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Showing posts from January, 2021

What Does 2021 Have in Store for Home Values?

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  David Deem 714-997-3486 Dave@DeemTeam.com According to the latest  CoreLogic  Home Price Insights Report , nationwide  home values increased by 8.2%  over the last twelve months. The dramatic rise was brought about as the inventory of homes for sale reached historic lows at the same time buyer demand was buoyed by record-low mortgage rates. As  CoreLogic   explained : “Home price growth remained consistently elevated throughout 2020. Home sales for the year are expected to register above 2019 levels. Meanwhile, the availability of for-sale homes has dwindled as demand increased and coronavirus (COVID-19) outbreaks continued across the country, which delayed some sellers from putting their homes on the market. While the pandemic left many in positions of financial insecurity, those who maintained employment and income stability are also incentivized to buy given the record-low mortgage rates available; this is increasing buyer demand while for-sale inventory is in short supply.” Where

Is This the Year to Sell My House?

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David Deem 714-997-3486 Dave@DeemTeam.com If one of the questions you’re asking yourself is,  “Should I sell my house this year?”  consumer sentiment about selling today should boost your confidence in the right direction. Even with the current health crisis that continues to challenge our nation, Americans still feel good about selling a house. Here’s why. According to the latest  Home Purchase Sentiment Index  from  Fannie Mae , 57% of consumer respondents to their survey indicate now is a good time to buy a home, while  59% feel it’s a good time to sell one : “The percentage of respondents who say it is a good time to sell a home remained the same at 59%, while the percentage who say it’s a bad time to sell decreased from 35% to 33%. As a result, the net share of those who say it is a good time to sell increased 2 percentage points month over month.” As you can see, many still believe that, despite everything going on in the world, it is still a good time to sell a house. Why is now

The Importance of Home Equity in Building Wealth

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  David Deem 714-997-3486 Dave@DeemTeam.com Homeownership has always been the first rung on the ladder leading to household wealth. As  Freddie Mac  recently  posted : “Homeownership has cemented its role as part of the American Dream, providing families with a place that is their own and an avenue for building wealth over time. This ‘wealth’ is built, in large part, through the creation of equity…Building equity through your monthly principal payments and appreciation is a critical part of homeownership that can help you create financial stability.” Home equity is the difference between the current market value of your house and the amount you currently owe on your mortgage. To estimate your equity, subtract your mortgage balance from the market value of your home. You can find what you owe on your mortgage by looking at your last monthly statement or by contacting your lender. If you need help determining the current market value of your home, contact a local real estate professional

2021 Design Trends: Clearly Delineated Spaces

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  David Deem 714-997-3486 Dave@DeemTeam.com Photo by Nicholas Design Collaborative   It’s quaint to think back on our obsession with open floor plans. They’re not completely passé (yet), but people are increasingly interested in closing off those wide-open spaces we so used to covet. “The pandemic has completely shaped home design trends for 2020 and 2021,” Isaacs says. “Not only do people want to create a cozy shared living space, but they also are carving out areas to have some space to themselves.” “The trend will be to create different living spaces within the open floor plan so people will have pockets or nooks in the home for e-learning, Zoom calls, a conversation, lounging, exercising, etc.,” adds  Julie Busby , founder of the Busby Group at Compass in Chicago. The need for separate spaces is also shifting home buyers’ priorities in the new year. “New buyers are asking for homes with more separation, as sometimes multigenerational families share a home and need space and privacy

2021 Design Trends: Dedicated Home Offices

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  David Deem 714-997-3486 Dave@DeemTeam.com Photo by Gina Sims Designs   We can probably all admit: Working from the kitchen table was kind of cute when you thought you would be doing it for only a few weeks. But now? Not so much. That's why, in 2021 (and beyond) home offices will be more important than ever. “One of the most prevalent design trends currently is adding or renovating home offices. People are working from home and do not want to field calls from the kitchen table,” says  Simon Isaacs , owner/broker of Simon Isaacs Real Estate. If you don’t have a spare room for an office, there are plenty of ways to get creative and set up a space with some personality. In fact, one of the biggest trends on Pinterest this year is the rise of the "cloffice," a portmanteau of "closet" and "office." “I’ve seen clients transform hall closets into amazing offices with high-gloss paint, some wallpaper, and a few shelves,” Isaacs says. “A can of paint can go a

Why Not to Wait Until Spring to Make a Move

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  David Deem 714-997-3486 Dave@DeemTeam.com The housing market recovery coming into the new year has been nothing short of remarkable. Many experts agree the turnaround from the nation’s economic pause is playing out extremely well for real estate, and the current market conditions are truly making this winter an ideal time to make a move. Here’s a dive into some of the biggest wins for homebuyers this season. 1. Mortgage Rates Are Historically Low In 2020, mortgage rates hit all-time lows 16 times. Continued low rates have set buyers up for significant long-term gains. In fact,  realtor.com  notes: “Given this means homes could cost potentially tens of thousands less over the lifetime of the loan.” Essentially, it’s less expensive to borrow money for a home loan today than it has been in  years past . Although mortgage rates are expected to remain relatively  low  in 2021, even the slightest increase can make a big difference in your payments over the lifetime of a home loan. So, this

