Tag Archives: real estate blog

Top 5 Tips for Hosting a Stress-Free Thanksgiving!

Thanksgiving can sometimes feel like a holiday for everyone but the host. This year, why not make it fun for everyone? Just follow these helpful tips to prepare you for your most successful, worry free feast!

 

  1. Make a timeline and master list of everything that needs to get done.

Avoid last-minute overload by counting backwards from the time dinner is served and scheduling out prep time and oven time. Map out the timing for what can share the oven, and what can be served at room temperature. Stick to your plans to ensure everything runs smoothly. It may help to set alarms on your phone for really key moments, like putting the turkey in the oven

2.  Make as much ahead as possible.

When you’re planning your menu, look for dishes that can be made the night before. Desserts can easily be made ahead and re-heated. Even if you can’t make a full dish ahead, look for ways to prep the big stuff as much as you can, like toasting nuts or breadcrumbs.

3.  Set the table the night before — and embrace the kids’ table idea!

Set the table the night before, and think through who will sit where. Save yourself from rooting around in your messiest cupboard for the turkey platter in front of guests. And don’t fuss too much over decorations for the table … click here for quick and simple ways to make household items into perfect turkey day centerpieces. Keeping the kids at their own table can give you the opportunity to dress the table with the nice china and not worry about an accident.

4.  Never turn down help.

Most Thanksgiving parties embrace some sort of potluck rule, and that’s the beauty of it. Let friends and family bring appetizers, side dishes, or desserts. You can even buy pre-made items from the grocery store. This will free up your oven a bit and take some of your plate. Also, don’t be ashamed to ask for a hand in the kitchen, and gather a crew to help carry the dishes to the table.

 

5.  Don’t bite.

There may be someone in your family or in your circle that wants to start a heated discussion. Don’t take the bait just because that someone brings a hot topic up at the dinner table. The best way to keep everyone happy is to keep the conversation light and neutral. You can’t pick your family as they say, so take every opportunity to enjoy their company and your time together!

We hope you have fun in your preparations for your Thanksgiving party. Remember to relax and enjoy it! Maybe even find a moment in the chaos to remind yourself to be grateful for the opportunity to host your loved ones on this special day.

We wish you a Happy Thanksgiving!

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Will Your Will Be Enough?

Congratulations, you have taken the big leap and have purchased a home! Now that you own a home, have you thought about protecting your assets? Is having a WILL good enough?

When one dies with assets to his/her name over $150,000, his/her estate goes through Probate Court – and that happens whether or not he/she left a Will. The only instance when a decedent’s estate (that exceeds the probate threshold of $150,000) stays out of Probate Court is if the assets are titled in a Trust. For purposes of meeting the $150,000 threshold, the probate court looks at GROSS, and not NET value of the Estate.

For that reason, your new home–which you just added to your estate–most definitely pushed your assets above the probate threshold of $150,000. Therefore it would be wise to set up a Trust and transfer your home into Trust to prevent it from undergoing probate.

Even if spouses take title to their home jointly, that only protects the surviving spouse from probate at the first death. At the second death the home (which is now only in the survivor’s name alone) will most likely need to be probated.

Unlike the costs for setting up and administering a Trust, probate costs are much higher. Few people know that the probate fees are set in the Probate Code as a percentage of the gross value of the estate. It costs $46,000 to probate a $1 million dollar estate, $56,000 to probate a $1.5 million dollar estate, $66,000 $2 million dollar estate, and so on. Half of these go to the attorney for the estate, and the other half go to the estate representative. Those should be assets going to your heirs instead.

Protect your assets and your family – save your money for your beneficiaries and consult with an Estate Planner to convey your new home and your other assets in a living Trust.

 

 

 

Disclaimer:  This post is not intended to replace legal advice. It was put together with the assistance and guidance of attorney Maria N. Jonsson. We personally use Maria for our estate planning.

Maria N. Jonsson, Esq. (310) 802-9961, [email protected], www.mariajonssonlaw.com

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Top 5 Best Trick-Or-Treating Neighbourhoods on LA’s Westside

Halloween is always fun for the whole family, and the city of Los Angeles surely knows how to get in the spooky spirit! It’s become tradition in some neighbourhoods to decorate the entire block, or go all out for one massive haunted house. In a city known for its theatrics, it’s hard to choose the coolest spots to do your trick-or-treating this year. That’s why we’ve chosen the top 5 best spots on the Westside of LA for the family to experience spectacle, scares, and of course…CANDY!

