Long Beach Real Estate Podcast with Tim Majka

This is just a reminder for California property owners to send out your exemption notices to tenants if you want to remain exempt from rent control in California. Tenant-occupied properties like single-family homes, condos, townhomes are exempt from the new California rent control law. Additionally, duplexes where one unit is owner-occupied and the other is tenant-occupied are exempt as long as one of the units remains owner-occupied. “Many people aren't aware of the full extent of this new law change.” Regardless, in order for these properties that are supposed to be exempted from the rent control law to stay exempt, the property owner must give an exemption notice to the tenants or they could become subject to rent control, which details both limitations on how much you can raise rents as well as how you can terminate a tenant's lease. For example, if the tenant has lived in the property for over 12 months, the owner can no longer terminate that lease without just cause under the rent control law. Many people aren't aware of the full extent of this new law change. If you'd like, I'd even be happy to send you a full copy of the law so you can look it over yourself. You can also watch me discuss this topic in more detail at www.SoCalRealEstateTips.com.  In the meantime, don't hesitate to reach out to me with any questions you have about rent control.

There's a housing shortage in our market, and it means we're in for a strong summer. The supply of homes for sale in the Greater Orange County and Los Angeles area is very low. In my 15 years as a Realtor, this is one of the lowest levels I've ever seen.  Specifically, there are about 2.1 months of inventory. As a reminder, this means if no one else put their homes on the market, it would take 2.1 months to sell all available homes. To put this into perspective, there were about 3.5 months of inventory during this time of year in 2019 and 2018. We saw really strong appreciation in the summer months of both of those years.  A “normal” market (i.e., one that's balanced between buyers and sellers) has between five and six months of inventory. Anything below that mark is considered a seller's market, so at 2.1 months of inventory, you can see that we're deep into a seller's market. There aren't enough homes for sale for all the buyers out there. “As we approach the spring and summer, this lack of inventory means prices will likely rise quite a bit.” What does this mean for you? It means our market is in for a strong summer. The summer is when we typically see the most buyers enter the market—the weather is nicer, the days are longer, families want to get settled in before the school year starts, etc. In general, summer is when we see the most homes bought and sold. It's also the season where we see the greatest increase in home values.  The bottom line is that as we approach the spring and summer, this lack of inventory means prices will likely rise quite a bit.  If you're thinking of buying or selling soon, be sure to check out our website. There, you can search for homes or request an online home valuation. If you'd like to start looking at homes in person or would like a more exact calculation of your home's worth, feel free to call or email me. I can put together a customized home search and discuss our strategies to find homes that aren't on the market.  As always, if you have any other real estate questions, feel free to reach out to me as well. Make it a great day!

In California, HOAs can't unreasonably restrict condo owners from installing electric vehicle charging stations in their parking spaces. If you're thinking of buying a condo, can you install an electric vehicle charging system in your parking space after you've purchased the property? In California, Civil Code §4745 says that an HOA can't unreasonably restrict or prohibit a homeowner from installing an electric vehicle charging system in their designated garage or parking space (you'd still need to pay for the installation, however).  This law also places time limits on how quickly the HOA must respond to your request to install the charging system. They have 60 days to either approve or disapprove of your request, although this time frame may be delayed by a reasonable request for additional information.  “An HOA can't unreasonably restrict or prohibit a homeowner from installing an electric vehicle charging system.” In short, you absolutely can install an electric vehicle charging system, and HOAs are encouraged to act promptly to respond to your request.  If you have more questions about this topic or you'd like help purchasing your condo, feel free to call or email me. I'd be happy to help.

Here's how the Tenant Protection Act of 2019 applies to property owners. How does the Tenant Protection Act of 2019 apply to property owners? Essentially, this law limits the amount of money by which landlords can raise their rent each year. It also prevents property owners (with certain exceptions) from terminating a lease without ‘just cause,' as the term is defined by the law.  The annual rent cap is set at 5% plus inflation for a particular city. For example, if your city has an inflation rate of 2%, the maximum rent increase landlords can apply is 7%. Regardless of a city's inflation rate, rent cannot be raised more than 10% per year. The rate of inflation is tied to the consumer price index for each metropolitan area (typically 2% to 3% per year).  Keep in mind, this law does not override local rent control laws. Los Angeles, Santa Monica, and other cities throughout the state have their own rent control laws. Overall, this law applies to apartment buildings and multifamily buildings containing two or more units. This means single-family homes, condos, and townhomes are exempt as long as they're not owned by a corporation, real estate investment trust, or limited liability company where one member is a corporation. It also exempts duplexes wherein one of the units is owner-occupied.  “The Tenant Protection Act of 2019 limits the amount of money by which landlords can raise their rent each year.” As I've said, even if a property is exempt by law, the burden is on the owner to send an exemption notice to their tenant. Otherwise, they may be subject to this law. In addition to the property types already mentioned, properties that were built within the past 15 years and vacant units are exempt as well.  As far as terminating a lease goes, there are two types of just cause as defined under the law: an ‘at-fault just cause' and a ‘no-fault just cause.' An at-fault just cause is when a tenant fails to pay rent, has engaged in criminal activity, or breached a material term in the lease agreement. An example of a no-fault just cause is when the owner wants to move themselves or a family member into the home, remove it from the rental market altogether, or demolish it or perform substantial remodels.  Some of the terms of this act are subject to judicial interpretation. For instance, it will be interesting to see how courts determine what's considered “withdrawing a property from a rental market.” If you'd like to know more about this law or receive a copy of the exemption notice, feel free to call or email my office. I'd love to help you.

We at Imagine Realty wish you a happy, safe, and prosperous new year. To our family, friends, and everyone we've worked with over the past year: We at Imagine Realty wish you a happy, safe, and prosperous New Year. I can't believe it's going to be 2020 soon, and we're fortunate to have had such a great 2019. This, of course, is the time of year people start thinking about their New Year's resolutions, and mine is to be better prepared for the future—specifically for my retirement and my daughter's education. If you have a New Year's resolution I can help with—perhaps it involves buying, selling, or investing in real estate—please don't hesitate to reach out to me. I'd love to help you, and I look forward to seeing you in 2020.  

We're sending a quick holiday message your way, thank you for an excellent year! On behalf of everyone at Imagine Realty, Happy Holidays! We've had a wonderful year, and we're blessed to have the opportunity to help so many people with their real estate needs. We'd also like to wish everyone a safe, happy, and prosperous New Year. We can't believe it's almost 2020 already. Happy holidays to you and your family!

Our end of 2019 report and the real estate market forecast for 2020. I just got back from attending a renowned housing economist's speech where they laid out how this year's been for the housing market and gave some predictions for where they think it'll be heading next year. I wanted to share a few of these things with you. 1. It has been a great year for housing. It's been a win-win for buyers and sellers. Right now, interest rates are around 3.5%, give or take, which is over 1% less than they were at this point last year. Homeowners have profited by refinancing to reduce their mortgage payments. Also, homebuyers have been able to take advantage because right now, the average home is $500 less in mortgage payments per month than that same home would have been had it been bought a year ago. 2. The economy is strong. The unemployment rate is the lowest we've seen in a long time. Our GDP is secure, the overall economy is strong, and they expect that to continue. “The unemployment rate is the lowest we've seen in a long time.” There are always concerns to look out for as well. Moving forward, there's the potential for trade wars, and interest rates may go up, but not by much. However, the forecast is to expect another great year in 2020. Expect a 2% to 4% appreciation rate. They foresee it to be another wonderful year for both sellers and buyers.  I'm looking forward to 2020. If you have any questions about the housing market, feel free to reach out to us by phone or email. We would love to help you.

As we approach Thanksgiving, I wanted to send a quick message out to all of you, thanking you for all of your support over the years. Today I just wanted to reach out and wish you all a happy Thanksgiving. We're very thankful for all the blessings and the success we've had over the years. We're also thankful for the opportunity to help so many wonderful families out there buy, sell, and invest in real estate. I also wanted to thank everyone who showed up for our recent Pumpkin Pie Giveaway. It was great to catch up with you. If you have any questions about real estate or would like to discuss your goals, feel free to give me or my team a call or send us an email. We look forward to hearing from you soon.

