5 Great Places to Live for Young Business Professionals

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These Southern California neighborhoods are for those who love to work and play. We know that millennials and young business professionals are looking for more than just a place to lay their head at night when it comes to buying a home. Community, nightlife, and affordability are all top of mind, plus proximity to work and other job opportunities. We selected our top picks for young business professionals when it comes to living in Southern California. You’ll find that these communities boast the perfect blend of work and play. 

San Diego County

Little Italy

Little Italy is known for its diverse selection of restaurants, craft beers, and energetic nightlife. Its close proximity to the airport makes it a hot spot for young professionals both on the go and here to stay, and it’s just a short Uber ride to downtown San Diego’s Gaslamp Quarter, restaurants, and shopping. Though Little Italy’s residences are fairly new, the careful city planning and marketing that went into them have quickly made it a magnet for professionals and millennials.

Think you’ll love Little Italy? Search for your perfect home right now.

Orange County

Newport Beach

Though it is one of the pricier communities in Orange County, Newport Beach is full of top-earners who love to work hard and play hard. The community is perfect for those who keep an outdoor lifestyle, but is still accessible to thousands of major area employers that are just minutes inland. If you love the sun and sand, funky restaurants, and being near professionals who share the same tastes, then Newport Beach is the place for you. We suggest Balboa Peninsula, where you’ll find a variety of upscale and affordable for-sale and rental housing. If you talk to one of the agents in our Newport Beach office, we guarantee you won’t be able to resist making the move to Newport Beach.

Search for homes in Newport Beach today.

Los Angeles

Los Feliz

This community is full of young, smart, and driven professionals. You will find a mix of townhouses and luxury homes on the safe streets of Los Feliz. You may even find Ryan Gosling, who is a permanent resident of this trendy neighborhood. In addition to having quick access to downtown via the subway, Los Feliz is close to Griffith Park, where you’ll find hiking and horseback riding trails, Griffith Observatory, the Los Angeles Zoo, and Greek Theatre. When you’re not working or playing, you’ll likely be eating, and Los Feliz is home to many delicious and unique restaurants, with many boasting gluten-free and vegan menu options, and you may find that some are even within walking distance. Talk to an agent in our Los Feliz office today, and start searching for homes now.

Los Feliz homes are waiting for you here.

Santa Barbara County

West Santa Barbara

When you combine proximity to the beach, downtown, and city college, you’re bound to find tons of young professionals and recent graduates living in one area. Plus, rent and house payments have the potential to be relatively low, considering that you are living in Santa Barbara. You’ll find that buses and bikes are the main mode of transportation west of State Street. If you’re looking for more affordable housing, try the upper west side or downtown portion. If you’re a young professional already making the big bucks, though, you’ll find that West Beach and the lower west are much more affluent areas. Talk to one of our Santa Barbara agents today to see if West Santa Barbara is right for you.

Convinced that West Santa Barbara is right for you? Get started on your home search now.

Ventura County

Westside

Also known as “The Avenue,” this eclectic and diverse neighborhood of Ventura attracts millennials and professionals, due to the booming art scene, delicious cuisine, and proximity to shops, galleries, and downtown Ventura. Recreational activities include going to the ocean, downtown, or hiking on one of several trails in the area. Plus, on the first Friday evening of every month, several Westside galleries are showcased along a two-mile walk. Start talking to an agent in our Ventura office today if you’re ready to call the Westside home.

Search every home in Ventura now.

Visit Berkshire Hathaway for more articles regarding Southern California neighborhoods.

5 Great Places for Families to Call Home

If you have a growing family and are thinking about moving, you have a lot of other things to think about. What about the schools? The neighborhood culture? Proximity to shopping and entertainment? You probably have a good idea about what to expect in the areas you’re considering. Family and friends can help you decide, but it’s also a good idea to talk to a real estate pro because knowing everything about a community is essential to what they do for a living.

