Housing Affordability: 18-Month Low Due to Lack of Supply and Higher Prices

David Deem 714-997-3486

Housing affordability reached an 18-month low in the second quarter of 2020, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Opportunity Index (HOI).

Between the beginning of April and end of June, 59.6 percent of new and existing homes sold were affordable to families with a median income of $72,900. This is a decrease from the 61.3 percent of homes sold in the first quarter of 2020 that were affordable, and the lowest reading since Q4 of 2018.

Because HUD's estimates for median family income for 2020 were set before the pandemic, the estimates used in the HOI calculations were adjusted to reflect a median price that's 7.1 percent lower than the original number of $78,500.

"There was underbuilding before the pandemic hit, and the coronavirus outbreak has exacerbated the situation by disrupting existing supply chains," said NAHB Chairman Chuck Fowke, a custom home builder from Tampa, Fla. "Bui…

Orange County Housing Summary: August 11, 2020

David Deem 714-997-3486
The active listing inventory decreased by 141 homes in the past two-weeks, down 3%, and now totals 4,449, its lowest level for August since tracking began in 2004. In July, there were 2% more homes placed on the market compared to last year and identical to the 5-year average; thus, COVID-19’s grip on suppressing the inventory has vanished. Last year, there were 7,488 homes on the market, 3,039 additional homes, or 68% more.Demand, the number of pending sales over the prior month, increased by 81 pending sales in the past two-weeks, up 3%, and now totals 3,281, its highest level since September 2012. COVID-19 currently has no effect on demand. Last year, there were 2,606 pending sales, 21% fewer than today.The Expected Market Time for all of Orange County decreased from 43 days to 41, a Hot Seller’s Market (less than 60 days). It was at 89 days last year, much slower than today. For homes priced below $750,000, the market is a hot Seller’s Market…

Hygge Home Ideas Your Family Will Adore

David Deem 714-997-3486

In the last few years, especially as the colder seasons approach, you’ve probably heard the word hygge (pronounced hoo-gah). Hygge is the Scandinavian word for cozy, but it is also a way of life and design mantra. The idea is to elevate your decor to create a warm atmosphere and a place to enjoy life’s little moments. If you are ready to embrace a cozy hygge ambiance in your home this year, these ideas are perfect for the whole family.

Create a Meeting Space
The hygge home is centered around community. It welcomes guests to sit and chat and encourages household members to take a moment to focus on each other. You don’t have to have a 70’s-style conversation pit to evoke a meeting space in your home. Simply arrange furniture in a way that promotes conversation. This means avoiding centering your furniture around electronics. Don’t worry, you don’t have to ditch your tv altogether, but instead consider hiding your tv to further contribute to a hygge …

Quick Tips to Make Your Room Look Bigger

David Deem 714-997-3486

Small spaces have their own charm and challenges, but every home--regardless of size--can benefit from visually adding space. Thankfully, there are a few key tricks to making your rooms look bigger that are easy to implement.

Scale Down
This may be obvious, but a massive couch will swallow a small room. If your room is small, or you would simply like to maximize your empty space, opt for smaller furniture and even smaller art. Keep everything appropriate for the scale of the room.

Use Vertical Space
Keep your floor uncluttered by using vertical space instead. Opt against horizontal storage options like large trunks or long dressers. Strategically staged tall bookcases and tall dressers can serve to house items without compromising your floor space

Go for Minimalist Style
Too many items in a small room looks cluttered, even if it’s organized. Lean towards a minimalist aesthetic to ensure that you are not visually cramping your space.

Bring in the Light
A …

Toy Storage Ideas to Maximize Space

David Deem 714-997-3486

It never seems to fail that kids acquire more toys than parents can keep up with. While it can be good to cull through toys once-in-a-while to prevent against excess that causes clutter, there is a lot to be said for good toy storage practices. Great toy storage solutions can ensure that your children can access their favorite toys without creating a mess too big for them to handle. These savvy solutions may be just what your home--and your children--need to keep toys and books cared for and contained.

Pegboard Organizer
Keeping toys out of the way but still easy to access is always a challenge. Pegboards are the perfect solution to this issue. Toys can be in view at all times but hung up utilizing vertical space. This is an excellent solution for kids of any age, since it’s so easy to put items back after use. Hang up nerf guns and swords, badminton rackets, art supplies and more!

Picture Ledges
Not just for pictures, these slim shelves serve as the…

Pros and Cons of Having Your Kids Sleep in Bunk Beds

David Deem 714-997-3486

If your house has limited space, your kids may have to share a room. Bunk beds can help you make the best use of available space and give your family options in the future, but there are possible problems to take into consideration.

More Space for Play and Storage
Young children need lots of space to play, as well as room for a toy box, shelves and dressers. With two single beds taking up valuable floor space, the rest of the room can feel cramped. With bunk beds, you could maximize the use of vertical space and make the entire room feel bigger. In addition, many bunk bed designs feature built-in drawers and shelves where kids can arrange their belongings.

Privacy and Independence
For kids who share a bedroom, privacy can be hard to come by. With bunk beds, each child will have an individual space to read, do homework, write, draw or sleep. If your kids have different sleeping schedules, the overhead light can be off, and one child can use a clip-on …

Creative Ways to Use That Spare Bedroom

David Deem 714-997-3486

If you’re lucky enough to have a spare bedroom, you may want to think of it less as a rarely used landing spot for guests or a place to store extra ‘stuff,’ and more as a blank canvas - a pleasant spot you can use for rest, relaxation, hobbies or exercise, or even as a money-making option.

Consider these inspiring ideas from room designers and creative thinkers:Get crafty - Do you sew occasionally? Like to draw or paint? Love to do amazing gift-wraps? Fill the room with smart choices of furnishings, storage, tables and accessories to make your hobby more fun than ever.Make it personal - Turn the room into a ma’am- or man-cave, with comfy furnishings, a TV and sound system and anything else you need to make it a cozy, personal retreat.Make it a study - Create a cheerful home office space where you or your kids can pay bills, read online or study without interruption. Install a work counter/desk across one wall, add enough chairs and supply drawers,…