Monday, August 26, 2024 / by Vic Markarian
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Vic Markarian, a top teal estate agent in Granada Hills, CA, sheds light on the long-term financial benefits of buying a home over renting, particularly in the context of building equity. “In today’s market, understanding the value of home ownership is more crucial than ever,” Markarian states. With increasing numbers of homes hitting the market, he is keen to assist buyers in navigating their options and making informed decisions that align with their financial goals.
Vic Markarian has helped thousands of renters to become home buyers in the last 34 years. “As a dedicated Realtor agent in Granada Hills, CA, I’m here to help you decipher the complex dynamics of the real estate market, including the fluctuating mortgage rates influenced by various economic factors,” says Markarian. He emphasizes that while the upfront costs of buying might seem higher, the long-term gains in equity can substantiallk ...
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Thursday, June 6, 2024 / by Vic Markarian
Many homeowners looking to sell feel like they’re stuck between a rock and a hard place right now. Today’s mortgage rates are higher than the one they currently have on their home, and that’s making it harder to want to sell and make a move. Maybe you’re in the same boat.
But what if there was a way to offset these higher borrowing costs? There is. And the money you need probably already exists in your current home in the form of equity.
What Is Equity?
Think of equity as a simple math equation. Freddie Mac explains:
“. . . your home’s equity is the difference between how much your home is worth and how much you owe on your mortgage.”
Your equity grows as you pay down your loan over time and as home prices climb. And thanks to the rapid home price appreciation we saw in recent years, you probably have a whole lot more of it than you realize.
The latest from the Census and&k ...
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