Cynthia S. Radom - Award-Winning Seniors Real Estate Specialist

Cynthia's Real Estate Newsletter first came into print October 1999 as a vehicle to focus on the needs and interests of longtime homeowners. The first edition stated, "Even if you are not a Senior, statistics show that sooner or later you will be helping a parent or a friend make decisions about their real estate matters. If you are a trusted advisor to a Senior, this newsletter gives you insight into some of the special issues facing mature adults." Based on positive feedback, Cynthia's objective has been achieved for the Senior market: To educate longtime homeowners about their (presumably) biggest asset; their housing options; their tax saving advantages and their property concerns.

SMART HOME TECHNOLOGY
According to a recent survey, Gen X buyers are looking for "smart" homes.
Smart appliances and technology are becoming mainstream in homes throughout the country. Gen X buyers are most interested in home technology for the following categories: Security, Internal Environment Control, Safety, Lighting, Entertainment, and Appliances Read more...

Also in this issue:
"Birthing Houses"
New Water Laws 
No More McMansions

NEW LAWS FOR HOMEOWNERS
Learn about new energy efficiency rules from the U.S. Dept. of Energy, as well as LA's new "cool roof" law.
The U.S. Department of Energy has two new regulations involving air conditioning equipment and water heater replacements that take effect this year. And the City of Los Angeles enacted a new law affecting residential roofs for new construction and any roof replacement of more than 50%. Read more...

Also in this issue:
Boomers' Housing Crunch
What is a Home Warranty Plan? 
Zillow - Forget It! 

CHANGES TO PURCHASE CONTRACT
Unchanged since April 2010, a newly revised Residential Purchase Agreement (RPA) went into effect November 24, 2014.
The multi-page RPA is submitted by a prospect when offering to buy a single-family home or a one-unit income property. A different agreement is now used for purchases of two- to four-unit structures as part of the RPA changes. Read more...

Also in this issue:
Rent or Buy Next Time?
Moving 101: My Personal Experience
2015 CA Housing Forecast

WINNING IN MULTIPLES
High buyer demand and low inventory is making multiple offers the norm for any listing that is priced to sell.
Competing with another Buyer who pays cash and who can close quickly is causing havoc among would-be Buyers. However, winners don't always have the highest price, but may offer less hassle during the sale. Read more...

Also in this issue:
A Daughter's Story
Advance Review - a Must-Have for Today's Buyer
Becoming a Landlord

BREACH of CONTRACT
What really happens to the escrow money if the buyer defaults or breaches the contract?
Every real estate purchase agreement normally requires the Buyer to open escrow with 3% of the purchase price. If the buyer fails to complete the purchase, is the 3% deposit automatically given to the homeowner? Read more...

Also in this issue:
CA's Water Crisis
Subprimes are Back
Another Bubble?

Boomers Reshape Housing Market
Seventy-seven million people were born in the U.S. between 1946 and 1964, thus tagged the Baby Boomer generation.
Every seven seconds one Boomer turns 50, more than 12,500 every day. The last Boomers turn 50 this year and now, for the first time, are the largest Senior age group in terms of size and percent of the U.S. population. How Boomers will, and can, reshape the demand for housing is apparent. Is L.A. ready? Read more...

Also in this issue:
New Caregiver Law
Confession of an Ex-hoarder
Prices to Rise thru 2018

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2013 Rebound
Thanks to 2013, most property owners' equity is now in the black.
No one predicted, including national or state economists, real estate brokerage CEOs or other market analysts, that in 2013 SoCal home prices would rebound about 70% from the October 2008 financial crisis. Then again, no one predicted the financial crisis where home values plummeted 30-50% nationally causing a Buyer's market for the next four+ years, low selling prices and negative home equity.Read more...

Also in this issue:
Happy 100 Beverly Hills
C.A.R. Recap & Predictions
Emotional Seller Errors

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A 90-year-old Reflects
Reflections on Moving written by Edith Tolkin
"It was the tenth move in my (90 year) life and, as birthdays pass, moving does not get easier.  However, with a great REALTOR® and other moving assistants, my change went very smoothly...Deciding that I wanted to continue living a more social and stimulating lifestyle, the motivation to move was clear." Read more...

Also in this issue:
Important Propositions
Home Staging
Insuring a Living Trust

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10 SFRs + 636 Condos = 90067
Residential development in Century City is booming.
Three new projects will add ten homes and 636 condos to the 90067 zip code. Read more...

Also in this issue:
Seniors: Ease in New Underwriting Rules
Vacation Homes Are Up!

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Outlook: CA Housing Market
How high will prices rise, and can we continue the frenzy?
The last three months of 2012 felt like the good ol' days. Listings had multiple offers, buyers were out in droves, and inventory was scarce. Read more...

