Posts

4 Signs That Pests Are Damaging Your Home

Image
David Deem 714-997-3486 Dave@DeemTeam.com


If you’ve noticed unusual signs of damage around your property, pests may be to blame. Rodents, insects and other types of pests can wreak havoc on properties and cause unforeseen damage that ends up resulting in costly repairs.

Here are four signs to look for to determine whether pests are damaging your home:

Unstable Floors
The sudden feeling that the floors in your home are unstable could be a sign of a pest problem. This may be especially true if you have hardwood floors that are damaged because of termites. You might notice the boards curling on your floor as damage persists. Flaking and crumbling may also become noticeable as your floors continue to deteriorate from the damage. Crushed-looking wood at structurally significant points can be another obvious sign of a pest problem.

Tap Test Failure
Damage that's impossible to see can sometimes be detected by performing a tap test on wood surfaces around your home. Wood that's solid all the …

6 Security Tips for Your New Home

Image
David Deem 714-997-3486 Dave@DeemTeam.com


Buying and moving into a new home is exciting, but it also requires a lot of attention to detail, from closing the deal to figuring out the logistics of getting all your belongings from point A to point B. Amid all the excitement, planning and unpacking, many new homeowners overlook one essential factor: the security of their new house.

If you’re moving, consider these six tips from the home security experts at ADT to help keep your family and your property safe and secure:

Change the Locks. You never know who lived in your property before you moved in. Do yourself a favor and change the locks regardless of the situation.

Transfer or Invest in a Security System. There’s no better way to ensure your home is secure 24/7 than installing a home security system. Burglar-proof your house by adding video surveillance and motion sensors for complete security. If there’s already a security system in the house, have it properly looked over and reactivated. If…

Fannie Mae Announces Updated Protections for Renters Impacted by COVID-19

Image
David Deem 714-997-3486 Dave@DeemTeam.com

To assist renters in multifamily units and support Fannie Mae-financed multifamily property owners experiencing difficulties during this period of financial uncertainty, Fannie Mae announced updated renter protections and forbearance extensions for borrowers. Fannie Mae's Delegated Underwriting and Servicing (DUS®) lenders have been delegated the decision to extend existing forbearances for multifamily property owners by three months, for a total forbearance of up to six months. If extended, once the forbearance period concludes the borrower may qualify for up to 24 months to repay the missed payments. While in forbearance, the landlord must suspend all evictions for renters unable to pay rent. For Fannie Mae-financed multifamily properties with a new or extended forbearance, the borrower is required to provide the following tenant protections during the repayment period: - Allow the tenant flexibility to repay back rent over time and not in a l…

Latest Unemployment Report: Great News…for the Most Part

Image
David Deem 714-997-3486 Dave@DeemTeam.com




The Bureau of Labor Statistics (BLS) released their latest Employment Situation Summary last Thursday, and it again beat analysts’ expectations in a big way. The consensus was for 3,074,000 jobs to be added in June. The report revealed that 4,800,000 jobs were added. The unemployment rate fell to 11.1% from 13.3% last month. Again, excellent news as the unemployment rate fell for the second consecutive month. However, there’s still a long way to go before the economy fully recovers as 17.8 million Americans remain unemployed.Here are two interesting insights on the report:What about a supposed misclassification?The BLS addressed this at length in a blog post last week, and concluded by saying:“Regardless of the assumptions we might make about misclassification, the trend in the unemployment rate over the period in question is the same; the rate increased in March & April and eased in May.”They specifically noted the issue in the latest report…

Pending Home Sales: May Posts Record Monthly Gain After Consecutive Declines

Image
David Deem 714-997-3486 Dave@DeemTeam.com

Pending home sales reached a 44.3 percent monthly increase in May—a new record, according to the National Association of REALTORS® (NAR).

After two previous months of declines, pending home sales are showing a market rebound, with every major region recording a month-over-month increase. According to NAR, the Pending Home Sales Index (PHSI) increased to 99.6 in May—the highest MoM growth since NAR began the series in January 2001. Since the same time last year, pending home sales have fallen 5.1 percent.

NAR expects existing home sales to reach 4.93 million units in 2020, with new home sales potentially hitting 690,000. In addition, in 2021, NAR expects sales to rise to 5.35 million units for existing homes and 800,000 for new homes.


Regional Breakdown:

Northeast
+44.4% MoM – Now 61.5 PHSI
-33.2% YoY

Midwest
+37.2% MoM – Now 98.8 PHSI
-1.4% YoY

South
+43.3% MoM – Now 125.5 PHSI
+1.9% YoY

West
+56.2% MoM – 89.2 PHSI
-2.5% YoY

"This has been a spectacular rec…

A Historic Rebound for the Housing Market

Image
David Deem 714-997-3486 Dave@DeemTeam.com
A Historic Rebound for the Housing Market

Pending Home Sales increased by 44.3% in May, registering the highest month-over-month gain in the index since the National Association of Realtors (NAR) started tracking this metric in January 2001. So, what exactly are pending home sales, and why is this rebound so important?According to NAR, the Pending Home Sales Index (PHS) is:“A leading indicator of housing activity, measures housing contract activity, and is based on signed real estate contracts for existing single-family homes, condos, and co-ops. Because a home goes under contract a month or two before it is sold, the Pending Home Sales Index generally leads Existing-Home Sales by a month or two.”In real estate, pending home sales is a key indicator in determining the strength of the housing market. As mentioned before, it measures how many existing homes went into contract in a specific month. When a buyer goes through the steps to purchase a hom…

4 things to NOT do when listing your house for sale

Image
David Deem 714-997-3486 Dave@DeemTeam.com


So you've decided to put your home on the market. Congratulations! Hopefully, you've brought a rockin' REALTOR® on board to help you list your spot, and together you've done your due diligence on what to ask for. As you start checking things off your to-do list, it's also important to pay mind of what not to do. Below are a handful of things to get you started.Don't over-improve.
As you ready your home for sale, you may realize you will get a great return on your investment if you make a couple of changes. Updating the appliances or replacing that cracked cabinet in the bathroom are all great ideas. However, it's important not to over-improve, or make improvements that are hyper-specific to your tastes. For example, not everyone wants a pimped out finished basement equipped with a wet bar and lifted stage for their rock and roll buds to jam out on. (Okay, everyone should want that.) What if your buyers are family orient…