Down Payment Assistance Isn’t a Last Resort, It’s a Smart Financial Strategy

Making homeownership accessible to more people starts with adding to the nation’s severely limited inventory. The U.S. is facing an underbuilding gap of 5.5 million units, equaling a $4.4 trillion underinvestment in housing. America’s tax law can and must do more to promote homeownership , build stable communities, and boost economic growth. NAR is advocating for these bills and solutions : The More Homes on the Market Act (H.R. 1340) to decrease the equity penalty and incentivize more long-term owners to sell their homes. The Neighborhood Homes Investment Act (H.R. 2854) , which would attract private investment to build and rehabilitate owner-occupied homes. The Affordable Housing Credit Improvement Act (S. 1515/H.R. 2725) , which would encourage creating and preserving affordable housing. The Housing Supply Framework Act (H.R.2840/ S.1299) to create a national strategy for boosting housing production and affordability by reducing barriers to new housing development. The Revitalizing Downtowns and Main Streets Act (H.R. 2410) to convert underused commercial properties into residential and mixed-use housing. The Uplifting First-Time Homebuyers Act (H.R. 3526) to increase the amount that can be withdrawn penalty-free from IRAs for a down payment on a first home. Support small business by preserving the 199A qualified business income deduction and keeping taxes on business income lower for independent contractors and pass-through business owners. Support commercial real estate investment by preserving 1031 like-kind exchanges . Incentivize homeownership by increasing the cap on the state and local tax (SALT) deduction and eliminating the marriage penalty. NAR is also advocating to ensure equal access to professional representation and support fair housing . Priorities include: The Fair and Equal Housing Act to add sexual orientation and gender identity as protected classes under the Fair Housing Act. Ensuring veterans maintain access to professional representation and can compete in the market by allowing VA buyers to compensate their professional representative directly . Serving as a founding member of the Black Homeownership Collaborative and supporting the 3by30 initiative, with the goal of adding three million net new Black homeowners by 2030. Ready to explore your path to homeownership? Let's talk about what today's market — and tomorrow's legislation — means for you. Click schedule time to discuss with Kama Burton, Broker-Owner . Source: https://www.nar.realtor/june-is-national-homeownership-month/what-nar-is-doing-to-increase-homeownership-opportunities

The Riverside real estate market has shifted, and one recent transaction reminded me just how important strategy, communication, and understanding the contract truly are. After 232 days on the market, 2321 Gonzaga Lane in Riverside officially closed at $380,000.  This 3-bedroom, 2-bath condo had great potential, but it also needed TLC. In today’s Inland Empire housing market, buyers are paying close attention to property condition, and homes needing repairs are often taking longer to sell. As a Moreno Valley REALTOR® and Broker-Owner of CMB Realty Services, this transaction taught me valuable lessons that both buyers and sellers need to understand when navigating California escrow and inspection negotiations. Why This Riverside Condo Sat on the Market for 232 Days The truth is simple: condition matters. While this condo had a great layout, location, and opportunity for first-time buyers or investors, buyers today want homes that feel move-in ready. During the time this property sat on the market, I watched other homes in Riverside and the Inland Empire sell much faster because they showed better and required fewer repairs. That’s the reality of today’s market. Buyers are more cautious. Interest rates matter. Repair costs matter. And homes needing updates are often facing longer market times and stronger negotiations. This experience reminded me how important it is to properly prepare a home before listing it for sale. The Inspection Negotiations Got Complicated Once we entered escrow, the buyers conducted inspections immediately, which is completely normal during the inspection contingency period. However, things became more complicated when the buyers requested: a $20,000 price reduction, plus an additional $7,500 repair credit, before the appraisal had even been ordered. That immediately raised concerns for me as the listing broker. What made this transaction unique was that the lender shared they typically advise buyers not to order the appraisal until the seller agrees to inspection requests first. While every lender and transaction may operate differently, this approach can create risk for sellers. The Risk of Negotiating Repairs Before the Appraisal In California real estate transactions, buyers are given contingency periods for a reason. The contingency period allows buyers time to: conduct inspections, review disclosures, investigate the property condition, complete loan approval, and order the appraisal. At the same time, sellers are taking their property off the market and placing trust in the escrow process. The challenge with negotiating large repair credits before the appraisal is this: What happens if: the property appraises low? the appraiser requires repairs? the lender adds additional conditions? or the buyer attempts to renegotiate again later? At that point, the seller may already feel locked into the transaction while losing valuable market time. This is why understanding the contract and timing matters so much during escrow. How This Changed My Approach as a Listing Broker Every transaction teaches us something. After this experience, I am adjusting how I handle inspection negotiations moving forward. Going forward, I will strongly recommend countering offers with language similar to: “Seller will review repair requests once all buyer inspections have been completed.” This creates a more balanced process for both buyers and sellers while still protecting the buyer’s right to fully investigate the property during their contingency period. Real estate negotiations should be fair for everyone involved. What Buyers Need to Understand About California Escrow Many buyers focus heavily on inspections, but it’s equally important to understand how inspections, appraisals, contingencies, and lender requirements all work together. Sometimes buyers, agents, or lenders create their own process instead of fully following the structure already outlined in the contract. That can create confusion, delays, and unnecessary tension during escrow. Having a REALTOR® who properly explains the contract, contingency timelines, and negotiation strategy is critical — especially in today’s Riverside and Inland Empire real estate market. The Bigger Lesson for Sellers If your home needs repairs or updates, preparation matters more than ever. Homes that are clean, updated, well-priced, and move-in ready are still selling quickly throughout Riverside, Moreno Valley, and the Inland Empire. The longer a home sits on the market: the more leverage buyers may feel they have, the more questions buyers begin asking, and the harder negotiations can sometimes become. This transaction reinforced something I already believed: Proper preparation before listing can save sellers time, stress, and money later. Thinking About Selling Your Home in Riverside or Moreno Valley? Before you list your home, let’s discuss a strategy that positions your property to attract serious buyers and stronger offers from the beginning. At CMB Realty Services, we believe in educating our clients, preparing homes properly, and helping sellers navigate inspections, appraisals, negotiations, and escrow with confidence. Whether your home needs minor updates or major preparation, having the right strategy matters. 📍 Serving Moreno Valley, Riverside, and the Inland Empire 📞 Kama Burton | Broker-Owner, CMB Realty Services 💜 “Making Real Estate Dreams Reality”