Avoid High California Rent – Buy a Livermore Valley Home!

The latest report from the National Low Income Housing Coalition included grim news for California renters. Based on the average hourly wages of a California worker, the median monthly California rents are unaffordable for the majority of tenants. California ranks just below Hawaii when it comes to expensive rentals, with New Jersey, Maryland and New York rounding out the top five states.

The problem is more serious for minimum-wage earners and those living on a fixed income. Per the Coalition’s report, minimum wage workers cannot afford average rents anywhere in the country. What’s more, even those who are earning twice the minimum wage cannot afford average rents in 86% of the country. This leaves a good number hard-working people out in the cold.

Rent increases have been boosted by improvements in the economy and the job market. Rental demand is on the increase and vacancy rates are at their lowest points in recent history. Meanwhile, the construction of new apartments has been dampened by tight commercial lending. Simply put, supply hasn’t been able to keep up with demand, and it probably won’t catch up for years. It’s a great time to be a landlord – but not a renter!

With so many affordable Livermore Valley homes on the market, home ownership deserves another look. A fixed-rate mortgage gives you better control of your monthly housing expenses, long-term, than an annual lease. Why pay escalating rents for years to come, when you can have more room, more control, and better living for the money in a Livermore Valley home? Interest rates are low, there’s a great selection of homes, and the down payment on an FHA mortgage can be as low as 3.5%.

As your professional Livermore Valley real estate agent, I understand the factors behind our market statistics. I also understand the concerns of today’s buyers! The mortgage, the appraisal, the property inspection – there are a number of details that need to be handled. Whether you are a first-time buyer, or looking for an investment property, I can help! My market expertise can help you find a great opportunity in Livermore Valley real estate!

If you are buying or selling a Livermore Valley home, I have the experience that makes a difference. If you have questions about real estate in Livermore, Dublin or Pleasanton, give me a call today

John Kurtzer
Your Livermore Real Estate Expert
RE/MAX Accord

Livermore Real Estate
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