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Pros and Cons of Buying a House With a Fireplace

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

Many people love the idea of relaxing in front of a fireplace on a cold winter night. The sight, smell and sound of a fire can create a relaxing ambience. While the idea of having a home with a fireplace may be appealing, the reality does not always live up to people’s expectations. The amount of heat given off, the amount of work required and the cost depends on the type of fireplace.

Wood Fireplace
A wood fireplace can create a cozy atmosphere. If the power goes out, a wood fireplace can continue to heat your home. It can also provide light and a way to cook during a power outage.

Since most of the heat produced by burning wood escapes through the chimney, a wood fireplace is not very energy efficient. A fireplace insert can increase the amount of heat that stays in the house. If the damper doesn’t close enough, the house may have drafts, which can result in high utility bills.

Embers from a fire can spread and cause nearby objects to catch fire. C…

Study: Top 15 Cities for Millennial Renters

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David Deem 714-997-3486 www.DeemTeam.com
By Jameson Doris
Texas is hot! Aside from the climate, the rental market is booming in the Lone Star State, with four of the top 15 cities for millennial renters located there, according to a RENTCafe study.

Analyzing data from 13 million rental applications across the U.S., national internet listing service RENTCafe found the cities where millennials applied the most for rentals this year compared to the past five years.

"We focused on large and mid-sized cities—where millennials represent 38.5 percent of applications—and ranked them based on each city's share," according to the company.
In Texas, the four cities that cracked the top 15 list are: Austin (No. 3), Houston (No. 4), San Antonio (No. 5) and Dallas (No. 12).

However, although Seattle, Wash., has topped the list for the past five years, Austin is set to overtake the West Coast city. The Texas capitol came in at No. 1 for 2020 and, according to RENTCafe, more than half of the re…

NAHB: Remodeling Industry Confidence Surges in Third Quarter

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David Deem 714-997-3486 Dave@DeemTeam.com
The National Association of Home Builders (NAHB) released its Remodeling Market Index (RMI) in the third quarter of 2020, posting a reading of 82. The finding is a signal of residential remodelers' strong confidence in their markets, for projects of all sizes. The demand for home improvement is robust given the importance of home for Americans as the economy recovers and adapts from the impacts of COVID-19.
"With refinancing activity surging, homeowners are investing in their homes, which is sustaining strong demand for remodeling," said NAHB Remodelers Chair Tom Ashley, Jr., CAPS, CGP, CGR, a remodeler from Denham Springs, La. "As a result of the rapid changes for work and the economy after the virus-induced recession, homes are serving multiple roles such as school, office and gym. This has directly increased the demand for improvements."

The RMI survey asks remodelers to rate five components of the remodeling market as &q…

Do You Need to Know More about Forbearance and Mortgage Relief Options?

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

Earlier this year when the nation pressed pause on the economy and unemployment rates jumped up significantly, many homeowners were immediately concerned about being able to pay their mortgages, and understandably so. To assist in this challenging time, two protection plans were put into place to help support those in need.First, there was a pause placed on initiating foreclosures for government-backed loans. This plan started on March 18, 2020, and it extends at least through December 31, 2020. Second, homeowners were able to obtain forbearance for up to 180 days, followed by a potential extension for up to another 180 days. This way, there is a relief period in which homeowners have the opportunity to halt payments on their mortgages for up to one year.Not Everyone Understands Their OptionsThe challenge, according to Matt Hulstein, Staff Attorney at non-profit Chicago Volunteer Legal Services, is, “A lot of homeowners aren’t aware of this optio…

Orange County Housing Summary: October 20, 2020

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David Deem 714-997-3486 Dave@DeemTeam.com
The active listing inventory increased by 20 homes in the past two-weeks, nearly unchanged, and now totals 4,173, its lowest level for mid-October since 2012. COVID-19 is not suppressing the inventory; in September there were 21% more homes that came on the market compared to last year. This trend evolved in August and continues to this day. Last year, there were 6,412 homes on the market, 2,239 additional homes, or 54% more.Demand, the number of pending sales over the prior month, decreased by 101 pending sales in the past two-weeks, down 3%, and now totals 3,153. COVID-19 currently has no effect on demand. Record low rates are fueling today’s exceptional demand. Last year, there were 2,251 pending sales, 29% fewer than today.The Expected Market Time for all of Orange County increased from 38 days to 40, a Hot Seller’s Market (less than 60 days). It was at 85 days last year, much slower than today.  For homes priced below $750,000, the market is…

Get Your Home Ready for Work and School This Winter

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

Although preparing your home for winter is a fairly consistent process year-to-year, many homes have seen significantly more use this year due to COVID-19 restrictions. If your home will serve as your office or school throughout the winter months, it’s important to address issues that may have been noticed but tolerable during winter's past.  

Consider these tips from the experts at the National Association of the Remodeling Industry to help ensure your home is ready before winter weather strikes.

Improve Indoor Air Quality
Beyond proper physical and structural considerations of winter preparations, the increased daily usage of your home naturally increases the importance of indoor air quality. Since windows and doors will likely be closed more often, moisture levels within your home can be significantly affected. Use a humidifier, if necessary, to maintain a relative humidity between 45-50%, which is healthier and can feel more comfortable. It …

Do You Have Enough Money Saved for a Down Payment?

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



One of the biggest misconceptions for first-time homebuyers is how much you’ll need to save for a down payment. Contrary to popular belief, you don’t always have to put 20% down to buy a house. Here’s how it breaks down.A recent survey by Point2Homesmentions that 74% of millennials (ages 25-40) say they’re interested in purchasing a home over the next 12 months. The study notes, “88% say they have significantly less savings than the average national down payment amount, which is $62,600.”Thankfully, $62,600 is not the amount every buyer needs for a down payment in the United States. There are many different options available, especially for first-time homebuyers (millennial or not). That amount can also be significantly less, depending on the purchase price of the house.According to the National Association of Realtors (NAR), “The median existing-home price for all housing types in August was $310,600.” (These are the latest numbers available). N…