Real Estate

Brian Suder is the President and Founder of Brian Suder Inc., headquartered in Culver City CA. A seasoned real estate and mortgage expert, Brian was mentored by one of the nations leading experts in the loan modification industry, a former Commissioner of HUD. To date, Brian and his team have helped thousands of homeowners avoid foreclosure through successful loans

How long does it take to buy a home?

From start (searching online) to finish (closing escrow), buying a home takes about 10 to 12 weeks. Once a home is selected an the offer is accepted, the average time to complete the escrow period on a home is 30 to 45 days (under normal market conditions). Though, well-prepared home buyers who pay cash have been known to purchase properties faster than that.

What is a seller’s market?

In a seller’s market, increasing demand drives prices higher. This may be the result of economic factors, interest rates trending downward, or low inventory.

What is a buyer’s market?

A buyer’s market is characterized by declining home prices and reduced demand. Several factors may affect long-term and short-term buyer demand, like: Economic disruption – a big employer shuts down operations, laying off their workforce.

How much do I need for a down payment?

The national average for down payments is 11%. But that figure includes first time and repeat buyers. Let’s take a closer look.

While the broad down payment average is 11%, first time homebuyers usually only put down 3 to 5% on a home. That’s because several first-time home buyer programs don’t require big down payments. A longtime favorite, the FHA loan, requires 3.5% down. What’s more, some programs allow down payment contributions from family members in the form of a gift.