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Spinnaker Bay & Cove – Long Beach Million Dollar Homes & Luxury Waterfront Real Estate [youtube https://www.youtube.com/watch?v=zLh10-sAPhw?rel=0&w=960&h=720]

Spinnaker Bay & Cove – Long Beach Million Dollar Homes & Luxury Waterfront Real Estate

 

| http://RicardoTheRealtor.com

Spinnaker Bay & Spinnaker Cove – Long Beach Million Dollar Homes & Luxury Waterfront Real Estate

Spinnaker Bay & Spinnaker Cove neighborhood is located in the south east portion of Long Beach, California. Our Team of Real Estate agents have SOLD several homes here. Over the recent years the property values have been rising steadily. We believe it is because of the pride of home owners to better this beautiful community and the fact that Long Beach has been investing funds in its neighborhoods.

The Spinnaker lifestyle is definitely for the homeowner that enjoys living in newer construction private waterfront homes. Many of these homes have their very own private boat dock. This planned urban development with single family homes in Spinnaker Bay & townhomes in Spinnaker Cove. Spinnaker Cove also offers its residents a private clubhouse, gym, tennis courts and pool.

There are several aspects of this great community to enjoy. Here are some that need mentioning…

1) Adjacent to Marine Stadium where you can go boating, water skiing, enjoy its beach.
2) Marine Vista Park – tennis courts, childrens playground, baseball field, soccer, cricket, kickball or just run around and have fun.
3)Jack Dunster Marine Biological Reserve– pathways meander through this reserve that is landscaped with native California plants. It is such a great place to come and enjoy.

Getting to know many of Spinnaker residents has been our teams pleasure. It is a definite waterfront playground with many of the homes well over $1,000,000 price tag. So if you need a home with a yacht parking spot this is the community for you. Call Ricardo the Realtor with any questions.
Ricardo the Realtor – Long Beach Real Estate Agent Team loves the community of Spinnaker, its bike paths, nearby parks, , architecture, and eco friendly neighbors.

Thank you for taking the time to view our video. Ricardo the Realtor – Long Beach Real Estate Team is here to assist home buyers & home sellers reach their goals. We have the marketing know how of utilizing todays’ technology to best serve you.

Long Beach Real Estate Agent Top Team, Ricardo The Realtor. By having multiple professionals in our group we are able to always be there for you when you need us. Our TEAM of Realtor’s outperform the individual agent.

Selling your home?

We utilize proven marketing techniques to obtain you the highest & best offer for your home. Gone are the days of placing a sign in your lawn, ad in the local newspaper & inputting the info into the MLS. We use todays technology- via customized online marketing, our very own mobile app to get your home the exposure it requires to get you the best price. We market your home not only locally but world wide on our site that is translated over 19 languages. We can show you how our tech savvy approach will make a world of difference when we sell your home. Marketing at a much higher level is what we specialize in.

Buying your home?

Driving around looking at For Sale signs is NOT the way to buy a home & allow us to tell you why. The “Listing Agent” already has a fiduciary duty to his client – The Seller. That agent has to get the highest price for their clients home. As your Buyer Realtor Team we look out for you, the Buyer. We are in your corner making sure your interests are 1st. Our Real Estate Agents follow a proven strategy that works.

Spinnaker Bay - Spinnaker Cove Homes For Sale

Long Beach Homes and Luxury Estates Team – Million Dollar homes For Sale

Your Top Long Beach Real Estate Agent Team is committed to providing you with the dedication to detail & client service you deserve.

For all of your Real Estate needs & more. Call Ricardo The Realtor.

#LongBeachRealtor #LongBeachRealEstateTeam #Spinnakerhomesforsale #SpinnakerBay #SpinnakerCove #waterfronthomes #boating #yachts

http://RicardoTheRealtor.com |

Long Beach Unified School District is Honored as One of the World’s Top Five School Systems, Long Beach CA

Lifestyles of Long Beach and Real Estate.com 562-533-4003

We are a Team of Realtors that work and live in Long Beach. The Ricardo The Realtor Team will make your real estate goals a reality. For all of your Real Estate needs and more… Call Ricardo The Realtor

Long Beach Unified School District is Honored as One of the World’s Top Five School Systems

By Brian Addison of the Long Beach Post

National nonprofit Batelle for Kids released their Global Education Study that listed the world’s five best school systems—and Long Beach Unified School District (LBUSD) was one of them.

