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For Sellers | The Markarian Realty Guide Blog

Thursday, April 18, 2024   /   by Vic Markarian

Is It Better To Rent Than Buy a Home Right Now?

You may have seen reports in the news recently saying it’s more affordable to rent right now than it is to buy a home. And while that may be true in some markets if you just look at typical monthly payments, there’s one thing that the numbers aren’t factoring in: and that’s home equity. Here’s a look at how big of an impact equity can have and why it’s worth considering as you make your decision.
What the Headlines Are Based on
The graph below uses national data on the median rental payment from Realtor.com and median mortgage payment from the National Association of Realtors (NAR) to compare the two options. As the graph shows, especially if you’re not looking for a lot of space, it can be more affordable on a monthly basis to rent:
 
But if you’re looking for something with 2 bedrooms, the gap between the median rent and the median mortgage payment starts to shrink to a differ ...

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Monday, April 15, 2024   /   by Vic Markarian

Confused about using your home for a loan? Granada Hills Realtor explains it simply!

Buying a house is a big deal, and figuring out money stuff can be confusing. This article is here to help, especially for people in Granada Hills, California.
Vic Markarian, a local real estate expert, wants to make things easier for you. He says understanding the difference between equity lines and equity loans is important. These are basically ways to use the value of your house to get money.
Equity line: Imagine a credit card for your house. You can borrow money as you need it, up to a certain amount. It's flexible, but the interest rate can change.

Equity loan: This is like a regular loan. You get a lump sum of money upfront, and you pay it back with a fixed monthly payment and interest rate.

Which one is right for you? It depends!
Equity line: Good if you need money over time, like for repairs or improvements.

Equity loan: Good if you know exactly how much money you need, like for a big bill or a new home.

Vic helps people make smart financial decisions about thei ...

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Thursday, April 4, 2024   /   by Vic Markarian

Boomers Moving Will Be More Like a Gentle Tide Than a Tsunami

Have you heard the term “Silver Tsunami” getting tossed around recently? If so, here’s what you really need to know. That phrase refers to the idea that a lot of baby boomers are going to move or downsize all at once. And the fear is that a sudden influx of homes for sale would have a big impact on housing. That’s because it would create a whole lot more competition for smaller homes and would throw off the balance of supply and demand, which ultimately would impact home prices.
But here’s the thing. There are a couple of faults in that logic. Let’s break them down and put your mind at ease.
Not All Baby Boomers Plan To Move
For starters, plenty of baby boomers don’t plan on moving at all. A study from the AARP says more than half of adults aged 65 and older want to stay in their homes and not move as they age (see graph below):

While it’s true circumstances may change and some people who don&rsq ...

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Wednesday, March 13, 2024   /   by Vic Markarian

Your Home Is a Powerful Investment

Going into 2023, there was a lot of talk about a possible recession that would cause the housing market to crash. Some in the media were even forecasting home prices would drop by as much as 10-20%—and that might have made you feel a bit unsure about buying a home.
But here’s what actually happened: home prices went up more than usual. Brian D. Luke, Head of Commodities at S&P Dow Jones Indices, explains:
“Looking back at the year, 2023 appears to have exceeded average annual home price gains over the past 35 years.”
To put last year’s growth into context, the graph below uses data from Freddie Mac on how home prices have changed each year going back to 1980. The dotted line shows the long-term average for appreciation:
 
The big takeaway? Home prices almost always go up.
As an article from Forbes says:
“. . . the U.S. real estate market has a long and reliable hi ...

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Thursday, March 7, 2024   /   by Vic Markarian

The Benefits of Downsizing When You Retire

If you’re taking a look at your expenses as you retire, saving money where you can has a lot of appeal. One long-standing, popular way to do that is by downsizing to a smaller home.
When you think about cutting down on your spending, odds are you think of frequent purchases, like groceries and other goods. But when you downsize your house, you often end up downsizing the bills that come with it, like your mortgage payment, energy costs, and maintenance requirements. Realtor.com shares:
“A smaller home typically means lower bills and less upkeep. Then there’s the potential windfall that comes from selling your larger home and buying something smaller.”
That windfall is thanks to your home equity. If you’ve been in your house for a while, odds are you’ve built up a considerable amount of equity. And that equity is something you can use to help you buy a home that better fits your needs today. Daniel Hunt, CFA at Morga ...

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Markarian Realty Group
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Based on information from California Regional Multiple Listing Service, Inc. as of April 24, 2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
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