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Real Estate Expertise | Markarian Realty Blog

Thursday, November 23, 2023   /   by Vic Markarian

Home Prices Still Growing – Just at a More Normal Pace

If you’re feeling a bit muddy on what’s happening with home prices, that’s no surprise. Some people are still saying prices are falling, even though data proves otherwise. Part of that misconception is because people are getting their information from unreliable sources. But it’s also coming from some media coverage misrepresenting what the data really shows.
So, to keep things simple, here’s what you really need to know using real data you can trust.
Normal Home Price Seasonality Explained
In the housing market, there are predictable ebbs and flows that happen each year. It’s called seasonality. Spring is the peak homebuying season when the market is most active. That activity is typically still strong in the summer but begins to wane as the cooler months approach.
Home prices follow along with seasonality because prices appreciate most when something is in high demand. That’s why there’s a reliable long-term ho ...

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Thursday, November 9, 2023   /   by Vic Markarian

Homeowner Net Worth Has Skyrocketed

If you’re weighing your options to decide whether it makes more sense to rent or buy a home today, here’s one key data point that could help you feel more confident in making your decision. Every three years, the Federal Reserve Board releases the Survey of Consumer Finances (SCF). That report covers the difference in net worth for both homeowners and renters. Spoiler alert: the gap between the two is significant.
The average homeowner’s net worth is almost 40X greater than a renter’s. And here’s the data to prove it (see graph below):

The Big Reason Homeowner Net Worth Is So High
In the previous version of that report, the net worth of the average homeowner was roughly $255,000 and that of the average renter was $6,300. But in the release that just came out this year, the gap widened as homeowner net worth climbed dramatically. As the Survey of Consumer Finances (SCF) report says ...

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Thursday, October 19, 2023   /   by Vic Markarian

What Are the Real Reasons You Want To Move Right Now?

If you're considering selling your house right now, it's likely because something in your life has changed. And while things like mortgage rates play a big role in your decision, you don’t want that to overshadow why you thought about making a move in the first place.
It’s true mortgage rates are higher right now, and that has an impact on affordability. As a result, some homeowners are deciding they’ll wait to sell because they don’t want to move and have a higher mortgage rate on their next home.
But your lifestyle and your changing needs matter, too. As a recent article from Realtor.com says:
“No matter what interest rates and home prices do next, sometimes homeowners just have to move—due to a new job, new baby, divorce, death, or some other major life change.”
Here are a few of the most common reasons people choose to sell today. You may find any one of these resonates with you and may be reaso ...

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Thursday, October 19, 2023   /   by Vic Markarian

The Risks of Selling Your House on Your Own

Are you thinking about selling your house as a For Sale by Owner (FSBO)? If so, know there's a whole lot more time and expertise needed in that process than you might think. While the idea of doing it all by yourself might seem tempting, it's important to recognize the challenges you may face if you take it on all by yourself. As a recent article from Bankrate explains:
“Choosing the right price, crafting a compelling listing, marketing to potential buyers, coordinating showings, preparing paperwork: All of these are tasks that, in the absence of a real estate agent, you will have to do yourself.”
Here’s a bit more information on just a few of those things and how you may miss out if you don’t use an agent.
You May Not Price it Right
Pricing your house right is key to a successful sale. Real estate agents have experience navigating this housing market and understand the art of pricing a home to sell today. Unfortunately, homeowners ...

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Thursday, October 12, 2023   /   by Vic Markarian

Growing Your Net Worth with Homeownership

Take a moment to imagine where you want to be in a few years. You might be thinking about your job, money, wanting more stability, or goals you want to reach soon. Is homeownership a part of that vision? If it is, you should know owning a home has a whole lot of financial benefits.
One of the many reasons to buy a home is that it’s a great way to build wealth and gain financial stability. That’s because the value of most homes increases over time, which in turn grows your net worth. Here’s how home values are rising right now. According to Zillow:
“The total value of the U.S. housing market – the sum of Zillow’s estimated value for every U.S. home – is now slightly less than $52 trillion, which is $1.1 trillion higher than the previous peak reached last June.”
Basically, homeownership is a tremendous wealth-building tool. And with home values back on the rise across the nation, n ...

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Markarian Realty Group
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Based on information from California Regional Multiple Listing Service, Inc. as of November 28, 2023. 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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