If you need assistance, please call 818-248-8668

Home Equity 2024 | The Markarian Realty Guide Blog

Thursday, December 19, 2024   /   by Vic Markarian

The Biggest Perks of Buying a Home This Winter

Waiting for perfect market conditions often means missing out. Because what you may not realize is, if you’re ready and able to buy, this time of year could actually give you an edge. Here’s why. As the weather cools down, the housing market can too – and that works in your favor.
You Likely Won’t Feel as Rushed
Homes tend to take a little longer to sell during this time of year. Data from the National Association of Realtors (NAR) shows the average time a house sits on the market jumps up during the winter months (see the green bars in the graph below):
This is partly because fewer buyers are active at this time of year – and that decrease in buyer competition means the houses that are on the market aren’t going to be snatched up as quickly. So, if you decide to buy a home in the next couple of months, you’ll likely have more time to consider your options and negotiate a deal without feeling as pressured.
Sellers May k ...

  home buyer, home buying process, home prices, homeownership, buying a home, buyer tips 2024, real estate market 2024, homeowner tips 2024, home equity 2024, real estate tips 2025, real estate advice for 2025, real estate trends 2025, 2025 housing market, buyer tips 2025, real estate market trends 2025, the biggest perks of buying a home this winter

Thursday, November 7, 2024   /   by Vic Markarian

Renting vs. Buying: The Net Worth Gap You Need To See

Trying to decide between renting or buying a home? One key factor that could help you choose is just how much homeownership can grow your net worth.
Every three years, the Federal Reserve Board shares a report called the Survey of Consumer Finances (SCF). It shows how much wealth homeowners and renters have – and the difference is significant.
On average, a homeowner’s net worth is nearly 40 times higher than a renter’s. Check out the graph below to see the difference for yourself:
Why Homeowner Wealth Is So High
In the previous version of that report, the average homeowner’s net worth was about $255,000, while the average renter’s was just $6,300. That’s still a big gap. But in the most recent update, the spread got even bigger as homeowner wealth grew even more (see graph below):
As the SCF report says:
“. . . the 2019-2022 growth in median net worth was the largest three-year increase over the histo ...

  home buyer, home prices, home buying, buyer's market, homeownership, los angeles, glendale, buying a home, buyer tips 2024, first time home buyers, real estate market 2024, homeowner tips 2024, rent vs. buy, home equity 2024, move-up buyers, buying myths, housing market updates, glendale real estate agent, homebuying, renting vs. buying, the net worth gap you need to see

Thursday, October 24, 2024   /   by Vic Markarian

Why Today’s Foreclosure Numbers Won’t Trigger a Crash

With everything feeling more expensive these days, it’s natural to worry about how rising costs might impact the housing market. Many people are concerned that high prices and tighter budgets could cause more homeowners to fall behind on their mortgage payments, leading to a wave of foreclosures.
But before you start worrying about a housing market crash, here’s a look at what’s really happening. And the good news is: the latest foreclosure data shows there’s no wave on the horizon.
How Today’s Market Is Different from 2008
Let’s ease those fears by looking at the bigger picture. The graph below uses research from ATTOM, a property data provider, to show that the number of homeowners starting the foreclosure process is nowhere near what we saw coming out of 2008. Back then, there was a big spike in how many foreclosures were happening. Today, the number is much lower – it's even dropped some in the latest repok ...

  home seller, competitiveness, market value, homeownership, los angeles, pricing strategy, glendale, real estate expertise, buyer tips 2024, real estate market 2024, homeowner tips 2024, mortgage 2024, seller update 2024, home equity 2024, why today’s foreclosure numbers won’t trigger a crash

Thursday, October 10, 2024   /   by Vic Markarian

Two Reasons Why the Housing Market Won’t Crash

You may have heard chatter recently about the economy and talk about a possible recession. It's no surprise that kind of noise gets some people worried about a housing market crash. Maybe you’re one of them. But here’s the good news – there’s no need to panic. The housing market is not set up for a crash right now.
Real estate journalist Michele Lerner says:
“A housing market crash happens when home values plummet due to a lack of demand for homes or an oversupply.”
With that definition in mind, here are two reasons why this just isn’t on the horizon.
1. Demand for Homes Is Higher than Supply
One of the biggest reasons the housing market crashed back in 2008 was an oversupply of homes. Today, though, it’s a very different story.
It’s a general rule of thumb that a market where supply and demand are balanced has a six-month supply of homes. A higher number means supply outpaces demand, and a lower number means k ...

  home seller, selling homes, competitiveness, market value, los angeles, pricing strategy, glendale, real estate market 2024, for sellers, seller update 2024, home equity 2024, selling myths, two reasons why the housing market won’t crash

Thursday, September 26, 2024   /   by Vic Markarian

Why Buying Now May Be Worth It in the Long Run

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 ...

  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

Markarian Realty Group
3237 N. Verdugo Rd.
Glendale,, CA 91208
818-248-8668
DRE# CalBRE# 01059771

Based on information from California Regional Multiple Listing Service, Inc. as of February 10, 2025. 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.
This site powered by CINC: www.cincpro.com