Holidays Market Update for December 9th

Dated: December 10 2020

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MARKET UPDATE

FROM THE DESK OF KELVIN VERRETT YOUR EXPERT ADVISOR

3rd Edition: December 9th, 2020

 I hope you are doing well and enjoying this beautiful weather. The housing market continues to grow as we're appreciating more than ever that our homes are a good place to stay safe and have fun at the same time. 

 
This market update is to give you some information on changes that will take place on January 1st in Los Angeles County regarding FHA loans. This is good news to those buying a home using FHA financing as the loan limits will be increased.

 

When buying a home using FHA financing, something you should be aware of when shopping for a loan with Private Mortgage Insurance (PMI).

 

Good news the FHA will be changing their Loan limit in LA County on January 1, 2021 to $822,375.00

  1. PMI on 30 year FHA Loans with 3.5% down and up to $625,500.00 is .85% on the monthly.  That is about $70.83 per month for every $100,000.00 borrowed. 
  2. When your FHA loan go above $625,500.00 and below $822,375.00, the PMI with 3.5% down for an FHA loan increases to  1.05% on a 30 year loan.  

Feel free to ask me about these changes and how they can benefit you.

 

In addition, interest rates are still in a strong place for home buyers!  For those of you looking to buy in now or in the new year (only a few weeks away), its a great time to make a move.

 

Interest rates are still in a great area!  Rates are still below 3.50%

  • Please understand that interest rates are subject to change without notice.

If there is anything I can do for you, don't hesitate to reach out to my team of real estate experts. Ask the Broker!

Your Expert Advisor,

Kelvin Verrett

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Safety Decorating Tips for the Holidays
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Decorating is one of the best ways to get in a holiday mood, but emergency rooms see thousands of injuries involving holiday decorating every season.

When decorating follow these tips from the U.S. Consumer Product Safety Commission:

  • Keep potentially poisonous plants – mistletoe, holly berries, Jerusalem cherry and amaryllis – away from children
  • If using an artificial tree, check that it is labeled “fire resistant”
  • If using a live tree, cut off about 2 inches of the trunk to expose fresh wood for better water absorption, remember to water it and remove it from your home when it is dry
  • Place your tree at least 3 feet away from fireplaces, radiators and other heat sources, making certain not to block doorways
  • Avoid placing breakable ornaments or ones with small, detachable parts on lower tree branches where small children can reach them
  • Only use indoor lights indoors and outdoor lights outdoors, and choose the right ladder for the task when hanging lights
  • Replace light sets that have broken or cracked sockets, frayed or bare wires, or loose connections
  • Follow the package directions on the number of light sets that can be plugged into one socket
  • Never nail, tack or stress wiring when hanging lights and keep plugs off the ground away from puddles and snow
  • Turn off all lights and decorations when you go to bed or leave the house
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KELVIN'S HOLIDAY FAVORITES

Winter Holidays and gingerbread always remind me of spending time with family, the aromas flowing from the kitchen and eating with no guilt. Here is a recipe that the entire family can join in to make and decorate.

GINGERBREAD COOKIES

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*Ingredients

1/2 cup brown sugar, packed

3 tablespoons butter, softened

3/4 cup molasses

1/3 cup cold water

1 teaspoon ginger powder

1/2 teaspoon allspice

1 teaspoon cinnamon

1/4 teaspoon crushed cloves

1/4 teaspoon salt

1 teaspoon baking soda

3 1/2 cups all purpose flour

 

*Cookie only.Does not include decoration.

Instructions

 

Mix together brown sugar, butter, molasses, and cold water. Add the remaining ingredients.

 

 

Cover dough and put in refrigerate for about an hour. This is optional, but will make it easier to handle. If you refrigerate it too long it gets stiff - don't throw it out just let it warm up and you roll it is and it will still taste just as delicious!

 

 

Pre-heat oven to 350 F. Roll out dough on lightly floured surface. Cut out with cookie cutters and place on greased cookie sheet at least 2" apart.

 

 

Bake cookies for 10 minutes (DON"T overbake!) Allow to cool 1-2 minutes on the cookie sheet, then move to cooling rack.

 

 

Once cooled, they're ready to decorate with icings of your choice.

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Kelvin Verrett

Kelvin Verrett, Expert Advisor, After 20 years in Real Estate industry and over 15 years as a Broker Owner, I returned to the Real Estate industry after an pleasant eight sabbatical where during that ....

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