The enormous achievement not only places LBUSD side-by-side with the educational systems of Finland—which holds one of the world’s most impressive literacy rates at 90 percent—and Hong Kong—where the graduation rate hovers at 85 percent—but is impressive because the school district didn’t seek out the honor. Rather, Batelle sought them.

Batelle02

“We didn’t apply for this or solicit it,” said Chris Eftychiou of the LBUSD. “We didn’t even know about this group until they approached us.”

The study, which also included Singapore and Ontario, Canada to round out the top five, began in 2011 when Batelle began researching drivers of student success.

Using the metaphor that the secret to the farmer who always wins the best crops at the County Fair shares his seeds with his neighbors, the nonprofit sought to analyze not systems which achieved a singularly great year, but system’s whose students were improving while maintaining a great level of achievement over multiple years.

LBUSD was recognized for its Pathways programs—the initiative to incentivize and encourage K12 students to reach for higher education via the triad partnership of LBUSD, Long Beach City College, and Cal State Long Beach—as well as its proximity to economic engines like the Port of Long Beach and Los Angeles.

Even further, teacher selection was key in honoring LBUSD and emphasized Batelle’s metaphor of sharing greatness. According to the study, “Long Beach teachers are comfortable sharing their best practices with their colleagues and asking for help,” along with using adjunct professors from our two higher education institutions to help find teachers and hone curriculum. The report also noted that a large percentage of LBUSD teachers live within the District, strengthening community bonds and continued personal investment.

This week, State Superintendent of Public Instruction Tom Torlakson congratulated LBUSD, releasing the following statement:

“Hats off to Superintendent Christopher Steinhauser and the teachers, administrators, staff, parents and students of Long Beach Unified School District for this well-earned recognition as one of the highest-performing school systems in the world. Their work to prepare students for the challenges of the 21st century by providing them with the real-world skills they need for college and the workplace has made Long Beach a shining example of the success that comes from teamwork, focus, and commitment.”

The findings were presented at a Global Education Summit hosted by the Ohio-based education nonprofit Batelle for Kids in November of 2012. Much of the data that led to LBUSD’s inclusion on this prestigious summit was culled from a 2010 study from McKinsey & Company that listed the District as one of the world’s top 20 school systems, a title that had LBUSD as one of only two actual districts in the U.S. that had accomplished sustained and significant improvements.

To learn more about Batelle for Kids and to watch a video describing the world’s top school districts,click here. The entire Batelle for Kids report is below. 

By Brian Addison of the Long Beach Post

Long Beach Homes and Real Estate

Long Beach schools. For all of your Real Estate needs and more… Call Ricardo The Realtor.com 562-533-4003

