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5 Things to Consider When Buying a Second Home

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David Deem 714-997-3486 Dave@DeemTeam.com Purchasing a second residence is always a significant decision, especially if you intend to use it as a vacation home. Of course, there are many considerations to take into account beforehand, not the least of which is accounting for the associated costs of owning multiple properties for personal use. When you feel fully prepared to start looking for a second home, here are several additional factors to consider. Cater to Your Lifestyle While your primary residence likely caters to essential aspects of your daily life, such as proximity to schools and jobs, luxury buyers often seek a second home that supports their personal interests and provides access to a coveted lifestyle. Whether that means living in a golf community, in the mountains, or along the coast, this home should provide you and your family with a place to make special memories. Accessibility Are you willing to hop on a plane every time you go to your vacation property? Or is it e

How Smart Is It to Buy a Home Today?

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David Deem 714-997-3486 Dave@DeemTeam.com   Whether you’re buying your first home or selling your current house, if your needs are changing and you think you need to move, the decision can be complicated. You may have to take personal or professional considerations into account, and only you can judge what impact those factors should have on your desire to move. However, there’s one category that provides a simple answer. When deciding to buy now or wait until next year, the financial aspect of the purchase is easy to evaluate. You just need to ask yourself two questions: Do I think home values will be higher a year from now? Do I think mortgage rates will be higher a year from now? From a purely financial standpoint, if the answer is ‘yes’ to  either   question , you should strongly consider buying now. If the answer to  both questions  is ‘yes,’ you should definitely buy now. Nobody can guarantee what home values or mortgage rates will be by the end of this year. The experts, however

Home Prices: What Happened in 2020? What Will Happen This Year?

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  David Deem 714-997-3486 Dave@DeemTeam.com The real estate market was on fire during the second half of 2020. Buyer demand was way up, and the supply of homes available for sale hit record lows. The price of anything is determined by the supply and demand ratio, so home prices skyrocketed last year. Dr. Lynn Fisher,  Deputy Director  of the  Federal Housing Finance Agency  (FHFA)  Division of Research and Statistics ,  explains : “House prices nationwide recorded the largest annual and quarterly increase in the history of the FHFA Home Price Index. Low mortgage rates, pent up demand from homebuyers, and a limited housing supply propelled every region of the country to experience faster growth in 2020 compared to a year ago despite the pandemic.” Here are the year-end home price appreciation numbers from the FHFA and two other prominent pricing indexes: Federal Housing Finance Agency   House Price Index Report : 10.8% CoreLogic   Home Price Insights : 9.2% S&P Case-Shiller   U.S. N
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David Deem 714-997-3486 Dave@DeemTeam.com What Are the Benefits of a 20% Down Payment? If you’re thinking of buying a home this year, you may be wondering how much money you  need  to come up with for your down payment. Many people may think it’s 20% of the loan to secure a mortgage. While there are plenty of lower down payment options available for qualified buyers who don’t want to put 20% down, it’s important to understand how a larger down payment can have great benefits too. The truth is, there are many  programs available  that allow you to put down as little as 3.5%, which can be a huge benefit to those who want to purchase a home sooner rather than later. Those who have served our country may also qualify for a Veterans Affairs Home Loan ( VA ) and may not need a  down payment . These programs have really cut down the savings time for many potential buyers, enabling them to start building family wealth sooner. Here are four reasons why putting 20% down is a good plan if you can

Is It Wise to Refinance Now?

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  David Deem 714-997-3486 Dave@DeemTeam.com Over the summer of 2020, refinances of existing mortgages rose over 200 percent, according to Realtor.com. Driven by the lowest interest rates and the highest home prices in recent history, many homeowners are opting to skip the frustrations of moving in favor of lowering their current monthly mortgage payments.  Investopedia.com warns that refinancing could be a bad idea if it’s done for the wrong reasons, such as taking cash out of your home to invest or consolidating credit card debt. Refinancing comes with considerable costs and fees—typically three to six percent of your loan amount, which can take as long as three years or more to pay back. If you decide to move sooner than three years into the new loan, you’ll lose money. You must also avoid the temptation to “reload” your paid-off credit cards with new balances.  Trading your 30-year mortgage in for a new 30-year loan also doesn’t make sense, as you’ll be adding more years of interest

5 Outdoor Improvements That Can Increase Your Home's Value

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  David Deem 714-997-3486 Dave@DeemTeam.com With historically low interest rates in place for the foreseeable future and a continued shortage of available housing inventory, if you’ve been thinking about putting your home on the market, there may be no time like the present. While your home’s value is largely determined by square footage, the number of bedrooms and bathrooms, and comparable sales in your neighborhood, there are certain steps you can take to help nudge the selling price up a bit. And there’s no better place to start than outside in order to elevate that all important curb appeal. Here are five yard and garden improvements, recommended by Consumer Reports, that can boost your home’s resale value: Improve your landscaping.  A yard that’s overgrown with unruly hedges, crowded trees and rampant weeds and grasses can be an instant turn-off to would-be buyers. Take the time to spruce up your yard by trimming back shrubs and cutting off dying tree branches, paying particular a

How to Design a Bedroom That's Modern and Cozy

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  David Deem 714-997-3486 Dave@DeemTeam.com Many homeowners are hesitant to install too much technology in the bedroom. After all, doing so can easily make your sleeping space feel impersonal or cold. When done correctly, however, it’s possible to harness the best of modern living while still keeping your bedroom cozy and inviting. Here are a few tips for doing just that. High-Tech Window Treatments There’s no denying that the right window treatments can warm up any room, both literally and visually. Whether you have blinds, shades or drapes, a smart system will allow you to take complete control via your mobile device so you can open them up without getting out of bed. You can even set a schedule to wake up to natural light each morning. Smart Bulbs Smart lights can also be controlled through your phone, but the benefits don’t end there. With the right bulbs, you can even adjust the color temperature as needed. From a gentle glow to a full-spectrum of vibrant shades, there are endless