Do you live in a haunted house and want to boost its value? Here are five tips that will help you do so. As you know, I recently got a mysterious online home valuation request from some homeowners whose house looked haunted. Their address was 1313 Cemetery Lane (they call themselves the Addams family), and I sent out a email asking for help trying to contact them. I have since received another cryptic message from them asking for tips on how they can improve the value of their home. The phone number they provided is dead, and when I knock on their door, the home looks abandoned.  This home looks spooky, so the advice I have for them really applies to anyone looking to sell a haunted house. Thus, I have five tips on how the owners of haunted houses can improve their home's value: 1. It's all about curb appeal. A buyer will make an almost instinctual decision the minute they see a photo of the front of the house whether they want to see more of it. That's why I recommend cleaning up the landscaping—remove the abandoned vehicles, dead trees, and bushes, large spider webs, tombstones, etc. If you have the budget and time, planting fresh grass or laying down sod can make a front yard look better. If you can, even adding some fresh, drought-tolerant landscaping or succulents can give a home a modern look.   2. Add a fresh coat of paint and repair any termite damage. The home looks like it has not had any termite work done in a long time and it has a lot of badly worn paint. Also, there are several broken windows that I would recommend having replaced. “We don't know anyone who can help with unwanted spirits, but I am sure we can look on Yelp and do some research on Google to find a good ghostbuster.” 3. Add a fresh coat of paint to the inside of the home. I have not been able to go inside the home, but the way a home looks on the outside is usually a good indication of how a home looks on the inside. Thus, a fresh coat of paint on the interior can go a long way in making the home look fresh and clean. The home will probably need a thorough cleaning too. 4. Change the address. A lot of buyers might be turned off by the address 1313 Cemetery Lane. What's really odd is that this is the only home on the street, and it's weird that the address number is 1313. I checked with the city and it actually used to be 0001. Anyway, we can check with the city to see if they can change the address. 5. If you remove any tombstones, please take the undead with you. A new buyer is probably not going to want unwanted visitors—even on Halloween.  If the owners of the home are reading this: We do have referrals for landscapers, painters, and other vendors that can help get your home ready. We don't know anyone who can help with unwanted spirits, but I am sure we can look on Yelp and do some research on Google to find a good ghostbuster.  To the rest of my friends and clients: If you come across these homeowners, please share these tips with them. I would greatly appreciate it.  If you have any questions about this event or this topic, don't hesitate to reach out to me. I'd love to speak with you.  

What does it take to find the value of a haunted house? Let's discuss. As you know, I usually like to share helpful hints with all of you about what's going on in the Southern California area real estate market. Today, though, I'd like to ask for your help, instead. Here's the situation: I recently received an online home value request at exactly midnight from Mr. and Mrs. Adams. The couple told me that their property, 1313 Cemetery Lane, is haunted, and wasn't sure if I'd be willing to take on such a property. I tried calling the couple back to discuss their situation, but the phone line went dead. And when I visited the property in person, no one answered. In fact, the home appeared to have been completely abandoned a long, long time ago.  With all of that being said, here is how you can help: If you happen to know the Adams family, could you please put them in touch with me? And, if not, could you relay these five questions? Each of them will help them to determine their home's value:  1. Are they planning on moving the cars from the front lawn, or are they included in the sale? When I arrived at the property, there were a number of abandoned cars—all of which were, strangely, left running. It was as if the owners of the vehicles had been forced to flee.  2. Will they be taking their bats with them? One of the trees in the front yard had a huge, red-eyed bat in it. I could see this turning off potential buyers.  3. Has there been a death on the property within the past three years? Under California State law, owners are required to disclose this information, as it could affect the home's value. 4. Are the tombstones in the back yard real? If so, how do Mr. and Mrs. Adams intend to sell a property located on a burial site? 5. Is the spooky aesthetic just for Halloween? The property looked, for lack of a better word, scary. If Mr. and Mrs. Adams get back in touch with me, we'll definitely need to work on improving their curb appeal.  “Hopefully, the Adams family can get back to me soon—while they're still in the home selling spirit.” Thank you all for your help in relaying these messages to the Adams family. Hopefully, they can get back to me soon—while they're still in the home selling spirit. And, as always, if you have any questions about selling your own (hopefully not haunted) home, or if you'd like more information about your other real estate goals, feel free to give me a call or send me an email. Just don't “ghost” me like the Adams did!   

Transitioning to a new home does not have to mean an increase in property taxes. Today I will explain how two California laws can help homeowners over 55 circumvent this common concern. Are you or someone you know thinking of downsizing? If this is the case, but you are putting off the transaction because you are afraid your property taxes may go up, I have some important information to share with you. Did you know that under California Proposition 60, homeowners age 55 and over may be eligible to transfer their property tax base to their new home after the sale of their current property, so long as the move is within the same county? And under California Proposition 90, homeowners may transfer their property taxes to a home in a different county, provided that that county is eligible. This is a great opportunity for those who are looking to downsize. Transferring your property tax base to a new home can also help you extract equity without losing money in the long run. “Transferring your property tax base to a new home can also help you extract equity without losing money in the long run.” As I mentioned before, though, there are some requirements a homeowner must meet to be eligible. First, the homeowner or their spouse must be 55 or older at the time they sell their current home. Next, the replacement property must serve as a principal residence and be of equal or lesser market value to their current home. And finally, the replacement property must be purchased or built within two years of the sale of the original home. Now, it is important to keep in mind that this is a one-time use policy. But there is an exception. If you were to become seriously disabled after taking advantage of this opportunity, you may be eligible to utilize it a second time. To learn more about this opportunity, visit http://www.boe.ca.gov/. As always, if you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.

If you're self-employed, there are some new loan programs that can help you qualify to purchase a home or investment property. Today I'm joined by Steve Hankla of Doorway Home Loans to provide some quick tips for small business owners, independent contractors, and others who work in the gig economy on how they can qualify to purchase a home or an investment property. Prior to the market crash of 2008, self-employed borrowers only needed to state their income and their assets to qualify for a mortgage loan, but that's not the case anymore. However, about a year or two ago, some mortgage companies started offering “non-QM loans” that are ideal for small business owners. With these programs, you can use bank statements (personal, business, or a combination of both) to qualify to buy a property. Depending on the program, you can use one month's worth of statements or a broader spectrum of, say, the past 24 months. “About a year or two ago, some mortgage companies started offering “non-QM loans” that are ideal for small business owners making it easier for them to qualify to buy a home or investment property.” If you want to buy a home within the year and want to qualify for one of these loans, you need to start doing some tax planning. Steve, for example, likes to look at his clients' tax returns beforehand and review their deductions in case there's a problem. Resolving any issues means a world of difference in terms of qualifying. If you have any more questions for Steve about this topic or you'd like to get started with the loan qualifying process, you can call him at (714) 470-5626, email him at Steve@gotoloanpro.com, or visit his website SteveHankla.com. As always, if you have any other real estate questions for me, don't hesitate to call or email me anytime. I'd love to help you.

There's an online scam that's becoming increasingly prevalent in markets nationwide. Here's what to watch out for. Here in our Southern California market, and also nationwide, there's a very particular scam that's gaining traction. Today I'll tell you what you need to look out for so that you can protect yourself and those you know from becoming a victim. These scammers are preying on our renters who are looking for places to rent. They'll find a property that's been posted for sale, and then they'll copy the information, photos, and description of the property and then post it on another website for rent, usually at a really low price. The unwitting renter will see this property for rent and get excited about the price. With all the details and the photos, they have no reason to suspect that anything is amiss. They'll contact the person pretending to be the landlord of the property, who will tell them one of the following things: The victim is told to fill out an online application. Here, the scammer is trying to mine your social security numbers.  They'll tell the victim that they're currently out of town and will ask them to mail them a check for, say, $1,000. After this, they say that they'll mail them a key to the property, and if the victim doesn't like the property, they can just return the key and the scammer will, of course, “return the $1,000.” The victim will never see that money again. We've seen this happen over and over again, and we wanted to warn you about it so that you can protect yourself and those you know and love who are looking for a place to rent. If you see a property for rent and the rent seems too good to be true, that's good cause to be suspicious.  “If you see a property for rent and the rent seems too good to be true, that's good cause to be suspicious.” Also, never give out your personal information to anyone unless you know and trust them. If they ask you to fill out an online application, don't do it until you've personally seen the property and you can verify that they are, in fact, the landlord of the property. If you do see anything suspicious, feel free to reach out to someone you know and trust who can take a look at the listing and let you know if your suspicions are warranted.  For my part, I'd be happy to take a look at it and let you know if it's a scam. If you have any questions about real estate scams or about buying and selling homes, don't hesitate to reach out to me. I'd love to help you.