ELEMENTARY SCHOOLS
1 ADDAMS, JANE (J3)
5320 Pine Ave., 90805…………………..428-0202
2 ALVARADO (E4)
1900 E. 21st.,
Signal Hill, 90755………………………….985-0019
3 AVALON (A1)
P.O. Box 557, Avalon,
Catalina Island, 90704………….(310) 510-0790
4 BARTON, CLARA (I3)
1100 E. Del Amo Blvd., 90807………..428-0555
5 BETHUNE, MARY McLEOD (E1)
2101 San Gabriel Ave., 90810………..435-2050
6 BIRNEY, ALICE M. (F2)
710 W. Spring St., 90806……………….427-8512
7 BIXBY, FLORENCE (E7)
5251 E. Stearns St., 90815…………….498-3794
8 BRYANT, WILLIAM CULLEN (D6)
4101 E. Fountain St., 90804…………..498-3802
9 BURBANK, LUTHER (C5)
501 Junipero Ave., 90814………………439-0997
10 BURNETT, PETER H. (E3)
565 E. Hill St., 90806…………………….595-9466
11 CARVER, GEORGE WASHINGTON (G7)
5335 E. Pavo St., 90808………………..420-2697
12 CHAVEZ, CESAR (C2)
730 W. 3rd St., 90802……………………590-0904
13 CLEVELAND, GROVER (I9)
4760 Hackett, Lkwd. 90713…………….420-7552
14 DOOLEY (I3)
5075 Long Beach Blvd., 90805……….428-7274
15 EDISON, THOMAS A. (D2)
625 Maine Ave., 90802………………….590-8481
16 FREMONT, JOHN C. (C6)
4000 E. 4th St., 90814…………………..439-6873
17 GANT, MINNIE (E8)
1854 Britton Dr., 90815………………….430-3384
18 GARFIELD, JAMES A. (E1)
2240 Baltic Ave., 90810…………………424-8167
19 GRANT, ULYSSES S. (K4)
1225 E. 64th St., 90805…………………428-4616
20 HARTE, BRET (J4)
1671 E. Phillips St., 90805……………..428-0333
21 HOLMES, OLIVER WENDELL (I6)
5020 Barlin, Lkwd. 90712……………….633-4427
22 INTERNATIONAL (D3)
700 Locust Ave., 90813………………….436-4420
23 KETTERING, CHARLES FRANCES (C9)
550 Silvera Ave., 90803…………………598-9486
24 KING, THOMAS STARR (K2)
145 E. Artesia Blvd., 90805…………….428-1232
25 LAFAYETTE (F2)
2445 Chestnut Ave., 90806…………….426-7075
26 LEE, ROBERT E. (D5)
1620 Temple Ave., 90804……………….494-5101
27 LINCOLN, ABRAHAM (D4)
1175 E. 11th St., 90813………………….599-5005
28 LONGFELLOW, HENRY W. (H3)
3800 Olive Ave., 90807………………….595-0308
29 LOS CERRITOS (H2)
515 W. San Antonio Dr., 90807……….595-6337
30 LOWELL, JAMES RUSSELL (C7)
5201 E. Broadway, 90803………………433-6757
31 MacARTHUR, DOUGLAS (I8)
6011 Centralia, Lkwd. 90713…………..420-3588
32 MADISON, JAMES (I5)
2801 Bomberry, Lkwd. 90712…………420-7731
33 MANN, HORACE (C5)
257 Coronado Ave., 90803…………….439-6897
34 McKINLEY, WILLIAM (L5)
6822 Paramount Blvd., 90805…………630-6200
35 NAPLES (B7)
5537 The Toledo, 90803…………………433-0489
36 PRISK, WILLIAM F. (F8)
2375 Fanwood Ave., 90815……………598-9601
37 RILEY, JAMES WHITCOMB (I5)
3319 E. Sandwood St.,
Lakewood, 90712………………………….420-9595
38 ROOSEVELT, THEODORE (E4)
1400 E. 20th St., 90806…………………591-7477
39 SIGNAL HILL (E4)
2285 Walnut Ave.,
Signal Hill, 90755………………………….426-8170
40 STEVENSON, ROBERT LOUIS (C3)
515 Lime Ave., 90802……………………437-0407
41 TWAIN, MARK (I7)
5021 E. Centralia St., 90808…………..421-8421
42 TWO HARBORS (A2)
Catalina Island, 90704………….(310) 510-0440
43 WEBSTER, DANIEL (G1)
1755 W. 32nd Way, 90810……………..595-6568
44 WHITTIER, JOHN G. (E4)
1761 Walnut Ave., 90813……………….599-6263
45 WILLARD, FRANCES E. (D5)
1055 Freeman Ave., 90804…………….438-9934
K-8 SCHOOLS
50 BURCHAM, DAVID (G8)
5610 Monlaco Rd., 90808………………420-2685
51 CUBBERLEY, ELLWOOD P. (G9)
3200 Monogram Ave., 90808………….420-8810
52 GOMPERS, SAMUEL (J8)
5206 Briercrest, Lkwd. 90713…………925-2285
53 HENRY, PATRICK (H8)
3720 Canehill Ave., 90808……………..421-3754
54 HUDSON, ELIZABETH (E1)
2335 Webster Ave., 90810……………..426-0470
55 MONROE, JAMES (H9)
4400 Ladoga, Lkwd. 90713…………….429-8911
56 MUIR, JOHN (F1)
3038 Delta Ave., 90810………………….426-5571
57 NEWCOMB, DOUGLAS A. (G9)