Also in this issue:
2013 New Laws
Top 10 Buyer Mistakes

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CA Seniors: Two New Taxes?
The "unearned" 3.8% tax and the "earned" .09% tax
Simply put, the amount of money that some California property sellers were going to put into their pocket is now going to support the Medicare Trust Fund. Read more...

Also in this issue:
Top Ten Seller Errors
Pre-approval Advantages

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Plan-of-Action Is Needed
Getting Ready to Move
Many Seniors stay in their family home for decades because the thought of moving is just too overwhelming. Like any major undertaking there must be a specific plan-of-action to reduce stress and to make moving easy. Read more...


Seniors' Influence
According to a recently released  NAR (National Association of Realtors) report, the aging Baby Boomers, people born from 1946 to 1964, will swell the nation's Senior population by 30 million over the next 20 years. Boomers are becoming Seniors at a rate of 10,000 per day or four million per year. Read more...

Water Conservation
California law requires owners of  property built before 1994 to install water-conservation plumbing fixtures by 2017 for single-family homes.  Other properties (multi-family and commercial) the fixtures must be installed by 2019. Read more...

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Rent Stabilization Ordinance
Los Angeles Landlords
Are you thinking of buying an income property in L.A. and living in one of the units?  What happens if there is an existing tenant in the unit of your choice?  Before you start looking at properties to buy, investigate L.A. tenant eviction relocation laws and fees should you (or some family member) want to take over. Read more...

Stubborn Tenant?
You listed your income property for sale.  But, you have an obstinate tenant who will not allow the Realtor® to enter their unit without the landlord when they are not home.  The following CA Civil Code Sections can be used to show your tenant otherwise. Read more...

Lenders Get Personal
Great news for L.A. and Orange county homebuyers.  The Congress and Senate voted to reinstate the elevated "jumbo" conforming loan limit on mortgages guaranteed by the government. Expected to remain in effect through 2013, the higher conforming loan limit of $729,500 (normally $625,500) is most beneficial in expensive neighborhoods. Read more...

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Mortgage Deduction May Go
Attention Borrowers
The L.A. Times reports that the new Federal debt ceiling plan could possiblyeliminate the mortgage interest tax deduction for homeowners. This could have significant financial implication for borrowers and for the real estate industry in general.  While no new taxes were imposed, lawmakers are seeking ways to increase revenue.  Read more...

Ready, Set, STOP!
Would-be home Buyers made real estate buying seem like a spectator sport this year. Realtors® and home Sellers alike were dazed as huge incentives were still not enough for pre-approved Buyers to make a deal. Low home values and bottom-of-the-barrel mortgage rates did not entice many prospects to write an offer. The L.A. Times called today's Buyer "spooked". Read more...

50 YEAR LOWS
Today's mortgage rates have not been this low since 1960. When gas was 25 cents per gallon; bread was 20 cents per loaf and the average cost of a house was $12,700. Helloooo, Buyers!!!

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Seller Financing
Earn Income As A Lender
Lack of jobs has been touted as the key factor affecting the U.S. economic recovery.  Lender financing is the key holdout to the housing recovery, even in CA. Buyers are struggling to get a mortgage despite adequate income. Lenders have gone from one extreme to another.  Pre-financial crisis, anyone could get a mortgage, plus extra cash just for the asking.  Boom!  The financial bottom fell out.
Read more

Avoid Buyer Mistakes
Today's borrower needs to be aware of the many lender changes before viewing a property, and review some old must-do standards to avoid Buyer mistakes.
Read more

Take Control
There comes a time when most people need assistance with daily living routines.  Whether you are a Golden-ager, or are responsible for the well-being of a Senior parent, now is the time to take action. People have a choice:  To take control of personal decisions or to wait until something happens and let someone else make decisions for you.
Read more

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Real Estate Lawsuits
Avoid by Disclosing
Property Buyers do not like to be surprised by undisclosed "material" facts after a sale has closed.  Most real estate lawsuits are the result of Sellers not telling the Buyer about all known (current and past) issues regarding the structure and the land prior to the close of escrow.
Read more

Double-Dip
Double-dip is this year's buzz word for another possible downward turn in the economy and housing prices.  Following the financial crash at the end of 2008 home prices fell about 30% throughout CA, restoring affordability to a once wildly overvalued market. 
Read more

Wood Woes
Each property sale normally includes a Wood Destroying Pest & Organisms Inspection conducted by a licensed inspector.  Each report, normally obtained by the Seller, is broken into two areas: Section One (evidence of issues) and Section Two (potential issues).  Sellers usually pay for the work in Section One, but this is negotiable.  Buyers are expected to pay for Section Two.
Read more

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