To Buy or To Rent? Wealth Comes With Home Ownership.

The True Cost of Not Owning Your Home

There are great advantages to owning a home, yet many people continue to rent. The financial benefits are just some of the reasons why homeownership has been a part of the long-standing American dream.

Realtor.com reported that:

“Buying remains the more attractive option in the long term – that remains the American dream, and it’s true in many markets where renting has become really the shortsighted option…as people get more savings in their pockets, buying becomes the better option.”

Why is owning a home financially better than renting?

Here are the top 5 financial benefits of homeownership:

1. Homeownership is a form of forced savings.
2. Homeownership provides tax savings.
3. Homeownership allows you to lock in your monthly housing cost.
4. Buying a home is less expensive than renting.
5. No other investment lets you live inside of it.

Studies have also shown that a homeowner’s net worth is 44x greater than that of a renter.

A family that purchased a median-priced home at the start of 2019 would build more than
$37,750 in family wealth over the next five years with projected price appreciation alone.

Some argue that renting eliminates the cost of taxes and home repairs, but every potential renter must realize that all the expenses the landlord incurs are already baked into the rent payment – along with a profit margin!

Bottom Line

Owning a home has many social and financial benefits that cannot be achieved by renting. Let’s connect to determine if buying a home is your best move.

Our Sweet Loving Santa Clarita Valley Home Sales Activity

Inventory is dropping, 15% less this month than last. But, home sales are still strong.

That darn 325-ish sold in 30 days number is still happening!!

Acton, Agua Dulce, Canyon Country, Fair Oaks Ranch, Saugus, Valencia, Newhall, Castiac, & Stevenson Ranch.....all included in my information to you.

Yes, we're not just about houses!

 I'm looking forward to hiking with my eldest son again soon,

 and SCV has tons of beautiful trails!

Oh, wait, back to your homes sales activity....

*We currently have 490 active homes, condos, townhouses, for sale. Last month was 571.

*We currently have 413 in escrow. Last month was 484.

*Closed in the last 30 days? 304. Last month was 322.

We've had a lot of rough days out here in the last couple of months, but it's still a most beautiful place to live. Just ask me, I've been here for almost 3 decades & have been helping people buy & sell homes for almost 2 decades.

Yup, I love SCV!!! #SantaClaritaStrong

Ah, The Realtor Life!

I'll admit it, sometimes I just don't want to talk to the other agent. But, I always at least respond when they text/call/email me. Always.

Working with an escrow right now that the buyers agent and/or the buyers have been difficult with communication since the beginning. Some people are just like that, right?

Now, of course now, as Contingencies are due to be removed, the agent is barely responding...if at all.

Yep, that's pretty much what it feels like.

So, what do we do in this instance? You can call the other agents broker, but that's just like tattling. The right thing to do is what's called the Notice to Buyer to Perform. It's actually part of the initial contract. If either party is not performing, doing their contractual obligations, the other party may cancel...but first must provide the Notice to Perform.

I don't like using it, as generally no one really wants to cancel. So, it feels like a false threat & can put a bad taste in a persons mouth for the rest of the transaction. And, the time it takes to actually cancel a contract, it doesn't happen immediately. The other principle has 2 days to respond to the notice and then escrow has to draw up cancellation instructions. AND then, all parties have to sign it. Honestly, by that time the party that was not doing their part has to sign the escrow doc, they actually have done their contractual obligation. But, we do it to remind people they signed a contract and to adhere to it.

I'll likely be having my seller sign one this evening.....since the buyers agent hasn't responded to me for several hours.....not even a courtesy text that she's working on it. Oh, wait....while typing this....she just texted me back!!! And, blamed her clients for not responding. Who knows!

#RealtorLife

Moving To Another State? How To Find A Great Realtor To Help You?

Um, hello? Ask me!!! 

So, anyone that knows me knows I'm all over Social Media. Facebook, Twitter, Instagram. LinkedIn, Google My Business, Yelp, YouTube, Blogger. I am able to keep in touch with a lot of my peeps, share my listings, educate my followers, AND, meet other Realtors Out....Of.....State!

So, let's say you are considering moving to Oklahoma? Maybe Colorado? Well, most of my clients that have left California, recently Idaho seems to be the big winner!

At any rate, how do you find a good Realtor in the area if you don't know anyone there? Let alone, let's say two of your new city friends have referred a Realtor to you and you're not sure which one to choose?

Aha, little ole me, who's been helping people Buy & Sell homes for almost 2 decades knows the right questions to ask the prospective Realtor in your next home town, so you get the best...well 2nd best since you're leaving me.....agent to help you find your new home and represent you in the way you've become accustomed to.

And, you know what else? Even if I'm not helping you in Kentucky or New Mexico....if I help you interview & hire your agent......that agent will be much more amenable to keeping me in the loop and answering my questions about your home purchase. 

I've got clients right now that are just moving further north. I helped them find a Realtor, she's sorta like me, but ....again...no one is me.....so I've been on the phone, email, text, with their new agent and helping my current clients through any trials they are having because....you know why? Because my clients trust me. Why? Because they know what kind of Real Estate agent I am, and they know they can completely trust me.

