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Showing posts from April, 2021

Don’t Sell on Your Own Just Because It’s a Sellers’ Market

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  David Deem 714-997-3486 Dave@DeemTeam.com In a sellers’ market, some homeowners might be tempted to try to sell their house on their own (known as  For Sale By Owner , or  FSBO ) instead of working with a trusted real estate professional. When the inventory of homes for sale is as low as it is today, buyers are eager to snatch up virtually any house that comes to market. This makes it even more tempting to  FSBO . As a result, some sellers think selling their house will be a breeze and see today’s market as an opportunity to  FSBO . Let’s unpack why that’s a big mistake and may actually cost you more in the long run. According to the Profile of Home Buyers and Sellers published by the  National Association of Realtors  (NAR), 41% of homeowners who tried to sell their house as a  FSBO  did so to avoid paying a commission or fee. In reality, even in a sellers’ market,  selling on your own likely means you’ll net a lower profit  than when you sell with the help of an agent. The NAR repo

Why This Is a Great Year to Sell Your Vacation Home

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  David Deem 714-997-3486 Dave@DeemTeam.com As vaccines are administered and travel resumes, many of us are beginning to plan for those long-awaited vacations we missed out on over the past year. Some households are focusing their efforts on buying a vacation home rather than staying in a hotel, too. The  National Association of Home Builders  (NAHB)  reports : “ Second homes  (i.e., homes sold to buyers who are not going to occupy the home year-round, but  use it as a vacation home , investment property, etc.)  account for 15 percent of new single-family home sales.” It’s not surprising that there’s an increase in demand for vacation homes. The majority of Americans are realizing they prefer to be around small groups, as shown in a recent  survey  from  The Harris Poll : “Social distancing taught consumers new things about how they like to socialize; (75%) said, ‘during COVID social distancing I realized I preferred smaller social gatherings at home or at friends’ place.’” Not only ar

Homeownership Is Full of Financial Benefits

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  David Deem 714-997-3486 Dave@DeemTeam.com A  Fannie Mae   survey  recently revealed some of the most highly-rated benefits of homeownership, which continue to be key drivers in today’s power-packed housing market. Here are the top four financial benefits of owning a home according to consumer respondents: 88% - a better chance of saving for retirement 87% - the best investment plan 85% - the chance to be better off financially 85% - the chance to build up wealth Additional financial advantages of homeownership included in the survey are having the best overall tax situation and being able to live within your budget. Does homeownership actually give you a better chance to build wealth? No one can question a person’s unique feelings about the importance of homeownership. However, it’s fair to ask if the numbers justify homeownership as a  financial  asset. Last fall, the  Federal Reserve  released the  Survey of Consumer Finances , a report done every three years, with the latest editi

Multigenerational Housing Is Gaining Momentum

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David Deem 714-997-3486 Dave@DeemTeam.com Some Highlights If your house is feeling a little cramped with the addition of adult children or aging parents, it might be time to consider a move-up into a  multigenerational home  that better suits your changing needs. With benefits that include a combined homebuying budget and shared caregiving duties, an increasing number of households are discovering the value of a multigenerational home. With such high demand for houses today, now is a great time to sell so you can upgrade to a multigenerational home that may better suit your evolving needs. www.DeemTeam.com DRE#01266522  

Some Buyers Prefer Smaller Homes

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David Deem 714-997-3486 Dave@DeemTeam.com Over the past year, we’ve had plenty of opportunities to reflect on what we consider most important in our lives. The place we call home is one of the biggest things many of us are reevaluating. George Ratiu,  Senior Economist  at  realtor.com,  shares: “The very nature of the pandemic, through the health implications, social distancing, and need to isolate, has really brought a central focus on the importance of home for most Americans…In a sense, it has elevated real estate markets as a centerpiece of our lives.” For some, this has spurred an interest in making a move to a home that better suits our changing needs. In a recent  study  on today’s homebuyer preferences, the  National Association of Home Builders  (NAHB) states: “When asked more specifically how the pandemic may have impacted their preference for home size … 21% or about 1 out of every 5 buyers, do want a larger home now as a direct result of the health crisis, while another seg

93% of Americans Believe a Home Is a Better Investment Than Stocks

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David Deem 714-997-3486 Dave@DeemTeam.com A recent  Survey of Consumer Finances  study released by the  Federal Reserve  reveals the net worth of homeowners is  forty times greater than that of renters . If you’re wondering if homeownership is a good investment, the study clearly answers that question, and the answer is yes. Do Americans believe a home is a better investment than stocks? In a post on the  Liberty Street Economics  blog, the  Federal Reserve Bank of New York  notes that  93.3% of Americans  believe buying a home is  definitely  or  probably  a better investment than buying stocks. Here’s how the results break down: The survey also shows a wide range of reasons why Americans feel that way (respondents were able to pick more than one answer): Bottom Line The data show how strongly Americans believe in homeownership as an investment. That belief is warranted. The  Liberty Street Economics  blog put it best by saying: “Housing represents the largest asset owned by most hous

