David Deem 714-997-3486 Dave@DeemTeam.com By Jameson Doris Among all the uncertainties that the past 14 months has brought to the U.S. housing market, one of the few things that has remained constant is the value that home improvement projects add to a home. Exterior home improvement projects, in particular, took center stage in 2021, according to Remodeling magazine's  Cost vs. Value Report .   Related:  3 Renovations That Can Help You Sell Your Home Faster   Of the top 12 projects that garner the highest return on investment (ROI) this year, 11 of them are exterior projects. The lone outlier? The always-popular minor kitchen remodel ranked at No. 3, with 72% of the cost for such a job recovered.   A key takeaway from this year’s report is the impact that rising raw materials costs have had on home improvement projects. Since 2014, prices have risen across the board for all the projects ranked in the Cost vs. Value Report, but this year has seen a stark ...

  David Deem 714-997-3486 Dave@DeemTeam.com The last year has put emphasis on the importance of one’s home. As a result, some renters are making the jump into homeownership while some homeowners are re-evaluating their current house and considering a move to one that better fits their current lifestyle. Understanding how housing affordability works and the main market factors that impact it may help those who are ready to buy a home narrow down the optimal window of time in which to make a purchase. There are three main factors that go into determining how affordable homes are for buyers: Mortgage Rates Mortgage Payments as a Percentage of Income Home Prices The  National Association of Realtors  (NAR) produces a  Housing Affordability Index . It takes these three factors into account and determines an overall affordability score for housing. According to NAR, the index: “…measures whether or not a typical family earns enough income to qualify for a mortgage loan on ...

  David Deem 714-997-3486 Dave@DeemTeam.com As we enter the middle of 2021, many are wondering if we’ll see big changes in the housing market during the second half of this year. Here’s a look at what some experts have to say about key factors that will drive the industry and the economy forward in the months to come. realtor.com “. . . homes continue to sell quickly in what’s normally the fastest-moving time of the year. This is in contrast with 2020 when homes sold slower in the spring and fastest in September and October. While we expect fall to be competitive, this year’s seasonal pattern is likely to be more normal, with  homes selling fastest from roughly now until mid-summer .” National Association of Realtors  (NAR) “ Sellers who have been hesitant  to list homes as part of their personal health safety precautions  may be more encouraged to list and show their homes  with a population mostly vaccinated by the mid-year.” Danielle Hale,  Chief Ec...

  David Deem 714-997-3486 Dave@DeemTeam.com Today’s housing market is full of unprecedented opportunities. High buyer demand paired with record-low housing inventory is creating the ultimate sellers’ market, which means it’s a fantastic time to sell your house. However, that doesn’t mean sellers are guaranteed success no matter what. There are still some key things to know so you can avoid costly mistakes and win big when you make a move. 1. Price Your House Right When inventory is low, like it is in the current market, it’s common to think buyers will pay whatever we ask when setting a listing price. Believe it or not, that’s not always true. Even in a sellers’ market, listing your house for the right price will maximize the number of buyers that see your house. This creates the best environment for bidding wars, which in turn are more likely to increase the final sale price. A real estate professional is the best person to help you set the best price...

  David Deem 714-997-3486 Dave@DeemTeam.com The level of equity homeowners have is at an all-time high. According to the  U.S. Census ,  over 38%  of owner-occupied homes are owned free and clear, meaning they don’t have a mortgage. Those with a mortgage are seeing their equity skyrocket too. Every time real estate values increase, homeowners get a dollar-for-dollar gain in their home equity. According to the first-quarter  2021 U.S. Home Equity Report  from  ATTOM Data Solutions : “17.8 million residential properties in the United States were considered equity-rich, meaning that the combined estimated amount of loans secured by those properties was 50 percent or less of their estimated market value. The count of equity-rich properties in the first quarter of 2021 represented 31.9 percent, or about one in three, of the 55.8 million mortgaged homes in the United States. That was up from 30.2 percent in the fourth quarter of 2020, 28.3 percent in the thi...

  David Deem 714-997-3486 Dave@DeemTeam.com One of the biggest questions in real estate today is, “When will sellers return to the housing market?” An ongoing shortage of home supply has created a hyper-competitive environment for hopeful buyers, leading to the ultimate sellers’ market. However, as the economy continues to improve and more people get vaccinated, more sellers may finally be in sight. The  Home Purchase Sentiment Index  (HPSI) by  Fannie Mae  recently noted the percentage of consumer respondents who say it’s a good time to sell a home increased from 61% to 67%. Doug Duncan , Senior Vice President and Chief Economist  at  Fannie Mae ,  indicates : “ Consumer positivity regarding home-selling conditions nearly matched its all-time high.”  ( See graph below ): Fannie Mae  isn’t the only expert group noticing a rise in the percentage of people thinking about selling. George Ratiu,  Senior Economist  at  realtor....

  David Deem 714-997-3486 Dave@DeemTeam.com Last month, in a post on the  Liberty Street Economics  blog, the  Federal Reserve Bank of New York  noted that Americans believe  buying a home  is definitely or probably a better investment than buying stocks. Last week, a  Gallup Poll  reaffirmed those findings. In an  article  on the current real estate market,  Gallup  reports: “Gallup usually finds that Americans regard real estate as the best long-term investment among several options -- seeing it as superior to stocks, gold, savings accounts and bonds. This year, 41% choose real estate as the best investment, up from 35% a year ago, with stocks a distant second.” Here’s the breakdown: The article goes on to say: “The 41% choosing real estate is the highest selecting any of the five investment options in the 11 years Gallup has asked this question.” Is real estate really a secure investment right now? Some question America...

