This trivia game is a great mixer for holiday parties of all ages and generations!Play as teams or individually.Make sure you prepare fun prizes for the winners!(Do a Google search for the answers.)
Listing your property with a real estate professional will save you time, money and frustration. As you discuss the asking price, be aware of these common pitfalls.
Overpricing
By following recent home sales in your area, you can avoid unrealistic expectations stemming from runaway price growth over the past few years. Each day an overpriced house sits on the market is another day the sellers miss the opportunity to attract the right buyers. Price your property close to what you’d actually accept.
Underpricing
On the other hand, some sellers underprice their homes in hopes of starting a bidding war or making a quick sale. When your listing price is too low, you risk turning off prospective buyers who might suspect there’s something wrong with the house. You could also be leaving money on the table when would-be buyers present a lowball offer on your underpriced property.
Glossing Over the Comps
Your agent will find the best comparable sales of homes similar to yours in features, location and size. Their comparative market analysis can help you nail the asking price. You may not agree with everything in the comps, but try to be open to the information presented.
Overvaluing Upgrades and Improvements
As frustrating as it is, you’re not likely to get back 100% of what you paid for upgrades to your property. Check the comps to see what impact various improvements have made on the selling price of other homes.
Emotional Attachment
Getting too emotional when selling your house can complicate what is essentially a business transaction. Try to think of your property as a large asset you can put toward the purchase of your new home.
Checklist for Choosing a Mortgage Lender
A mortgage is a financial commitment that can affect your lifestyle for many years. Take your time selecting a mortgage banker or lender that best fits your needs and financial situation.
Whether you work with a traditional bank, credit union or specialized lender, follow these tips to find your best match.
Don’t assume you’ll be eligible for the advertised lending rates. Get a personalized quote from each lender.
Find someone you connect with. It helps if you agree on the best mode of communication, whether that’s email, texts or phone calls.
Make sure the lender offers the specific services you need, such as pre-approval. Ask about prepayment penalties or online-payment fees.
Check reviews for feedback about customer service and ease of making monthly payments.
Contact each lender and review your questions. Follow your instincts about whether this is a company you can trust.
Texture Enhances All the Senses
Texture is trending in home decor. Your artful attention to the often-overlooked sense of touch can make a huge difference in your home’s first impression. This is especially important whether you’re hosting a party or staging your home for an open house.
Let your imagination run wild when creating a cozy, inviting home. Multi-textured surroundings can dramatically warm a room, making you and your guests want to linger longer.
Pillows and accessories are great, but don’t stop there. You can add dimension and interest in many other ways.
Enhance walls with brick or stone veneer, textured wallpaper or decorative wood trim and molding. Look for affordable solutions such as removable stick-on wood panels or peel-and-stick wallpaper.
Add a woven rug to define your floor space. Shag carpet is an option for the truly daring.
Make your staging pop with cane or rattan furniture, tufted sofas or boucle-upholstered chairs. Balance colors and textures with neutrals and smooth fabrics. Pair a fuzzy throw with a leather loveseat. Draw subtle attention to unexpected spots with a vase, basket or small lamp.
Security Systems Offer Financial Savings
A home security system can provide peace of mind for you and your family and may help you save money. Consider these three benefits, according to industry analysts.
Increase Your Property Value
Buyers want a safe place to live and will likely pay more for a secure home. Reinforced exterior doors, strong locks and outdoor motion sensors also enhance the appeal of your property.
Decrease Your Insurance Costs
Some insurance companies offer a discount of up to 20% off your monthly premium if you have a professionally monitored security system.
Prevent Costly Burglaries
The average loss due to a home break-in is close to $3,000.
Why You Need an Agent With New Construction
New construction can be a challenging situation in home buying. While you get to select your favorite colors and finishes, the path from slick brochure to move-in day can be tricky. Here are some ways an experienced real estate agent can smooth that path, according to Realtor.com®.
Most agents are familiar with the construction process and can negotiate extras.
