San Fernando Valley Real Estate Podcast with Scott Himelstein

Here's why our market is slowing down a bit but still very active. In 2021, the majority of us have been dealing with a frenzied seller's market. This is the strongest seller's market in U.S. history! Back in April, there were only 18 properties for sale in the 91326 ZIP code—that's 18 properties out of 13,000 single-family units. That's how low inventory was. Fast forward to July, and the average median price for a single-family home in the San Fernando Valley is $955,000. It's been over $900,000 for the past four months, so that shows that prices continue to rise. “The market has slowed down just a little bit, but you can still take advantage.” Over the last few months, we've not only been seeing multiple offers but dozens of offers. However, in the last 30 days, that's beginning to dwindle a little. I think that has to do with the fact that people are now able to travel and get out of the house, so many are making the most of the summer vacations they weren't able to take last year. June and the first two weeks of July tend to be the slowest times of the year for real estate. Also consider the fact that many buyers have been priced out of the market due to rising home prices, which have gone up over 30% since COVID started. On top of that, many have also been dealing with the emotional toll that writing 20 to 30 offers can entail, especially when those offers aren't accepted. Buyers like those have moved to the sidelines to wait until the market cools down. So what does this all mean? If you're a buyer, you'll start to see a bit less competition; a home that might have had 25 to 30 offers on it might only now have five to 10. There will still be multiple-offer situations, but the competition will be less fierce unless you're under the $1 million price point. If you're a seller, prices have already increased a lot this year (up to 35% in some areas of the San Fernando Valley), so this is still an extremely good time to sell your home for top dollar. If you have any questions about the market or real estate in general, don't hesitate to reach out to us. We'd love to help you.

We'd love to see you at Shepherd Church for their amazing fireworks show. Last year, we didn't have any firework shows due to COVID-19. Over the last month, a lot of the traditional firework shows around L.A. have been scheduled at places like the Hollywood Bowl, the Rose Bowl, and Disneyland. Our pick for the best spot to check out 4th of July fireworks in the SFV this year is Shepherd Church in Porter Ranch. For all the details about the event, check out this link. To hear my full message, watch this short video.

Here's what I believe will happen to our market in the near future. A lot of people are wondering about what might happen with the real estate market throughout 2021, so today I'll be sharing my predictions. Real estate, like any other market, revolves around supply and demand. In order to predict what we may see in the coming months, it's important to look at what affects these two factors. Demand is typically influenced by the economy, which has been doing great lately, and our incredibly low interest rates have caused buyers to flood into the market. It's an inverse relationship: low rates mean high demand, while high rates mean low demand. “For prices to go down, we'll need a lot more supply in order to satisfy demand.” On the other hand, our current supply is incredibly low. Home inventory is down 65% from last year, meaning that many buyers want homes but there are very few houses to choose from. As a result, home prices have skyrocketed. As for the future, I expect interest rates to rise and inventory levels to increase. However, I don't think this means that prices will go back down. There's such a huge gap between supply and demand right now that even if interest rates sharply increase, there's still going to be many motivated buyers. For prices to go down, we'll need a lot more supply in order to satisfy demand.  So, my prediction is that prices will continue to rise throughout the rest of the year. If you have any questions or would like to jump into the market before prices increase even more, feel free to reach out to me. I look forward to hearing from you soon.

If you're able to buy now, you're better off doing that instead of waiting. Should you buy now or wait until the market cools off? If you're thinking of buying in 2021 (or have already made a purchase), you're aware of how insanely hot the market is right now. We're seeing homes fetch multiple offers and sell in a matter of days. It's difficult just to even show a house, let alone get an offer accepted. It's normal to think about taking a step back and wait until the end of summer or the end of the year to buy, so let's take a look at that exact scenario. Prices in the San Fernando Valley are rising 2% to 3% per month, and the median price for a single-family home in Los Angeles County is about $850,000. This means every month you wait to buy, the average home increases in price by $17,000. In just six months, you'd be looking at over $100,000 extra in equity. To be honest with you, I don't see this train stopping anytime soon. Interest rates have ticked upward slightly, but inventory won't change and demand is still out there. Buyers can still afford to buy. So ask yourself: If houses are rising in price by $100,000 or more, does it still make sense to wait six months to buy? Even if you can save up a little extra during that time for the down payment, the answer will likely be no. “To be honest with you, I don't see this train stopping anytime soon.” Here's another common question buyers ask me: Does it make sense for me to pay top dollar for a house? To answer that question, let me give you a personal example. My family bought a home in this market not too long ago, and we paid the most in the neighborhood for it. You know what? It was a little scary. At the time, I couldn't believe we paid that amount. After a few months, though, someone else paid a higher price for another home. Using the numbers from above, if you buy a home for $850,000, someone else will be buying a home a month later for $867,000. A month after that, someone else will pay $884,000 for another home. After six months to a year, buyers will be purchasing homes for $950,000 to $1 million. After all that time, paying $850,000 for a home won't seem so bad.  So again, unless outstanding circumstances are forcing you to wait, it probably makes more sense for you to buy now in this marketplace. Yes, it's crazy. Yes, it's frustrating. Yes, you'll probably have to submit offers on multiple homes before one of them gets accepted. Don't give up, though. Right now is a great time to buy, so get out there and take advantage of these low interest rates. If you'd like help finding a home or there's anything else I can assist you with, don't hesitate to reach out to me. I'd love to hear from you.

Here's why selling your home in just one day isn't beneficial to sellers. If a home sold in one day, the seller likely left money on the table. I see other real estate agents on social media boasting that they've sold a house in one or two days. Today I want to explain why that's so detrimental to sellers.  First, you should know that our local board says that for-sale homes are currently averaging 34 showing requests. Here in 2021, our team is averaging 60 showing requests per listing, and several have had over 100. With that in mind, if you put your house on the market on a Thursday, which is what we recommend, it allows the property time to be shown on all the different internet sites.  We advise having your home on the market for a full weekend. We typically begin showings on Saturday morning, and they go for six or seven hours on both Saturday and Sunday. If you're averaging four showings per hour, after seven hours, you've had 28 showings, which means you need more than one day. As a seller, you want as many people walking through your house as possible.  “Our team is averaging 60 showing requests per listing.” Sometimes it's not always feasible to get every interested buyer into the home, but you want to give everyone a fair chance. You want as many opportunities as possible to get excellent offers because you'll be able to dictate the terms due to all that competition. It's not just about price when you have eight to 20 offers on the table; you can consider the appraisal, waiving contingencies, free rent-back, and more.  I see many agents put a house on the market on Friday, then it's sold by Saturday evening, but they're not allowing everyone to see the home. So though they may get two to four offers, they may be leaving tens of thousands of dollars on the table. Have the property on the market for at least two to three days; then, set the offer deadline on either Monday or Tuesday and be sure to dedicate a few days to the counteroffer process. If you have any questions about selling or our current real estate market, give us a call or send an email. We would love to help you.

Here are five main factors that indicate why we aren't in a housing bubble. The main question I get asked many times daily is: Are we in a housing bubble? I can't predict the future (and if I could, I'd be in a different line of work), but there are plenty of factors that indicate the real estate market isn't going to crash. Here are the five main factors in our market that reveal a crash isn't imminent:  1. Inventory. Inventory is very tight; this is the best seller's market in U.S. history. Specifically here in the North Valley, we have less than a half-month of supply. Currently, in ZIP code 91326, we only have 18 homes for sale out of 13,000+ single-family units. In 2007 and 2008 there were around five months of supply on the market. 2. Pent-up buyer demand. This is one of the reasons inventory won't be significantly changing for a while. We had quite a bit of buyer demand even before the pandemic, so with the number of millennials looking to buy and COVID-19 causing people to reevaluate what's essential to them in a home, we're seeing an increase in demand. “With all these variables, it's very unlikely that we'll find ourselves in a bubble that will crash.” 3. Equity. Right now, 17.8 million homeowners have a decent amount of equity in their homes, which is a large improvement from the early 2000s before the last financial mortgage crash. This leads me to my next point… 4. Real borrowers. Much of the equity people have has to do with having loans they can truly afford. Back before the last bubble burst, a slew of people getting mortgages shouldn't have been able to qualify for one. With today's stringent standards, it's much more difficult to qualify for a loan, so the people who are getting financing genuinely qualify and can make their payments. 5. The price of lumber. Not enough people are talking about this: Homebuilders need to outpace the demand for new housing. That's not going to happen anytime soon for the pure fact that the price of lumber has risen over 200% within the last 12 months. With all these variables, it's very unlikely that we'll find ourselves in a bubble that will crash, though we may see a small market correction.  If you have further questions about these points or concerning another real estate matter, give us a call or send an email. We would love to help you.

Here's what it means to be a buyer in today's market. As you most likely know, right now we have one of the most competitive real estate markets in U.S. history—definitely the lowest inventory we've ever seen. If you're a buyer, what does this mean for you? It means you have to be a lot more competitive and aggressive. We're seeing a lot of buyers remove all of their contingencies (loan, inspection, appraisal, etc.) just to make sure their offers are competitive, in addition to where they need to be price-wise and down payment-wise. For example, we just wrote an offer for a client on a Porter Ranch home that was $100,000 over the list price. We removed the inspection contingency from the offer, but the seller ended up accepting an offer that removed all contingencies. Additionally, the buyer made their initial deposit non-refundable. If they backed out, they would've lost that money. “The buyers who are being very aggressive are the ones who are getting their offers accepted.” That's the type of aggressiveness we're seeing from buyers because inventory is so low and competition is so high (even in higher price points). It's not uncommon for a lot of listings to have 60 to 125 showings and snag anywhere from 10 to 20 offers over just two days. Knowing this, the buyers who are being very aggressive are the ones who are getting their offers accepted.  If you want to make an offer on a home with a traditional 21-day loan contingency, 17-day appraisal contingency, and/or 17-day inspection contingency, your offer won't be accepted. A lot of buyers are surprised by the fact that it's not just the down payment and price that matter in an offer; the terms and conditions matter too. Because of the type of market we're in, sellers can dictate these things as well.  What about sellers? In the video above, I'm standing in front of a Northridge townhouse that one of our clients was able to sell through our database because the client didn't want a lot of people walking through her property. We were able to find her a buyer and close for top dollar. If you're a seller looking to do the same thing, give me a call. There's an 80% chance my team and I know somebody in our database who'd be willing to buy your house.  If you have any questions about the buying or selling process or the market in general, feel free to reach out to me as well. I'd love to hear from you.

