Realty Rave Newsletter

  DECEMBER 2021 Whether you own a home or looking to buy or sell one, here are the latest Good To Know articles for when you're ready to take the next step in finding your Forever Home. DAVID BURKE REALTOR® | Lic# DRE #01426860 (760) 250-2570 | iListHouses.com 73-700 El Paseo Palm Desert, CA 92260 HOMEBUYERS, HOME SELLERS, MARKET CONDITIONS, FINANCE Slowing Sales Create Opportunity After an astonishing 114 consecutive months of year-over-year home price gains, existing home sales eased two percent on a seasonally adjusted annual rate between July and August 2021. Have rising home prices finally become too much for homebuyers? Not yet. The median existing-home sales price rose 15% year-over-year, according to  The National Association of REALTORS  (NAR), largely due to a continuing dearth of available homes for sale. Existing supplies nationwide are at a meager 2.6 months on hand, which means that at the current sales pace, supplies would end quickly. Most impacted by slim inventori

  JULY 2021 Whether you own a home or are looking to buy or sell one, here are some useful tips, ideas and advice. When you're ready to make your move, give me a call or drop me a line. DAVID BURKE REALTOR® | Lic# DRE #01426860 (760) 250-2570 | iListHouses.com 73-700 El Paseo Palm Desert, CA 92260 HOMEBUYER'S ADVICE Is It Cheaper to Rent or Buy? Home prices are going up, but in some areas of the country, it may be cheaper for you to save money for your own home by renting another year. According to  Move.com , renters can save thousands on a lease in the nation's largest tech hubs, compared to pre-pandemic prices. In February 2021, the U.S. median rent, which is calculated by averaging the median rent of the 50 largest metros, was up 0.6% to $1,452, well below its pre-COVID growth rate of 3.2%. Meanwhile, the median mortgage payment, reports  TheBalance.com   ,  was $1,100 in 2020. Monthly mortgage payments are based on the loan amount, interest rate, and the term, typicall

  SEPTEMBER 2021 Whether you own a home or are looking to buy or sell one, here are some useful tips, ideas and advice. When you're ready to make your move, give me a call or drop me a line. DAVID BURKE REALTOR® | Lic# DRE #01426860 (760) 250-2570 | iListHouses.com 73-700 El Paseo Palm Desert, CA 92260 LIFESTYLE, HOME BUYERS Vacation Home Sales Skyrocket The pandemic caused many people to try to grab more enjoyment from life, as evidenced by the latest vacation home counties  report  from the National Association of REALTORS  ®  (NAR). In 2020, vacation home sales rose by 16.4%, outpacing the overall growth in existing-home sales of 5.6%, and in 2021, vacation home sales increased 57.2% year-over-year compared to the 20% year-over-year growth in total existing-home sales. Median existing-home sale prices in vacation counties, those areas where at least 20% of homes are purchased for seasonal, occasional or recreational use, increased 14.2% compared to 10.1% in non-vacation home cou

  MARCH 2021 Whether you own a home or are looking to buy or sell one, here are some useful tips, ideas and advice. When you're ready to make your move, give me a call or drop me a line. DAVID BURKE REALTOR® | Lic# DRE #01426860 (760) 250-2570 |  https://davidburke. bhhscaproperties.com 73-700 El Paseo Palm Desert, CA 92260 FINANCIAL ADVICE Home Ownership Hedges Against Inflation Great financial reasons to own real estate, advises  Biggerpockets.com , are building equity, tax advantages that don't exist for other asset classes, not having to pay rent, passive income from rental properties, among many others. One of the greatest advantages is that buying a home is a terrific hedge against inflation. Since 1913, the annual inflation rate in the U.S. has averaged 3.10%. As the cost of goods and services rises, so do the costs of buying a home. Currently, mortgage interest rates, or the borrowing costs to buy a home, are at record lows. If you were to purchase a home today, you'