Agents have long-term, solid relationships with trusted lenders. Include (but don’t limit yourself to) their recommended lenders in your comparison shopping. The same goes for the builder’s preferred lender.
A real estate professional can oversee home inspections, following up on any remaining punch list items.
Pro Tip: Ask your agent to join you on your first site visit so the builder is aware you won’t be using their representative.
Here’s everything you need to know about what’s happening in the Real Estate Market.
Real Estate News in Brief
The NAR’s Pending Sales Index for October fell 4.6% in a month and 37% compared to October 2021. Pending sales in the West region were down 46%. [Source: NAR] Keep in mind that 30-yr mortgage rates were >7% for the entire month of October. They’re now around 6.3%.
The Case-Shiller Home Price Index for September fell 1% in a month. From their peak in June, national home prices have slid ~2.5%, while prices in SFO & SEA are now down more than 10%. [Source: CoreLogic]
Fed Chair Jerome Powell said that “the time for moderating the pace of rate increases may come as soon as the December meeting” during a speech at the Brookings Institution. In other words, no more +75 bps.
The day after Powell’s comments, the PCE inflation figure for October came in at an annualized rate of 6%, better (that is to say, lower) than expectations and a further deceleration from 6.3% in September and the peak of 7% in June. [Source: BEA]
Companies added only 127k jobs in November, vs. +239k in October. This was well below Street expectations. Job losses in manufacturing & biz services dragged the total lower. [Source: ADP]
The NAHB’s Chief Economist expects a mild recession from 4Q 2022–2Q 2023, but sees mortgage rates at or below 6% by end-2023/early 2024, either because the Fed has ‘beaten’ inflation, or because the recession turns out to be bigger than expected. [Source: NAHB]
Pending Sales for October
With 30-year mortgage rates above 7% for the entire month, we knew that October pending sales would be bad — and they were. The NAR’s Pending Home Sales Index (PHSI) dropped 4.6% in a month. That’s the 5th-straight monthly decline in the PHSI. Compared to October 2021, the PHSI was down 37% YoY.
The contraction was significantly worse in the West, with October pending sales dropping 11% MoM and down 46.2% YoY. That’s right, pending sales nearly halved in the West.
Pending sales are a forward indicator of existing home sales (leading by 1–2 months). So prepare yourself for some nasty November and December existing home sales figures.
But there’s a silver lining: mortgage rates are already 90–100bps (a full percentage point) lower. As NAR’s Chief Economist Lawrence Yun wrote, “October was a difficult month for buyers as they faced 20-year-high mortgage rates…[but] The upcoming months should see a return of buyers as mortgage rates appear to have already peaked and have been coming down since mid-November.”
In fact, there are signs that a recovery in activity (thanks to lower rates) is already happening. The MBA (Mortgage Bankers Association) tracks new purchase loan applications on a weekly basis. This is the fourth week in a row that applications have risen week-on-week.
Case-Shiller for September
For the third consecutive month, home prices declined on a month-over-month basis. The national index was down 1.0% MoM, but the 20-city index was down 1.5% MoM. Don’t be fooled by the small numbers; these are big decreases. If this happened every month, prices would be down 12–18% in a year.
As in August, prices declined in each of the 20 big cities. However, for the cities experiencing the sharpest price drops (San Francisco, Seattle, Las Vegas etc.), the magnitude of price declines actually slowed a bit in September.
Source: S&P CoreLogic Case-Shiller Index
NAHB Webinar
Here’s how the National Association of Homebuilders’ Chief Economist, Robert Dietz, sees things:
2020–2021: Unsustainable, above-trend growth in home sales
2022–2023: Compensating below-trend growth in home sales
2024+: A return to trend growth in home sales (with >1 million in new home sales annually)
He expects a mild recession for the next three quarters, unemployment rates rising to near 6% (from 3% today) in 2024 and national home prices falling ~10%. At the same time, his message was essentially optimistic — lower inflation, interest rates and home prices will bring buyers (and builders) back relatively quickly.
