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Showing posts from July, 2020

5 Tips for Creating a Low-Maintenance Home

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

Because most people are spending more time at home than usual, ensuring your living spaces are clean and uncluttered can make being home more comfortable and enjoyable. However, not everyone has the time, or desire, to devote to constant maintenance.

A shift toward less work around the house just takes some prep work and smart tools.

Organize and declutter. Working your way around stacks of things you don’t use frequently, or need at all, can make it difficult to keep your home tidy. Cut back on the clutter by sorting items into categories such as things you use often, those you rarely use and things you don’t need any longer. Donate what you don’t need then work on organizing the rest. Invest in drawers, shelves and storage bins to ensure everything has a place, and only leave out the items you use frequently.

Automate your cleaning. You can simplify your chores by putting technology to work for you. One example is an all-in-one robotic vacuum clea…

How to Properly Fix That Loose Hinge

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


Let’s say you’re about to host an open house or potential buyers are scheduled to visit your for-sale home. You go to open a door to a closet or bedroom and you discover the door is loose, or even off a hinge.

Don’t despair, this is actually an easy fix that even the least handy of people can repair in just a few minutes, and here’s how to do it.

The Tools for the Job
All you need are a screwdriver (a powered screwdriver will make this chore a bit easier), screws, carpenter’s glue and wooden matches.

Remove the Screws
If just one hinge plate is loose, you may be able to make the repair without taking the door down. Having someone hold the door in place for you as you make the repair will be a big help. Use the screwdriver to remove the screws from their base. They may be so loose that you can just pull them out without a tool. Also, consider buying new screws, they’re not expensive at all. Be sure to buy wood screws.

Fill the Hole
Start by putting carpe…

Should You Install a Sprinkler System?

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

If you don’t have the time to water your yard or don’t want to deal with the hassle, installing a sprinkler system could make things easier. It could be pricey and you would need to take precautions to prevent damage and expensive repair bills.

Reasons to Install Sprinklers
The primary reason why homeowners install sprinklers is convenience. You could program an irrigation system to water your lawn on a schedule so that you wouldn’t have to remember to do it, take time out of your day to spray the yard with a hose and hope that each area got the right amount of water.

The best time to water a lawn is before sunrise. That prevents the water from evaporating too quickly and gives it plenty of time to be absorbed by the grass. If you’re not typically an early riser, getting up before dawn to water your lawn probably doesn’t sound appealing. With a sprinkler system, you wouldn’t have to.

A sprinkler system could be set up to deliver different amounts of …

Orange County Housing Summary: July 28, 2020

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David Deem 714-997-3486 Dave@DeemTeam.com
The active listing inventory decreased by 55 homes in the past two-weeks, down 1%, and now totals 4,590, its lowest level for July since tracking began in 2004. In the past four-weeks, 6% fewer homes were placed on the market compared to the prior 5-year average. It was a 54% difference at the end of April; thus, COVID-19’s grip on suppressing the inventory is diminishing. Last year, there were 7,601 homes on the market, 3,011 additional homes, or 66% more.Demand, the number of pending sales over the prior month, increased by 150 pending sales in the past two-weeks, up 5%, and now totals 3,200, its highest level since October 2012. COVID-19 currently has no effect on demand. Last year, there were 2,505 pending sales, 22% fewer than today.The Expected Market Time for all of Orange County decreased from 46 days to 43, a Hot Seller’s Market (less than 60 days). It was at 91 days last year, much slower than today.  For homes priced below $750,000, th…

A Market Turnaround: Existing-Home Sales Make Record Climb in June

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David Deem 714-997-3486 Dave@DeemTeam.com
According to the National Association of REALTORS® (NAR), existing home sales increased at a record pace in June, a significant turnaround afterthree consecutive months of sales declinesdue to the pandemic. Completed transactions for all property types increased 20.7 percent to a seasonally adjusted rate of 4.72 million. Year-over-year, however, existing-home sales are still down 11.3 percent.
The median sales price for existing homes was $295,300 in June, up 3.5 percent YoY, and prices increased across every region. Unsold inventory is currently at 4.0-months supply, down from 4.8 in May and 4.3 in June 2019. Days on market was at 24 for June, down from 26 days in May and 27 days in June 2019.

