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Real Estate is a LIFESTYLE

  Real Estate is indeed a lifestyle.  From contemporary layouts & interior design/decor, the rise and fall in economic markets, turn key and rehab properties - to know & understand the grit of real estate is to love what it represents.  Home.  Value.  Wealth.  Security blanket.  Personal accomplishment.  
Enjoy the information on this site, and refer your family and friends to indulge in Real Estate Culture!

***OPEN HOUSE*** Home 4 Sale -  Don't Miss Out on this Gem! #realestate #homeownership

3/17/2017

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Welcome home to this 3 bedroom, 1 bath ready to move in home.  With just over 1100 s.f. of living space, this gem offers a living room that opens into the dining room, with a spacious kitchen and bathroom.  The laundry room can fit full size appliances.  The master bedroom leads to the indoor patio space; and the outdoor patio has plenty of room for entertaining.  The front yard has drought tolerant landscape and the backyard is full of grass that has been well maintained.  There is also a 2 car garage in the back, and it has been converted into a studio apartment with a full kitchen and bathroom.  This home has been updated with copper plumbing.

OPEN HOUSE SHOWING TIMES:
- Saturday, March 18th & Sunday, March 19th from 1pm - 4pm (PST).
13212 Mettler Ave.
Los Angeles, CA 90061
LISTED BY:  Felicia Jones, Realtor
Keller Williams Realty, BRE# 01977033
Ph:  310-900-9984
Email:  homesbyfelicia@kwrealty.com


List Price:  $370k
Property Type:  Single Family Residence
3 bedrooms, 1 bath
1,107 s.f. // 6,426 lot s.f.
Built:  1947
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Caring for Wood Siding #homeimprovements #realestate

3/10/2017

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Souce:  HouseLogic

To enjoy wood siding's beauty for a lifetime, maintain it properly and diligently.

Wood siding is one of the most beautiful of all types of siding -- and one of the most expensive.  If you'd like to avoid repairs that could cost thousands of dollars, and you'd like to keep your clapboard, shingles, or board-and-batten lasting for decades, regular upkeep and maintenance is critical.

FINISH, PROTECT WOOD SIDING
Wood must be properly finished with a paint, stain, or clear sealer.  Left unprotected, it's susceptible to rot and decay caused by moisture.  Of special concern is the fact that wood expands and contracts with normal changes in humidity and temperature.  These fluctuations may cause paint finishes to chip and crack, and over time puts stress on caulked seams around windows, doors, and at corners.  If the caulk separates and fails to keep out moisture, wood rot may develop.  Even species of wood that have a natural resistance to rot, such as redwood, cypress, and cedar, may decay if not properly protected from the elements.

Paint comes in unlimited colors and can be changed at any time.  A house with wood siding must be repainted at least every five years, or as soon as the paint finish begins to deteriorate.  A DIY paint job requires about 60 hours of labor.  A professional crew will paint a two-story, 2,300 sq. ft. house for $3,000 - $5,000.

Stain is a good choice for wood because it allows the beauty of the grain to show through.  Stain penetrates wood fibers and helps seal them against moisture; it's also resistant to the cracking and chipping that affects paint.  Because stain is a penetrating sealer - not a coating, like paint - it's difficult to change the color of previously stained wood.  Staining a house is less labor-intensive than painting because prep work is minimal.  Expect to pay $2,000 - $4,000 for a pro crew to stain a two-story, 2,300-sq. ft. house.  Using a rented paint sprayer, a two-person DIY team can re-stain a two-story house in 4-5 days for about $500, including the stain.

Clear sealers prevent moisture damage and allow wood to retain its natural color, but they must be reapplied at least every two years.  Clear sealers are formulated to help slow the process that allows ultraviolet light to turn wood silvery gray.  However, all natural wood, regardless of species, eventually turns gray when exposed to years of sunlight.  Using a rented paint sprayer, a two-person DIY team can refinish a two-story, 2,300 sq. ft. house in a 3-day weekend for about $500, including the finish.

