It was great to hear from you who have been thinking about buying a home. We love the stories, the humanity that binds us all, in discovering the “why” of things. As we started last week with the question, “Why am I buying a home in the first place?” The second question is equally as important in determining if purchasing a home NOW will be a good fiscal decision, for a large financial investment.
Where are home values headed?
According to the latest Home Price Index, home values are projected to increase by 5.3% over the next 12 months. What does that mean to you? Simply put, if you are planning on buying a home that costs $250,000 today, that same home will cost you an additional $13,250 if you wait till next year. Your down payment will need to be higher as well to account for the higher home price.
As you consider the question, let's take a look at what's happening
in our local real estate market this week.
in our local real estate market this week.
9 properties were listed this week in Northridge. They were priced between $360,000 and $1,099,000; ranging in size from 1341sf to 4275sf; and were built between 1947 and 1978.
My featured listing this week
8635 Encino AV, Northridge 91325
$1,099,000 - ML# SR16016141
$1,099,000 - ML# SR16016141
Beautiful French Country Gated Estate With Guest Unit in Sherwood Forest. Over 4,200 sq ft of Living Space. The Main Wing has an Expansive Floorplan With 3 Large Bedrooms, Each with Private Baths, a Large Living Room with Brick Fireplace, Elegant Formal Dining, and Huge Center Island Kitchen with 3 Ovens, Top of the Line Built-Ins, an Adjacent Sunny Breakfast Room, a Separate Laundry Room and a Private Office w/Built-Ins. The South Wing Can be Connected or Separated by a Lockable Pass-Through Door. It boasts a Large Private Master Suite, a spacious Living Room, Full Kitchen, an Additional Half Bath and an office. There is also a Detached Office with Private Entrance. Interior Highlights Include, Dual Zoned Central Air, Raised Paneled Wood Doors, Gleaming Hardwood Floors, Recessed Lighting, Custom Moldings & Ceiling Fans. The Exterior Boasts Long Covered Patios in Front and Rear of House, Professional Landscaping, a Fenced Pool, a Large Grassy area, Storage Buildings and a Large Enclosed Patio, Perfect for Parking and Storing Cars et al.
No ONE Realtor has a crystal ball, however, we do have data, of past trends, and of what the natural cycle for real estate is in our local area, as well as nationally. Each week, we send you the data on the week’s listings, so that you can track week-by-week. We do have access to the larger picture, and would be happy to share that with you. Simply reply to this email and ask us what you’d really like to know. It helps if we know when you’re considering buying the home, as based on historical evidence, we can predict the best time of year to buy.
Warmly,
Anne-Marie Stone
Realtor®, ABR®, SFR®, ALHS®, CHS®
(818) 621-9897 cell (world headquarters)
(818) 621-9897 cell (world headquarters)
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