Enjoy these helpful real estate tips and advice in this month’s edition of Insights in Real Estate:
1️⃣ Buyers Consider ARMs as Interest Rates Rise
2️⃣ Making an Offer on a House That’s Contingent
3️⃣ Which Amenities Are Buyers Seeking?
4️⃣ Tapping Home Equity
5️⃣ Don’t Skimp on Home Inspections
Over the past few weeks, the average 30-year fixed mortgage rate from Freddie Mac fell by half a percent. The drop happened over concerns about a potential recession. And since mortgage rates have risen dramatically this year, homebuyers across the country should see this decline as welcome news.
Freddie Macreports that the average 30-year rate was down to 5.30% from 5.81% two weeks prior (see graph below):
But why is this recent dip such good news for homebuyers? As Nadia Evangelou, Senior Economist and Director of Forecasting at the National Association of Realtors (NAR), explains:
“According to Freddie Mac, the 30-year fixed mortgage rate dropped sharply by 40 basis points to 5.3 percent. . . . As a result, home buying is about 5 percent more affordable than a week ago. This translates to about $100 less every month on a mortgage payment.”
That’s because when rates go up (as they have for the majority of this year), they impact how much you’ll pay in your monthly mortgage payment, which directly affects how much you can comfortably afford. The inverse is also true. A decrease in mortgage rates means an increase in your purchasing power.
The chart below shows how a half-point, or even a quarter-point, change in mortgage rates can impact your monthly payment:
Bottom Line
If your home doesn’t meet your needs, this may be the opportunity you’ve been waiting for. Let’s connect to see how you can benefit from the current drop in mortgage rates.
If there was ever a downside to summer, it would be Mosquito Bites! If you’re not sure how to control the mosquito population in your yard, below are helpful tips to protect your family and home from mosquitoes.
Tip: Get rid of standing water in your outdoor spaces. Standing water may be in your child’s plastic toys, areas underneath downspouts, plant saucers, or dog bowls. Other areas may include traps, gutters, and flat roofs.
Toss: Remove excess grass, leaves, firewood, and grass-clippings from your yard.
Turn: Turn over larger yard items that could hold water, like children’s portable sandboxes, plastic toys, or birdbaths.
Remove Tarps: If tarps stretched over firewood piles, boats, or sports equipment aren’t taut, they may be holding water that you should remove.
Take Care: Take care of home maintenance needs that can lead to standing water. This includes cleaning out gutters, making sure downspouts are adequately attached, keeping your grass cut low, and check irrigation systems for leaks.
Team Up: Despite taking all precautions in your own home, talking to neighbors is a crucial component to mosquito and tick control. Homes with little space between lots can mean that mosquitoes breed at a neighbor’s house and affect your property.
Treat: Utilize a mosquito elimination barrier treatment around your home and yard.
HOW TO CONTROL THE MOSQUITO POPULATION
Implementing the 7 T’s of mosquito control is essential to protect you and your family from bites and diseases. However, there are other things you can do that can help you eliminate mosquitoes from your yard. For example, using a barrier treatment reduces the need for using DEET-based bug repellent on the body. Mosquito Squad’s barrier treatment eliminates up to 90% of the mosquitoes and ticks on a property. Applied by our professional applicator, the Barrier Protection Treatment continues to work for up to 21 days. Our team will remind you in advance of upcoming services and leave you a notice that we’ve visited. Our service is automatic, so you don’t need to be home during the application. The best part is that your children and pets only need to wait 30 minutes before returning to the yard!
Pull your calendars out and plan a picnic, get your lawn chairs ready, and get ready to head to your local park. Plus, guess what? Almost all the Orange County summer concerts are FREE!
Here are two sites that have compiled a list of all the summer concerts by respective Cities. They provide links to the actual event and/or City websites that provide complete info.
Grab a picnic basket and some friends and dance your way to one tonight!!!
This myth can stop potential homebuyers cold. The median listing price in the U.S. is $385,000 [$1.1 million in Orange County]. You would have to have $77,000 [$220,000 in Orange County] readily available if you wanted to make a 20% down payment, an amount that can be daunting for a lot of people.
“It’s one of the biggest myths out there,” says John Mallett, founder of mortgage broker MainStreet Mortgage. “It stops more people from entering the market or even seeing if they can qualify.”
In reality, 20% down is more of a guideline than a hard and fast rule. In fact, the average down payment equals 12%. For first-time buyers it goes down to 7%.
Government-backed options, such as FHA loans and USDA loans, can be secured with as little as 3.5% down. If you are a member of the armed forces or a veteran and you qualify for a VA loan, you can buy a home with 0% down.
Conventional loans also don’t require a 20% down payment, but with less money down you will generally need to pay for private mortgage insurance. PMI costs 0.5% to 1% of your loan amount per year and is paid in monthly installments. So, if you have the money to pay 20% down, however, it can make sense to do it. Having more equity also protects you if home values fall.