Over the past few years, many of my clients have made home purchases and are beginning to turn their attention to what's next: saving for retirement, contributing to their kids' college fund, or taking steps to reduce their taxes. “Give it some time, and you'll reap the benefits of great cash flow from your property.” If you haven't considered owning investment property as an option, maybe now is the time—doing so comes with some major benefits that can be a driver for strong financial well-being for you and your family. There are four benefits, in particular, that I'd like to go over with you now: Wealth. Purchasing an investment property is great for wealth accumulation over time. Ultimately, you'll own that property, and it'll be an asset to your financial security. Appreciation. Though market fluctuation is a factor, the appreciation rate we tend to see year over year in California is 5%. Putting 20% down on, say, a $500,000 investment will actually yield a much higher ROI than that 5% appreciate rate would suggest.   Cash flow. Like property values, the cost of rent steadily rises at a rate of about 5% each year. As you're charging that additional 5% from your tenants from one year to the next, the cash flow you're collecting will also continue to grow. Give it some time, and you'll reap the benefits of great cash flow from your property. Tax benefits. Often overlooked, an important thing to consider is that you're able to write off depreciation—the physical attributes and structure of the property. By the time you own the property, this comes out to be about half of its value.   If you have questions about what I've discussed in this video or about any other real estate-related questions, please reach out to me. We'd love the opportunity to assist you!    

Do homebuyers really need a 20% down payment to buy a home? Steve Hankla from Doorway Home Loans is here to help me answer this question. In answer to the question of whether homebuyers really need a 20% down payment to buy a home, I'm happy to say that no, they do not. There are many awesome programs that allow potential homebuyers to purchase homes with down payments as low as 5%, 3%, 1%, or even 0%. Steve Hankla from Doorway Home Loans joined me today to talk about some of these programs. One program that many don't seem to know much about is the VA loan program. This program is specifically for veterans of the armed forces, and requires no money down on a home. If those veterans happen to be disabled, then they can even have the VA funding fee waived, which will help reduce their monthly payment still further. Other low money down programs include the FHA program, which requires a 3.5% down payment, and the conventional loan program, which requires a down payment somewhere between 3% and 5%. CALHFA, the California Housing Finance Agency, has a product preferable to both FHA and conventional loans which allows homebuyers to get a home with as little as 1%—possibly even less, depending on the time of year. In fact, at the time of year when escrow accounts are at their lowest, Steve has seen people close on a $500,000 home, having paid only $500 or $600 out of pocket on the property with the right down payment assistance. “There are many awesome programs that allow potential homebuyers to purchase homes with down payments as low as 5%, 3%, 1%, or even 0%.” Fannie Mae's HomeReady program for first-time homebuyers is often overlooked because of Fannie Mae's traditional income limitations in areas where the average income is higher than other areas. The HomeReady program offers a lower monthly payment because of the interest rate. The mortgage insurance is actually lower as well. It's designed to attract people to underserved markets. Through the HomeReady program, first-time homebuyers can get into a home with as little as 3% down with no income limitations whatsoever—even if you made $500,000 per year, you would be able to take advantage of the program. What's more is that there are tools available to help pinpoint those properties that qualify for the no-income-limit areas. If you're interested in a property that might require customization due to, for example, a faulty roof or defective appliances, Fannie Mae's HomeStyle Renovation program includes those projects. Ultimately, you really don't need to save up for a 20% down payment. There are plenty of great programs that will allow you to purchase with less money down, or none at all. If you'd like to learn more about these programs, you can contact Steve Hankla at (714) 470-5626 or Steve@GoToLoanPro.com. Otherwise, if you're looking to begin the process of buying a home, reach out to us here Tim Majka with Imagine Realty. We'd be delighted to help.

There are some amazing new home developments in Long Beach, LA, and Orange County in general. If you're planning to purchase a new home at any point in the near future, here are some tips to unlock some fantastic incentives that can save you thousands of dollars: 1. Check for lender incentives. Builders oftentimes have lenders that have financed other homes for sale in their development, and they've typically done all the due diligence as well—not to mention that their underwriters have already underwritten loans for them. A lot of the upfront work is taken care of and, as such, these lenders would love to help buyers purchase homes in the development. These special incentives encourage buyers to use them for financing and could add up to tens of thousands of dollars. 2. Look for close-out specials. When a developer has just one or two remaining homes left, they are oftentimes anxious to get those properties sold quickly and are willing to offer closeout specials on these homes. These properties are usually gone within a matter of days, so make sure your agent is keeping up with the market. “A recent client received over $23,000 in new-home incentives.” 3. Ask your Realtor to help negotiate the purchase price. We recently helped a client purchase a new home where they are receiving over $23,000 in new-home incentives. It was a close-out special and we knew it wouldn't last long. 4. Let your Realtor know you're interested in a brand-new home. If they know in advance, they can help you identify your best options. Then, they can be there to help you negotiate. If you go to a developer without a Realtor on your first visit, they won't let you use one later in the process. If you have any questions for me or would like a list of new home developments in the area, don't hesitate to give me a call or send me an email today. I look forward to hearing from you soon.

If you've been following our blog, you're already aware of the efforts underway to impose rent control in California. Since our previous update, there have been some major new developments that I wanted to share with you: 1. The California ballot initiative has received enough signatures to get on the November ballot. It will be called Proposition 10, and if passed, it will repeal the Costa-Hawkins Act, which limits the kind of rent control policies that cities can impose. If Proposition 10 is passed, cities will be permitted to enact their own rent control initiatives. Currently, the law makes it illegal for cities to impose rent control ordinances on properties built after 1995. In addition, the Costa-Hawkins Act prohibits cities from imposing rent control on single-family homes, condos, and from regulating how much a landlord can charge in rent after a tenant moves out. “It doesn't look like rent control will be on the ballot in Long Beach this year.” 2. Backers of a rent control ordinance in the city of Long Beach have suspended their plans and are refocusing on a ballot initiative in 2020. It doesn't look like rent control will be on the ballot in Long Beach this year. If you own an investment property and would like to know how Proposition 10 may impact you, don't hesitate to give me a call or send me an email. I would love to hear from you soon.

With the cost of rent in many cities across California at an all-time high, efforts have been made to support ballot initiatives that would make it easier for cities to implement some form of rent control. Whether you're a real estate investor, a homeowner, or a renter, these ballot initiatives will have a major impact on housing, if passed. On the state level, supporters have gathered a sufficient number of signatures for the initiative to be placed on the ballot this November. This initiative would repeal the 1985 Costa-Hawkins Rental Housing Act, which makes it illegal for cities to set rent caps on properties built after the year during which their respective city rent control laws were passed. In Los Angeles, for example, the main rent control law is the Rent Stabilization Ordinance. This law, passed in 1979, restricts rent control on units built prior to October of 1978. “At least 15 California cities have rent control policies right now.” Costa-Hawkins also bars cities from passing rent control ordinances on condominiums and single-family homes. It also prohibits cities from reckoning how much a landlord can raise the rent after a tenant moves out, under a policy known as vacancy control. Right now, at least 15 California cities have rent control policies. In the Los Angeles area, this includes the City of Los Angeles, West Hollywood, Beverly Hills, Thousand Oaks, and Santa Monica. There are also efforts underway to implement some form of rent control in other cities throughout the state, including Long Beach, Inglewood, and Pasadena. In Long Beach, for example, the proposed initiative would cap rent hikes for most apartments built before 1995 at 5% or lower. It would also establish a citywide Rental Housing Board, which would be funded through fees charged to landlords. If you would like more information about how these ballot initiatives may affect you, please reach out through our website at https://www.imcd.com/, give us a call, or send us an email. We look forward to hearing from you soon.

