Answers by Stella Aklian

Usually, one owner can buy out the other’s share, the property can be sold and the proceeds divided, or both owners can agree on another arrangement based on their ownership percentages and mortgage obligations. If you want to keep the house, the cleanest solution is often a buyout combined with refinancing, so the departing owner is removed from both the title and the loan.If you can’t agree, a legal partition action may be possible, but that is usually the last resort. Before making a decision, review the deed, mortgage balance, current market value, and each owner’s equity with a Realtor and real-estate attorney. Stella Aklian | Real Estate Agent Los Angeles • Glendale • Burbank • Pasadena

This type of transaction needs to get involved your Realtor, CPA/tax advisor, lender, and, when applicable, a qualified intermediary before listing the property. That way, the sale and replacement purchase can be structured correctly from the beginning instead of trying to fix the tax strategy after escrow has already closed. It’s also important to clarify what you mean by "a different area". Are you planning to buy in a different neighborhood or city within the same state, or are you considering moving to another state? That distinction can matter when evaluating your financing, timing, tax considerations, and the best overall strategy for the sale and purchase. Stella Aklian | Real Estate Agent Serving Los Angeles, Glendale, Burbank & Pasadena

I wouldn’t make the decision based only on the seller refusing a $125K credit. I’d make it based on whether you still want the property knowing the full structural risk is now yours. On a $3.3M purchase, $125K is about 3.8% of the price, but with major foundation work the bigger concern is whether $125K is really the final number. Once walls are opened, additional structural, waterproofing, drainage, electrical, plumbing, or finish work can easily be discovered. I would want the structural engineer and contractor to clearly define the worst-case scope, not just the current estimate. “As-is” also doesn’t necessarily mean you must accept every condition discovered during due diligence. What matters is your actual contract, whether your inspection/investigation contingency is still in place, and whether you have already removed it. If the contingency is still active, this is exactly the type of information buyers should evaluate before deciding whether to proceed. Before walking, I would consider three things: Is the property still worth $3.3M plus potentially $125K–$200K+ in repairs and uncertainty? Would you have purchased it at the same price if you had known about this problem before making the offer? Is there something unique about this property that would justify taking on this level of structural work? If the answer to those questions is no, walking away can be a financially reasonable decision. A $125K repair today can become a much larger problem once construction begins. But before cancelling, have your agent confirm your contingency status and any potential impact on your deposit.

Buying a California home in cash with family and refinancing right after closing can work, but it needs to be structured carefully. The biggest issue is whether the parents’ money is a true gift or a loan that must be repaid. If repayment is expected, it should not be documented as a gift. The future mortgage lender also needs to approve the structure, because refinancing, lien payoff, title changes, and appraisal requirements can all affect the transaction. In many cases, the cleaner option is for the buyers to purchase directly with financing and use a properly documented family gift toward the down payment. Before closing, coordinate with your Realtor, lender, escrow/title company, CPA, and real-estate attorney so the financing and title strategy is clear from day one. Stella Aklian | Real Estate Agent Los Angeles • Glendale • Burbank • Pasadena

Nina, I'd say that the best strategy is to combine: • Direct MLS alerts through your Realtor • Zillow or Redfin for everyday browsing • Private and pre-market listings through agent networks • County property records for ownership and property research The bigger point is that the best search isn't about finding one better website. It's about layering MLS data, public portals, public records, private/pre-market inventory and an agent's local network. Work with a local real estate agent, because you need to know not only what is currently listed, but also what's coming, what recently failed to sell, what changed price, what may be available privately, and whether a property actually makes sense once we look beyond the photos and Zestimate. Stella Aklian | Real Estate Agent Serving Los Angeles, Glendale, Burbank & Pasadena

Jessica, you may be considered a first-time homebuyer again, even if you previously owned a home. Many loan and down-payment assistance programs define a first-time homebuyer as someone who has not owned and occupied a primary residence during the previous three years. But requirements vary, so your lender must review the specific program.

