David Deem 714-997-3486 Dave@DeemTeam.com The active listing inventory shed 336 homes in the past two weeks, plunging 19%, and now totals 1,457 homes, its lowest level since tracking and its largest drop of the year. In October, there were 15% fewer homes that came on the market compared to the 3-year average prior to COVID (2017 to 2019), 441 less. Last ye ar, there were 3,469 homes on the market, 2,012 additional homes, or 138% more .   Demand, the number of pending sales over the prior month, decreased by 101 pending sales in the past two weeks, down 4%, and now totals 2,221. Last year, there were 2,621 pending sales, 18% more than today due to a four-month delay in the Spring Market because of COVID.   With the supply plunging compared to the smaller drop in demand , the Expected Market Time, the number of days to sell all Orange County listings at the current buying pace, dropped from 23 to 20 days in the past couple of weeks, its lowest level on record and an ex...

  David Deem 714-997-3486 Dave@DeemTeam.com Buying a home is full of numbers, including the all-important down payment and interest rate on the loan. The process also includes a lot of terms you may not be familiar with, especially if it’s the first home you’re buying. Your real estate agent, escrow officer and other experts who are guiding you along the way can help a lot. It can also help to know some mortgage terms ahead of time, which can make shopping for an agent and a home a little easier. Here are some common mortgage terms you’re likely to hear during the home-buying process, and what they mean: Amortization: The gradual reduction of the mortgage debt through regularly scheduled payments over the term of the loan. Annual percentage rate: Abbreviated as APR, this measures the cost of credit in a yearly rate. It includes the stated interest rate and certain charges. Appraisal: Written estimate or opinion of a property’s value prepared by a qualified appraiser. The appraisal ...

  David Deem 714-997-3486 Dave@DeemTeam.com There are a lot of questions right now regarding the real estate market as we head into 2022. The forbearance program is coming to an end and mortgage rates are beginning to rise. With all of this uncertainty, anyone with a megaphone – from the mainstream media to a lone blogger – has realized that bad news sells. Unfortunately, we’ll continue to see a rash of troublesome headlines over the next few months. To make sure you aren’t paralyzed by a headline, turn to reliable resources for a look at what to expect from the housing market next year. There are already alarmist headlines starting to appear. Here are two recent topics you may have seen in the news. 1. Foreclosures Are Spiking Today There are a number of headlines circulating that call out the rising foreclosures in today’s real estate market. Those stories focus on an overly narrow view on that topic: the current volume of foreclosures compared to 2020. They emphasize that we’re ...

  David Deem 714-997-3486 Dave@DeemTeam.com Your equity is a powerful tool that can help you achieve your goals as a homeowner. And chances are, your equity grew substantially over the past year. According to the latest  Equity Insights Report  from  CoreLogic , homeowners gained an average of $51,500 in equity over the past year. If you’re looking for the best ways to use your growing equity, here are four options: 1. Use Your Equity To Buy a Home That Fits Your Needs If you’re finding you no longer have the space you need, it might be time to move into a larger home. Or, it’s possible you have  too much  space and would like something smaller. No matter the situation,  consider using your equity to power a move into a home that fits your changing lifestyle.  Moving into a larger home can provide extra space for remote work or loved ones. Downsizing, on the other hand, may mean saving time and money by cari...

  David Deem 714-997-3486 Dave@DeemTeam.com We all want our homes to be as healthy a living environment as possible, and for today’s luxury homeowners, wellness features continue to be among the most sought-after. Home gyms and amenities that rival a 5-star spa are certainly on the rise in an effort to promote physical and mental wellbeing, but one characteristic that can’t be overlooked is indoor air quality, especially for urban dwellers. These days, you can purchase freestanding air purifiers that come in sleek designs or integrate a whole-house purifier into your HVAC system. If you don’t currently have one in your home, here are four reasons you may want to consider adding an air purifier. Air Pollution Air purifiers can significantly reduce airborne pollutants that find their way into your living space and are unsafe to breathe in. Whether you have a new carpet that may be emitting toxic chemicals, or you live in a city and are worried about harmful emissions affecting your i...

  David Deem 714-997-3486 Dave@DeemTeam.com When fall gets into full swing and the leaves begin turning vibrant shades of red, orange and yellow, you may be wishing you had some beautiful foliage outside your house. For a few weeks each year, this brilliant display of colors is always a highlight of the season that you can look forward to before winter begins. In general, adding a few trees to your property can increase curb appeal and privacy, as well as the value of your home. But if you’re specifically looking to maximize the foliage, here are some of the best trees to plant in your yard. Red Maple The red maple is a perfect choice if you want shade in the summertime and vivid colors in the fall. Growing up to 100 feet tall, these towering trees can survive in a wide range of soil types, which is why they’re among the most abundant in North America. They also do particularly well in urban environments as long as there’s enough space for their roots. Quaking Aspen As one of the m...

