39 minute read
5 things you need to know about repurposing real estate in Placer County, by John Brophy.
5Things You Need to Know About Repurposing Real Estate in Placer County
By John Brophy
Simply put, the remaking of a building to fit some other purpose other than why it was built, is a beautiful innovation. For one, it is a more economic and sustainable option to meet novel housing needs, compared to constructing new buildings. Besides, although nerve-racking, it gives one an edge over the competition. And with the changing landscape of the real estate, it just might be one of the best things to consider to make the most of investments.
Realtors have noted that the South California real estate stock is presently experiencing an annual drop due to the COVID-19 pandemic. Interestingly, it has been identified that this state has pulled the attention of people to technology and entertainment, providing real estate investors in South California an opportunity to repurpose and benefit from the unique growth capacity of the economic base.
THINGS YOU SHOULD CONSIDER BEFORE REPURPOSING REAL ESTATE PROPERTY
Given that recent happenings - such as the Covid-19 pandemic - are leading to shifts in demand, repurposing your property might be your top consideration to maximize profit. Nonetheless, no matter how good or necessary an idea seems,
you must examine it thoroughly to avoid taking reckless risks. That is because not every great thing will work for you.
So, here are five essential factors you should consider before embarking on repurposing projects:
l The economic viability of the project l Environmental sustainability considerations l Proper collaboration with the public sector l Location, demand, and local infrastructure l Incorporating Flexibility
Let’s look at these in detail.
l THE ECONOMIC VIABILITY OF THE
PROJECT
The chances a repurposing proposal has to thrive is an essential factor you must pay proper attention to. You may even have to hire an experienced realtor to check out the feasibility of the project - and whether it is something you can sell or rent at a competitive and profitable rate. Because if it’s not going to be viable on the market, what’s the point? l ENVIRONMENTAL SUSTAINABILITY
CONSIDERATIONS
To guarantee a future-proofed atmosphere for a repurposing program, you must be willing to contemplate sustainability. As the world is generally going greener, you must have a fool-proof plan to implement sustainability best practices within your project design. l PROPER COLLABORATION WITH THE
PUBLIC SECTOR
For a successful repurposing of real estate, a project must have the local administration’s support. Ensure that you have any required permits and are willing to meet any local regulations as you consider whether or not to repurpose. l LOCATION, DEMAND, AND LOCAL
INFRASTRUCTURE
What will work in Orange, for instance, might not work in San Bernardino. You have to analyze the location of your property, and how that would affect demand. Also check out available local infrastructure: will it prove helpful if you were to embark on repurposing?
These issues are germane to determine if a repurposing project would succeed - and how well it would. l INCORPORATING SUFFICIENT
FLEXIBILITY
The long-term accomplishment of repurposing projects should be easily adaptable to subsequent changes in the market. If you choose to invest in one, you must continue to think creatively and flexibly, to ensure that the project adapts to a frequently fast-changing market force.
CONCLUSION
Repurposing real estate is now becoming a trend, heightened by the impact of the recent pandemic on consumer behavior. Nonetheless, and like all other trends, it is essential that you adequately evaluate what it would mean for you before jumping on the boat.
Want to Relocate?
Maybe you should consider these 5 neighborhoods in Corona, CA.
By Kamesha Keesee
Corona, Ca is a city in Riverside County, California. As of 2020 census data, the city had a population of 157,136 up from 152, 374 at the 2010 Census data. The city is located along the western edge of Southern California’s Inland Empire region commonly known as “Circle City” due to the Grand Boulevard. It is one of the most residential cities in the Inland Empire
Corona, CA is the 13th best place to raise a young family in Riverside County, according to Niche.com. With a population of more than 163,000— an increase of 8.7% from 2010— living in Corona comes with a dense suburban feel that makes the place lovable. Another interesting thing about Corona is that most of the families and young professionals who reside tend to be liberals. While Corona has an overall grade of B, A- in public schools, and A+ for diversity according to Niche.com, which are its best neighborhoods for young homeowners? Below is a list you should consider:
1SYCAMORE CANYON PARK. With an overall Livability Score of 87 out of 100— according to AreaVibes.com— Sycamore Canyon Park is among the best places for young homeowners to live in Corona. The neighborhood features crime rates 8% lower than the Riverside average, while its cost of living is 17% lower than the Riverside average. Moreover, Sycamore Canyon Park real estate prices are 46% lower than the average home prices in Riverside, according to Areavibes.com.
