Greetings!
Welcome to the first installment of my First Time Homebuyer newsletter series, where I will be sharing market updates, real-life stories, tips and strategies taken from the first-time homebuyers that I have served.
An Introduction: Where Place & Story Converge - LA Story Real Estate
If we haven’t met yet, I want to properly introduce myself. I am Sharon Baum, a real estate agent that proudly serves the NELA neighborhoods of Los Angeles.
I’m originally from South Dakota, where I grew up in a small town called Dell Rapids, a place with a downtown that was built in the late 1800s out of pink quartzite. As a kid, I didn’t just see those old buildings, I wondered about them. Who lived there? For how long? What were their parties like? What was that building before it became what it is now? And before that?
That curiosity never left me. It’s not just that old buildings and homes please me aesthetically (though they absolutely do). They ignite something deeper — a mix of curiosity, imagination, and a general nosiness I was clearly born with. I want to know every incarnation of a place. A CVS that used to be a roller skating rink? Incredible. What was it before that? And so on, and so on.
I got my real estate license in 2012 in Sioux Falls, SD, and it wasn’t until 2020 that I started my own LA story - I moved here in January, just in time to get absolutely throttled by a pandemic. The first couple of years were hard. Really hard. But eventually, I aligned with the right mentor, found my footing, and started building something sustainable and true to who I am.
A few years in, I was able to buy my family’s first home here in Los Angeles, in beautiful Mount Washington — a milestone that made everything feel real in a new way.
I’ve always known I wanted to build a real estate brand that felt honest and personal. I kept coming back to what drives me creatively at my core: real estate rooted in story. Vintage homes. Party houses. Old Hollywood. Storied properties that have lived many lives before us. With that I have launched my brand “LA Story Real Estate” in 2025.
For first-time buyers, my goal is simple — I want to help you usher in the chapter of your LA story that involves owning your first home. As the legendary Rick Dalton said in Once Upon a Time in Hollywood:
“Most important thing in this town is, when you're making money, you buy a house in town. You don't rent.”
A Real First-Time Buyer Win (Three Years in the Making)
I’ve been working with my first-time buyer client, David, for almost three years now — which is a good reminder that buying a home isn’t always about rushing the process. Sometimes it’s about waiting until the right pieces finally line up.
David had a very clear picture of what needed to be true for homeownership to make sense for him. He wanted to stay around $750K or less, needed something move-in ready, and wanted to keep his monthly payment in the $3,500–$4,000 range. He was open to either a condo or a single-family home, but there was one non-negotiable: staying in walkable Silver Lake, where he has been paying an unbelievably low rent for years.
The challenge was obvious. Silver Lake is expensive — and move-in-ready single-family homes at that price point just weren’t realistic.
This week, though, David opened escrow on a condo in prime Silver Lake.
Because the condo market has been softer over the past few years, we were able to get creative with our offer and financing.
The condo was listed at $755K. We sent in an initial offer at $700K. The seller countered at $740K, but instead of walking away, we restructured the deal: David agreed to the price but we asked the seller for $25,000 back, which allowed him to do a 3-2-1 interest rate buydown.
Here’s why that mattered. Even at a solid price, the monthly payment would have blown David's budget by about $500. With the 3-2-1 buydown, his rate starts at 3% the first year, 4% the second, and 5% the third, before returning to the 6% rate he locked in year four. That structure brought his payments back into a range that felt comfortable — and, just as importantly, bought him time.
There’s a very real chance that sometime in the next three years, David will be able to refinance into a lower rate. Until then, he gets to stay in the neighborhood he loves and finally own a home in it.
This is what the process can look like when patience, market timing, and creative problem-solving come together — especially for first-time buyers who are trying to make the numbers work without compromising their lifestyle.
Market Pulse: Why Now Might Be the Moment to Make a Move
You’ve probably been hearing a lot about mortgage rates lately — here’s what it really means for buyers right now.
Mortgage rates on a 30-year fixed loan have recently dipped to their lowest levels in about 3 years, around 6% — a level we haven’t consistently seen since early 2023. These moves have helped unlock some buyer activity after a period where many people stayed on the sidelines waiting for rates to settle.
What This Means for You
Mortgage rates that dipped into the low-6% range is activating buyers who were waiting for a “sweet spot” to jump into the market. Investopedia
Many neighborhoods in NELA are still experiencing price growth year-over-year, especially Echo Park and Atwater Village, though inventory and price ranges vary by area. Redfin+1
If you’re considering buying (especially as a first-timer), this combination of relatively stable rates and diverse options across neighborhoods means there are opportunities — you just need the right strategy to find them.
Whether you’re curious about price ranges in a neighborhood you love, or wondering how far your budget will go with today’s rates, I’d be happy to break that down with you directly.
Until next time - Sharon
