Just west of the San Fernando Valley, and northwest of Santa Monica, Calabasas is a small city that has seen a consistent increase in home values over the past few years. It’s only about a 30-mile drive to both downtown Los Angeles and Santa Monica, and Malibu beach is also less than 20 miles away.
Many Calabasas residents commute to jobs in other cities. It is a beautiful place to live, though, if you want to be near LA without the headache and expenses of living in a big city.
Home Value Overview for Calabasas
In general, home values in Calabasas have risen steadily since 2011. Back then, home values sat around $760,000, but by now they’ve reached a whopping $1.14 million. Recent data shows that the housing market in Calabasas is neutral, with fair conditions for buying a home.
Throughout the next year, home values are expected to fall by a total of 1.5%. Given the consistent increase over the last several years, this market forecast shouldn’t deter anyone from purchasing a home in Calabasas.
Tips for Choosing a Mortgage Company in Calabasas
In today’s market, having a top-notch mortgage lender can have a considerable impact on the loan that you receive for your home and the conditions which come with it. The quality of the knowledge, effort, and expertise of the mortgage company that you choose are crucial factors to consider, so this is a decision which you should take very seriously.
Mortgage brokers have access to many lenders at the wholesale level that offers lower rates then than banks which is a huge benefit to the consumer.
Here are some qualities to look for when deciding on a mortgage company:
- Go local—mortgage companies that advertise in your target city have the edge over those who operate remotely, without even mentioning their name on the website. These local companies will know the domestic market and work well for you.
- Check their track record— doing your research is one of the first steps that you should take when choosing a mortgage lender. Feedback from previous clients can provide a wealth of information, for example. See what you can find out about those customers’ experiences and overall satisfaction to gauge whether a given lender can deliver exceptional results.
- Your lender should be interested in your needs as a buyer—your mortgage company should take a personal interest in your case. The more effort they put into understanding your wants and needs, the more likely it is that they can create a satisfactory home loan solution for you.
Conclusion
Calabasas is perfectly situated for daily commutes to several cities in the greater Los Angeles area. The housing market here has had a history of growth over the past several years. If you plan to purchase a home in Calabasas any time soon, be sure to compare rates of different mortgage brokers before committing to a specific one.
A bit of research and asking the right questions will have you on your way towards finding a great lender who can help you acquire your dream home.