Short answer is Yes, your family may still be able to buy a home while receiving SSI or Social Security. These benefits can often be counted as qualifying income if they are properly documented. Possible options include: • FHA loans with low down payments • CalHFA down-payment assistance • Conventional low-income programs such as Home Possible • USDA loans in eligible areas The main requirements are sufficient documented income, acceptable credit, manageable debts, and enough funds for the down payment and closing costs. SSI has strict resource limits, but a home used as your primary residence generally does not count as an SSI resource. Be careful with large cash gifts or down-payment funds placed into an SSI recipient’s account, because they may temporarily affect eligibility.

Before deciding whether the $480,000 offer is too low, it is important to understand exactly where the property stands in the foreclosure process and how the estimated $780,000 value was determined. In California, the formal nonjudicial foreclosure process generally begins when a Notice of Default is recorded. If the default is not resolved, a Notice of Trustee’s Sale may later be issued, identifying the scheduled auction date. Once that notice is recorded, the sale generally cannot occur sooner than 21 days later. If you have not received a Notice of Trustee’s Sale and there is currently no auction date, you may have more time to market the property properly rather than accepting a deeply discounted investor offer. However, you should immediately contact the mortgage servicer or foreclosure trustee to confirm: • Whether a Notice of Default has been recorded • Whether a sale date has been scheduled • Any unpaid taxes, liens, penalties, or foreclosure expenses The next question is: Where did the $780,000 valuation come from? Was it based on: • A licensed appraisal • A real estate agent’s comparative market analysis • Recent comparable sales • An online estimate such as Zillow or Redfin • The property’s estimated value after renovation This distinction is extremely important. If $780,000 is the expected value after installing new windows and renovating the kitchen and bathrooms, the current as-is value will be lower. However, that does not automatically mean the property is worth only $480,000. Because there does not appear to be an immediate auction date, the best next step would be to consult an experienced local real estate agent who understands foreclosure and as-is sales. The agent should compare the property with recent sales of similar homes in similar conditions, not only fully remodeled homes. Based on the information provided, I would not reccomend to accept the $480,000 offer until the $780,000 value is verified, the foreclosure timeline is confirmed, and an accurate as-is market analysis is completed. The offer may be based on an investor’s desired profit rather than the property’s true open-market value.

A strong school district should carry some weight, even for buyers without children, because it can support resale value and attract a larger pool of future buyers. However, it should not override more important factors that directly affect your lifestyle and the property’s long-term appeal. For a child-free buyer, I would generally prioritize: 1. Overall location, commute, and neighborhood desirability 2. Property fundamentals, including lot size, layout, parking, and condition 3. Affordability and total monthly carrying costs 4. Broader resale demand 5. School ratings as an additional resale benefit In many cases, choosing the better home and larger lot in a solid, desirable neighborhood may be a smarter investment than paying a significant premium solely for the school district. The premium may be worthwhile when it is reasonable, the area has consistently strong buyer demand, and local sales data clearly supports the higher resale value.

Yes. In California, you may qualify as a first-time homebuyer again. For many California first-time homebuyer programs, including those offered by the California Housing Finance Agency (CalHFA), a first-time homebuyer is generally defined as someone who has not owned and occupied a principal residence during the previous three years. So, if you: • Sold your primary home more than 3 years ago and have been renting since, you may qualify again. • Have never owned a home, you qualify. • Owned only an investment property (and not your primary residence), you may qualify for some programs. If you are thinking about buying a home or wondering if you qualify, reach out to me, Stella Aklian, for a complimentary, no-obligation consultation. I'll help you understand your options, connect you with trusted lenders, and guide you through every step of the home-buying process.