7020 E. Brittain St., 90808……………..421-8851
58 POWELL, COLIN L. (K2)
150 Victoria St., 90805………….(310) 631-8794
59 ROBINSON, JACKIE (F3)
2750 Pine Ave., 90806…………………..492-6003
60 TINCHER, EUGENE (E9)
1701 Petaluma Ave., 90815……………493-2636
MIDDLE SCHOOLS
61 AVALON (A2)
P.O. Box 557, Avalon,
Catalina Island, 90704………….(310) 510-0790
62 BANCROFT, HUBERT H. (I7)
5301 E. Centralia St., 90808…………..425-7461
63 FRANKLIN, BENJAMIN (C4)
540 Cerritos Ave., 90802………………..435-4952
64 HAMILTON, ALEXANDER (L4)
1060 E. 70th St., 90805…………………602-0302
65 HILL, WALTER B. (D9)
1100 Iroquois Ave., 90815………………598-7611
66 HOOVER, HERBERT (I5)
3501 E. Country Club Dr.,
Lkwd. 90712…………………………………421-1213
67 HUGHES, CHARLES EVANS (H4)
3846 California Ave., 90807……………595-0831
68 JEFFERSON, THOMAS (D6)
750 Euclid Ave., 90804………………….438-9904
69 LINDBERGH, CHARLES A. (J4)
1022 E. Market St., 90805……………..422-2845
70 LINDSEY PERRY (I2)
5075 Daisy Ave., 90805…………………423-6451
71 MARSHALL, JOHN (G8)
5870 E. Wardlow Rd., 90808………….429-7013
72 NELSON, JESSIE E. (E4)
1951 Cherry Ave.,
Signal Hill, 90755………………………….591-6041
73 ROGERS, WILL (C7)
365 Monrovia Ave., 90803……………..434-7411
74 STANFORD, LELAND (F8)
5871 E. Los Arcos St., 90815………….594-9793
75 STEPHENS, WILLIAM LOGAN (F1)
1830 W. Columbia St., 90810…………595-0841
76 WASHINGTON, GEORGE (D2)
1450 Cedar Ave., 90813………………..591-2434
HIGH SCHOOLS
80 AVALON (A2)
P.O. Box 557, Avalon,
Catalina Island, 90704………….(310) 510-0790
81 BEACH (F6)
3701 E. Willow St., 90815………………595-8893
82 CABRILLO, JUAN RODRIGUEZ (E1)
2001 Santa Fe Ave., 90810…………….951-7700
83 CALIFORNIA ACADEMY FOR
MATHEMATICS AND SCIENCE (K1)
(CAMS) CSUDH…………………..(310) 243-2025
1000 E. Victoria St., Carson 90747
84 JORDAN, DAVID STARR (K3)
6500 Atlantic Ave., 90805……………….423-1471
85 JORDAN PLUS (K2)
171 W. Bort St., 90805…………………..984-3710
86 LAKEWOOD (H8)
4400 Briercrest, Lkwd. 90713…………425-1281
87 McBRIDE, ERNEST S. (H9)
7025 E. Parkcrest St., 90808
88 MILLIKAN, ROBERT A. (F8)
2800 Snowden Ave., 90815……………425-7441
89 POLYTECHNIC (D3)
1600 Atlantic Ave., 90813……………….591-0581
90 PAAL ACADEMY (D3)
1545 Long Beach Blvd., 90813…………591-1381
91 REID, WILL J. (F6)
2153 Hill St., 90810……………………….989-2098
92 RENAISSANCE (D3)
235 E. 8th St., 90813…………………….901-0168
93 WILSON, WOODROW (D6)
4400 E. 10th St., 90804…………………433-0481
CHARTER SCHOOLS
100 EMERSON PARKSIDE ACADEMY (F9)
2625 Josie Ave., 90815…………………420-2631
101 NEW CITY (D3)
1230 Pine Ave., 90813………………….436-0689
CENTRAL SERVICES
110 ADMINISTRATION BUILDING (H1)
• ELEMENTARY/K8 OFFICE
• SECONDARY SCHOOLS OFFICE (6th-12th)
1515 Hughes Way, 90810……………..997-8000
111 BUFFUM TOTAL LEARNING CENTER (E6)
2350 Ximeno Ave., 90815……………..498-2431
112 CHILD DEVELOPMENT CENTER (E1)
4310 Long Beach Blvd., 90807………422-6868
113 HEAD START (G4)
1260 E. 33rd St. Signal Hill, 90755….426-8144
114 Maintenance (F1)
2425 Webster Ave., 90810…………….997-7510
115 MULTIMEDIA SERVICES (OMS) (D3)
880 Locust Ave., 90813……….997-8000 x7198
116 NUTRITION SERVICES (F5)
3333 Airport Way, 90806……………….427-7923
117 PERSONNEL COMMISSION (D3)
999 Atlantic Ave., 90813………………..435-5708
118 PURCHASING AND CONTRACTS (J4)
2201 Market St., 90805…………………663-3002
119 SCHOOL SAFETY (E7)
5250 Los Coyotes Diag., 90815……..997-8446
120 TEACHER RESOURCE CENTER (G4)
1299 East 32nd St. Signal Hill 90755
121 TRANSPORTATION (F3)
2700 Pine Ave., 90806………………….426-6176
122 TUCKER/SPECIAL EDUCATION (E6)
2221 Argonne Ave.,………………………986-6870
LONG BEACH UNIFIED SCHOOL DISTRICT

