Buyers • Home Owners • Sellers • January 30, 2024

How can one eliminate PMI?

by Kirsten "Kris" Jardino

For individuals who have purchased a home with a down payment of less than 20%, Private Mortgage Insurance (PMI) is likely to have been added by the lender, contributing to an increase in their monthly mortgage payment. Before delving into how to eliminate PMI, it’s essential to understand what PMI entails.

What is PMI?

PMI serves as insurance that safeguards the lender in the event the borrower defaults on their loan. It’s important to note that PMI does not provide any coverage to the buyer and should not be confused with mortgage protection insurance, which is designed to pay off the mortgage in the unfortunate event of the borrower’s passing before loan completion.

PMI enables borrowers with smaller down payments to secure a loan, as the risk associated with smaller down payments is higher for lenders. The lender mitigates this risk by implementing private mortgage insurance.

Cost of PMI

To illustrate, consider a $1,000,000 home purchase with a buyer possessing a FICO score of 740 or higher. With a 10% down payment, the additional PMI premium is approximately $225 per month. However, if the down payment is reduced to 5%, the premium jumps to around $332 per month.

How to Eliminate PMI

Equity, defined as the difference between the home’s value and the outstanding mortgage amount, plays a crucial role in eliminating PMI. Homeowners should contact their Realtor to ascertain the current market value of their property. Many homeowners who made purchases in recent years have witnessed substantial price appreciation, leading to an increase in their equity.

Once a borrower reaches 20% equity in their home, they should reach out to their lender. The lender may require the borrower to pay for a professional appraiser to assess the current value of the home before considering the removal of PMI. If an appraisal is necessary, the Realtor can assist by providing comparable properties (comps) – recently sold homes in the neighborhood with similar characteristics such as condition, features, square footage, and lot size.

Upon confirmation by the appraiser that the homeowner has achieved 20% or more equity, the lender should proceed to remove the PMI coverage.

Buyers • Home Owners • Sellers • January 29, 2024

What is considered Midcentury-Modern?

by Kirsten "Kris" Jardino

The architectural style known as midcentury-modern is not merely indicative of designs from the 1950s; rather, it encompasses a set of defined principles. Many contemporary architects continue to be influenced by this style.

What is midcentury-modern architecture?

Midcentury-modern is an architectural style that emerged during the middle decades of the 21st century. It should not be equated with a California Ranch, as the latter incorporates more decorative elements, such as paned windows, as opposed to the single-pane windows characteristic of mid-century style. The midcentury-modern style is characterized by a less decorative and more streamlined and simplified aesthetic, often featuring open floor plans. It should not be confused with homes that have recently undergone reconfiguration to eliminate walls and create open spaces. While not particularly popular twenty years ago, these homes have become highly sought after in the last decade.

Frank Lloyd Wright is widely regarded as the most influential figure of this period. His son, Lloyd Wright, followed in his father’s footsteps, and there are numerous examples of Lloyd Wright homes nearby, such as the Gainsbourg House in La Canada (my partner sold years back), the ER Lewis Home and the Derby House both in Glendale.

Buyers • Sellers • January 26, 2024

The Advantages Of Hiring a Major Real Estate Firm Such As Coldwell Banker

by Kirsten "Kris" Jardino

The Advantages Of Hiring a Major Real Estate Firm Such As Coldwell Banker

Collaborating with a large real estate office brings forth numerous benefits, and a significant factor contributing to this is the recent shift in the rules of the Multiple Listing Service (MLS), particularly concerning “Coming Soon” listings. For my dedicated readers of the Los Angeles real estate blog, you may have noticed a change in my content regarding upcoming listings. The reason for this lies in the restriction against advertising listings not yet in the MLS. However, I’ve found a workaround that allows me to share information with my 400+ colleagues at the Coldwell Banker Hallmark offices, affecting the frequency of updates on my Instagram account.

