I’ll share key market updates and a new loan program that allows homebuyers to get a $831K loan with no down payment.

Spring is here, and with it comes exciting real estate news for homebuyers! A brand-new loan program has just launched, offering up to $831,000 with no money down—plus assistance for closing costs. If saving for a down payment has been holding you back, this could be the opportunity you’ve been waiting for!

With rising home prices and interest rates beginning to trend downward, now is a strategic time to buy before affordability shifts again. Let’s break down what’s happening in the Burbank, Glendale, and North Hollywood markets by comparing February 2024 to February 2025:

• Home sales have gone down 5% from 82 last year to 78 this year. While sales have dipped slightly, keep in mind that February had one less day this year, which impacts the total number of closed transactions. The demand for homes in these sought-after areas remains strong.

“Now is a unique moment in the market that favors buyers ready to take action.”

• Average sales price has gone up 6% from $1,195,000 to $1,268,000. This increase in home values reflects steady appreciation, signaling that real estate continues to be a solid long-term investment. Buyers who lock in their purchase now can benefit from future equity growth.

• Interest rates went down 4% from 6.885% to 6.600%. Lower interest rates mean more buying power and smaller monthly payments. If this downward trend continues, buyers may see even better affordability in the coming months.

What does this mean for buyers? This new no-money-down loan opens the door to homeownership for many who previously thought it was out of reach. Combined with falling interest rates and rising home values, it’s a unique moment in the market that favors buyers ready to take action.

If you’ve been thinking about buying a home, now is the time to explore your options before competition increases. Whether you want to learn more about this game-changing loan program or get insights into how these market trends impact your buying power, I’m here to help! Just call me at 818-953-5300 or send an email to brad@bradkorb.com to discuss your next steps. I look forward to hearing from you.