Yesterday’s LA Times real estate section had a good Q&A question: As a first time home buyer, is this a good time to buy? Home values have plunged and home prices may fall further, so is this the best time to buy?

Columnist Liz Weston wrote some good thoughts. She said the best time to buy is when:

1. You have a strong desire to be a homeowner.
2. You are financially prepared and can afford the costs of a home, and
3. You are ready to stay put for several years.

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This 3 part “quickie” tutorial leads you through the process you’ll follow to buy your first home. First comes financing the purchase, then finding your home, and finally escrow. Here’s the outline of what gets covered: Read the rest of this article »

Part II – The search and offer

Desire vs. reality

When you begin your home quest, the home on the left is what you’ll desire, but after you crunch the numbers, is this the home you can REALLY afford? Read the rest of this article »

Part III – We got the deal! (Now what?)

The time clock (17 days) starts running!

Escrow opens. They get copies of all agreements, plus your check!

Multiple tracks run simultaneously. Read the rest of this article »