Thursday, October 31, 2024 / by Vic Markarian
No one likes making mistakes, especially when they happen in what’s likely the biggest transaction of your life – buying a home.
That’s why partnering with a trusted agent is so important. Here’s a sneak peek at the most common missteps buyers are making in today’s market and how a great agent will help you steer clear of each one.
Trying To Time the Market
Many buyers are trying to time the market by waiting for home prices or mortgage rates to drop. This can be a really risky strategy because there’s so much at play that can have an impact on those things. As Elijah de la Campa, Senior Economist at Redfin, says:
“My advice for buyers is don’t try to time the market. There are ?a lot of swing factors, like the upcoming jobs report and the presidential election, that could cause the housing market to take unexpected twists and turns. If you find a house you love and can afford to buy it ...
Read More
vic markarian realty team, home buying process, home prices, home buying, buyer's market, homeownership, for buyers, buying a home, buyer tips 2024, first time home buyers, homeowner tips 2024, rent vs. buy, tips to buy a house, buying myths, avoid these top homebuyer mistakes in today’s market
Thursday, October 10, 2024 / by Vic Markarian
If you’re toying with the idea of selling your house, you’re probably wondering how much it’ll cost. To be honest, the final number will depend on several factors like the offer you accept, if you help with your buyer’s closing costs, how many repairs you tackle, and more.
So, to give you a ballpark of what to expect, here’s some information on a few of the expenses you’ll want to be ready for (see graph below):
But here’s something that puts those costs into perspective. Most homeowners today have a substantial amount of equity built up in their homes, and that means they stand to make significant gains when they sell. Chances are, you do too. This can help quickly recoup these selling costs. You may even have enough equity leftover to put some toward your next home purchase too.
Let’s dive into a few of the costs from the graph above, so you have a bit more context on what they include and where you may be able k ...
Read More
home buyer, home buying process, home prices, home buying, competitiveness, buyer's market, homeownership, buying a home, buyer tips 2024, seller update 2024, housing market updates, home seller tips 2024, how much does it cost to sell my house?
Wednesday, October 2, 2024 / by Vic Markarian
After months of sitting on the sidelines, many homebuyers who were priced out by high mortgage rates and affordability challenges finally have an opportunity to make their move. With rates trending down, today’s market is a sweet spot for buyers—and it’s one that may not last long.
So, if you’ve put your own move on the back burner, here’s why maybe you shouldn’t delay your plans any longer.
As you weigh your options and decide if you should buy now or wait, ask yourself this: What do you think everyone else is going to do?
The truth is, if mortgage rates continue to ease, as experts project, more buyers will jump back into the market. A survey from Bankrate shows over half of homeowners would be motivated to buy this year if rates drop below 6% (see graph below):
With rates already in the low 6% range, we’re not terribly far off from hitting that threshold. The bottom line is, that when they dk ...
Read More
home buyer, real estate tips, home buying process, home buying, homeownership, glendale, for buyers, buying a home, first time home buyers, buyer tips 2024, real estate market 2024, homeowner tips 2024, rent vs. buy, tips to buy a house, this is the sweet spot homebuyers have been waiting for
Thursday, September 26, 2024 / by Vic Markarian
When it’s time to buy or sell a home, one of the most important decisions you’ll make is who you’ll work with as your agent. That choice will have an impact on your entire experience and how smoothly it goes.
As you figure out who you’ll partner with, it’s important to know what to expect and what to look for. Unfortunately, there may be some myths holding you back from making the best decision possible. So, let’s take some time to address those, and make sure you have the information you need to find the right agent for you.
Myth #1: All Real Estate Agents Are the Same
You might think all agents are the same – so it doesn’t matter who you work with. But, in reality, agents have varying levels of experience, specialties, and market knowledge, which can have a big impact on your results. For example: you'll get much better service and advice from someone who is a true expert in their field. As Businek ...
Read More
home buyer, home prices, home buying, homeownership, los angeles, real estate expertise, glendale, for buyers, first time home buyers, buyer tips 2024, real estate market 2024, buying myths, don’t fall for these real estate agent myths
Thursday, September 26, 2024 / by Vic Markarian
Should you buy a home now or should you wait? That’s a question a lot of people have these days. And while what’s right for you is going to depend on a lot of different factors, here’s something you’ll want to consider as you make your decision.
As soon as you buy, you’ll start gaining equity. And you’d be surprised how quickly that can add up – even with more moderate home price appreciation.
Each quarter, Fannie Mae releases the Home Price Expectations Survey. It asks over one hundred economists, real estate experts, and investment and market strategists what they forecast for home prices over the next five years. In the latest release, experts project prices will continue to rise nationally through at least 2028 (see the graph below):
While home prices are going to vary from one local area to the next, this shows they’re expected to keep going up nationally. The size of the increase varies from year-tk ...
Read More
home buyer, home buying process, home prices, home buying, competitiveness, buyer's market, homeownership, los angeles, glendale, mortgage rates, buying a home, first time home buyers, buyer tips 2024, homeowner tips 2024, rent vs. buy, tips to buy a house, home equity 2024, move-up buyers, buying myths, why buying now may be worth it in the long run