MalouRealtor

11/10/2020

Remember to ALWAYS WASH YOUR HANDS

11/10/2020

Placemaking During a COVID-19 Winter
Living outdoors has become a necessity as COVID-19 restrictions and public safety concerns have limited, or banned, indoor activities. But what will happen as its gest colder and darker as winter approaches?
It may be time to learn from the Scandinavian countries, where people have been routinely socializing outdoors in winter way before COVID-19. “You see people wrapped up, sometimes round a little fire, eating and talking in the freezing cold. It’s partly a mindset,” said Catharine Ward Thompson of the OPENspace Research Centre at Edinburgh University.Thompson went on to say that being outside could help people combat feelings of social isolation, “Even nodding at your neighbour or having a chat with a friend in the park makes a huge difference to your feeling of social connectedness.”

We can also learn a thing or two from our friends up north. Edmonton, Alberta first launched a Winter City Strategy(link is external) in 2012 as a way to reclaim the joy of winter and embrace the season. It laid the groundwork for thinking and acting differently in order to minimize winter’s negative aspects and create a more livable, vibrant city year-round. They are now ready to address COVID-19 ahead on this winter.

11/10/2020

Buying Trumps Renting—If You’ve Got the Down Payment
While renting can be a solid choice while saving for a down payment, recent findings show that homeownership is still the better deal. The cost of renting is rising faster than any other time in the last six years, according to the Bureau of Labor Statistics, while rental inventory stands at a 20-year low.

While rising rents and lack of inventory might nudge renters into buying a home, National Association of Realtors® Chief Economist Lawrence Yun points out that tight credit standards, student debt, and the growth of multigenerational households are contributing to the lowest number of first-time home buyers in decades (as shown in the 2014 NAR Profile of Home Buyers and Sellers). Additionally, rising rents mean less money to put away for that down payment. Even with these difficulties, Yun projects first-time home buyers will be more active in the 2015 housing market, freeing up some of that rental inventory.

11/10/2020

Instant Reaction: Mortgage Rates, November 5, 2020
November 5, 2020By: Nadia Evangelou
Mortgage rates hit another record low this week, for the twelfth time since the beginning of the year. Following the trend of the 10-year Treasury yields, the 30-year fixed-rate mortgage fell to an average of 2.78% from 2.81% the previous week. Uncertainty about the result of the elections pushed rates down.

In the meantime, people continue to save more than pre-pandemic—nearly 14% of their disposable income. In addition, personal income rose by 6% in September compared to a year earlier. With people saving more than before, homebuying is more attractive although home prices continue to rise. Meanwhile, these ultra-low mortgage rates significantly lower mortgage payments, making housing more affordable than a year earlier in many areas. For instance, in the Washington DC metro area, although home prices rose nearly 12% compared to a year earlier, the monthly payment for a 30-year fixed-rate mortgage is lower than a year earlier at $1,820.

With mortgage rates hovering near record lows, expect real estate to stay strong.
Nadia Evangelou
Research Economist

09/17/2020

Living Trusts Can Now Exempt Assets from Medi-Cal Recovery

By Sharon Anderson

On June 27, 2016, Governor Brown signed SB833: legislation which reduces Medi-Cal Estate Recovery’s ability to seek reimbursement from the estate of a surviving spouse. In short, this means that you can now use a revocable living trust to protect your assets from being clawed back by Medi-Cal after you or your loved one passes away.

Currently, Medi-Cal Estate Recovery has the right to seek recovery for any benefits paid from assets in which the surviving spouse of recipient had an interest at the time of their death, including assets held in living trusts or in joint tenancy. While the formation of a revocable living trust, under the current law, was effective to avoid probate, it did not offer any protection against Medi-Cal’s ability to seek reimbursement from your assets for the amount of benefits Medi-Cal paid for the medical or long-term care costs they paid during your or your spouse’s life. This recovery mechanism was criticized for its devastating effect on families of recipients who were forced to sell a family home to pay for Medi-Cal benefits received by family members.

Under the new law, for decedents dying after January 1, 2017, assets held in a living trust would be immune from recovery. Under SB 833, Medi-Cal’s ability to seek reimbursement for amounts paid from a Medi-Cal recipient’s estate would be limited to assets which pass as part of the deceased Medi-Cal recipients “probate estate” – the assets outside a trust, in other words.

Assets that would typically be a part of a person’s probate estate and therefore, would be subject to reimbursement, are those which are either (1) held in the decedent’s name alone or (2) designated to pass pursuant to a decedent’s Last Will and Testament. Assets that would not typically require a probate and which will avoid the devastating Medi-Cal clawback, include assets held in a living trust and assets held in joint tenancy, as they pass to beneficiaries outside of probate.

Since assets held in a decedent’s revocable living trust will, as of January 1, 2017, avoid both probate and Medi-Cal recovery and, as a result, preserve your estate for your loved ones – it is now, more than ever, important to plan for your loved ones by establishing a revocable living trust.

07/22/2020

Are you looking for a house and lot with great location like glendale?
I complied a list of houses with price range starts $600K and up.
Single residence..
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07/09/2020

Recently I compiled a list of my favorite foreclosure listings in SoCAL. If you have been wondering what are the hottest deals in Glendale, I am sure you can find them in my list. Send me a message so I can give you a copy!

07/08/2020