Thursday, March 13, 2025 / by Vic Markarian
For years, sellers have had the upper hand in the housing market. With so few homes for sale and so many people who wanted to purchase them, buyers faced tough competition just to get an offer accepted. But now, inventory is rising, and things are starting to shift in many areas.
So, is the market finally balancing out? And does that mean buyers will have it a bit easier now? Here’s what you need to know.
What Makes It a Buyer’s Market or a Seller’s Market?
It all comes down to how many homes are for sale in an area compared to how many buyers want to buy there. That’s what ultimately determines who has the most leverage.
A Seller’s Market is when there are more buyers than homes available, so sellers hold the power. This leads to rising prices, multiple offers, and homes selling quickly – often above the asking price – because there isn’t enough to go around.
A Buyer’s Market is when there are more homes k ...
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Sunday, March 2, 2025 / by Vic Markarian
Recent natural disasters have left many homeowners in Granada Hills, CA, and surrounding areas facing financial uncertainty. For those struggling to keep up with mortgage payments, Vic Markarian, a top local real estate expert, is encouraging homeowners to explore mortgage forbearance as a valuable relief option.
What is Mortgage Forbearance?
Mortgage forbearance allows homeowners to temporarily reduce or pause their mortgage payments during financial hardship. This option can be crucial for those affected by recent disasters, providing much-needed relief while they recover.
How Homeowners Can Benefit from Forbearance
According to Vic Markarian, a trusted real estate professional with over 30 years of experience, homeowners should immediately contact their mortgage lenders to discuss available forbearance programs. Lenders often provide temporary payment relief, ensuring homeowners don’t fall into foreclosure while recovering from unexpected challenges.
"Many homeowners k ...
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Thursday, February 27, 2025 / by Vic Markarian
Over the past few years, you’ve probably seen a whole lot of headlines about how home prices keep going up. But have you ever stopped to think about what that actually means for your home?
Home prices have risen dramatically over the past five years — far more than usual. And if selling has been on your mind, this could mean a bigger-than-expected payday when you list. So, how much has your home’s value really changed? Let’s break it down.
The Rapid Rise of the Past 5 Years
Typically, home prices go up by about 2-5% a year. But in 2021-2022, there were double-digit increases. And at the peak, prices rose by a staggering 20% or more nationally. Why? There were way more buyers than homes available, which sent prices soaring. While things have normalized since then, you still get to reap the benefits of those massive increases.
Your house has gained way more value than it normally would in such a short period of time – and that k ...
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Thursday, February 20, 2025 / by Vic Markarian
For the past few years, it’s been mostly a seller’s market. But dynamics are shifting as the number of homes for sale grows. And that means that the market is balancing out a bit. As a result, some sellers are finding they need to be more flexible to close a deal. One strategy that can help? Offering concessions.
As the National Association of Realtors (NAR) explains:
“As home inventory begins to grow and buyers regain some advantage in the market, sellers may consider offering more in negotiations to make the deal more attractive and get to the closing table.”
What Are Seller Concessions?
Concessions are homebuying costs that a seller agrees to cover as a way to get their house sold. And based on data from the National Association of Realtors (NAR), nearly 1 out of every 4 sellers (24%) offered a concession in 2024. Here are a few of the most common types of concessions:
Covering Closing Costs: The seller pays for part ...
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Thursday, February 13, 2025 / by Vic Markarian
Spring is the busiest season in the housing market. It’s the time of year when buyers are most active – that means it’s when homes sell faster and for top dollar. If you’ve already got a move on your mind, why not list this spring and take advantage of the added buyer demand?
Since spring is just around the corner, now’s the time to start getting your house market-ready. You’ve got just over a month to do the prep work. And while that may sound like a decent amount of time, it’s going to go by quickly. And you won’t want to rush through this important task – especially this year.
The Right Repairs Will Matter More This Spring
Right now, two things are true. There are more homes on the market than there have been in years. And buyers are being extra selective. That combination means you need to invest some time and effort in making strategic repairs. And many homeowners already have a jump on this work.
In the 20 ...
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