When it Comes to Real Estate, What is Affordable?

When a potential home buyer is considering purchasing real estate one of the first questions he will ask is, is this home affordable? There has been a great deal of talk about housing affordability over the past couple of years and for the most part affordability is at an all time high throughout the United States.

Affordability is a simple calculation involving income and expenses. When the expense of owning a home equals 30% or less of a household’s monthly income then it is considered affordable. Affordability levels have been high for over a year now, indicating that it is a great time to buy a home, after-all it is wiser to buy real estate when it makes financial sense.

Buying a home that exceeds a household’s budget is a tough mistake to make. Let’s face it, money matters and anyone would rather buy an affordable home than one that isn’t.

To read an article from Realty Times regarding affordability.

For more information please contact me at 818.269.5550.

You may also visit my wesbite: http://www.caroledelacruzrealty.com/ or

email me at: carole@caroledelacruzrealty.com

Appliance Buying Guides

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  Appliance Buying Guide: Clothes Dryers

  When deciding on a new clothes dryer, here’s what you’ll need to know about features, style, price, and performance. Read
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  Appliance Buying Guide: Ranges

  When deciding on a new range, here’s what you’ll need to know about features, style, price, and performance. Read
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  Appliance Buying Guide: Dishwashers

  When you buy a dishwasher, hone in on the model that’s right for you by considering your needs: size, fit, features, and performance. Read
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  Appliance Buying Guide: Refrigerators

  When you buy a new refrigerator, arm yourself with the facts, so you’ll be sure to make the right decision for your budget and space needs. Read
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  Appliance Buying Guide: Washing Machines

  Confidently purchase a new washing machine that makes sense for your particular budget and level of green-mindedness. Read

For more information please contact me at 818.269.5550.
You may also visit my wesbite: http://www.caroledelacruzrealty.com/ or
email me at: carole@caroledelacruzrealty.com

Global Upheaval Equals Low Mortgage Rates

The upheaval of the global financial market has produced one positive side effect: historically low mortgage interest rates. For the past year or so we have been hearing about historically low interest rates, repeatedly being told that the rates are the lowest that they have been in 30 years, since the tracking of interest rates began. This week the headlines have been blaring the same news again, with interest rates even lower than they were the last time that they were at 30 year lows just a few months ago.
Currently a 30 year fixed rate mortgage can be locked in for a 4.87% interest rate. Even jumbo loans have fallen, with an interest rate of 4.5%. While there is much hype about the tightening of the financial market and the hoops a borrower has to jump through to secure a loan, there couldn’t be a better time to refinance or purchase a new home.

It’s a great time to either own a home or buy a home. Low interest rates can shave a great deal of money off of the cost of a home over the lifetime of a loan. If you have good credit, a steady source of income and have been thinking about purchasing real estate then you owe it to yourself to get out there and start looking, unless of course you can afford to wait another 30 years or so.


For more information please contact me at 818.269.5550.
You may also visit my wesbite: http://www.caroledelacruzrealty.com/ or
email me at: carole@caroledelacruzrealty.com