Through a $1 million gift from the REALTORS® Relief Foundation, C.A.R. is offering disaster relief grants up to $2,000 per household to provide housing assistance with mortgage relief or temporary housing, such as payments on the mortgage of a primary residence that was burned in a fire, lease or rent payments on replacement housing, or payments to a temporary shelter.
Grant details:
Relief assistance is limited to a maximum of $2,000 per applicant household. The deadline for application submission is June 30, 2019, contingent on the availability of funds.
Assistance is for housing relief only; other expenses including mortgages on property other than a primary residence, vehicle purchase, rental, repair and or mileage are ineligible for reimbursement under this program.
Documentation requirements: proof of residency, proof of lease/ownership, proof of damage/loss.
One application per household.
Grants are available only for the applicant’s primary residence.
Recipients of other financial assistance (FEMA, charitable groups) are eligible.
If you are in the Los Angeles area, have any questions or Real Estate sales or financing needs, feel free to contact us www.crestico.com/contact
As we spend the last few days of 2017, Real Estate moguls and property managers can’t help but wonder what 2018 has in store. The home décor industry is also in an anticipatory mood for the coming year. 5 Home Building Trends for 2018 that Every Real Estate Needs to Know About For instance, home décor companies are brainstorming on new kitchen finishes and trendy paint colors for the New Year. The main reason why homeowners do a significant design remodel or engage in the construction of a custom home is to create a holistic personal space. This means that any home décor or remodeling firm should keep their consumers with the most current trend in the real estate industry. In this article, we will talk about the designs and decors in the home building industry that are going to revolutionize the real estate industry in the coming year of 2018.
Treatment and Finishes
Modern, sleek and aesthetic looks have taken over in the human life all thanks to technology. All these advancements have become a cliché, and now people want to get back to their original roots. Due to this fact, wood finishes will be a home décor incentive that no real estate firm should ignore in 2018. The home improvement décor may come in different forms including wooden plates, a rustic wooden lamp, a solid wooden table or exterior accents that are made from wood such as corbels, columns. The home designs of 2018 are likely to be all about wooden interior finishes and natural accents. Wood interiors compliment the desire by most homeowners to integrate with nature in today’s world where technology has almost made our lives artificial.
Iridescent Accents
While some owners plan on using earthly accessories to connect with the natural environment, there is a group of people who are willing to use the modern look of bright accents to embrace the future of home décor. Although lustrous accents give your home that aesthetic look that you are yearning for, it will cost you more than the available alternatives in the market. Most homeowners will prefer to start with a shiny tiled backlash or an iridescent pillow. This type of home décor is a mermaid-worthy look and is likely to gain traction in the future as homeowners are slowly embracing it.
More Open Spaces and Clean Lines
Even in traditional homes, spacious floors are becoming the trend going into the future. According to experts, the home construction industry is holistically becoming contemporary. Home builders are now focusing cleaner lines and the increased use of standing-seam roofs and Austin stone and doing away with turrets. Even the homeowners that chose to retain the traditional home exteriors have decided to go with open and modern concepts on their interiors. This always translated to tiny, wasted rooms and hallways. More usable space is still afforded by open floor designs to the dining areas and possibly to the living area. Designers have also brought the outdoors inside the home by the incorporation of more glass interior doors which are designed in such a way that they disappear after opening. As with any other system, efficiency is critical, and homeowners have realized that 100% of the floor space in their houses should be usable.
Geometric patterns
The day when geometric pattern designs would make a comeback in the home décor industry is finally here. These form of models can be seen in almost every part of the home area including in furniture and wallpapers. You can have the geometric pattern designs incorporated in your home using a wallpapered accent wall to give your house that new and fresh look. You can also make use of a new rug or some throw pillows to improve your aesthetic standing. If you are committed to having this new rend incorporated into your home, you can use a kitchen backsplash or a floor that is geometrically tiled. In 2018, this trend in home improvement will give a vintage and modern feel that anyone from any generation can appreciate.
The fact that Interest Rates have dropped to near historic lows as the rents continue to sky rocket in most urban set ups, buying a home seems to tilt the balance to its favor. The reports by Trulia also suggest that for renting to become cheaper than buying, the 30-year fixed mortgage must hit at least 5% in Los Angeles and 5.1% in New York City. However, the mortgage rate has hit a low of 3.17%, making the projection unattainable, at least in the near future.
As much as the statistics favor home buying over renting, for many Americans, the financial tradeoff may not be easy. Numerous advantages come with home ownership, not to mention the tax deductibles on your mortgage interests. But if you don’t carefully analyze your financial situation and make informed choices, home ownership can turn into a financial nightmare.
