IT’S ALL ABOUT SUPPLY & DEMAND… Due to our current supply shortage bidding wars are back in our market. Homeowners who are selling now are able to secure top dollar for their property.
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Virtual Events to Check Out This Month in O.C.
Robin Jones -July 1, 2020
Pacific Symphony, Irvine
Favorite past performances are broadcast every Sunday at 7 p.m. on KUSC 91.5 FM, including “Rhapsody in Blue” with pianist Aaron Diehl (July 12) and Beethoven’s Symphony No. 7 with pianist Vadym Kholodenko. The symphony’s 2017 performance at Segerstrom Hall of “Ellis Island” will show on PBS’s “Great Performances” on July 3 at 9 p.m. pacificsymphony.org
Muckenthaler Cultural Center, Fullerton
In addition to upcoming drive-in movie nights and concerts, the center is creating a sculpture garden on its 8.5-acre grounds to allow visitors to enjoy art with social distancing. The first piece to be installed was “Godot” by local artist Bret Price, a contemporary sculptor who works in steel. His work is in the collection at the Smithsonian American Art Museum. themuck.org
Bowers Museum, Santa Ana
“Reel Art: Movie Posters from Ghana,” one of the museum’s favorite exhibits from its permanent collection, is now showing online. Visitors to the website can see the poster art, view photos of the artists, and read about the history behind the posters while listening to a playlist created specifically for the exhibit. bowers.org
Chance Theater, Anaheim
In their regular series of “Chance Cyber Chats,” actors, directors, producers, and dramaturges who have worked with the theater lead panel discussions about Broadway shows streaming on Broadway HD. The show for July 10 is “The Lion,” and the chat on July 24 will focus on “If I Forget.” chancetheater.com
Laguna Playhouse, Laguna Beach
Playhouse regulars Erika and Brent Schindele team to sing favorite songs from popular musicals such as “Brigadoon” and “Merrily We Roll Along,” and musician Jason Feddy performs songs from Shakespeare plays, in “Play at Home” videos regularly posted to the playhouse’s YouTube channel. lagunaplayhouse.com/play-at-home-laguna
OCMA, Santa Ana
The museum posts new visual, audio, and video programming about art and artists under four categories—listen, learn, watch, relax—along with live programming with local artists every Thursday. Videos include interviews with artists Brice Bischoff and Sean Duffy, and audio offerings include a guided meditation with artist Kathryn Garcia and a playlist curated by painter and installation artist Dave Muller. ocmaexpand.org
Segerstrom Center for the Arts, Costa Mesa
“Center at Home” offers a slate of virtual acting, music, and dance classes, as well as performance highlights from shows. videos.scfta.org
First West Nile Virus Positive Mosquitoes Confirmed in Orange County
According to Orange County Mosquito and Vector Control District First West Nile Virus Positive Mosquitoes Confirmed in Orange County. As of 07/09/20 West Nile virus (WNV) positive mosquito samples have been detected in three Orange County cities: Anaheim, Cypress and Garden Grove. The District has also confirmed that one WNV positive dead bird was collected in City of Irvine. In the past few months samples were collected in other cities.
Eliminating mosquito breeding sources is critical to preventing the spread of West Nile virus. For more information on how you can help reduce the risk of WNV in your community, visit bit.ly/WNVinOC
To read the entire press release, visit: bit.ly/WNVPressRelease
A Historic Rebound for the Housing Market
Pending Home Sales increased by 44.3% in May, registering the highest month-over-month gain in the index since the National Association of Realtors (NAR) started tracking this metric in January 2001. So, what exactly are pending home sales, and why is this rebound so important?
According to NAR, the Pending Home Sales Index (PHS) is:
“A leading indicator of housing activity, measures housing contract activity, and is based on signed real estate contracts for existing single-family homes, condos, and co-ops. Because a home goes under contract a month or two before it is sold, the Pending Home Sales Index generally leads Existing-Home Sales by a month or two.”
In real estate, pending home sales is a key indicator in determining the strength of the housing market. As mentioned before, it measures how many existing homes went into contract in a specific month. When a buyer goes through the steps to purchase a home, the final one is the closing. On average, that happens about two months after the contract is signed, depending on how fast or slow the process takes in each state.
Why is this rebound important?
With the COVID-19 pandemic and a shutdown of the economy, we saw a steep two-month decline in the number of houses that went into contract. In May, however, that number increased dramatically (See graph below):This jump means buyers are back in the market and purchasing homes right now. Lawrence Yun, Chief Economist at NAR mentioned:
“This has been a spectacular recovery for contract signings and goes to show the resiliency of American consumers and their evergreen desire for homeownership…This bounce back also speaks to how the housing sector could lead the way for a broader economic recovery.”