Here's the latest update from our San Fernando Valley real estate market. Here's the latest update from our San Fernando Valley real estate market. What's happening in our real estate market here in March? Back at the beginning of 2021, we had the fewest homes for sale in history. That trend of extremely low inventory has continued in today's market. The number to pay attention to is pending sales because ‘solds' are houses that sold 30 to 45 days ago. Pending deals are more recent and have not yet been closed.  In the San Fernando Valley, we have fewer than 800 properties for sale altogether, which is less than a one-month supply. We need six months of inventory before neither sellers nor buyers have an advantage in the marketplace. Granada Hills (91344) currently only has 24 homes for sale and 55 pending out of almost 14,000 single-family units. Nearby Porter Ranch (91326) only has 22 houses for sale and 81 pending. That demonstrates that demand is still very high. “This is one of the best markets in U.S. history in which to sell a home.” The property I'm standing in front of in the video above had over 60 showings in just two days and it sold for nearly $100,000 over list price. Clearly, the market is very strong right now. If you're considering selling, this is one of the best markets in U.S. history in which to sell a home. If you're a buyer, even though rates have hiked a bit above 3%, they're still historically low, and this is the time to get into a house before rates increase even more.  No one should miss out on this great market. So if you have any other questions about our market or other real estate matters, give me a call or send an email. I would love to help you.

Here's what a rising rate environment means for SFV buyers and sellers. Back in early February, interest rates for a 30-year fixed-rate conforming loan were hovering around 2.5%. As of the last few days or so (prior to the recording of this video), the average rate on that same loan was closer to 3.2%—up from 3% at the beginning of March. Believe it or not, you have to go way back to July 2020 to see interest rates this high. It's clear 2021 won't be a second consecutive year of watching rates limbo to new record lows on every month. What does this upward trend in rates mean for buyers and sellers? If you're a seller, the good news is that inventory remains chronically low throughout the San Fernando Valley and there's still a lot of demand. The number of showings that we're seeing on our listings hasn't budged. You just need to do your due diligence as a seller to make sure your buyer touches base with your agent's lender of choice to verify that they're still qualified at the new interest rate. “Don't lose sight of the bigger picture; this new decade has seen the lowest rates in history.” If you're a buyer, this is still the time to act. The rates are a bit higher, sure, but they're still historically low; that's why we haven't seen demand taper off yet. The house that you can see behind me in the video above was sold before it ever came on the market. The buyer whose offer we accepted was aware of the increase in interest rates, but they were also savvy enough to know that this new decade has seen the lowest rates in history. As the economy recovers, vaccines are distributed, and the threat of inflation grows more real, it's possible that rates will be quite volatile over the next several months. My advice: Lock in these low rates while you still can.  As always, feel free to reach out if you have questions about this or any other real estate topic. I'm happy to be a resource for you and assist with whatever buying, selling, or investing needs you may have.

We are facing a massive inventory crisis in our San Fernando Valley market! At the end of 2020, it was announced that we had the lowest number of homes available for sale ever recorded in the national market. The same story played out here in our San Fernando Valley market. To have a balanced market where appreciation can progress naturally, you need to be working with about six months of inventory. At year's end, we were hovering between a one- and 1.5-month supply of inventory, which is insanely tight. Now, it's gotten even worse; we're trying to get by with just 0.5 months of inventory—aka two weeks! Throughout the entire San Fernando Valley, we have less than 1,000 homes for sale.  In Granada Hills, our most recent snapshot showed just 16 properties for sale out of almost 14,000 single-family units. In Porter Ranch, it's not much better; we have 28 homes for sale right now, as opposed to the 40 we logged toward the middle of last year. Again, keep in mind that there are roughly 13,000 single-family units total in Porter Ranch. Now that you know the numbers we're working with, you have a better sense of what we mean when we say it's worse than we thought. “It's clear that the demand is massive; what we need right now is more homes to sell.” Many of our clients thought the market would change post-election and at the start of a new year, but that's hardly been the case. Instead of seeing a curb in demand, we've noted more buyers jumping into the market to take advantage of low interest rates. Bidding wars are erupting all over the place, and our listings are no exception. The home you can see behind me in the video garnered over 120 showings and 22 offers before heading into escrow for $100,000 above its original list price. It's clear that the demand is massive; what we need right now is more homes to sell.  Now, you may be thinking, “Scott, I'd love to sell my house and move up, but it seems like things are impossible on the buying side.” While there's no denying the difficulties of this market, the good news is that the strategies we're implementing for our buyers have seen success. We're helping buyers win out even with contingent offers.  If you want to sell your property and buy a better home in the San Fernando Valley, please reach out to us. The first step would be to take advantage of our free home valuation tool, then give us a call so we can go over some of the strategies we're using to get deals done in today's market. By learning about your specific buying or selling needs, we can craft a plan that helps you cut through the craziness and get some peace of mind.

Here are five great tips for first-time homebuyers in 2021. If you want to buy your first home in 2021, here are the top five things that you can do right now to prepare and make sure you're ready: 1. Check your credit score. Take steps to improve it if necessary. Your credit score and history play a huge role in your interest rate and whether or not you get approved for a mortgage loan. It's best to start monitoring your credit report by getting free copies and work on your score by paying off debts and keeping card balances low. 2. Research first-time homebuyer programs. Do some research to see if you qualify for any of these programs from the city or state. There are down payment assistance programs and even special loan programs for first-time buyers with a lower rate. “Interview several agents before deciding on one to hire.” 3. Shop around for a lender and get pre-approved. After you've taken care of your credit, shop around with various lenders to see their offers and get the best deal available. A pre-approval is great because it lets you know how much you can borrow, and it lets sellers know that you're serious. 4. Find a local and knowledgeable real estate agent. Even if your sale is months away, it's a good idea to start looking for a good agent now. They can provide you with crucial information about the buying process, the market, and real estate in general. Read online reviews, get recommendations from those you trust, and interview several agents before deciding on one. 5. Set up a budget. This will help you anticipate the costs of homeownership. Make your budget as close to what it would be as a homeowner and don't forget to budget all your monthly costs. It will give you a much better idea of what you can comfortably afford as a homeowner. If you have any other questions about buying a home or real estate in general, don't hesitate to reach out via phone or email. I look forward to hearing from you soon.

Here's how home values have been appreciating despite high unemployment. How is it that prices continue to shoot up while unemployment hovers around 7%? The Case-Shiller Index, which tracks homes, announced that September 2020 had the highest level of appreciation for a single month in the last 20 years—that means it was higher than the run-up of 2012 and 2013 and the run-up of 2005 and 2006! A lot of this has to do with the historically low interest rates fueling demand while inventory remains scarce.  Here's what that data means on a practical level: If you're considering selling in the next six months, we should be meeting now to strategize so we can maximize your home value with these incredibly favorable market conditions.  At 1:30 in the video above, you'll see a graph that displays the unemployment numbers for that record-setting September. Note that the highest figures are bunched up toward the right of the graph, representing service industries such as leisure, transportation, and restaurants that have all been devastated by the COVID-19 lockdowns. Workers in this sector of the economy are struggling to make ends meet on a month-to-month basis, and many are being laid off. “In September 2020, we witnessed the highest single-month appreciation in 20 years.” Toward the left side of the graph, though, you'll find the professional and business sector of our economy, as well as the financial and construction sectors; relatively speaking, COVID has had very little impact on the overall health of these sectors, as many workers therein were able to transition to working from home and spring losses were able to be recouped. As service industries suffer, workers in a multitude of other industries are enjoying job stability and being incentivized by historically low rates to make a move in the market sooner than later; their purchasing power has never been stronger. For serious sellers, listing your home now to capture this demand should be a no-brainer; depending on the specific neighborhood, we're witnessing 10% to even 20% appreciation in the San Fernando Valley. A top-dollar sale has never been more achievable. If you have further questions about this or any other real estate topic, just give me a call or send me an email. I'd love to learn more about your situation and find out how I can be of assistance. I look forward to hearing from you soon in this new year!

Here's a quick blooper reel of some of our funniest moments of the year. Did you know that a lot of our videos just simply don't go as planned? I know 2020 has been a challenging and difficult year for all of us, but we wanted to bring a smile to your face this holiday season. We hope you enjoy some of our best outtakes and bloopers from our videos this year. We also wish you and your family a happy and healthy holiday season. 

Here's why a winter home sale makes so much sense this year. Despite COVID, the winter months are a perfect time for you to sell your home. As we begin the holiday season, it makes even more sense for you to sell your home now rather than waiting until spring.  Throughout 2020, COVID has created a sense of urgency with buyers to purchase homes while interest rates are low. With inventory also low, home prices are up because supply can't keep up with demand.  The numbers over the last 35 to 40 days suggest that buyer demand remains very strong. ShowingTime's data demonstrates that showings are up 62% from December 2019 to December 2020. We've been seeing a similar trend here, particularly in the Thanksgiving numbers. Our market is still really strong for home sellers even during this time of year. “Home prices are up because supply can't keep up with demand.” At the time of writing, there is less than a one-month supply of homes in the San Fernando Valley, just 28 homes for sale in Porter Ranch, and 37 in Granada Hills. Even though we're in the holiday months, focused buyers want to get into a new place now and you can take advantage of that demand by listing.  Waiting until spring means waiting for more competition. When you take a look at what's transpiring right now, the activity suggests that we might not see a market like this in the future.  If you have any questions for me about the market or real estate in general, don't hesitate to reach out via phone or email. I look forward to hearing from you soon.