4 Major Reasons Households in Forbearance Won’t Lose Their Homes to Foreclosure

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  David Deem 714-997-3486 Dave@DeemTeam.com There has been a lot of discussion as to what will happen once the 2.3 million households currently in forbearance no longer have the protection of the program. Some assume there could potentially be millions of foreclosures ready to hit the market. However, there are four reasons that won’t happen. 1. Almost 50% Leave Forbearance Already Caught Up on Payments According to the  Mortgage Bankers Association  (MBA), data through March 28 show that 48.9% of homeowners who have already left the program were current on their mortgage payments when they exited. 6% made their monthly payments during their forbearance period 7% brought past due payments current 6% paid off their loan in full This doesn’t mean that the over two million still in the plan will exit exactly the same way. It does, however, give us some insight into the possibilities. 2. The Banks Don’t Want the Houses Back Banks have learned lessons from the crash of 2008. Lending institu

Spruce Up for Spring: Fresh Ideas for Home Upgrades

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David Deem 714-997-3486 Dave@DeemTeam.com Spring means it’s time to start sprucing up your home and garden with a little TLC inside and out. If you’re unsure where to begin, consider these tips: Make function a priority.  While aesthetic changes may boost value and please the eye, be sure to consider upgrades that make living easier, like organization units that give you more space or upgrades that create additional living space. Keep budget in mind.  Make a list of the projects you’d like to complete and estimate how much each will cost. Use the list to determine what you can afford to complete now. Do your research.  If you’ll be making a significant purchase such as a new vacuum or grill, be sure to explore your options, read reviews and shop around for the best prices for greater confidence in what you choose. Set yourself up for a more enjoyable spring with more home and garden tips at eLivingtoday.com. Hands Free Spring Cleaning For busy households, an all in one vacuum and mop r

4 Home Features That Need to Be in Top Condition to Fight the Summer Heat

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David Deem 714-997-3486 Dave@DeemTeam.com By Anita Ginsburg If hot weather is just around the corner in your area, you need to be sure that your home is ready for the summer heat. With these simple upgrades and repairs, you'll have peace of mind knowing that your home will remain cool and comfortable no matter what the weather is like outside: Roof When it comes to your home's efficiency, few things are as important as your roof. It protects your home against harsh UV rays and plays a major role in the overall insulation of the property. That is just one of the many reasons why you should carefully inspect the inside and outside of your home at least a few times every year. If you notice any signs of damage, contact a team of roofing contractors to address those issues as soon as possible. HVAC System It should come as no surprise that your HVAC system is going to have a big impact on the temperature and humidity inside your home. As a general rule, you should plan on having yo

How to Improve Your Home’s Air Quality

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  David Deem 714-997-3486 Dave@DeemTeam.com As Americans continue to spend more time at home, it’s important to support the health and comfort of those living spaces. Regularly cleaning and disinfecting surfaces is an important step, but one often overlooked aspect of a home’s health and comfort is its air quality. Proactively addressing potential air quality issues can result in cleaner air and more comfortable living. There are multiple factors that may affect your home’s air quality.  Indoor particulate matter consists of the visible and invisible airborne particles in the air that can enter your nose and lungs, some triggering allergies, asthma and other potential health problems. Carbon monoxide, sometimes called the “silent killer,” is a colorless, odorless gas that can build up to dangerous levels if not properly ventilated, causing headaches, drowsiness and, in some cases, death. Too much humidity can encourage the growth of bacteria and mold. Too little humidity can dry out yo

How to Redesign Your Dining Room

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  David Deem 714-997-3486 Dave@DeemTeam.com I f you’re unhappy with the current layout and furnishings in your dining room, or if you would just like to switch things up, you have many options. Think about how you typically use the room, any problems you have encountered with its design, and ways to make it more functional and attractive. How Do You Use the Dining Room? Some families think of the dining room as a place to host formal gatherings and want its design to reflect that purpose. Others use the dining room on a regular basis for ordinary family meals and want a space that is functional and that has a relaxed atmosphere.  If you use the dining room for daily family dinners, choose a table that’s large enough for your immediate family and guests. If you use the room only for holiday gatherings and other special events, a long table that can accommodate a large group may be the best choice. If you would prefer to seat guests in smaller groups to promote more intimate conversation

Should You Pay Off Your Mortgage Before You Retire?

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David Deem 714-997-3486 Dave@DeemTeam.com Your mortgage is probably your largest monthly expense. When you retire, you will have to get by on a fixed income. Eliminating your home loan payments before you stop working can make it easier to make ends meet after you retire. Before you decide to put extra money toward your mortgage, however, take a careful look at your entire financial picture to figure out if that’s the best option. Reasons to Pay off Your Mortgage Early The average homeowner spends tens of thousands of dollars in interest over the life of a mortgage. Paying off the loan early can dramatically reduce the total amount you will spend on interest. Many people find it difficult to adjust to living on a fixed income after they retire and realize that they underestimated their costs or didn’t save enough. Not having to worry about monthly home loan payments when you’re no longer working can give you peace of mind.   When to Focus on Retirement First If you started saving for r