I have discussed this topic with many clients, and honestly, the right choice is not always “new” or “old.” The right choice is the home and neighborhood that best support your lifestyle today while also making sense for your future. When comparing a new construction home with an older home in an established neighborhood, you have to look beyond the finishes and floor plan. You should consider your lifestyle, personality, family needs, monthly budget, commute, neighborhood feel, and long-term goals. New construction homes can be very attractive because they usually offer modern layouts, energy-efficient features, updated systems, builder warranties, and easier maintenance for at least the first several years. For buyers who want something move-in ready with fewer immediate repairs, that can be a big advantage. However, new homes may also come with higher monthly costs. Many new communities have HOA fees, Mello-Roos, special assessments, and community rules that can increase your payment and limit what you can do with the property. That is why it is important to review the full monthly cost, not just the purchase price. Older homes in established neighborhoods may offer larger lots, mature trees, more character, and stronger neighborhood identity. But they may also require more maintenance, especially when it comes to the roof, HVAC, plumbing, electrical, windows, foundation, sewer line, and drainage. My professional advice is to choose the right area first. At the end of the day, location is one of the most important factors when investing in real estate. You can update a kitchen, remodel a bathroom, improve landscaping, or replace systems over time, but you cannot change the location, street, neighborhood, or community around the home. Before making a decision, compare both options carefully: monthly payment, taxes, HOA, Mello-Roos, maintenance, resale value, neighborhood demand, and how the home fits your lifestyle. The best home is not just the one that looks good today , it is the one that continues to make sense for your future.

The credit score you need to qualify for a mortgage depends on the type of financing you choose and your overall financial profile. For example, FHA loans may allow credit scores as low as 580 with a qualifying down payment, while conventional loans typically require a higher credit score. In general, the stronger your credit score, the better your chances of qualifying for more favorable loan terms and a lower interest rate. However, credit score is only one part of the approval process. Lenders will also review your income, debt-to-income ratio, employment history, savings, down payment, and overall financial stability. The best step is to speak with a trusted lender early so you can understand what loan options you qualify for and what price range fits your current financial situation. If you are thinking about buying a home in Los Angeles, Glendale, Burbank, Pasadena, or surrounding areas, I can help connect you with the right professionals and guide you through the home-buying process with confidence. Stella Aklian Real Estate Agent | John Hart Real Estate Los Angeles | Burbank | Glendale | Pasadena

Paying down debt and building your savings are great first steps, but mortgage approval isn't based on credit alone. It's also important to consider your overall financial situation, income, monthly expenses, and long-term goals. One of the biggest mistakes buyers make is focusing only on what they can qualify for instead of what they can comfortably afford. The best approach is to speak with both a lender and a Realtor early in the process. Together, we can help you understand your buying power, explore available loan programs, and determine whether the homes in your budget align with your needs, lifestyle, and future plans. Chris, feel free to connect with me anytime for a complimentary, no-obligation consultation. I'd be happy to answer your questions, discuss your goals, and help you create a plan for successful homeownership. Stella Aklian Helping buyers make smart real estate decisions in Los Angeles, Glendale, Burbank, and surrounding communities.

Before deciding to rent an inherited property with family, the first step is to understand the full picture. Confirm each sibling’s ownership percentage, whether the property is paid off or has a remaining mortgage balance, and what the monthly expenses will be. Then do the math: mortgage, property taxes, insurance, repairs, maintenance, vacancies, management fees, and possible legal costs. Renting can create income, but dealing with tenants is not always easy, especially in California, where landlord-tenant rules can be strict. Before moving forward, speak with a CPA to understand the tax impact, rental income, deductions, depreciation, and any property tax issues. It is also smart to have a written agreement between the siblings explaining how income, expenses, responsibilities, and future sale decisions will be handled. Treat it like a business from the beginning, not just a family arrangement.

The answer depends on the state you're looking to buy in, as every state offers different programs and incentives for homebuyers. Here in California, many first-time homebuyers can qualify for loan programs with as little as 3.5% down, and from time to time there are also down payment assistance programs that can help reduce your upfront costs. Eligibility often depends on factors such as income, credit, location, and the type of property you're purchasing. The best place to start is by speaking with a trusted Realtor and lender who can review your specific situation and help identify the programs you may qualify for. If you're considering buying a home in Los Angeles, Glendale, Burbank, Pasadena, or surrounding areas, I'd be happy to connect, discuss your goals, and guide you through the process from financing to finding the right home.