It's time to put three big home-buying myths under the microscope. If you're in the market to buy a home, you've more than likely received a barrage of buying advice from friends, family, news headlines, talking heads on the TV, and trending social media posts. However, much of that information is conflicting, which can leave you struggling to separate fact from fiction. What are the home buying tips you truly need to know? To help you gain some clarity, I'm sharing the three most common myths I find myself having to dispel on an almost daily basis when working with buyers:  1. Your down payment needs to be 20% or higher. Thankfully for first-time buyers, this simply isn't true. These days, there are a lot of loan programs that allow you to buy a home with as little as 3% to 5% down; we routinely see buyers in our market purchase with just 10% down. It's important that you speak with your lender to find out what programs you may qualify for. However, be aware that putting down less than 20% makes you a riskier borrower from the lender's standpoint, so the lender will require that private mortgage insurance be rolled into your loan.  2. Buying a fixer-upper is easy and not cost-effective. Too many people don't fully understand what they're getting themselves into when they buy a fixer-upper. Before you pull the trigger on a home in poor condition, it's critical that you have a contractor come out and give a professional estimate of what certain projects would actually cost you. I also recommend that you ask your agent to show you both remodeled homes and homes in terrible condition so that you're better able to see the difference in cost. Oftentimes, it may be wiser to spend more money upfront to buy a home that's turnkey perfect than end up spending that same amount of money later as you try to make a cave into a castle. “A home is one of the best financial assets you can own, so don't let a so-so credit score stop you.” 3. You have to have a credit score above 780 to qualify for a loan. In reality, you can get a decent loan with a credit score as low as 640. Of course, if you have a lower credit score, you'll be paying a higher interest rate. Nevertheless, there are solid options out there for you, with FHA financing being just one great example. A home is one of the best financial assets you can own, so don't let a so-so credit score stop you.  Hopefully you found this exercise in myth busting to be empowering. If you have questions on any of the myths I mentioned or want help in the buying or selling process, please feel free to reach out to me via phone or email. I'm always more than happy to help!

Here is what you need to know about the demand for homes in our market. To understand where all of the demand in our market is coming from, it's important to realize how drastically COVID-19 has changed buyer behavior; for many people, everything central in their lives now takes place at home (e.g., work and education), and this has spurred the need for more space. Whether it's in the form of a home gym, office space, or dedicated classroom, buyers are out in force looking for properties that can best accommodate their new at-home lifestyles.  Such coveted properties include those that have been newly remodeled, those with bigger backyards or pools, and even those with multi-use garage spaces. The desire for more space isn't the only thing prompting buyers to hop off the fence; low interest rates—a talking point since the beginning of the year—remain as good of a reason as any to buy in this market. Right now, rates are hovering around 3% and below, so you better believe there are buyers out there chomping at the bit to take advantage of increased purchasing power.  We're finding that a lot of our buyers have migrated from other areas in Southern California into the north side of the San Fernando Valley. While this trend existed pre-COVID, it was greatly exacerbated by the lockdowns. For many, there's no longer a need to live close to the office, as their jobs have either mandated or allowed remote work for an indefinite period. With the burden of a California commute lifted from their shoulders, buyers are more eager than ever to explore new areas of interest within the state.  Add on top of all this the fact that the entire San Fernando Valley is a lot more affordable than places like the West Side, Burbank, Glendale, Pasadena, or La Cañada. Buyers who got priced out of those areas are finding that their dollar goes a lot farther here, so they can finally give their families the elbow room they've been needing. “With the burden of a California commute lifted from their shoulders, buyers are more eager than ever to explore new areas of interest within the state.” Believe it or not, one of the hottest price points in the entire San Fernando Valley is $900,000 to $1.4 million. Buyers in that price point represent the working professionals whose jobs are more than secure; they're all looking to upgrade their living space right now, so the competition is fierce.  If you have questions about our evolving marketplace, or you feel it's time for your own home purchase or sale, reach out via phone or email. I'd be more than happy to discuss market trends further and see how they impact your specific needs.

Buyers: You have options if the appraisal comes in below the list price. So your appraised value came in below the purchase price. What do you do now? Today we're discussing this issue that's happening more and more in today's real estate market. If you're a buyer obtaining financing, your lender or bank is most likely going to require that an appraisal be done at the property. They'll send out a licensed appraiser to determine what the fair market value of the home is. This is because the bank or lender will only lend you the fair market value. However, when the appraised value comes in under the purchase price, that doesn't mean the deal is dead.  In the last 35 to 45 days, we've had three houses appraise way under the purchase price. One came in $85,000 under the list price! We were able to resolve all three of these deals. If this happens to you, there are a few options you should know about: 1. The buyer can pay the difference. If the seller doesn't want to come down much (or at all) on the purchase price, the buyer can offer more money to make up the difference between the appraised value and list price. This will be the best option for the seller. “When the appraised value comes in under the purchase price, that doesn't mean the deal is dead.” 2. Find middle ground. For example, if the difference between the purchase price and appraised value is $30,000, the seller can come down $15,000, and the buyer can pay $15,000, so you're meeting in the middle. It's in the best interest of the seller to find a solution that works for both parties because if you walk away from the deal, they'll probably have the same problem with the next buyer. This can also make the process easier and the seller can close quicker. 3. Cancel the contract. If no resolution can be reached, you as the buyer have the right to cancel the contract and get your deposit back. This is why it's necessary as a buyer to keep the appraisal contingency in the contract.  Another question we get from both buyers and sellers is, “If there's a difference between the appraised value and purchase price, can we fight it?” While yes, you can fight it, very rarely is the appraisal or management company willing to change the appraisal report, even if you have comparables. It also takes about two to four weeks to refute an appraisal report, so if time is of the essence, it may not make sense to do so.  If you have questions about this or any other real estate matter, give me a call or send an email today. I would love to help you.

                                                            What are the three mistakes that you need to avoid if you're buying a home in Porter Ranch? When it comes to buying a home in Porter Ranch in the San Fernando Valley, there are three key mistakes you need to avoid: 1. Failing to consider the commute time. Obviously, COVID has altered commute times here in Los Angeles, but now that things are starting to creep back toward normality, many people are back out on the roads, which increases transit times. When you're looking to buy a home, you need to factor in how long it will take you to get to and from work, as well as any factors that could increase or decrease that time. You can go on Google Maps and plot out your routes beforehand just to make sure the travel is feasible for you. “You need to be pre-approved before you go out to look at homes.” 2. Worrying about getting a great deal. We all want our clients to get a great deal, but being fixated on a great deal isn't the right approach. You need to focus on the fact that the home you're buying is where you're going to live and raise your kids for a long time. The neighborhood you're looking in is going to determine what type of lifestyle you'll be able to lead.  3. Putting the cart before the horse. By that, I mean we often see a lot of buyers who want to go out and look at properties before they've actually been pre-approved. If you fall in love with a $750,000 house but then find out you're only pre-approved for $600,000, you'll be very disappointed. We've also had clients who were looking at a $700,000 home when it turns out they were pre-approved for up to $900,000, meaning they could have been looking at a lot more options. If you have questions about buying a home or anything else to do with real estate, don't hesitate to reach out to us. We'd love to help you.

Zillow doesn't know these three things about home values in Porter Ranch. Like so many real estate portals on the internet, Zillow provides an estimate of a home's value called a Zestimate. However, there are many things that Zillow does not or cannot take into account when it comes to the value of your home: 1. Market conditions. Since it operates based on an algorithm, Zillow's Zestimate doesn't truly take into account what's going on in the marketplace. We're currently in a very strong seller's market, and what the closed escrows are actually closing for doesn't reflect what's happening in the market. Closed escrows reflect conditions anywhere from 45 to 70 days prior. Right now, you need to focus on active listings, pendings, and under-contracts, which are the numbers that will give you a better idea of what's happening. “It's so important to have a real estate professional by your side.” 2. Tax records. Zillow's algorithms are based on public information, which is often incorrect. In the tax records, your home may show up as a 3-bedroom, even if you have a 4-bedroom house. Easements and permanent additions also might not show up in the public record.  3. Renovations. Zillow doesn't know whether the roof you have on your home is on its last leg, if you've just installed a brand-new HVAC system, if you've remodeled your kitchen, or if you have an original home from 1955 where nothing has been changed except the garbage disposal. If you've done a lot of upgrades to your home, there's a good chance that Zillow isn't going to give you a very accurate estimate. This is why it's so important to have a real estate professional by your side. If you want to know the true value of your home or have any other real estate questions, feel free to reach out to us.

Here's how COVID-19 is impacting people's remodeling plans. Ever since COVID-19 forced people to shelter in place near the end of March, many homeowners who weren't looking to buy a new home decided to make changes to their current one. They want to make these changes for the same reasons buyers want to buy—they want more elbow room, more space for their kids to do their schooling at home, etc.  In that regard, COVID-19 has affected the remodeling process in a few different ways, one of which I witnessed personally when I recently took a trip to Home Depot on a Tuesday morning and saw almost 60 people in line waiting to check out.  We're also seeing a lot of disruption in the supply chains, especially when it comes to appliances. For example, since Samsung's refrigerators are made in South Korea, they're all on backorder. LG Electronics Inc., another company based in South Korea, was smart because they opened a plant in Tennessee for washers and dryers and have expanded during the pandemic to manufacture other appliances here in America. “Regardless of what your remodeling plans look like, you need to plan ahead, have a backup plan, and be patient.” Additionally, remodeling prices are rising substantially, and lumber is getting particularly expensive. The price for lumber has risen 25% since April, which is where they were at in 2018 when wildfires and hurricanes caused prices to spike. Basically, if you plan on building a covered patio, prepare to pay a lot more for it than you normally would. You might also have a hard time scheduling contractors for a job because they're so busy at the moment.  So regardless of what your remodeling plans look like, you need to plan ahead, have a backup plan, and be patient. A project that would otherwise take two or three weeks may take longer due to these disruptions.  As always, if you have questions about this or any real estate topic, don't hesitate to call or email me today. I'm here to help.