2RANCHO SANTA MARGARITA. According to Areavibes.com, Rancho Santa Margarita is 86% family-friendly, 64% walkable to grocery stores, 93% pet-friendly, 100% quiet area, and has a 71% sense of community. The neighborhood has a population of about 49,000, from which 54% are kids below 18 years of age, while the area’s median age is 36.8. The neighborhood also comes with a livability score of 83, which is considered exceptional. Moreover, the cost of living in Rancho is 15% higher than the average in California, as its real estate prices are 43% higher than the average real estate prices in California.
3MISSION VIEJO. With a population of about 96,000, and a median age of 44.2, Mission Viejo is also among the best places to live in Corona for young homeowners. The neighborhood also features a livability score of 79%, and an 18% higher cost of living compared to the average in California. Mission Viejo’s real estate prices are 49% higher while its rental prices are 54% higher compared to the average in California. The neighborhood is 1005 family-friendly, 55% walkable to grocery stores, 91% pet friendly, and has a 64% sense of community, according to Areavibes.com. 4VILLA PARK. Villa Park features a livability score of 79%, a crime rate 70% lower than the average in California, a 2.5% unemployment rate, and a cost of living 59% higher than the California average. Moreover, real estate prices in Villa Park are 152% higher while rental prices are 125% higher than the average in California.
Villa Park is also 100% family-friendly, 100% walkable to grocery stores, 100% pet-friendly, 100% walkable to restaurants, and 100% sense of community.
5YORBA LINDA. With a B+ score in employment and a livability score of 80%, Yorba Linda is definitely an ideal place for young homeowners. Crime rates in the neighborhood are 65% lower than the average in California, while the cost of living is 26% above the average in California. The neighborhood is also 75% family-friendly, 75% pet-friendly, 83% quiet area, 75% sense of community, with 75% friendly neighbors. Real estate prices in the area are 78% higher than the average in California, while rental prices are 37% higher than the California average.
Other excellent neighborhoods in Corona, CA that are also perfect for young homeowners include Newport Beach, Aliso Viejo, la Palma, Laguna Niguel, San Clemente, and El Cerrito.
Did you know that Corona means Crown in Spanish?
Want to hire a contractor?
Watch out for these red flags in Long Beach
By Kate Nash
Because the success of your home-building and improvement projects significantly depends on the competence of your contractor, hiring the right contractor is necessary. If you’re reading this, you may either want to build a home from scratch or consider a home renovation.
Finding a contractor isn’t hard, but hiring a good one can be frustrating and nervewracking. Would you like to hire an incompetent contractor that could turn your idea into a nightmare? If not, how do you identify the right one for your project from a plethora of contractors? If you seek an answer to the question, you are in the right place. This guide will show you the five basic red flags you need to consider when hiring a contractor.
1. AUTHENTICITY OF INFORMATION
To avoid falling into the mousetrap, verifying the contractor’s identity should be one of the key red flags for which to watch out.
Before hiring a contractor, you need some information to confirm his identity. Information such as name(real/business name), office address, phone contact(that is registered with the business bureau), previous projects completed, e.t.c. will guide you to determine if the contractor is indeed competent or a mere imposter. Also (unlike the unverified contractor), if the contractor defaults, legal actions will be easily taken against him since his identity is known.
2. POOR COMMUNICATION
Effective and timely communication is one of the characteristics of a good contractor. A good contractor communicates openly and honestly. S/he gives clients insight into the advantages and disadvantages of a chosen solution to achieve the desired goal of the project. Whenever a contractor lacks this attribute, hiring such a contractor is like putting fire on the roof, he/she might turn your project into a nightmare(what you never wanted).
3. EXCESSIVE UPFRONT PAYMENT
In the name of trust and materials procurement, several construction companies demand an upfront payment. However, that doesn’t imply you pay every dime before the work begins. Only a certain percentage(preferably below average) should be paid upfront while the balance follows. But if the contractor requests the full payment or more than average, an explanation is necessary. You might consider another option if the reasons are made up.
On the other hand, some construction companies can even trick you into getting your jobs by offering low bids initially. When the work then nears completion, some additional costs will be added that might even be more than the initial payment. Though their work may look professional and satisfactory, such red flags should be considered if you want a long-term relationship with the contractor.
