Buying a new home can be daunting. After you get through the obstacles of getting a home loan, finding your perfect house, you have to navigate the waiting period of making your offer. If you have a dedicated agent behind you, this process will go smoothly, but it’s best to have a good idea of what to expect along the way.

What Happens After Your Offer is Accepted?

You’ve made a strategic offer, and it has been accepted! Now, the next step is a deposit. The deposit seals the deal and makes the transaction official. Your deposit is usually a percentage of the home’s purchase price and applies to the final sale price. Be sure you have this deposit ready when you make your offer, as it can often make or break the sale.

What is Escrow?

After your deposit is secured, you’ll start the Escrow process. In Escrow, a third party holds the funds from your loan to disperse to the sellers until the sale is finalized. However, the escrow process has grown over the years to include many other finalizing factors. This is where all parties will complete the sale. Your home loan will be finalized, the home’s condition will be inspected, and the legal documents will be completed. Titles are exchanged, funds are dispersed, and the closing is completed.

Additional Closing Costs 

Don’t get swept up in the excitement of putting down your deposit and forget about closing costs. Closing costs are additional fees that cover other expenses of the home buying process.

In California, these costs run about 1-3 % of the final home purchase. They include fees to the lender for preparing the loan, credit checks and loan processing fees, escrow fees, appraisal fees, title search and examination fees, and inspection fees.

After closing costs, be sure you have also reserved funds for after-the-sale fees like the pro-rated property taxes, homeowner’s insurance, and mortgage insurance.

Preparation is the Best Strategy

Buying a home is exciting, but it’s not without its difficulties. Being prepared with the right funds, savings, and paperwork can save you many headaches – and may even save your sale.

Gardening is a lot of hard, rewarding, and therapeutic work. Just that answer alone is complex. Then, you must mold them all together to grow and maintain life. Add in the increasing drought conditions of Southern California, and it can become pretty easy to neglect your lawn. So, should you hire a gardener to maintain your landscape, or should you try to do it yourself? Let’s figure it out!

Pros to Gardening Yourself 

There are many studies that show spending time in the garden can decrease stress and improve your mood. In turn, you may experience benefits like lower blood pressure and better heart health. 

So, if you can garden yourself, then by all means! You will save a lot more money. Plus, the health rewards are well worth the time invested. 

What to Know About Gardening in Southern California 

California has a long-standing history of low water supplies. Your garden water usage must be in compliance with any local California water laws. 

Before planting, you should also be aware of how much water is needed to keep your garden alive. The Water Use Classification of Landscape Species (WUCOLS) is an excellent resource for this information. Their database lists the water needs of over 3,500 plant species.

Also, keep in mind that many plants won’t survive in drought conditions. So, planting them would essentially be a waste of water and money. Make sure you are up-to-date with the best drought-resistant plants for California.

Should You Hire a Gardener for Your Southern California Garden?

If you need to redo your whole garden or replace old turf, this might be a bigger job than you can handle. After all, we need to work for a living. There are just so many hours in the day! So, it’s best you get a gardener who specializes in water conservation gardens. 

Turf Replacement Program

 

California has a Turf Replacement Program that covers all of your gardening needs.

This innovative program is the brainchild of multiple organizations:

 

• Department of Water Resources
• California Conservation Corps (CCC)
• Habitat Corridor Project (HCP)
• Local Government Commission

 

Their goal is to replace 165,000 square feet of California turf with water-efficient landscaping using native plants, trees, and grass. Specialists will handle turf removal, irrigation, planting, and mulch. Applying is a no-brainer for someone looking to go green with their greenery.

Fruit Tree Planting Program 

Another amazing initiative that California has rolled out is a Fruit Tree Planting Program. City staff will plant one fruit tree in your yard. You can choose between six different plants.

 

Options include:

 

• Lemon
• Lime
• Orange
• Pomegranate
• Peach
• Avocado

This program hopes to improve the environment and the health of California citizens. Plus, with the recent avocado shortage south of the border, the Fruit Tree Planting Program might save brunch!

