Many of the property owners we talk to are concerned about the value of their homes, so today we are discussing the benefits of converting your primary residence into an investment property. If you are currently underwater with your mortgage and you’d like to hold onto your home for the next few years until the market completely bounces back, we can help you do that.
There is good news; market prices in the San Ramon area are currently appreciating. The current median home value is around $856,000, according to Zillow. Another statistic that we find encouraging is that there was a 4.7 percent increase in median property values in 2014. We believe you can expect to see at least a two percent increase in 2015. In San Ramon, the average monthly rental price is $2,500 a month. The general housing market is on a path towards improvement and we think prices will continue to rise. The value of your home will continue to appreciate over the next few years until inventory can catch up.
If you are interested in turning your primary residence into an investment property, we can make that transition as smooth as possible. Please don’t hesitate to contact us at Windsor Pacific Property Management if you have any questions or need more information.