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Housing

Why Do I Need a Realtor If MLS Does the Work?

LC Admin - 0
So you're looking for a new home as a first-time buyer, downsizer, or up-sizer. You've considered new construction, active adult community living, country clubs with all the bells and whistles, and multi-acre ranches. Your real estate searches include multifamily, freestanding houses in open...
First Time Home Buyer

Want to Buy a New Home in 2025? A Step-by-Step Guide to Have You in Your New Home by Year’s End

LC Admin - 0
Tired of throwing away your money on rent? Outgrown your current home? It is time to buy a new home. Before you say that you can’t afford it or you don’t have the time, take a minute to read this– a step-by-step plan...
Finance

Understanding Closing Costs: A Complete Breakdown for Buyers and Sellers

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Whether buying or selling a home or simply refinancing your existing mortgage, it is critical to understand the closing costs of this often complicated transaction. Some closing costs can be negotiated between buyers and sellers. You can shop around for some services required...
Finance

Unlocking Supplemental Property Taxes in California for First-Time Buyers

LC Admin - 0
Welcome to the nation’s most expensive market, where $800,000+ gets you the average. As of November 2024, Redfin reported the average median home price up 4% from $827,100 to $827,100.  Life’s most significant expense tends to be taxes. If you’re purchasing a home...
Finance

Adjustable-Rate Versus Fixed-Rate Mortgages: Risks and Rewards

LC Admin - 0
In a high-rate mortgage environment like the one we’re currently experiencing, it can be very tempting to choose an adjustable-rate mortgage (ARM) loan instead of a fixed-rate mortgage loan. The hope is that you get a slightly lower rate for the short term,...
Housing

Is the Worst House in the Best Area Right for My Family?

LC Admin - 0
"Look for the worst house in the best area!" Real estate economists scream it from their virtual "rooftops" at every opportunity, and realtors back them up, telling their homebuyers daily, "Location, location, location, that's all that counts!" Guaranteed, if you're searching for a...
Finance

What to Know Before Buying Your First Home in California

LC Admin - 0
California Dreaming, are we? The challenge is real when faced with the obstacle of purchasing your first home in the nation’s most expensive housing market—a $ 829,700 sticker price on an average median home price in the Golden State. The coastal living of...
Living

9 Reasons Why Irvine, CA, Is a Great Family-Friendly City to Raise a Family

LC Admin - 0
Nestled in the heart of sunny Southern California, Irvine has earned a reputation as one of the best cities in the United States to raise a family. Not only has Irvine been my home for the better part of the last three decades,...
Moving

Top 11 Destinations Californians Are Moving to for a More Affordable Life

LC Admin - 0
California has long been synonymous with dreams of opportunity, sunshine, and success. However, in recent years, an increasing number of Californians have decided to throw in the towel and leave the Golden State, opting to sell their high-value homes and move to more...
Finance

9 Ways to Pay Off Debt and Buy Your First Home

LC Admin - 0
So, you want to buy your first home, however, you have some debt that feels like an immovable mountain standing between you and your dream. Whether it’s credit card balances, student loans, or car payments, that looming debt can make homeownership seem out...
Finance

Understanding Inflation: Its Impact on Everyday Life and the Housing Market

LC Admin - 0
As we prepare to welcome 2025, the term "inflation" has become increasingly familiar, dominating headlines and conversations over the past several years. While many people understand inflation as rising prices, fewer grasp how deeply it can influence major aspects of life—particularly the housing...
Finance

Will Mortgage Rates Ever Drop to 3% Again?

LC Admin - 0
It wasn’t so long ago that homebuyers could lock in jaw-droppingly low mortgage rates—some as low as 3%. For those lucky enough to secure such a deal, it felt like winning the housing lottery. These historically low rates made homeownership more accessible, slashing...
First Time Home Buyer

How to Save for Your First Home in California

LC Admin - 0
Saving for your first home is a big deal, especially in a state like California, where the housing market is as competitive as it is expensive. I’ve called California home since 1997, and I can tell you there is so much to enjoy...
First Time Home Buyer

Your Guide to Buying Your First Home in Irvine, CA: Tips and Insights

LC Admin - 0
Buying your first home is a big deal! It’s exciting, maybe a little nerve-wracking, but ultimately rewarding. And if you’re looking at Irvine, CA, as your new home base, you’re already on the right track. Known for its top-notch schools, safe neighborhoods, and...
Finance

Renting vs. Buying a House in California: What’s Right for You?

LC Admin - 0
Deciding between renting and buying a home in California can feel like picking the lesser of two evils—like choosing between braving Los Angeles traffic during lunch or finding parking in San Francisco during a holiday weekend. It’s a tough call with high stakes,...
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First Time Home Buyer

earnest money deposit

What Is an Earnest Money Deposit? A First-Time Homebuyer’s Guide

sean - 0
Buying your first home is exciting—but let’s be honest, it can also feel a little overwhelming. Between pre-approvals, inspections, contracts, and negotiations, there’s a...
first time homebuyer

A First-Time Homebuyer’s Guide to Programs That Can Help You Get...

sean - 0
Buying your first home is one of the most exciting milestones in life, but it can also feel overwhelming. With home prices on the...

What is the Difference Between a Buyer’s Market and a Seller’s...

Don’t Get Caught in the Flames: First-time Homeowner’s Guide to Wildfires...

How Much Do You Really Need for a Mortgage Down Payment?