4. LITTLE OR NO REVIEWS
When was the last time you got a gadget without checking the reviews? Quite a while, right? The same applies when you want to hire a contractor. A trusted way of hiring a competent contractor is through recommendations from friends, neighbors, and previous people that have worked with him. Reviews serve as a measuring scale to filter out the good contractors. The more, the better. Contractors with few or no reviews are not likely to have enough experience. Hiring such contractors might be risky, so you might want to stay away.
5. LOW ESTIMATE
Before contacting a construction company, try all you can to gather information about the market value of some of the materials you would use. If the contractor’s bid is lower than your estimates(market value of materials), it is time to ask some additional questions.
Questions such as who bears the cost of the extra expenses should arise.
Notwithstanding, it is advisable to choose a contractor whose bid is within your estimate. A proven means to know an incompetent contractor is through estimates. Beware of a contractor that provides quotations that are not reasonable.
CONCLUSION
Hunting for a competent contractor has never been easy. While there are a lot of Mr. Wrongs, there are few of Mr. Right. To save time and money, consider the above red flags whenever you want to hire a contractor.
Your Ultimate Guide to Downsizing in Sacramento in 2022
By Serina Lowden
Let’s agree on one thing, having a large living space is a great experience, but it does come with added costs of maintenance and this at times may pose a huge financial burden to many people. If you factor in the kids, the burden might quadruple. Yes, you may need the space to accommodate the family, but if the kids are clearly out of the picture, it wouldn’t make sense holding on to the big house. It’s time to think about downsizing.
If you feel overwhelmed in your current large space, downsizing can be a great move both mentally and financially.
And while good, downsizing often means sorting things out that have accumulated over the years which is not a fun experience because then you’ll have to decide what to keep and what to throw out. Anyway, let’s not deflect…. Downsizing is a good option that will save you. SO, how do you make sure you’re doing it right? The process may not be a walk in the park, but there are plenty of tips that you can borrow to make it easier and do it right.
Start as soon as possible: if you are thinking downsizing, stop thinking and get right at it. Remember that there isn’t a golden rule for when you are supposed to start preparing for your downsizing process, although some like to put it at least 3 months prior. However, the sooner the better. Start the process as soon as possible to give yourself room and time to sort through your house slowly and carefully without getting overwhelmed.
Starting the downsizing process early gives you enough time to keep your home free of clutter and things you no longer need using your preferred organization method. Some of the most popular organization methods include One-A-Day method, KonMari Method, Four-Box method, and the Closet-Hanger method. No matter the method you choose, the aim is to find a balanced workflow and end up with items you actually need.
Deal with one step at a time: like i mentioned before, the process isn’t simply as walking out of a large space into a smaller room! It takes a lot more than that. As such, I suggest dealing with one step at a time. The thought of decluttering your whole home may seem overwhelming. You’re more likely to easily handle the whole process if you divide it into multiple and more manageable sub-tasks. You should also consider creating a schedule broken down into the identified sub-tasks or by rooms to ensure you stay on track without getting overwhelmed. For example, you can break down the project into the sub-tasks as shown below:
l Sort through your DVDs and video games. l Separate your clothes and shoes you plan on giving away from those you want to keep. l Put small kitchen items in one place. l Deal with your dresser drawers.
How much space do you need for your next
home? To make this process a success, you need to determine how much space you need for your new home. Ideally, find out how many square feet and shape of every single room so that you can easily figure out the kind of furniture you need and the kind to throw out before moving in. If you don’t have the accurate measurements of your new house or haven’t identified a new place yet, focus on sorting through the things you need and those you don’t.
Contemplate your new lifestyle: Ideally, i think one of the primary reasons why many people will want to downsize is to change their lifestyle. As such, in as much as we want to find out how many square feet we need for our new home, it is equally important to really think about the essence of this move. What are you gaining by downsizing? In other words, consider not just what item will physically fit in your new space, but also if they will fit into your new lifestyle in your new space. Downsizing presents an excellent opportunity to reset and revamp, and you shouldn’t miss taking advantage of it.
Consider selling or donating the non-
sentimental items: For the non-sentimental items you don’t plan on moving into your new home, consider selling them to help you settle some of your moving costs or get new items you need such as for décor. Plenty of online marketplaces such as eBay and Craigslist are in place that will make selling your items online easy. On the other hand, if you lose interest in some items as you approach your moving day, consider donating them to the nonprofits and charities that accept and pick up home items and clothing including Goodwill, Salvation Army, Habitat for Humanity, The Arc, among others.
