- Chernov Team

Our Real Estate Blog

Finding the Right School District for Your Child

If you have children, you know that virtually every decision you make in life must be informed by what’s best for them. Finding a new home is no different; where you purchase your next home will necessarily be informed by how it will impact your child. This article briefly discusses how to find relevant information about local schools.  Knowing where to look for information, as always, is a critical piece of knowledge to have in your pocket. As an initial matter, the district’s website will have plenty of information on the school, though it will likely be skewed to show the district in the best light. To get a clRead Full Post »

Mortgage Rates Reamin Low, Signaling Good Times in the Future for Home Sellers

While mortgage rates have been on the rise, they didn’t move much last week. It is worth repeating that despite the rise in mortgage rates, we are still well below where we were at the same time last year. Low interest rates are good for sellers, as buyers are able to afford pricier homes; this is particularly true in light of the increase loan cap that will go into effect next year. Economists believe the lack of movement in mortgage rates send both good, and bad, signals about the state of the U.S. economy as we enter the holiday season.  The 30-year fixed-rate mortgage (“FRM”) hovered at 3.68% during the weekRead Full Post »

Veteran Loans to Increase Cap, Benefiting Veterans Seeking to Purchase Homes in High Price Areas Where They Serve

The Blue Water Navy Veterans Act of 2019 (“BWNVA”) will go into effect in 2020, and will allow veterans to purchase higher value homes without providing a down payment; they will still have to qualify for the mortgage itself, and prove they are capable of making their monthly payments.  The BWNVA allows the members of our armed services to purchase homes in areas they want to live in, but couldn’t afford to prior to the enactment of this law. Previously, the vast majority of veterans simply could not purchase in some of the higher-cost areas in the country, despite serving there. This is because prior to the enaRead Full Post »

Increased Loan Limits: Probably a Good Sign for Sellers

On November 26, 2019, The Federal Housing Finance Agency announced that it will increase the limit for conforming loans; mortgages that are in-line with the standards set by Fannie Mae and Freddie Mac. Thus, beginning in 2020, borrowers will be able to take a loan of up to $510,400 across the nation. In areas like Encino, Tarzana, Sherman Oaks, or Studio City (and any other high cost location), borrowers will be able to take a higher loan depending on how many units the property contains. For single units, the maximum will be $765,600; for two-units, the maximum will be $980,325; for three-units, the maximum will be $1,184,925; and for four-units, the maximum Read Full Post »

Small Business Saturday

Put on your boxing gloves, put in your mouth guard, and prepare to hit the stores for glorious battle this coming Black Friday; or you could take it easy at Small Business Saturday. After the Great Recession, in 2010, American Express began encouraging buyers to make purchases from small local businesses. This has caught on, and now there are a lot of small businesses that offer great deals the day after Black Friday. The benefit of going to these smaller shops are two-fold: First, you will find unique items that you couldn’t find anywhere else; and unique things are typicalRead Full Post »

The Future is Near: Getting Your Home Office in Working Order

It’s nearly 2020, and certain realities are unavoidable. With the increased cost of commercial space, and the exponential evolution of technological capacity, remote employment is something we should all be prepared to embrace; at least those of us who are in a position to buy a home. This means you’re going to be spending quite a bit of time in your home office. I think everyone can agree that we are most productive when we are comfortable, and part of comfort is enjoying the aesthetic feel of a room. This article will briefly discuss trendy ways to spruce up your home office in anticipation of the future.  We caRead Full Post »

Pre-Offer-Inspections: The Pros and Cons

Certain personality types simply can’t stand going into anything blind, and that includes making an offer on a property; they need to make sure that the property is perfect beforehand. If that’s the case, there is nothing stopping you from having a pre-offer inspection; be warned, however, that there can be consequences.  As a Buyer, performing a pre-offer inspection has numerous benefit. One of these benefits is ensuring that only houses that meet the buyer’s requirements will receive offers; why would you make an offer on a hoRead Full Post »

Millennials Hoping to Buy a Home in the Next 5 Years Need to Emphasize Savings

We read about it regularly; millennials aren’t doing so hot. Luckily, Apartment List has conducted a few surveys that will give us some insight into how millennialsRead Full Post »

Taking Your Neighborhood for a Test Drive: A Good Use of PTO

Your new car costs $50k, would you buy it without getting behind the wheel and feeling how it handles? Take some time to picture yourself driving around town in that fine piece of machinery before you let some slick haired salesman tempt you too much? Given that houses cost many times more than your new car, it would be unwise to approach that purchase with less care than you would a car.  The first step is to get a feel for what living in the area will feel like. It’s 2019, and Air BnBs are a thing; pick a good weekend and take theRead Full Post »

Decluttering Your House in an Eco Friendly Way

While we should always be thinking about ways to give back, we’re getting close to the time of year when we receive additional encouragement to think about others; today, we’re going to talk about a very deserving recipient of our thought – the planet. Given that today is National recycling day, we have an even better reason to be aware of Mother Earth’s needs. Further, since the holidays are coming up, you are likely cleaning your place in anticipation of having guests over; so what can you recycle? Everyone that has a libraryRead Full Post »

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