Get inside of the mind of Sync Brokerage
According to the LA Times, there has seem to be a lot of potential home buyers that are beginning to wonder if they prefer to either buy or rent a home property. With these ideas and options now floating in their minds, they are all now beginning to weigh in on the factors of each options- the price ranges, the interest rates, and more. While interest rates have recently been at an all-time low now, the decision between renting or buying a home is still something that is to be considered among many homeowners. This supposed trade-off would be something to consider long-term, especially for homeownership while they are also seeking the chances at being one with the market, despite being a bit wobbly due to the events occurring in 2020 at large.
Due to the home prices in the LA county and city itself, they have been increasingly high for quite the time now. Whether it is buying or renting, they have been fluctuating significantly to the point where many residents within the area can’t afford them. This then makes the choice of buying or renting a much pressing one to handle and decide. It should be worth noting that each option has their own benefits as well as crutches to them So, it all comes down to whether the situations you are presented with leans more towards buying or renting the property.
According to the CoreLogic’s Single-Family Rent Index, or known briefly as SFRI: They updated the index for the prices of those back in July of this year. What they found was that there was an increase in the rental prices by about 1.7% from the previous years, this time around the prices actually dropped by about 2.9% since July 2019. The reason for this is simple: it’s because of the effects of the COVID-19 pandemic that stirred up the real estate markets:
Studio City, in the southeast San Fernando Valley, is a neighborhood in the city of Los Angeles, California. It is named after the studio lot that was established in the area in 1927, now known as CBS Studio Center.Sync Brokerage has its offices in both Studio City and Woodland Hills with the sole purpose of connecting people through Real Estate. Visit us at 12258 Ventura Blvd, Studio City CA 91604, and check out our website at https://studiocity.syncbrokerage.com.
