Those Sneaky Little (or BIG) Closing Costs

For all of you new buyers out there, don't forget one very important detail you don't hear much about when budgeting for your new purchase. In addition to the amount of money you will be putting down toward your new home purchase, you will also need to set aside some dough for closing costs.

Closing costs are basically service fees (mortgage costs, escrow charges), taxes and various other legal charges that buyers and sellers both pay to complete the transaction. It's not an exact science, but buyers can expect to pay anywhere from 1-2% of the purchase price toward closing costs.

So if you purchase a home for $700,000, you are likely to pay approximately $7,000 or higher, depending on the fees charged by your lender. There are additional fees like pre-paid property taxes and homeowner's insurance that you might also have to pay, depending on your loan and lender requirements.

The good news is that buyers traditionally DO NOT pay their Realtor's commission. That is paid by the seller through their agent. One very good reason to not embark on this journey alone! It is even possible to have the seller pay your closing costs. Ask me how.

Speak to a Realtor like me when you're getting ready to start home shopping. Call anytime 323-528-9989.

SOLD! - Gorgeous 3 Bedroom 2 Bath Mid-Century Pool Home in Palm Springs

Updated Mid-Century pool home in Ruth Hardy Park/Movie Colony East in Palm Springs. Check out this gorgeous 3 bedroom 2 bathroom home with desertscape and drought-resistant landscaping.

CALL ME IF YOU HAVE INTEREST BUYING A HOME LIKE THIS IN PALM SPRINGS OR LOS ANGELES! 323-528-9989

SOLD! 4 Bedroom 2 Bath Home in Chino Hills

I helped my buyers get this home for $540,000. It was originally listed for $550,000. Totally remodeled 4 bedroom 2 bathroom single family home with a large yard and swimming pool. All you buyers out there looking, please give me a call. I will make it happen for you. 323-528-9989 Gerry

SOLD! PLAYA DEL REY 2 BR 2 BA CONDO BY THE BEACH

This beauty received multiple offers and sold well over the asking price of $549,000. In fact, this gorgeous condo by the beach sold for $565,000. If you're interested in selling your condo or single family home, please give me a call at 323-528-9989.

Don't Wait for the Outcome of the Presidential Election

More and more buyers tell me they are waiting to put in offers on new homes until after the election. The problem with that is that when Hillary Clinton wins, the market will take off again. Beat the other buyers to the punch. Buy now!

Home Sales Slowing & Buyers Showing Reluctance

September 18, 2016

We don't need services like Zillow and other inaccurate real estate "bellwethers" to mislead consumers into thinking home prices, especially throughout Los Angeles, will continue to rise. It's just not true. Home sales were steady, with prices rising and competition among buyers fierce over this past year, but things have slowed. Buyers are not accepting the current pricing of many homes, which has largely been based on lack of inventory.

All you need to do is drive around the city and see all of the open house signs on street corners. Less than six months ago, you were lucky if you saw a handful of signs. Take a random neighborhood like West Hollywood in the 90069 zip code. There are currently 44 2-bedroom condos for sale in that one area. And that's just condos!

Inventory is becoming plentiful. I'm no economist, but I am on the front lines of real estate. I see the increased number of listings and the competing open house signs crammed together on street corners, all in real time. Increased inventory means more choices and more competition, which spells one thing: Price Flattening and Price Reductions.

This type of news usually reaches consumers at least thirty days after things are underway, but we see it as it unfolds. The good things is that this is good news for buyers and for sellers who don't get hung up on falsely created, unrealistic sale prices.

Will the housing market tank? No-no-no. The affordability belt, however, will loosen, and prices might drop just enough to give so many that deserve a shot at home ownership a window of opportunity to finally realize their American dream.

Don't blow your opportunity. Oftentimes when prices drop, they will pop back up a month or so later. Be prepared. Get pre-approved and find a Realtor like me to keep you on your toes. Opportunity is knocking. Open the door.

IN ESCROW - 2 Bedroom 2 Bath Top Floor Condo in Playa Del Rey by the Beach

IN ESCROW! Time to have your cake by the ocean and eat it, too! Fantastic top floor condo in 8-unit complex with crazy low HOA dues (only $269/mo). Located in the heart of Playa Del Rey and just two blocks from Dockweiler Beach. Open Floorplan Living Room, Dining & Kitchen. Private balcony. Located in the rear of the complex for ultimate privacy and quiet. Master bedroom w/ en suite bathroom. Totally remodeled in 2012. ONLY 8 UNITS IN THE COMPLEX! Offered at $549,000. More photos here - CLICK HERE FOR MORE PHOTOS.

