It's the Time of Year For Termites in Southern California

Long Beach/Southern California Real Estate • Mar 28, 2023

It's not surprising in my experience to find that an owner may have owned a property for years, but has not done a termite inspection since it was purchased, let alone any repairs. Keeping up with pest control on an annual basis, or biannual basis, can save money.  Tenting or even local wood repair alone may cost thousands, what used to be a $2000 tenting/repair cost a few years ago is now $4000.  So try to avoid this major cost (whether you're selling or not) by taking care of moisture issues and soil contact issues:

  1. Eliminate or reduce moisture in and around the home, which termites need to thrive.
  2. Repair leaking faucets, water pipes, and exterior AC units.
  3. Repair fascia, soffits, and rotted roof shingles.
  4. Replace weather-stripping and loose mortar around the basement foundation and windows.
  5. Divert water away from the house through properly functioning downspouts, gutters, and splash blocks.
  6. Routinely inspect the foundation of a home for signs of mud tubes (used by termites to reach a food source), uneven or bubbling paint, and wood that sounds hollow when tapped.
  7. Monitor all exterior areas of wood, including windows, doorframes, and skirting boards for any noticeable changes.
  8. Maintain an 18-inch gap between the soil and any wood portions of your home.
  9. Consider scheduling a professional inspection annually. Wood-boring insect damage is not covered by homeowners insurance policies. 
  10. Store firewood at least 20 feet away from the house. *

There are different kinds of termites , and vary according to region.  In Southern California subterranean and drywood termites are often seen, but dampness draws in termites also.  Amazingly, termites may not just work on wood, I once saw a house in Long Beach with concrete slab foundation for an added family room that was literally crumbled underneath the carpeting from termite damage after it was pulled back, and walking over the carpeting caused a scrunchy sound.

And, if you're thinking of selling, termite damage repairs are considered negotiable in the standard CAR contracts, but most buyers will ask for the seller to cover the cost.  If termite repairs are stated in the purchase contract (and they aren't always), lenders will want to see termite clearance in order to make a loan, and if buyers are footing the bill, the lender has to know that amount and approve it before final loan funding. 

Termite damage is most often seen in houses, but condos are not automatically exempt -- especially if there is dampness and/or trees nearby and a way to termite to enter the interior. If your home is near a park or school where grass/landscaping is watered frequently, then those features may draw termites to your property.

If you are considering making a change of residence with your house, condo or residential units, please contact me for more information on selling.  Getting the right price is very important, but also knowing the terms smooths the way for a successful closing!

*Information courtesy of BPG Inspections

 Julia Huntsman, REALTOR, Broker | http://www.juliahuntsman.com | 562-896-2609 | California Lic. #01188996

Your Market Info

Bay Area vs Kansas City Price Comparison

By Long Beach/Southern California Real Estate • 12 Feb, 2024
San Francisco and Kansas City home market prices!This graphic is at the end of 2023, showing median sales prices as of the 4th quarter in the Bay Area vs Kansas City.If anyone is thinking of relocating to Kansas City or any other area, just get in touch!  Julia Huntsman, REALTOR, Broker | http://www.abodes.realestate | 562-896-2609 | California Lic. #01188996

Cash Transactions May Soon Require Reporting by the Broker

By Long Beach/Southern California Real Estate • 09 Feb, 2024
"The Treasury Department’s Financial Crimes Enforcement Network proposed a regulation on Wednesday that would require real estate professionals to report information to the agency about non-financed sales of residential real estate to legal entities, trusts and shell companies." Cash transactions in real estate have been a suspected source of money laundering, both in the United States and Canada, where values have increased over 3-7%. Not everyone is happy about being registered, but a new database has been set up where over 100,000 business have registered, in order to gain transparency for who is buying with all cash in real estate purchases. Anonymous shell companies and trusts will have to disclose names of actual persons involved.  See more at the Wall Street  Journal.Julia Huntsman, REALTOR, Broker | http://www.abodes.realestate | 562-896-2609 | California Lic. #01188996

The Market in Seal Beach for December 2023.