Water damage is one of the unforeseen problems that pop up for homeowners. To say it’s an inconvenience is an understatement. Untreated water damage can destroy structures, ruin your paint job or rug, and may lead to mold. Here are some tips for preventing water damage that all homeowners should implement.

Become Aware of Water Main 

In the moment you spring a leak, you must cut the water off at the source. Fumbling around in a panic will only set you up for water damage. Be sure you know where your water main is. That way, you can avoid a disaster them moment trouble starts brewing.

Get Gutters Cleaned 

It’s easy for gutters to remain out-of-sight, out-of-mind. They’re so far above us that we remain oblivious to their needs. Unfortunately, this quick fix can end up costly if it’s not addressed.

 

As leaves and other debris builds up in our gutters, the rain on the roof has nowhere to go. So, it will accumulate along the side of the house. Over time, this water can start to permeate your ceiling and walls, creating water damage.

 

Regularly clean your gutters. Make sure they’re connected to downspouts. That way, the rain can be drained away from the property adequately. 

Invest in a Water Detector

Not everyone dwells in their basement regularly. Therefore, water can accumulate, and you might not know for days or weeks. Get eyes and ears in spots you don’t check every day by getting a water detector.

 

Water detectors are small electronic devices that sense moisture. When the device comes into contact with a wet surface, it will let out an alarm. This alarm will warn you that water is accumulating in the area in question.

Check Washing Machine Hoses 

We take for granted the hard work our washing machine does for us. It gets used so often and requires little maintenance. However, the maintenance it does require is essential.

 

Over time, a washing machine hose may rust, get a tear, or disconnect from the machine. Check the hose from time to time. If it looks like it’s in need of replacement, it probably is. Just do it. Otherwise, you’ll end up wishing you did. 

Look at Your Water Bill

Another tell-tale way of figuring out a leak is looking at your water bill. Many people have their utilities on auto-pay. We’re unaware of the extra dollars being charged for water we’re not using each month.

 

Look at your bill and see how much a typical month costs. Pay attention for months on end and see the average. When you continually go over the average, there is a potential problem brewing. Fix it now before water damage becomes a reality. 

 

There’s nothing worse than a raging case of buyer’s remorse. It’s one thing to detest the jacket you just bought. It’s another to regret purchasing your house. While buying a home is an excellent investment that pays a lot of dividends in the long-run, daily life can make it harder to see the big picture. Some of the bumps along the road may cause you to feel moments of regret, but they shouldn’t. 

 

There are moments where you’ll feel blindsided as a homeowner. You feel that if you knew about these problems earlier in life, it could have made these blows easier to deal with. In fact, you can even plan for them, which would severely decrease any feelings of buyer’s regret. Here are five things homeowners wish they knew before they bought or renovated their home. 

Fix the Little Things As They Happen 

A slow leak can cause structural damage, while a clogged gutter can make a hole in the roof. There are little inconveniences that will inevitably pop up in your home. You might feel tempted to deal with these issues “tomorrow.” 

After all, you don’t plan on moving any time soon, so you’re bound to fix this issue. Well, that issue isn’t going anywhere either. Suddenly, it becomes a game of chicken as to what will crack first–the ceiling tiles or your procrastination. 

You Might Not Be Able to Renovate Upon Moving in 

Part of the allure of buying a house is making the place feel like yours. Sure, you can move in and rip up the carpet and paint the walls. However, you might not be allowed to get an addition or upgrade the electrical on day one.

For instance, adding another room onto the side of your house might be a zoning or conservation issue. Plus, installing a new bathroom will require a plumbing permit, just as blowing out the kitchen wall requires its own.

Furthermore, these permits can only be obtained by the homeowners. It doesn’t matter if you’re closing tomorrow. They will make you wait until tomorrow to start the process. Depending on your situation, approval may take months.

Get to Know Your Neighbors

It’s good to have people you trust that live around you. Even the biggest introverts can benefit from a last minute cat-sitter or someone close who can lend you a lawnmower when yours goes kaput. 

