Real Estate Definition Essential Terms Everyone Should Know in order to understand the real estate process. Real estate has its own share of language and some of it is hard to understand. Learn your home buyer vocabulary before you start looking for your dream home.
Annual Percentage Rate (APR)
The annual rate charged for borrowing or earned through an investment and represents the actual yearly cost of funds over the term of a loan.
Private Mortgage Insurance (PMI)
Borrowers have to pay this when they take out a mortgage from a commercial lender and pay a down payment of 20 percent or less.
Adjustable-Rate Mortgage (ARM)
This type of mortgage allows the lender to change the interest rate at certain points during the term of the loan.
This type of mortgage is not guaranteed or insured by any government agency.
This type of loan has an where the interest rate doesn’t fluctuate during a “fixed-rate” period of the loan. This allows the borrower to accurately predict the amount of future payments.
Federal Housing Administration Loan (FHA Loan)
This type of mortgage is issued by an FHA-approved lender and insured by the Federal Housing Administration.
The amount charged on top of the principal by a lender to a borrower for the use of assets.
Whether your holiday of choice is Christmas, Hanukkah, or Kwanzaa there is a timeless joy to be found in taking a spin around the holiday light displays. There is a particular magic to those over-the-top holiday light displays created by someone’s next-door neighbor. Even better is a whole street made up of nothing but this kind of neighbor. LA County has plenty of these community treasures hidden in plain view; some of the top Christmas crowd-pleasers are listed.
Sleepy Hollow Christmas Lights – Robert Road, Torrance 90505 Also known to locals as “The Hole,” Torrance’s Sleepy Hollow neighborhood has been sending up flares for Santa for more than 40 years. Fans pour through nightly from Thanksgiving weekend until Christmas, and the best way to enjoy the vibe is to park outside the neighborhood and walk through. Kidpreneurs in other neighborhoods have their lemonade stands; the ones around here set up hot chocolate and candy cane stands on every block. Residents (some dressed as Santa) sit around their fire rings and wave at the holiday lights admirers, the most dedicated of whom could easily spend a couple of hours wandering the whole display. Parking options are best on either Pacific Coast Highway or Prospect. Robert Road is just north of Calle Mayor off PCH.
Candy Cane Lane – 1200 Acacia, El Segundo 90245 The eastern block of Acacia Avenue is announced by a Candy Cane Lane sign, marking a tradition of more than 60 years. Houses are alight with trains, reindeer, giant characters, and music, plus frequent appearances by Santa Claus in a covered sleigh at the end of the cul-de-sac. The lights are on by 6 pm (though most turn on at dusk); Santa usually sits down in his sleigh at about 7 pm. If you’re looking for the most holiday lights per square foot, Candy Cane Lane is your destination.
The street itself is closed to cars, making for a delightful, one-block family stroll, and parking is available throughout the rest of the (well decorated) neighborhood. The last night of the official display is usually December 23, keeping the street more private for the actual holiday
Candy Cane Lane – Lubao and Oxnard Streets, 91367 The Valley’s version of Candy Cane Lane can be enjoyed from the comfort of one’s car, but be prepared for traffic as the holidays draw closer. The group of homeowners on the four streets bordered by Oxnard, Martha, Corbin, and Winnetka collectively out-do themselves every year, and cars are drawn like kids to Santa. Visitors are encouraged to dim headlights on the eight-block stretch so that everyone can enjoy the holiday lights. The lights can generally be enjoyed from the second Saturday in December through New Year’s Day, though many homes start decorating Thanksgiving weekend.
Lights on Display – 3901 Longview Valley Rd., Sherman Oaks 91403 When a guy names his Christmas lights display and gives it a website, you know it’s worth the drive. Mike Ziemkowski mixes his film industry expertise and a love of Christmas to produce a display whose fame extends far beyond the San Fernando Valley: this house is the 2015 winner on the national reality show The Great Christmas Light Fight. The display goes way beyond lights; the timed show with music and motion is the sort of thing some places would charge admission for. The nightly show generally runs from Thanksgiving weekend through January 1, 5 pm-10 pm.