Are you or someone you know thinking of downsizing? If this is the case, but you are putting off the transaction because you are afraid your property taxes may go up, I have some important information to share with you. Did you know that under California Proposition 60, homeowners age 55 and over may be eligible to transfer their property tax base to their new home after the sale of their current property, so long as the move is within the same county? And under California Proposition 90, homeowners may transfer their property taxes to a home in a different county, provided that that county is eligible. This is a great opportunity for those who are looking to downsize. Transferring your property tax base to a new home can also help you extract equity without losing money in the long run. “Transferring your property tax base to a new home can also help you extract equity without losing money in the long run.” As I mentioned before, though, there are some requirements a homeowner must meet to be eligible. First, the homeowner or their spouse must be 55 or older at the time they sell their current home. Next, the replacement property must serve as a principal residence and be of equal or lesser market value to their current home. And finally, the replacement property must be purchased or built within two years of the sale of the original home. Now, it is important to keep in mind that this is a one-time use policy. But there is an exception. If you were to become seriously disabled after taking advantage of this opportunity, you may be eligible to utilize it a second time. To learn more about this opportunity, visit http://www.boe.ca.gov/ As always, if you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.

If you have any documents, paperwork, or mail you need shredded, you're in luck. You're invited to our upcoming shredding day on July 14. The event will run from 9 a.m. until 1 p.m., so be sure to drop by our office (located at 3030 Old Ranch Parkway in Seal Beach). There will be three shredding trucks in our parking lot, and this event is absolutely free. You're certainly welcome to make a donation to KW Cares, but there's no obligation to do so. “You're invited to our upcoming shredding day on July 14.” Last year this event was a big success. We filled up three shredding trucks and actually had to close up early. There's no need to RSVP, but you may want to show up toward the beginning of the event to ensure you're able to get in. If you have any other questions or would like more information, feel free to give us a call or send us an email. We look forward to hearing from you soon.

Buying a home is an expensive ordeal. This can make the purchasing process seem daunting, but there is ultimately no better way to build wealth and equity than homeownership. Before you can purchase a home, though, you will need to save for a down payment. Today I've got five tips on how to afford this necessary expense in the home buying process. 1- Look into low down payment options. Many homebuyers assume that they'll need a down payment amounting to 20% of the purchase price. This is actually not the case. There are many loan programs that allow buyers to put down significantly less. An FHA loan, for example, only requires you to put down 3% in most cases. And veterans may find that taking advantage of the VA loan is beneficial, as it allows buyers to skip the down payment altogether. 2- Make use of down payment assistance programs. There are many options that can help buyers achieve a more affordable home purchase. For example, Orange County homebuyers with a gross household income less than $174,000 can qualify for a program that essentially provides gift funds toward a down payment. The only things many of these programs will require you to pay out-of-pocket are closing costs. 3- Borrow money from your 401(k). You will need to have a discussion with your 401(k) administrator before doing this, but applying these borrowed funds can be a viable course of action. 4- Obtain gift money from a family member. Whether it comes from your parents, your spouse, or another close member of your family, gift funds can go a long way in saving for a down payment. 5- Save money by reducing your monthly bills. Renegotiating your rent, being more conscious of your energy usage, and cancelling monthly subscriptions are all great ways of saving money that can then be put toward a down payment. “Many homebuyers assume that they'll need a down payment amounting to 20% of the purchase price, but this is not the case.” If you have any other questions, would like more information, or would like help strategizing your home purchase, feel free to give us a call or send us an email. We look forward to hearing from you soon.

With the cost of rents in many cities in California at all-time highs, there are efforts to have a ballot initiative and to implement some form of rent control in some cities. Whether you are a real estate investor, a homeowner, or a renter, these ballot initiatives will have a major impact on housing if passed. On the state level, supporters claim that they have gathered enough signatures to have a ballot initiative placed on the November ballot that would repeal the 1996 Costa-Hawkins Act. If you are unfamiliar with this act, it sets limits on the kind of rent control that cities can impose on landowners. The law makes it illegal for cities to apply rent caps to properties built after 1995 or when the city rent control was passed. The main rent control law is called the Rent Stabilization Ordinance. It was passed in 1979 and restricts rent control to units built prior to October 1978, a date frozen in place because of the Costa-Hawkins Act. “There are efforts underway to have some form of rent control on the ballot in Long Beach, Inglewood, and Pasadena.” The Costa-Hawkins Act also bars cities from passing rent control on rented condominiums and single-family homes. Additionally, it prohibits cities from regulating how much a landlord can raise the rent after a tenant moves out. The initiative that we expect will be on the November ballot would repeal Costa-Hawkins. At least 15 California cities have rent control policies in place right now. In the LA area, they include West Hollywood, Beverly Hills, Thousand Oaks, Santa Monica, and the city of Los Angeles. In addition, there are efforts underway to have some form of rent control on the ballot in Long Beach, Inglewood, and Pasadena. In Long Beach, the proposed ballot measure would cap rent hikes for most apartments built before 1995 at 5% or lower. It would also establish a city-wide rental housing board, which would be funded through fees charged to landlords. If you would like more information on these ballot initiatives and how it might impact you, please feel free to reach out and give us a call or send us an email. We would love to hear from you soon.

Friends and clients: Would you invest $10,000 to make $40,000? What about investing $50,000 to make $200,000? Well, we've got good news: This scenario is possible. In fact, just like in our second question, we recently helped a homeowner increase the value of her home by $200,000 by investing $50,000 into upgrading the look and feel of her property. If you want to see these kinds of results for yourself, you're in luck. Today we're going to share our top five tips for maximizing home value. 1. Add a fresh coat of interior and exterior paint. We have a client who recently invested $6,000 in repainting the interior and exterior of their home. By doing this, they boosted the value of their home by about $30,000. The home looked almost brand-new. 2. Add new flooring. If you've got old, scratched-up floors in your home, new floors can be a great way to add value. And you don't have to break the bank to do this. Luxury vinyl provides the look of expensive wood flooring without the cost.  “We recently helped a homeowner increase the value of her home by $200,000 by investing $50,000 into upgrading the look and feel of her property.” 3. Update the kitchen. This project is possibly the most value-boosting one on this list, but it can also be the most expensive. So be careful on which upgrades you take on. Be strategic with your spending to maximize your return.  4. Update the bathrooms. There are many ways to remodel your bathroom without moving around the plumbing. Upgrade flooring, add a new mirror, or update lighting can add a lot. Little things like adding fresh paint or reglazing the tub can make your bathrooms look fresh and updated as well. 5. Work on your landscaping. The curb appeal of your home can tell buyers a lot about your home. Fresh, neat landscaping can contribute greatly to a positive first impression. But it doesn't take a fortune to make your landscaping look nice. Trimming up trees and bushes, adding fresh flowers, and mowing your lawn are all easy ways to spruce things up. If you have any other questions or would like more information, feel free to give us a call or send us an email. We look forward to hearing from you soon. 

We are oftentimes asked by people who are considering making a move, “When is the best time to sell your home?” Most real estate agents would say that the best time to sell is springtime. However, do the facts actually support this view? Looking at the median sales price charts for LA and Orange County over the past six years, we can say that's pretty true. Generally speaking, the highest median sales prices occur from February through June, and the highest volume of homes being sold occurs in the May, June, and July range. Spring and summer are the hottest months of the year. “It's not as simple as saying that spring and summer are the best times to sell your home.” In order to close your transaction in those times, you need to have had your home on the market in the preceding month or two, so as to give buyers time to see your home and to close escrow. However, while the market might be the hottest right now, it also depends on your own personal factors, as well. Are you going through a job relocation? Are you getting married or having a baby soon? Are the kids about to start school? You need to consider all these things when it comes to timing a home sale. Recent real estate trends also play a role—the specifics of your home as well as the homebuyers that you'll likely attract. For example, while there are fewer buyers in the fall and winter, they tend to be a little more serious about getting their transactions done before the holidays. It's not as simple as saying that spring and summer are the best times to sell your home. If you'd like to receive an immediate estimate of the value of your home, click here to use our website's home valuation tool. For any other questions, feel free to reach out to use. We'd be happy to help you find your dream home.

