HOMES
HOMES
OUR VALLEY SANTA CLARITA
“ REAL ESTATE CANNOT BE LOST OR STOLEN , NOR CAN IT BE CARRIED AWAY . PURCHASED WITH COMMON SENSE , PAID FOR IN FULL , AND MANAGED WITH REASONABLE CARE , IT IS ABOUT THE SAFEST INVESTMENT IN THE WORLD .”
F R A N K L I N D . R O O S E V E L T
Mariness Chata , Broker www . marinesschata . com
My Chrystal Ball
At the beginning of each year , I get the same questions : Is now a good time to buy ? Should I continue renting or get off the fence and purchase a home ? Are prices going to go up or down ?
I wish I had a Crystal Ball so I could tell potential purchasers what to do . What I offer instead is very educated information based on available data I gather from reliable sources . Governmental decisions in 2017 are sure to impact the economy and how the real estate market will react to it .
Right here , in our back yard , homeowners have been quite happy with property value appreciation during the last few years . According to the Chairman of the Santa Clarita Valley Division of the Southland Regional Association of Realtors , in 2016 single-family homes appreciated 6.3 % and condominiums appreciated 7.8 % over 2015 . Those are very impressive numbers ! Homeowners can build up wealth and , at the same time , enjoy deductions for mortgage interest and property taxes on their federal returns . On the other hand , renters are deeply concerned with the current high prices asked by landlords .
For the people who are still not sure whether to buy a home or keep renting , I recommend that they continue renting if they plan to move out of the area within three to four years , because costs related to buying and selling a home may not be recouped in such short amount of time .
Another option , the one I most recommend , is to buy now while interest rates are exceptionally low . If moving becomes necessary , keep the property and rent it out , as Santa Clarita has a shortage of rentals . This is a good opportunity to start building up an asset portfolio and having someone else pay the mortgage .
My view here is simple , I believe that owning real estate is a proven method to build up wealth and to prepare for retirement . Whether you live in it or rent it out will depend on specific personal circumstances .
Ready to explore your options ? Contact me to discuss whether it makes sense for you to purchase a first home or expand your real estate portfolio in 2017 .
As Ray Brown so well once wrote , ” The best time to buy a home is always five years ago .”
Mariness Chata – Broker Cell : 661-317-3332 I am never too busy for you ! MarinessChata @ outlook . com http :// marinesschata . com /
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