Realty World – Viking Realty

If you are considering buying or selling a home, you may think you will “save some money” and do it yourself.  But did you know that by using a knowledgeable real estate professional, you are more likely to save not only money, but also valuable time and energy?  With the many tasks you are currently trying to juggle, do you have the sales skills – not to mention the contacts and resources – to do it on your own?  Instead of trying to take on more work for yourself, think about what a real estate representative can do for you.
As buyers, you know what your financial reserves are and what your future earning potential may be.  You can give your real estate professional information about your income, saving and current debt.  Then, your agent can take that information to help you make a choice about which homes best meet all of your needs, and to offer you objective information about homes that are on the market.
If you are selling property, a real estate representative will be aware of ways you can significantly increase the salability of your home.  In addition, a real estate professional knows how, when and where your property should be advertised.
As a real estate professional, I can help with all of your buying and selling needs.

Should I buy or rent?
The answer has never been clearer: Buy.
In 98 of the top 100 housing markets, buying a home is more affordable than renting, according to the online real estate company Trulia. Only Honolulu and San Francisco buck the trend.
There are several reasons. Home prices are falling. Mortgage interest rates are at historically low levels. And rents are on the rise.
Of course, many renters are not in a position to buy. For one, it’s hard to get a
mortgage these days, despite low rates. And paying rent can push them further away from being able to afford to buy, “Rising rents make it harder for people to save for a down payment, which is the biggest barrier to buying a home that aspiring homeowners face,” Jed Kolko, Trulia’s chief economist.
The nation’s cheapest buyer’s market is Detroit, where purchasing is only 3.7 times more expensive than renting.
Other top five metro areas where buying is much better than renting are Oklahoma City, Dayton, Ohio,Warren, Mich. and Toledo, Ohio.
In San Francisco, for example, studio and one-bedroom apartments sell for 13.1 times rent, while three bedrooms or larger sell for more than 18 times rent.
“People will pay more for a home if they expect prices to rise and give them a better return on their investment,” said Kolko.
According to Ken H. Johnson, a professor of real estate at Florida International who has studied the buy-vs-rent question extensively.
He believes home prices nationally have bottomed.”The ship has turned,” he said.
“Markets should slowly start to recover. Housing will return to its traditional
role of a safety investment.”
If so, that adds an incentive to buy. And investing in many of the most expensive markets may be even safer.
Kolko pointed out that places like Honolulu, San Francisco and Boston have strong long-term growth prospects. They also have little physical space to grow, a factor that tends to keep prices strong.
 The above information was obtained by the Calif. Assco. of  Realtors & CNN Money.
Related articles

Home buying much cheaper than renting (fox2now.com)
Buying a home cheaper than renting in most places (sfgate.com)
It’s Cheaper to Buy (cathysellsbreakerswest.wordpress.com)
Home Buying MUCH Cheaper Than Renting (chesbuilt.com)

Is it better to rent or own?  It is a matter of opinion.  According to the New York Real Estate news, a professor UC Berkeley,  who did a case study said it is better to rent all the time.  “And not just from a practical standpoint; also from a financial one, Reuters reported.
The reason is that the carrying costs associated with homeownership, such as property taxes and renovations, often cause homeowners to fail to meet their other financial goals, the professor, Rich Arzaga, said.
Of course, there are critics of that logic.
“To state that owning a home is or isn’t a good investment is too simplistic,” said Jeffrey Rogers, president of Integra Realty Resources, a New York-based real estate appraisal firm. “It depends. In times of relatively higher rents, low home values, and low interest rates, it makes sense to own a home. But in a reverse market, it wouldn’t be economically feasible. Over time, those who purchase in down or flat markets with low interest rates come out ahead.”
click here on story: Reuters

Daily Breeze
State and national foreclosure filings continue to rise
Even as the economy and real estate market show signs of stabilizing, foreclosure filings continued to grow in California and nationwide last year.
To read the full story, please click here.