We're in for a very competitive stretch in the real estate market.  First of all, mortgage rates have begun to increase. The 30-year average mortgage rate is now over 4% for the first time since last summer. This comes after a long period where we saw interest rates at record lows.  Freddie Mac's deputy chief economist Len Kiefer predicts that we've seen the last of sub-4% rates, thanks to rising inflation and broad-based economic growth. The bulk of this increase has occurred over just the last three or four months, during which rates have risen by nearly .5%.  Mortgage applications are also increasing. In January of this year, applications were up 4.1% year over year. This has been led by people looking to refinance their homes while mortgage applications remain fairly steady. Our market's current low level of inventory is another important factor to make note of. There are 10% fewer homes on the market today than there were at this time last year.  But, what do all of these numbers mean? Due to high buyer demand, rising rates shouldn't decrease the number of interested buyers in our market. However, the rise in rates might reduce the number of homes for sale, since rising rates leave homeowners with less incentive to list.  “If you have been thinking of listing, the current conditions make it very easy for you to earn top dollar.” A 0.5% rise may not sound significant, but it truly is. A 0.5% mortgage rate increase translates to a 6% increase on your monthly payment.  Not only that, but a 0.5% mortgage rate increase also translates to a 4.5% decrease in buying power.  A buyer who could afford a $700,000 home today would only be able to afford a $670,000 home after this 0.5% rise in rates. Fortunately, though, we can expect more inventory coming to the market during the spring and summer months. You can see all of these home listings on our website, www.imaginerealty.com, or on our mobile app. As a final note, now is a great time to sell. If you have been thinking of listing, the current conditions make it very easy for you to earn top dollar.  If you have any other questions or would like more information, feel free to give us a call or send us an email. We look forward to hearing from you soon.

I was driving through my neighborhood the other day when I saw what appeared to be a woman who had fallen on the concrete walkway in front of her home and was having a hard time getting back up. I pulled my car over and asked her if she needed help, but she insisted she was fine. I could tell she really needed help though, so with the help of a neighbor and with her permission, I called the paramedics and they helped her safely get back into her home. This experience reminded me that we all have loved ones like parents or grandparents who are getting older, and now is a very good time to start helping them plan where they're going to live. According to many experts, many seniors hold the unrealistic belief that they'll be able to live independently for the rest of their lives, and that's where their children or other family members can be instrumental in helping them plan for their future living situation. Many experts also maintain that it's best to discuss these living options early on before an emergency happens. If you have one or more elderly family members who live alone or you think need living assistance, keep in mind you have plenty of options out there to help them. Some options include: Moving in with them. Buying a home or condo for them in a 55-and-older community. Helping them move into an independent living facility or a nursing home. “It's best to discuss these living options early on before an emergency happens.” There a number of factors to consider in determining the best option. If they're looking to buy a home or condo in a 55-and-older assisted living community but they're worried that their taxes might go up, you can rest assured that the state of California offers Proposition 60 and Proposition 90 to help them transfer their tax base to their new property. If they live on a fixed income and they're worried they won't be able to afford a new home, they might have a lot of equity in their current home. If that's the case, we can use that equity to put them in a position where they can pay cash for a new home. There are plenty of communities out there that are relatively inexpensive. One of these is Leisure World, which has locations in Seal Beach, Huntington Beach, and Laguna Woods. Homes in Leisure World here in Seal Beach start at $150,000. If they want to finance a property but they're worried they won't qualify for a traditional mortgage because, again, they live on a fixed income, they can use a reverse mortgage. With a reverse mortgage, if they put down 50%, the mortgage will cover the rest of the purchase price. What's great about this is they won't need to make any mortgage payments. They could if they wanted to, but they don't have to. If you're facing a situation like this and you want to know more about these options or you have any other real estate needs I can help you with, don't hesitate to reach out to me. I'd be happy to help you. 

We recently represented a family that had the most stringent and difficult search criteria you could imagine. Not only did they want to live in a particular neighborhood in a particular school district, but they wanted to live on a specific street on a specific block. I'm proud to say that after a year of looking, we found them the right home and they're extremely happy. The process also reminded me of four important tips you need to know to find the right home, particularly now that inventory is so low. First, be prepared. We had the family that we represented talk to a lender in advance so they'd be ready to write an offer as soon as the right home became available. Second, once you find the right home, be ready to take action. Once this family found the right home, they wrote an offer within 24 hours. “There's a strategy to finding the right home and plans we can put in place to help you.” Third, be flexible. The home this family wanted needed a lot of work, but they were willing to be flexible. Fourth, have a backup plan. All the while, this family was looking at other options and were prepared to write an offer for a home that was a few blocks away. It was important for them to have this backup plan in place just in case. After a lot of work, we were able to find them a home that wasn't even on the market yet. Oh, and one more thing—this family that we “represented” was actually me and my family. The point is, I know that housing inventory is tight and a lot of buyers feel like they won't find their dream home. My family felt the same way. If you're a buyer, rest assured that there's a strategy to finding the right home and plans we can put in place to help you. If you have any questions about finding the right home or you're looking to buy a home, don't hesitate to reach out to me. I'd love to help you.

How will the new tax bill enacted at the end of 2017 affect buyers and sellers? It will do so in a number of ways, but there are three major changes you need to be aware of. The first is the standard deduction. The new tax bill increases the standard deduction to $12,000 for single filers and $24,000 for joint filers. Many homeowners may decide to simply take their standard deduction rather than itemizing their deductions. “These three changes will affect buyers and sellers in our market.” The second change is the mortgage interest deduction. The new tax bill lowers the cap on deductible debt from $1 million to $750,000. This change doesn't necessarily apply to people retroactively, so if you obtained your mortgage prior to December 14 of last year, it won't impact you. Going forward, though, it will impact those who take out new loans. The mortgage interest on second homes will still apply, but that also has been capped at the $750,000 limit. The third major change is the property tax deduction. The new law limits the property tax deduction for state and local property taxes to $10,000. Prior to this, there was no limit. To understand more in-depth how the new tax law impacts you personally, we recommend that you contact your tax preparer. if you don't have a tax preparer, feel free to reach out to us and we'd be happy to refer you to one. In our next video, we'll discuss how these tax changes will affect housing prices in Southern California. Until then, if you have any questions or you're in the market to buy, sell, or invest in real estate, don't hesitate to give us a call or shoot us an email. We'd be happy to help you.

On behalf of everyone with Imagine Realty, including Joyce, Jackie, Barbara, and Corrinne, Robert and I just want to thank you all for your support this year. Have a happy holiday season, and we wish everyone a safe, happy, and prosperous new year. To hear our full holiday message, watch this short video. 

Today I've got some exciting news that could help save homebuyers a lot of money. The Federal Housing Finance Agency just announced that they're increasing the conforming loan limits across the country.More specifically, this will really help out a lot of people in Los Angeles and Orange County, where the loan limit was increased from $636,150 to $679,650. That's a sizeable increase that will really help a lot of people get into a new home. “This change will really help a lot of people out in Los Angeles and Orange County.” For two-unit properties, they've increased the limit to $870,225. They've raised the limit for three-unit to $1,051,875. When it comes to four-unit properties, the limit has been raised to $1,307,175. This means that if your loan amount is within these limits, you can qualify for a conforming loan rather than a jumbo one. Conforming loans typically have lower interest rates and are easier to qualify for. They also don't have the cash reserve requirements that a jumbo loan would have. If you're already a homeowner, you can refinance and save yourself some money if your home falls within these requirements. If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.

We had a great turnout at our recent pumpkin pie giveaway. Whether you're a current client, past client, or a friend, thank you all so much for coming to support us. It was a great experience and we're truly fortunate to have the opportunity to work with so many great clients. Everyone at Imagine Realty wanted to wish you a Happy Thanksgiving. “Everyone at Imagine Realty wishes you a Happy Thanksgiving.”

The Fed recently made a very important statement that could have a profound impact on the housing market for homebuyers and sellers alike. In a nutshell, the Fed stated that they are going to start cutting back their balance sheet. What does that mean? Since the Great Recession started 10 years ago, the Fed has been trying to keep interest rates low. In order to do so, they've been purchasing an enormous amount of mortgage-backed securities and U.S. Treasury bills, bonds, and notes. Over the past few years, they've amassed $4.5 trillion of those securities. To put that number in perspective, the GDP of the United States is $18 trillion. Now, 25% of that is held by the Fed.   However, since the Fed wants to cut back their balance sheet, they will start selling these securities. They will start gradually by selling $10 billion per month, but that number will start to go up until the Fed is selling $50 billion of securities each month. As that happens, interest rates will go up. “Prices will have to soften as interest rates increase.” An interest rate increase could happen before the end of the year. In 2018, there could be as many as three interest rate increases by the Fed. These increases will impact rates across the board from housing to corporate to credit cards—you name it.   What does this mean for the housing market? Ultimately, homes will become less affordable. The housing market has been strong for the past four or five years. This year alone in Southern California, we've seen a 9% increase in the median price of a home. If rates go up, it will hurt buyers' ability to purchase homes at the current prices, so prices may start softening when interest rates go up. In fact, prices will have to soften as rates increase. What does all of this mean for you? If you've been thinking about buying a home, now may be a great time to do so before rates go up. If you've been thinking about your dream house, now is a great time to put your house on the market and move up into your dream property. Whether you're in a 2-bedroom condo and want that 3-bedroom, single-family home or you want to live by the beach or in a better school district, now may be the time to get a good price for your current home and capitalize on these low interest rates to purchase your dream home. If that's the case, you can always get an idea of what your home is worth in the current market with our online home valuation tool. If you want a more precise idea of what your home will sell for, or if you have any other real estate questions, just give me a call or send me an email. I would be happy to help you!

