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. It sh...

  David Deem 714-997-3486 Dave@DeemTeam.com Some Highlights If you’re deciding whether you should make updates before you  sell  your house, lean on your agent to be your guide. If the market is flooded with houses for sale, updates may be necessary for your house to stand out. In our current sellers’ market, the added expenses might not be worth it. Let’s connect so you have expert advice on which updates are important in today’s market.

David Deem 714-997-3486 Dave@DeemTeam.com In today’s housing market, the number of homes for sale is much lower than the strong buyer demand. As a result, homeowners ready to sell have a significant advantage. Here are three ways today’s low inventory will set you up for a win when you sell this season. 1. Higher Prices With so many more buyers in the market than homes available for sale, homebuyers are frequently getting into bidding wars for the houses they want to purchase. According to the latest data from the  National Association of Realtors  (NAR), homes are receiving an average of 3.7 offers in today’s market. This buyer competition drives home prices up. As a seller, this certainly works to your advantage, potentially netting you more for your house when you close the deal. 2. Greater Return on Your Investment Rising prices mean homes are also gaining value, which increases the equity you have in your home. In the...

  David Deem 714-997-3486 Dave@DeemTeam.com With the average 30-year fixed mortgage rate from  Freddie Mac  climbing above 3%, rising rates are one of the topics dominating the discussion in the housing market today. And since experts project rates will rise further in the coming months, that conversation isn’t going away any time soon. But as a homebuyer, what do rates above 3%  really  mean? Today’s Average Mortgage Rate Still Presents Buyers with a Great Opportunity Buyers don’t want mortgage rates to rise, as any upward movement increases your monthly mortgage payment. But it’s important to put today’s average mortgage rate into perspective. The graph below shows today’s rate in comparison to average rates over the last five years: As the graph shows, even though today’s rate is above 3%,  it’s still incredibly competitive. But today’s rate isn’t just low when compared to the most recent years. To truly put today into persp...

  David Deem 714-997-3486 Dave@DeemTeam.com With forbearance plans coming to an end, many are concerned the housing market will experience a wave of foreclosures similar to what happened after the housing bubble 15 years ago. Here are a few reasons why that won’t happen. There are fewer homeowners in trouble this time After the last housing crash, about 9.3 million households lost their homes to a foreclosure, short sale, or because they simply gave it back to the bank. As stay-at-home orders were issued early last year, the fear was the pandemic would impact the housing industry in a similar way. Many projected up to 30% of all mortgage holders would enter the forbearance program. In reality, only 8.5% actually did, and that number is now down to 2.2%. As of last Friday, the total number of mortgages still in forbearance stood at  1,221,000. That’s far fewer than the 9.3 million households that lost their homes just over a decade ago. Most of the...

  David Deem 714-997-3486 Dave@DeemTeam.com The total number of loans now in forbearance decreased by 6 basis points to 2.15% of servicers' portfolio volume as of Oct. 24, 2021. According to the Mortgage Bankers Association's (MBA) latest Forbearance and Call Volume Survey, 1.1 million homeowners are in forbearance plans.   The breakdown:   - The share of Fannie Mae and Freddie Mac loans in forbearance decreased 3 basis points to 0.97%. - Ginnie Mae loans in forbearance decreased 7 basis points to 2.65% - Portfolio loans and private-label securities (PLS) declined 8 basis points to 5.13% - Independent mortgage bank (IMB) servicers decreased 6 basis points relative to the prior week to 2.43% - Loans in forbearance for depository servicers decreased 4 basis points to 2.07% The takeaway:   "For the first time since March 2020, the share of Fannie Mae and Freddie Mac loans in forbearance dropped below 1%. A small decline for this investor category was matched by similarl...

  David Deem 714-997-3486 Dave@DeemTeam.com Mortgage rates are one of several factors that impact how much you can afford if you’re buying a home. When rates are low, they help you get more house for your money. Within the last year, mortgage rates have hit the lowest point ever recorded, and they’ve hovered in the historic-low territory. But even over the past few weeks, rates have started to rise. This past week, the average 30-year fixed rate was 3.14%. What does this mean if you’re thinking about making a move?  Waiting until next year will cost you more in the long run . Here’s a look at what several experts project for mortgage rates going into 2022. Freddie Mac : “The average 30-year fixed-rate mortgage (FRM) is expected to be  3.0 percent in 2021 and 3.5 percent in 2022 .” Doug Duncan, Senior VP & Chief Economist,  Fannie Mae : “Right now,  we forecast mortgage rates to average 3.3 percent in 2022 , which, though slightly hig...