CLEAN STAINS ON WOOD SIDING
Dirt is the most common cause of discoloration on wood siding.  Clean annually using warm, soapy water and a soft-bristled brush.  Divide your house into 20-foot sections, clean each section from top to bottom and rinse before moving on.

Mildew appears as black spotty stains.  Clean the area with a solution of one part bleach to four parts water.  Wear eye protection and protect plants from splashes.  Rinse thoroughly with clean water.

Rust stains often appear as dark black splotches and vertical streaks.  They're usually caused by a metal fastener, such as a nail or screw, that wasn't galvanized.  Contact with moisture causes the fastener to oxidize, leaving streaks.  To remove the stain, dissolve 4 oz. oxalic acid (available at hardware stores and home improvement centers) in 1 cup warm water.

Wear eye protection and acid-proof gloves; avoid splashing the mixture onto adjacent surfaces.  Apply the mixture to the stain and gently scrub with a soft bristle brush.  Rinse thoroughly with water.  Refinish the spot if necessary.  Problem nails must be replaced with a galvanized or stainless steel fasteners.

RESTORE THE COLOR OF NATURAL WOOD SIDING
Siding that has discolored with age can be restored to its original color by applying a wood cleaner or brightener.  These products often are intended for use on wood decks, but they work well on natural wood siding.  They're available at hardware stores and home improvement centers.  Follow the manufacturer's instructions.

REPLACE WOOD SIDING
Replace wood siding that show signs of damage.  The most common damage comes from accidentally hitting the siding with sticks and stones thrown from a lawn mower, or from objects, like baseballs.  Occasionally, wood siding may crack due to changes in atmospheric moisture.  Repairs to wood siding require the expertise to remove the damaged siding while leaving surrounding siding intact.  Unless you have the skills, hire a professional carpenter or siding contractor.  Expect to pay $200 - $300 to replace one or two damaged siding panels.

PREVENT DAMAGE TO WOOD SIDING
A house with wood siding is most vulnerable to water infiltration where siding butts against windows, doors, and corner moldings, says Frank Lesh, a professional house inspector in Chicago and past president of the American Society of Home Inspectors.  Look for caulk that has cracked due to age, or has pulled away from adjacent surfaces, leaving gaps.  Reapply a color-matched exterior caulk during dry days with temperatures in excess of 65 degrees F.

Lesh also stresses that no bush, tree branches, or shrubbery be allowed to touch the house siding.  Foliage conducts moisture that can find its way into cracks and tiny openings in siding.  "You should have enough room to comfortably walk between your house and many plant materials," he says.

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What Happened to Black Home-Ownership? #realestate #wealth #asset

3/10/2017

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Source:  Mortgage News Daily

Home-ownership by black Americans has "declined to levels not seen since the 1960s when private race-based discrimination was legal."  Like most demographic groups, black Americans saw homeownership gains evaporate during the housing crisis, but that community was hit harder than other groups and have not benefited as fully from the recovery.

The authors of a new Urban Institute blog research piece say that, in the three decades following passage of the Fair Housing Act, black homeownership rose by almost 6 percentage points, reaching 47.3 percent, but from 2000 to 2015 the rate dropped to 41.2 percent.  This happened through forces both within and beyond the housing market.

Black home-buyers bought homes at the peak of the bubble at higher rates than whites and Asians and often did so using subprime loans even though they qualified for prime loans.  Two percentage points of the 6 percentage point slide happened from 2000 to 2010, the remainder happened in the following five years, three of them while the recovery was underway.  White and Hispanic home-ownership dropped less from 2000 to 2015, and home-ownership rose for people in other racial groups (mainly Asian Americans).

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Consumers Turn to Non-Banks for Mortgages #homeownership #realestate #finances

3/10/2017

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Source:  Washington Post

More borrowers are choosing non-banks - financial institutions that only issue loans and do not offer savings or checking accounts - to get a mortgage.  It's a major shift in borrower behavior.  In 2011, 50 percent of all new mortgage loans originated from the three largest banks:  JPMorgan, Bank of America, and Wells Fargo.  However, in September 2016, that share plunged to 21 percent.

