Wednesday, December 16, 2015

So 'the Fed' raised rates...but what does it mean?

The Fed’ raised rates ¼ point today.  What does it mean for real estate?

Not much, fortunately.

First, the market expected a rate increase…this was not a surprise…’the market’ was ready for it.

Second, the rate the Fed controls is an overnight lending rate…think 12 hours, while we mortgage lenders commit for 30 years so the two are relatively unrelated.  The rate on your credit card or HELOC may rise ¼ next month but rates on long term loans like mortgages don’t move in lockstep.  In fact, I wouldn’t be surprised to see lower rates in the next month or so…

Ultimately, an increase in short term rates will hurt the stock market and that will drive money back to bonds.  Also, long term bond buyers care mostly about inflation…if they don’t see inflation, they don’t care what the fed does and they will buy bonds, regardless.  More investors chasing bonds means lower bond/mortgage rates.

If you are on the fence, this may be the last opportunity to take advantage of the low rates before they do up. Contact me today for a free consultation and go over your options to purchase your next home.

Call me at 951-821-6683 or email me at jeff@jeff4homes.com

Jeff Menendez
Keller Williams Realty
Your Real Estate Consultant

Content Provided by

Craig Doty
www.craigdoty.com

Wednesday, December 2, 2015

Best Value in the OC

This Cozy Home Features 2 Bedrooms and 1 Bath. Tiled Floors, Kitchen Cabinets, Carpeting. It Has A Fenced Yard, Low Maintenance Backyard and Detached 1 Car Garage. Close To Shopping and Schools. Great Value for First Time Buyer. | Investors: P&I Around $1000/month and Rent For Around $1400-1600/month.


Click Here for More Details

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Monday, November 30, 2015

Land for Sale | Gavilan Hills | Near Lake Mathews

Enjoy The Seclusion And The Large Amount Of Usable Land With Some Trees, Flat Land, And Above All You'll Have Room For Whatever You Need As Well As Privacy. Can Also Be Used For Agriculture And/or Farming. The Property Is Located On Estelle Mountain Road Between Fire Ring Circle To The North & Vereda Real On The South, With Electricity Available At Either End Via Poles Running Both On The North And South Ends. The Property Lies On The West Side And Fronts On Estelle Mountain Rd.

There Is Well On The Property But It Does Not Have A Pump And Its Functionality Status Is Not Known, Buyer To Investigate. Take The Time To Check Out This Lovely Property In A Secluded Setting, Yet Centrally Located Between The 15, 215, And 91 Freeways.| From Lake Mathews Drive, Turn On Estelle Mountain Road, Go About 1.5 Miles South. Property Is Located On The Right At The Corner Of Fire Ring Circle And Estelle Mountain Road.


For more details Click Here

Wednesday, October 21, 2015

Real Estate | Back to the Future Edition

Today is a big day with Marty and Doc Brown travelling to the future or for us to today in the iconic 80's film, Back to the Future II.

Like many of you, I'm a huge fan of the Back to the Future trilogy. I loved the idea of time travel via a DeLorean. Like Doc Brown said "The way I see it, if you're gonna build a time machine into a car, why not do it with some style?"

I was always curious over the years about the story behind the homes used for the filming of Back to the Future. So lets take a look at 3 of them.

Marty McFly's real-life house is located at 9303 Roslyndale Ave Los Angeles, CA 91331 in Pacoima in the San Fernando Valley. The exterior of the home is exactly the same as the movie -- a modest 1950s style ranch house. With the unusual amount of power lines behind it, the view isn't exactly the best. But the home has its stucco charm -- Spoiler Alert, the interior did get an upgrade with the new reality when Marty returned from 1955.
Marty Mcfly's House, Credit: Ian Fish/Flickr



In movie, Marty travels back to the 1950s only to encounter his parents as teenagers. And to Marty's embarrassment, finding out the 'true story' to how his dad was hit by his father in law's "to be" car. The exterior house shots of Lorraine's (Marty's Mother) childhood home were filmed at 1807 Bushnell Ave in South Pasadena, Ca. Today, just as the other home, the house looks the same as it did in the movie. The lawn might be smaller in size, but the landscaping around the home makes up for it. Side note: The exterior shot houses of bully Biff are also on the street as well. 


