adplus-dvertising
Connect with us

Investment

Selling Sunset’s Emma Hernan and other experts say now is the time to buy a house: ‘It’s one of the best investments you could make’

Published

 on

 

‘Anytime there’s volatility in a market, it’s a good opportunity’

Mike Biryla, a real estate agent at The Agency, says he tells clients it’s best to move forward with a purchase right now because “sellers are real.”

“Sellers that are on the market right now are not opportunistic sellers,” he says. “This isn’t the market where sellers can just try for a high number and see if it’ll happen.”

“You can always refinance when rates go down. You can’t refinance a purchase price.”

Mike Biryla

Real estate agent at The Agency

Biryla, who has been a real estate agent for 10 years, says he always tells his clients that if they’re committed to staying in one particular area, it’s better to purchase a home there than to continue paying rent costs that will continue to rise.

“You’re going to own a hard asset that will appreciate and keep its value as opposed to just paying somebody else’s mortgage,” he added. “Anytime there’s volatility in a market and people are nervous, it’s a good opportunity.”

D3sign | Moment | Getty Images

‘It’s all about that mailbox money’

Star of Netflix’s “Selling Sunset” and real estate agent at The Oppenheim Group Emma Hernan tells CNBC Make It that the most important thing is to remember that you’re trying to set yourself up for the future.

“If you’re not ready to take on that responsibility just yet but want to lock in an interest rate, buy it now,” Hernan said.

She’s a true believer in growing into homes and keeping them as an investment property until you do: “Down the road, you can move into it. In the meantime, rent it out and start making passive income. It’s all about that mailbox money.”

“When it comes to real estate, I think it’s one of the best investments you could possibly make. It’s great for your portfolio and it’s great for your retirement,” Hernan said.

Experts say it’s important to look at a home as something you can grow into and don’t need to live in forever.

Marko Geber | Digitalvision | Getty Images

“You can buy a home you can grow into and you’ll eventually outgrow it, that’s normal,” she says. “But what people don’t realize is that this home doesn’t have to be one that you live in forever.”

Think about the big picture and look at real estate as an investment for your future.

Emma Hernan

Star of Netflix’s “Selling Sunset” and real estate agent at The Oppenheim Group

As a real estate agent for seven years, Hernan, who is currently based in Los Angeles, says the biggest mistake she sees her clients make is they get mesmerized by the glitz and glam instead of considering what life will be like when they actually live in the space.

“It’s best to buy the smallest home in the best neighborhood because you’re buying into the neighborhood. Your value will go back up a lot faster,” she said. “You never buy the best home in the worst neighborhood.”

The bottom line: The experts agree that if you can afford to buy a home right now, you should. Keep in mind that the purchase is both a financial and personal investment.

 

728x90x4

Source link

Continue Reading

Investment

Tesla shares soar more than 14% as Trump win is seen boosting Elon Musk’s electric vehicle company

Published

 on

 

NEW YORK (AP) — Shares of Tesla soared Wednesday as investors bet that the electric vehicle maker and its CEO Elon Musk will benefit from Donald Trump’s return to the White House.

Tesla stands to make significant gains under a Trump administration with the threat of diminished subsidies for alternative energy and electric vehicles doing the most harm to smaller competitors. Trump’s plans for extensive tariffs on Chinese imports make it less likely that Chinese EVs will be sold in bulk in the U.S. anytime soon.

“Tesla has the scale and scope that is unmatched,” said Wedbush analyst Dan Ives, in a note to investors. “This dynamic could give Musk and Tesla a clear competitive advantage in a non-EV subsidy environment, coupled by likely higher China tariffs that would continue to push away cheaper Chinese EV players.”

Tesla shares jumped 14.8% Wednesday while shares of rival electric vehicle makers tumbled. Nio, based in Shanghai, fell 5.3%. Shares of electric truck maker Rivian dropped 8.3% and Lucid Group fell 5.3%.

Tesla dominates sales of electric vehicles in the U.S, with 48.9% in market share through the middle of 2024, according to the U.S. Energy Information Administration.

Subsidies for clean energy are part of the Inflation Reduction Act, signed into law by President Joe Biden in 2022. It included tax credits for manufacturing, along with tax credits for consumers of electric vehicles.

Musk was one of Trump’s biggest donors, spending at least $119 million mobilizing Trump’s supporters to back the Republican nominee. He also pledged to give away $1 million a day to voters signing a petition for his political action committee.

In some ways, it has been a rocky year for Tesla, with sales and profit declining through the first half of the year. Profit did rise 17.3% in the third quarter.

The U.S. opened an investigation into the company’s “Full Self-Driving” system after reports of crashes in low-visibility conditions, including one that killed a pedestrian. The investigation covers roughly 2.4 million Teslas from the 2016 through 2024 model years.

And investors sent company shares tumbling last month after Tesla unveiled its long-awaited robotaxi at a Hollywood studio Thursday night, seeing not much progress at Tesla on autonomous vehicles while other companies have been making notable progress.

Tesla began selling the software, which is called “Full Self-Driving,” nine years ago. But there are doubts about its reliability.

The stock is now showing a 16.1% gain for the year after rising the past two days.

The Canadian Press. All rights reserved.

Source link

Continue Reading

Investment

S&P/TSX composite up more than 100 points, U.S. stock markets mixed

Published

 on

 

TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.

The S&P/TSX composite index was up 103.40 points at 24,542.48.

In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.

The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.

The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.

The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.

This report by The Canadian Press was first published Oct. 16, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

Source link

Continue Reading

Economy

S&P/TSX up more than 200 points, U.S. markets also higher

Published

 on

 

TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.

The S&P/TSX composite index was up 205.86 points at 24,508.12.

In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.

The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.

The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.

The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.

This report by The Canadian Press was first published Oct. 11, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

Source link

Continue Reading

Trending