Map of Cheviot Hills

Map of Cheviot Hills

1.Cheviot Hills

Almost all of Beverlywood and Rancho Park flock to Cheviot Hills to get the their thrills and treats every year. On Motor Avenue in particular, one house goes all out with decorations, music, strobe lights, and loads of kid friendly scares.

Map of Beverly Hills

Map of Beverly Hills

 

 

2. Beverly Hills (Walden Drive)

The Famous Spadena House

The Famous Spadena House

There is no greater treat than visiting the famous Spadena House (more popularly k
nown as the “Beverly Hills Witch House”)on all Hallow’s Eve! The entire street seems to feed off the energy of the house, as everyone decorates and celebrates by giving out loads of candy. This is quite a popular spot on the big night, so be sure to get there early to beat the crowds.

3. Venice Canals

Map of Venice Canals

Map of Venice Canals

If you are worried about the dangers of traffic on Halloween (who isn’t?) than this is the perfect place for you! The four block area is magically spooky with pumpkins and twinkle lights strung along the canals, fantastic decorations, and plenty of the requisite sugar treats. Parking can be a hassle, but as long as you plan ahead it is worth a little parking search.

Map of Santa Monica

Map of Santa Monica

4. Santa Monica (25th Street)

Perhaps the most decorative of the bunch, the scene on 25th Street between Montana Avenue and San Vicente Boulevard will blow you away. This block has really taken to adorning their houses and yards with giant spiders, makeshift graveyards, and inflatable pumpkins!

5. Brentwood Glen

Map of Brentwood Glen

Map of Brentwood Glen

Just west of the bustling 405 freeway is the small pocket of Brentwood Glen – a surprisingly quite neighborhood full of young families. This is the perfect spot for your first time trick-or-treaters and all the little ones on the search for candy. The homes are very close to one another, and very few cars pass in the evening. Although it is quite, the neighbours still decorate with fun and kid friendly haunted houses.

 

 

Remember, always exercise caution when approaching a home, and be especially cautious when crossing the street. Stay safe and HAPPY HALLOWEEN from The Mendelsohn Group!

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Buying a Home is STILL Cheaper Than Renting!

With the prices of homes in metropolitan areas still below their highest values and mortgage rates still teetering on historic lows, the monthly mortgage payment on a median priced home is less than at almost any time in the last 25 years.

In a recent report from Trulia, it is explained that owning a home remains cheaper than renting with a traditional 30-year fixed rate mortgage throughout the 100 largest metro areas in the U.S. Nationally, the price of owning is an average of 35% less expensive than renting. In the Los Angeles area, that rate is between 20-40%!

How is this possible you ask? Let’s take a look at the numbers:

  • Interest rates have remained low and even though home prices have appreciated around the country (3.9%), they haven’t greatly outpaced rental appreciation (3.7%). In the past year, these two trends have made homeownership even more affordable compared with renting.
  • Some markets might tip in favor of renting next year if home prices increase at a greater rate than rents and if mortgage rates rise, due to the strengthening economy. However…
  • Nationally, rates would have to rise to 10.6% for renting to be cheaper than buying – and rates haven’t been that high since 1989!
  • The National Association of Realtors performed a study in which they looked at income growth, housing costs and changes in the share of renter and owner-occupied households over the past five years. They found that a typical rent rose 15% while the income of renters grew by only 11%.
  • The average renter in the United States pays 30% of their income on housing compared to that of a homeowner who can expect to spend 15%.


The bottom line is that buying a home makes sense. Rental costs have historically increased at a higher rate of inflation. Now is the time to lock in a low interest rate and work towards your goal! Consider the following if you are on the fence about taking the leap into homeownership:

  • There are many benefits to homeownership. One of the top ones is being able to protect yourself from rising rents and lock in your housing cost for the life of your mortgage.
  • Homebuyers who purchased their home over the same five-year period locked in their housing costs and were able to grow their net worth as home values have increased and their mortgage balances have gone down.web-layout-sm
  • According to a poll by DigitalRisk.com, over 60% of first time homebuyers who recently bought a home put down less than 20%, while 36% put down less than 5%.
  • Speak with a realtor you can trust – they can help you plan your journey to buying a home, and making it as stress-free as possible!
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First-Time Home Buyer Tips!