Contrary to conventional belief, selling your home in the fall can actually be a great idea. A lot of folks think that summer is the best time to list, but today I'd like to give you three reasons why this fall may be an even better time to sell. 1.) Housing inventory is low. Across the nation, the inventory is about half of what it was 10 years ago. This is also true here in Southern California. As a result, sellers have very little competition. 2.) Interest rates will increase. The Fed is expected to raise the interest rate once more this year, and three times more in 2018. This year, prices have risen as well. Throughout Southern California, we've seen them increase by about  9%. The rise in price coupled with a higher interest rate is going to make homes a lot less affordable for buyers in the future. “Fall buyers are very serious and very competitive.” 3.) Fall is a good time to sell. The buyers on the market right now are very serious. These buyers have probably been looking for homes throughout spring and summer. After all that time on the market, they're still looking now because they either couldn't find the right home previously or because they've been unable to get their offers accepted. Because of this, these buyers have realized they need to be much more competitive. December is actually as strong a month for volume, as are June and July. As a seller, you can know that fall buyers are very serious and very competitive. If you have any other questions, would like more information, or want to talk to my team and I about selling your home, feel free to give me a call or send me an email. I look forward to hearing from you soon.

For homebuyers looking to buy a home in this market, it's an exciting time—the market is really hot and homes are selling quickly. But it can also be pretty frustrating. When they do find that perfect home, they may all of a sudden find out that there are multiple buyers that are also interested in that same property. “Chances are, if it's your dream home, it's also someone else's dream home.” So, how can you make your offer stand out in the crowd? 1. Submit a large earnest money deposit. By going that route, it really shows the seller that you're serious about purchasing their home. It also shows that you're serious about closing on that purchase. 2. Show the sellers that you're qualified. In this climate, in most cases, there are multiple offers on a property. In our area, the average days on market has dropped to just 13 days, which is really amazing. Be sure that you have a pre-approval letter from your lender. Nowadays, if you can get your pre-approval reviewed by an underwriter, it really can strengthen your offer as well. 3. Give the sellers more time to move. Sellers may need a little time between the closing of escrows, so let them know up front that you're willing to give them two or three days to comfortably move into their new home. 4. Shorten or waive some of your contingencies. The standard contract gives you 17 days after your offer has been accepted to do the inspections and appraisals and give the property your due diligence. If you're willing to shorten that period and/or shorten the 21-day period of your loan contingency, that can also make your offer stand out. 5. Write your best offer. The market is very competitive right now, so don't look forward to doing a lot of negotiating back and forth. As far as your offer goes, lean toward making your best offer up front. This lets the seller know that you're genuinely interested in their property, and certainly will put you in a stronger position. Chances are, if it's your dream home, it's also someone else's dream home, which is a recipe for a multiple-offer situation. Be sure to keep these tips in mind in order to strengthen the position you hold in a competitive real estate market. If you are looking to buy or sell a home in this hot market, go ahead and give us a call or reach out to us on our website. Let's find your dream home.

When settling the estate of a recently deceased loved one, there are three key steps you need to take. In the unfortunate event of the loss of a loved one, what steps do you need to take to handle their estate? According to Reba Birmingham of Long Beach Law, since it's possible you might not be thinking clearly at the time of said loved one's death, the first step is to capture documents that might be important later and throw them into a folder. This includes bank and stock statements and any deeds that might be lying around the house. After that, you have to wait. You have to grieve—there will be family members to notify and a memorial to put on. These things take time. It also takes time to get the death certificate, which is the key to opening up some of those bank accounts and insurance claims. “SEE AN ATTORNEY THAT PRACTICES REGULARLY IN ESTATE PLANNING AND TRUST ADMINISTRATION OR PROBATE.” Next, see a professional. See an attorney that regularly practices in estate planning and trust administration or probate. If you have any questions for Reba, you can call her at 562-621-6300 or visit her firm's website at LongBeachLaw.com. If you have any questions for me, feel free to give me a call or shoot me an email. I look forward to hearing from you.

When settling the estate of a recently deceased loved one, there are three key steps you need to take.In the unfortunate event of the loss of a loved one, what steps do you need to take to handle their estate?  According to Reba Birmingham of Long Beach Law, since it’s possible you might not be thinking clearly at the time of said loved one’s death, the first step is to capture documents that might be important later and throw them into a folder. This includes bank and stock statements and any deeds that might be lying around the house.  After that, you have to wait. You have to grieve—there will be family members to notify and a memorial to put on. These things take time. It also takes time to get the death certificate, which is the key to opening up some of those bank accounts and insurance claims. See an attorney that practices regularly in estate planning and trust administration or probate.Next, see a professional. See an attorney that regularly practices in estate planning and trust administration or probate.  If you have any questions for Reba, you can call her at (562) 621-6300 or visit her firm’s website at LongBeachLaw.com. If you have any questions for me, feel free to give me a call or shoot me an email. I look forward to hearing from you.

There are three guidelines you can follow if you’re a home seller and you have a pet to ensure your home gets sold quickly, safely, and for its maximum price.If you have a pet and you’re looking to sell your home, there are some special considerations you must keep in mind to ensure the safety of your pet and any potential buyers, and that your property looks great and sells for the most money possible. The good news is most homebuyers are often looking for pet-friendly homes. Two out of every three buyers typically have pets of their own, and they want to make sure their new home is a good match for their pet. In fact, according to a recent survey, 31% of animal owners take their pet into consideration when buying a home. On the other hand, 67% of Realtors say a home that has pets is harder to sell. With this information in mind, here are three guidelines you can follow to strike the right balance and sell your pet-occupied home quickly and for top dollar. By following these three guidelines, you’ll be able to sell your home for top dollar. First, repair any damage. Sometimes you can tell where a pet’s been just by looking at scratched doors or walls or a hole that’s been dug in the backyard. Repairing this type of damage will pay for itself many times over and help increase your home’s sale price. Second, hire a professional to remove any pet odors. Many pet owners are less sensitive to it than the people visiting their home and less aware of the odors that might be lingering because of their pets. Have a professional deodorize the rugs, the carpeting, the furniture, and anything else that has a tendency to absorb pet odor. Once that’s done, have a friend or your Realtor give your home a sniff assessment to see if the job’s taken care of. Third, remove your pet during any showings. Regardless of the time and money you’ve spent getting your home ready for prospective buyers, some of them might still feel prejudiced against it just knowing that a pet lives there. Removing them from the premises makes it a more comfortable situation for everyone. You should also remove any pet objects like toys, food bowls, and scratching pads. If you need more tips on how to sell your home with pets or you’re looking to buy or sell a home, feel free to give us a call or send us an email. We’d be happy to assist you.

