Updated Market Snapshot - Brenda Bianchi

MY BLOGS

The Big Difference Between Renter and Homeowner Net Worth

Some HighlightsIf you’re torn between renting or buying, don’t forget to factor in the wealth-building power of homeownership.Unlike renters, homeowners gain equity as they pay their mortgage and as home values rise. That’s why, on average, a homeowner’s net worth is nearly 40x higher than a renter’s. Connect with an agent if you want to learn more about the financial benefits of homeownership or the programs that can help make buying possible.
Should You Sell Your House or Rent It Out?

When you’re ready to move, figuring out what to do with your house is a big decision. And today, more homeowners are considering renting their home instead of selling it. Recent data from Zillow shows about two-thirds (66%) of sellers thought about renting their home before listing, with nearly a third (28%) taking that possibility seriously. Compared to 2021, when fewer than half (47%) of homeowners considered renting before selling, it’s clear this trend is on the rise.So, should you sell your house and use the money toward your next home or keep it as a rental to build long-term wealth? Let’s walk through some important questions to help you determine the right path for your financial and lifestyle goals. Is Your House a Good Fit for Renting?Before you decide what to do, it's important to think about if it would make a good rental in the first place. For instance, if you’re moving far away, managing ongoing maintenance could become a major hassle. Other factors to consider are if your neighborhood is ideal for rentals and if your house needs significant repairs before it’s ready for tenants.If any of these situations sound familiar, selling might be a more practical choice.Are You Ready for the Realities of Being a Landlord?Managing a rental property involves more than collecting monthly rent. It’s a commitment that can be time-consuming and challenging.For example, you may get maintenance calls at all hours of the day or discover damage that needs to be repaired before a new tenant moves in. There’s also the risk of tenants missing payments or breaking their lease, which can add unexpected stress and financial strain. As Redfin notes: “Landlords have to fix things like broken pipes, defunct HVAC systems, and structural damage, among other essential repairs. If you don't have a few thousand dollars on hand to take care of these repairs, you could end up in a bind.”Do You Understand the Costs?If you’re considering renting primarily for passive income, remember, there are additional costs you should anticipate. As an article from Bankrate explains:Mortgage and Property Taxes: You still need to pay these expenses, even if the rent doesn’t cover all of it.Insurance: Landlord insurance typically costs about 25% more than regular home insurance, and it’s necessary to cover damages and injuries.Maintenance and Repairs: Plan to spend at least 1% of the home’s value annually, more if the house is older.Finding a Tenant: This involves advertising costs and potentially paying for background checks.Vacancies: If the property sits empty between tenants, you’ll lose rental income and have to cover the cost of the mortgage until you find a new tenant.Management and HOA Fees: A property manager can ease the burden, but typically charges about 10% of the rent. HOA fees are an additional cost too, if applicable.Bottom LineTo sum it all up, selling or renting out your home is a personal decision. Make sure to weigh the pros and cons carefully and consult with professionals so you feel supported and informed as you make your decision. A real estate agent can be a great person to go to for advice.
More Homes, Slower Price Growth – What It Means for You as a Buyer

There are more homes on the market right now than there have been in years – and that could be a game changer for you if you’re ready to buy. Let’s look at two reasons why.You Have More Options To Choose FromAn article from Realtor.com helps explain just how much the number of homes for sale has gone up this year:“There were 29.2% more homes actively for sale on a typical day in October compared with the same time in 2023, marking the twelfth consecutive month of annual inventory growth and the highest count since December 2019.”And while the number of homes on the market still isn’t quite back to where it was in the years leading up to the pandemic, this is definitely an improvement (see graph below):With more homes available for sale now, you have more options to choose from. As Hannah Jones, Senior Economic Research Analyst at Realtor.com, explains:“Though still lower than pre-pandemic, burgeoning home supply means buyers have more options . . .”That means you have a better chance of finding a house that meets your needs. It also means the buying process doesn’t have to feel quite as rushed, because more options on the market means you’ll likely face less competition from other buyers.Home Price Growth Is SlowingWhen there aren’t many homes for sale, buyers have to compete more fiercely for the ones that are available. That’s what happened a few years ago, and it’s what drove prices up so quickly.But now, the increasing number of homes on the market is causing home price growth to slow down (see graph below):In certain markets, the number of available homes has not only bounced back to normal, but has even surpassed pre-pandemic levels. In those areas, home price growth has slowed or stalled completely. As Lance Lambert, Co-Founder of ResiClub, explains:“Generally speaking, housing markets where active inventory has returned to pre-pandemic 2019 levels have seen home price growth soften or even decline outright from their 2022 peak.”Slower or stalled price growth could give you a better chance of finding something within your budget. As Dr. Anju Vajja, Deputy Director at the Federal Housing Finance Agency (FHFA), says:“For the third consecutive month U.S. house prices showed little movement . . . relatively flat house prices may improve housing affordability.”But remember, inventory levels and home prices are going to vary by market.So, having a real estate agent who knows the local area can be a big advantage. They can help you understand the trends in your community, which can make a real difference in finding a home that fits your needs and budget.Bottom LineMore housing options – and the slower home price growth they bring – can help you find and buy a home that works for your lifestyle and budget. So don’t hesitate to reach out to a local real estate agent if you want to talk about the growing number of choices you have right now.