Here are some key aspects related to the “Coming Soon” status:

No Showings: During the “Coming Soon” status, the property remains off-limits for showings until it transitions to the Active status. This means that realtors cannot showcase the property to potential buyers or clients during this initial phase.
Limited Advertising: Listing information is withheld from public-facing real estate portal websites during the “Coming Soon” status. As a result, the Days on Market (DOM) do not accumulate during this period due to the restricted advertising reach.
21-Day Limit: Properties can stay in the “Coming Soon” status for a maximum of 21 days. Beyond this timeframe, the MLS system automatically shifts the listing to Active status. Consider a scenario where a seller faces a family emergency and wishes to delay showings. While possible, the property must be actively listed, and the days on market will start accruing. This becomes particularly relevant during the rainy season, complicating the timing of listings as rain delays staging and photography, causing subsequent backlogs for stagers and photographers.
One-Time Use: Importantly, the “Coming Soon” status is a one-time opportunity. Once the property status changes from “Coming Soon” to any other status, it cannot revert back to the “Coming Soon” status.

Understanding these nuances of the MLS rules sheds light on the intricacies of pre-listing marketing strategies and the considerations involved in maximizing the exposure of a property. Stay informed for more insights into the dynamic world of Los Angeles real estate.

These are just some of the Advantages of Hiring a Major Real Estate Firm

Buyers • Home Owners • Sellers • January 19, 2024

Organizing an Overflowing Closet: A Step-by-Step Guide

by Kirsten "Kris" Jardino

Some people embrace minimalism with capsule wardrobes and only three pairs of pants. However, if your closet is bursting at the seams, it can be challenging to let go of certain items, whether they’re seasonal pieces or cherished investments. To tackle excess clothing without parting with it, reorganizing is crucial. Here’s a guide on how to reset your closet when it’s overflowing.

Organizing an Overflowing Closet: A Step-by-Step Guide

Purge Efficiently:
Professional organizer Rose Pulver advises a thorough purge. Remove everything and evaluate its condition, your attachment to it, and its practicality. Another sweep might uncover hidden items that can be donated or discarded. Don’t forget to eliminate broken hangers and old dry-cleaning bags.

Adjust Shelves or Add More:
Your closet might be more spacious than you realize. Adjustable shelving allows flexibility in accommodating your storage needs. Adding a shelf or two, a cost-effective option for renters, can expand your storage capacity.

Install a Second Closet Bar:
For maximizing closet space, consider adding a second bar. Lindsey Mahanna, a professional organizer, suggests turning a standard closet into a double-hang by easily adding an adjustable rod.

Categorize by Season:
Organize items by season, grouping winter jackets with winter jackets, for better visibility and inventory tracking. Separating seasonal clothing and storing them elsewhere maximizes storage space.

Explore Alternative Storage:
Consider underutilized spaces in other parts of your home for additional storage. Unused closets in guest rooms or extra space in a child’s closet can house items like formal wear or costumes. An armoire is a cost-effective alternative to building a new closet.

Utilize Drawers and Walls:
Not every clothing item needs to be stored in the closet. Fold items like jeans and sweaters and store them in drawers. Utilize open walls for accessories like hats, belts, and handbags. Neatly stacked items and shelf dividers maintain uniformity.

Optimize Hanging Space:
Reserve hanging space for blouses, skirts, slacks, and dresses. If space is limited, explore other areas in your home for coat racks or hat racks to store items efficiently.

Remember, a well-organized closet enhances accessibility and reduces clutter.

Home Owners • Sellers • January 18, 2024

Is downsizing the right solution for you?

by Kirsten "Kris" Jardino

In the not-so-distant past, empty-nesters and retirees often considered a 3,000-square-foot house excessive for two people and chose to downsize. However, a growing number of homeowners are bucking the trend and opting to stay in larger homes during retirement. Downsizing is a significant decision with its own set of pros and cons. The question arises: Is downsizing the right solution for you?
Is Downsizing right for you

If you’re weighing the option of moving to a residence with less maintenance versus staying in your current home, here are four reasons to think twice about downsizing:

Mortgage Rates: Given the current interest rates hovering around 7%, homeowners with lower rates in the twos and threes may find it more financially advantageous to stay put. Moving to a smaller house might result in a reduction in size but not necessarily in monthly payments.
Costs of Selling and Buying: The expenses associated with selling, including agent commissions and closing costs, could offset immediate financial benefits. Market conditions and capital gains tax implications should also be considered, impacting the potential for selling at a desirable price. Additionally, there are costs on the buying side.
Aging in Place: If your current home can be modified to suit your needs, downsizing might not be the most practical choice. Health concerns and mobility issues may necessitate features designed for aging in place, which a larger home can readily accommodate. A bigger home provides more flexibility, including space for live-in help.
Emotional Attachment: Beyond financial considerations, emotional attachment is a valid reason to skip downsizing. Many homeowners have deep sentimental connections to their homes, finding comfort in the memories and history tied to their current space. Retirement is already emotionally challenging, and the additional stress of a move might not be worth it.