With more than 60 offices in five Southern California counties spanning the Central Coast to San Diego, there are plenty of great places for families to choose from. We are featuring one family-friendly community in each county.

San Diego County

Carlsbad

Carlsbad (La Costa Valley) is made for young families. One resident who lives there received 160 trick-or-treaters last Halloween. Homes are decorated for the holidays, and you can drive through the neighborhoods most days and see children playing dodgeball or tossing a ball in front of their homes. Carlsbad Unified School District gets consistently high reviews from parents. It has 10,993 students attending 16 schools in grades K-12. According to state standards, 76 percent of students in the district are considered proficient in math and/or reading. The district has an annual budget of $151,529,000, spending an average of $13,697 per student.

Search for homes in Carlsbad now.

Orange County

Cypress

Cypress is a diverse city of 49,000. Cypress High School had commendable three-year median API scores of 900. Cypress’s Oxford Academy, which admits top students from Cypress and several other cities, scored an outstanding 992 and is considered one of the top 10 public high schools in the country. Cypress is just five miles to Knott’s Berry Farm, Knott’s Soak City, and the Cerritos Center for the Performing Arts, and about 20 minutes from Disneyland. Nearby Cerritos has a large skate park, tennis club, and Los Alamitos Race Course.

Check out the Cypress homes that are for sale right now.

Los Angeles County

Tarzana

Tarzana is a neighborhood of 35,500 in the San Fernando Valley. And yes, it was named after the popular jungle character created by author Edgar Rice Burroughs that was adapted into a Disney animated film in 1999. What makes Tarzana a great neighborhood for young families is its strong economy, educated residents, and low crime rate. It is within the Los Angeles Unified School District, but is also home to Columbia College Hollywood, which teaches a variety of subjects related to film and TV. For young animal lovers, Red Barn Feed & Saddlery features all the tools you’ll need for raising pets, plus some animal adoptions.

Find your new home in Tarzana today.

Ventura County

Moorpark

Moorpark has a friendly, small-town feel, yet is close enough to Los Angeles to enjoy all the opportunities there for work and play. It is a 30-minute ride to Malibu and the coast. Moorpark has low crime, good schools, a Metrolink commuter rail station, plus numerous parks and hiking trails. The city of about 35,000 is completely surrounded by open space, parklands, and agriculture. Moorpark Unified School District is the largest employer in town. It has 6,812 students attending 12 schools in grades K-12. The district has an annual budget of $67,488,000, spending an average of $9,517 per student.

Make moves to move your family to Moorpark now.

Santa Barbara County

Carpinteria

Carpinteria fits the very definition of a of beachy surf town. Oozing with small-town charm, Carpinteria is known for its laid-back vibe and super-relaxed ambiance. The coastal city of 13,000 is just south of Santa Barbara. People move to Carpinteria because they commute to Santa Barbara for the lower cost of living, or they fall in love with the crisp and persistent waves that rock the beaches. Downtown Carpinteria has just a few stoplights and loads of fun restaurants and boutiques. The homes are more affordable than nearby Santa Barbara and Montecito. There is one high school, one middle school, four elementary schools, and a private preparatory school.

See what homes are for sale in Carpinteria today.

Visit Berkshire Hathaway's website for more articles.

Anti-Checklist: What Not to Do Until You Close Escrow

Take a list of things to avoid before you close on your new house.By Tara-Nicholle Nelson

Don't Close Any Accounts

It makes it look like you have less available credit. Pay accounts down to 30 percent, or pay them off if you insist, but DON'T close them!

Don't Make Any New Bills

New accounts create a FICO-reducing triple whammy of a new account/inquiry, an account with a short length of repayment history plus a high balance-to-credit limit ratio. (When you first open an auto account or installment account, you are already at your credit limit -- so it looks like you are maxed out.) The exception -- if you have no credit accounts at all, you should open one or two secured credit cards at your bank, then use them (up to 30 percent of the limit) and pay the bills on time every time.