The process of downsizing doesn’t have to overwhelm you anymore if you follow the tips discussed in above.
5Ways You Could Save on Home Insurance in Chula Vista
By Serina Lowden
Owning a home is already expensive as it is, therefore, if there is a way to save on this cost, I think everyone would welcome it. Therefore, in this article, we are looking at some of the ways you can save on home insurance.
While it is not everyone that subscribes to the idea of purchasing a home insurance policy, it is highly essential (if you’re a homeowner) that you find out whether or not you’re spending more than you should on your home insurance. Knowing this will help go a long way in cutting costs, and you would be glad you did.
Now let’s take a closer look at the ways you could reduce your costs in insuring your home. Provide the insurance companies with more security: This provision is practically one of the best ways to save money. Do well to strengthen your home security so that security breaches become less rampant. Then you would not have to spend so much on getting it insured.
You can fix a smoke detector in your home, some deadbolt locks, and even a burglar alarm system. Doing any of these would surely save you as much as 5% of what you would spend on insurance.
Shop around for more options and discounts:
You can’t always expect the insurance company agent(s) to tell you about every discount package they’re going to offer you. There are other
discount options for some special people, and you should ask if there are any. If you qualify for any less popular discount option, then why not? That’s a big plus on your part.
Check your Deductibles… if possible increase them: That is another one of the best ways you can bring down your insurance expenses. If you get your insurance deductible increased, there’s a certain amount of money you would be saving monthly compared to when you don’t.
Take home improvement seriously… pay for them! Giving your home some extra touches is not - and can’t ever be - a bad idea. That is especially so if there are some necessary changes or adjustments that need to be made. It is always advisable that you have your home improved or upgraded because there are some insurance-related discounts attached to it. Improvements such as window shutters, better roofing, electrical system upgrades, and plumbing adjustments will make your home easier to attract these discounts because by then, it would become less vulnerable to damage.
Forego High-risk Options: A lot of the time, we are attracted to spending money on something we may not need. Just because something is very attractive does not mean we should go ahead and spend big on it if we’re not going to need it. For instance, if all your kids are all grown up, you may not need to have a trampoline on your property. Having a trampoline would add more to your insurance plan, and that would cost extra money.
Also, if you won’t be needing a pool, you should not entertain the idea of having one because it also attracts charges.
Final Words
Always remember that even if you can maintain high-end insurance costs, you could always cut these costs so that you can cover some other expenses. When you follow the steps listed above, you would surely get better at having more money aside for other things.
How to Make a Good Offer on an Overpriced Home in Riverside
By Briana Frazier
Ifeel the last quarter was one of the busiest winter months we’ve seen in like never! And the reason I say this is because traditionally we know that winter months are a slow time for the real estate industry. Ideally, it is expected that the market will continue with this trend going into the spring season which is worrying to many buyers looking to get their first or second homes. For a fact, we know that the market is operating at all-time highs, the mortgage rates are rising which means many people are looking to get into the market right now just to take advantage of the low rates. In such a frantic market, it is easy to panic and lose focus on the bigger picture. When you panic, you get intimidated, thinking there is nothing for you. Soon enough, you get out of the market. You don’t want to do that! Right now, many sellers are receiving countless offers, with the typical home staying on the market for an average of 26 days. so, how do you make your offer stand out?
First, find out how other homes are selling in the same market. We know that sometimes the seller’s asking price can be ludicrous, but don’t
let that get into your head. It is important that you first make your comparison with other houses in the area. Your agent can be in charge of making those inquiries. They will get you the exact statistics needed to decide if the home is worth the amount on the table. For instance, if the house you want is priced at $700,000 and similar houses in the area have sold for $550,000 - $650,000, you can use that as an opening point when making your bargain.
