Thursday, November 14, 2024 / by Vic Markarian
Granada Hills, CA – For over three decades, Vic Markarian has dedicated his career to transforming the lives of countless renters into proud homeowners. Drawing from personal experience, Vic recalls a pivotal moment from his childhood. “I remember my mom saying we were wasting our money on rent,” he says. This lesson inspired him to help others avoid the same fate.
In a market where annual rent increases are the norm, many renters unknowingly funnel hundreds of thousands of dollars into their landlords’ pockets over a decade. Vic emphasizes the advantages of homeownership: “When you purchase a property, you secure a fixed monthly payment for 10 or 30 years. Not only that, but you can also enjoy potential yearly tax deductions, and every monthly payment contributes to building equity.” As a top real estate agent in Granada Hills, CA, Vic makes sure his clients understand this crucial aspect.
Many families are unaware that owning a multi- ...
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Thursday, October 24, 2024 / by Vic Markarian
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 ...
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Sunday, October 20, 2024 / by Vic Markarian
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Vic Markarian, leveraging over three decades of real estate expertise, continues to redefine the property market in Granada Hills through his innovative approaches at Markarian Realty. Recognized as a top Realtor in Granada Hills, CA, Vic has crafted a unique sales methodology that emphasizes swift, client-oriented results, setting benchmarks in a competitive industry.
“Real estate goes beyond mere transactions; it’s about crafting outcomes that resonate with our clients’ dreams and financial aspirations,” says Vic. His focus on client satisfaction and strategic market positioning ensures properties are not just sold, but are sold quickly and at premium values. This approach is particularly vital in the brisk Granada Hills market, where Vic’s adeptness at navigating fluctuating conditions plays a critical role in his clients’ success.
Markarian Realty is renowned for its team sales system, a distinctive strategy that ak ...
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Thursday, October 17, 2024 / by Vic Markarian
Homeowners typically slow down their moving plans as the summer months wrap up, and as a result, fewer homes are listed for sale in the fall. It’s a predictable, seasonal trend in real estate. But this year, mortgage rates came down at the same time the number of homes on the market usually starts to decline. So, what happened? More homeowners decided to sell, so more homes came to the market.
The most recent data from Realtor.com reveals that in September, the number of homes put up for sale increased by 11.6% compared to this time last year.
As the green circle in the graph below shows, the typical September decline in homes coming to the market didn’t happen – that number actually went up (see graph below):
Ralph McLaughlin, Senior Economist at Realtor.com, explains why there was an unseasonable rise:
“This sharp increase is largely due to the decline in mortgage rates in mid-August, enticing homeowners to sell.”k ...
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Thursday, October 10, 2024 / by Vic Markarian
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 ...
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