Here are several reasons why our strong market will continue through fall. Typically, spring is the best time to sell fast in the San Fernando Valley, and that has a lot to do with better weather, a larger pool of buyers, and open houses galore. Obviously, the outbreak of COVID-19 back in March changed everything; the real estate market got flipped upside down. We found that, in some senses, summer became the new spring busy season, as pent-up buyer demand got released into the market. So, what will fall look like this year?  First of all, we'd be remiss if we didn't talk about the cog that's driving our market right now: low interest rates. With rates fluctuating around 3% and under, buyers are out in full force. Some are even settling for homes that they're not completely in love with just because they want to lock in affordable homeownership. Rates are expected to stay low during fall, so this high buyer demand won't be going anywhere.  Second, our market's low inventory will continue to be a factor. When COVID first hit, many sellers took their homes off the market because they were worried—and rightfully so—about the risk of having strangers amble around inside. They also didn't know what would happen to the housing market. Though seller hesitancy remains, the irony is that the likelihood of a seller attracting multiple offers over list price is remarkably high right now. “With rates fluctuating around 3% and under, buyers are out in full force.” Since the resale market throughout the entire San Fernando Valley has about one to 1.2 months of inventory, a lot of buyers are starting to revisit the idea of purchasing a new construction home. Not only do these homes give buyers the exciting opportunity to design their house the way they'd like, but they also provide peace of mind—no prior occupants means no potential for hidden issues.  Additionally, we expect home prices to continue their steady ascent through the fall. Again, whenever homes in the market are scarce (fewer sellers) and desirable (more motivated buyers), prices will stay strong or go up even further. This also means that the speedy pace at which our market has been moving this summer will more likely continue through the fall; if your home is priced correctly, you'll probably get a lot of bites.   With the threat of a second wave looming and a general election coming up in November, there are still plenty of things that are subject to change. However, as far as the fundamentals of the housing market go, we're primed for a strong fall performance. If you have any real estate-related questions, call me anytime at 818-396-3311 or send an email. I'm glad to chat with you about your particular situation and see what makes sense for you!

Here are the benefits and drawbacks of selling your home off-market. If you're intrigued by the idea of selling your home as a pocket listing, there are a couple of advantages and disadvantages to this type of sale you should know before proceeding.  First, let's define “pocket listing.” This is a listing in which the agent doesn't market the home on the MLS. It's only listed to other agents and the listing agent's database. Not being on the MLS means the home isn't syndicated on sites like Zillow, Trulia, Realtor.com, etc. Now let's go over the two main advantages of selling off-market: 1. You don't have to deal with as many showings. During this COVID-19 era, inventory is so low that you could easily have 40 to 100 showings within your home's first few days on the market. Just thinking about that many buyers walking through their home is overwhelming to a lot of sellers. We find that with off-market properties, there aren't as many buyers walking through your home, but they tend to be better qualified and more motivated. This leads me to my next point… 2. Buyers are more motivated. There's a bidding war for almost every property on the market right now, and you can use that as a bargaining chip when negotiating with buyers. At the end of the day, no buyer wants to be in a multiple-offer situation, so if they don't have to compete for your property, that will make them more motivated to pay top dollar for it. “During this COVID-19 era, inventory is so low that you could easily have 40 to 100 showings.” Here are the two main disadvantages of selling off-market:  1. You may miss out. If you don't put your home on the market, you'll never know what you may have been able to get price-wise. This is why we advise all of our off-market sellers to ask for top dollar. 2. You won't get as many showings. As I said, you'll attract higher-quality buyers to walk through your home, but having fewer showings can also be a disadvantage.  What kind of sellers list their homes off-market? To give you an idea, I'll tell you about a couple of clients of mine who recently went the pocket listing route. The first had two kids under the age of five and animals living in their house, so it wasn't feasible for them to host a lot of showings. Having a buyer willing to pay top dollar for their home without needing to keep it in showing condition all the time reduced their stress tremendously.  Another client was moving all the way to the East Coast, so with everything they had to take care of to prepare for a cross-country move, the last thing they wanted was to deal with so many showings in a short time.  At the end of the day, it all boils down to what you're comfortable with as a seller. If you'd like a more detailed strategy of how we'd be able to sell your home off-market or want to be added to our VIP list of buyers who are privy to our upcoming off-market listings, call or email me today.  As always, if you have any other real estate equations, feel free to reach out to me as well. I'm here to help.

Here's a breakdown of exactly what's happening in our current market. The media is typically four to five months behind what is currently happening in the market. So today I'm sharing the real indicators so you're properly informed.  The first indicator of how a market is doing is how many homes are coming onto the market. That number has decreased by 19%, and there are a few reasons why. There are currently many sellers who don't want people walking through their houses due to the health crisis, so they don't want to sell right now. Most of the current homes for sale are former rental properties or owned by people that have to move for their job, and we're not seeing the number of new listings we'd usually see this time of year. This low inventory is also fueling the price surge we're seeing.  The second indicator is the number of houses going into escrow or pending. That number has increased by 26%. Most properties are selling fairly quickly if they're priced correctly. The average time spent on the market in the San Fernando Valley right now is just under 30 days, in Granada Hills it's just over 25 days, and in the 91326 ZIP code it's 24.4 days. “The media is typically four to five months behind what is currently happening in the market.” When you throw the historically low interest rates on top of this, that's driving the number of escrows. Interest rates are currently under 3%. For example, if you bought a home for $750,000 a couple of years ago, today the same house may be worth $850,000, but with these interest rates, it's cheaper to buy the home now (including property taxes and everything else). That's why there are bidding wars for correctly priced houses across the board.  If you're currently looking to buy, it's a bit difficult; you're going to have to be more patient because there are many showings and so much pent-up demand. We recently showed one of our clients a listing that had 65 showings scheduled in just four days. We showed another property that had a line out the door because a showing was scheduled every 15 minutes; that home ended up getting 20 offers. Our local market is going nuts right now; buyers need to be aggressive.  Remember that though prices are currently going up, you're buying in an upswing. It's always better to buy in an upswing than a downswing. I predict there will be a great opportunity of double-digit appreciation by the end of the year because of all this.  If you're considering selling your house, you're in an excellent spot. Sellers control the market, and buyers are competing for your property. You can get top dollar and often over the list price right now. Inventory is down 50% from this time last year, and we only have 1.2 months' of supply of inventory in the entire San Fernando Valley. As an example, 91326 has nearly 13,000 single-family units, and there are currently only 51 for sale. Generally, we have about 90 to 100. That's making a huge difference.  If you have any more questions or want further information about buying or selling, give me a call or send an email. I would love to help you.

There are three things you need to consider if you're planning to sell this year. If you're planning to sell your home in 2020, keep these three things in mind: you'll need to prepare your home for the market, be flexible with your showings, and make sure you have at least one full weekend of exposure on the market. Here's what I mean: 1. Prepping your home for sale. You can't just throw your home on the market; by spending a little time, energy, and effort in making sure your home looks it's best, you'll almost certainly get more money on the back end. We refer our clients to an interior designer who helps them declutter, depersonalize, reconfigure furniture, and ultimately optimize their space for photos and videos. If you have any small projects or loose ends you need to tie up, do those before you put your home on the market; buyers sometimes have a way of making mountains out of molehills, so it'll be easier to preempt that by getting such projects done earlier. 2. Be flexible with showings. The easier it is for buyers to view your home, the easier it is for you to sell it. In a perfect world, buyers would give you ample notice before scheduling a showing, but it often doesn't happen that way in reality. Many buyers can only give a few hour's notice due to family obligations or work. “By spending a little time, energy, and effort in making sure your home looks it's best, you'll almost certainly get more money on the back end.” 3. Have at least one full weekend of exposure. We recommend that our sellers list their homes on Thursday, so they get the whole weekend to allow people to see it and schedule showings. Then, on Monday or Tuesday, we can start presenting offers. We'll often suggest that our sellers find somewhere to go over the weekend so that we can arrange as many showings as we possibly can. If you're thinking about making a move and you want to get top dollar for your home, don't hesitate to reach out to me. We're offering free home market evaluations so that you understand what your home could sell for in today's marketplace.

Here are my top three tips to get your offer accepted in a seller's market. As we've mentioned in our last several videos, we're currently in an extreme, red-hot seller's market. There's a lot of competition amongst buyers because our inventory is very low. If you're in the market to buy a home, what can you do to get your offer more attention and stand out from your competition? I have three tips to help you: 1. Follow the instructions on the MLS. This seems simple enough, but I can't tell you how many times agents fail to follow those instructions. When your buyer's agent doesn't follow the instructions, your offer's appeal will drop because the listing agent may not feel comfortable working with them for a long period given that they couldn't follow those instructions. Have a conversation with your agent, and if they're not good at listening to your needs, it might be time to reevaluate your decision to work with them. “There's currently a lot of competition amongst buyers because our inventory is very low.” 2. Find out the seller's needs. Many buyers write offers with short close-of-escrow periods, or offer them cash because they think that's what's attractive to the seller. Sometimes that might be the case, but it could be that the seller needs a 60-day escrow or a 30-day rentback. Be sure to find out what it is the seller is looking for in an offer rather than just assuming what they want. 3. Write a letter to the seller. Be sure to be detailed—let them know who you are and why their house is attractive to you. Now, if you really want to stand out, send the seller a video. We help our clients film seller videos with them standing in front of the property they're looking to buy. By doing one of these things, the seller may begin to look at you as a person with a family instead of just one of their prospective buyers.  If you have any questions or would like more tips on boosting your offer in an extreme seller's market, don't hesitate to reach out to us. We'd love to hear from you.

