Darnella Real Estate

Darnella Real Estate

For Exceptional Real Estate Services Call
925-207-8211
CA DRE Broker #01117484
Para Español Oprima Aqui
  • Home
  • About
  • Sellers
  • Buyers
  • Search For Properties
  • Real Estate Services
    • REO Services
  • Blog
  • HUDHomeStore.Gov
    • HUD Homes for Sale
  • Contact
  • San Jose
  • Morgan Hill
  • Gilroy
  • San Martin
  • Antioch
  • Brentwood
  • Pittsburg
  • Oakley
  • Concord
  • Pleasant Hill
  • Martinez
  • Livermore

Your Next Home Will Be LESS Than Your Parents’

April 20, 2018 By Darnella Aulani, Real Estate Broker

costly
There is no doubt that the price of a home in most regions of the country is greater now than at any time in history. However, when we look at the cost of a home, it is cheaper to own today than it has been historically.

The Difference Between PRICE and COST

The price of a home is the dollar amount you and the seller agree to at the time of purchase. The cost of a home is the monthly expense you pay for your mortgage payment.

To accurately compare costs in different time periods, we must look at home prices, mortgage rates, and wages during each period. Home prices were less expensive years ago, but paychecks were also smaller and mortgage rates were much higher (the average mortgage interest rate in 1988 was 10.34%).

The best way to measure the COST of a home is to determine what percentage of income is necessary to buy a home at the time. That would take into account the price of the home, the mortgage interest rate and wages at the time.

Zillow just released research that examined home costs using this formula. The research compares the historic percentage of income necessary to afford a mortgage to the percentage needed today. It also revealed the cost if mortgage rates continue to rise as experts are predicting.

Whether you are a homeowner considering selling your current house and moving up to the home of your dreams, or a first-time buyer trying to purchase your first home, it’s a great time to move forward.

 

Filed Under: Buyer Resources, Real Estate Blog, Seller Resources

Darnella Aulani, Broker
Darnella Aulani, M.ED. , Director for Life
Broker #01117484
  • Contact
  • About

Certified Woman-Owned Business and Certified Minority Woman-Owned Business

nawrb

Find Your Dream Home

  • realtor
  • abr
  • gri
  • abrm
  • sres
  • crs-updated
  • areo
  • equal-housing
  • nwr
  • crb
  • pmn
  • cca
  • CBA_200

Contact & Location

Darnella Real Estate - San Jose
22 Great Oaks Blvd, Suite 200
San Jose, CA 95119
PH: (925) 207-8211
CA DRE Broker #01117484

Darnella Real Estate - Antioch
3731 Sunset Lane, Suite 207
Antioch, CA 94509
Ph: (925) 777-1770
Fax: 925-848-2030
CA DRE Broker #01117484

Client Tools & Access

  • Client Login
  • Create an Account
  • Sign Up for Email Updates
  • Mortgage Calculator
  • Darnella Real Estate Blog

Real Estate Search Tools

  • Basic Property Search
  • Advanced Property Search
  • Property Address Search
  • Property Map Search
  • Rental Search

HUD Homes Information

  • HUD Homes for Sale

Certified Women-Owned Business
Certified Minority Woman Owned Business

nawrb

Copyright © 2023 · Darnella Real Estate · All Rights Reserved · Site By Clifton Creative Web