The other factor that you need to consider is how long the house has stayed on the market. I mentioned that the typical home is staying on the market for an average of 26 days. Normally, If a house is overpriced, it is more likely that it will be in the market for a lengthier period than expected. That is a great way to know if a house is overpriced before moving in with your offer. The only situation in which that will not be the case will be if the owner luckily finds a buyer with more money on their hands at the time. Naturally, people will do their homework, and because they deserve to get equal value for their coins, they’ll pass on such offers. That can turn out in your favor because if the property has been on the market for longer, then the seller’s determination will begin to wane, and they will become more open to considering your offer at the very least. On your part, exercise diligence and this calls for strong negotiation skills. Ideally, I advise my clients to ‘play it cool… do not show so much interest, even though you are interested.’ but I understand this might not work anymore in today’s market. But, traditionally, this aspect is a well-known purchasing trick, particularly in the world of real estate. For something as sensitive and essential as a house, you have to be careful not to let your emotions get the better of you in the seller’s presence. If the seller knows they have you booked, there is a slim chance of getting a good offer on your part. The trick is to seem not too interested and, with this attitude, check the house and neighborhood thoroughly. This way, the seller knows that they cannot get you on your emotions and will be willing to negotiate further with you on your terms.
lastly, be patient! You are already paying too much to blow your chances by hurrying things up. When moving in to make an offer for your potential new home, you have to be patient because the seller will most likely not accept your offer at the first meeting. Doing your background research with the pointers listed above may take some time, but it will give you a high chance of getting that house. You may need to go back and forth on pricing with the seller until you both agree.
Remember, many people back out of such deals because they do not wish to offend the seller - but do not hesitate to negotiate your price with the seller if yours is fair enough, and you can convince the seller that you are the best fit for that house. Sometimes it goes beyond just the asking price. Other factors can contribute to getting an initially overpriced home for a great amount, and you just might be one of those lucky people if you play your cards right.
CFPB Targets Unfair Discrimination in Consumer Finance
The Consumer Financial Protection Bureau last month made some changes to its supervisory operations which will better protect families and communities from discrimination, including situations where fair lending laws may not be applied.
In a press release dated March 16, 2022, the agency states that it has changed its approach towards the examination of banks and non-banks to closely scrutinize discrimination practices. The announced changes are very significant as stipulated on CFPB’s newly updated exam manual for evaluating unfair, deceptive and abusive acts and practices (UDAAPs), both unintentional discrimination practices and practices that fall outside the scope of the Equal Credit Opportunity Act (ECOA)now may be held to meet the criteria for “unfairness.” this announcement represents a substantial expansion of the agency’s authority to police practices deemed as unfair and discriminatory.
CFPB highlights that consumers can be victims of discrimination whether its intentional or not. Still, a practice may be deemed as discriminatory in nature as determined by ECOA as well as instances where ECOA does not apply. For instance, denying access to checking account because the individual is of a particular race. This could be unfair to the victims even in instances where ECOA may not apply.
CFPB also clarified and outlined the scope of the new supervisory practices and the expected steps examiners will conform to so as to uphold this new mandate. The agency stated that it will examine for discrimination in “all consumer finance markets, including credit, servicing, collections, consumer reporting, payments, remittances, and deposits.” It is expected that examiners will require covered companies “to show their processes for assessing risks and discriminatory outcomes, including documentation of customer demographics and the impact of products and fees on different demographic groups.” in addition, the press release also stated that it will look at how companies test and monitor their decision making processes for unfair discrimination, as well as discrimination under ECOA.
The following are instructions from CFPB to examiners to determine whether;
The entity has a process to prevent discrimination in relation to all aspects of consumer financial products or services the entity offers or provides, which includes the evaluation of all policies, procedures and processes
for discrimination prior to implementation or making changes, and continued monitoring for discrimination after implementation.
l The entity’s compliance program includes an established process for periodic analysis and monitoring of all decision-making processes used in connection with consumer financial products or services and a process to take corrective action to address any potential
UDAAP concerns related to their use, including discrimination. l The entity has established policies and procedures to review, test, and monitor any decision-making processes it uses for potential UDAAP concerns, including discrimination. l The entity has established policies and procedures to mitigate potential UDAAP concerns arising from the use of its decision-making processes, including discrimination. l The entity’s policies, procedures and practices do not target or exclude consumers from products and services, or offer different terms and conditions, in a discriminatory manner. The entity has appropriate training for customer service personnel to prevent discrimination.
Additionally, examiners will also now test to determine whether;
A product is targeted to particular populations, without appropriate tailoring of marketing, disclosures, and other materials designed to ensure understanding by the consumers.
l The entity improperly gives inferior terms to one customer demographic as compared to other customer demographics. l The entity improperly offers or provides more products or services to one customer demographic as compared to other customer demographics. l Customer service representatives improperly treat customers of certain demographics worse or provide extra assistance or
exceptions to customers of certain demographics. l The entity engages in targeted advertising or marketing in a discriminatory way. l The entity uses decisionmaking processes in its eligibility determinations, underwriting, pricing, servicing or collections that result in discrimination. l The entity fails to evaluate and make necessary adjustments and corrections to prevent discrimination.
