MarketWATCH Northridge

Did you know that in 1906, Colorado was the first state to observe Columbus Day in celebration of Christopher Columbus landing in what's now the Bahamas in 1492? In California, we're more of the let's celebrate Indiginous Peoples... and so we enjoy the dichotomy of our United States. In my country (Canada) we celebrated Thanksgiving this past Monday. :) In the spirit of exploration, I'd like to share with you some thoughts about why you should by before "Winter" (such as it is in California) comes on in full force. 1. Prices Will Continue to Rise The Home Price Expectation Survey polls a distinguished panel of over 100 economists, investment strategists, and housing market analysts. Their most recent report released recently projects appreciation in home values over the next five years to be between 10.5% (most pessimistic) and 25.5% (most optimistic). The bottom in home prices has come and gone. Home values will continue to appreciate for years. Waiting no longer makes sense. 2. Mortgage Interest Rates Are Projected to Increase Although Freddie Mac’s Primary Mortgage Market Survey shows that interest rates for a 30-year mortgage have softened recently, most experts predict that they will begin to rise later this year. The Mortgage Bankers Association, Fannie Mae, Freddie Mac and the National Association of Realtors are in unison projecting that rates will be up almost a full percentage point by the end of next year. An increase in rates will impact YOUR monthly mortgage payment. Your housing expense will be more a year from now if a mortgage is necessary to purchase your next home. 3. Either Way You are Paying a Mortgage As a recent paper from the Joint Center for Housing Studies at Harvard University explains: “Households must consume housing whether they own or rent. Not even accounting for more favorable tax treatment of owning, homeowners pay debt service to pay down their own principal while households that rent pay down the principal of a landlord plus a rate of return. That’s yet another reason owning often does—as Americans intuit—end up making more financial sense than renting.” 4. It’s Time to Move On with Your Life The ‘cost’ of a home is determined by two major components: the price of the home and the current mortgage rate. It appears that both are on the rise. But, what if they weren’t? Would you wait? Look at the actual reason you are buying and decide whether it is worth waiting. Whether you want to have a great place for your children to grow up, you want your family to be safer or you just want to have control over renovations, maybe it is time to buy. Bottom Line If the right thing for you and your family is to purchase a home this year, buying sooner rather than later could lead to substantial savings. Now, let's take a look at what's going on around the area. This week in Northridge, we saw 10 listings added, ranging in price from $749,000 - $1,525,000; and in size from 2269sf - 6801sf. Now let's take a look at a property that caught my eye. Featured Listings

8933 Enfield Ave $1,399,000 - MLS#SR15226311 Stunning prime Sherwood Forest estate for indoor and outdoor living at its best. Beautifully gated entry welcomes your arrival and leading the way is a beautiful circular laid brick driveway. Impressive 4 bedroom and 4 baths with enhanced custom details throughout the 3,078 square feet. Hardwood floors and crown moldings. Entertain family and friends in the open family/conversation room with adjacent custom full bar. Spend your evening in the private formal dining room with picture windows with views of the lavish backyard area. Kitchen with ample cabinetry, granite counters, breakfast bar as well separate eating area allows for large gatherings. Spacious master features outdoor views, fireplace, sitting area and slider to outdoor patio seating. Luxurious master bath offers custom vanity, jaccuzzi bath and walk-in closet. Resort style backyard features custom pool & spa, sports court, full bar and BBQ area under Pergola for alfresco entertaining. This home is situated on a beautiful tree lined street with exquisite finishes. This gorgeous residence presents the ideal balance of sophistication and comfortable living. Click here for property details This week's listings in Northridge -- Click here So, if this IS the right time for you to buy, your next BEST step is to give us a call and let's chat about what your priorities are. Come, have a cup of coffee or tea with me, and we'll plan out the best strategy for getting you into your next home in Northridge. My number is (818) 621-9887. I look forward to chatting with you soon!

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