Making housing affordable: how today’s market offers opportunity for potential buyers
By Vicki Johnson
In last month’s column, we discussed the impact of rental market activity when it comes to making housing affordable for homebuyers. Now, there is even more evidence to support the correlation – and to inspire potential buyers to quit paying rent and purchase a home. According to a recent report from the California Association of Realtors, owning a home is currently more affordable than renting in 98 of the country’s 100 largest metropolitan areas. San Francisco and Honolulu alone maintain housing prices high enough to make renting a better option; meanwhile, even historically pricey markets like New York, Los Angeles, Boston and San Diego offer long-term residents a rare window of opportunity for great real estate value.
Between December 2011 and February 2012, Trulia’s Rent vs. Buy Index shows affordability ratios that favor home ownership – especially in areas where there are more vacancies and a greater number of foreclosure properties on the market. While this is hardly a universal trend, individuals and families accustomed to renting may be able to reap sizeable savings through a smart home purchase. Especially in a coveted and historically expensive market like California’s, such an opportunity is rare and wonderful indeed. Nevertheless, taking the leap from renting to buying is a big step; and it is important to conduct thorough research and recruit the services of an experienced real estate agent to ensure the best possible experience and outcome.
Get the most out of the San Diego market with help from a trusted real estate broker
The San Diego market poses a prime opportunity for those looking to make the switch from renting to buying property; and as an experienced Coldwell Banker real estate agent, I offer seasoned guidance to individuals and families preparing to purchase a first home or get back into the buying game after logging time as tenants. With a distinctive track record for exceptional customer service and a thorough understanding of the La Jolla real estate market, I offer clients top-notch service and proven negotiating skills for exceptional value and satisfaction.
Seize the opportunity to become a San Diego homeowner – and save money – in one fell swoop. To learn more about La Jolla real estate listings or schedule a consultation, get in touch today. I love learning how I can help you! Visit www.vickijohnsonpropertiescom.
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