BUYING VS. RENTING

Almost $1M Homes Return to Positive Equity

During the first quarter of 2013, approximately 850,000 more homes have regained positive equity according to Core Logic.  This is exciting news for homeowners across the country and an incentive to buyers who have been waiting to purchase.

 

Reportedly, we now have 39 million homes with positive equity and the negative equity burden is continuing to recede across the country due to rising home prices.  

 

Before we get too excited, we need to understand that the housing recovery is still far below when home prices peaked, but tight housing supply in many areas coupled with continued demand for single family homes should help close the gap.

 

Meanwhile nearly 97 million or about 20% of homes with mortgages were still reported with negative equity.  This figure is drastically down, however, and borrowers have good reason to feel hopeful that their equity will return before too long.

 

Nevada shows the highest percentage of mortgaged properties with negative equity at 45.4%, followed closely by Florida and Michigan.

 

Home prices in our area on the Central Coast of California are moderately rising resulting in some bidding wars on the most competitively priced properties.  

 

The cost of renting vs. buying now is about the same which is fueling an enormous increase of activity in the lower price levels.

 

Nancy Puder is a Real Estate Broker in Arroyo Grande, CA.  You may contact her at Nancy@NancyPuder.com or (805)710-2415 She always enjoys hearing from you!

Home Warranties Benefit Buyers and Sellers

Whether you're buying or selling a home, a home warranty is an excellent investment. If you're selling a home, the last thing you want to do is spend a lot of money, if a system or appliance stops working. And if you're buying a home or you already own your home, it's nice to know that you are protected from expensive repair and replacement costs.

 

Whether you are a buyer or seller you'll appreciate the numerous benefits and conveniences that you get from a home warranty.

 

Benefits for Sellers

• Most buyers will ask for a warranty anyway.  Most sellers aren't aware that they can include seller coverage during the listing period also and is often free.

• Attract more first-time home buyers. Provide peace of mind for buyers who might be intimidated by the high cost of repairing or replacing systems or appliances.

• No after-sale worries. If a breakdown happens after closing, the buyer will turn to the warranty for help in most cases.

 

Benefits for Buyers

• Save money and protect your budget. Rather than paying hundreds or thousands of dollars to repair or replace an appliance or home system, you'll pay a standard deductible per service call, per trade, on covered components.

• Most warranty companies will repair or replace covered systems and appliances no matter the age, make or model. Plus, there are no home square footage restrictions and no inspection required.

• Most warranties are renewable and for a few hundred dollars per year, you can continue your coverage.

 

Nancy Puder is a well-known real estate broker in Arroyo Grande.  You may contact her at Nancy@NancyPuder.com or call (805)710-2415.  She always enjoys hearing from you!

 

 

Top 10 Reasons to be Optimistic About Real Estate...

There are many indicators that the housing market is well on the road to recovery.  Here are 10 top reasons to be optimistic!

 

1. Home prices are going up

 

2. More new households are being formed

 

3. Foreclosures are way down

 

4. Interest rates are predicted to remain low

 

5. Demands for home loans are increasing

 

6. More Americans agree that this is a good time to sell

 

7. The number of improving housing markets is going up

 

8. Builder confidence is up resulting in more housing starts

 

9. As housing prices go up, people are getting their equity back and so fewer people are "underwater" with their mortgages

 

10. Real Estate is contributing to the overall economic recovery

 

If I can help you sort through your individual situation, please let me know.  I always enjoy hearing from you! 

 

Nancy Puder is the owner and broker of Signature Properties located in Arroyo Grande, CA. You may reach her at (805)710-2415 or nancy@nancypuder.com