But in order to continue with this trend, we need more houses for sale on the market. Yun continues to say:
“More listings are continuously appearing as the economy reopens, helping with inventory choices…Still, more home construction is needed to counter the persistent underproduction of homes over the past decade.”
As we move through the year, we’ll see an increase in the number of houses being built. This will help combat a small portion of the inventory deficit. The lack of overall inventory, however, is still a challenge, and it is creating an opportunity for homeowners who are ready to sell. As the graph below shows, during the last 12 months, the supply of homes for sale has been decreasing year-over-year and is not keeping up with the demand from homebuyers.
Bottom Line
If you decided not to sell this spring due to the health crisis, maybe it’s time to jump back into the market while buyers are actively looking for homes. Reach out to a local real estate professional to determine your best move forward.
How to Keep Your Dog Calm During the 4th of July
Unsplash/Jennifer Chen.
How to help your pet through this fun but noisy holidaySUNSET – July 2, 2020
Unless you’ve been living under a rock (or in a doomsday shelter) you might have noticed that both illegal and “safe and sane” fireworks have been at an all-time high this month. And if you have a pet, you know that the loud booms have been especially unsettling for our furry friends.
To dogs, consistent loud noises and bright, flashing lights can cause a lot of distress, making the 4th of July (and the weeks before and after) one of the biggest times of the year for pet stress.
First, it’s important to recognize the many ways dogs can show signs of stress and anxiety. These signs can include: heavy panting, drooling, pacing, hiding, or trying to escape, trembling, potty accidents, wide eyes, and whining or barking. Pay attention to your dog and learn to recognize these signs or any other abnormal behavior.More Videos From SunsetHow to Pack an Emergency KitBe ready for any disaster with a pre-packed emergency kit.Volume 0%00:0501:11
Luckily, there are plenty of ways to help your dog overcome their fireworks-related anxiety. Here are some of the best tips I’ve tried with my easily spooked pup that seem to help.
Keep Your Dog(s) Inside During the Fireworks
This is a no-brainer, but you’d be surprised how many people take their pets with them to enjoy a fireworks show. Not only is it scary for dogs to be out in the open or in a car with loud noises all around them, but it can also cause them to react in fear and run away. Keep in mind that fireworks may be enjoyable for humans, but they can be traumatizing for pets. If there is no other option, be sure to keep your dog’s tag and collar on at all times, and make sure your dog is chipped. This will make it infinitely easier to track down your pup should the unthinkable happen.
Get Plenty of Exercise
Tiring your dog out is a great way to ensure they sleep through the fireworks finale, which will give you all the freedom in the world to enjoy the show without worrying about your pet. An extra-long hike or ball-chasing session should do the trick, but make sure your dog is physically fit for the extra workout or it could lead to other long-term health issues.
Try Calming Treats
It’s important to do your research and consult your vet before giving your dog any calming treats or CBD tinctures. We’ve tried and loved NaturVet Quiet Moments Calming Aid Dog Soft Chews, which are chock-full of natural and active ingredients (vitamin B1, L-tryptophan, and melatonin) that promote calm and restfulness. We give our 70-pound dog four chews about 30 minutes before any high-stress event, coupled with reassuring petting and his security blanket, and it really makes a difference. While it’s tempting to give an anxious pet treats daily, check with your vet as even OTC treatments can cause digestive issues.
NaturVet Quiet Moments Calming Aid for Dogs, from $12 Buy Now
A note on CBD for dogs:
While many dog owners have reported success using CBD oil to treat anxiety, there is currently no scientific data on how using CBD oil affects dogs. Because CBD products are not yet regulated, meaning consistency and purity are not always validated, check with your vet for the proper dosage for your pet’s breed and size.
Try Soothing Sounds
If it’s bedtime and both you and your pup are having trouble dozing off, try a white noise machine, fan, or even the TV. The soothing and familiar sounds can help drown out some of the noise outside and re-runs might help you fall asleep more easily than an exciting new show. However, if the booms from the fireworks are too loud to drown with a fan or TV, turn up the music.
SNOOZ White Noise Sound Machine, from $79.99 Buy Now
A 2002 study found that music with a tempo of 50-60 beats per minute can greatly relax dogs, which means it’s time to make some classical, reggae, and soft rock mixes on Spotify for your pup. You can also purchase a device specifically geared towards dogs like the RelaxoPet Subliminal Sound Calming Aid.