You can also apply for a number of different grants and homebuyer assistance programs that can provide money for a down payment. These programs can include grants, forgivable loans and second mortgages that can provide partial or full down payment help. (Brokerage Redfin has put together a list of down payment assistance programs available nationwide and by state.)
CA Real Estate Group can find solutions for you and connect you with our preferred mortgage experts. Call us today!
When it comes to pricing your house, there’s a lot to consider. The only way to ensure you price it right is by partnering with a local real estate professional.
To find the best price, your agent balances current market demand, the values of homes in your neighborhood, where prices are headed, and your home’s condition.
Don’t pick just any price for your house. If you’re ready to sell, let’s connect to find the perfect price for your house.
💡 Find out if we’re the right Realtor Team for you! Check out @carealestategroup
A few simple steps will keep your gas grill in top condition. Follow this grill maintenance checklist all year long for safer, cleaner grilling. For charcoal grill maintenance tips, click here.
When the Season begins
When the Season Ends
Choose from over 20 festive and tasty 4th of July themed drinks to stay cool and refreshed this summer!
This is a fun non alcoholic drink that both kids and adults will enjoy at your 4th of July party.
6. Sparkling Blueberry Mojito Punch
Just 5 easy ingredients in this drink recipe for an easy and festive drink. The blueberries make it look extra special and so fun.
7. Red White and Blue Smoothie
Your kids will love the patriotic stripes in this delicious smoothie. Layers of almond milk, fruit and more come together for a great treat.
8. Red White and Blue Punch
This is another fun layered red white and blue punch that’s perfect for the kids. This one uses Gatorade, Cranberry Juice and Mandarin Orange Sparkling water.
9. Blueberry Mojito
This blueberry mojito is one way to use up all of those yummy blueberries.
This surprisingly simple drink uses white wine, white soda. It gets its patriotic colors from frozen cherries and blueberries.
13. Red White and Blueberry Margaritas
This festive margarita uses frozen strawberries, coconut milk and frozen blueberries. Just layer it in a fun glass.
14. Citrus Splash
This looks like an entertaining drink. How fun is it that they used pop rocks along the rim of the glass?
15. Patriotic Ice Cream Sodas
These ice cream sodas look phenomenal and I bet they taste as good as they look, too! To get the fun colors all you have to do is change up the variety of soda.
16. Fourth of July Milkshakes
This recipe had my attention as soon as I read the word milkshake. Okay, the added whipped cream and sprinkles certainly makes it more appealing as well.
17. Raspberry Lemonade
Just a few simple ingredients and you can make the delicious Raspberry Lemonade.
18. Red White and Blue Pina Colada
This drink has a blend of pineapple, coconut and strawberries. You can’t beat the combo of pineapple with coconut in this 4th of July drink.
19. Red White and Blue Sparkling Juice
This is like a 4th of July snack in a glass. Everyone will love downing the ginger ale and then eating all of the fruit.
20. Fourth of July Sparkler
The lovely drink uses Rosé Champagne, club soda and berries. The different colors and berries make the drink festive.
21. Red White and Blue Daiquiris
The daiquiris use frozen lemonade and lime aid. A bonus is that you can make these ahead of time and freeze.
22. Fourth of July Layered Drink
This layered drink uses white Powerade, Cran-Apple juice and Blue Gatorade. The colors magically stay separated in each drink.
23. Watermelon Lemonade
Watermelon juice is so refreshing. Combine that with Lemonade and you have yourself a winning summery drink.
The Fourth of July is the biggest celebration of the year. Family and friends gather to celebrate Independence Day clad in red, white, and blue clothes and patriotic hats and glasses. It’s time for parades, barbecues, and fireworks. Here’s a list of events to help you find a 4th of July celebration near you.
*Some 2022 Events have been cancelled due to COVID-19. Please check the websites for details.
Safe and Sane Fireworks are allowed in certain Orange County cities with restrictions. The fireworks must be approved by the CA State Fire Marshal and each city has designated times in which fireworks can be discharged. The following cities allow Safe and Sane fireworks on July 4th on private property and residential streets only:
Anaheim: 10:00 am – 10:00 pm (No fireworks in East Anaheim)
Buena Park: 10:00 am – 10:00 pm
Costa Mesa: July 2 – July 4 until 10:00 pm
Fullerton: 10:00 am – 10:00 pm
Garden Grove: 10:00 am-10:00 pm
Huntington Beach: Noon-10:00 pm
Santa Ana: July 1st Noon-10:00 pm; July 2nd & 3rd 10:00 am – 10:00 pm; July 4th 10:00 am – 9:00 pm
Kick off your Independence Day with the community parade at 9AM, followed by a free community festival with games, a rock wall, DJ and Gamemaster, giant slide, and face painting.