For single-family properties, the seasonally adjusted annual rate for sales was 4.28 million in June, up 19.9 percent in May and down 9.9 percent YoY. The median price was $289,600—a 3.5 percent increase YoY. For condos and co-ops, sales recorded at a season…

What You Should Know About Sewer Scope Inspections

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David Deem 714-997-3486 Dave@DeemTeam.com By the Experts at HomeTeam
Summer is a popular time to buy a new house, and with that comes home inspections. You may think of plumbing when considering a home inspection, but getting your lateral sewer line inspected often doesn't come top of mind. It is, however, a very important ancillary service. A sewer scope inspection is performed by using a tiny camera to video record the lateral sewer line in a home that leads from the foundation of the house to the main sewer line. The recording will show any potential problems with the pipeline.  Sewer scope inspections are typically recommended for homes older than 20 years. There are benefits to getting a sewer scope done and some risks if you forego it.

Causes

There are many different reasons why your lateral sewer line could have problems. One of them is tree roots. The roots like to soak up the water the pipes carry—they find a small crack in the line and push their way through. This can block th…

4 Summer Home Tasks You May Have Forgotten to Add to Your To-Do List

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


By Brentnie Daggett
Although many associate cleaning with springtime, summer cleaning tasks deserve their time in the sun as well. With warmer temperatures and longer days ahead, there's no better time to open the windows, throw on the rubber gloves and get to work. Deep cleaning your home and getting rid of dirt and dust is important, but don't forget to take care of heavy-duty home maintenance tasks as well.

Seasonal home maintenance is crucial to keeping your property in good shape and avoiding things like moisture damage that may have occurred during the winter months. As you cross items off your summer maintenance checklist this year, be sure to add these key tasks that may not have crossed your mind:

Pull a Sherlock Holmes
There's more to fostering a great environment in your home than simply finding the right style of decor. Taking the time to perform annual inspections of your home can save you time and money, and avoid safety iss…

Home Sales Hit a Record-Setting Rebound

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



With a worldwide health crisis that drove a pause in the economy this year, the housing market was greatly impacted. Many have been eagerly awaiting some bright signs of a recovery. Based on the latest Existing Home Sales Report from the National Association of Realtors (NAR), June hit a much-anticipated record-setting rebound to ignite that spark.According to NARhome sales jumped 20.7% from May to a seasonally-adjusted annual rate of 4.72 million in June:“Existing-home sales rebounded at a record pace in June, showing strong signs of a market turnaround after three straight months of sales declines caused by the ongoing pandemic…Each of the four major regions achieved month-over-month growth.”This significant rebound is a major boost for the housing market and the U.S. economy. According to Lawrence Yun, Chief Economist for NAR, the momentum has the potential to continue on, too:“The sales recovery is strong, as buyers were eager to purchase h…

Two Reasons We Won’t See a Rush of Foreclosures This Fall

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



The health crisis we face as a country has led businesses all over the nation to reduce or discontinue their services altogether. This pause in the economy has greatly impacted the workforce and as a result, many people have been laid off or furloughed. Naturally, that would lead many to believe we might see a rush of foreclosures like we saw in 2008. The market today, however, is very different from 2008.The concern of more foreclosures based on those that are out of work is one that we need to understand fully. There are two reasons we won’t see a rush of foreclosures this fall: forbearance extension options and strong homeowner equity.1. Forbearance ExtensionForbearance, according to the Consumer Financial Protection Bureau (CFPB), is when your mortgage servicer or lender allows you to temporarily pay your mortgage at a lower payment or pause paying your mortgage.” Thisis an option for those who need immediate relief. In today’s economy, the …

A Remarkable Recovery for the Housing Market

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



For months now the vast majority of Americans have been asking the same question: When will the economy turn around? Many experts have been saying the housing market will lead the way to a recovery, and today we’re seeing signs of that coming to light. With record-low mortgage rates driving high demand from potential buyers, homes are being purchased at an accelerating pace, and it’s keeping the housing market and the economy moving.Here’s a look at what a few of the experts have to say about today’s astonishing recovery. In more than one instance, it’s being noted as truly remarkable.Ali Wolf, Chief Economist, Meyers Research"The housing recovery has been nothing short of remarkable...The expectation was that housing would be crushed. It was—for about two months—and then it came roaring back.”Fannie Mae“Recent home purchase measures have continued to show remarkable strength, leading us to revise upward our home sales forecast, particularly…

