With a slight dip in average sales price and seller concessions available, your opportunity to buy a home may be better than you think.

Is now the right time to buy a home in Burbank, Glendale, or North Hollywood? If you’ve been considering it, there are some great options that make homeownership more attainable than you might expect.

Wondering if now’s the right time to buy a home in Burbank, Glendale, or North Hollywood? With rising interest rates, closing costs, and market uncertainty, many buyers are feeling hesitant and unsure where to start. But here’s the good news: thanks to current local trends and new loan options, homeownership might be more achievable than you think. From low down payment programs to flexible financing strategies, there are real opportunities to make buying a home in today’s market not only possible, but smart.

CalHFA is back and offering programs that make homebuying easier. You could qualify for below-market interest rates and get in with as little as 3% down. You might even ask the seller to cover some of your closing costs to keep your upfront expenses low. With flexible terms for California families and first-time buyers, there’s a good chance you can find a plan that works for you. It’s also helpful to take a look at the local market.

Market overview. Over the past year in Burbank, Glendale, and North Hollywood, we’ve seen some small but notable changes. Last September, 123 homes closed compared to 133 this year, which is about an 8% increase.

The average sales price dipped slightly, from $1,187,000 to $1,179,000, which is less than a 1 % drop. Interest rates at the end of last September were around 6.138% and as of early September this year, they are just a little higher at 6.315%. From what we’re seeing, the Federal Reserve may reduce rates soon, which could make buying even more attractive.

Homeownership might be closer than you think. If you’re curious about how to take advantage of low down payments, flexible financing, or even seller concessions, you can call me at 818-953-5300 or send an email to brad@bradkorb.com. I’d love to help guide you through the process and get you closer to owning your dream home.