How to Make an Offer on a House (That Will Be...

RECENT VIDEO

Buying your first home? Don’t risk losing your deposit! In this episode of Two-Minute Tuesday, I’m breaking down what an Earnest Money Deposit is, why it’s such a big deal in the home buying process, and how first-time buyers like Sarah have LOST thousands by not understanding the rules. 😬 Whether you’re just starting your real estate journey or deep into making offers, this is one video you can’t afford to skip. What You’ll Learn: What an Earnest Money Deposit actually is How it protects both the buyer and seller What happens to your money if the deal falls apart A real-world example of how a buyer lost $5,000 Don’t get blindsided—protect your deposit and make smarter offers. Timestamps: 0:00 – Purpose of the Video 0:28 – What Is an Earnest Money Deposit? 0:42 – Why Earnest Money Matters in Real Estate 1:18 – How the Deposit Is Handled (Escrow) 1:41 – What Happens to Your Deposit After Closing 1:46 – When You Might Lose Your Earnest Money 2:02 – Real-Life Example: How Sarah Lost Her Deposit 2:45 – Importance of Contract Contingencies 3:10 – Why Earnest Money Strengthens Your Offer 3:33 – Final Tips for Handling Earnest Money 4:26 – How to Contact the Agent and Ask Questions Let’s chat: Alex Schult CA DRE License # 02236174 KW Spectrum Properties 📲 Text: 949-726-2601 📧 Email: aschult@kw.com 👍 Like this video if you found it helpful 🔔 Subscribe for more quick real estate tips every Tuesday 💬 Drop your questions in the comments—I'm here to help! #EarnestMoneyDeposit #HomeBuyerTips #HomeBuyingProcess #RealEstateMistakes 🎥 More videos you’ll find helpful: The Best & Worst States for Affordable Housing in 2025 (Full Breakdown) https://www.youtube.com/watch?v=jHy2wAiGHYw How Does Escrow Work? What is Escrow? https://www.youtube.com/watch?v=EOPvR9F2DlY DISCLAIMER: This video content is intended for informational, educational, and entertainment purposes only. Neither Living in California nor Alex Schult is a registered financial advisor, attorney, or tax professional. While we have taken reasonable steps to ensure the accuracy of the information presented in this video, we cannot guarantee that it is free from errors or omissions. Any reliance you place on the information provided is strictly at your own risk. Additionally, your use of the Living in California YouTube channel and any communication through this platform, including but not limited to YouTube comments, emails, or messages, does not establish a formal business relationship with Alex Schult or Living in California. For specific advice related to your real estate, financial, or legal needs, we recommend consulting with a licensed professional in the relevant field.

Buying your first home? Don’t risk losing your deposit!
In this episode of Two-Minute Tuesday, I’m breaking down what an Earnest Money Deposit is, why it’s such a big deal in the home buying process, and how first-time buyers like Sarah have LOST thousands by not understanding the rules. 😬

Whether you’re just starting your real estate journey or deep into making offers, this is one video you can’t afford to skip.

What You’ll Learn:

What an Earnest Money Deposit actually is
How it protects both the buyer and seller
What happens to your money if the deal falls apart
A real-world example of how a buyer lost $5,000
Don’t get blindsided—protect your deposit and make smarter offers.

Timestamps:
0:00 – Purpose of the Video
0:28 – What Is an Earnest Money Deposit?
0:42 – Why Earnest Money Matters in Real Estate
1:18 – How the Deposit Is Handled (Escrow)
1:41 – What Happens to Your Deposit After Closing
1:46 – When You Might Lose Your Earnest Money
2:02 – Real-Life Example: How Sarah Lost Her Deposit
2:45 – Importance of Contract Contingencies
3:10 – Why Earnest Money Strengthens Your Offer
3:33 – Final Tips for Handling Earnest Money
4:26 – How to Contact the Agent and Ask Questions

Let’s chat: Alex Schult CA DRE License # 02236174 KW Spectrum Properties 📲 Text: 949-726-2601 📧 Email: aschult@kw.com

👍 Like this video if you found it helpful
🔔 Subscribe for more quick real estate tips every Tuesday
💬 Drop your questions in the comments—I'm here to help!

#EarnestMoneyDeposit #HomeBuyerTips #HomeBuyingProcess #RealEstateMistakes

🎥 More videos you’ll find helpful:

The Best & Worst States for Affordable Housing in 2025 (Full Breakdown)
https://www.youtube.com/watch?v=jHy2wAiGHYw

How Does Escrow Work? What is Escrow?
https://www.youtube.com/watch?v=EOPvR9F2DlY

DISCLAIMER: This video content is intended for informational, educational, and entertainment purposes only. Neither Living in California nor Alex Schult is a registered financial advisor, attorney, or tax professional. While we have taken reasonable steps to ensure the accuracy of the information presented in this video, we cannot guarantee that it is free from errors or omissions. Any reliance you place on the information provided is strictly at your own risk. Additionally, your use of the Living in California YouTube channel and any communication through this platform, including but not limited to YouTube comments, emails, or messages, does not establish a formal business relationship with Alex Schult or Living in California. For specific advice related to your real estate, financial, or legal needs, we recommend consulting with a licensed professional in the relevant field.

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YouTube Video VVVRbjFhblZiLWZpNU9UYzdVMVR6QVZ3LlRWeWtra2p2VHZj

Earnest Money Deposit Explained: She Lost $5,000 Backing Out of the Deal

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