Are you relocating? Upsizing? Downsizing? Purchasing another property? Looking to access your equity? Your goals and circumstances should drive the decision more than trying to predict where rates are headed next. The reality is that no one can consistently time the market perfectly. I've seen sellers wait for lower interest rates only to face higher competition from other sellers later on. I've also seen homeowners sell during higher-rate environments and achieve excellent results because their home was properly priced, marketed, and positioned. Interest rates influence buyer demand, but they are only one piece of the puzzle. Factors such as inventory levels, local market conditions, neighborhood demand, property condition, and your overall strategy often have a greater impact on your final outcome. My advice is to focus less on timing the market and more on creating the right plan for your goals. A well-prepared home with a strong pricing and marketing strategy can perform successfully in almost any market.

Choosing the right mortgage lender as a first-time homebuyer can feel overwhelming, but the best approach is to compare your options before making a decision. I usually recommend interviewing at least three lenders. One can be a referral from a friend or family member who had a successful experience, and the others can come from your own research through Google, online reviews, rankings, or trusted real estate resources. Most lenders will do their best to give you attention and earn your business, but what matters most is finding someone who is knowledgeable, responsive, transparent, and easy for you to communicate with. You want a lender who explains your options clearly, helps you understand the numbers, and makes you feel comfortable and confident throughout the process. As a first-time homebuyer, I would not always recommend going directly to one bank only. A single bank is usually limited to its own loan programs, while an experienced mortgage professional or broker may have access to many different banks and loan products. That can give you more flexibility and may help you find a program that better matches your income, credit, down payment, and long-term goals. When choosing a lender, ask about interest rates, closing costs, loan programs, down payment options, first-time buyer programs, estimated monthly payment, and how quickly they can close. Also ask how available they will be during the process, because communication is extremely important when buying a home. At the end of the day, the best lender is not always just the one with the lowest advertised rate. It is the lender you trust, the one who explains everything clearly, and the one who helps you make the best financial decision for your situation. If you are thinking about buying your first home in Los Angeles, Glendale, Burbank, Pasadena, or surrounding areas, reach out anytime. I can help guide you through the process and connect you with trusted mortgage professionals who can help you compare your options.

An above-ground pool typically does not add significant value to a home, especially if it is older, takes up most of the backyard, or needs deck repairs. For some buyers, it may feel like extra maintenance rather than a benefit. If removing the pool would make the backyard feel larger, cleaner, and more usable, it may help the home show better. A simple open yard with grass or clean landscaping often appeals to more buyers than an older above-ground pool. Before making the decision, compare the cost of removal with the potential improvement in buyer perception. In many cases, presentation and usable outdoor space matter more than keeping an older pool.

I wouldn't make this decision based solely on interest rates or market headlines. I would look at: Your current home value Your mortgage balance Available equity Income and debt ratios Target purchase price Local market conditions Many homeowners with substantial equity and stable income, buying first and selling second often creates the best overall outcome. However, if carrying two homes would stretch your finances, selling first may be the safer and more economical choice. Stella Aklian, Realtor® John Hart Real Estate Helping buyers make smart real estate decisions in Los Angeles, Glendale, Burbank, and surrounding communities.