  David Deem 714-997-3486 Dave@DeemTeam.com Having a living space that’s well suited for entertaining friends and family is a top priority for many of today’s luxury homeowners. From backyard barbecues to holiday dinners, the house should be designed to seamlessly accommodate any gathering. Being the heart of the home, the kitchen will always have an important role when it comes to playing host. If you need a cooking space that meets your entertaining needs, here are a few key features to keep in mind. Open Concept The open layout has long been embraced by avid entertainers and for good reason. When your kitchen, dining and living areas effortlessly flow together, you can interact with guests while laying out hors d’oeuvres or putting the finishing touches on the main course. It allows everyone to freely mingle without being isolated in different rooms. Layered Lighting Just as it plays an integral role in any restaurant, the lighting in your kitchen requires careful consideration....

  David Deem 714-997-3486 Dave@DeemTeam.com Are you thinking about selling your house right now, but you’re not sure you’ll have the time to do so as the holidays draw near? If so, consider this: even as the holiday season approaches, there are plenty of buyers out there, and they  really  want your house. Here’s why selling this winter is a win for you. Today’s buyers are still dealing with a limited number of homes for sale. Thanks to continued low inventory, those buyers are competing with one another for their dream home. And when that happens, if your house is one of the few on the market, it will rise to the top of the pool – and it will be worth it. According to the latest data from the  National Association of Realtors  (NAR), the average seller received 3.7 offers on their house in September. For a view into what’s happening at the state level, take a look at the map below: Nationwide, the average seller today is getting nearly four ...

David Deem 714-997-3486 Dave@DeemTeam.com The past year and a half brought about significant life changes for many of us. For some, it meant entering retirement earlier than expected. Recent data shows more people retired this year than anticipated. According to the  Schwartz Center for Economic Policy Analysis , 2021 saw a retirement boom: “At least 1.7 million more older workers than expected retired due to the pandemic recession.” If you’ve recently retired, your home may not fit your new lifestyle. The good news is, you’ve likely built-up significant equity that can fuel your next move. According to the latest  Homeowner Equity Insights  report from  CoreLogic ,  homeowners gained more than $50,000 in equity over the past 12 months alone.  That, plus today’s sellers’ market, presents a great opportunity to sell your house and address your evolving needs. You Can Move Closer to the Ones You Love The  2021 Home Buyers and Sellers ...

  David Deem 714-997-3486 Dave@DeemTeam.com As a renter, you’re constantly faced with the same dilemma: keep renting for another year or purchase a home? Your answer depends on your current situation and future plans, but there are a number of benefits to homeownership every renter needs to consider. Here are a few things you should think about before you settle on renting for another year. 1. Rents Are Rising Quickly Rent increasing each year isn’t new. Looking back at  Census  data confirms rental prices have gone up consistently for decades  (see graph below): If you’re a renter, you’re faced with payments that continue to climb each year.  Realtor.com  recently shared the  September Rental Report , and it shows price increases accelerating from August to September  (see graph below) : As the graph shows, rents are still on the rise. It’s important to keep this in mind when the time comes for you to sign a new lease, as...

David Deem 714-997-3486 Dave@DeemTeam.com   ·        The active listing inventory shed 71 homes in the past two weeks, down 4%, and now totals 1,793 homes, its lowest level since tracking. In October, there were 14% fewer homes that came on the market compared to the 3-year average prior to COVID (2017 to 2019), 408 less. Last ye ar, there were 3,843 homes on the market, 2,050 additional homes, or 114% more. ·        Demand, the number of pending sales over the prior month, decreased by 107 pending sales in the past two weeks, down 4%, and now totals 2,322. Last year, there were 2,799 pending sales, 21% more than today due to a four-month delay in the Spring Market because of COVID. ·        With a similar drop in both supply and demand , the Expected Market Time, the number of days to sell all Orange County listings at the current buying pace, remained unchanged at 23 days in the past coupl...

David Deem 714-997-3486 Dave@DeemTeam.com There’s nothing like walking into a home that defies any particular style or period of design. When the right elements come together to truly make a living space feel timeless and luxurious, the result is transcendent. Additionally, for homeowners who may not want to update their interiors every few years as fads come and go, there is much to be said about interior design that endures. If you happen to fall into this category, here are a few rules to help you create a home that feels timeless. Avoid Trends Have you ever looked at pictures of your home décor from just a few short years ago and wondered what you were thinking? Well, it was most likely trendy at the time. Rather than buying into styles that are all the rage right now, it’s wise to stick with design elements that have held their appeal over time. Mix and Match Feel free to create an eclectic mix of items that span a variety of different styles, like pairing contemporary furniture b...

David Deem 714-997-3486 Dave@DeemTeam.com We all want our homes to be as healthy a living environment as possible, and for today’s luxury homeowners, wellness features continue to be among the most sought-after. Home gyms and amenities that rival a 5-star spa are certainly on the rise in an effort to promote physical and mental wellbeing, but one characteristic that can’t be overlooked is indoor air quality, especially for urban dwellers. These days, you can purchase freestanding air purifiers that come in sleek designs or integrate a whole-house purifier into your HVAC system. If you don’t currently have one in your home, here are four reasons you may want to consider adding an air purifier. Air Pollution Air purifiers can significantly reduce airborne pollutants that find their way into your living space and are unsafe to breathe in. Whether you have a new carpet that may be emitting toxic chemicals, or you live in a city and are worried about harmful emissions affecting your indoor ...