AVCA July 4th Celebration Where: Grand Park/Town Center Amphitheater – 6101 City Lights Drive When: 6PM – 9:30PM
Activities: Experience the annual 4th of July Celebration and fireworks. Features face painting, community booths, create-a-card, and carnival games.
Activities: Start the day off at Canyon High School with the Firecracker Run 5K/10K (7AM) followed by the Yankee Doodle Dog Show (9:00AM) and the Fourth of July Parade (1:00PM). Move over to Peralta Park for food vendors and live entertainment. Fireworks begin at 9:00 p.m.
Activities: Pancake breakfast by the Kiwanis Club begins at 7 a.m. followed by a morning service. The Country Fair begins at 9:00 a.m. and includes a Kiddie Parade, Bow Wow contest, Teen Fun area, craft area, food, rides, live entertainment, games, and exhibits. $3 swimming at the Plunge opens at 11 a.m.
The free community celebration invites you to bring your family and friends for a memorable day with activities, live music, contests, and a fireworks show. Bring your lawn chairs and blankets and set up on the lawn for an evening of fun. Food and drinks will be available for purchase but you are welcome to bring your own picnic. The event is free, parking is $10. Fireworks start at 9:30PM.
Activities: Come watch the Pacific Symphony July 4th Spectacular Hotel California: A Salute to the Eagles. The Pacific Amphitheater event will include patriotic tunes and a fireworks display.
CYPRESS
Salute To America Where: Cypress College – 9200 Valley View Street When: Friday, July 1, 2022 5:30PM – 9:30PM
Activities: Enjoy this patriotic celebration with live music by the Smokin’ Cobras, food trucks, vendors, entertainment, and a fireworks display at 9PM.
DANA POINT
There will be a flyover at 5:55 to 6PM on the 4th of July. The Condor Squadron includes WWII North American AT-6 airplanes.
Activities: Family activities, rides for kids, food vendors, live music and more. Fireworks begin at 9:00.
HUNTINGTON BEACH
4th of July Celebration Where: Huntington Beach Neighborhoods and Downtown When: July 4th All Day
Activities: The biggest 4th of July Parade in Orange County has been modified again for 2022. There will be a parade caravan traveling through Huntington Beach neighborhoods on the morning of the 4th of July. The parade route will be announced at a later date. There is also a city-wide decorating contest that residents and businesses are invited to participate. For 2022, a Pier Plaza Festival is planned with vendors, a Ferris wheel, and a 12,000 square foot beer and wine garden. The Surf City 5K run will feature staggered start times on a course along Goldenwest and into Central Park. Finally, fireworks over the ocean have been tentatively approved. Stay tuned for more details.
July 4th Celebration Where: Founders Park – 28275 Avendale Blvd., Ladera Ranch When: July 4, 2022 – 3PM – 9:30PM
Activities: Games and activities will include a bungee, giant slides, the Wizzer, rock wall, Orbitron, zip line, race game trailer, face painting, artists, and carnival games. Fireworks at 9PM.
Schedule of Events
7:00 a.m. – 10K Freedom Run
7:45 – 11:30 a.m. – Pancake Breakfast
8:30 a.m. – 5K Freedom Run
9:30 a.m. – 1K Kids’ Firecracker Dash
10:30 a.m. – Community Parade
3:00 – 8:00 p.m. – Games & Activities
3:00 – 9:00 p.m. – Food Trucks
5:00 – 8:00 p.m. – Teen Zone
6:00 – 9:00 p.m. – Concert (Undercover – Top 40)
Dark – Fireworks
Activities: Fireworks show. This is a popular event. Come early to spend a day at the beach before the fireworks.
LAGUNA HILLS
Fourth of July Celebration Where: Laguna Hills Community Center & Sports Complex When: Cancelled
Activities: Carnival rides, games, live music, patriotic crafts, face painting, food and drinks available for purchase. No seating available, bring lawn chairs. Fireworks at 9:00 p.m.
July 4th – 5K & Kids run at Crown Valley Park (8AM), Pancake Breakfast (7:30AM – 10:30AM), Free Lap Swim & Pool Party at Laguna Niguel Aquatics Center, Patriotic Flyover (5:30PM), Concert At Crown Valley Park (6PM-8PM), an Fireworks display.
Activities: 4th of July Parade – “The Parade Is Back In Town” Parking is at El Toro High Schools back parking lot, and on Lake Forest Drive and Serrano Road. The Kiwanis will serve a pancake breakfast at 7AM in front of the high school, and the El Toro Chargers 5K run/walk begins at 7:30AM.