If I were representing you, I’d actively negotiate both sides at the same time so you don’t lose leverage on either deal. I’d focus on one thing first: protecting your strongest position, which is your current all-cash offer. Right now you actually have leverage, but timing is the only challenge. Here’s how I would approach it strategically: 1) Lock in your buyer first (without losing them) Since you have a cash buyer with a quick close, I would try to negotiate a flexible escrow timeline or a longer close of escrow instead of a rent-back. If they’re asking for a rent-back fee you’re not comfortable with, we can often structure it differently , or example? extended closing (45–60 days instead of 30) Or a delayed possession agreement with clearly defined terms 2) Do not lose your current buyer while exploring the other home. The biggest risk here is assuming time is unlimited. Cash buyers can move fast , but they can also walk fast. We want to keep them engaged while we build flexibility. 3) For the home you want to buy as mentioned it's off market. Since the seller is not active on the market yet, I would structure this as a parallel conversation, not a dependency.

Yes, you can switch mortgage lenders after you have already been pre-approved, especially if you have not found a property yet and are not under contract. It is very normal for buyers to shop around and compare lenders at this stage. If another lender is offering a better interest rate, lower closing costs, or a loan program that better fits your situation, it may be worth reviewing. The main thing to keep in mind is that a new lender may need to run your credit again, which can create an additional credit inquiry. Usually, mortgage-related inquiries made within a short shopping window are treated more favorably by credit scoring models, but it is still smart to ask the lender how they handle the application process before moving forward. Beyond the credit inquiry, the most important thing is choosing the lender you feel most comfortable and confident working with. A lower rate is helpful, but you also want clear communication, transparency, reliable timelines, and no hidden fees or surprises. Before switching, ask the second lender for a full loan estimate and compare: Interest rate, APR, Closing costs, Lender fees, Discount points, Estimated monthly payment, Down payment requirement, Prepayment penalties, if any, Timeline to close, Availability during escrow. At the end of the day, the best lender is not always just the one with the lowest advertised rate. It is the one who gives you clear answers, explains the numbers, and helps you feel confident through the home-buying process. If you are thinking about buying in Los Angeles, Glendale, Burbank, Pasadena, or surrounding areas, I can help you review the process and connect you with trusted mortgage professionals.

In general, if you lose your job right before closing, the issue comes down to financing. If the lender can’t fund the loan, the deal usually can’t close. Regarding your $5,000 earnest money deposit, it depends on your contract: If your loan contingency is still active, you’re typically protected and can cancel with your deposit returned. If all contingencies have been removed, the seller may have the right to keep it.

Great question — solar panels are one of the most common “surprises” sellers run into. In most cases, it depends on how your solar system was financed: 1) If you have a solar loan (like a personal loan or HELOC): The remaining balance (in your case, the $25,000) is typically paid off at closing from the seller’s proceeds, unless you specifically pay it off before listing. 2) If you have a leased system or PPA (power purchase agreement): The agreement usually stays with the property, meaning the buyer either assumes the payments or must be approved by the solar company to take it over. 3) If it’s fully owned (no loan): It simply transfers with the home as an upgrade. What matters most is this: The solar payoff must be disclosed early, because it affects your net proceeds and buyer negotiations. In today’s market, buyers are very sensitive to monthly obligations — so the structure of your solar agreement can absolutely impact how your home is priced and marketed.

One of the first things I tell my clients is to think about whether they would want to live in that neighborhood five or ten years from now. Are new businesses opening? Are homes selling quickly? Do you see families moving in and improvements being made around the community? A great neighborhood isn't just about what it looks like today—it's about its future potential. As your Realtor, it's my job to do the research for you. I look at market trends, home values, buyer demand, and upcoming developments to help you make a confident decision and choose an area that supports your goals, lifestyle, and investment for years to come.

That's a great question, and the answer isn't just about commission—it's about value and results. A lower fee may sound attractive upfront, but sellers should look at the bigger picture: How much money will you walk away with at closing? Saving a small percentage on commission doesn't always translate into more money in your pocket if the home sells for less, sits on the market longer, or receives less exposure. Not all agents provide the same level of service, marketing, negotiation, and strategy. The most important question isn't "What does the agent charge?" but rather, "What is the agent doing to maximize my home's value?" A strong listing strategy includes professional marketing, high-quality photography, targeted online advertising, social media exposure, pricing expertise, open houses, buyer outreach, and skilled negotiation. These factors can often have a much greater impact on your final sale price than the commission itself. At the end of the day, the best value isn't always the lowest fee. It's the agent who can help you achieve the best overall outcome for your goals and your bottom line.