There are three guidelines you can follow if you're a home seller and you have a pet to ensure your home gets sold quickly, safely, and for its maximum price. If you have a pet and you're looking to sell your home, there are some special considerations you must keep in mind to ensure the safety of your pet and any potential buyers, and that your property looks great and sells for the most money possible. The good news is most homebuyers are often looking for pet-friendly homes. Two out of every three buyers typically have pets of their own, and they want to make sure their new home is a good match for their pet. In fact, according to a recent survey, 31% of animal owners take their pet into consideration when buying a home. On the other hand, 67% of Realtors say a home that has pets is harder to sell. With this information in mind, here are three guidelines you can follow to strike the right balance and sell your pet-occupied home quickly and for top dollar. “BY FOLLOWING THESE THREE GUIDELINES, YOU'LL BE ABLE TO SELL YOUR HOME FOR TOP DOLLAR.” First, repair any damage. Sometimes you can tell where a pet's been just by looking at scratched doors or walls or a hole that's been dug in the backyard. Repairing this type of damage will pay for itself many times over and help increase your home's sale price. Second, hire a professional to remove any pet odors. Many pet owners are less sensitive to it than the people visiting their home and less aware of the odors that might be lingering because of their pets. Have a professional deodorize the rugs, the carpeting, the furniture, and anything else that has a tendency to absorb pet odor. Once that's done, have a friend or your Realtor give your home a sniff assessment to see if the job's taken care of. Third, remove your pet during any showings. Regardless of the time and money you've spent getting your home ready for prospective buyers, some of them might still feel prejudiced against it just knowing that a pet lives there. Removing them from the premises makes it a more comfortable situation for everyone. You should also remove any pet objects like toys, food bowls, and scratching pads. If you need more tips on how to sell your home with pets or you're looking to buy or sell a home, feel free to give us a call or send us an email. We'd be happy to assist you.

Our market conditions are ripe for those looking to move into a new home. You can sell quickly and profitably, and buy while interest rates are low.If you’ve been thinking about selling your home, three recent developments make this an ideal time to do so. 1. Mortgage rates have stabilized. They were at 3.4% last July, then shot up to 4.3% right after the election in November. Since then, the rates have stabilized and are still very low (historically speaking).2. Job numbers are up. The U.S. Bureau of Labor Statistics reported that 225,000 new jobs were created in February. Over the past 12 months, we’ve seen 2.3 million jobs created. Business is doing well, consumer confidence is high, and it all bodes well for the future of the housing market. It’s a great time to buy and to sell. 3. Housing inventory is extremely low. February saw an almost 18% drop in the number of homes for sale. Since October 2008, we have consistently seen a steady decline in inventory. In fact, we’ve had 100 consecutive months of decreased inventory.What does all this mean for you? Well if you’re thinking about selling, right now is the perfect time. You can sell very quickly in this market. Last year, homes were taking an average of 43 days to sell. While that’s still a great number, homes are selling in an average of just 30 days right now. With such low inventory, you can expect to get a great price for your home sale. It’s also a good time to buy with interest rates staying low and steady. This market is a win-win situation if you’re looking to make a move. If you or somebody you know is interested in buying or selling soon and taking advantage of this market, give us a call or send us an email. We look forward to hearing from you.

Our market conditions are ripe for those looking to move into a new home. You can sell quickly and profitably, and buy while interest rates are low. If you've been thinking about selling your home, three recent developments make this an ideal time to do so. 1. Mortgage rates have stabilized. They were at 3.4% last July, then shot up to 4.3% right after the election in November. Since then, the rates have stabilized and are still very low (historically speaking). 2. Job numbers are up. The U.S. Bureau of Labor Statistics reported that 225,000 new jobs were created in February. Over the past 12 months, we've seen 2.3 million jobs created. Business is doing well, consumer confidence is high, and it all bodes well for the future of the housing market. “IT'S A GREAT TIME TO BUY AND TO SELL.” 3. Housing inventory is extremely low. February saw an almost 18% drop in the number of homes for sale. Since October 2008, we have consistently seen a steady decline in inventory. In fact, we've had 100 consecutive months of decreased inventory. What does all this mean for you? Well if you're thinking about selling, right now is the perfect time. You can sell very quickly in this market. Last year, homes were taking an average of 43 days to sell. While that's still a great number, homes are selling in an average of just 30 days right now. With such low inventory, you can expect to get a great price for your home sale. It's also a good time to buy with interest rates staying low and steady. This market is a win-win situation if you're looking to make a move. If you or somebody you know is interested in buying or selling soon and taking advantage of this market, give us a call or send us an email. We look forward to hearing from you.

Selling a home while trying to buy a new one can be a major obstacle. Luckily, there are two options that will keep you from having to pay two mortgages or move twice.If you are looking to sell your current home and purchase a new one, there are a couple of options that will ensure you don't have to pay two mortgages at the same time or have to move twice. The first option is to sell your home contingent upon you purchasing your new home. This lets the buyer know that they will not be able to close on your property until you close on your new home. By doing this, you won’t have to pay two mortgages or move twice, but the buyer of your home won’t have the certainty of a closing date, preventing them from being able to lock in an interest rate. Also, if it takes you awhile to find that new home, the buyer could potentially get cold feet and walk away. The second option is to sell your home and negotiate a rent-back. You would close on the sale of your home in the normal 30-45 day time frame, but then negotiate renting back your home from the buyers for anywhere from 30 to 90 days or longer if need be. That gives you time to make sure you find and are happy with the new home that you’re purchasing. It also gives the buyer the certainty of a closing date so they can lock in their interest rate.A rent-back would give you the time you need to find your new dream home. Like the first option, this option keeps you from paying two mortgages or moving twice, but it also eliminates uncertainty for the buyers. It makes you a stronger buyer, as you know your property will close. If you’d like to see which option would work best for you or you are looking to buy or sell a home, please feel free to give me a call or send me an email. I’m always happy to help.

Selling a home while trying to buy a new one can be a major obstacle. Luckily, there are two options that will keep you from having to pay two mortgages or move twice. If you are looking to sell your current home and purchase a new one, there are a couple of options that will ensure you don't have to pay two mortgages at the same time or have to move twice. The first option is to sell your home contingent upon you purchasing your new home. This lets the buyer know that they will not be able to close on your property until you close on your new home. By doing this, you won't have to pay two mortgages or move twice, but the buyer of your home won't have the certainty of a closing date, preventing them from being able to lock in an interest rate. Also, if it takes you awhile to find that new home, the buyer could potentially get cold feet and walk away. The second option is to sell your home and negotiate a rent-back. You would close on the sale of your home in the normal 30-45 day time frame, but then negotiate renting back your home from the buyers for anywhere from 30 to 90 days or longer if need be. That gives you time to make sure you find and are happy with the new home that you're purchasing. It also gives the buyer the certainty of a closing date so they can lock in their interest rate. “A RENT-BACK WOULD GIVE YOU THE TIME YOU NEED TO FIND YOUR NEW DREAM HOME.” Like the first option, this option keeps you from paying two mortgages or moving twice, but it also eliminates uncertainty for the buyers. It makes you a stronger buyer, as you know your property will close. If you'd like to see which option would work best for you or you are looking to buy or sell a home, please feel free to give me a call or send me an email. I'm always happy to help.

We wanted to take a brief moment to express our gratitude to you today. Let us say thanks with a free pumpkin pie.We wanted to reach out today to wish you a happy Thanksgiving. We're extremely fortunate and thankful to have the opportunity to work with amazing people like you. Our business wouldn't be what it is without you.We're thankful for you, our clients. We greatly appreciate the opportunity you've given us to serve you and your wonderful family. More importantly, we appreciate the great friendships we've formed along the way.If you haven't had the chance yet, RSVP to our free pumpkin pie giveaway! It's our little way of saying thanks. To RSVP, simply send me an email or give me a call. Have a happy Thanksgiving!

The holiday season is actually a great time to sell a home. Rates are low, fewer homes are on the market, and a lot of buyers need to close by the end of the year.With the holidays approaching, myself and Corinne Wallace are often asked questions by folks this time of year that are thinking of selling. They want to know if selling now in LA and Orange County is a good idea, or if they should wait until after the new year. In our experience, now is a better time to sell than if you wait. There are five different reasons why:1. Interest rates are still low. There is a chance that they will go up in December when the Fed meets. Locking in a low rate now is smart.Interest rates are still low, but may go up in December. 2. There are typically fewer homes on the market, giving buyers fewer to choose from. 3. Homes that are decorated for the holidays really sell quickly.4. There are buyers that want to buy and close before the holidays. December is actually the top month for closed home sales.5. The buyers looking to buy during the holidays are very serious. There will be fewer looky-loos coming through your home.If you or someone you know is looking to buy or sell a home in Long Beach, LA, or Orange County, give us a call or send us an email. We look forward to hearing from you.

