you go on a home buying search on your own in unfamiliar locations, it is difficult to know where the hidden treasures are. You Realtor have access to information that list the unbelievable bargains and the homes that fit closely to your own list of demands.
Single family homes in California offered at affordable prices are sometimes purchased as soon as they are made public. Your broker may be able to show you properties that are fresh on the market, at a price that is perfect for your budget.
When you choose a realtor to help you find a home, you will have someone to work hard to help you find the right property. You can find a list of Realtors and a comparison of lenders in California and their interest rates, on the NAR website.
What Can a Realtor Do For You? A Realtor can assist you in all areas of buying a home. A Realtor is aware of the properties available in the area you choose and they will help find a home in your price range.
Because of the inside information available to a Realtor, you can expect to be informed of zoning laws, taxes, schools in the area, hospitals and other factors that can make your home buying experience easier.
For Sale By Owner
There are dozens of listings of homes for sale in newspapers and on the Internet. The current real estate market make it possible for you to find homes in all price ranges. There are also homes listed for sale by owner.
When you buy a home from the owner, the buyer and the seller need to know what they are supposed to do so that the sale will be a good experience for both parties. If you choose to buy your home from the owner, get as much information as you can find about the proper and the legal way to buy a home in California.
When you are ready to buy a for-sale-by-owner home;
Make sure you are pre-approved before you approach anyone about their property. The homeowner want to get the sale finished as soon as possible and they should not have to wait while you find out if you qualify for a mortgage loan.
After you have found the home you want to purchase, contact the owner by telephone or through email. If you have any questions at all, now is a good time to ask them. If you are satisfied with all of the answers and you want to proceed, make an appointment to meet face to face.
You can make a tour of the home during the meeting and this will give you a chance to see if you still want the property.
Get a copy of the current market value of the home and property to see if the asking price is comparable to the other homes in the neighborhood. To find out the true value of a piece of property, you need to get an appraisal or a property report to determine the value of other homes in the immediate area.
Spend money on a reputable local real estate attorney to help with the legalities of buying a home. The money spent is well worth it. You can buy your home without any legal complications.
Make an offer to the home owner if you decide you want to buy. You can get the official papers from your attorney. If you did not hire an attorney, you can get the necessary papers from different sites on the Internet and from the courthouse or the housing administration.
Get the home inspected before you sign the final papers that will close the deal. The results of the inspection will determine if you want to continue with the deal or if you need to keep looking for the perfect home.
There are thousands of homes in for sale in California. The Internet, newspapers and the trips around different neighborhoods can help you find your dream home.