Also, bad neighbors can really impede your quality of life. Try getting a gauge of the people in your neighborhood before moving in. Say “hi” and chat if you see them outside. Drive around at different hours of a day to get a feel for the neighborhood’s vibe. Make an educated decision about your location before settling in. 

Look Out for Problem Trees

Trees are essential and are an excellent spot for your children to read a book. However, these big beauties can become even bigger pains. If your potential house is close to a big tree, Google it. See how aggressive their root systems are. 

Aggressive roots are strong and will expand many feet. In turn, they can pull up piping or damage the structure of the house. Think of a tree that destroys a sidewalk. That can be the slab of your future home’s foundation. 

Plan Renovations 

Your house needs to change as your family continues to evolve. These changes are going to be costly. However, their necessity will be inevitable. So, don’t live in denial. Come up with a plan.

Talk to pros about potential renovations. Get a gauge for how much they will be. Choose one big project every year or two. Save up and see it through. Then, start thinking of your next long-term goal. You’ll be surprised at how productive you can be! 

 

Everything you need to know about the Tenant Protection Act.

Click below for the PDF.

AB 1482 Rent Control Info

Another year in the books means another year as a homeowner. When you own a house, there are so many things that you need to go to keep up the property. Many of us don’t even know where to begin. Luckily, we can help you with that! Here’s a checklist for homeowners to kick the new year off right.

 

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Check the Air Quality

While it’s beautiful in southern California all year long, we still tend to spend the majority of our time indoors during the winter months. Heck, even during the summer, we’re guilty of cranking the AC up a bit too much. Suffice to say; we’re breathing in a lot of stagnant air. 

 

Improve your air quality by getting an activated carbon dehumidifier. These devices help capture mold and bacteria in the air that may cause allergies and other illnesses. Also, make sure to check filters in furnaces and central air units.

 

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Create a To-Do List

Every house is unique. So, the needs of the property will differ from person to person. The best way to start 2020 off on the right foot is to know what you’re dealing with.

 

Take inventory of your house. Walk around and see what needs to be repaired or replaced. Write these projects down. Also, be sure to give yourself a deadline. A sense of accountability will push us to be the better homeowners we desire to be.

 

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Get the Yard Ready

While we don’t have to contend with snow, some of our plants can’t sustain the winter months. That doesn’t mean there isn’t grass to mow or leaves to rake. Keep up with the minimal winter upkeep so you can transition into spring much easier. 

 

Speaking of spring, plan out your garden. Research about companion plants to improve your bounty. Also, try to come up with organic ways to keep critters out of your patches. The more thought you put into your garden, the more you will yield in 2020.

 

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Organize Your Storage

2020 is a new decade. New beginnings mean getting rid of the old junk you don’t need anymore. Have a tag sale or donate some of your old treasures. 

 

While you are going through your keepsakes, start organizing the things you went through. Instead of having old toys, clothes, and books mixed in together, try putting like items into totes. These practices will save you headaches in the event you actually need one of these items. Otherwise, this practice will just make it easier for you to donate or set up a table at a tag sale in the future. 

 

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Change that Room into the One You Want

We all have dreams of changing that extra bedroom into an office or the basement into a gym. Yet, we never pull the trigger. What’s the deal?

 

This is your house. You’re going to live here forever. Why not make into the perfect place for you? Transform that room into whatever you want it to be! You won’t regret it.

 

We love Long Beach. Why wouldn’t we?! The city of Long Beach is not only beautiful, but it is home to some amazing restaurants, shops, and tons of great events. We love having the ocean right at our fingertips and parks in our backyard. What we love most, however, are the amazing neighborhoods that make us proud to live in Long Beach. 

Let’s explore just five of our favorite Long Beach neighborhoods to find out why we love to call Long Beach home!

 

 

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Belmont Shore

Belmont Shore is the perfect mix of urban and suburban. This area has a younger vibe and attracts many young professionals with access to events, dining, and bars. 