A few anecdotes I found interesting:
~50% of the webinar attendees (most of whom were builders) said that they were responding to slowing demand with either price cuts OR enhanced incentives
The construction industry needs ~750,000 new workers every year to keep pace with demand and replace retirees
Right now, two cities in Texas (Houston and Dallas) are adding more new homes than the entire state of California
Note: In any given year, existing home sales are 7–15 times higher than new home sales. This isn’t because builders are lazy. It’s because there are around 145 million existing housing units. Even if builders were able to construct 2 million homes a year (something they’ve never achieved before), that would only raise the total housing stock by 1.3%.
Mortgage Market
After months of extreme volatility, 30-yr mortgage rates had flatlined at 6.6% for several weeks. But with another good (well, improving) inflation figure, and Powell sounding a bit less hawkish, the bond market was in party mode yesterday, rising 70–80 basis points.
Higher mortgage bond prices = lower mortgage bond yields = lower mortgage rates. Yesterday, the 30-yr mortgage rates moved sharply lower to 6.3% — that’s a full percentage point lower than the peak of 7.37% on October 20!
They Said It
“When home prices decline, it’s pretty rare for there to not be a recession.” — NAHB Chief Economist Robert Dietz
“To anyone with a sense of history, the home boom must be a source of wonder. Housing usually leads the economy into a recession. Mortgage rates rise, then housing construction and home sales fall.” — Robert J. Samuelson in a 2002 Newsweek article
Inspiration
There are many different approaches to measure ‘affordability.’ But they all depend on three factors: 1) household income, 2) home prices, and 3) mortgage rates.
Right now, all three factors are moving in buyers’ favor:
Workers are getting paid more
Home prices are starting to slide
Mortgage rates have peaked
Plus, there are more homes available, and less competition than last year, and sellers are more willing to negotiate on things like repairs, covering some closing costs, paying for points etc.
The key is to stay in regular contact with CA Real Estate Group. Your agent will let you know about price cuts, point out stale listings, and will keep you informed about mortgage rates. Also, waiting for the ‘perfect’ moment could be counterproductive. When (if!) conditions look perfect, they’ll look perfect to everybody else too.
The famous Christmas carol tell us that this is “the most wonderful time of the year!” However, a lot can go wrong over the holidays.
This infographic from Iron Security advises us what to be aware of. There are safety hazards, such as frayed electrical cords, holiday theft, and fire hazards, such as when frying turkeys or burning holiday candles. Establish these practical safety measures (even throughout the year) and make this holiday season the most wonderful time of year!
More people are upgrading their current property rather than moving. If you’re one of them and looking for guidance on resale value, project priorities and reputable professionals to work with to get it done, look no further! CA Real Estate Group is at your service!!
Do you find yourself ambling around your home looking like the Stay-Puft Marshmallow Man come winter? If you’re bundled up under layers upon layers of clothing just to keep warm in your living room, it’s probably a sign that the time has come to give your furnace a thorough once-over—and perhaps swap it out for a new one.
While replacing a furnace can be pricey, face the facts: It will be necessary at some point. Putting it off too long can actually cost you money—and can be hazardous.
“When your furnace breaks, not only is it uncomfortable, but dangerous,” says Mark Dawson, chief operating officer of One Hour Heating & Air Conditioning. “Many Americans die every year from exposure [to cold] inside their homes.”
Most furnaces are gas-powered central air systems, which first heat air and then blow it out through ducts and vents. But truly understanding how your furnace works is vitally important. Here are a few telltale signs your furnace is about to go kaput.
1. Your furnace has passed the 15-year mark
A furnace should last about 15 to 30 years before you’ll need a replacement, according to the U.S. Department of Energy. But exactly how long yours will last depends on the brand, furnace quality, and its overall efficiency.
“After 15 to 20 years, a furnace’s performance will most likely start to dwindle,” says Dawson. “While you can make repairs to the furnace, over time it’s more cost-efficient to replace the furnace altogether.”
