Luxury Valley Homes Arizona Real Estate Blog

Cost of Renting vs. Buying in the US

Cost of Renting vs. Buying in the US Highlights:

  • Historically, the choice between renting or buying a home has been a tough decision.

 

  • Looking at the percentage of income needed to rent a median-priced home today (29.2%) vs. the percentage needed to buy a median-priced home (15.8%), the choice becomes obvious.

 

  • Every market is different. Before you renew your lease again, find out if you can put your housing costs to work by buying this year!

 

Home Equity - How Much Equity Do You Have in Your Home

Jeff DaleyHome Equity - CoreLogic’s latest Equity Report revealed that 91,000 properties regained equity in the first quarter of 2017. This is great news for the country, as 48.2 million of all mortgaged properties are now in a positive equity situation. Price Appreciation = Good News for Homeowners Frank Nothaft, CoreLogic’s Chief Economist, explains: “One million borrowers achieved positive equity over the [...]

Comment balloon 1 commentJane & Jeff Daley, PhD • June 23 2017 04:51PM
Cost of Renting vs. Buying in the US
share
Cost of Renting vs. Buying in the US Highlights: Historically, the choice between renting or buying a home has been a tough decision. Looking at the percentage of income needed to rent a median-priced home today (29. 2%) vs. the percentage needed… more
Buying is Cheaper Than Renting Now by 33. 1 Percent
share
Buying is cheaper - The results of the latest 12 Key Differences show that homeownership remains cheaper than renting with a traditional 30-year fixed rate mortgage in the 100 largest metro areas in the United States. The updated numbers… more
Homeownership Is a Good Financial Investment - Scottsdale Real estate
share
According to a recent report by Trulia, “buying is cheaper than renting in 100 of the largest metro areas by an average of 33. 1%. ” The report may have some people thinking about buying a home instead of signing another lease extension, but does that… more
Can Your Real Estate Agent Answer These Important Questions?
share
Whether you are selling or buying a home, the real estate agent you hire is critical to guaranteeing your family makes the right decision. Most agents can walk you through the process and explain the industry ‘lingo, ’ but you should expect so much… more
What Would You Sacrifice to Save For Your Next Home?
share
The top item that buyers sacrifice is new clothes, at 54%. 95% of first-time homebuyers are willing to sacrifice to make homeownership a reality. Even repeat or experienced buyers say they sacrificed taking a vacation or buying a new car to buy… more
Five Reasons You Should Sell This Summer
share
Here are five reasons listing your home for sale this summer makes sense. 1. Demand Is Strong The latest Buyer Traffic Report from the National Association of Realtors (NAR) shows that buyer demand remains very strong throughout the vast… more
Mortgage Interest Rates Reverse Course in 2017 - Luxury Valley Homes
share
Mortgage Interest Rates Reverse Course - To start the year, housing experts all agreed on one thing: 2017 was going to be the year we would see mortgage interest rates begin to rise. After years of historically low rates, and an improving economy,… more
New Construction: The Number One Answer to the Housing Shortage
share
New construction - The biggest challenge to today’s housing market is the shortage of housing inventory for sale. A normal market would see a six-month supply of homes for sale. Currently, that number is below four months. This is the major reason… more
Is 2017 the Year to Move Up to Your Dream Home? If So, Do It Early!
share
If you are considering moving up to your dream home, it may be better to do it earlier in the year than later. The two components of your monthly mortgage payment (home prices and interest rates) are both projected to increase as the year moves… more
Owning Your Home – Do you Know the Cost of NOT Owning Your Home?
share
Owning your home has great financial benefits, yet many continue renting! Today, let’s look at the financial reasons why owning a home of your own has been a part of the American Dream for as long as America has existed. Zillow recently reported.. more