We often receive a pressing question from prospective homeowners - "How much income do I need to afford an $800,000 house?"
It's a necessary question and an important factor to consider in your home buying preparation. So, here we go.
The answer, like many things in life, isn’t quite so simple and depends on many factors. These include your total monthly debts, credit score, down payment, and current interest rates.
Debt-to-Income Ratio (DTI) Most lenders prefer a debt-to-income ratio (DTI) of 36% or less. This means if your total household income is $150,000 per year, your total debts (including mortgage, car loans, student loans, and credit card payments) should not exceed $54,000 annually or $4,500 a
Orange County, also known as the not-so-cheap Disneyland in the world of real estate, is a bustling marketplace in Southern California. It's famously known for its sprawling beaches, celebrity residents, tourist hotspots, and a dynamic housing market that may just have you saying, "Oh dear lord, why!"
First, let's dive into the antidepressant-inducing median home prices. As per the California Association of Realtors, the median home price in Orange County, as of 2021, hit record-breaking highs. Essentially, the price tags on homes have been shooting up faster than Elon Musk's Teslas to space. The rise can be attributed to a mash-up of low mortgage interest rates and a microscopic supply of available homes, resulting in a ruthless Hunger Games of
Once upon a time in a land far, far away, architects and designers squirmed under heaps of blueprints, their tables creaking under the weight of an empire of paper. Today, say hello to the new dawn of design, sparked by AI's golden child, generatively intelligent algorithms. Quite a step up from the humble abacus, don't you think?
1. A Harbinger of New Ideas
With a knack for creativity that makes even Picasso look like a child with finger paint, generative AI churns out novel designs and architectural plans like hot donuts off the press. It takes stock of existing designs, swirls up a storm in its mechanical mind, and voila - unique concepts that even the most inventive human might require an extra coffee or two to dream up.
Greetings, Friends and Future Neighbors! Say hello to your next big adventure in sunny Huntington Beach. This California haven is more than just waves and beaches—it's a vibrant community that could be your perfect downsizing destination!
Downsizing in Huntington Beach: A Golden Opportunity Awaits
Retirement and downsizing can go hand in hand, and here's why Huntington Beach could be the perfect place!
Bustling Real Estate Arena: Without a doubt, our city is the place to be. The last year alone saw an impressive 1492 homes sold. It's time to claim your piece of this paradise!
Worth Every Penny: With an average property selling at $1,348,604, you're not just buying a house, you're purchasing your dream retirement lifestyle compactly
If you follow the Wall Street Journal’s “Luxury Home” features you are familiar with the properties in U.S. metropolises that sell for more than $100 million. Although the number of such sales has been surpassing that mark, they are still rarities. Costa Mesa median home prices don’t regularly carry that kind of price tag which could be why—like everyone else—most local Journal readers are curious enough to check out the details of those market-toppers.
That made it interesting when last week’s WSJ luxury home article began by pointing out that one unfortunate community has “yet to cross the $100-million threshold.” Ever! “Why,’ readers may have asked themselves, “why point the spotlight at the unfortunate loser” community? Why put the
Over the weekend yahoo!finance offered an interview that gave Costa Mesa real estate optimists some of the most positive opinions they’ve heard in a while. The source was an onscreen interview with TV’s Barbara Corcoran, a permanent celebrity panelist on the perennial hit series. Yahoo’s headline story provided the simple encouraging prediction: “Housing Prices are Going to Go Through the Roof.”
That view came from a well-respected source. Corcoran, herself a real estate entrepreneur as well as a Shark Tank regular, believes there “will be a major swing in the real estate market as soon as interest rates drop.” Her prediction that “All hell’s going to break loose and prices are going to go through the roof” was backed up with specifics. She expects