Dockweiler Beach

Call or email for details. 323-528-9989.

SOLD! AFTER 1st OPEN HOUSE - 3-Story Townhouse - 906 N Kings Rd. #7

Turnkey 3-story architectural townhome located in the heart of West Hollywood on Kings Rd. Perfect layout. Standouts include open concept main living space featuring spacious living room, dining area, updated kitchen, and vaulted ceilings. There's a fireplace in the living room and master bedroom, which also features an en-suite bathroom, walk-in closet, laundry, and a private enclosed outdoor patio. There's a second loft-style bedroom on the third level. They don't call this quiet 8-unit complex the Treehouse for nothing. This turnkey unit is located at the rear of the complex with a spacious outdoor patio and set among the trees and lush landscaping. Also includes secured parking, a private storage closet off the garage and one of the most reasonable monthly HOAs in the city. A block in either direction to popular coffee shops, the dog park, cafes and restaurants, supermarket, and so much more. Offered at $639,000.

Living Room/Dining

Living Room

Updated Kitchen

SEE A LOT MORE PHOTOS AND THE FLOORPLAN BY CLICKING HERE!!!

SOLD!!! 750 S Spaulding Ave, Los Angeles

I got my very excited buyers into escrow on this condo for under the asking price - even in a climate with multiple offers. Message me and find out how! @gmoylan or call 323-528-9989

NEW KITCHEN

LIVING ROOM

REMODELED BATHROOM

JUST LEASED: Large Beverly Center 1 Bedroom 1 Bath w/ Laundry Hookups Inside Unit $1850

Killer location - across the street from Trader Joes and The Larder at Burton Way and just one block from The Beverly Center and Cedars. Large one bedroom, one bath apartment with spacious living room and formal dining room. Great full-size kitchen with walk-in pantry. Laundry hookups inside the unit! Also features central heat/ac and garage with remote access for one car. Only six units in this small complex. Call or email Gerry to setup an appointment to see. CLICK HERE FOR MORE PHOTOS & INFO

JUST LEASED: Large 2 Bedroom 2 Bath Condo w/ Washer/Dryer Inside Unit - Westwood Village

To View More Photos CLICK HERE.

Very large two-bedroom, two bath condo adjacent to Westwood Village. Each bedroom is located on the opposite side of the spacious condo, which makes it perfect for roommates seeking privacy. There is a spacious living room w/ fireplace and dining area with enclosed balcony. Walk-in closet. The kitchen is quite large and comes with stove/oven, dishwasher and refrigerator. There is a side-by-side washer and dryer inside the unit as well as central heat and AC. Two parking spaces inside gated and secured garage are included. The lobby has been recently remodeled, and there is a rooftop spa with stunning views of Los Angeles. Just blocks to UCLA, Century City & Beverly Hills and the 405 freeway. Minimum one-year lease, and a security deposit equal to one month?s rent is required. $2650/mo.


To View More Photos CLICK HERE.

JUST LEASED - Extra Large Single w/ Separate Eat-in Kitchen & Free Laundry

It only took one day! Located one street away from Beverly Hills, this extra large single features a separate eat-in kitchen, refinished hardwood floors, and lots of closet space. Includes refrigerator and new stove/oven. There's also a large full-size bathroom with shower and bathtub. The entire unit has been freshly painted and is very well maintained. BONUS: Tenants have FREE use of the on-site laundry room. This ground floor apartment has plenty of natural light and is one of only six units. It also comes with one covered parking space in the carport behind the property. Very quiet and tranquil environment. Units very rarely come available in this small complex. Nestled on a tree-lined street, the property is just one-half block from coffee shops, restaurants, and great shopping. Minimum one-year lease, and a security deposit equal to one month's rent is required. $1750/mo. CLICK HERE FOR MORE PHOTOS

Another testimonial from a recent client...

"Gerry was a rockstar and true advocate for us. He was available well beyond business hours and when we hit snags, he was there to help us move past them and get unhelpful people on our team. I would highly recommend Gerry to anyone, especially first-time buyers looking for someone to hold their hand throughout the entire process. Thank you Gerry!"--Brian R & Leslie (Buyers)