The new rules stresses CFPB’s commitment to strengthening enforcement of the fair lending issues. The new changes will certainly increase the potential that an examination might find ‘unfairness’ if discrimination conduct is found to exist. The Agency will now place its renewed focus on discriminatory conduct, and covered entities should review their policies and procedures in advance of future examination.
A Tough Time For Lenders as Homes Sell Faster Than Ever Before!
Ididn’t think that two year into the pandemic we’d still be seeing crazy bidding wars! It sure seemed as if people would cave in to the fear of the pandemic, may be slow down to see how the health crisis plays out. Contrary to that, the market was frantic! It defied all odds resulting to a near market crash situation (which by the many experts believe that is a possibility).
Still people are crazy abut homes, there are bidding wars everywhere, buyers are competing against well established cash Investors for homes, while some are looking for units in some unfamiliar places. On the other hand, builders are feeling the pressures in demand and cannot find enough materials for everyone who wants a home.
When you look at the median prce for a home in America, you start getting a clear picture of what’s happening. For the last 12 months, the price has been up nearly 20 percent. The for sale inventory is at a new low. Many would be buyers are left on the sideline hoping for a miracle to happen and while so doing, they have also directly driven up the rents instead. All the markets seem chaotic at the moment and all of this seems unsustainable- a tight market, wild home price growth and dwindling affordability.
And the bad news is that no reprieve is coming, at least not anytime soon. It seems that home prices will kkeep on rising as people who have waited long enough for prices to come down are jumping into the market due to fear of missing out on good prices now!
According to Jenny Schuetz, a researcher at Brookings Institution, the current situation we are seeing right now is far from being a bubble. It’s all about market fundamentals. “It really is about supply and demand — not enough houses, and huge numbers of people wanting homes.”
a report from the National Association of Realtors now confirm that more than 6 million existing homes sold in 2021, this is the highest number of units sold In that category since 2006. and while that was a significant number, it
was well short of satisfying the available demand. What’s worrying is the fact that the nation is still relaxed in its efforts to correct this imbalance between supply and demand.
“My pessimistic view is that the economy is perfectly capable of running with unaffordable housing,” said Daryl Fairweather, the chief economist at Redfin.
It makes a lot of sense… if anything, the housing agencies in the country were well aware of the dwindling supply of homes in the last decade, but did nothing. That didn’t stop the economy from growing. That alone was a recipe for the disaster we are seeing right now.
“Another way to phrase that is people will still get up and go to their jobs, even if they’re housing insecure,” Ms. Fairweather said. “That’s one reason to think we’ll still just keep letting this problem get worse.”
earlier last month, Redfin released a report that shows that three out of five homes that went under contract found a buyer within two weeks! This is an all time high and comes at the same time as supply shrank to a new low.
Sellers who got into the market enjoyed the biggest premiums ever seen with the typical home selling for 1.1% above the list price. Last year, at the same time, the typical home sold for 0.3% below the list price.
“Homebuyers are in a frenzy,” said Redfin Deputy Chief Economist Taylor Marr. “Buyers are reacting to changes in mortgage rates but are so far unfazed by the war in Ukraine, stock market volatility and rising oil prices. However, these risks are reaching levels that could be dangerous for the economy, and the Fed is on the cusp of raising rates further to cool inflation. The silver lining for housing is that the spike in mortgage rates has paused for now.”
So, what can be done? For now, more construction is needed. However, it is important to applaud the home building sector as it has been increasing its output for some time now, but since the nation has been underbuilding for so long, it will take some time to remedy the situation.
Still, there are chances that many buyers will give up and get fed up with the soaring prices. That may be true for the local, but many new buyers coming from other places where prices are much higher see the local listing prices as reasonable, which upsets the balance.
Buyers today have a lot of competition sources to grapple with. For instance, first timers have to compete against global capital, all cash iBuyers, institutional investors renting single family homes, small scale investors looking for Airbnbs… its crazy!
“It’s really hard for an owner-occupier to compete with the amount of money that’s flowing into this region,” said Dan Immergluck, a professor at Georgia State in Atlanta.