What do the latest numbers say about our market? Last May, there were 361 fewer closed escrows and 238 fewer listings than what we saw in May 2019. Additionally, there were 1,041 total properties for sale in the San Fernando Valley—a decrease of over 20% compared to May 2019.  What we're seeing now is the same thing I've talked about in previous videos: Sales are rising. From April to May, sales increased 70% across Southern California and 67% in the San Fernando Valley. Here in the North Valley, the 91326 ZIP code has 55 pending homes, Granada Hills has 61, and Chatsworth has 53. If a home is priced correctly, it should sell quickly right now.  If you're a seller, this is obviously great news. The average days on market for homes in the North Valley is 24 days, while homes in the entire San Fernando Valley average just 36 days. If you list now, you can take advantage of the fact that many other would-be sellers have decided to sit on the sidelines at this time. In other words, you'll face less competition. In the 91326 ZIP code, there are usually between 80 and 90 homes for sale this time of year, but right now there are just over 60 available listings. “As for the rest of 2020, we don't expect the market to change much or start trending downward.” If you're thinking of purchasing a home, there is an influx of buyers flooding the market for a variety of reasons, and I recommend that you get off of the fence as well. Interest rates, for one thing, are historically low—a lot of our buyers are locking in rates as low as 3% (and some even lower). Also, since more and more people are working from home and no longer have to worry about a work commute, more buyers are moving to the suburbs here in the North Valley. This has increased competition and caused a spike in multiple-offer situations. Mortgage applications to purchase a home rose 4% last week from the previous week and were a remarkable 21% higher than a year ago, according to the Mortgage Bankers Association. As for the rest of 2020, we don't expect the market to change much or start trending downward, especially since interest rates are expected to stay the same.  As always, if you have any real estate questions or are thinking of buying or selling a home soon, don't hesitate to reach out to me. I'm happy to help.

The decision to get back in the real estate market is a tough one for some. Does it make sense to buy or sell in this market during this crisis? It all comes down to what you feel most comfortable with after weighing all the pros and cons. If you wait on the sidelines and decide that you do not want to buy or sell right now, you have the advantage of being able to observe the market in the coming months to wait and see what happens. If you're a seller who's waiting, realize that there are a lot of other sellers in the same boat who are waiting just like you.  If you do choose to list now, you'll have much less competition. In the 91326 ZIP code alone, there are only 61 properties for sale out of almost 13,000 single-family units. Inventory across the San Fernando Valley is really tight. “It comes down to what you're comfortable with after weighing the pros and cons.” If you're a homebuyer right now, be ready to compete against multiple offers. Low interest rates are keeping demand very high. We recently had a buyer approved at a rate under 3% for a purchase over $900,000. The competition will only increase from here on out as more buyers feel comfortable getting out there. At the end of the day, it comes down to what you're comfortable with. There is no right or wrong answer. However, right now sellers are getting top dollar, and buyers are having decreased competition compared to what is usually going on at this time of year. If you have questions for me about what's going on or anything else related to real estate, don't hesitate to reach out via phone or email. I look forward to hearing from you.

Here's everything you need to know about buying a property in a spring market affected by COVID-19. Since real estate is considered an essential business here in Los Angeles County, there are still plenty of ways to view a property. We make sure we create 3D virtual tours for our listings so that buyers online can better understand features and layouts before moving forward with an in-person viewing, which requires extra safety precautions.  Gone are the days of bringing your entire family into a home showing—only the decision-makers responsible for the purchase will be allowed to tour a property. There won't be open houses to attend, but private showings (with the proper protections) are still common. “Buyers can enjoy significantly reduced competition on the market.” Ultimately, homes are still selling, and rather quickly at that. We just had a listing in Sylmar receive seven offers and sell for $30,000 above list price; it only took a couple of days to get it into escrow. With rates dropping, buyers are taking advantage of the situation. Yes, plenty has changed, but supply and demand haven't. Since there's a 65% to 70% reduction in our showings, buyers can enjoy significantly reduced competition on the market.  If you have any questions about real estate or you're interested in buying or selling but don't know where to start, reach out by phone or email. I look forward to hearing from you.

If your home sale or purchase has fallen out of escrow due to the coronavirus pandemic, there are plenty of ways to still get a deal done. If a home falls out of escrow due to the coronavirus pandemic, what happens next? At the end of March, we had six homes fall out of escrow within five days. One buyer lost their job, another couldn't get financing, and others got cold feet. I can now tell you that of those listings that fell out of escrow, four out of six are back in escrow. One of the homes has actually sold for a higher price than it previously did. To learn how this happened and what you can do if your home has suffered the same fate, watch this short video.

We're always looking for ways to lend a helping hand. If you've also been aching to help those in need, here are some simple ways to get started. Whether it be through financial donations or volunteering your time, there are so many ways to give back to the community right now.  The first step is to identify what cause is dearest to your heart. Look at your neighborhood; what needs are there to be filled? Also, truly assess your talents and abilities. What is the best way for you to help in these troubling times? We each have different strengths to offer our neighbors and local organizations. Do what you can, and do what makes the most sense for you.  Is it a large one-time donation of canned goods? Is it a regular donation of money to a charity? Is it committing your time to help one person in need? That's the beauty of doing good—there are endless ways for you to lift others up, it just takes some planning and a little gusto to get started.  We wanted to give you a small sampling of the countless opportunities there are to help. Below is a list of local San Fernando Valley organizations working to help victims of the virus as well as those facing turmoil amid our economic halt. From helping out healthcare workers to supporting local restaurants that are suffering, this list runs the gamut; everyone is sure to find a cause that resonates with them.  I hope you're able to give back to those in need. If you find yourself in the category of those who need our community's support, please reach out to us or any of the amazing organizations listed. We want to do everything we can to lend a hand.  Here are some great ways to help out our community right now:  American Red Cross blood donations: Blood and platelet donations needed. Appointments: 7 a.m. to 3 p.m. April 12; 11:30 a.m. to 7:30 p.m. April 13 through 15; 10 a.m. to 6 p.m. April 16; 7:30 a.m. to 3:30 p.m. April 17; 7 a.m. to 3 p.m. April 18 through 19. Woodland Hills Blood Donation Center, 6338 Variel Ave. See website for guidelines on how to give blood and other locations. Make an appointment by phone 1-800-733-2767, or online at redcrossblood.org  FISH of West Valley: Call for current food pantry needs. 20440 Lassen St., Chatsworth. 818-882-3474.  Freedom Church: The Chatsworth church is accepting monetary donations for their pop-up food pantry. www.freedom.church/pop-up-pantry; www.freedom.church/give  Go Fund Me campaigns: www.gofundme.com/f/feeders www.gofundme.com/f/feedahero www.gofundme.com/f/help-us-send-dinner-to-healthcare-heroes-in-la www.gofundme.com/f/feed-the-frontliners-project www.gofundme.com/f/scrub-hub-for-heroes www.gofundme.com/f/mask-response-at-suay www.gofundme.com/f/support-ems-and-healthcare-workers www.gofundme.com/f/make-masks-la www.gofundme.com/f/get-behind-the-mask www.gofundme.com/f/funds-to-make-masks www.gofundme.com/f/protective-equipment-for-la-hospitals www.gofundme.com/f/6cjpr4-send-sandwiches-to-hospital-workers?utm_source=customer&utm_medium=copy_link-tip&utm_campaign=p_cp+share-sheet Hope of the Valley Rescue Mission: Seeking donations. 818-392-0020. www.hopeofthevalley.org/covid-19-current-updates  LA COVID Volunteers: College undergraduates and graduate school students seeking college-age students and non-students to volunteer to help and support health care workers. Check websites for details. www.lacovidvolunteers.org; www.facebook.com/lacovidvolunteers  LA Students Most in Need: A Los Angeles Unified School District charity to provide meals and supplies for students and family members. lastudentsmostinneed.org  Lutheran Social Services food pantry: Donations needed include non-perishable food, pop-top canned food and juices, hygiene items, cleaning and paper supplies. Iglesias San Pablo Church, 7400 Tujunga Ave., North Hollywood. 818-901-9480.  North Valley Caring Services: Call or email the North Hills-based nonprofit for current needs. 818-891-0481. Email Isela Campos: icampos@nvcsinc.org (www.nvcsinc.org)  Our House Grief Support Center: www.ourhouse-grief.org  Pop-Up Drive-Thru Food Pantry food donations: Donations accepted, 10 a.m. to 2 p.m. Monday through Tuesday. The drive-thru food pantry is by appointment only on Thursday through Friday for as long as the coronavirus emergency lasts. Northridge Fashion Center, 9301 Tampa Ave. (near California Pizza Kitchen). To support the pantry or to make an appointment, go to sfvrescuemission.org/pantry  March of Dimes' Step Up!: A virtual fundraiser for the organization that offers educational programs for mothers and funds research for healthier babies. Participants download the Charity Miles app that tracks their steps on smartphones or fitness watches. Participants then collect donations based on how many steps they've taken through May 15 when the campaign ends. More details and to sign at marchforbabies.org  Mayor's Fund for Los Angeles – Angeleno Fund: Provides financial assistance to individuals and families facing extreme economic hardship; mayorsfundla.org/angeleno  Mayor's Fund for Los Angeles – Emergency COVID-19 Crisis Fund: Provides assistance for small businesses and families, help for the homeless, relief support for healthcare workers and critical healthcare equipment; www.mayorsfundla.org/covid19  MEND (Meet Each Need with Dignity) food bank: Call about donations or for current food pantry needs. 10641 San Fernando Road, Pacoima. 818-897-2443. www.mendpoverty.org  North Hollywood Interfaith Food Pantry: The pantry is supported by a coalition of local religious congregations. Information about food and money donations at First Christian Church of North Hollywood (Disciples of Christ), 818-763-8218. www.nhifp.org  ONEgeneration: Donations for homebound meal delivery for seniors. Also, to inquire about becoming a volunteer send an email: volunteer@onegeneration.org. Call for more information, 818-705-2345. www.onegeneration.org  The Salvation Army: Needs monetary and in-kind donations. Supplies needed include baby items (diapers and formula), non-perishable food, hygiene items, cleaning and paper supplies. Find a location for in-kind donations by phone or website. 818-781-5739. sanfernandovalley.salvationarmy.org Also, 800-725-2769. salvationarmy-socal.org  San Fernando Valley Rescue Mission: Donations needed include food, hand sanitizer, hygiene items, and sanitation wipes. Check the website for the list of current needs. Monetary donations taken through the website. Drop off items, 9 a.m. to 5 p.m. Monday- through Friday. 8756 Canby Ave., Northridge (use intercom button for assistance). 818-785-4476. sfvrescuemission.org/how-the-mission-will-continue-to-serve-in-light-of-coronavirus/  Santa Clarita Food Pantry: Call or check website for current needs. 24133 Railroad Ave., Newhall. 661-255-9078. www.scvfoodpantry.org  Slice and Slice Out Hunger: The online and mobile ordering platform for local pizzerias and the non-profit, respectively, are accepting donations to be used to fund pizza orders where healthcare workers need it the most. The platform identifies facilities through news reports and by suggestion (see link), contacts the hospital or other health care centers for clearance, and then partners with a local pizzeria to deliver the pizzas. Check the website for more details and to donate. sliceouthunger.org/pandemicpizza  SOVA food pantry: Jewish Family Services of Los Angeles SOVA Community Food and Resource Program. Call or check the website for current needs and to volunteer. 16439 Vanowen St., Van Nuys. 818-988-7682. www.jfsla.org/sova  United Way of Greater Los Angeles' Pandemic Relief Fund: Donations help Los Angeles County residents who are unsheltered and low-income people experiencing economic hardship due to coronavirus who also may be at imminent risk of becoming homeless. Check the website for specific details on how the fund will be used. pandemicrelief.unitedwayla.org/  Valley Community Healthcare: Donations requested for COVID-19 Community Support Fund. valleycommunityhealthcare.org  West Valley Food Pantry: A coalition of churches and synagogues runs the pantry. Call or check the website to make a donation or for current needs, including volunteering. The pantry is located on the grounds of Prince of Peace Episcopal Church, 5700 Rudnick Ave., Woodland Hills. 818-346-5554. www.westvalleyfoodpantry.org

