Tuesday, July 30, 2024 / by Vic Markarian
Vic Markarian, recognized as the top real estate agent in Granada Hills, CA, provides valuable insights on the current state of housing affordability. As market conditions evolve, understanding affordability trends is crucial for both buyers and sellers. “Affordability is tight, but there are signs it may improve as the year goes on,” says Markarian. “Staying informed about these changes is essential for making the right decisions.”
One of the critical factors influencing housing affordability is the balance between renting and buying. Recent reports suggest that while renting may seem more affordable in some markets, this perspective often overlooks the benefits of homeownership, such as building equity. “When you buy a home, your monthly payments contribute to your investment, unlike rent, which is just an expense,” explains Markarian. Best real estate agents in Granada Hills, CA, like Markarian and his team at Vic Markarian Reak ...
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Monday, April 15, 2024 / by Vic Markarian
Granada Hills, CA – Navigating the financial aspects of homeownership can often seem daunting, especially when it comes to understanding the difference between equity lines and equity loans. Vic Markarian, a seasoned real estate agent in Granada Hills, CA, with over 34 years of experience, aims to shed light on this topic for homeowners. His expertise not only guides homeowners through the intricacies of leveraging their equity but also ensures they make decisions that are financially sound and aligned with their real estate goals.
“An informed homeowner is an empowered homeowner,” Markarian asserts. “Equity lines, often misunderstood, offer a level of flexibility and potential that is unparalleled. It’s crucial for property owners to grasp the benefits and distinctions of these financial tools to optimize their real estate strategies.” Markarian’s commitment to educating his clients highlights the value of knowledgeable guidance i ...
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Thursday, April 11, 2024 / by Vic Markarian
You may have heard headlines in the news lately about agents in the real estate industry and discussions about their commissions. And if you’re following along, it can be pretty confusing. But here’s the thing you really need to know – expert advice from a trusted real estate agent is priceless, now more than ever. And here’s why.
A real estate agent does a lot more than you may realize.
Your agent is the person who will guide you through every step when buying a home and look out for your best interests along the way. They smooth out a complex process and take away the bulk of the stress of what’s likely your largest purchase ever. And that’s exactly what you want and deserve.
This is at least a part of the reason why a recent survey from Bright MLS found an overwhelming majority of people agree an agent is a key part of the homebuying process (see visual below):
To give you a better idea of just ...
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Thursday, December 14, 2023 / by Vic Markarian
Has your house been sitting on the market a while without selling? If so, you should know that’s pretty unusual, especially right now. That’s because the supply of homes available for sale is still far lower than what we’d see in a normal year. That means buyers have fewer options than they usually would, so your house should be an oasis in an inventory desert.
So, if homebuyers have limited choices and your house still hasn’t sold, there’s a reason why. Let’s break one potential sticking point that may be turning buyers away: your asking price.
Especially with today’s higher mortgage rates already putting a stretch on their budget, buyers are being a bit more sensitive about price. As a recent article from the Wall Street Journal (WSJ) says:
“If you are serious about selling your home now, don’t get greedy with the asking price. This is still a seller’s hom ...
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Thursday, December 14, 2023 / by Vic Markarian
If you’re looking to buy a home, your down payment doesn’t have to be a big hurdle. According to the National Association of Realtors (NAR), 38% of first-time homebuyers find saving for a down payment the most challenging step. But the reality is, you probably don’t need to put down as much as you think:
Data from NAR shows the median down payment hasn’t been over 20% since 2005. In fact, the median down payment for all homebuyers today is only 15%. And it’s even lower for first-time homebuyers at 8%. But just because that’s the median, it doesn’t mean you have to put that much down. Some qualified buyers put down even less.
For example, there are loan types, like FHA loans, with down payments as low as 3.5%, as well as options like VA loans and USDA loans with no down payment requirements for qualified applicants. But let’s focus in on another valuable resource that may be able ...
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