Lenora Lostaunau (Page 171)

Saving for a down payment is often the biggest hurdle for a first-time homebuyer. Depending on where you live, median income, median rents, and home prices all vary. So, we set out to find out how long would it take you to save for a down payment in each state? Using data from the United States Census Bureau and Zillow, we determined how long it would take, nationwide, for a first-time buyer to save enough money for a down payment on their dream home. There is a long-standing ‘rule’ that a household should not pay more than 28% of their income on their monthly housingRead More →

Some Highlights: Interest rates are still below historic numbers. 88% of property managers raised their rent in the last 12 months! The credit score requirements for mortgage approval continue to fall. Source: Housing Market & Real Estate News Lenora LostaunauLenora is a full-service San Diego real estate agent, serving residents county-wide, and those looking to live in San Diego. She specializing in Metro and Coastal San Diego, with a Masters Degree in Marketing and over 10 years in the real estate industry, Lenora offers top tier, professional service that gets results.Read More →

Many Americans got some depressing news last week; either their tax return was not as large as they had hoped or, in some cases, they were told they owed additional money to either the Federal or State government or both. One way to save on taxes is to own your own home. According to the Tax Policy Center’s Briefing Book -“A citizen’s guide to the fascinating (though often complex) elements of the federal Tax System” – there are several tax advantages to homeownership. Here are four items, and a quote on each, from the Briefing Book: 1. Mortgage Interest Deduction “Homeowners who itemize deductions mayRead More →

Forbes.com recently released the results of their new American Dream Index, in which they measure “the prosperity of the middle class, and…examine which states best support the American Dream.” The monthly index measures several different economic factors, including goods-producing employment, personal and commercial bankruptcies, building permits, startup activity, unemployment insurance claims, labor force participation, and layoffs. The national index score was rounded out to 100 in January and saw a modest jump to 100.5 in February. Alaska represented the lowest score on the index at 80.7, due mostly to the recent collapse in oil prices. Nevada came in with the highest score at 108.8, boostedRead More →

According to the Beracha, Hardin & Johnson Buy vs. Rent (BH&J) Index, the U.S. housing market has continued to move deeper into buy territory, supporting the belief that housing markets across the country remain a sound investment. The BH&J Index is a quarterly report that attempts to answer the question: In today’s housing market, is it better to rent or buy a home? The index examines the entire US housing market and then isolates 23 major cities for comparison. The researchers “measure the relationship between purchasing property and building wealth through a buildup in equity versus renting a comparable property and investing in a portfolio of stocks and bonds.” Read More →

If you thought about selling your house this year, now may be the time to do it. The inventory of homes for sale is well below historic norms and buyer demand is skyrocketing. We were still in high school when we learned the concept of supply and demand: the best time to sell something is when supply of that item is low and demand for that item is high. That defines today’s real estate market. Jonathan Smoke, Chief Economist at realtor.com, revealed in a recent article that: “The biggest challenge to buyers this spring will be simply finding a home to buy and getting it successfully underRead More →