So if your furnace is more than 15 years old, you should start looking into investing in a new one.
2. You have skyrocketing energy bills
Suddenly getting higher heating bills? This can be a blaring red signal that your system is running less efficiently.
“Over time, motors in the furnace begin to wear and use more energy to do the same amount of work they did when the unit was new,” says Todd Koehler, field manager for American Home Shield, the largest and leading home service plan provider. “This will lead to a pricier bill at the end of the month.”
Another downside to an aging furnace that has not been properly maintained? In addition to the motor, the gas valves and burners can work at a diminished efficiency, which can also cause the furnace to consume more gas.
“We often find a lot of older units showing signs of wear that can lead to inefficient operation up to the point there is a major failure,” says Koehler.
3. You notice elevated dust, soot, or rust particles
Clogged ducts can be the cause of more dirt falling from vents as well as the root cause of improper airflow to parts of the home. Very old systems—especially in homes with pets or smokers—are often in serious need of a thorough duct cleaning. And while a dirty furnace can be a sign of lack of maintenance, it could put you on the express lane to needing a replacement.
“Cleaning the burners for proper combustion will eliminate soot,” says Koehler. “And general maintenance such as duct cleaning and changing the unit’s filters will fix the dust issue.”
Plus, you’ll add to the life of your furnace in general. However, if there’s still a lot of dust after a thorough cleaning, a new furnace may be in order.
4. There’s too much humidity in the home
“A combusting furnace will dry out the air and remove humidity, which is normal,” says Koehler. But over time, the heat exchanger can develop thermal fuel residue. That residue will prevent your furnace from heating up enough to then remove humidity from the air. This can lead to higher than normal humidity—the ideal balance is between 30% to 40%—in the home.
“The opposite issue can also occur if the unit develops heat spots from years of operation,” adds Koehler. “Replacing the unit will help resolve these issues.”
5. Rooms heat unevenly
When your kitchen is hot while your den is freezing, it’s probably time to replace your furnace.
“The furnace isn’t pushing out the necessary heat throughout the home as it should,” says Dawson. “While you could have a licensed professional make repairs to the furnace, it’s a short-term solution—and the bigger problem will eventually have to be addressed.”
A good rule of thumb is if a repair costs about 50% or more of a new furnace, you should get a new one, adds Dawson.
6. Your furnace is noisy
Is your furnace loud? Or making more rattles, buzzes, or hums than a jazz trio? Then cracks, leaks, or other structural issues may be trumpeting that a new furnace is in order.
“There shouldn’t be any odd sounds coming from the furnace, apart from the typical noises a furnace makes when starting up,” says Dawson.
If you do notice things going thump in your furnace, it’s likely time to hire a licensed professional to do a maintenance check. Just keep in mind odd sounds are one of the first indicators that the furnace will need to be replaced soon.
“Cracks in the system or leaks might be more costly to repair than just biting the bullet and investing in a new furnace,” Dawson says.
To keep the holiday dinner conversations peaceful, instead of talking politics and religion, talk about REAL ESTATE! Here are your talking points. (Although it could easily lead back to the aforementioned subjects so beware.)
October Existing Home Sales Plunge
Much higher mortgage rates have ensured that this will be the coldest 4Q in quite some time — at least as far as existing home sales go.
According to the NAR, October existing home sales fell 5.9% month-on-month (compared to September 2022) and plunged 28.4% year-on-year (compared to October 2021). This is the 9th-consecutive monthly drop. This is much more than just a seasonal slowdown.
Note: The 4.43 million figure you see in the chart below is a seasonally-adjusted, annualized figure. 4.43 million homes were not sold in October. Instead, it’s telling you that if the pace of sales seen in October (adjusted for seasonality) continued for the next 12 months, you’d sell 4.33 million homes. This figure is just 10% above the May 2020 low of 4.07 million.