 

 

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Bixby Knolls

Bixby Knolls is well-known for its low crime rate, high-performing schools, and high-end housing. This neighborhood is great for those who are willing to pay a larger price tag for opulence outside the city. The neighborhood is also near two freeways and the Long Beach airport, so this is a great area for commuters. 

 

 

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Naples

We love our own little “Venice of America.” Naples is Long Beach’s little Italy, complete with picturesque canals. The Marine Park is nearby offering a wonderful place to stroll, have a picnic, or take the kids to play. 

 

 

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East Village

If you love art and culture, the East Village might be for you. This area boasts lively night-life scene, high-performing schools, shopping, and galleries. Enjoy the festive bars, unique coffee shops, and green parks. 

 

 

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Hellman Street Craftsman Historic Village 

Historic, charming craftsman bungalows make the Hellman Street area famous. This is a low-crime area with many good schools, making it a great choice for families. The best part? The North Alamitos Beach is well-within reach. 

 

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Long Beach is For You
No matter what neighborhood you settle into in Long Beach, we know that you’ll find yourself right at home! From tree-lined neighborhoods to winding canals, brunch to cocktail hour, beach parties to evening park strolls, Long Beach offers a quality of life hard to come by. We can’t wait for you to join us!

One of the primary reasons people look to buy a Southern California home is that they want to acquire assets. In all logicality, if you’re going to pay to live somewhere, you might as well pay toward not having to spend forever. You can’t achieve this feat by renting. 

Now, when you have a mortgage on a property, you don’t own the house outright. However, what you paid toward the principal can serve as a line of credit. If you have home equity, you can even use it toward purchasing another property. Here is how.

Why Use Home Equity to Buy a Second Home?

Unlike purchasing the latest smartphone or the hottest new fashion, buying a house pays you back. It’s a long-term investment and can set you up for quite a profitable future. However, we’re living in the present, and that profitable future isn’t today. 

 

Just because you’re not swimming in millions just yet doesn’t mean you are broke. A good portion of your money may have gone toward paying down what you owe the bank on your current property. Thanks to this investment, you can now start to reap the benefits of owning assets. 

There are many reasons to use home equity to buy a second home. Perhaps you want to invest in a rental property to make a few extra bucks? Maybe you would like your children to move closer to you? Whatever the case may be, if you have equity, you have a way to buy a second home. 

Home Equity Line of Credit

The best way to leverage your house toward buying another property is by accessing a Home Line of Credit (HELOC). A HELOC allows you the money necessary to put a down payment on a new property. 

 

Most interest rates on HELOC run between 3% and 4%. Therefore, this type of loan is competitive to current mortgage market prices. In some cases, A HELOC interest rate might be even better!

What to Consider When Using HELOC for a Second Property

Is a HELOC for a second property right for you? There’s only one significant factor to take into account. You need to be positive that you can pay on both loans.

 

If you are using the second property as a rental, make sure you can cover the insurance and taxes with the rent you will be pulling in. You want to always cover the minimum on your second mortgage. However, if you want to pay the mortgage on your second home down quicker, you’re going to have to cover the minimum and a little extra. Do your due diligence and find out if you are purchasing a house that’s a good deal and easy to rent.

Also, make sure you talk to your accountant. Real estate taxes are excellent deductible options for landlords. See how much you can write-off on this second property. That way, you can maximize your profits and pay off all your investments much quicker. 

 

Trying to sell your home during the holiday season can present challenges but is not impossible. While most realtors will try to convince you otherwise, the winter months offer the opportunity to be on the market with fewer other homes.

It is important that your holiday décor does not overwhelm potential buyers touring your home. The desire to decorate as you normally would is understandable but for those selling their homes, keeping buyers in mind is best.

 

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Skip the Lights

This may sound like blasphemy to some but while fun and festive, lights are a great way to hide the charm and character of your home’s exterior. While most buyers will be touring your home during the day, lights are still intrusive and unattractive with wires and cords running through your yard and around your windows.