You’ve decided to go for it and start the process of buying your first home. Buying a home can be thrilling and nerve-wracking at the same time, especially for a first-time homebuyer. It’s difficult to know exactly what to expect and if you are making the best choices for your budget, lifestyle, and goals.

That’s why we’ve created a list of the Top 5 Tips for the smoothest first-time home buying experience possible!

 

1.     Seek help from a professional agent you can trust.

Speaking to an agent about specific budgets and goals can help set you up for the best plan of action, and what is best suited for you. The years of industry a realtor can provide you with is worth the costs and can help expedite the process.

2.   Reach out to elders and mentors with experience for advice.

There is no greater value than getting advice from people who have been in your situation. They can help you navigate what mistakes to avoid and even give some tips on things like loans and interest rates.

3.   Research and narrow down the type of housing and neighborhood works best for you.

Having a strong grasp on exactly what you are looking for can help save a lot of time and stress down the line. This is especially crucial if you plan to use this property as an investment—things like proximity to major landmarks, school districts, and value of the neighborhood can pay off later on when you go to sell.

4. Fully prepare for short and long term expenses.

While upfront costs to purchasing can seem quite obvious, home-buying can come with a lot of unpredictable charges. There may be home owner’s association fees and unexpected repairs involved, so make sure to save and prepare for these potential road blocks.

5. Take your time.

There is no need to rush this process. It is a very rewarding thing to be able to purchase a first home, and it takes a lot of courage to commit! Once you commit to your decision, make sure to not get caught up in the hustle of finding the place you are looking for. Make sure it has what you are looking for and you are absolutely happy with your decision!

If you have any questions, or are looking to make this exciting move in the next few years, Revi would be happy to talk you through this process! Call or email anytime for more tips and advice to help you reach your home-buying goals!

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Millennials Heat Up The Home Buyer Market!

The Next HomeBuyers

Millennials are dominating the homebuyer market and changing the market for going on the second year in a row – and these exciting changes are sure to do great things for real estate in the coming years!

With more jobs on the horizon and more focus on establishing financial success before marriage, the real estate market has continued to see a boost thanks to this growing group of new buyers. According to the National Association of Real Estate, millennials are making up about 32% of the buying market, which is majority over all other buyer groups. This is proving beneficial to everyone in more ways than expected – it is boosting our economy and driving home values up!

Want to know where to start before buying your first property? The Mendelsohn Group can help point you in the right direction! Follow these helpful tips for millennial home buyers:

1.     Seek help from a professional agent you can trust.

Speaking to an agent about specific budgets and goals can help set you up for the best plan of action, and what is best suited for you. The years of industry a realtor can provide you with is worth the costs and can help expedite the process.

  1.    Reach out to elders and mentors with experience for advice.

There is no greater value than getting advice from people who have been in your situation. They can help you navigate what mistakes to avoid and even give some tips on things like loans and interest rates.

  1.    Research and narrow down the type of housing and neighborhood works best for you.

Having a strong grasp on exactly what you are looking for can help save a lot of time and stress down the line. This is especially crucial if you plan to use this property as an investment—things like proximity to major landmarks, school districts, and value of the neighborhood can pay off later on when you go to sell.

  1.   Fully prepare for short and long term expenses.

While upfront costs to purchasing can seem quite obvious, home-buying can come with a lot of unpredictable charges. There may be home owner’s association fees and unexpected repairs involved, so make sure to save and prepare for these potential road blocks.

  1.    Take your time.

There is no need to rush this process. It is a very rewarding thing to be able to purchase a first home, and it takes a lot of courage to commit! Once you commit to your decision, make sure to not get caught up in the hustle of finding the place you are looking for. Make sure it has what you are looking for and you are absolutely happy with your decision!

If you have any questions, or are looking to make this exciting move in the next few years, Revi would be happy to talk you through this process! Call or email anytime for more tips and advice to help you reach your home buying goals!

 

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