Source: NAR
In addition, there continues to be a big difference from region to region. Things were much worse in the West, where existing home sales were down 38% YoY and there was a dramatic contraction (41%-45%) in the sale of higher-end homes. On the other hand, the Northeast is performing the best (smallest contraction of 23% YoY). Also note that the big decline in homes priced between $100–250K across the US is at least partially due to fewer homes listed within that price range thanks to rapid home price increases.
October 2022 Existing Single Family Homes Sold
By Region and Sales Price
Source: NAR
Mortgage Market
After the big decline two weeks ago, average 30-year mortgage rates have hovered around the 6.6% level. This means that monthly mortgage payments are $100–200/month lower than they would have been in mid-November when rates were at 7.25% (with no points purchased).
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✅ These loans offer great benefits for eligible individuals and can help them buy a VA-approved house or condo, build a new home, or make improvements to their house.
✅ Homeownership is the American Dream. One way we can honor and thank our veterans is to ensure they have the best information about the benefits of VA home loans.
Our friends at Old Republic Home Protection share these safety tips to keep our families and our homes protected.
According to the National Fire Protection Association, approximately 51,000 electrical home fires occur annually, resulting in nearly 500 deaths, more than 1,400 injuries, and over $1.3 billion in property damage. And, according to the U.S. Consumer Product Safety Commission, nearly 400 people are electrocuted each year.
How can you keep your family safe from household electrical dangers?
1️⃣ Extension cords should be used as a temporary fix, not as household wiring. Keep them free of knots and tangling around other objects.
2️⃣ Do not attempt to force plugs into wall sockets if they don’t fit. Move to an outlet that will accommodate the plug securely and correctly. If plugs won’t stay in a socket, the outlet may be damaged and should be repaired or replaced.
3️⃣ Use lightbulbs with wattage that complies with the lighting fixture.
4️⃣ Keep all electrical appliances away from water! If an appliance does fall in water, unplug it before retrieving it.
5️⃣ Unplug all appliances during an electrical storm to prevent damage from power surges.
6️⃣ Keep a distance of at least three feet between space heaters and rugs, curtains, furniture, and other flammable objects.
7️⃣ Always use power strips with surge suppressors on delicate equipment, such as computers and home entertainment devices.
➡️➡️➡️ For more home maintenance tips, follow us on FB/IG @carealestategroup
Even in Los Angeles, there’s just something about the holidays that make you feel like ice skating outdoors; call it hometown nostalgia, call it a desperate desire to cool off from all this heat — whatever works! And you’re in luck because there are multiple places you can go ice skating in Los Angeles, even while wearing t-shirts and shorts!
Ice Skating here in SoCal can give you a taste of winter fun without the cold — thank goodness! We have our elves out there looking for more places, so stay tuned as we make updates! Here’s a list of the 11 best places to go ice skating in Los Angeles. Have fun!
For the first time in two years, the Holiday Ice Rink Pershing Square is returning to Los Angeles! Offering lots of winter fun, it’s the city’s largest outdoor rink, welcoming over 54,000 skaters each year. The rink will be open from November 23rd, 2022, through January 1st, 2023. Tickets are available online starting October 3rd, 2022, and must be purchased in advance.
Town Square Park 41902 Main St., Temecula, CA 92590
Drive to Temecula for some ice skating fun! “Temecula on Ice returns with a state-of-the-art ice rink, rental skates, Bobby skating aid, and its own radio station playing the best skating music.” The ice rink is open daily from December 15th through January 8th, 2023, including Christmas Day and a special New Year’s Eve skate. The minimum age to skate is 3 years old. Details and advance tickets are available online.
SkyPark at Santa’s Village: A Nostalgic Christmas in the Woods 28950 CA-18, Skyforest, CA 92385
There are so many things to do at Santa’s Village — tea with Mrs. Claus, breakfast with Santa, shows, and ice skating! “You might even catch Santa out there practicing his moves in between visits to his house and workshop.” Skate rentals are included, or you can bring your own. Recommended for all ability levels, ages 2 and older. Details are available online. They’re open from November 17th until January 2nd, 2023.
