Real Estate Agents, Brokers & Realtors in California
Real estate refers to land and the properties on it whether buildings, natural resources, immovable property or anything affixed to it etc. Real estate in California is very rife due to its importance in mortgage financing and the fact that a wider chunk of the mortgage financing world is based there. This has made the industry become one of the largest sources of employment on varying levels to workers, based on their education background.
What a Buyer Need To Know
While buying a home is a big step and a big investment too, a real estate buyer needs to factor in a few tips to guide in making the right decision. After making up his/her mind the question of affordability should be honestly answered since a down payment of between 5%-20% is needed and enough saving should have been amassed. The next consideration should be in selecting a real estate broker which will require a lot of homework by interviewing the real estate agents in California and checking out their licensing status. Before embarking on the buying of real estate determine the feature you would want, the location, the size, the proximity to the stores etc. once a home is found, inspect electrical, plumbing by actually hiring a professional. Lastly determine how you wish to pay the seller of the real estate and what amount. The real estate broker you hired however should be able to guide you on this. Before signing of the agreement go through it until you are certain you understand and ask for clarification where it seems vague.
A buyer of real estate can engage the services of the bureau of real estate in determining the status of the land he is trying to acquire. The organization was formed with the intention of protecting buyers by offering licenses to real estate agents in California. Besides a buyer can use online services that offer searches for homes on sale by doing a simple search using the state and city desired. Realtor.com is one such agent featuring properties on sale in California.
News on Real Estate in California
Selling real estate is expected to continue on its upward trend in another two years before the rate stabilizes to 4% - 6% range which would align to the growth of income. The price range in 2014 was the highest ever recorded since 2007 where a single California home rose by 3.3% from $464,750 in July to $480,280 in august in the year 2013. However barriers to the building of new houses created an imbalance between demand and supply causing a fall in sale by 13.5% in august 2014. Thus there are factor that will have impact on the Californian real estate market and this would halt the progression of the industry. The fact that no more money is coming to market will mean less investor and further the loss of the earlier corporate attention. Institutional investors had gone up by 0.9% but by august 2013 they had scaled down by 23% with the dwindling supply of properties and the rising cost.