 

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Compliment Your Décor 

Is your home tastefully themed with a darker color palette or a lighter blue hue? If so, consider purchasing holiday decorations that compliment these colors. Rather than put out your random, multicolor collection from years gone by, select some metallic or a complimentary palette to decorate your home.

 

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Keep Others in Mind

The point in decorating a home for the holidays while staying on the market is to appeal to as many buyers as possible. Not everyone celebrates the same holidays as you do. Keep your decorations as neutral as possible (read: maybe skip the giant inflatable Santa this year.)

 

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Fresh is Best

Fresh flowers can be a great asset to your interior holiday design. Select appropriate colors like reds, greens, and whites to create a festive bouquet. Berries and baby’s breath are also great additions to a holiday arrangement.

Selling your home during the holidays does not mean a complete departure from decorations. Keeping things simple and sophisticated will help ensure you keep prospective buyers interested.

 

Whether you’re someone who loves it or someone who hates it, tax season is an inevitable part of each and every year. Sure, it’s time consuming and it can get a little bit confusing, but it’s always worth the hassle when you know that there’s a refund check coming your way mid-spring. To make it even more worth the hassle, we did our research and compiled a list of purchases that can increase your tax refund. 

So, here are 10 purchases you didn’t know were tax deductible: 

 

 

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Teaching materials 

Most teachers know the pain of having to shop for supplies throughout the year when the kits provided by the school are half empty and mostly broken. All those cute, tiny glitter glue sticks, colored pencils, and safety scissors can really add up, but if you’re a K-12 teacher, you can deduct up to $250 for materials to help ease the financial burden. Bonus deduction: if you’re married to another teacher, you have $500 to share on school supplies.  

 

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Medical and dental expenses 

This is an incredibly practical and important deduction that many people aren’t taking advantage of. If these expenses accounted for more than 10% of your adjusted income the previous year, you can claim that amount as a deduction. If you don’t have insurance coverage in these areas, you may hit that number faster than you’d imagine. 

 

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Uncovered losses 

If you experienced a casualty, disaster, or theft loss that was not covered by your insurance, you may be able to claim the loss as a tax deduction. 

 

 

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Charitable donations 

Not only can you receive a tax deduction for goods or monetary donations made to qualified charitable organizations (think bins of clothes you brought to Goodwill last year), but you can also get a deduction for any out-of-pocket expenses that you used for charitable work, as well. If you contribute baked goods to charity fundraisers, for example, deducting the ingredients that you used would be allowed. 

 

 

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Sales taxes 

This one can get a little trickier, as you have to decide if you want to itemize your deduction or take the standard deduction. The sales tax itemization breakdown could come out in your favor if you made a big purchase last year, like a car or an engagement ring. Your accountant (in-person or online through tax services like H&R Block) can break it down to help you determine which one will save you more money. 

 

 

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Lifetime learning 

Aside from the more common tax deductions for college students, the Lifetime Learning credit can also help save you money on education costs at any age. According to TurboTax, you can get up to $2,000 per year deducted, taking off 20% of the first $10,000 you spend on your education after high school. 

 

 

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Childcare expenses

If you hire a babysitter to watch your little ones while you’re volunteering (without pay) for a charity, you can list this cost as a charitable contribution on your next tax return. 

 

 

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Self-employment Social Security 

If you’re self-employed, you already know the misfortune of having to pay the full 15.3% of your income to taxes for Medicare and Social Security that would typically be divided with your employer. Luckily, you can deduct the amount that your employer would be paying, which comes out to 7.65%. 

 

 

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Unusual business expenses 

This category is a fun one. Owning your own business opens up a world of possibilities, but who knew that you could deduct just about everything that you buy for that business? For example, you can get a tax deduction for freebies/gifts that you buy for employees and customers, up to $25 per person, and you can deduct the costs of a housekeeper or landscaper if you run your business out of your home office. 

 

 

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Home renovations

Last but not least on the list is certain home renovations. You can’t deduct the zipline you installed in the backyard that comes to an end just over your (also brand new) pool, but you can deduct renovations that you made to accommodate medical disabilities, like a ramp to make your home handicap accessible.