LA HABRA
4th of July Celebration Where: La Bonita Park: 1440 W. Whittier Blvd. When: July 4, 2022, 4:00 – 10:00PM
Activities: Fireworks show, flyover, live music by Pop Vinyl, kid’s activity booths, food vendors and general vendors. Fireworks begin at 9:00 p.m. Presale cost (June 6-30) is $5 for 13 and up, $3 for kids 3-12 years old. July 1 – 4 cost is $7 for 13 and up, $5 for ages 3-12. Limited capacity – wristbands required.
Activities: Gates open at 4:00 p.m. Fireworks begin at 9:00 p.m. Bring chairs and blankets and claim your spot to enjoy the show. There will be vendors, food, entertainment, and a family fun area. Entry will be through the Lexington or Orangewood gates.
MISSION VIEJO
July 4th Street Faire Where: Olympiad between Marguerite and Melinda When: July 4, 2022
Activities: The street faire begins at Noon and includes food, live entertainment, games, vendor booths, and family fun. Plus, fireworks will begin at 9:00 p.m.
NEWPORT BEACH
July 4 Fireworks Cruises With Davey’s Locker Balboa Peninsula, Newport Harbor Where: Davey’s Locker, Pavilion Building 400 Main Street Newport Beach 92661 When: July 4, 2022 (7 pm to 9:45 pm)
Activities: Join cruises to view the amazing fireworks shows Newport Beach is known for. Cruises start off touring Newport Beach and viewing the yachts and boats celebrating July 4th, as well as Bay Front estates going all out with Independence Day events. As the sun sets the ships choose from several huge fireworks displays and get positioned for the show. The sights and sounds of fireworks over the ocean is a magical experience. This is a sell out event. For more info and tickets go to https://cruisenewportbeach.com/book-cruise_newportbeach.html or call 949-673-1434.
For those who can’t make the fireworks cruises, fireworks shows take place from Newport Back Bay, a private barge just outside the mouth of Newport Bay, viewable from the Wedge and surrounding beach, and an amazing private show off Emerald Bay Newport Coast just south of Newport Bay.
Annual 4th of July for Families Newport Peninsula Bike Parade at 9:00AM W. Balboa Blvd. & 36th Street Community Festival 9:30 – 11:30AM Channel Place Park – 4400 Channel Place
Carnival Games + Arts & Crafts + Lawn Games & Music + Food for Sale
Annual Mariners Park Independence Day Celebration Parade begins at 10:30 on the corner of Commodore and Mariners Drive
Celebration 11:00AM – 1:30PM
Food trucks, Live music, free entertainment, eating contests, lawn games, puppet show
Activities: Guests will enjoy a weekend full of events and fun including swimming, watersports, inflatable water park, movies on the beach, and more. Fireworks show on 4th of July.
Activities: Decorated boats will be cruising the Harbor. Come out and watch or join the fun.
ORANGE
3rd of July Celebration Where: Grijalva Park – 368 N. Prospect St. When: July 3, 2022, 4-9PM
Activities: The City of Orange’s 2022 Third of July Celebration will feature music, games, kids activities, food trucks, and a fireworks display. Children 2 and under are free, general admission is $7.
July 4th Star Spangled Spectacular Where: Lago Santa Margarita Beach Club and Lakeshore Park: 21472 Avenida De Los Fundadores, Rancho Santa Margarita When: July 4, 2022 8:00AM to 9:00PM
Activities: This year, SAMLARC is hosting a 4th of July celebration complete with food, a patriotic bike parade, activities on the lake, and a fireworks display.
Activities: Enjoy a weekend packed with fun at the summer carnival featuring music, dancing, carnival rides and games, bounce house, food, exhibitors, and fireworks at 9:00 p.m. on July 4th! Free trolley service!
Friday, July 1: Carnival is 4PM – 10PM
Saturday & Sunday: Carnival runs 12PM – 10PM
Monday, July 4th: Summer Carnival & 4th of July Celebration 12PM – 10:30PM
Activities: Fireworks begin at 9:00 p.m. A livestream will begin at 8:30 at www.Tustin4thOfJuly.com with a radio broadcast of music on 91.7 FM. The High School will remain closed. Families are asked to watch the show from home.
Activities: For 2022, Villa Park rolls out the Stars On Parade masked strolling and rolling event on the 4th of July. Decorate your bike, scooter, wagon, skateboard, stroller, or scooter and join in the fun. Motorized vehicles will be permitted but will park on Taft and enter the group after walkers have passed. Line-up begins at 8:30 am.
YORBA LINDA
4th of July Fireworks Spectacular Where: Veterans Sports Park – 4756 Valley View Ave. & Yorba Linda Middle School – 4777 Casa Loma Ave. When: July 4, 2022 beginning at 5:00 PM; Fireworks at 9:00 PM
Activities: Food vendors, family activities, live band featuring Rouge Radio and fireworks display.
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