Your Long Beach Luxury Real Estate Team

This is great news for Long Beach Home owners and their children. The Long Beach teachers and schools deserve this recognition for all of their hard work. If you would like to know more about the Long Beach communities and what schools pertain to them let us know and we can provide you with that information.

Lifestyles of Long Beach is happy to work with you on selling and/or buying your next home. Contact us so that we can make the difficulties of your next transaction easy.

Some of the Long Beach Homes/Communities include: Alamitos Beach, Alamitos Heights, Belmont Heights, Belmont Park, Belmont Shore, Bixby Knolls, Bluff Park, Bluff Heights, California Heights, Carroll Park, Downtown Long Beach, Del Lago, Naples Island, The Peninsula, Spinnaker Bay, Los Cerritos, Virginia Country Club, Bixby Hill, University Park Estate, Park Estates, College Park, Wrigley. Other areas: Lakewood, Signal Hill, Los Alamitos, Rossmoor and Seal Beach.

For all of your Real Estate needs and more… Call Ricardo The Realtor

Long Beach Real Estate,Naples Island,Belmont Shore, Alamitos Heights,The Peninsula

RicardoTheRealtor.com 562.533.4003
Our Real Estate Team always outperforms an individual. For all of your Real Estate needs and more… Call Ricardo the Realtor

Long Beach Homes and Real Estate team.

Luxury Homes & Million Dollar Estates – Your Long Beach Top Real Estate Team

Luxury Homes & Million Dollar Estates – Your Top Long Beach Real Estate Team

“For all of your Real Estate needs and more… Call Ricardo The Realtor”

Your Long Beach Real Estate Agent, RicardoTheRealtor.com Naples Island photo RTRHalfBodywithJacket_zps1d9b9383.jpg

Your Long Beach  Top Real Estate Team with RicardoTheRealtor.com

Ricardo Perdomo, aka “Ricardo the Realtor,” is a real estate agent with Keller Williams Realty has a progressive approach to local real estate in Long Beach. Utilizing cutting-edge online marketing, which includes a thriving You Tube channel, Ricardo Perdomo not only buys and sells some of the most stunning homes in Long Beach, he showcases the kind of captivating lifestyle that comes with living in a exciting metropolitan city, with a mosaic of cultural influences, married with the charm of a beach town.

