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By Max Boyko - RE/MAX Gold Hybrid | Broker in Sacramento, CA
  • Owning Remains Significantly Cheaper than Renting

    Posted Under: Home Buying in Sacramento, Home Selling in Sacramento, Home Ownership in Sacramento  |  September 23, 2013 2:19 PM  |  534 views  |  No comments
    Despite rising interest rates, owning a home is still significantly cheaper than renting at a national level and in most large metropolitan areas, according to Trulia’s Summer 2013 Rent vs. Buy Report.

    While rising interest rates are closing the gap between renting and owning, owning is still 35 percent cheaper than renting nationally. A year ago, the difference was 45 percent.

    “Recent mortgage rate and home price increases have made buying significantly more expensive than last year, but not enough to tip the math in favor of renting,” said Jed Kolko, chief economist for Trulia.

    “This is because rates remain well below historical norms, and prices are still slightly undervalued, too,” he said.

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  • Home staging professionals find new business in changing market

    Posted Under: General Area in California, Market Conditions in California, Home Ownership in California  |  September 3, 2013 4:40 PM  |  407 views  |  No comments

    Home staging professionals discovered a unique way of marketing themselves in the fluctuating real estate environment by reminding home sellers that properties sell much faster after undergoing a professional facelift.

    The Real Estate Staging Association has the figures to back this up.

    In a recent study conducted by the trade association, 89 vacant occupied and un-staged homes were listed. These homes spent an average of 166 days on the market. However, when these exact same homes were professionally staged and relisted, they only spent an average of 32 days on the market — a 73% decrease in time spent on the market.

    "Every home can use staging,” said Shell Brodnax, CEO of RESA. "Even investors are coming in. They are buying those properties, they’re fixing the things that need to be fixed and they’re paying for staging," she added.

    According to Brodnax, staging is an effective tool no matter what the housing market looks like. In a slow market, staging can make a house stand out and sell. However, in a hot housing market, where things are more competitive, those properties are getting attention and often bringing in multiple offers, said Brodnax.

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  • Homeownership remains a goal that should be encouraged

    Posted Under: Market Conditions in California, Home Buying in California, Home Ownership in California  |  August 30, 2013 9:48 AM  |  376 views  |  No comments

    If we convince ourselves that just because home values declined after 2007 the U.S. should stop encouraging ownership, we'll be making a drastic mistake.

    I have a confession to make: I am a homeowner.

        That's a dangerous thing to say. We homeowners are getting blamed for a lot of today's economic ills, and labeled dupes besides.It's said that we profiteer from an undeserved tax break. That our obsession with ownership drove the nation to make unwise policy choices during the last eight decades. That our 30-year fixed-rate mortgages are dinosaurs dependent on government subsidies.

    We're told that by treating our homes as piggy banks, we impoverished ourselves and our children. That we would almost certainly be better off renting rather than owning. That we would be richer had we sunk our nest eggs into stocks and bonds.

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  • July new home sales climb 3.6%

    Posted Under: Market Conditions, Home Buying, Home Ownership  |  August 23, 2012 12:28 PM  |  101 views  |  3 comments

    NEW YORK (CNNMoney) -- New-home sales are on the upswing, but they still have a long way to go before they get back to normal.

    In July, home builders sold new homes at an annual rate of 372,000, a 3.6% gain compared with the 360,000 sold in June and a 25.3% year-over-year increase, according to a Census Bureau report.

    "These numbers are even better than they look," said Pat Newport, an analyst with IHS Global Insight. "New-home sales data has been revised upward after the initial report eight months in a row and these will be revised upward again. That tells us that the market is getting back on track." 

    The number surpassed most industry expectations. Real estate analysts told Briefing.com they'd expected to see a sales rate of 368,000 for the month. Last July, sales languished at a rate of 297,000. 

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  • More signs of a housing rebound

    Posted Under: Market Conditions, Investment Properties, Home Ownership  |  July 18, 2012 12:36 PM  |  139 views  |  No comments

    NEW YORK (CNNMoney) -- A recovery in home construction seems to be underway, with both housing starts and permits up in June year-over-year, according to a report released Wednesday by the Census Bureau.

    Housing starts rose 6.9% over May to a 760,000 annual rate, the highest level since October 2008, and were up an impressive 23.6% compared with a year earlier. Starts of single-family homes inched up month-over-month.

    Permits fell slightly from revised May numbers to 755,000, but were up 19.3% compared with June 2011.

    Another industry release from the National Association of Home Builders (NAHB) reported that builder confidence is at its highest level in five years.

    "Builder confidence increased by solid margins in every region of the country in July as views of current sales conditions, prospects for future sales and traffic of prospective buyers all improved," said Barry Rutenberg, NAHB's chairman and a home builder from Gainesville, Fla.

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  • McMansions for half off!

    Posted Under: Market Conditions, Home Buying, Home Ownership  |  July 11, 2012 11:13 AM  |  125 views  |  No comments
    The McMansion is back. After shrinking for three years, newly-constructed homes are growing again.

    For the first time in six years, Americans are asking for more square footage in new home designs, according to a recent report from the American Institute of Architects.

    Existing home buyers are thinking big, too -- especially in markets where home prices have been hit the hardest like Phoenix, said Jed Kolko, chief economist for real estate website Trulia.

    In the past several months, many small- to mid-sized homes have sold in the Phoenix area, freeing up sellers who wanted to trade up, explained Marci Burgoyne, a broker with Crown Key Homes in Phoenix.

    And many are finding huge bargains. This Spanish Colonial last sold in late 2005 for $610,000. The current asking price is almost half that. 

    Inside the home, there are five bedrooms .....

    Continue reading this article at: http://cnnmon.ie/N024nz
  • U.S. Housing Market Finally Reaches a Turning Point

    Posted Under: Market Conditions, Home Buying, Home Ownership  |  June 13, 2012 11:52 AM  |  127 views  |  No comments
    RISMEDIA, Monday, June 11, 2012— Home valuations will start to climb again while adjacent consumer industries will capture significant new growth opportunities in 2012 and beyond as the U.S. housing market finally turns the corner, concludes a major new study recently released by The Demand Institute. The recovery of the housing market will have far-reaching impacts in the coming years across the U.S. and international markets as U.S. consumers increase their spending on buying, renovating, furnishing and maintaining their homes.

    Launched in February 2012 and jointly operated by The Conference Board and Nielsen, The Demand Institute is a non-profit, non-advocacy organization with a mission to illuminate where consumer demand is headed around the world.

    The new report, “The Shifting Nature of U.S. Housing Demand,” predicts that average home prices will increase by up to 1 percent in the second half of 2012. By 2014, home prices will increase by as much as 2.5 percent. From 2015 to 2017, the study projects annual increases between 3 and 4 percent. This recovery will not be uniform across the country, and the strongest markets could capture average gains of 5 percent or more in the coming years.

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