David Deem 714-997-3486 Dave@DeemTeam.com Equity continues to rise, helping American homeowners secure a much more stable financial future. According to the most recent data from  CoreLogic , the average homeowner gained  $9,800  in equity over the past year. In addition, experts project 2020 home prices to continue  rising . With prices going up, equity gains will also keep accelerating. Black Knight just  reported : “The annual percent change in the overall median existing single-family-home price has skyrocketed in the past several months, with recent numbers at three to five times higher than rates seen in the past several years.” Jeff Tucker,  Senior Economist  at  Zillow , just  qualified  recent price increases as  “jaw-dropping ” and  “within a hair's breadth of double-digit year-over-year appreciation.” Knowing  equity  will help enable many homeowners to better survive the economic distress caused by ...

  David Deem 714-997-3486 Dave@DeemTeam.com By Anita Ginsburg After a sizzling summer, fall has finally arrived. In many parts of the country, that means getting out the blankets and turning on the heat. However, to keep you and your family warm, there may need to be some home maintenance to take care of first. In particular, you should prepare your water heater for the impending cold water to keep it running all season long. Here are some water heater maintenance steps you should take: Check the Temperature and Pressure Water temperature plays a huge role in the lifespan of your water heater. When the temperature and water pressure are too high, it can cause a slew of mechanical problems. Leaks may become more frequent, your water bills may be higher and the water heater may not last as long. It's recommended that you set your water heater's temperature to 120 degrees Fahrenheit. The pressure should be between 40 and 80 psi. Wash Out the Water Tank It's surprising how quic...

  David Deem 714-997-3486 Dave@DeemTeam.com Freddie Mac recently released the results of its Primary Mortgage Market Survey® (PMMS®), showing that the 30-year fixed-rate mortgage (FRM) averaged 2.80 percent, the lowest rate in the survey's history, which dates back to 1971.   "Mortgage rates remain very low, providing homeowners who have not already taken advantage of this environment ample opportunity to do so," said Sam Khater, Freddie Mac's chief economist. "Mortgage rates today are on average more than a full percentage point lower than rates over the last five years. This means that most low- and moderate-income borrowers who purchased during the last few years stand to benefit by exploring refinancing to lower their monthly payment."   - The 30-year fixed-rate mortgage averaged 2.80 percent with an average 0.6 point for the week ending Oct. 22, 2020, down from last week when it averaged 2.81 percent. A year ago at this time, the 30-year FRM avera...

David Deem 714-997-3486 Dave@DeemTeam.com By  Lauren Sieben The truth is, many of us unknowingly live alongside bugs, mice, and plenty of other uninvited guests lurking in our homes. And when it comes to pest control, ignorance is  not  bliss. You need to know what you’re up against in order to prevent and evict unwanted critters.   We talked with entomologists and experts to learn everything you could be doing that unwittingly invites the creepy crawlers in. Here's what they say are the top mistakes you might be making. 1. Being reactive—instead of proactive—about pest control If you notice an ant in the kitchen, it might not send you into full mitigation mode. Likewise, if you see one little mouse scurry across the garage, maybe you set a trap and move on with your day. “Sometimes that works—and other times it may only be the beginning of the infestation,” says  Todd Johnson , associate certified entomologist and technical services manager for Western Extermin...

  David Deem 714-997-3486 Dave@DeemTeam.com The 2020 housing market has surpassed all expectations and continues to drive the nation’s economic recovery. The question is, will this positive trend continue throughout the rest of the year, especially given the uncertainty around the current health crisis, the upcoming election, and more? Here’s a look at what several industry-leading experts have to say. Lawrence Yun,  Chief Economist,   National Association of Realtors “Home sales continue to amaze, and there are plenty of buyers in the pipeline ready to enter the market… Further gains in sales are likely for the remainder of the year,  with mortgage rates hovering around 3% and with continued job recovery." Frank Martell,  President  and  CEO ,  CoreLogic "Homeowners’ balance sheets continue to be bolstered by home price appreciation, which in turn mitigated foreclosure pressures…Although the exact contours of the economic recovery remain uncertai...

  David Deem 714-997-3486 Dave@DeemTeam.com If you’re planning to remodel your master bathroom, you may be thinking about installing a double vanity. It might make it easier to get ready and prevent some arguments with your partner, but it might also take up too much space or be too expensive.  What is a Double Vanity? A double vanity usually consists of two sinks placed side by side. In most cases, each sink has its own cabinet or drawers for storage. Each sink may have a separate mirror or one long mirror may extend above both sinks. You could choose a prefabricated double vanity or have one custom made to suit your preferences and your bathroom’s design. Pros and Cons of a Double Vanity A double vanity can be helpful for couples who get ready for work at the same time, who get frustrated taking turns in the bathroom or who get in each other’s way when both are in a hurry. Having separate areas can also be a good idea for couples who have different standards in terms of clea...

  David Deem 714-997-3486 Dave@DeemTeam.com Overstuffed and disorganized drawers can be frustrating, especially in the bedroom. Whether you're searching for the perfect top or hunting for a matching set of socks, it’s never easy finding a needle in the haystack, especially when the haystack is a pile of mismatched clothes. Learn how to properly organize your dresser drawers with these simple tips.  Start at Empty The first rule of decluttering is to clear the space of all items. Start by removing all of the clothing in each drawer. Starting with a blank canvas will help to not only organize, but decide whether or not you want each item in a drawer, on a hanger or in a donation box. Declutter and Donate Now that you have emptied your dresser drawers, it’s time for the hard part—deciding what to keep and what to let go of. There are many ways people navigate this process, but one in particular comes to mind. Do you wear it? Look at each piece and determine whether or not you’ve ...

  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 c...

  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 RENTCaf...

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 a...

  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 Options The challenge, according to Matt Hulstein,  Staff Attorney  at non-profit  Chicago Volunteer Legal Services...

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 ye ar, 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...

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 comfor...