It is also important to recognize the fact the the pandemic did a lot of reshuffling to the market where people didn’t have to go to work, but worked remotely. At some point, may be in the mid term, this geographical reshuffling of the workers will cool down, this might calm prices down in some places. But, investors are not going anywhere and neither is the technology that enables faster transactions.
Going into the year, the rising mortgage rates should help slow the prices down. And while that may be good news, rising interest rates will not in any way affect the all cash buyers. In fact, higher rates will make owning a home much less affordable.
Who stands to loose? First time buyers who will find it extremely difficult to get a home. And in the meantime, they will be forced to pay higher home rents which cripples their ability to save for a down payment. The working class families that were on the closing in on homeownership before the pandemic will now need at least five to ten years just to play catch-up. “As a housing economist, it’s kind of depressing to think that there may not be an undoing of the hardships that have been brought upon young households trying to get their foot in the door of the housing market during the pandemic,” Ralph McLaughlin, the chief economist at Kukun, a company that tracks real estate investment activity.
Unsurprisingly, the ravaging effects of hardships in the housing market are remarkably widespread. The last time such as home price growth occurred was during the precursor years of the financial crash of 2008. but even then, during the height of the bubble, only about 40% of the metros experienced greater than 10 percent annual home price growth. In the last 12 months, 80 percent of the metros have seen such spikes. A quarter of all metros have had price increases of more than 20 percent.
Note whatever happens in the single-family market has a direct impact on the rental market too. Since prices have risen significantly in most metros, this has affected the rental market quite significantly. In 2021, many communities in the country experienced a double-digit rent growth. The good news however is that, whatever is happening to the markets right now is not rooted to the risky borrowing that inflated the housing bubble in 2006-08. what are seeing now is a market flush with capable buyers who had a chance to save more money during the pandemic lockdowns. Many have strong credits and are using conventional loans, if at all they are taking any loans. The rental market on the other hand is flush with households that experienced a rise in higher incomes too.
Finally, it is important to call out the local governments who have stymied new housing supply with the zoning and building restrictions. This will remain a problem even when the demand – supply chain is at equilibrium.
About Autism Awareness Day
According to the CDC, 1 in every 59 people in the country suffer from Autism Spectrum Disorder (ASD). About 2 percent of the U.S. population is on the spectrum which means there are high chances that your colleague at work will be neurodiverse thus thinks differently from others in your organization.
In 2020 alone, CDC approximated that 1 in 54 children in the country was diagnosed with Autism Spectrum Disorder (ASD)
To break this down further; 1 in 34 boys was diagnosed with ASD. And 1 in 144 girls was diagnosed with ASD.
This shows that boys are four times more likely to be diagnosed with Autism than girls. While in most cases diagnosis of Autism occurs after 4 years, children can be a screened for this disease as early as when they are 2 years old.
31 % of children that have been diagnosed with ASD have an intellectual disability where their IQ is less than 70, while 25% of these children fall on the borderline. 44% of the diagnosed children have an IQ score in the average of more than 85.
April 2 will be the day the world will come together to observe World Autism Day. a time when people from all over the world join hands together and share as one the colors of blue, red, yellow, and purple that reflect the uniqueness and complexity of the Autism spectrum.
Surprisingly, not many people know about this condition, or how to cope with it whenever they come across an autistic kid or adult. Therefore, there is no better way to celebrate this year’s World Autism Day than becoming aware of the characteristics portrayed by autistic people. This way, we can all partake in the process and do better to increase our knowledge and promote kindness.
WHAT IS AUTISM
Autism Spectrum Disorder, better known as ASD does not refer to a single disease or disorder per se. Rather, ASD is a range of conditions. These conditions share some commonalities, such as some degree of impairment in the social behavioral interactions, communication, and language skills, and also, a narrow range of interests and activities both unique to the individual.
A child with Autism tends to grow with the disorder into adolescence and adulthood. In most cases, children start showing signs of Autism during the first 5 years of their lives.
Usually, autistic children also exhibit other co-occurring conditions including epilepsy, depression, anxiety, and attention deficit hyperactivity disorder (ADHD). And like we mentioned before, the level of intellectual capacity varies significantly extending from profound impairment to superior levels.