During that time, non-banks emerged as six of the 10 largest lenders by volume, including Quicken Loans, loanDepot, and PHH Mortgage.  In 2011, only two of the 10 largest lenders were non-banks.

Some traditional banks have backed away from the mortgage business after financial regulations were put in place following the last housing crisis, says Meg Burns, managing director of Collingwood Group.  That has opened the market to non-banks.  "The regulatory atmosphere changed from a risk management regime to a zero-tolerance and 100 percent compliance regime,"  Burns says.  "Not only were new regulations implemented, but new regulators like the Consumer Financial Protection Bureau were created. At the same time, the CFPB and other agencies became more assertive in their enforcement practices."

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Why New Homes Are About to Get Pricier #realestate #homeownership

3/10/2017

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Source:  Builder

With the cost of building materials jumping 25 percent year over year, according to the National Association of Home Builder's NAHB/Wells Fargo Housing Market Index, builders are increasingly concerned about how this will affect home buyers in the new-construction market.  In 2016, builders ranked the cost of building materials low on their list of concerns - but now it's one of their top five.

The increased cost of lumber is a chief catalyst.  "Negotiations on a new softwood lumber agreement between the United States and Canada ground to a halt at the end of 2026 and likely are stalled pending the results of an investigation into unfair import practices requested by the U.S. Lumber Coalition," the NAHB reports.

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What Home-Buyers Wish They'd Known #homeownership #realestate

3/9/2017

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Source:  NerdWallet

Nearly half of American homeowners recently surveyed said they would do something different if they were to go through the home-buying process again, according to the NerdWallet's Home Buyer Reality Report, which analyzed the steps more than 2,000 Americans took to homeownership.

What Are the Top Things Consumers Say They Regretted?

- 20 percent wished they had saved more money before buying a home

- 13 percent would do more research on the mortgage-lending process

- 14 percent would have shopped around more for a mortgage

- 13 percent would research the home-buying process more

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Spring Housing Already Overheating #realestate #homeownership

3/9/2017

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Source:  CNBC

The spring housing market started early this year, not because of higher-than-average temperatures but because of hotter-than-average demand and overheating home prices.

"This spring housing market is shaping up to be another doozy for homebuyers," said Ralph McLaughlin, chief economist for home-listing website Trulia.  "Housing affordability is the key to helping break yet another year of gridlocked inventory, but all signs are showing homes this spring will be much less affordable than last year."

Affordability is being hit on several fronts:  The foreclosure crisis is over, but it left behind an entirely new landscape for potential buyers.  Entry-level homes are scarce because investors bought tens of thousands of them during the crisis and turned them into rentals.  The number of single-family rentals jumped to more than 15 million, up from about 11 million in 2009, according to the U.S. Census.

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California Pending Home Sales Dip Slightly in January; Southern California Market Continues to Outshine Other Regions #homeownership #realestate

3/9/2017

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Source:  C.A.R.

Following relatively strong closed escrow home sales over the past few months, California pending home sales slipped negligibly from a year ago, which suggests a softening in the housing market in the upcoming months, the CALIFORNIA ASSOCIATION OF REALTORS (C.A.R.) said.

Making Sense of the Story

- Based on signed contracts, statewide pending home sales decreased in January on a seasonally adjusted basis, with the Pending Home Sales Index (PHSI)* slipping 0.2 percent from 107.4 from January 2016 to 107.2 in January 2017.  On a monthly basis, California pending home sales were down 9.2 percent from the December index of 118.0.

- Only the Southern California region posted a year-over-year improvement in pending sales last month, rising 8.1 percent from January 2016 and increasing 10.5 percent on a monthly basis.  Riverside County led the region in pending sales, posting a 16.2 percent increase from a year ago.  Los Angeles, Orange, and San Diego counties also posted modest year-over-year increases of 7.1 percent, 8.0, and 4.0 percent, respectively.  San Bernardino County was the only area within Southern California that saw pending sales lower on an annual basis by 2.8 percent.

