Rising First-Time Landlords

It's been an interesting real estate year so far and as prices goes up, there is an increase of first-time landlords entering the market.  Typically, if a homeowner want to buy a new house, they would sell the old one and use the equity as a down payment.  Especially for homeowners who move out-of-town.

With rising rents, there is a new approach.  Buy a new house. Keep the old house and rent it out.

Perhaps this is one reason why there is limited inventory for homes for sale.

If you would like a complimentary rental market report for your property, contact us.

California Real Estate FAST FACTS

did you know these FAST FACTS from the california association of realtor (C.A.r.)? Calif. median home price: April 2013:  California: $402,760 Calif. highest median home price by region/county April 2013: Marin, $952,870 Calif. lowest median home price by region/county March 2013: Siskiyou County, $$118,0000 Calif. Pending Home Sales Index: April 2013: Decreased 3.7 percent from a revised 126.5 in March to 121.7 in April   Calif. Traditional Housing AffordabilityIndex: First Quarter 2013: 44 percent (Source: C.A.R.) Mortgage rates: Week ending 6/6/2013 (Source: Freddie Mac) 30-yr. fixed: 3.98% fees/points: 0.7% 15-yr. fixed: 3.10% fees/points: 0.7% 1-yr. adjustable: 2.58% Fees/points: 0.4% Thinking about how your home compares? Start with a FREE home value report from a licensed California realtor.

Our March Real Estate Picks of the Month

Downtown Los Angeles Loft/Condo for Sale

Westside Los Angeles Home and Condo for Sale

San Fernando Home and Condo for Sale

Pasadena Home and Condo for Sale