Credit: Tony Hoffarth/Flickr

Marty's friend and time travelling inventor Doc Brown house is fascinating.


Doc Brown's house has a lot of history to it, as the 3-story building is a National Historic Landmark & a California Historical Landmark. Designed by architects Charles Sumner Greene and Henry Mather Greene in 1909, the house was constructed for David and Mary Gamble (a second generation family member of the Gambles of Procter & Gamble) in Pasadena, California.

"The Gamble House is considered by many to be one of the crowning achievements of the American Arts and Crafts movement, it combines Japanese design aesthetics with a variety of natural resources. There are several types of wood used throughout the house, including teak, maple, oak, cedar and mahogany all juxtaposed to contrast the differences between the material. In 1956, the Gamble house was given to the city of Pasadena and the University of Southern California School of Architecture."

Credit: Tony Hoffarth/Flickr


The interior shots were filmed at The Blacker House, which was also designed by Greene and Greene in the same style as the Gamble House. The Gamble House was unavailable for interior filming at the time.

The Gamble House was only featured in the 1950s scenes, as told by the Film, it burnt down at some point in the 1960s. On the property, there is also a garage built in the same style as the house. To show the garage in 1985, a facade was built next to a Burger King. When comparing the movie garage and the real one, they look pretty much the same. The only difference is the movie facade looks dingier.


Sunday, August 23, 2015

El Niño Is Coming - 5 Ways to Get Your House Ready

A lot of us know that El Niño means little boy in Spanish, for long time European soccer fans like me we know him as Fernando Torres, some may know him as Chris Farley from a SNL skit.
Its now a virtual consensus by the meteorologist/climatologist that El Niño has the potential to become one of the most powerful on record. So what is El Niño and how does it affect those living Southern California (including the Southwest, Southern U.S.)

Relative to California, El Nino is weather phenomenon that occurs every few years where there's warmer than average waters in the Eastern equatorial Pacific Ocean off the coast of Central and South America. When this occurs, like in some of the bigger occurrences in 1982-83 and 1997-98, it brings a lot of rain to California. 

While this is great news for California's drought, it also means mudslides, flooding and more. 

Now is the best time to start preparing your home for potential record breaking rainy season. So here are some tips to get your home ready.
  1. Check Your Roof
    Its recommended that you check your roof twice a year and this time its no
    question it should be done. Best to hire a professional roofer to inspect the roof properly, last thing you need is to call the roofer as your home is being flooded and your belongings being damaged. Who knows when the roofing company can make it to your home during the rain storm.
    Also check rain gutters, make sure the pipes from the rain gutters are clear.
  2. Check your Trees\Vegetation around the Home
    Trim the trees around your house. Thin out the branches and remove all dead limbs. Weight from it could bring limbs or the tree down with heavy
    winds/rain. Especially if the tree is over or adjacent to your home. This process can be dangerous so be sure to hire a landscaper or tree professional. If you have a slope behind your property, good idea to hire a professional to assess and take preventative measures from any type of landslide or mud flows. Also clear out vegetation that could clog drainage.
  3. Clear Drainage
    Speaking of drainage, check all drainage from your backyard, you can simply pour some water into it and see if it comes out to the street. Or hire a plumber to inspect the drain pipe, make sure its clear. Important as to prevent flooding, not only water entering your home, but could also damage the home's foundation.
  4. Sandbags
    I know sounds crazy to think about this now, however if your neighborhood has a history of flooding, it doesn't hurt to be prepared by having sandbags at your disposal. Once a storm is headed your way, you're not out with the masses and waiting who knows how long to get your sandbags filled.
  5. Check Your Insurance
    Last on my list, but very important. Check your Homeowners Insurance. Make sure there's adequate coverage, like floor insurance. Take pictures of all your valuables and big items of your home. Take stock of approximate cost of them. I would suggest you upload all that info into the cloud like dropboxgoogle drive or any other cloud service of your choice.
Hope this helps, never too early to get prepared, based on previous El Niño, it tends to start raining around November with the peak around January/February.

Feel free to share other tips to get ready for the season.