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Grace and Lucas Miranda

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The Three "R's" Of The Market: Relocation, Retirement, and Right-Sizing!

by Grace and Lucas Miranda

Our market is continuing to be very strong, with a great rebound from the last few years.  But the needs of our sellers have shifted recently along the lines of what I call the “Three R’s”.

Relocation:  Folks seem to be jumping ship and heading out of California.  A lot of them. To date my list includes:  Arizona, Oregon, Washington, Montana, Idaho, Nevada, and Texas.  Only about 10% of those are job related, the rest are due to tax benefits in other states, lifestyle choices in terms of hobbies, and a desire for a quieter, simpler lifestyle.  (That’s something I crave, but not enough to move out of state!) 

Retirement:  The baby-boomers are done working! Well, maybe not all of them. My husband and I have a few years left in our careers.  But we are seeing a huge number of baby boomers retire, some quite comfortably, and buy retirement homes, second homes, investment properties, etc.   There is also a huge wave of retirees who are looking at what we call Community Living:  Senior Apartments, Independent Living, Assisted Living, etc.  We have become trusted experts in helping folks with their parents needs, and their own transitions into a community living situation. 

Right-Sizing: You hear a lot about down-sizing, however not all of those moves are into smaller homes or into lower price points.  Many folks get rid of the big, luxurious home with the pool, big garden, and bigger overhead to buy a high rise condo at the beach looking over the ocean.  Or a home in the desert and one in the mountains.  They are done with the high utility bills and the work of owning the big home, and want simplicity.  And they are willing and able to pay for it.  Hence my term “Right-Size” instead of “Down-size”.

Interested in a private consultation on one of your “R’s”?  Give me a call, I’m happy to talk to you confidentially about what your home is worth and what all your options are. 

TRUSTED. HONEST. EFFECTIVE.

These three words are what our clients say about us, and  we cherish their support of our business.  We are constantly looking to provide you extra value in your life as it pertains to real estate.  We are open to suggestions, and would love to hear from you any time, even if it’s just a random real estate related question!

Thank you for trusting us with your business!


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Should I Buy a Home Now?

by Grace and Lucas Miranda

I'm often asked if this is a good time to buy a home. Some clients are concerned that home prices may fall further than they have already. They are assuming that the best course of action is to wait for the bottom in the market and then buy. The problem with this approach is that you don't know where the bottom is until you see it in the rear view mirror, meaning until you've missed it!

Home prices are one factor in determining your cost of ownership, but so are interest rates and financing availability. Even though interest rates have gone up in the last six months, they are still near historic lows. Since your monthly mortgage payment is a combination of paying down your principal and paying the interest owed, if home prices come down a little further but interest rates go up, it could cost you even more to service a mortgage on an identical home!

While a home is a major investment, it is also the center of your personal life. It's important to live in a home that reflects your taste and values, yet is within your financial "comfort zone." To that end, it may be more important to lock in today's relatively low interest rates and low home prices, rather than to hope for a further break in prices in the future.

Please give me a call if I can be of any assistance in determining how much home you can afford in today's market.

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Photo of Grace Miranda and The Miranda Team Real Estate
Grace Miranda and The Miranda Team
Keller Williams Realty
111 North First Street, Suite 300
Burbank CA 91502
818-239-3545
Fax: 818-239-3555