CAUSES AND CARE FOR AUTISTIC PEOPLE
Most of the studies that have been conducted on this subject point to many factors that cause ASD including environmental and genetic factors. There is no evidence suggesting any childhood vaccine may increase the risk of ASD. some studies that had been conducted before showed there was a causal association between measles, mumps, and rubella Vaccine and ASD, but these studies were nullified as they were filled with methodological flaws.
In the early formative years of a child, it is crucial to promote the right environment for the optimal development and well-being of an autistic child. Constant monitoring of the development of these children is a part of the routine.
Once an ASD child has been identified, it is important to offer the necessary support systems, with a special emphasis on the child’s primary care; parents. They must be offered relevant information, services, referrals, and practical support each according to their individual needs.
Till now, there’s no known cure for ASD. but, a
child could largely benefit from evidence-based psychological interventions such as behavioral treatment and skill development training for both the child and its primary caregivers. Doing this consistently will help reduce difficulties in communication and social behavior.
The health care needs for autistic people are complex and require a range of integrated services. This will ultimately include health promotion, care, rehabilitation services, and collaboration with other sectors such as education, employment, and social care.
AUTISM IN ADULTHOOD
In the next decade, an estimate 707,000 to 1,116,000 teenagers will enter adulthood and will age out of school-based autism services. Most adults with autism do not receive any healthcare support for years after they stop seeing a pediatrician. More than half of young adults who suffer from ASD tend to remain unemployed and unenrolled in higher education in the two years after high school.
According to data from Autismspeaks.org, of nearly 18,000 people who have been diagnosed with ASD and who use the state-funded vocational rehabilitation programs in 2014, only about 60 percent left the program with a job. Of the 60 percent, 80 percent worked part-time earning a median-weekly rate of $160, which meant, most of them were well below the poverty level.
“Nearly half of 25-year-olds with autism have never held a paying job.
Research demonstrates that job activities that encourage independence to reduce autism symptoms and increase daily living skills.”- Website, AutismSpeak.org
OBSERVING WORLD AUTISM DAY
Go out on April 2nd and share some information online about this great day. Today, even though many people have access to the internet, not so many people are aware of Worl Autism Day. on April 2nd, why don’t you become an ambassador? Share information about Autism or Autistic children and educate the masses.
Another way you could be a part of this day is by getting involved with autism associations. There are so many people who either have a family member with autism and are part of a communitywide, nation-wide, or even global-wide association. Reach out to them and get involved in the activities they have planned for this day.
Show kindness to autistic people. This is a perfect time to have a good time with your friends who have been diagnosed with autism.
Home Ownership
by Eric Lawrence Frazier MBA
Home ownership brings stability to individuals and families who have never had a dwelling place that they could call their own. There is something special about owning real estate that is unlike anything else on earth you can own.
Real Estate you own is not like cars that decay over time and you have to replace them. Real Estate you own is not like clothes that go out of style and you have to buy new ones. Real Estate you own is not like expensive vacations or experiences that only last a moment in time. Real Estate you own is not like an apartment where the landlord may increase the rent until it’s no longer affordable. Real Estate you own is not like staying at your parents house where you know can’t stay forever.
Home ownership is the beginning of wealth that increases over time and becomes your estate & legacy Home ownership is the pride of a mother nurturer and the kitchen her domain Home ownership is the pride of a father provider and protector of his territory and family. Home ownership is the foundation of permanence and the place where life happens, birthdays celebrated, deaths mourned. Home ownership is the place you build memories that can never be taken from you. Memories etched in walls and concrete, experienced in rooms and floors, Memories living in trees and shrubs planted by your hand. Howe ownership is the manifestation of you - your style, your colors, your smell, your stuff, your junk, your memories, your yard and your spaces, your life.
It’s the height markers on your first child’s bedroom wall. It’s the hearts drawn in the concrete slabs when you pour your patio floor It’s the birthday parties, and anniversaries in the living room and kitchen. It’s the back yard barbecue with friends, neighbors and family contentions it’s the high school and college graduation, and wedding receptions Its’ the family nights and block parties and the fellowship of family connections
Home ownership
It’s more than real estate. Land, brick and mortar, wood frame construction and chicken wire. It’s more than money saved, gifts recieved and grants obtained It’s more than the debt you incur to buy it. It’s more than the payments you make to own it. It’s more than the appreciation that comes with keeping it over time. It’s memories, it’s family, and it’s life that can happen in one place Until you say it’s time to move.