For more insights on decluttering and simplifying your living space check out this link.

Home Owners • January 17, 2024

2024’s Hottest Bathroom Design Trends

by Kirsten "Kris" Jardino

2024 is officially in full swing. And as people settle into the new year, many are looking for new, trendy, and stylish ways they can change and refresh their home, which often includes their bathrooms.

2024's Hottest Bathroom Design Trends

So what, exactly, are the trends in bathroom design, and how can you incorporate them into your bathroom to make it feel more timely and on-trend? A recent article from realtor.com outlined design pros’ picks for the hottest bathroom design trends of 2024, including:

- Nature-inspired green. Each new year typically sees a new color become the must-have hue in bathroom design. And this year, that color is green. A nod to the outdoors, shades of green are being incorporated into trendy bathroom designs in a variety of ways, including sea green tiles and paint. Want to embrace the trend, but don’t want to commit to renovating your whole bathroom? Incorporate shades of green into your accessories, like a sage bath mat or a deep green shower curtain.
- Water closets. Water closets — which is a bathroom design that involves creating a separate room/space for the toilet — are another big trend in bathroom design in 2024. Because the water closet has a door, it gives people a more private experience, which is a major plus for shared bathrooms. It also allows you to close the door and keep the toilet out of sight even when not in use, so it doesn’t distract from the bathroom’s other design features.
- Backlit mirrors. Backlit mirrors create a spa-like experience in a home bathroom. Not only are these mirrors stylish, but because they use LED bulbs, they’re more energy efficient (and tend to last longer) than other bathroom lighting options, which can help cut down on energy costs. The light that shines from backlit mirrors is stronger, making makeup application and other small tasks (tweezing!) easier. At the same time, the illumination from these wall mounts is less harsh and emits a softer, more diffuse glow—a welcome benefit in the wee hours of the morning.

Embrace these cutting-edge trends in bathroom design to not only enhance the aesthetic appeal of your space but also elevate your daily routine with a perfect blend of style and functionality, ensuring your bathroom remains a timeless haven for relaxation and modern living.

Home Owners • January 16, 2024

Healthy Home Environment

by Kirsten "Kris" Jardino

Establishing a health-conscious home environment involves considering various elements. These include air quality, cleanliness, and overall well-being. To assist you in maintaining a living space that prioritizes health, here are some practical tips:

Healthy Home Environment

Ventilation:
- Ensure optimal air circulation by regularly opening windows and doors.
- Incorporate exhaust fans in kitchens and bathrooms to minimize moisture and enhance air quality.
Air Quality:
- Utilize air purifiers to effectively filter pollutants and allergens.
- Introduce indoor plants, known for their air-purifying properties.
Cleanliness:
- Perform regular cleaning and dusting of surfaces to reduce allergens. Make frequent use of vacuum cleaners on carpets and rugs.
- Establish a routine for washing bedding, curtains, and upholstery.
- Enforce a no-shoes policy to minimize the influx of dirt and contaminants indoors.
Mold Prevention:
- Address leaks promptly to prevent water damage and the potential growth of mold.
- Maintain humidity levels within the recommended range of 30-50%.
Natural Cleaning Products:
- Opt for environmentally friendly and non-toxic cleaning products for both the home and laundry.
- Steer clear of harsh chemicals that can contribute to indoor air pollution.

Remember, every home and lifestyle is unique, so feel free to adapt these tips to align with your family’s specific needs. Regular maintenance and a proactive approach will contribute to the well-being of your home.

Buyers • Home Owners • Sellers • January 15, 2024

The Trendiest Kitchen Design Features of 2024

by Kirsten "Kris" Jardino

As we embark on the journey of the new year, fresh trends in home decor, particularly in kitchen design, are making waves. Curious about the hottest kitchen design trends for 2024?