Here's what the real estate process looks like during the coronavirus pandemic. Hopefully, you're all staying safe and healthy during these tumultuous times. Everything has been changing at a breakneck pace these past few weeks, and the same is true for real estate. All in all, real estate transactions will continue, though we've had to take certain measures to keep our agents and clients safe, like virtual communication. We already had many of these tools in place before the pandemic, which allowed us to adapt to the changing times more easily. To learn more about how we're able to keep your transactions going and what precautions you'll need to take if you plan to buy or sell, watch the short video above.

Today's message is geared towards giving back to the local community, businesses that might need your support during this time. In light of the chaos and uncertainty that has come with the coronavirus, we at the Scott Himmelstein Group are doing what we can to give back to others in the community who really need our help. Do you know of any local businesses in the San Fernando Valley that are still open right now and could use a boost? Leave a link to their website or their contact information on our Facebook page, or just tag them in a post on our page. These businesses are integral to our community, and they need our help now more than ever. Together, we can make it through these challenging times.

Coronavirus and the drop in the stock market have affected real estate and mortgage rates. Here's how. How have the recent Fed rate cut and stock market drop affected the real estate market and interest rates? Due to coronavirus and other factors around the world, the stock market has taken a fairly significant dive in the last month or so. For these reasons, interest rates have dropped a lot. They were already at historic lows in December and January, but now they've dropped further.  For example, for a 30-year conventional fixed loan, you can get a rate in the low threes. This is astonishing and historic. We're seeing many people take advantage of the refinancing opportunities to reduce their rate. If you have an interest rate with a four in front of it, you should consider refinancing your home.  If you're considering buying a house and were thinking of waiting until the spring or summer, it's a great idea to get your pre-approval now and take advantage of the low interest rates. When interest rates are down, your buying power increases. If you're looking to sell a home, these low interest rates benefit you by driving more buyers into the market. That being said, inventory is still quite tight due to high demand. “If you have an interest rate with a four in front of it, you should consider refinancing your home.” Whether you're going to refinance or purchase, make sure you know who your lender is and that they can serve you in time. Here's what I mean: A lot of large banks, like Wells Fargo, for example, are telling people it will take four months to close a loan and about a month to get an approval because they're so behind due to the uptick in the market. So make sure whoever you choose can perform on time—ask that question up front.  Reminder if you're a home seller: Check out our free home value report. Reminder if you're a homebuyer: We have a free MLS search tool for properties all over Southern California. If you have any lending or real estate questions, give me a call or send an email today. I would love to help you.

Here's my review of California's favorite Gus's BBQ and their amazing menu staples. The recently opened Porter Ranch location of Gus's BBQ is a prime cut above the competition. I had the pleasure of chowing down on an entree of brisket, pulled pork, and fried chicken, complemented by fresh greens and creamy mac n' cheese. It was a must-have dining experience that I recommend to everyone! Here are some helpful things that potential patrons should know before visiting Gus's:  Happy hour is Monday through Friday, 3 p.m. to 6 p.m.  Monday's weekly special: an oversized, smoked, bone-in beef rib with two sides, only $27.95  Tuesday's weekly special: specialty burger with fries and an old-fashioned  Since I have a soon-to-be 4-year-old, I know the parental pain of ordering a full meal for your child only to have them not eat it. Thankfully, at Gus's, they have a plethora of options for kiddos. One of my favorites is the grilled cheese plus a side of fruit and french fries for just $5.95! You can't even get that much at a fast-food restaurant for that price.  There are also many great beers on tap, and their wine and spirits selection is top-notch. “Happy hour is Monday through Friday, 3 p.m. to 6 p.m.” One of the most impressive things about Gus's BBQ is that all of their meats are very juicy. The fried chicken just melts in your mouth, and the blend of seasonings on it strikes a rare balance of flavor.  No knife is necessary to cut through the tender brisket. There's also no such thing as a thinly sliced piece of brisket at this restaurant. On the side, the greens were cooked perfectly and seasoned well, while the mac n' cheese was not too heavy.  Here's a little bit about how Gus's approaches the art of Southern barbecue—and boy, will it leave your mouth watering:  “All of our meats are seasoned overnight and smoked low and slow over whole pecan logs for up to 16 hours. Our rubs and sauces are made from scratch daily, and when it comes to inspiration, we look toward the simplicity of a true Southern kitchen and let the food speak for itself.” Make sure you stop by Gus's BBQ in the vineyards and Porter Ranch. When you're not busy savoring some Southern-style delights and want answers to your real estate questions, feel free to reach out to me by phone or email. I'm always happy to help.

I'm explaining our new Loyalty Concierge Program and how it can help sellers get top dollar for their home. If you don't have enough money for repairs, renovations, or updates before your home goes on the market, should you reduce the price of your house? I have great news: There's a way to be fronted the cost of those home improvement services before your house hits the market without any upfront burden to you. It's our new Loyalty Concierge Program. This is an opportunity to get top dollar for your property. This program is a hassle-free way for our sellers to get the work they need done and attract the right buyers. This program will help with staging, redoing a bathroom or kitchen, fixing the roof, plumbing repairs, and anything else that's needed. Resolve any issues and make the home look ideal before listing. “This is an opportunity to get top dollar for your property.” The alternative would be to discount the price of the house to reflect the repairs that the next owners will have to do. Often buyers only have enough money for a down payment and not for repairs, so they won't look at your property. They'll pay more through payments over time on their mortgage than for repairs that need to be done right away. Making the needed changes to your home will set you apart from the competition who may not have made the necessary repairs.  Also, here's a reminder to sellers to check out our free home value report, and for buyers, we have a free MLS search tool to explore properties all over Southern California. If you have questions about our Loyalty Concierge Program or anything else concerning real estate, give me a call or send me an email. I look forward to hearing from you.

Did you know there's an easily accessible winter wonderland just over an hour away from the San Fernando Valley? Check it out! Especially if you have kids, Pine Mountain Club is a quick place to get to if you and your family are looking for a place to enjoy winter activities like hiking, skiing, camping, equestrianism, and more. I do like Big Bear and all the amenities that it has to offer, but traveling a winding road up the mountain can be laborious, particularly with kids in tow. If you're thinking about going to Mammoth, that's an even longer drive; Lake Tahoe, at this time of year, is probably only accessible if you fly. The convenient location and distance of Pine Mountain Club make it a great alternative to the other winter destinations that people are familiar with. Right now, there are only about 2,400 residents at Pine Mountain Club; many people have second homes up here to have a place to enjoy both the winter and summer months. If you're interested in learning more about all the great amenities you'll find at Pine Mountain Club, visit their website. If you're interested in renting a cabin there, try Airbnb. As always, if you have any questions, don't hesitate to reach out to us. We'd love to speak with you.