Mothers are always looking for buying the best things for their babies. Once you start looking for the right crib mattress, you are sure to be spoilt for choices. Many health-conscious parents wish to purchase non-toxic or organic crib mattresses for promoting a healthier nursery ambiance for their little one and give the baby a relatively safe start from the very beginning. There are certain significant features that include surface fabric, support, allergy considerations, breathability, and absence of harmful chemicals.
Examine the Surface Fabric Properly
Often crib mattresses have a nice and organic surface made of cotton but the materials that are used inside the mattress may not be organic and could prove to be toxic and hazardous for your baby. So it is best to buy crib mattresses that are totally certified by the GOTS or the Global Organic Textile Standard.
Organic crib mattresses could be waterproof or non-waterproof. Organic mattresses are different from the standard mattresses in terms of the high-quality, organic, and safe materials that are used for waterproofing and the organic fabric used on the crib mattress surface for your baby’s health and safety.
Waterproof crib mattresses are definitely more hygienic. They are easier to clean, require lesser maintenance, are spill-proof and deal with messes, allergens, and dust mites relatively better than standard ones.
Quilted surfaces are pretty common with normal full-sized mattresses, and there is no reason for them not to exist on baby-sized mattresses either. They are made of fabric and feel good to the touch but are not waterproof and can be a bit of a challenge to keep clean. If you are going for one of these, it may be a better idea to go for a waterproof organic protector crib pad, which goes a long way in making your job easier.
Check the Breathability of the Crib Mattress
Breathable mattresses and crib bumpers are very important for safety and also the comfort of your child. Flat and firm support is still the most important factor, but a breathable crib pad and mattress will maximize the airflow, keeping your little one well-rested and comfortable all night long. These crib pads are typically made from cotton fibers with a polyester mesh that allows air to flow beneath and around the baby for a much cooler mattress and dramatically improved sleep quality. You may browse through valuable resources such as https://www.countingsheep.net for important information on sleep issues, health, and mattresses.
Look for Crib Mattress Support
The most crucial feature of the baby’s crib mattress is a flat and firm support. Babies would be requiring a firm mattress. The mattress has to be firm enough to remain flat despite the baby’s weight on it. According to the crib safety tips provided by the ‘Consumer Product Safety Commission’, baby crib mattresses must be tight-fitting and firm without any comforters, pillows, or soft bedding items.
Ensure that the Harmful Chemicals Are Absent
Harmful chemicals could easily be avoided by choosing the organic and non-toxic crib mattress. However, you need to be alert because sometimes you could come across dangers where you are least expecting them. Consider checking if there are flame retardants or any other harmful water-proofing chemicals, adhesives or glues present in the crib mattress that you are buying for your little one.
You must always buy an organic crib mattress for your baby as they are chemical-free, non-toxic, hypoallergenic, breathable, and has much superior temperature control as compared to the standard mattresses. Moreover, you must choose an organic crib mattress for your baby because these mattresses are biodegradable and sustainable ensuring a healthy environment for your baby to grow in.
November 6, 2018 is around the corner and I am sharing two propositions affecting Real Estate properties with you.
California Proposition 5
Property Tax Transfer Initiative (“Prop 5”) concerns calculating property tax on owner-occupied replacement properties.
A “yes” vote on Prop supports amending Proposition 13 (1978) to allow homebuyers who are age 55 or older or severely disabled to transfer their tax assessments, with a possible adjustment, from their prior home to their new home, no matter (a) the new home’s market value; (b) the new home’s location in the state; or (c) the buyer’s number of moves.
A “no” vote opposes amending Proposition 13, 90 & 60, currently in effect, to change how tax assessments are transferred between properties for homebuyers who are age 55 or older or severely disabled.
California Proposition 10
Local Rent Control Initiative (“Prop 10”) concerns rent control for rental properties affecting tenants and landlords.
A “yes” vote supports allowing local governments to adopt rent control on any type of rental housing, thus repealing the Costa-Hawkins Rental Housing Act.
A “no” vote opposes the initiative, thus keeping the Costa-Hawkins Rental Housing Act and continuing to prohibit local governments from enacting rent control on certain buildings.
You can read more about each Proposition at the links below.
Read what they are all about. Make a decision and remember to vote! 🙂
Prop 5 is in addition to initial prop 13 voted in 1978, Prop 60 voted in 1986 and prop 90 voted in 1988
For additional info on prior propositions, simply google “California Prop” and the number and read all about it.