By Long Beach/Southern California Real Estate • 30 Jan, 2024
Seal Beach Market Update Dec. 2023Seal Beach visitors notice the shops, restaurants and local neighborhood ambience.  Old Town is the center of summertime activity for beach going fun and walks on the pier. It's hometown scale is what visitors find accessible and friendly. Listings for single family homes in Seal Beach were down in December 2023, as were the number of closed sales, compared to one year ago, 96 sales down to 77 sales, while days on market increased from 20 days to 30 days.  The median price however, over the previous 12 months, increased by 3.7%, while average prices were down 1.2%.To see map and or list views of current properties on the market, go to the link below, fill out the form and click on Apply. Here is map view of current properties on the market in Seal Beach as of date of this post: Graphic of current listings in Seal Beach     To find properties in Seal Beach, go to https://www.abodes.realestate/mls-property-search  For more information on any properties, please call, text or email me. The more information you give me, the more I can assist you. Julia Huntsman, REALTOR, Broker | http://www.abodes.realestate | 562-896-2609 | California Lic. #01188996

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Costs of Owning a Home Include Utility Bills

By Long Beach/Southern California Real Estate • 17 Jan, 2024
Sales price of a property is not all there is to consider in a home purchase -- there are maintenance, insurance, property taxes, and utility bills. Utility bills may include water, central air and heat, phone and internet services, and keeping up the heat for the swimming pool if there is one. If your property is a condo or single family home in an HOA, monthly assessments may include some services, or not -- so a buyer should be sure to check on those items.With the topic of climate change, heating and cooling costs have particularly come to owners' attention. But according to a survey by Payless Power, only about 47% of homeowners said they considered cost of electricity when purchasing their home. While this can vary widely according to living in a cold winter blast area, or the hot summer deserts of Arizona and California, agencies have increased their utility charges. To conserve costs, consider using off-peak hours (check with your utility company, usually later in the evening), using energy efficient appliances and unplug them while you're on vacation, and sealing the house as cracks and gaps can account for a 40% loss of heat--dual paned windows are not inexpensive but can be worth the cost.The graphic by Payless Power illustrates some of their findings on costs related to age of home, size and type. Julia Huntsman, REALTOR, Broker | http://www.abodes.realestate | 562-896-2609 | California Lic. #01188996

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By Long Beach/Southern California Real Estate • 17 Jan, 2024

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Interested in Owning/Living in 2-4 Unit? New Lower Down Payment

By Long Beach/Southern California Real Estate • 05 Jan, 2024
Also, as of last November 18, 2023, FNMA is accepting 5% down payment on 2, 3 and 4 unit properties. They must be owner occupied in at least one unit. This lower down payment allows the purchaser to put more money towards standard purchase costs, property maintenance or reserve funds for the future. To obtain qualification information, the buyer needs to contact an experienced loan officer for more information on all loan limits and financing. A buyer should also learn about owner/tenant laws, and more, assuming other units will be rented out, which of course brings in income on the property. This lower down payment is a huge benefit to buyers interested in residential multi-unit purchases. For representation to purchase a property and assistance with all contract and disclosure aspects of buying, please contact me, a REALTOR since 1994.

What’s Happening in the Long Beach Area Housing Market? Speeding Ahead?

By Long Beach/Southern California Real Estate • 28 Dec, 2023
Boat in Marine StadiumIt’s probably not a shock that the real estate market is softening. After a period of low-interest record rates, we’ve seen a significant increase in the average mortgage after multiple subsequent rate point hikes from the Fed as it tackles inflation. This has hampered both buyers and sellers.This creates a lock-in effect. Homeowners like you probably hold a low-interest rate mortgage and are reluctant to sell in an environment with rising rates. Buyers also don’t want a high-interest rate, but buyers are still in the market. Mortgage companies offer alternatives to a 30-year fixed loan along with many ways the buyer and seller can work to buy down the loan to make the payments more palatable.There are fewer listings on the market, and active buyers are still looking for the perfect home at the right price. Some homes are still selling within weeks, about 30% nationally. What’s the secret? Being ready for occupancy and pricing properties based on condition and comparable sales.An excellent REALTOR can work with you to do the right things to make your home attractive to potential buyers. If you’re not interested in selling right now, you can sit tight because you’ve built equity in your home, and even in this unsteady market, that equity will likely not erode.I’m always here to answer questions about the property value of your home and specific neighborhood comparables. Please use your favorite form of communication to reach out! Julia Huntsman, REALTOR, Broker | http://www.abodes.realestate | 562-896-2609 | California Lic. #0118899

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