- For the San Francisco Bay Area as a whole, tight housing supplies and low affordability contributed to a fall in pending sales of 9.7 percent compared to January 2016.  Only San Mateo County posted an annual increase, rising 5.3 percent from January 2016 after posting a significant double-digit annual decline (35.3 percent) in December.  Pending home sales decreased 21.2 percent in San Francisco County, 7.1 percent in Santa Clara County, 24.9 percent in Monterey, and 4.8 percent in Santa Cruz county.  A shortage of homes on the market and poor affordability will likely persist throughout the year, and impact Bay Area home sales.

- Pending sales in the Central Valley fell 7.9 percent from January 2016 and were up 2.2 percent from December.  Within Central Valley, pending sales were down 14.6 percent in Kern County and 11.8 percent in Sacramento compared with a year ago.

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Tips on Pool Fence Safety to Reduce Your Liability #homeownership #realestate

3/1/2017

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Source:  HouseLogic

There's nothing more inviting on a hot summer day than a cool dip.  And that can lead to trouble if your pool lacks a child-proof fence.

Installing a fence around your swimming pool is a smart security measure that prevents kids from having unsupervised access.  In many areas, the law and your insurance company may also require it.  But how do you know what kind of fence to pick?

Here's where things get tricky:

THERE ARE NO STANDARD REQUIREMENTS
The U.S. does not have a federal pool fence law.  Instead, pool barriers are regulated at the state and local level.

Wait, it gets more complicated.

There are exemptions built into these laws.  For example, families with children over 6 years old don't have to install a pool fence in Arizona - unless you live in Scottsdale, Glendale, and several other areas.

See what I mean?  It's confusing.

Then you have to consider that although your pool might be exempt from fencing laws, your insurance company might require it.

So, what to choose?

FOLLOW THESE RECOMMENDATIONS TO BE SAFE
Here's a list of features every pool fence should have, based on legal requirements across the states and the U.S. Consumer Product Safety Commission:

- Height:  Some areas require a 4-ft. fence; the CPSC recommendation is 4 ft. or taller.

- Structure:  Must be impossible for children to climb.

- Type:  Permanent fencing is ideal because of durability.

- Gate:  All states require that they open outward away from the pool area, and be self-closing and self-latching.

- Materials:  Structures can be made from a wide range of stuff including wood, vinyl, and aluminum.  However, make sure the material you pick is not easily susceptible to damage.

THE 3 MOST POPULAR TYPES OF FENCES
Removable mesh pool fencing:  Many consumers like this option because it's an easy-to-move transparent barrier.  But when it comes to safety, don't skimp.  The Association of Pool & Spa Professionals has set a standard for fences like these that is recognized worldwide.  Here in the U.S., it has the approval of the American Society for Testing and Materials.  So if you go with a mesh barrier, make sure it meets or exceeds the ASTM requirements.  In many areas this is also mandatory by law.

Vertical bar fencing:  Structures can be made from a wide range of stuff including wood, vinyl, aluminum, and wrought iron.  However, make sure the material you pick is not easily susceptible to damage.  In most states, the space between the vertical bars can't be more than 4 inches wide.

Glass panel fencing:  Barriers like these are very popular in California.  They are durable and safe because they're made from tempered glass.  Plus, since they're transparent, they don't detract from your pool's beauty.

ADD ADDITIONAL PROTECTION
Keep in mind:  Many states, such as New York and California, require layers of protection in addition to fencing.

Examples of additional layers of security include:

- Automatic rigid pool covers

- An underwater motion swimming pool alarm

- Rescue equipment

But who do you contact in your area to get the skinny on swimming pool safety?  Since every state and county sets up their agencies differently, try contacting the following departments in your area:

- Building Code Department
- Department of Health
- Licensing and Regulatory Affairs



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Tips to Make Your Roof Last as Long as Possible #homeownership #realestate

3/1/2017

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Source:  HouseLogic

Whether your roof is brand-new or years old, here's what you need to do to keep it in the best possible shape for the longest possible time.