  David Deem 714-997-3486 Dave@DeemTeam.com I n a world dominated by technology, kids are consumed by their phones, tablets and televisions. Designating limited screen time is becoming tougher and enjoying old school, outdoor playtime has been put on the back burner. So, why not spruce up your own backyard and inspire your children to get outside and away from their screens? With these backyard upgrades, you can help your kids appreciate the great outdoors. Here are some ideas that will help everyone get outside, enjoy the sunshine and connect with nature.  Treehouse For kids, there’s almost nothing more fun, or classic, than climbing a tree. And having a hangout in the treetops makes it that much better! Let your kids decorate to their liking, making this their own nature-filled sanctuary space. You can find instructions, materials and tools to make this a DIY project at your local hardware store, or hire a pro for a more luxurious look.  Swingset A staple in almost ever...

  David Deem 714-997-3486 Dave@DeemTeam.com Maybe you rent a small apartment in the city. Or maybe your forever home features smaller rooms. Instead of spending more money on a larger space or knocking down a wall, you can make a room feel larger with a mix of design and creativity. Maximize every inch of your space with these beginner and budget-friendly decorating tips.  Hang Curtains High Instead of mounting your curtain rods just above the top of your windows, move up about five to six inches higher. This will create length to the wall, giving off the impression that the ceiling is higher than it actually is. Be sure to use curtains that reach the floor to highlight this illusion. Bring in the Light Darkness can be univiting and create the sense of a small space. In regards to your curtains, letting in a lot of natural light is a great way to make a room feel larger. Use sheer panels instead of opaque or light blocking curtains. Choosing warming LED light bulbs for lamps a...

  David Deem 714-997-3486 Dave@DeemTeam.com Between dishwashers and store-bought cleaners, modern cleaning tools and solutions have made the task easier than ever before. These five old-fashioned cleaning tips are useful even in the modern world and won’t go out of style anytime soon. Remove Water Rings on Furniture Water rings on wood furniture have been the bane of homeowners through the ages. Thankfully, this decades-old trick is effective. Simply cover the ring with a layer of mayonnaise, let it sit for a few minutes and scrub the surface.  Use Newspaper to Keep Windows Sparkling For a streak-free shine, don’t opt for paper towels that will leave lint behind. Instead, take a page from Grandma’s book and use a newspaper. With a similar streak-free shine to modern microfiber cloths, reuse Sunday’s paper to get your windows sparkling. Get Stains Out With Sunshine Don’t want to use a chemical bleach to get a stain out of your white clothing or sheets? Use the sunshine to natur...

  David Deem 714-997-3486 Dave@DeemTeam.com Whether you’ve been in your kitchen for one year or ten, every kitchen can use a little enhancement from time to time. If you want to get the most out of your kitchen without starting a big project, these items will serve you well. Valance Curtain Whether your kitchen has a sleek modern aesthetic or a cozy country vibe, a valance curtain will warm your space and allow you to let your style shine. In a modern kitchen, a trendy pattern or simple white valance curtain can keep your space from looking too sterile.  Movable Kitchen Island If you need extra counter space but don’t want to commission a remodel of your kitchen, a store-bought kitchen island is the perfect solution. Generally made with caster wheels on one side and solid legs on the other, a butcher block topped kitchen island will give you the advantages of a traditional built-in island with the added benefits of relative portability. Want your kitchen island to move around ...

  David Deem 714-997-3486 Dave@DeemTeam.com When buying a home, it’s important to have a budget and make sure you plan ahead for certain homebuying expenses. Saving for a  down payment  is the main cost that comes to mind for many, but budgeting for the  closing costs  required to get a mortgage is just as important. What Are Closing Costs? According to  Trulia : “ When you close on a home, a number of fees are due. They typically range from 2% to 5% of the total cost of the home,  and can include title insurance, origination fees, underwriting fees, document preparation fees, and more .” For example, for someone buying a $300,000 home, they could potentially have between $6,000 and $15,000 in closing fees. If you’re in the market for a home above this price range, your closing costs could be greater. As mentioned above,  closing costs are typically between 2% and 5% of your purchase price.   Trulia  gives more great advice, explaining: ...

David Deem 714-997-3486 Dave@DeemTeam.com Homebuyers are flooding the housing market right now to take advantage of record-low mortgage rates. Many have a sense of urgency to find a home soon since experts forecast a steady rise in both rates and home prices this year and next. As a result, buyer demand greatly outweighs the current housing supply. Here’s how the shortage of houses for sale sets yours up to be the oasis in an inventory desert. According to the  National Association of Realtors  (NAR), today’s housing inventory sits at an incredibly low 2.1-month supply, far below the 6-month mark for a neutral market. Inventory of single-family homes a year ago was already very low, and as you can see in the graph below, this year’s levels are even lower: Due to these market conditions, today’s buyers frequently enter fierce bidding wars while trying to purchase a home. This in turn drives up home prices and gives sellers incredible...