Coffee Station in home

Realtor.com recently spotlighted some picks for this year’s hottest kitchen trends, including:

Open Shelving: Offering both easy access to essentials and visual interest, open shelving adds a decorative touch that is cost-effective compared to full cabinets.

Coffee Stations: With the continued trend of remote work post-pandemic, in-kitchen coffee stations are gaining popularity. They provide convenient access to all the necessities for your morning cup of coffee and can become a focal point of your kitchen design.

Sky Blue: Benjamin Moore’s “Color of the Year” for 2024 is Blue Nova, a mid-tone sky blue with violet hints. This color is expected to be prevalent in various settings, including kitchens.

Sustainable Materials: There’s a growing emphasis on eco-friendly and sustainable materials for kitchen construction and furnishing.

Smart Kitchens: The integration of smart technology into kitchen appliances and systems enhances efficiency and convenience.

Remember, one thing that never goes out of style is natural lighting. Embrace these trends to give your kitchen a fresh and contemporary look in 2024.

Buyers • Home Owners • Sellers • January 12, 2024

Different Jobs of a Realtor

by Kirsten "Kris" Jardino

Working in Real Estate is a dynamic profession. Each day, we find ourselves wearing various hats – from project managers and negotiators to marketing experts. The role of a Realtor encompasses a multitude of responsibilities, extending beyond the conventional scope. Here are the diverse roles that make up the repertoire of a Realtor:

Different Jobs of a Realtor

Therapist: Spending considerable time with clients allows us to form personal connections. The process of buying or selling a home can be highly stressful, and being a supportive figure is a crucial aspect of our role.
Juggler: One of the most challenging aspects of being a real estate agent is the art of multitasking. We handle a myriad of tasks and to-dos throughout the day, all while being prepared to address unexpected challenges that may arise.
Mind Reader: Acting as mind readers, we navigate through situations where some clients share abundant information about their lives, while others may not communicate enough. Anticipating and adapting to changing needs is a key skill.
Fortune Teller: If only we had a crystal ball! Clients often inquire about the future of home values, seeking predictions on when and how much they might fluctuate. Unfortunately, the real estate market doesn’t come with a straightforward forecast.
Magician: Despite common misconceptions that buying or selling a house is a breeze, those who have experienced the process know it’s anything but. We work like magicians to ensure a smooth and drama-free transaction, even when the intricacies of real estate dealings can be complex.

Home Owners • January 2, 2024

Embracing the Trends of 2024 in Home Design

by Kirsten "Kris" Jardino

Embracing the Trends of 2024:

Rising Stars: Quartz and quartzite are gaining popularity due to their wide array of colors, durability, and resistance to scratches.
Revolutionary Kitchen Designs:
- White oak or vibrant-hued wood grain cabinets are the current craze.
- Beverage stations, catering to coffee or wine bars, are gaining traction.
Vibrant Colors and Patterns:
- Bold patterns such as stripes, checkerboards, and plaids are gaining favor.
- Neutrals are replacing gray, showcasing warmer tones like taupe, ecru, brown, caramel, and butter. Vibrant shades of blue, especially in tones like teal and aqua, are becoming widespread.
- Ornamental details like tassels, fringe, braids, and cords are in vogue.
Diverse Lighting Choices: Multiple lighting options, including chandeliers, wall sconces, and fixtures, are in style.
Character-Infused Elements: Anything adding character, like paneling and wainscoting, is trending.
Adorned Ceilings: Ceilings are receiving decorative touches with paint or special woodwork.
Bedroom Bliss: Layering is crucial in bedroom design, incorporating multiple layers of bedding, pillows, throws, upholstered furniture, and decorative lampshades.

Bidding Adieu to the Past:

Fading Trends:
- All-white interiors and mid-century modern design are losing favor.
- Granite counters, open floor plans, and minimalism are less popular.
Declining Design Aspects:
- Boxy and budget-friendly furniture, as well as oversized bathtubs, are becoming less common.
- Generic and hotel-style bedrooms are losing popularity.

In summary, 2024’s trend revolves around injecting more personality, color, and texture into home design while bidding farewell to the simplicity of the past.

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