The most critical component of your decision-making process should be your financial stability. You need to ask yourself key questions like: How stable is your job? How likely are can you get a pay raise or promotion over the coming years? Is your job likely to shift locations or cities? How stable is your marriage or relationship? Is there a possibility of splitting up or divorcing that may occasion untimely disposal of the home? And so on. If the answer to one or more of your questions indicates doubts on whether you will maintain the house within the next five years or more, then it would be pointless to commit yourself, regardless of the mathematics.
Change of Cities
If the nature of your job or appointment involves frequent relocation or change of cities, you may need to evaluate between buying and renting. Many home owners have suffered the cost of servicing mortgages for homes they do not live in. They even spend more resources in renting homes in their new location. Their efforts to sell may be thwarted when the timing coincides with the market lows when the mortgage interest rates rise, wiping out their equity and savings.
Financial Situation
Many Americans are living under strenuous financial situation and may not be in a position to save enough for the down payment. You need to analyze your individual financial status. The ultra-tight Real Estate markets like San Francisco even make it harder for aspiring home owners.
Home Insurance Costs
It is important to know that homeownership doesn’t stop with the acquisition of the mortgage. You’ll need money to settle your property taxes, and the mortgage company will require a proof of home insurance policy. When you rent a house, your landlord will cater for propertyinsurance in addition to some utility bills like water, heating, or power. However, you may need to provide for your rental insurance, which is much more affordable. The policy still provides good benefits of homeowners’ insurance, except that it doesn’t cover the building structure.
Home Maintenance Costs
As a homeowner, you take responsibility for all your maintenance costs like fixing a leaking roof, the parading ants over your kitchen cabinets, broken toilet bowls, electrical breakdowns, and much more. And then there’s the dirty task of mowing your lawn, cleaning the compound, painting the walls, etc. When you decide to rent, most of these tasks will be done by the landlord or an appointed agent.
Bottom line
While it’s true that reduced rates are quite tempting to potential home buyers, you shouldn’t use the statistics to make costly purchases that could turn problematic. You can consider renting affordable housing alternatives like studio apartments as you put aside substantial savings for future investments. That way you’ll be able to make much larger down payment when the markets can’t offer better mortgage rates.
If you borrow less and give a huge down payment, the banks and the property sellers will prefer you over your competitors in a bidding situation. Additionally, your house will appreciate much faster in value as interest rates reduce, cutting down your financing costs.
A house isn’t just a place where you can walk around in your undies or for eating ice cream right out of the tub. A home aligns with your personality and your preferences. Every corner, crevice, and arrangement of rooms and beams all embody the homeowner and define how he/she lives. Finding the right property that offers adequate space and comfort, a good price point, and real value can be tricky, however, thanks to the dozens of property listings you’ll find in the market. Here are five tricks to knowing when you’ve found the perfect abode.
Define Who You Are
This doesn’t mean you should go on a self-discovery phase before finding a house. On a profound level, determine who you are as a person and as a professional. What career changes do you expect to encounter in a 5- or 10-year period? Are you planning to have children or pets in the house? Are you a gardener or a woodworker? Do you like throwing parties for friends and family or just enjoying weekends in peace and quiet? Knowing the answers to these questions will put you at a much better position to find a home that supports your lifestyle choices.
Know What Types of Housing Exist
Luckily, there are fewer housing types than there are personalities. Still, it makes sense to understand and embrace the different types of housing accessible today. Single-family homes, townhouses, and condominium units are three of the most popular types of housing. Townhouses are basically a hybrid between the more expensive single-family house and the least-spacious condominium unit. While condos are definitely a good investment, especially if you buy around business centers and well-developed locations, the idea of having neighbors around you doesn’t really appeal to some aspiring homeowners.
Consider Buying an Existing Home
Buying an existing house instead of having one built from the ground up is usually the more affordable and faster option on the table. Although it may not precisely match what house you envision for you and your family, being able to pick from a wide selection of houses that’s ready for you to move into is a decent trade-off. You can choose houses based on the included amenities, such as a garden, patio, or swimming pool, or even based on style. Some fleece covered furniture, for instance, might be preferred by buyers over wool or other materials.
Filter Choices Based on Pricing
Houses that align with your personality but cost too much are never a smart investment. Buy or finance housing that you are comfortable paying for over a stretched period of time. Narrow down your choices based on houses that meet your budget. Establish a ceiling and floor price range. When negotiating with sellers, try to keep the numbers from crossing the established ceiling and floor prices. If they cannot meet you halfway, then walk away. There’s always somebody else somewhere that could meet your budget requirements.