Mortgage Rates Fall Below Three Percent in 50 Years

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

Mortgage rates fell below 3 percent for the first time in 50 years. The drop has led to increased homebuyer demand and, these low rates have been capitalized into asset prices in support of the financial markets. However, the countervailing force for the economy has been the rise in new virus cases which has caused the economic recovery to stagnate, and this economic pause puts many temporary layoffs at risk of ossifying into permanent job losses.
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Add a Soothing Water Structure to Your Backyard, Without Breaking the Bank

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



DIY Water Feature for Yard The soothing sound of a bubbling fountain or a trickling waterfall can have an immediate calming and relaxing effect on our minds and bodies. Even with a small outdoor space… or a small budget, you can create a DIY one-of-a-kind water element, without breaking the bank. It’s amazing what you can create with just a few tools, pots, and plants that can rival more expensive store-bought renditions.
Don’t be daunted by the “DIY” concept. A small-scale water feature is, in fact, an easy DIY project that will add a lot of peacefulness to your backyard, or curb appeal to your front yard. The water element you create can be in the form of a waterfall, bubbler, “pondless” pond, or even a simple bird bath. Before starting your project, consider factors such as available outdoor space, water supply, electricity supply, and whether children or pets will be nearby.
Why Add a DIY Water Feature? Here are a few of the positive aspects to …

Market Recovery Survey: Buyers Making Their Way Back

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David Deem 714-997-3486 Dave@DeemTeam.com
The real estate rebound is coming as buyers continue making their way back onto the market, according to the recently released2020 Market Recovery Surveyfrom the National Association of REALTORS® (NAR).
The survey, which received over 2,000 responses from REALTORS®, shows that market recovery is happening at this very moment. Of those surveyed, 92 percent said their buyers have either already returned to the market or they never left.

Seller activity has increased as well. Eighty-nine percent of REALTORS® said their clients have either returned to the market or they never took their home off the market. However, the seller comeback has been slower in small and rural markets.

"The residential market has seen a swift rebound of activity as numerous states have begun to ease mandatory stay-at-home orders," said Lawrence Yun, NAR's chief economist. "Many potential buyers and home sellers were kept at bay in the initial stages of the c…

Buyers: Are You Ready for a Bidding War?

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



With businesses reopening throughout the country and some experts indicating early signs of a much-anticipated economic recovery, more homebuyers are actively entering the housing market this summer. Today, housing is truly driving the U.S. economy forward. With so many buyers looking for homes to purchase and so few houses for sale right now, there’s a disconnect between supply and demand. This imbalance is pushing home prices upward while driving more bidding wars and multiple-offer scenarios. Danielle Hale, Chief Economist at realtor.com explains:“People are surprised that prices are rising, not falling, because in the last recession home prices fell, the difference this time is the severe shortage of homes for sale…We are seeing bigger price increases with [a limited] number of homes...That is likely to lead to more competition and potentially multiple offers and bidding wars.”According to the recent Realtors Confidence Index (RCI) survey con…

Orange County Housing Summary July 14, 2020

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David Deem 714-997-3486 Dave@DeemTeam.com
·The active listing inventory decreased by 65 homes in the past two-weeks, down 1%, and now totals 4,645, its lowest level for July since tracking began in 2004. In the past four-weeks, 12% fewer homes were placed on the market compared to the prior 5-year average. It was a 54% difference at the end of April; thus, COVID-19’s grip on suppressing the inventory is diminishing. Last year, there were 7,561 homes on the market, 2,916 more than today, a 63% difference.

·Demand, the number of pending sales over the prior month, increased by 75 pending sales in the past two-weeks, up 3%, and now totals 3,050, the highest July level since 2012. COVID-19 currently has no effect on demand. Last year, there were 2,461 pending sales, 19% fewer than today.

·The Expected Market Time for all of Orange County decreased from 47 days to 46, a Hot Seller’s Market (less than 60 days). It was at 92 days last year, much slower than today

·For homes priced below $750,000…