As a Long Beach resident for the last 14 years, “Ricardo the Realtor” is so enamored with the town he lives in that he has a whole website dedicated to giving insider tips on enjoying all the city has to offer. LifestylesOfLongBeach.com provides information on places to visit, eat, have fun, tour and live. If that doesn’t give someone enough insight on the city, the consummate agent offers a private tour with detailed community information.

The local real estate expert is genuinely proud of his city. He understands its pulse and all of its intriguing enclaves. When asked about why he loves Long Beach so much, the ardent realtor said, “I get really excited about Long Beach. It has everything. I don’t feel like I have to go to another city. We have a beautiful beach, a burgeoning downtown full of art and culture, communities with a small-town feel, golf courses, great public transit, and lots of user-friendly bike paths. To farmer’s markets and flea markets to concerts, art walks and boating competitions, there are so many events throughout the year. We have an airport and a seaport. It’s a self-sustaining city. It’s laid back, yet sophisticated and classy. It has finesse.”

Your Long Beach Real Estate Team, RicardoTheRealtor.com photo IMG_0390_zpsace86f21.jpg

Your Long Beach Top Real Estate Team
Ricardo The Realtor.com

With the Craftsman, Spanish Colonial and Victorian homes, Italian Villas, English Tudors, beachfront properties and posh high-rise condos Long Beach has to offer, Perdomo contends that Long Beach has a home and a neighborhood to fit everyone’s taste. Many real estate agents try to take on the whole city of Long Beach themselves, but with Long Beach’s enormity and diversity in mind, Ricardo has started compiling a Lifestyles of Long Beach team with two additional agents, Josie Neglia, aka “Josie the Realtor,” and Marisol Navar aka “Marisol the Realtor,” to help him zone in on each distinct community. This way the team can be well informed on the nuances of each neighborhood, beyond just home values. “Being involved in many facets of lifestyle in Long Beach makes it possible for us to help our clients and their families make their house a home,” said Perdomo.

“Our TEAM always outperforms an Individual.”

Naples Island Artist.com photo NIAakaRTR_zpsd91fed75.jpg

Naples Island Artist.com

Perdomo’s personality and interests are a reflection of the city itself. He’s a complex, forward-thinking man with varied interests. He’s down-to-earth, but enjoys the finer things in life. As an artist, Perdomo participates in yearly art events, such as the Belmont Shore Chalk Art Fest where he won second place in 2010 for the overall competition. He is also the co-organizer of the Long Beach Figure Drawing Group. He has also volunteered at the Museum of Latin American Art for over ten years. “I believe that art is a crucial part of our society because it can evoke such positivity and meaning in our lives,” said Perdomo.

Perdomo loves children. He is going on his fifth year as Religious Education Instructor for first grade children at St. Bartholomew Church in Belmont Shore. He is very active in his faith and finds great happiness in helping others. He is on the Board of Directors of Comprehensive Child Development, Inc., Long Beach, a non-profit organization that provides quality child care, education and support services for hundreds of low income families and their children in Long Beach and surrounding cities.

He is well-known in Long Beach and actively involved as a volunteer in several improvement associations for the island of Naples where he resides which are: Naples Improvement Association, Naples Island Business Association & Naples Seawall Committee.  If you want to know where to dine, play or relax in Long Beach, then Perdomo is the man to ask.  In order to promote local businesses in Long Beach, Perdomo passes out exclusive coupons to his clients that provide a glimpse of Long Beach lifestyle at its best.  His latest offer was for 15% off at Michael’s of Naples Ristorante, the best fine-dining restaurant in Long Beach, and one of the top restaurants in all of Los Angeles. Ricardo the Realtor really believes that we gain more by helping others and that includes local business. People helping people is what you will hear Ricardo say frequently.

To learn more about living in Long Beach and Ricardo Perdomo aka “Ricardo the Realtor” go to www.RicardoTheRealtor.com.

Lifestyles of Long Beach,homes for sale,naples island,belmont shore,the peninsula photo SignatureBanneramprealestate.jpg

RicardoTheRealtor.com & your Long Beach  Top Real Estate Team

“Our TEAM always outperforms an individual.”