Andrew Scammon from Alpine Mortgage joins me today to help explain how you can use a reverse mortgage to purchase a home.Today I’m joined by Andrew Scammon from Alpine Mortgage to talk about how you can use a reverse mortgage to purchase a home. We work with more and more folks nowadays who are either retired or about to retire and would like to buy a new home but are unsure they can qualify for a conventional loan. This is typically because they either live on a fixed income or are about to live on a fixed income. If you’re planning to downsize as part of your retirement plan, a reverse mortgage could be a useful tool for you because when you compare a reverse mortgage to a cash purchase, it effectively doubles your money.This comes in handy for anyone wanting to sell off their existing home and downsize but knows they won’t realize enough benefit from that sale to make a cash purchase for their next home. If you net $200,000 from your home sale, that’s not going to buy much house. A reverse mortgage can double that sum and allow you to purchase a $400,000 house. Of course, there are some cautions you need to take. You need to work with a seasoned Realtor who knows their way around the market. If you’re looking for a condominium, it would have to be an FHA-approved condominium. For many people, though, it’s become relatively commonplace to identify properties they love without having to worry about making a mortgage payment or qualifying for one because of reverse mortgages. Reverse mortgages alleviate the worry of having to qualify for a mortgage loan. With reverse mortgages, payments are allowed but not required. You can purchase a $400,000 house by putting down $200,000 and getting a $200,000 reverse mortgage. When the house goes to your estate or heirs, they have time to prepare the property, market it effectively, and realize the best gains on it that they can. The reverse mortgage balance is then paid off and the heirs divide up the remaining equity. The only age requirement for using a reverse mortgage is at least one of the borrowers must be 62 years old. I want to thank Andrew for joining me today. If you know anyone who is looking to use a reverse mortgage to purchase a home, you can call him at (562) 743-0111 or visit his website at effectiveretirement.com. If you or anyone you know are looking to buy, sell, or downsize, feel free to reach out to me. I’d be happy to help.

Andrew Scammon from Alpine Mortgage joins me today to help explain how you can use a reverse mortgage to purchase a home. Today I'm joined by Andrew Scammon from Alpine Mortgage to talk about how you can use a reverse mortgage to purchase a home. We work with more and more folks nowadays who are either retired or about to retire and would like to buy a new home but are unsure they can qualify for a conventional loan. This is typically because they either live on a fixed income or are about to live on a fixed income. If you're planning to downsize as part of your retirement plan, a reverse mortgage could be a useful tool for you because when you compare a reverse mortgage to a cash purchase, it effectively doubles your money. This comes in handy for anyone wanting to sell off their existing home and downsize but knows they won't realize enough benefit from that sale to make a cash purchase for their next home. If you net $200,000 from your home sale, that's not going to buy much house. A reverse mortgage can double that sum and allow you to purchase a $400,000 house. Of course, there are some cautions you need to take. You need to work with a seasoned Realtor who knows their way around the market. If you're looking for a condominium, it would have to be an FHA-approved condominium. For many people, though, it's become relatively commonplace to identify properties they love without having to worry about making a mortgage payment or qualifying for one because of reverse mortgages. “REVERSE MORTGAGES ALLEVIATE THE WORRY OF HAVING TO QUALIFY FOR A MORTGAGE LOAN.” With reverse mortgages, payments are allowed but not required. You can purchase a $400,000 house by putting down $200,000 and getting a $200,000 reverse mortgage. When the house goes to your estate or heirs, they have time to prepare the property, market it effectively, and realize the best gains on it that they can. The reverse mortgage balance is then paid off and the heirs divide up the remaining equity. The only age requirement for using a reverse mortgage is at least one of the borrowers must be 62 years old. I want to thank Andrew for joining me today. If you know anyone who is looking to use a reverse mortgage to purchase a home, you can call him at 562-743-0111 or visit his website at effectiveretirement.com. If you or anyone you know are looking to buy, sell, or downsize, feel free to reach out to me. I'd be happy to help.

Today we're taking a look back at how the market performed in 2016 and what we should expect in LA moving ahead in 2017.Today I wanted to take a moment to take a look back at how the Los Angeles housing market did in 2016 and provide a forecast for what we can expect from the market moving forward in 2017.Last year in Los Angeles County, we saw the median price for single-family homes go from $535,000 to $580,000 in 12 months, which is an 8.4% increase. Moving to Orange County, we saw the median price rise from $695,000 to $735,000 in that same 12-month span from January 2016 to January 2017, good for a 5.8% increase. We had a really strong year in terms of price appreciation.We also continue to experience very low levels of housing supply in our market.In LA County, for example, we have just 2.4 months worth of homes for sale. That means that if no new homes came onto the market, it would only take 2.4 months to sell all the homes currently on the market at the going rate, and that's a very low number. In Orange County, we have just 2.6 months of supply. These are some of the lowest levels of inventory we've seen in a long time, and they are certainly the lowest numbers I've seen in my 13 years in real estate.There are a few reasons for this low inventory, starting with the fact that there are a lot of people looking to buy a home thanks to low interest rates. Additionally, there are a lot of people who simply don't want to sell their house. Many of these people are baby boomers who have lived in their house for decades and just don't have a reason to sell it.The California Association of Realtors forecasts that we will have another good year. This year, the California Association of Realtors forecasts that we will have another good year with prices rising about 4.6% throughout the state of California. If you've been thinking about selling your house, it's a great time to figure out what your home is worth, and we've got great online value calculator that can give you an idea. This calculator can't consider everything in your home like your view and the updates you've made to the home, which is where I come in.If you'd like me to tell you exactly what your home is worth or you're thinking about buying a home in the LA area, give me a call or send me an email. I'd be glad to help!

Today we're taking a look back at how the market performed in 2016 and what we should expect in LA moving ahead in 2017. Today I wanted to take a moment to take a look back at how the Los Angeles housing market did in 2016 and provide a forecast for what we can expect from the market moving forward in 2017. Last year in Los Angeles County, we saw the median price for single-family homes go from $535,000 to $580,000 in 12 months, which is an 8.4% increase. Moving to Orange County, we saw the median price rise from $695,000 to $735,000 in that same 12-month span from January 2016 to January 2017, good for a 5.8% increase. We had a really strong year in terms of price appreciation. We also continue to experience very low levels of housing supply in our market. In LA County, for example, we have just 2.4 months worth of homes for sale. That means that if no new homes came onto the market, it would only take 2.4 months to sell all the homes currently on the market at the going rate, and that's a very low number. In Orange County, we have just 2.6 months of supply. These are some of the lowest levels of inventory we've seen in a long time, and they are certainly the lowest numbers I've seen in my 13 years in real estate. There are a few reasons for this low inventory, starting with the fact that there are a lot of people looking to buy a home thanks to low interest rates. Additionally, there are a lot of people who simply don't want to sell their house. Many of these people are baby boomers who have lived in their house for decades and just don't have a reason to sell it. “THE CALIFORNIA ASSOCIATION OF REALTORS FORECASTS THAT WE WILL HAVE ANOTHER GOOD YEAR.” This year, the California Association of Realtors forecasts that we will have another good year with prices rising about 4.6% throughout the state of California. If you've been thinking about selling your house, it's a great time to figure out what your home is worth, and we've got great online value calculator that can give you an idea. This calculator can't consider everything in your home like your view and the updates you've made to the home, which is where I come in. If you'd like me to tell you exactly what your home is worth or you're thinking about buying a home in the LA area, give me a call or send me an email. I'd be glad to help!

Happy Valentine's Day! Valentine’s Day is right around the corner, and we just wanted to take the time to say thank you! We had a great response from our clients for our See’s Candy Gift Card Giveaway. Due to such a great response, the giveaway has now come to a close.We hope your Valentine's Day is a day filled with love and friendship, and looking forward to seeing you in 2017.

Happy Valentine's Day! Valentine's Day is right around the corner, and we just wanted to take the time to say thank you! We had a great response from our clients for our See's Candy Gift Card Giveaway. Due to such a great response, the giveaway has now come to a close.We hope your Valentine's Day is a day filled with love and friendship, and looking forward to seeing you in 2017.6

Friends, We know this time of year can get very busy, so we just wanted to take a moment to wish you happy holidays! We'd like to take a minute to thank you for your continued support this year. We wouldn't be where we are today without you. It has been our pleasure to help make your real estate dreams come true. We hope you enjoy this holiday season and make some wonderful memories with your friends and family. It truly is the most wonderful time of the year. Remember, we are always here to help you in any way we can. Just give us a call.