Ask Trusted Family or Friends to Help You
Who else to advise you on what would be the right home for you than trusted family members and close friends? These people have spent a considerable amount of time with you so they have a good idea of who you are and what you really want. In some cases, their suggestions might make even better sense since they’re able to make objective decisions. You, on the other hand, might be stepping too close to the project that you overlook some important details or refuse to consider some mitigating factors out of bias.
Finding the perfect home that matches your personality will take some degree of effort that few aspiring homeowners are genuinely willing to take. With the five simple tips above, you’ll be able to find a suitable home for you and your family without breaking the bank or compromising design and comfort.
In Gil Kenan’s 2006 animated film, “Monster House,” three puberty-stricken teenagers discover that a local bungalow, owned by crotchety old man Nebbercracker, is possessed by the vengeful spirit of Nebbercracker’s one-time bride. The youth realize that Nebbercracker’s trademark warning, “Get off my lawn!” is a veiled caution to keep away from the clutches of his vindictive house.
How many homeowners can empathize with old man Nebbercracker? Not for his jealous housewife, of course, but for the trap of home ownership. Research compiled by Trent Hamm at The Simple Dollar indicate that the average American household spends a whopping $17,000 per year on home ownership. Census figures reported by Terry Mulligan in his article, The Average Cost of Running a Home, estimate that monthly home utility, fuels and public services cost about $300.
No one magical solution can shrink the costs of home ownership. Instead, rescue $5 here, $10 there. You can improve your home’s energy efficiency, and here’s how.
Shop In a Different Aisle
Want to work smart, not hard? Go shopping. Seriously. Saving money can be as easy as spending it – provided you abide by these rules:
Purchase fluorescent or LED lights rather than traditional halogen or incandescent bulbs. According to research conducted by the U.S. Energy Information Administration (EIA), lighting accounts for 11 percent of the energy consumed by the average American home.
Choose ENERGY STAR-certified clothes washers, dryers, refrigerators, space heaters and window air conditioners. When using a window air conditioner, ensure that the unit is set to Recirculation mode.
Install window drapes or blinds to prevent solar heat gain during warm months and radiant heat loss during the cool season.
Hire a Contractor
Technically, if you want the most efficient home possible, you ought to build it. Use low-e argon-filled triple-pane windows, blown cellulose wall insulation, on-demand hot water heaters, rooftop solar panels, natural gas-powered clothes dryers, 3-foot roof overhangs, mini-split reversible A/C systems and so forth. Good luck!
Here in the real world, efficiency must balance cost. Sealing a drafty back door with a can of DOW Great Stuff expanding foam takes just $5 and five minutes. Recommended retrofits, as showcased in the case studies of Allyson Went’s Building Green article, “The Challenge of Existing Homes: Retrofitting for Dramatic Energy Savings,” include double-pane low-e windows, heat-recovery ventilation systems, passive solar thermal collectors and 16-SEER central A/C units.
Automate Electronics and Energy Systems
Purchasing energy-efficient appliances is sage advice. But here’s a dirty secret: Americans are using less energy for appliances and more for personal electronics. The television and entertainment system consumes about 6 percent of a home’s energy, says the EIA. Business laptops, personal smartphones, gaming PC’s, video game consoles and children’s tablets devour even more.
The obvious solution is to downsize. But what red-blooded American could scream and throw popcorn at an NFL game displayed one a pathetic 16-inch screen? There’s a better way: home automation.
Once the realm of science fiction writers, “smart” technology is now mainstream. The new wave of smart devices, like the iDevices Switch, allows homeowners to automate the use and charging of their appliances. Idevices Switch is one of many smart plugs on the market, most of which can be controlled with a smartphone app or platform hub such as Apple HomeKit, Nest Weave or Samsung SmartThings. Plug a device into Switch, and you can control it with a phone. So schedule your coffee in the morning. Activate the kid’s night light. Turn off the TV after midnight. Nice to be God, isn’t it?
Innovative companies have even created smart HVAC systems. Nest and Honeywell offer smart programmable thermostats that, when paired with motion sensors, determine acceptable temperature ranges depending on the weather and home occupancy. The Ecovent retrofits existing ducted A/C systems with programmable opening and closing air vents for a zoned heating and cooling system.
So start shopping. Pick up a hammer. Get geeky. You can escape the fiscal burden of home ownership – and you’ll save some trees while you’re at it.