RelaxoPet PRO Relaxation Trainer, $89.90 Buy Now
Create a Zen Spot
Chances are your dog runs and hides, tail in between legs when he hears a loud noise. By giving your dog the choice to leave a situation, you increase their confidence in dealing with uncertain or stressful moments. When choosing a “safe space” for your dog, look for a spot that is quiet, easily accessible, close enough that you can check on them, temperature-controlled, and big enough for your dog to stretch out as he/she needs. Be sure to provide water and any other comforting objects your dog enjoys, such as a security blanket (we like the ones from PetFusion) or safe chew toys. If your dog is feeling extra jumpy, check out the Thundershirt Anxiety Jacket, which is designed to apply gentle, constant pressure to calm anxiety, fear, and over-excitement.
Thundershirt Classic Dog Anxiety Jacket, from $39.95 Buy Now
PetFusion Premium Pet Blanket, $17.99 Buy Now
Have a happy, safe, and stress-free Fourth of July!
to see original article click here
4 Reasons Why Now Is The Ideal Time To Sell Your Southern California Home
by First Team Real Estate | Jun 30, 2020 | Buying | 0 comments
Wondering when the ideal time to sell your Southern California home is? The answer could be right now. We always want to help you make the smartest decisions when it comes to your real estate investments, and that’s why it’s important to know that right now is the absolutely ideal time to sell your home because of our current seller’s market. Inventory is low, prices are rising, and pent-up demand alongside low mortgage rates has the market flooded with homebuyers.
Low housing inventory
This April, inventory fell to its lowest level ever recorded for the month across the country according to the National Association of Realtors®. A seller’s market in real estate is defined by 3 months of inventory or less, and inventory across Southern California just reached 3 months. This limited supply keeps prices high as buyers compete to get a deal. Pending and sold transactions have just begun rising so the sooner you list this summer, the less competition there will be for you, equating to a very high probability of getting multiple, quality offers on your home.
Prices have continued to rise
Across the board, U.S. home prices have continued to rise despite coronavirus, gaining 5.5% in April according to NAR data. The major bottleneck in inventory, and a tremendous amount of buyer interest, is supporting this price growth. Speaking of which…
Buyer demand is off the charts
At the beginning of June, home-buying activity rose to about 88.9% of where it was before lockdowns disrupted the market according to data from realtor.com. This is thanks in part to historically low mortgage rates that have fallen as low as 3.13%. This was also pent-up demand from an unusually slow spring, rebounding along with the real estate market now that our country begins to open back up.
Low mortgage rates
According to our Weekly Mortgage Watch, rates have hit historic lows and they’re projected to remain low amid Coronavirus. This creates a huge incentive for buyers who are ready to purchase and jumping into the market today. And as a homeowner, this influx of eager buyers (and multiple offers) creates an opportune time to sell as well. If you’re ready to sell your house, know that the motivation for buyers to purchase right now is as high as ever with rates where they are today.
Low mortgage rates also ensure you can sell your home and get an amazingly low rate on your dream home, making it more affordable now than ever.
Obviously everyone’s individual situation is unique, but for the majority of homeowners, this marks a particularly advantageous opportunity to cash out big when you sell your home and secure a low mortgage rate for yourself to buy your dream home. If you’re unsure, click here to check your home’s current value.
What Are the Experts Saying About Future Home Prices?
Normally, there’s a simple formula to determine the future price of any item: calculate the supply of that item in ratio to the demand for that item. In housing right now, demand far exceeds supply. Mortgage applications to buy a home just rose to the highest level in 11 years while inventory of homes for sale is at (or near) an all-time low. That would usually indicate strong appreciation for home values as we move throughout the year.
Some experts, however, are not convinced the current rush of purchasers is sustainable. Ralph McLaughlin, Chief Economist at Haus, explained in their June 2020 Hausing Market Forecast why there is concern:
“The upswing that we’ll see this summer is a result of pent-up demand from homebuyers and supply-in-progress from homebuilders that has simply been pushed off a few months. However, after this pent-up demand goes away, the true economic scarring due to the pandemic will begin to affect the housing market as the tide of pent-up demand goes out.”
The virus and other challenges currently impacting the industry have created a wide range of thoughts regarding the future of home prices. Here’s a list of analysts and their projections, from the lowest depreciation to the highest appreciation:
CoreLogic: Year-Over-Year decline of -1.5%
Haus: Year-Over-Year decline of -1%
Zillow: Year-Over-Year change is forecasted to bottom out at -0.7%.