In reality, that is a normal part of pricing strategy. If a home is adjusted based on market feedback or days on market, buyers usually see it as smart repositioning, not weakness. What can hurt perception is waiting too long or doing a big drop without explanation , but a well-timed, strategic reduction often helps attract new attention and serious buyers.

For a first-time homebuyer, one of the most important decisions is choosing the right Realtor, someone who can guide you through the process, explain every step clearly, and help you avoid costly mistakes. Beyond the price and appearance of the home, you should focus on whether the property truly matches your needs, lifestyle, and long-term goals. Location is one of the biggest factors. If you have school-age children, school ratings may be very important. Commute, neighborhood safety, local amenities, future resale value, and overall convenience should also be carefully considered. The home itself can often be improved over time. Kitchens, bathrooms, flooring, HVAC, plumbing, and other features can be repaired or upgraded. But location, lot size, neighborhood, street are impossible to change. During showings, pay attention to red flags such as roof condition, HVAC age, plumbing issues, electrical concerns, foundation cracks, water damage, drainage problems, unpermitted additions, high HOA fees, or signs of poor maintenance. After the inspection report, review everything carefully with your inspector and Realtor. Focus especially on items that may be expensive to repair or could affect safety, financing, insurance, or future resale value. It is also very important to buy at the right price. Your first home is not only a place to live, it can also become the foundation for your next real estate move. In the future, it may become a rental property, an investment, or create enough equity to help you upgrade to your next home. Looking back, many homeowners wish they had paid more attention to location, long-term affordability, neighborhood quality, major repair costs, and resale potential. The right home should work for your lifestyle today while also supporting your financial future. If you are thinking about buying your first home in Los Angeles, Glendale, Burbank, Pasadena, or surrounding areas, working with the right real estate advisor can help you make a confident and informed decision.

As a general rule, buyers should plan for approximately 2%–5% of the purchase price in closing costs. In some cases, the total can be higher depending on the type of financing and whether certain lender or loan-related fees are paid by the borrower. Closing costs may include items such as loan fees, escrow fees, title-related charges, appraisal costs, prepaid property taxes and insurance, and other transaction expenses. Your down payment is separate from these costs. One of the most important things you can do early in the buying process is be completely transparent with your Realtor and lender about how much cash you are comfortable bringing to closing. An experienced real estate agent can work together with your loan officer to determine: • What type of loan you may qualify for • How much cash you will realistically need • How the offer should be structured • Whether seller credits can be negotiated to help cover eligible closing costs • Whether lender-credit or other financing options may help reduce your upfront expenses Depending on the loan program and the strength of the offer, we may be able to negotiate seller credits toward allowable closing costs, which can significantly reduce the amount of cash you need at closing. The goal isn’t simply to find a home you can afford — it’s to structure the purchase in a way that makes financial sense for you from the beginning. Stella Aklian | Real Estate Agent Serving Los Angeles, Glendale, Burbank & Pasadena

Yes, a minor can own real estate in California, but they generally cannot independently enter into a binding purchase contract. Most transactions involving minors are structured through a parent, guardian, or trust to protect everyone involved and ensure the purchase is legally enforceable.

The first thing you should do when thinking about selling your house is speak with a trusted real estate agent before making any major decisions or spending money on repairs. Many homeowners think they need to remodel, paint, stage, or fix everything before calling an agent, but that is not always the best approach. A good real estate advisor can walk through the property, evaluate the condition, review the local market, and help you understand which improvements are actually worth doing, and which may not give you a strong return. So no, you do not need to fully prep the house before talking to a real estate agent. In fact, it is better to consult with an agent first so you can make smart, cost-effective decisions before listing.