See the latest numbers and data for our San Fernando Valley real estate market. Here is our real estate market update for December 2019. In the last sixty days or so in the San Fernando Valley, we have hit a record high median sales price of $755,000. That's up 11% from a year ago. Since June, our inventory has continued to trend downward. We had a 1.7-month supply of homes on the market in October.  Here we are in December, and it's a great time to sell because there are still many buyers out there desiring the exceptionally low interest rates. Interest rates are hovering around 3.5% to 3.8%. This is certainly fueling the real estate market. Despite the inventory being low right now, around 1,100 in San Fernando Valley, there are a ton of buyers. In October we had 657 pending escrows, which is up 4% from October 2018.  The real estate market is looking very strong heading into 2020. Many buyers are resistant to higher prices, but the motivated buyers are the ones who understand that the opportunity to buy is limited. So price, as always, is extremely critical. “It's a great time to sell because there are still many buyers out there desiring the exceptionally low interest rates.” A reminder if you're a home seller, check out our free home value report on our website. If you're interested in purchasing a home, we have our free MLS search tool for properties all over Southern California, and you can find that on our website as well. If you have any questions about the real estate market or real estate, in general give me a call or send me an email. I would love to help you! 

The winter months are a great time to sell your home, and there are three reasons why. If you're thinking of selling your home, the upcoming winter months are a great time to do so, and there are three reasons why: 1. Low inventory. In the entire San Fernando Valley, we currently have about 1.75 months of available inventory. In the 91326 ZIP code, there are 59 homes for sale, which is a 38% drop compared to the summer months. Low inventory equals less competition from other sellers. 2. Buyers tend to be more serious during the winter months. If they're out and about looking at homes during the cold weather and holiday season, they typically have a good reason to be doing so. “Homes listed in December, January, and February tend to sell quickly and with multiple offers.” 3. The internet doesn't have any seasons. Roughly 98% of all buyers start their home search online, and people have more time off during the holiday season to search for homes.  The bottom line is, homes listed in December, January, and February tend to sell quickly and with multiple offers.  If you're ready to get the home selling process started or you have any other real estate questions for me, don't hesitate to give me a call or send me an email. I'd love to help you.

With the recent wildfires, many people are worried about the state of our real estate market. I'm here to put your fears to rest. With the recent wildfires in San Fernando Valley and Simi Valley, many people have been asking us whether home prices will be affected by them. The answer is an emphatic no. There are a few reasons for that.  One of the main reasons is that, for better or worse, living in California, we've become acclimated to the possibility of wildfires. Unlike the major Paradise Fire up in northern California, which wiped out the entire town, we've lost a few homes here and there, but the first responders have done an amazing job of preserving structures and buildings. Most homes have been saved. “With the recent wildfires, many people are worried about the state of our real estate market. I'm here to put your fears to rest.” What we're seeing right now is that the prices on our listings have not been affected at all. It hasn't affected escrows being able to close and we're still selling homes swiftly here in the North Valley. People have been weighing wildfire risks against the great schools and excellent neighborhoods and finding that this is still a wonderful place to live.  If you want to help victims of the recent wildfires, follow this link. It's a tremendous way to help the community during this tough time, especially as we approach the holidays.  If you have any real estate questions, we're always glad to help. Please reach out to us by phone or email. We look forward to speaking with you. List of links where you can help victims: Casas Rodriguez Relief Fund   California Community Foundation    Global Giving    United Way LA     LACFDF     Direct Relief       Animal Care Foundation  

Looking for the best place to take your trick or treaters this coming Halloween? Allow me to share my top pick. Fall has arrived and Halloween is just around the corner. As such, many of you are probably on the hunt for some great local “haunts” to take your little ones trick or treating. Well, here in the North Valley, you'll find fewer better places to enjoy Halloween night than the neighborhood between San Fernando Mission and Tribune right here in Porter Ranch. The decorations are truly a sight to behold, and the homeowners there are eager to make every Halloween an experience to remember.  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 are in the market to buy a home, you probably already realize how large of a role school districts play in your search. As you'll see, it's quite important to most buyers. Did you know that, according to a recent survey, 78% of buyers said that schools were very important to their home search? It's true, and today we're going to talk about how to search for homes based on their school district. A majority of our buyers decide where they want to purchase a home based on schools, and the stats back that up. It makes a lot of sense because we all know how important location is to homebuyers, especially those with children. “I can connect you with people who actually live in the areas you're looking at.” In the study I mentioned earlier, 17% of buyers were also willing to give up having an updated kitchen, a garage, or an extra bedroom just to be in the right school district. Here in Los Angeles and throughout the state, there are a few great resources you can use to compare and contrast school districts for yourself. A couple of them are greatschools.org and niche.com. They both operate very similarly to Yelp! They have reviews, user scores, and a ton of data. I highly recommend checking these sites out if you're in the market to buy a home in a certain school or neighborhood.  I also recommend reaching out to me. I can connect you with people who actually live in the areas that you're interested in so you can learn more about what the area and the schools are actually like from a primary source. If you have any questions for me in the meantime, don't hesitate to give me a call or send me an email. I look forward to hearing from you soon.

As we recap our September market, inventory is quite low, as are interest rates. Where's our market going as we finish out September? As always, we look to the leading indicators to answer this question.  First, the number of new listings on the market has dropped 14% since June. Specifically, there were 86 properties for sale at the end of June in the 91326 ZIP code, but there's only 50 available now. During that same time, our months of supply in the San Fernando Valley dropped from 2.2 months to just 1.8. In other words, inventory is quite low. On the flip side, pending sales have increased 14%. One of the primary reasons we're in this situation is low interest rates. At the beginning of the year, rates were close to 5%, and though they've gone up this month, they're still under 4%.  If you're a buyer, this means now's a great time to buy. We still expect prices to increase incrementally, but not in the same way we've seen previously. “The number of new listings on the market has dropped 14% since June.” What about sellers? If you have a property in the higher price ranges, especially $900,000 and above, it's imperative that you price it correctly—especially if the home needs to be remodeled. After all, a lot of buyers for these homes can only afford the down payment.  On a final note, the media like to report that the median sale price has increased 2.8% year over year, but the problem with that figure is it's based on sales from May, June, and July. This means the sales taking place now won't be reported until November, December, and even January of 2020.  If you have any more questions about our market or you're thinking of buying or selling a home soon, don't hesitate to reach out to me. I'd love to help you.

How should you respond if you receive a lowball offer on your home? Today I'll share my advice. You're a home seller and you just received a lowball offer for your home—what do you do? First, I always advise my clients to respond to all the offers they receive, even if they're lower than you wanted or anticipated. That's a home-selling must for a multitude of reasons. That said, here are a few tips for responding to low offers: 1. Counter their offer, but stay close to your list price. This will show the buyer that you're a strong negotiator and is a way to see how high they're willing to go (i.e., how serious they are about purchasing your home). “Responding to all offers you receive is a home-selling must.” 2. Politely decline their offer. We recently had to decline an offer for a seller's home that was more than $100,000 short of the list price. We simply told them that the seller wasn't comfortable responding to that offer, and 24 hours later, they gave us an offer at the full list price. Being polite and helpful to the other party's agent positioned us to get the house sold. Being standoffish or rude, however, might have led to a less favorable result. Obviously, no one wants to receive a lowball offer on their house. However, if you price your home correctly according to the market in the first place, the frequency of those offers can be mitigated. You should, ultimately, do your best to keep your emotions in check—it is a business decision, after all.  If you have any other questions about this or other real estate topics, don't hesitate to reach out to me. I'd love to hear from you.

Condos and townhomes will be much more affordable in California come October 15. Here's why. Are you looking to buy a condo or townhouse with a really low down payment? If so, I've got great news for you today. Condo rules have been revised by the FHA and they're really going to be able to help buyers with low down payments purchase condos and townhomes.  Under the revised guidelines, which take effect on October 15, an individual condo building of 10 units or more will now be eligible for a spot approval if no more than 10% of the units in the complex have FHA financing.  Currently, the entire building has to go through a condo certification. A lot of times, the HOA doesn't want to put up the money to reissue that certification for the FHA. This change will make things much more streamlined when it comes to resolving this problem. For buildings that have fewer than 10 units, no more than two units can currently have FHA financing. The FHA is also extending the recertification deadline approved for condo projects for two to three years. These are all things that are going to be able to assist buyers who are looking for a down payment of 3.5% or less. Right now, most buyers will have to come in with conventional financing and need a FICO score of 720 and a down payment of 5%. “This change will make things much more streamlined.” I'm excited to see these announcements take effect this fall, especially because the average price for a condo or townhome is $141,000 less than the average for single-family homes.  If you have any questions for me about buying a townhome or condo, don't hesitate to give me a call or send me an email. I look forward to hearing from you.

How many homes will you have to look through before you find “the one?” Stay tuned! On average, how many homes will you look at before you find “the one?” Today I'll discuss my answer to this question. The obvious answer is that it depends, but I can actually give you a lot more guidance and insight into this topic than that. In general, you're probably going to look at fewer homes in person than you think. With all the information available out there, 98% of buyers begin hunting for homes online, meaning you'll see several homes before you and I will go to visit your top choices in person. For every home you set foot inside, you'll probably weed out 30 to 50 online listings that didn't make the cut. Over the years, we've found that we tend to look at about seven homes in person with our clients before they actually place an offer. Mind you, being above or below that number doesn't mean you're bad or good—there are always extenuating circumstances. “You're probably going to look at fewer homes in person than you think” If you use the right criteria to search for homes (number of bedrooms and bathrooms, neighborhood, school district, etc.), then you most likely won't need to view 50 homes. My goal isn't to make my own life easier by discouraging you from looking at more homes; my job is to make your home search as efficient as possible so that you can enjoy a smooth process. If you have any other questions about real estate, feel free to reach out to me. I'd love to be your real estate resource.

