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 Some Highlights In a recent article, Lawrence Yun,  Chief Economist  for the  National Association of Realtors  (NAR), discussed the state of today’s housing market. When addressing whether or not today’s high buyer competition and rising home prices are evidence of a housing bubble, Yun said that this “is not a bubble. It is simply lack of supply.” Today’s housing market is healthy, and rising prices are driven by real buyer demand. Let’s connect to talk about the best ways to navigate such an energetic market. www.DeemTeam.com DRE#01266522  

  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 ...

David Deem 74-997-3486 Dave@DeemTeam.com Some Highlights There are a lot of misconceptions about buying or selling a home today, making it challenging to know exactly how to navigate the current real estate landscape. Here’s a little clarity when it comes to 5 common myths about the 2021 housing market. Let’s connect to discuss your needs and so you can decipher facts from fiction in our local market. www.DeemTeam.com DRE#01266522  

David Deem 714-997-3486 Dave@DeemTeam.com Last year started off with a bang. Unemployment was under  4% , forecasters were giddy with their projections for the economy, and the residential housing market had the strongest January and February activity in over a decade. Then came the announcement on March 11, 2020, from the World Health Organization declaring COVID-19 a worldwide  pandemic . Two days later, the White House declared it a national emergency. Businesses and schools were forced to close, shelter-in-place mandates were enacted, and the economy came to a screeching halt. As a result, unemployment in this country skyrocketed to  14.9% . A year later, the economy is recovering, and the U.S. has regained more than half of the  jobs  that were originally lost. However, some businesses are still closed, and many schools are still struggling to reopen. Despite the past and current challenges, there is one industry that’s proven to be a tailwind helping to co...

  David Deem 714-997-3486 Dave@DeemTeam.com Spring is almost here, and many are wondering what it will bring for the housing market. Even though the pandemic continues on, it’s certain to be very different from the spring we experienced at this time last year. Here’s what a few industry experts have to say about the housing market and how it will bloom this season. Danielle Hale,  Chief Economist ,  realtor.com : “Despite early weakness,  we expect to see new listings grow in March and April as they traditionally do heading into spring , and last year’s extraordinarily low new listings comparison point will mean year over year gains.  One other potential bright spot for would-be homebuyers, new construction , which has risen at a year over year pace of 20% or more for the last few months,  will provide additional for-sale inventory relief .” Ali Wolf,  Chief Economist, Zonda : “Some people will feel comfortable listing their home during the first half ...

  David Deem 714-997-3486 Dave@DeemTeam.com Last March, many involved in the residential housing industry feared the market would be crushed under the pressure of a once-in-a-lifetime pandemic. Instead,  real estate had one of its best years ever . Home sales and prices were both up substantially over the year before. 2020 was so strong that many now fear the market’s exuberance mirrors that of the last housing boom and, as a result, we’re now headed for another crash. However,  there are many reasons this real estate market is nothing like 2008 . Here are six visuals to show the dramatic differences. 1. Mortgage standards are nothing like they were back then. During the housing bubble, it was difficult  not  to get a mortgage. Today, it’s tough to qualify. Recently, the  Urban Institute  released their latest  Housing Credit Availability Index  (HCAI) which “ measures the percentage of owner-occupied home purchase loans that are likely to de...

David Deem 714-997-3486 Dave@DeemTeam.com By Jordan Grice The housing market is still buzzing from the 2020 surge of activity, but several agents and brokers are hopeful that a vaccinated population will be a boon for this year's market, along with a return to some semblance of the pre-pandemic normalcy.   More than 50 million people have received at least one dose of a COVID-19 vaccine since the start of March, according to a New York Times article. The article projects that roughly 70% of the population will be at least partially vaccinated by the third quarter of 2021 at the current rate.   Perhaps the most anticipated effect of a mass vaccine rollout, according to experts, is that more sellers may return to the market that has seen a dwindling supply.    "We expect that the vaccine rollout will likely boost inventory, as sellers become increasingly willing to move despite COVID-19—resulting in greater numbers of new listings beginning this spring," says Chri...

David Deem 714-997-3486 Dave@DeemTeam.com There are so many great reasons to purchase a home, and over the past year, we’ve realized more of them than we ever thought possible. If you’re a first-time homebuyer, having a home of your own can give you a greater sense of security and accomplishment in a time that’s largely uncertain. If you’re a repeat buyer looking for your dream home, making a move might give you the space or features you need to find greater success and happiness in a new normal way of life. Whatever your motivations are, here are three reasons why becoming a homeowner now may help you win big in the long run. 1. Buying a Home Is a Great Investment Several recent reports indicate that real estate is still a good investment, topping other options such as gold, stocks, bonds, and savings. Why? Real estate helps you build equity, a type of forced savings that grows your net worth. According to the latest Equity Report from  ATTOM Data Solutions : “...

David Deem 714-997-3486 Dave@DeemTeam.com Headlines matter. Right now, it’s hard to read about real estate without seeing a headline that suggests homes have become unaffordable for most Americans. In reality, there’s hard evidence that shows how owning a home is more affordable than  renting  in most parts of the country, as record-low interest rates are keeping monthly mortgage payments about 23%  lower  than the typical payment of 20 years ago. Despite the facts, misleading headlines persist, and they impact how hopeful homebuyers perceive the market. In a recent  survey  by  realtor.com , home shoppers indicated they were surprised by what they could actually afford when buying their first home. In fact, 47% discovered their budget was larger than they expected. George Ratiu,  Senior Economist  at  realtor.com , explains: "For first-time buyers, especially, the drop in the 30-year mortgage rate…has provided unexpected leverage. Lower...