A new roof is an expensive proposition - $18,800 on average for composition shingles, according to Remodeling magazine's Cost Vs. Value Report, and as much as $36,000 for high-end materials.  Once you've made that kind of investment, you'll want to protect it.
And even if your roof is years old, maintaining it in good shape will prolong its life and keep you from having to replace it prematurely.

Here's What You Need to Do to Get the Most From Your Roof:

CLEAN THE GUTTERS
Ruined paint on siding and a wet basement are typical problems caused by clogged gutters, but it might surprise you to learn that the overflow can  also go upward.  When leaves pile too deeply in gutters, water can wick into roof sheathing and rot it, or even rot roof rafters.
Fixing that kind of damage could run into the thousands of dollars, but you can avoid it by cleaning your gutters each fall and spring.  Do it yourself in a few hours if you're comfortable working on a ladder, or hire a pro for $50-$250, depending on house size.

REMOVE LEAVES
If you have a simple peaked roof surrounded by low landscaping, your roof probably stays clear of leaves on its own.  But if the roof is more complicated or if towering trees are nearby, piles of leaves probably collect in roof valleys or near chimneys.  If you don't remove them, they will trap moisture and gradually decompose, allowing moisture to accumulate in your roof - or worse, create fertile ground for weeds to grow.

If you have low-slope and a one-story house, you may be able to pull the leaves down with a soft car-washing brush on a telescoping pole.  Or you can use a specialty tool like a roof leaf rake, which costs about $20.  A leaf blower gets the job done too, especially on dry leaves, but you or a pro needs to go up on the roof to use it.

If leaves are too wet or too deep, you might need to wash them off with a garden hose.  Don't use a pressure washer, which can force water up under the shingles.

GET RID OF MOSS
In much of the country, composition roofs often become covered with black algae.  Although unsightly, this filmy growth doesn't hurt the roof.  A little chlorine bleach or detergent mixed with water will kill it, but it's safer for both you and the roof to just leave it alone.
If you live in the Northwest, you're likely to find moss growing on your roof, particularly on wood or composition shingles.  Moss, which looks more three-dimensional than algae, needs to go because it traps water.  If you tackle it early enough, you can just sweep it off.
If there's a lot of buildup, you may need to kill the moss first.  The Washington Toxics Coalition recommends using products based on potassium salts of fatty acids rather than more toxic formulas with zinc sulfate.  Even so, apply the soap only where moss is growing, and try to keep the wash water from getting into storm drains.
Once the roof is clean and free of moss, consider investing in zinc strips to keep it from coming back.  For about $300, a roofer will install strips near the top of the roof.  When it rains, the runoff from the strips inhibits the growth of moss.  It's effective and more environmentally friendly than treating the entire roof with pesticide, as long as you don't live near a stream or a lake where the runoff can harm aquatic life.

TRIM OVERHANGING BRANCHES
A little prevention in the form of tree-trimming goes a long way toward keeping leaves and moss off your roof and keeping your roof damage-free.  Abrasion from limbs and leaves that touch your roof can eventually damage shingles, especially in high winds. 
Overhanging branches also give squirrels and other rodents access to your roof.  They can gnaw on your roof and siding.  Branches need to be 10 feet away from your roof to keep these pests at bay.  If that's not possible, wrap the tree trunk with a sheet-metal bank to prevent them from climbing the tree.
Trimming branches that hang over the roof is a job for a pro, though, or you might cause more damage than you prevent.

PREVENT ICE DAMS
If you're plagued by ice buildup on the roof, removing some or all of the snow between storms might forestall leaks into your house.  Don't try to pry off ice that's already formed, since that could damage the roof.  Use a roof rake to dislodge snow within three or four feet of the gutters.  Get a telescoping pole and work from the ground, if possible.  If you must be on a ladder, work at an angle so the falling snow doesn't push you over.

LOOK AND LISTEN
After every big wind or hail storm, or if you've heard scurrying on the roof at night, give your roof a quick check to make sure everything's still intact.

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