Don't trust the choice of a Realtor for one of those big family decisions by looking online. Ask your trusted Realtor, the one you know, to help you. Trust me, I'm happy to do so.

The Home Warranty ~ Sellers? Definitely Worth It For Your Buyers!

How Long Do Home Systems and Appliances Last? Thanks to One of My Favorite Home Warranty Reps.....

Here's Your Answers!

Today’s appliances are more efficient, harder working, quieter, and have many more features than their older counterparts. These efficiencies and features also come with a cost, however: these appliances don’t last like they used to.

So how long should your appliances and home systems last? Well, first consider that different brands (like cars) are more reliable than others. Then factor in how often you use them. A stove that you use only to boil water or for holidays is likely to last longer than one working every day to feed a large family.

That said, regular care and maintenance of appliances and systems can also help extend their life. And for those times when things fail unexpectedly, a home warranty can help protect your budget from costly repair or replacement.

Average Life of Home Appliances and Systems

Here are some of the most used home appliances, how long they can typically last, according to the National Association of Home Builders (NAHB), and what you can do to help them last longer.

		Average life in years*	Average replacement cost**	Average repair costs**
	Refrigerator	13	$2,819	$981
	Oven	13-15	$2,935	$851
	Washer/Dryer	10-13	$1,203	$628
	Dishwasher	9	$1,207	$503
	Water Heater (Tank)	10	$1,600	$860
	Central Heating	15-20	$2,753	$684
	Central Air Conditioning	15	$2,989	$706

Refrigerator

Your refrigerator is one of the most expensive, hardest working, and often-underappreciated appliances in your home. Some types and brands of refrigerators may last only about 10 years, while others can run for 15 years or more. Cleaning your refrigerator’s condenser coils can help your fridge run more efficiently.

Did you know that while people love icemakers, this is the feature most likely to break in a refrigerator? In fact, refrigerators with icemakers are twice as likely to break down.

Oven/Range/Stovetop

Your oven is typically one of the longest lasting appliances in your kitchen. A gas oven or range will generally last about 15 years, while an electric one will last a few years less. Regular checks and simple maintenance can keep your oven looking and working its best.

Dishwasher

Expect to get about 9 years out of your dishwasher. How to extend its life? Remove food scraps, plastic bits, bones, or anything else that could clog the filter or drain lines. Regularly keep the filter clean. Wait to run full loads instead of more frequent smaller loads.

Washer and Dryer

You should expect to get about 10 years out of your washer and a few more years than that out of your dryer. You can definitely help extend the life of your washer by keeping your machine balanced, avoiding overloading, and making sure you use the right type and amount of detergent (more is not better). For your dryer, clean the lint filter after every use, and clean dryer ducts annually.

Water Heaters

Tankless water heaters last more than 20 years, while an electric or gas tank water heater has a life expectancy of about 10 years. Most manufacturers recommend regular maintenance, including flushing gas or electric water heaters to help it last and work its best.

Central Heating and Air Conditioning

Central heating and air conditioner systems generally last between 15-20 years. Proper maintenance and changing air filters regularly can help keep your HVAC system running smoothly for as long as possible.

Protect Your Budget with a Home Warranty

When you buy a home, you don’t always know how old your appliances are, or how well they’ve been maintained. A home warranty can protect your budget from unexpected repair or replacement costs.

And You Thought Negotiations Were Over.....Hah!

I know, I really shouldn't even consider smirking about this subject....but today I am.

Working with great Sellers, Buyers, Buyers' Agent, and Lender....we still have negotiations that can get parties a bit edgy until completed.

The infamous Request for Repairs in California Real Estate transactions....

There were negotiations for Sellers & Buyers to come to an agreed upon price and open escrow. Those can be trying enough.

All properties in California are sold AS-IS, right? Well, yes.....and, no.

The California Association of Realtors purchase agreement: CONDITION OF PROPERTY: Unless otherwise agreed in writing: (i) the Property is sold (a) “AS-IS” in its PRESENT physical condition as of the date of Acceptance and (b) subject to Buyer's Investigation rights

So, what exactly does that mean? It means the buyers have every right to do an inspection to verify that the condition of the home is acceptable to themselves.

And, it means the buyer can certainly ask the seller to repair/correct/replace some items. They can ask for a credit, or even reduction of purchase price. They can ask for all kinds of things.

Now, what's the Sellers responsibility when they get a Request for Repairs? They can completely ignore the request. But, no one really does that. 

Herein are the secondary negotiations in a home purchase. And, sometimes they can be extremely challenging.

Seller feels one way, Buyer feels another. Their respective Realtors, with all the experience, have to guide them through these additional negotiations so that everyone feels they have been treated as fairly as possible. Sometimes there are several addendums and new requests before finally an agreement can be reached. Once that is completed, you can move forward with your escrow. 

If not, poof! Your escrow will most likely be cancelled and you have to start all over again. Caveat to that? Whatever came up in the first buyers inspection report now has become a disclosure item to the next buyer.

My suggestion is always to come to terms. Your home isn't perfect. The buyer wants to feel like you've addressed their concerns. Give a bit, get a bit. Move forward to your goal. Sell your home or buy your home.....that's been the goal for both Sellers & Buyers.....Let's Do This.