How to Prevent Electrical Fires and Injuries

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  David Deem 714-997-3486 Dave@DeemTeam.com Electrical fires and accidents can result in property damage, shocks, burns and even death. Many tragedies can be prevented by using electrical outlets, cords and appliances correctly. Use Plugs and Outlets Safely Plugs should fit snugly into electrical outlets. If a plug is loose, it or the outlet is likely damaged. Have a broken outlet replaced by an electrician. If a plug is damaged, you may need to have the appliance repaired or replace it. If a plug has three prongs, never try to force it or alter it to make it fit into a two-pronged outlet. When you unplug an appliance, hold the plug securely. Pulling on the cord could wear it out and cause damage to the appliance or outlet, an electrical shock, or a fire. Young kids are often fascinated by electrical outlets and have been known to insert all sorts of objects into the holes, which can cause shocks and fires. If young children live in or visit your home, use outlet covers to prevent inju

Orange County Housing Summary: January 12, 2021

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David Deem 714-997-3486 Dave@DeemTeam.com   The active listing inventory decreased by 42 homes in the past two-weeks, down 2%, and now totals 2,633, its lowest level to start a year since tracking began in 2004. COVID-19 is not suppressing the inventory despite the surge in cases. In December, there were 24% more homes that came on the market compared to the prior 5-year average. Last ye ar, there were 3,901 homes on the market, 1,268 additional homes, or 48% more. Demand, the number of pending sales over the prior month, decreased by 300 pending sales in the past two-weeks, down 14%, and now totals 1,895, its strongest start to a year since 2013. COVID-19 has no effect on demand. Record low rates are fueling today’s exceptional demand. Last year, there were 1,434 pending sales, 24% fewer than today. The Expected Market Time for all of Orange County increased from 37 days to 42, a Hot Seller’s Market (less than 60 days).  It is the strongest reading to start a year since tracking began

10 Household Cleaning Tricks Using Vinegar

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David Deem 714-997-3486 Dave@DeemTeam.com Commercial-grade cleaners may make your home sparkle, but many have chemicals that can be hazardous. If you want to clean your home using natural products, try using vinegar, a non-toxic agent, in these 10 ways: In the kitchen, vinegar can be used in place of appliance cleaners. Clean your refrigerator’s ice and water dispenser by running vinegar through the system. Flush the vinegar out by running water through the system for 30 to 60 seconds. Deodorize the garbage disposal by pouring in half a cup of baking soda and half a cup of vinegar. Let sit for five minutes, and then run hot water down the disposal. Rid your dishwasher of mineral buildup by pouring half a cup of vinegar into the reservoir and running an empty cycle. To clean a grease-splattered oven door window, saturate it with vinegar. Keep the door open for 10 to 15 minutes before wiping with a sponge. In the bathroom, vinegar can help maintain plumbing fixtures. Rid faucets of lime

3 Must-Do’s When Selling Your House This Year

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David Deem 714-997-3486 Dave@DeemTeam.com It’s exciting to put a house on the market and to think about making new memories in new spaces. However, despite the anticipation of what’s to come, we can still have deep sentimental attachments to the home we’re leaving behind. Growing emotions can help or hinder a sale depending on how we manage them. When it comes to the bottom line, homeowners need to know what it takes to avoid costly mistakes when it’s time to move. Being mindful and prepared for the process can help you stay on the right track when selling your house this year. 1. Price Your Home Right When  inventory  is low, like it is in the current market, it’s common to think buyers will pay whatever we ask when setting a listing price. Believe it or not, that’s not always true. Don’t forget that the buyer’s bank will send an appraiser to determine the fair value for your house. The bank will not lend more than what the house is worth, so be aware that you might need to renegotiat

Why Selling Your House on Your Own in 2021 Is a Mistake

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  David Deem 714-997-3486 Dave@DeemTeam.com There are many benefits to working with a real estate professional when selling your house. During challenging times, like what we face today, it becomes even more important to have an expert you trust to help guide you through the process. If you’re considering selling on your own, known in the industry as a  For Sale By Owner (FSBO) , it’s critical to consider the following items. 1. Your Safety Is a Priority Your safety should always come first, and that’s more crucial than ever given the current health situation in our country. When you FSBO, it is incredibly difficult to control entry into your home. A real estate professional will have the proper protocols in place to protect not only your belongings but your health and well-being too. From regulating the number of people in your home at one time to ensuring proper sanitization during and after a showing, and even facilitating virtual tours, real estate professionals are equipped to fol