More first-time buyers are getting into homes with help from family and down payment assistance programs. Here's how it works, plus a quick local market update.

I want to give you a quick update on something I've been seeing a lot over the last couple of months, because if you're a first-time buyer, it's genuinely good news. The down payment is the biggest wall most people run into, and lately I'm watching more and more buyers get over it with help, from family and from assistance programs.

If that's the piece standing between you and your first home, you have more options than you might think.

Family gift letters are opening doors. I'm seeing a lot of down payment funds come in through gift letters, money from moms, dads, grandparents, aunts, and uncles who want to help a first-time buyer get started. It's a completely legitimate and common way to fund a down payment, and if you've got family who might be willing to help, I'm happy to walk you and them through exactly how a gift letter works. Sometimes just knowing it's an option changes everything.

Assistance programs can cover more than you'd expect. There's a lot of first-time homebuyer assistance out there through different lenders right now, including down payment assistance and help with closing costs. If you're not sure where to start, I can point you to lenders who specialize in getting first-time buyers in with as little out of pocket as possible. That's the whole goal, getting you into your first property for as low as we can.

As property owners get older, a lot of them decide they don't want to manage real estate anymore. The tenants, the maintenance calls, the midnight emergencies. They've done it for years and they're ready to step back. But selling the property outright would trigger a significant capital gains tax bill.

“It's a shift in what's selling, not a crash.”

Here's your quick Burbank-area market update. Comparing the last 30 days, July 2025 to July 2026, across Burbank, North Hollywood, and Glendale:

• Sales are up. 144 sales last year compared to 150 this year, about 4% more homes changing hands.

• The average price is down about 10%. Around $1,155,000 this year, from roughly $1,277,000 a year ago.

• Rates held steady. Sitting right around 6.7%, essentially flat from a year ago.

That price drop isn't what it looks like. Before that number scares anyone, here's what's really behind it: we're seeing a lot more condos, starter homes, and lower-priced properties selling right now, while some of the higher-end homes are sitting on the market a bit longer. When more of the lower-priced homes sell, the average price drops even if individual homes haven't lost value. It's a shift in what's selling, not a crash.

Why steady rates help you. For a first-time buyer, that stability is actually helpful. It means you can plan without worrying that rates are swinging wildly underneath you.

So here's what I'd love to do. If you're thinking about buying your first home, let's talk about the pieces that actually get you there, whether that's helping your family understand how to gift you a down payment, connecting you with a lender who offers assistance, or finding money toward your closing costs. My whole aim is getting you into your first property for as low as we can.

Call or text me at 818-953-5300, email me at brad@bradkorb.com, or visit bradkorb.com. Let's figure out your way in.