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Are Interest Rates Expected to Rise Over the Next Year?

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  David Deem 714-997-3486 Dave@DeemTeam.com So far this year, mortgage rates continue to hover around 3%, encouraging many hopeful homebuyers to enter the housing market. However, there’s a good chance rates will increase later this year and going into 2022, ultimately making it more expensive to borrow money for a home loan. Here’s a look at what several experts have to say. Danielle Hale,  Chief Economist ,  realtor.com : “ Our long-term view for mortgage rates in 2021 is higher.  As the economic outlook strengthens, thanks to progress against coronavirus and vaccines plus a dose of stimulus from the government, this pushes up expectations for economic growth . . . .” Lawrence Yun,  Chief Economist ,  National Association of Realtors  (NAR) : “ In 2021, I think rates will be similar or modestly higher  . . . mortgage rates will continue to be historically favorable.” Freddie Mac : “ We forecast that mortgage rates will continue to rise through the end of next year . We estimate the 3

4 Tips for Better Indoor Air Quality

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  David Deem 714-997-3486 Dave@DeemTeam.com Our homes harbor more than just our families and possessions. Home is also where pollutants, allergens, and other irritants accumulate and thrive, with possible harmful effects on our health. Here are some simple steps homeowners can take to improve the air quality at home and increase their comfort and well-being. 1. Handle the Humidity High humidity is one of the main contributors to mold and dust mite growth, both of which adversely affect indoor air quality. Keeping indoor humidity below 50% will help prevent further infestation, although once mold gets established it can continue to grow even at lower humidity levels. To reduce humidity in the home, use exhaust fans in kitchens and bathrooms, make sure the dryer is properly vented to the outdoors, and address any leaks or condensation issues. Consider using a dehumidifier in especially humid locations such as basements, which typically have poor air circulation and are prone to dampness.

Patience Is the Key to Buying a Home This Year

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  David Deem 714-997-3486 Dave@DeemTeam.com The question many homebuyers are facing this year is , “Why is it so hard to find a house?”  We’re in the ultimate sellers’ market, which means real estate is ultra-competitive for buyers right now. The  National Association of Realtors  (NAR) notes homes are getting an average of 4.8 offers per sale, and that number keeps rising. Why? It’s because there are so few houses for sale. Low inventory in the housing market isn’t new, but it’s becoming more challenging to navigate. Danielle Hale,  Chief Economist at realtor.com , explains: “ The housing market is still relatively under supplied , and buyers can’t buy what’s not for sale. Relative to what we saw in 2017 to 2019,  March 2021 was still roughly 117,000 new listings lower, adding to the pre-existing early-year gap of more than 200,000 fresh listings that would typically have come to market in January or February . Despite this week’s gain from a year ago, we’re 19 percent below the new s

Orange County Housing Summary: May 5, 2021

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David Deem 714-997-3486 Dave@DeemTeam.com ·         The active listing inventory decreased by 110 homes in the past two-weeks, down 5%, and now totals 2,274, its second lowest level since tracking began in 2004 behind 2,240 achieved on April 1 st . From April 1 to April 15, there were 13% fewer homes that came on the market compared to 5-year average between 2015 to 2019 (2020 was skewed do to COVID-19), 274 less. Last ye ar, there were 4,625 homes on the market, 2,351 additional homes, or 103% more. ·         Demand, the number of pending sales over the prior month, increased by 11 pending sales in the past two-weeks, nearly unchanged, and now totals 3,081. Rates dropped down to below 3% for the first time since February, keeping demand at its current brisk pace.  Last year, there were 1,172 pending sales, 62% fewer than today. Keep in mind, it was the start of the pandemic too, which negatively affected demand through May. ·         The Expected Market Time, the number of days to se

Infuse Living Spaces With Color

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  David Deem 714-997-3486 Dave@DeemTeam.com From experiences to surroundings, the past year has brought a renewed focus on feeding the soul. In an era of overstimulation and information overload, many are finding a new appreciation for living life minimally but with maximum experiences. That mentality is increasingly evident in all aspects of life, especially with home design and decor. After all, spending more time at home means more time to discover what truly evokes happiness. At the same time, as the focus on physical and mental wellness heightens, design experts see those trends reflected in a more considered approach to design inspired by color therapy, which makes it possible to create beautiful spaces filled with healing color.  With an expertly coordinated color palette, like the Color Collections from HGTV Home by Sherwin-Williams, colors work in perfect harmony in any combination. Thoughtful use of color is among the most effective design tools for reveal-worthy style in you

Can You Qualify for a Reverse Mortgage If You Currently Have a Home Loan?

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David Deem 714-997-3486 Dave@DeemTeam.com A reverse mortgage can let you access a portion of your home equity while continuing to own and live in your house. The loan will have to be repaid when you die, sell the house or move out. You may be able to take out a reverse mortgage if you haven’t paid off your existing home loan. Types of Reverse Mortgages Home Equity Conversion Mortgages are federally insured and backed by the Department of Housing and Urban Development. Money from an HECM can be used for any purpose. Some state and local government agencies and nonprofit organizations offer single-purpose reverse mortgages. A lender may specify that funds accessed via a reverse mortgage may only be used to finance home maintenance or repairs or to cover property taxes, for example.  Proprietary reverse mortgages are private loans that are insured by the lenders that offer them. A proprietary reverse mortgage may be a good option for you if you have a high-valued house and a substantial a

How to Style Gym Equipment in Your Home

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David Deem 714-997-3486 Dave@DeemTeam.com A home gym can be the perfect opportunity to remove barriers to your motivation. Whether you are social distancing, don’t feel confident at the gym or simply don’t have a flexible schedule, gym equipment in your home can be convenient and motivating. If you don’t want to sacrifice your home’s style for your fitness routine, try out these tips. Buy With Your Space in Mind Sure, it could be awesome to have a full gym set up complete with every piece of equipment imaginable, but if your space cannot conveniently accommodate it, you’re likely to find yourself feeling constricted in your home. Not only can this negatively impact your day-to-day home life, but it can also make your workouts feel cramped, leaving you uninspired. Add Decor to Your Workout Area Whether you have a whole room dedicated to fitness equipment or you simply have a stationary bike in the corner of your room, adding wall decor and intentional accessories can make even clunky eq