Home Price Expectation Survey: Decline of -0.3% in 2020
Fannie Mae: Increase of 0.4% in 2020
Freddie Mac: Increase of 2.3% in 2020
Zelman & Associates: Increase of 3.0% in 2020
National Association of Realtors: Increase of 3.8% in 2020
Mortgage Bankers Association: Increase of 4.0% in 2020
We can garner two important points from this list:
There is no real consensus among the experts.
No one projects prices to crash like they did in 2008.
Bottom Line
Whether you’re thinking of buying a home or selling your house, know that home prices will not change dramatically this year, even with all of the uncertainty we’ve faced in 2020.
How to Set Up a Backyard Movie Theater In Under an Hour
There’s nothing quite like watching a movie outside in your own backyard. Whether you miss going to the movie theater or you’re feeling nostalgic for retro drive-ins, you’ll love taking family movie night outside as the weather gets warmer. And DIY backyard movie theaters are actually pretty easy to set up yourself. You can do the entire thing in about 30 minutes if you have the right equipment (though keep in mind that a permanent installation will require a bit more work). “All you need is a portable projector to turn your own backyard into an outdoor cinema—any backdrop works in the dark… a kid’s tent, hanging a sheet, the wall, or even the ceiling of an overhang, says style and parenting influencer Alicia Lund. Ahead, learn how to ready your yard for movie night in just a few simple steps and watch Lund transform her own backyard into a magical outdoor theater to see how it’s done.
U.S. home prices grew 5.5% in April despite pandemic
The U.S. region that includes Colorado saw the strongest growth, with a 6.8% annual gain, FHFA saysJune 24, 2020, 12:25 pm By Kathleen Howley
U.S. home prices gained 5.5% in April from a year earlier as low mortgage rates and a shortage of listings boosted competition for properties and kept values growing even amid the COVID-19 pandemic.
Homebuyer Tips: Moving During Uncertain Times
Our country faces challenges all the time. Whether it’s a recession, natural disaster or, yes, even a global pandemic—no matter what’s happening in the world, life still happens. Today, many families find themselves needing to move at a less than ideal time.
Moving is always stressful, but moving while trying to navigate certain restrictions and safety regulations can quickly become an overwhelming undertaking. While many may attempt to reschedule their moves to less turbulent times, some families can’t delay the process. Maybe you sold your home before the pandemic hit and now are left to figure out the best move.
If you find yourself needing to move during these challenging times, here are some tips to make the process as smooth as possible:
Get Rid of What You Don’t Need
Decluttering and downsizing is something you should implement during any move, no matter the state of the world. Many of us have recently been spending more time at home due to stay-at-home order; use the downtime as an opportunity to go through your belongings and get rid of what you don’t use, need or want anymore. Don’t waste time and money by moving items to your new location that are just going to get tossed out soon anyway.
Go Virtual
The safety of your family should always be your top priority. Complete as many necessary tasks as you can virtually to avoid traveling when it isn’t safe to do so. Many real estate professionals have been offering virtual home tours during the pandemic, and this practice is something that is likely to continue moving forward. Communicate with your agent via video chat, phone and email as much as possible. Important paperwork and other steps involved in the closing process are often allowed to take place online during times of crisis.
Assess Your Financials
Any nationwide emergency will likely impact the economy, putting many Americans in a state of unease. Today, the country is facing massive economic upset and widespread layoffs; according to the National Bureau of Economic Research, the U.S. officially entered a recession this February. Before you fully commit to moving, make sure you understand your financial situation and what you have to work with monetarily.
Ask yourself: what’ll my income look like over the coming months? How much cash and credit capacity do I have? Do I have a plan in place to stay on top of my bills? With these answers, you can start to get a sense of how your budget will change and if you can afford a move.
Keep an Eye Out for Deals
Times of crisis can offer the best investment opportunities for those who are prepared. When the masses shy away from investing in real estate due to economic uncertainty, it might just be the best time to buy. When the housing bubble burst in 2008, most were running away from the market, but the smartest investors made tremendous deals during that time. Because real estate tends to slow in uncertain times, sellers are typically more willing to negotiate. Today’s mortgage rates are at a record low so, while it may seem stressful, now may actually end up being the best time for you to purchase a new home.
Do What You Can on Your Own
Services you might typically use like shipping and professional movers are likely to be disrupted along with most other industries. To avoid paying hefty service fees or endure long wait times, and to ensure the safety of your family and workers, you might consider tackling as much of your move on your own as you can. Consider doing your own packing and moving, and realize that if you’re shipping any of your belongings long distance they may take longer than expected to arrive. If you do need to pay for assistance, research different companies and ask questions about how their operations have changed during the pandemic.
Moving is no easy feat, especially when turbulent times put a strain on your plans. Do your research, educate yourself and make sure safety is your top priority!
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