Your Long Beach Top Real Estate Team is here to help you. Luxury Homes & Million Dollar Estates. Communities include: Alamitos Heights, Alamitos Beach, Bay Harbour, Belmont Shore, Belmont Park, Belmont Heights, Bixby Knolls, Bixby Terrace, Bluff Park, Bluff Heights, California Heights, Carroll Park, College Park, Del Lago, Downtown, La Rochelle, Naples Island, Park Estates, The Peninsula, Wrigley… and surrounding cities such as Lakewood, Seal Beach, Signal Hill.

Why Buying a home is 45% cheaper than renting. Long Beach Lifestyle and Real Estate.

Buying a Home Cheaper than renting?… 

Long Beach Lifestyle & Real Estate

You can save hundreds of dollars a month by buying a home instead of renting – especially if you can get today’s low mortgage rates, itemize your tax deductions and plan to live there for 7 years.

The most important housing decision that most consumers face is whether to rent or to buy. So to help them with this decision, we took a look at the key market factors affecting the cost of homeownership.  First off, asking home prices have started to rebound and have risen by 2.3% year over year in August (3.8% excluding foreclosures); however, rents have risen more (4.7%). This means that prices are lower relative to rents than they were a year ago. But more importantly, mortgage rates have fallen: the best rates this summer have been around 3.5%, while last summer rates were closer to 4.5%. Based on asking prices and rents during the summer of 2012, buying is now 45% cheaper than renting in the 100 largest U.S. metros, on average – that’s a savings of $771 a month. If you plan to stay in a home for 7 years, which is the average time that Americans traditionally live in a home before moving again,it is more affordable to buy than to rent in ALL of the 100 largest metros in the U.S.

Costs aside, the decision to rent or buy a home is very personal. There’s a strong emotional component: some people want the security of homeownership and others want the footloose freedom of renting. But the financial factors are also very personal because the decision to rent or buy depends on:

  1. Can you qualify for a mortgage at the best rate available?
  2. Which tax bracket are you in, and do you itemize your deductions?
  3. How long will you stay in your home?

To calculate whether renting or buying costs less, we assume people can get a low mortgage rate of 3.5%, itemize their federal tax deductions and are in the 25% tax bracket, and will stay in their home for seven years. (Below, we’ll show how changing these assumptions can affect the rent-versus-buy math.) We do the following calculations:

  • First, we looked at all the homes for sale and rentals listed on Trulia in June, July and August 2012. On for-sale homes, we took the asking price and estimated what it would rent for; for rentals, we took the asking rent and estimated what it would sell for. That way, we can calculate the average rent and asking price for an identical set of properties in a metro area, for a direct apples-to-apples comparison. By looking at homes currently for sale or rent, we’re able to illustrate the actual housing options that consumers face right now.
  • Second, we estimated the total costs of renting and buying for the typical property in a metro over a seven-year period. We factored in all the costs of homeownership (e.g., closing costs, maintenance, insurance, taxes, etc.), along with the tax benefit of deducting mortgage interest and property taxes, as well as the proceeds from selling the home after seven years with modest home price appreciation. On the rental side, we factored in renters’ insurance and the security deposit. Finally, we calculate the net-present-value of all those costs to capture the opportunity cost of tying your money up in a down payment. This gives us the total cost of buying versus renting. We then calculated the dollar difference and percentage difference between renting and buying.
  • Finally, we looked at alternative scenarios of the costs of renting versus buying, by changing the mortgage rate, the income tax bracket for tax deductions, and the time horizon.

Where Buying is a Slam Dunk
With a 20% down payment, a 30-year fixed mortgage rate at 3.5% and at the 25% federal tax bracket, homeownership is cheaper than renting in all of the 100 largest metros by a wide margin. There is no market where the financial decision is even close, so long as you plan to stay in the home for at least seven years, get 3.5% mortgage, and itemize your tax deductions. However, how much cheaper it is to buy a home than to rent really depends a LOT on where you live.

