May 2017

There are 36 blog entries for May 2017.

The real estate market has picked up after the period in which doom and gloom reigned supreme. Last year, 1,226,000 new homes were built, outpacing 2007 numbers. And if we take a look at the latest survey from Houzz, we notice that more than a half of homeowners plan to take on renovation this year.

What is more, they aspire to conduct multi-room projects and invest more money than before. Americans are poised to spend near-record $317 billion on home improvement. Decorating is still the most prominent undertaking, but renovating does not lag far behind.

Spending on an upswing

 

Last year, there was a 22% increase in spending on renovations compared to 2015. This upward trajectory is expected to continue in 2017 and beyond. Baby boomers

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FIRST TEAM’S WEEKLY MORTGAGE WATCH (May 28th, 2017) THIS WEEK HIGHLIGHTS THE FOLLOWING UPDATES:

  • Housing came into focus last week, revealing that inventory levels helped pullback Existing Home Sales by 2.3%. 
  • At the current rate of sales, there are only 4.2 months of supply, which is considered below the optimal level of about 6 months of inventory. 
  • GDP numbers were adjusted upward more than expected, with 1st quarter GDP now sitting at 1.2%, a fair increase from the initial 0.7%. 
  • The minutes from the Fed’s last meeting also revealed more optimism for the economy. However, even with all the upward pressure that rates should be experiencing, they managed to decrease slightly.
  • This holiday-shortened

This Memorial Day Weekend we celebrate the men and women who paid the ultimate price for our freedom. Live up to your American dream by remembering and making good on your homeownership goals with a trip to open houses in Orange County

 Orange County

View all First Team Orange County Open Houses

Make the most of your home search this weekend by teaming up with a real estate agent. Search for an agent on our site or reach out and we’ll match you up with an agent today to be house hunting with you tomorrow.

Email us at clientservices@firstteam.com

Call us at 888-870-1142

HOME BUYER TIP: De-stress this summer buying season with Events in Orange County, June 2017. House hunting, budgeting, and negotiating can get tedious. Don't forget

With Monday off for Memorial Day, there's plenty of time to visit open houses in Los Angeles County this weekend. Before the BBQs and special commemorations begin, get in your house hunting.  

LA COUNTY

View all Los Angeles County Open Houses

If you’re going shopping for a home this weekend, the smartest plan is to have an agent by your side. An agent can help you act fast when you find the perfect home, and answer all of your burning home buying questions. If you have questions before you head out or would like to team up with an agent, find a First Team agent online or reach out and we’ll match you with a top agent near you.

Email us at clientservices@firstteam.com

Call us at 888-870-1142

HOME BUYER TIP: Interested in checking out

Make the most of the long holiday weekend and visit open houses this Saturday and Sunday in Riverside and San Bernardino Counties. That still leaves all day Monday for BBQing and mulling over your next real estate move. 

RIVERSIDE COUNTY

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SAN BERNARDINO COUNTY

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If you have any questions about open houses, the real estate process, or your local market, just ask a real estate agent. It’s literally their job to help you find a house and some happiness at home. Search online for an agent near you or contact us and we’ll match you with an agent in your area.

Email us at clientservices@firstteam.com

Call us at 888-870-1142

HOME BUYER TIP: Know what not

It's summertime and the livin's easy in LA with dozens of events in Los Angeles County this June 2017. Whether you're looking forward to nerding out at E3, filling up at LA Dessert Fest or busting a move at Arroyo Seco Weekend, there's tons of fun waiting.

Outdoor Movies

Street Food Cinema

streetfoodcinema.com

These Saturday night movie events include a live music, movie and food trucks.

June 3rd: Rogue One: A Star Wars Story @ Victory Park Pasadena
June 3rd: 500 Days of Summer @ Will Rogers State Historic Park at Pacific Palisades
June 10th: Beauty and the Beast @ Park Center, Griffith Park
June 10th: Purple Rain @ Poinsettia Rec Park, West Hollywood
June 17th: Raiders of the Lost Ark @ Eagle Rock Rec Park, Eagle Rock
June 17th: Hocus

The best kind of festival is a summer festival (in our humble opinion), and this June there are TONS going on across Orange County. From free concerts to carnivals and beer festivals, this summer has so much to offer. Check out the list of events in Orange County this June 2017, pick your favs, and start preparing for summertime!

Summerfest Brea 2016

Friday, June 2nd – Sunday, June 4th
summerfestbrea.org

Over the past 30 years, SummerFest has grown to become the largest community event in North Orange County. The 3-day carnival with food, family, live music and fun is one of the largest community events in North Orange County. Bands performing this year will be Mick Adams & The Stones, as well British Rock Royalty (a tribute to The Who, Queen,

Spring buying season is upon us; an exciting time for homebuyers who are ready to make the real estate plunge. Mortgage rates have remained steady and low (about 4%) according to the lastest Weekly Mortgage Watch, providing more buying power for today's house hunters. However, there are a few key things buyers need to be prepared for in order to make the most of this exciting real estate season. 

Underestimating the competition

Demand is up and inventory remains below average. In real estate, demand is generally judged by months of available inventory based on closed sales.  A normal or neutral market has 3-6 months of inventory. Determining a buyer's vs. seller's market therefore is whether that inventory is above or below the norm. 

According

If you have recently purchased your first house and it's a fixer-upper, then you're probably excited about putting your personal stamp on your home. Renovations allow you to design a house that fits your needs and personality, while also improving the overall value. However, watch out for the four following pitfalls that can destroy your budget, and the ultimate plans for the house.

Spending Too Much on Low-Impact Pieces

You will want to carefully budget before beginning your renovation, making sure to budget for around 15 to 20 percent more than the hard numbers that you give any contractors you hire. However, even within these increased budgetary strictures, you may find that it is quite easy to overspend in certain rooms.

While it can be good

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FIRST TEAM’S WEEKLY MORTGAGE WATCH (May 21st, 2017) THIS WEEK HIGHLIGHTS THE FOLLOWING UPDATES:

  • Despite some strong economic data, mortgage rates were unable to move upward, last week. 
  • Industrial Production leapt upward by a solid 1.0%, the largest increase in over three years. 
  • While Housing Starts did slip slightly, homebuilder confidence remains very high. The LEI also increased another 0.3%, notching its eighth consecutive increase. 
  • However, it seemed that every news cycle was dominated with trouble for the new presidential administration. It appears that the probability of many of the “pro-business” legislative actions is getting pushed further out with each new revelation.
  • This week is