Buying a Home is 44% Cheaper than Renting

Better to own, or better to rent? It’s a classic conundrum with many variables. For this recent study, real estate website Trulia assumed that a buyer will get a 3.5% mortgage rate, reside in the 25% tax bracket and will stay in their home for 7 years. However you can adjust that equation by clicking here and playing with the map (above) interactively.

In the majority of cases, the better decision — in purely financial terms — is to buy your residence.  And a great way to make that happen is by connecting with Tracy Do Real Estate.  Tracy’s top-shelf services come without any cost to homebuyers. So why wait? Click here to send Tracy your personal message, and get started in the search for a home that you’ll love and can improve your financial outlook too.

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Map graphic courtesy of Trulia.

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1420 N. Hoover Street in Los Feliz

List Price $689,000

2 Homes • 4 bedrooms • 3 bathrooms

1,932 sf • 6,204 sf lot

Two great houses on one flat lot. Built in 1922, these two dwellings are situated in an ideal neighborhood equidistant from Los Feliz Village and Sunset Junction, right around the bend from restaurants, coffee shops, movie theaters and markets. An exclusive offering from Tracy Do Real Estate.

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The Home of Modernist Robert Langdon, AIA

List Price $945,000

3 bedrooms • 2 bathrooms

1,880 sf • 11,725 sf lot

Noted architect Langdon, along with partner Ernest Wilson Jr., were the designers of the nation’s first all-reflective glass building, the CNA Tower, and also the Getty Villa in Malibu. Langdon built this house for himself in 1950 while serving as an assistant architect for USC. Occupying a flat parcel in Pasadena’s desirable San Rafael Hills, his personal residence embodies the very best of mid-century modern function and form.The place hasn’t changed hands in nearly 50 years — and presents much like a museum piece. Other than a few minor exceptions, the home stands today as it was originally built, with an open floor plan and walls of glass that embrace the outdoors.From the swimming pool to the abundance of mature Oak trees, everything here comes together naturally and seamlessly, just the way Langdon intended it. For a private tour of this remarkable property, contact Tracy Do Real Estate.

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Listing courtesy of Crosby Doe, Crosby Doe Associates, Inc.

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FYI Quick Read…

People are talking about Alejandro Lazo’s article on bulk housing purchases that ran this weekend in the LA Times. Passions can get ignited over this subject. But regardless of how one feels about institutional investors buying up large swaths of homes, usually in “distressed” areas, the piece serves as valuable insight into one of the key market forces that are directly driving a widespread lack of inventory and upward pressure on prices.

And to anyone who feels that it’s a good time be a seller (true) and bad time to be a buyer (false), we invite you to contact Tracy Do Real Estate. There are always options out there, so call, text or email. Let’s talk about a housing solution that works for you.

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Mid-Century Modern in the Pasadena Hills

List Price $1,298,000

2 bedrooms • 2.25 bathrooms

2,674 sf • 29,378 sf lot

Located in the coveted Linda Vista neighborhood, high up in the hills and very near Pasadena Art Center, this 1958 home was designed by noted architect Harold B. Zook.

The place could use a little freshening, but its clean lines, wide open spaces and walls of glass mean there’s already so much to like.

The property runs street-to-street and covers over a half acre. Call it your retreat or oasis, it’s a great opportunity in one of Pasadena’s best neighborhoods. For a private tour, contact Tracy Do Real Estate.

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Listing courtesy of Tracy Alderson, Sotheby’s International Realty.

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CA is 2nd Most Expensive for Renters

 

Renters already know it can be tough out there, and now we know why: Andrew Khouri reports in today’s LA Times that, when it comes to the cost of paying rent, “California (is) the second-least affordable state behind Hawaii.”

 

Paying rent is a fact of life for most people, and for some it’s the right fit. However, as Tory Barringer wrote last month in the M Report, “homeownership remains important to 96% of Americans, with 77% of respondents ages 25-34 and 78% ages 35-44 agreeing it is ‘very important.’”

Renters, there are alternatives out there, particularly if you’re willing to buy new construction where there might be options in regard to financing. There may well be be an ownership opportunity that fits your taste and budget, and to find it, contact the pros at Tracy Do Real Estate.

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Happening Now: A Rush to Housing

From Matthew Boesler of the Business Insider: “Credit Suisse analyst Daniel Oppenheim states that ‘the breadth of strength in both pricing and traffic at the start of spring selling season’ is ‘unprecedented.’ Oppenheim says real estate agents are ‘widely citing increased buyer urgency due to the combination of persistent inventory shortages (driving prices higher) and signs of mortgage rates moving higher.'”

We can relate. Multiple bidders, all-cash offers — we’re seeing some heated competition in this market. But let’s all take a deep breath and slow down. As of today, mortgage rates are holding steady. So before you get swept up in any kind of stampede to the housing market, try the simpler and far less stressful approach of contacting Tracy Do Real Estate. We’re a team of well-connected, clear-thinking, highly experienced agents. We’ll sit down with you, listen to your goals and map a plan for getting the house you want. Head here to see what people are saying about us. Connect with us directly by email to tracy@tracydo.com, or by text to 323-842-4001.

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