As always if you are looking to Buy or Sell your home… please contact our Team of Professionals today. We can help guide you through the process and help you reach your goals today.

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Why Mortgage Rates, Tax Brackets and Timing Matters in the Rent vs. Buy Debate. Lifestyle of Long Beach and Real Estate.

Why Mortgage Rates, Tax Brackets and Timing Matters in the Rent vs. Buy Debate

Lifestyles of Long Beach & Real Estate

Lifestyles of Long Beach and Real Estate

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Real Estate in Long Beach


But what if you can’t get the best mortgage rate, don’t itemize your tax deductions or stay in your home for less than seven years? Each of those raises the cost of homeownership, so buying wouldn’t be quite as good of a deal relative to renting. Here’s why each matters:

  • The best mortgage rates are available for people with the best credit scores – and a not-so-hot credit score could make your mortgage a full percentage point higher, which translates to at least a 10% difference in your monthly mortgage payment.
  • Itemizing your tax deductions lets you subtract your mortgage interest and property tax payments from your pre-tax income, which lowers your tax burden especially if you’re in a higher tax bracket. How much does not itemizing raise the cost of homeownership? It depends on your tax bracket and the amount of mortgage interest and property taxes you would deduct.
  • Selling a home in less than seven years after buying it means that you’re spreading your buying and selling closing costs overfewer years – making the average monthly cost of homeownership higher.

To see how your mortgage rate, tax bracket and time horizon affect the cost of renting versus buying, let’s look at several scenarios for a few large metros:

SCENARIO

New York

LA

Boston

Atlanta

3.5% mortgage, 25% tax bracket, stay 7 years (baseline)

-31%

-32%

-41%

-57%

4.5% mortgage *

-23%

-24%

-34%

-53%

Not itemizing tax deductions *

-18%

-21%

-30%

-50%

Stay 5 years *

-21%

-22%

-32%

-52%

4.5% mortgage, not itemizing, AND 5 years

3%

-1%

-12%

-40%

* For these scenarios, the factors not mentioned are the same as the baseline.

Take Los Angeles, for instance. The top row shows that if you can (1) get a 3.5% mortgage, (2) are in the 25% tax bracket and itemize your deductions, and (3) stay 7 years, it’s 32% cheaper to buy than to rent.

Change any one of those scenarios, and buying is still cheaper than renting but less so:

  •  With a 4.5% mortgage instead of a 3.5% mortgage, buying drops from 32% cheaper than renting to 24% cheaper.
  • Failing to itemize tax deductions drops buying from being 32% cheaper to21% cheaper.

  • Staying 5 years instead of 7 makes buying 22% cheaper.

  • But all three – the 4.5% mortgage, not itemizing, and staying only 5 years – makes buying just 1% cheaper than renting – as the bottom row shows.

In New York, these same differences make buying 3% MORE expensive than renting instead of 31% cheaper. In fact, with a 4.5% mortgage, not itemizing and staying only 5 years, buying is more expensive than renting in Honolulu(by 13%), San Francisco (by 10%), and San Jose (by 4%), too.

In the other 96 of the 100 largest metros, though, buying is still cheaper than renting. In Atlanta, for instance, where buying is 57% cheaper than renting in the best of circumstances (3.5% mortgage, itemizing, and staying 7 years), buying remains 40% cheaper even with a 4.5% mortgage, not itemizing, and staying only 5 years. In fact, today’s low mortgage rates make it financially better to buy even if you only stay put for 3 years in many metros. But buying a home also involves a lot of time, emotional energy and financial risk, so we can’t really recommend buying a home that you plan to live in for just 3 years even if the financial calculation is in favor of buying. Money isn’t everything.

Jed Kolko, Chief Economist

As always if you are looking to Buy or Sell your home… please contact our Team of Professionals today. We can help guide you through the process and help you reach your goals today.

Lifestyles of Long Beach and Real Estate.com 562-533-4003
LifestylesOfLongBeach.com , We are a Team of Realtors that work and live in Long Beach. The Ricardo The Realtor Team will make your real estate goals a reality. Call us today.

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