In light of the recent earthquakes that rocked our state, I'm happy to bring on Zachary Schneiderman from Schneiderman Insurance today to have him address (and shatter) three of the biggest misconceptions about earthquake insurance.    The first misconception homeowners fool themselves into believing concerns FEMA. Too often, people are under the false impression that FEMA will cover their home in the event of an earthquake.  But here's a little-known fact: Back in 1994 when the famous Northridge earthquake occurred, most homeowners were insured against earthquakes as part of their standard coverage. The carriers who offered it stopped including earthquake insurance shortly thereafter, which led to the birth of the California Earthquake Authority. Now, only about 10% of homeowners carry earthquake insurance.  FEMA simply doesn't have the resources to cover every single home in a major metro area, and receiving their assistance in the aftermath of an earthquake or other disaster takes a lot of time. Another thing most people don't know is when you do receive assistance, it's typically in the form of a loan, which is almost like having a second mortgage for repairs.  It's important not to rely on FEMA to save the day. You'll be much better off if you obtain a policy you can control with an insurance carrier that's financially stable and can process your claims in a timely manner.  “A 15% deductible might be high, but without insurance, you're stuck with a 100% deductible.” The second misconception pertains to something that scares a lot of homeowners: the deductible. Because of the high deductible cost associated with earthquake insurance, a number of homeowners are convinced that it's in their financial interest to just go without insurance.  A 15% deductible might be high, but without insurance, you're stuck with a 100% deductible. In the case of the 15% deductible, the policy will cover 85% of your claim, and if push comes to shove, you can borrow the remaining 15% from FEMA or a bank.  The final misconception Zachary mentioned during our discussion was the common belief that earthquake insurance is covered by homeowners insurance. The truth is that homeowners insurance policies seldom include earthquake insurance, and oftentimes, they explicitly exclude it. Certain homeowners associations may cover improvements needed to repair catastrophic damage, but they won't cover things like loss of use or damage to your contents.       Zachary urges you to speak with your insurance advisor and review your options so that you can make a well-informed decision with respect to obtaining the coverage you intend to have.   I thank Zachary for joining us to talk about this important topic today. If you have any questions related to earthquake insurance, give him a call at 818-322-4744. And if you have any real estate-related questions, you can call us at 818-396-3311. We'd be happy to help! 

If you don't have plans this Fourth of July, I have a family-friendly celebration you might be interested in. If you're looking for something fun to do with your family this Fourth of July, the Shepherd (of the Hills) Church here in Porter Ranch is holding their 21st annual 4th of July Spectacular, and I'm inviting you to come on down and join the festivities.  Their 21-minute fireworks finale after sundown is the main event, but there are plenty of fun activities taking place beforehand that both kids and adults can enjoy, including: Face painting Sprinkler zones  A youth cadet parade from the LAPD and the LAFD A flyover conducted by vintage World War II aircrafts The gates open at 4:30 p.m., and some of the city's favorite food vendors will be waiting for you, but you're welcome to bring your own cooler of food and drinks if you so desire. Just keep in mind that all bags and containers will be inspected before entry.  To learn more about the 4th of July Spectacular, click on this link. If you don't live close by and you don't want to worry about parking, it might be a good idea to use Uber or Lyft, or else park near the premises and walk the rest of the way there. “Their 21-minute fireworks finale after sundown is the main event, but there are plenty of fun activities taking place beforehand that both kids and adults can enjoy.” If you want to know about some other great locations to watch fireworks in Southern California this Fourth of July, check out this link.  No matter where you go, we want to wish you a happy and safe Independence Day! If you have any questions about this event, don't hesitate to reach out to me. I'd be happy to help you.

Today I'm revealing the latest news from our San Fernando Valley market, and speaking of news, it's good for both buyers and sellers. It's hard to believe that we're just weeks away from July, and so much has happened in our San Fernando Valley market between the first of the year and now. Without further ado, let's dive right into what we've been seeing in the market of late:  Out of 12,000 single-family units located in the 91326 area zip code, we currently have just 60 properties for sale. Toward the end of April this year, inventory was equally scarce with as few as 43 properties for sale. And this translate to roughly 1.9 months of inventory that we had at the end of April, but we're currently sitting at 1.7 months still available.  Historically speaking, inventory levels are usually a little higher following Easter—a trend that signifies the start of the spring selling season.   Right now, buyers are still showing a keen interest in getting into the market, which can likely be attributed to the steep decline in interest rates this year. To give you a better idea of just how far rates have fallen, consider that, in December, buyers could expect their rate to be anywhere from 5% to 5.25%.  As for today's market? A lot of buyers are securing rates between 4% and 4.25%, and in some cases, lower than 4%.  The same buyers who may have shown reluctance before are now jumping off the fence and into the market to take full advantage of their increased purchasing power. “Right now, buyers are still showing a keen interest in getting into the market.” Additionally, knowing full well they can get more home for their money, buyers from the southern and western part of the valley are continuing to trickle into northern areas of our market. As a result, correctly priced properties are seeing multiple offers stack up.  This is especially true of homes in prime condition because, despite all their purchasing power, quite a few buyers have little money left over for remodeling after they've bought a home.  If you have any questions related to real estate, give us a call at 818-396-3311 or you can email us at Scott@ScottWorks4U.com. We look forward to speaking with you! 

Are discount brokerages worth the few dollars they supposedly save you? We don't think so, and today we'll explain why. Many people in our market are curious about whether working with a discount brokerage is a wise choice to make. After all, if you can meet their real estate goals at a discount, why wouldn't you go for it?  Unfortunately, there's truth in the saying, “You get what you pay for.” The lower commission fee actually comes at a steep cost. Agents at a traditional brokerage tend to have much more experience (and much more knowledge) than those at a discount brokerage. Think of the slightly higher commission fee at a traditional brokerage as an investment in your own success.  Sometimes, people who list with a discount brokerage won't be able to sell at all. This was the case for one client our team took on earlier this year. After partnering with us, this client received multiple offers right out of the gate and was able to sell their property for cash within just nine days of listing it.  These results speak for themselves. The client may have paid just a little bit more for our guidance, but they more than made up for our commission fee by the time they reached closing.  “Think of the slightly higher commission fee at a traditional brokerage as an investment in your own success.” When you work with a traditional agent, they will oversee your success at every step of the process. Traditional agents go above and beyond for their clients' success by utilizing resources beyond the bare-minimum marketing plan they might find elsewhere. This means leveraging professional photography, social media marketing campaigns, and many other resources.  Not only do discount brokerages fail to offer such tools, they also tend to employ less experienced agents. And, of course, you need someone with experience in order to get the best deal for your home. This kind of experience is most commonly found at traditional brokerages, where agents are well-versed in negotiation and marketing techniques, among other things.  Traditional brokerages also offer more personalized service. You can be sure that by hiring a discount brokerage, you won't be treated like an individual. Agents at traditional brokerages, meanwhile, recognize that your unique circumstances require them to develop an equally unique home selling strategy.  With all of these points in mind, the choice is in your hands. While there is a market for discount brokerages, we always recommend you at least consider working with a traditional brokerage instead. When you see the effect it has on your bottom line, you'll know you made the right decision.  If you have any other questions or would like more information, feel free to give me or my team a call or send us an email. We look forward to hearing from you soon.

The Vineyards Shopping Center is nearly complete. Here's a quick update on what's going on and what you can expect in the coming months. Today I'm coming to you from the Vineyards Shopping Center at Porter Ranch. I'm standing in front of Nordstrom Rack, the first store to open here in the area. The next big opening is going to be Whole Foods, which is relocating from a 27,000 sq ft. building to a 44,000 sq ft. right here at the Vineyards Shopping Center on May 22. You can learn more about the grand opening, which will feature music, free samples, and more, here. The next two to open up are going to be Pete's Coffee and Ulta Beauty, which are both set to open in the next one to two weeks. Three more restaurant tenants have already signed on to come here: Kava Grill, Lure Fish House, and Gus's BBQ. A lot of other tenants are in the final stages of signing their leases here at the Vineyards, but we can't announce them at the moment. Expect those announcements in the next few weeks as the shopping center is finished. “Whole Foods is opening on May 22!” A lot of you have asked me about the AMC theater that was scheduled to open around the 4th of July with 900 seats, a bar, and more. Unfortunately, due to the torrential rains we've seen this spring, it will probably push the opening date back a few weeks or a month until later in the summer. They have to wait for the ground to dry out to finish construction.  The Hampton Hotel is scheduled to open in 2020 with 100 rooms, and Kaiser Permanente's building is opening up later this year as well. That's the latest news and notes for the Vineyards here in Porter Ranch. You can stay fully up to date with what's going on at their website here. If you have any questions for me in the meantime about the Vineyards or about real estate in general, don't hesitate to give me a call or send me an email. I look forward to hearing from you soon.

There's a lot of opportunity to be had with fixing and flipping a home, but it doesn't come without its share of headaches. While you can turn a handsome profit buy flipping a home, there are a few factors you need to take into consideration before buying a fixer-upper. First, you need to evaluate the price of the property. Make sure it's priced appropriately for the condition it's in and what that price will be after all the repairs are done. “Fixing and flipping a home isn't without its headaches.” Next, figure out how much of those repairs you'll be able to do on your own and how many you'll have to outsource for. It's one thing to repaint the walls or lay down some new carpet, but when it comes to any plumbing, electrical, or foundational work, you're probably better off leaving that to the professionals.  You'll also need to get good repair estimates. A kitchen repair can cost anywhere from $10,000 to $40,000 depending on what you want to do, which is having a contractor take a look at it and give you a good estimate will make all the difference. You should get these estimates before you even make an offer on the property, because the price of fixing a home has increased dramatically over the past few years—in fact, it's almost doubled.  Lastly, know what your stress limits are. Fixing and flipping a home isn't without its headaches, and oftentimes these projects take longer than you think. Unanticipated problems can arise and costs you more than you originally estimated, so your ability to deal with these variables is crucial.  If you'd like to know more about buying a fixer-upper or you have any other real estate questions I can help you with, don't hesitate to reach out to me. I look forward to hearing from you.