REVIEWS

Rachael Hawley

Brenda was great, very knowledgeable! . Had a great time finding my new home with Brenda. She knew exactly what I wanted! We found very quickly and before I knew it I was all moved in!

Sylvia Shanahan

The Brenda Bianchi team in Seminole is top notch! They were always readily available to answer questions and assist us with technology. They had our home listed and marketed quickly and didn’t miss any opportunities to advertise it. We are very pleased with their professionalism and exceptional knowledge of buying and selling!

Cindy Evelsizer

Your Home Sold Guaranteed Realty assisted me with selling land in Florida in 2 weeks for much more than the current market value. Brenda Bianchi led me through every step, making the whole process so simple and easy. She did everything. All i had to do was sign. Great group, friendly, and fast. I would recommend Brenda and her team to anyone who is interested in buying or selling property in Florida

Dwain

Your Home Sold Guaranteed Realty sold my land in Florida in 2 weeks for much more than the current market value. Brenda Bianchi led me through every step, making the whole process so simple. She did everything. All i had to do was sign. Great group, friendly, and fast.

Sandy Pettigrew

We used Brenda Bianchi, and team with Your Home Sold Guaranteed Realty to purchase our Largo investment.Then Brenda’s company Bianchi Realty & Property Management found us a great tenant and managed the property until the market increased so much in value and we hired her again to sell that investment at a great price. We would highly recommend her as she truly is a one stop shop.

Paul Martucci

Amanda Was Amazing! Amanda was truly a home sellers/buyers dream come true. Her knowledge, attentiveness, and communication was absolutely amazing even in the tough situations. I am absolutely recommending her to anyone I know who will be buying a home in the near future!

David George

Professional, Prepared and Effective Team. Brenda and her team of people were everything and more than what I would ever want in marketing and selling my house. I was very specific and upfront in telling her what I needed in terms of the proceeds "in my pocket" on an "as is" sale of my house, and she did that and MORE in about the span of one month. Within the first week or so we had a viable offer that would close in just a few weeks. Her team went to work and kept me informed via online applications about the status and we executed the closing exactly on time with no problems. What more can you ask for?

Eric Hanson

Brenda Bianchi's team of real-estate pros sold our rental house promptly and professionally! My wife and I worked with Brenda Bianchi's team to sell our rental house in Largo, FL. They got two credible offers within two weeks and we accepted one. There were some repairs required before closing to allow the buyer to get their mortgage, and her team coordinated those well and got them done on time. They did a great job communicating with the tenant and the contractors. I would absolutely use Bianchi realty again.

Wendell Vaughn

Kathy McCabe was our realtor. Kathy Mccabe was the realtor we selected after interviewing multiple realtors. We found Kathy Mccabe the easiest to communicate with. Kathy seemed like one of us, well grounded and down to earth good people. She was always there for anything we needed, day or night. Not to mention, Kathy sold our home, above appraisal value in 3 days. What more could you possibly ask for. Thanks for all your professionalism and patience. Highly recommend, Kathy Mccabe.

Cynthia Anderson

Agent Chad kept us well informed during the process. He was er helpful and detail on explaining the process and assisting us on what was needed.

MY BLOGS

The Big Difference Between Renter and Homeowner Net Worth

Should You Sell Your House or Rent It Out?

More Homes, Slower Price Growth – What It Means for You as a Buyer

REVIEWS