Hotel del Coronado
1500 Orange Ave., Coronado, CA 92118
If you feel like scheduling a little getaway, think about the famous Hotel del Coronado. From November 17th through January 1st, 2023, “the iconic resort shimmers and shines as its signature red turrets are draped in thousands of sparkling lights with magical Christmas trees, snowy surprises and garlands galore filling the property with holiday cheer.”
Their special Skating by the Sea Package includes overnight accommodations and two passes to The Del’s legendary beachfront ice rink. Details are available online.
Ocean Lawn at Paséa Hotel & Spa 21080 Pacific Coast Hwy., Huntington Beach, CA 92648
For a fun getaway option, you’ll find an outdoor skating rink at the Paséa Hotel & Spa in Huntington Beach. “This secluded skating experience is complete with holiday cocktails and bites, theme nights, evenings honoring first responders,” and more. Tickets are valid for 90 minutes of skating. Tickets must be purchased in advance and are available online.
Ken Dyda Civic Center
30940 Hawthorne Blvd., Rancho Palos Verdes, CA 90275
Families can have some fun ice skating while enjoying a view of the ocean! Skating in the Park opens Friday, December 16th with a special Tree Lighting Ceremony from 5:30 pm to 8:30 pm. The festivities also include holiday music, inflatables, on-site food trucks, and crafts.
The skating rink will be open throughout the months of December 2022 and January 2023. Reservations are recommended as drop-ins are limited. Check the website for hours, prices, and special themed nights happening throughout the month including Ugly Sweater, the 80s, Under the Sea, and Winter Wonderland.
Huntington Beach Holiday Ice Rink 325 Pacific Coast Hwy., Huntington Beach, CA 92648
Huntington Beach is the place for Surf City Winter Wonderland. From November 18th through January 8th, 2023, families can ice skate “with an unobstructed view of the pier, sand, and sea.” It’s an only-in-Southern-California opportunity. Get the cameras ready! Tickets and details are available online.
The Cube Santa Clarita
27745 Smyth Dr., Valencia, CA 91355
The Cube Santa Clarita invites families to participate this holiday season as they share the tale of the Grinch whose heart was “two sizes too small”. The fun begins on Saturday, December 10th with show times at 12:00 pm and 5:00 pm. Tickets are available online for this special experience. Check the website for details including regular public skating session hours.
Kana Okubo skating at Pershing Square in 2019, photo used with permission
You can skate under the stars at the only 8,000-square-foot outdoor ice rink on the Westside from November 16th – January 16th, 2023 and attend their grand opening on November 16th. There are no timed sessions and no limits. All-day skate passes include re-entry.
Irvine Spectrum Center
670 Spectrum Center Dr., Irvine, CA 92618
From November 4th through January 8th, 2023, families can take a drive to the Irvine Spectrum Center for the chance to Skate Under the Stars! The popular ice skating rink is located in Giant Wheel Court and is open daily. Thirty-minute skating lessons are also available on Saturdays. Check the website for prices and details.
Civic Center Plaza 717 W. Santa Ana Blvd., Santa Ana, CA 92701
The City of Santa Ana is hosting Winter Village, a family-friendly holiday attraction, from December 8th through January 8th, 2023. The festivities include live entertainment as well as an outdoor ice skating rink. A tree lighting ceremony will be held on December 10th at 5 pm. Ice skating is offered for ages 3 and up. Space is limited; advance purchase is recommended and can be done online.
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©2022 The Personal Marketing Company. All rights reserved. Reproductions in any form, in part or in whole, are prohibited without written permission. If your property is currently listed for sale or lease, this is not intended as a solicitation of that listing. The material in this publication is for your information only and not intended to be used in lieu of seeking additional consumer or professional advice. All trademarked names or quotations are registered trademarks of their respective owners.
✅ VA Loans can help make homeownership possible for those who have served our country.
