Are you currently renting a home or apartment in the Napa Valley? Have you thought about buying a home recently? Then give me a call and let us discuss making this a reality.
Even though prices have risen since bottoming out about a year ago, they are still way below the peak of $600,000 hit back in 2006. With today’s median price for all homes sold in the Napa Valley being $365,000 and the lowest interest rates on record, 3.5% for a fixed 30 year loan, buying a home is a better economic value than renting especially given the recent increases in what landlords are charging for scare rentals.
In order to be successful in today’s competitive home buying market, you need to work with a professional who is not only knowledgeable in all aspects of buying a home, but is also a short sale specialist and has worked with banks to sale their properties. Let me put my 30 years experience to work for you.
Majority of millennial renters plan to buy a home
Amid rising home prices, increasing home sales, and falling delinquencies and foreclosures, more than 1 in 4 consumers (27 percent) feel more positive about homeownership than they did six months ago, compared with 19 percent who report feeling more negative, according to Trulia’s American Dream survey. Harris Interactive conducted the online survey on behalf of Trulia among 2,083 U.S. adults, age 18 and over, between November 15 to 19, 2012.
According to the survey, 31 percent of today’s renters plan to buy a home in the next two years—a 9-point increase from 22 percent in January 2011. However, some Americans remain skeptical about owning a home. Nearly three-quarters of consumers (72 percent) said homeownership is part of their personal American Dream, which remains below February 2009 and January 2010, when 76 percent and 77 percent, respectively, agreed with this sentiment.
Despite coming of age through the years of boom and bust, millennials (18-34 year olds) haven’t completely written off homeownership. In fact, 72 percent of these young adults say homeownership is part of their personal American Dream – the same as the adult population overall. Among renters in this age group, 93 percent plan to purchase a home some day. Meanwhile, 43 percent of young adults are homeowners already.