Homeowner’s Net Worth Is 45x Greater Than A Renter’s

Every three years, the Federal Reserve conducts a Survey of Consumer Finances in which they collect data across all economic and social groups. The latest survey, which includes data from 2010-2013, reports that a homeowner’s net worth is 36 times greater than that of a renter ($194,500 vs. $5,400).

In a Forbes article, the National Association of Realtors’ (NAR) Chief Economist Lawrence Yun predicts that by the end of 2016, the net worth gap will widen even further to 45 times greater.

The graph below demonstrates the results of the last two Federal Reserve studies and Yun’s prediction:

Put Your Housing Cost to Work for You

As we’ve said before, simply put, homeownership is a form of ‘forced savings.’ Every time you pay your mortgage, you are contributing to your net worth. Every time you pay your rent, you are contributing to your landlord’s net worth.

The latest National Housing Pulse Survey from NAR reveals that 85% of consumers believe that purchasing a home is a good financial decision. Yun comments:

“Though there will always be discussion about whether to buy or rent, or whether the stock market offers a bigger return than real estate, the reality is that homeowners steadily build wealth. The simplest math shouldn’t be overlooked.”

Bottom Line

If you are interested in finding out if you could put your housing cost to work for you by purchasing a home, let’s get together and evaluate your ability to buy today!

 Information provided by Matt Goeglin with Fidelity National Title Company.

Renting vs Owning

 Greetings and Happy New year!!
“As a renter, you can easily spend half a million dollars or more on rent over the years ($1,500 a month for 30 years comes to $540,000), and in the end wind up just where you started — owning nothing. Or you can buy a house and spend the same amount paying down a mortgage, and in the end wind up owning your own home free and clear!”  David Bach
Make it a great Thursday!!
Matt

Information provided by Matt Goeglein with Fidelity National Title Co.

Holiday and Winter Fire Safety 

Residential fires take their toll every day, every year, in lost lives, injuries, and destroyed property. The fact is that many conditions that cause house fires can be avoided or prevented by homeowners. Taking the time for some simple precautions, preventive inspections, and concrete planning can help prevent fire in the home – and can save property and lives should disaster strike.

  • Check holiday lights for fraying or broken wires and plugs. Follow the manufacturer’s guidelines when joining multiple strands together, as a fire hazard could result from overload. Enjoy indoor holiday lighting only while someone is home, and turn them off before going to bed at night.
  • Candles add a welcome festive feeling, and should be placed in stable holders and located away from curtains, drafts, pets, and children. Never leave burning candles unattended, even for a short time.
  • Live Christmas trees should be kept in a water-filled stand and checked daily for dehydration. Needles should not easily break off a freshly-cut tree. Brown needles or lots of fallen needles indicate a dangerously dried-out tree which should be discarded immediately. Always use nonflammable decorations in the home, and never use lights on a dried-out tree.
  • All electrical devices including lamps, appliances, and electronics should be checked for frayed cords, loose or broken plugs, and exposed wiring. Never run electrical wires, including extension cords, under carpet or rugs as this creates a fire hazard.
  • Fireplaces should be checked by a professional chimney sweep each year and cleaned if necessary to prevent a dangerous buildup of creosote, which can cause a flash fire in the chimney. Cracks in masonry chimneys should be repaired, and spark arresters inspected to ensure they are in good condition and free of debris.
  • When using space heaters, keep them away from beds and bedding, curtains, papers – anything flammable. Always follow the manufacturer’s instructions for use. Space heaters should not be left unattended or where a child or pet could knock them over.
  • Use smoke detectors with fresh batteries unless they are hard-wired to your home’s electrical system. Smoke detectors should be installed high on walls or on ceilings on every level of the home, inside each bedroom, and outside every sleeping area. Statistics show that nearly 60% of home fire fatalities occur in homes without working smoke alarms. Most municipalities now require the use of working smoke detectors in both single and multi-family residences.
  • Children should not have access to or be allowed to play with matches, lighters, or candles. Flammable materials such as gasoline, kerosene, or propane should always be stored outside of and away from the house.
  • Kitchen fires know no season. According to the U.S. National Fire Protection Association, 46% of reported home fires in 2015 were caused by cooking. Grease spills, items left unattended on the stove or in the oven, and food left in toasters or toaster ovens can catch fire quickly. Don’t wear loose fitting clothing, especially with long sleeves, around the stove. Handles of pots and pans should be turned away from the front of the stove to prevent accidental contact. Keep an all-purpose fire extinguisher within easy reach. Extinguishers specifically formulated for grease and cooking fuel fires are available and can supplement an all-purpose extinguisher.
  • Have an escape plan. This is one of the most important measures to prevent death in a fire. Visit ready.gov for detailed information on how to make a plan. Local fire departments can also provide recommendations on escape planning and preparedness. In addition, all family members should know how to dial 911 in case of a fire or other emergency.

Pillar To Post South Bay wishes you and your clients a happy and safe holiday season.

Source: http://myemail.constantcontact.com/Holiday-Fire-Safety.html?soid=1102694185479&aid=TpqE13jZ2G0

Don’t miss these Weekend Concerts in Marina del Rey this month!

November 5th –                  Bob Desena (Latin Jazz)

November 6th –                  Susie Hansen Latin Band (salsa)

November 12th –                  Friends (R&B)

November 13th –                  Jimi Nelson & The Drifting Cowboys (country-rock)

November 19th –                  Jimbo Ross & The Bodacious Blues Band

November 20th –                  Shades (jazz funk)

November 26th –                  Upstream (reggae, ska)

November 27th –                  2 Azz 1 (jazz funk)

All concerts will take place at the same time 1:00-4:00 pm at 13755 Fiji Way in Marina del Rey. Free two-hour parking with validation

ENJOY!

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Information provided by http://www.visitmarinadelrey.com/ . Check out the website for more info.

Haunted Nights at Burton Chace Park

Come enjoy a spook-takular Halloween weekend at Burton Chace Park in Marina del Rey! Suitable for ages 13+, families can expects loads of fun, games, and activities ranging from zombie pirate filled ships to pumpkin carving demonstrations. All in the wonderful spirit of Halloween. Put on your costumes and head down to Burton Chace Park this weekend!

SAVE THE DATES: October 28-30th

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For more information on this event visit: bit.ly/2dHOiIO