Don't Buy a Car

See above. This also makes it harder for you to have a qualifying debt-to-income ratio, by increasing your debt without increasing your income. As a comedian once observed, "If you have a Land Rover and a landlord -- it's time to reverse your priorities."

Don't Pay Bills Late

You would not believe the number of people whose credit scores actually drop while they are house hunting because they make late payments. I've actually seen people who just barely got pre-approved have their FICO scores drop, find the house, make an offer, and then SURPRISE!! They no longer qualify for the mortgage because they have paid their bills late.

Click here to read the article.

Employment, Housing Market Point to Solid Santa Barbara County Economy

Rental market remains very tight, according to report by UCSB Economic Forecast ProjectBy Noozhawk, Tom Bolton

Santa Barbara County’s economy is doing fairly well in 2016. Employment is strong, the housing market has stabilized and wages are up.

That was the assessment offered Thursday during the annual Economic Summit presented by the UCSB Economic Forecast Project.

Several hundred people turned out at the Granada Theatre in downtown Santa Barbara for the morning-long program, which focused primarily on national and macro-economic trends.

But the annual report issued to coincide with the event included a trove of economic information about Santa Barbara County’s economy.

Of note was an increase in overall employment in the county in 2015 of 5,558 jobs, a gain of 2.8 percent and the largest rise since 2012.

The county’s unemployment rate declined to 5.1 percent, and statistical forecasts suggest it will drop further — to 4.9 percent by the end of the year.

The city of Goleta had the county’s lowest unemployment rate at 2.9 percent, while Lompoc had the highest, at 6.6 percent.

Other unemployment rates included Buellton, 3.2 percent; Santa Barbara, 4.0 percent; Carpinteria, 4.4 percent; Guadalupe, 4.8 percent; Santa Maria, 6.1 percent; and Solvang, 6.2 percent.

On the real estate front, the median home price for the county increased 17.5 percent from the previous year, to $676,494.

That growth rate was considerably larger than for the state (5.7 percent).

As prices rose, affordability fell in the county.

Only 23 percent of Santa Barbara County residents were able to afford the median-priced house, compared with 30 percent of residents statewide, and 58 percent nationally.

The surge in the housing market has made an already-tight rental-housing market that much more difficult, what the report’s authors called “not for the faint of heart.”

A vacancy rate of less than 1 percent contributed to an 8.7-percent spike in rents in 2015.

The report’s authors gave this assessment:

“As the prospect of owning a home becomes a fantasy, many local residents will remain renters indefinitely…Additional demand for high-quality rental housing is being generated by empty-nest Baby Boomers seek to simplify their lives by trading in the family home for a luxury apartment in a fun urban setting.”

Peter Rupert, executive director of the Forecast Project, discussed the ramifications of what he called income “unequality,” as opposed to inequality.

The county’s per-capita income gained 1.3 percent to $45,795 in 2014, the latest year for which figures are available.

The gains, he pointed out, were experienced more strongly by higher earners than those at the lower end of the economic scale.

Perhaps not surprisingly, northern Santa Barbara County has more people in the lower-income brackets, while the South Coast has more in the upper brackets.

This is due, in part, to the fact that the North County has vastly more agricultural workers, while the South Coast leads in governmental, professional and business services employees.

Thursday’s keynote speaker was James Bullard, president of the Federal Reserve Bank of St. Louis, who discussed U.S. monetary policy.

“U.S. labor markets are at or possibly well beyond reasonable conceptions of full employment,” he said.

He also noted that interest rates have remained low for the last several years, and global concerns — including the strong U.S. dollar — seem to be waning.

Inflation rates have remained below the target set by the Fed, he said, adding that “a gradual pace of rate increases over the next several years” is likely.

Read the full article at Noozhawk by Tom Bolton.

Good Reasons to Affiliate with Our Brokerage

Locally known, nationally recognized, globally respected. With California home prices remaining strong, and our state the No. 1 market of interest for residents of China seeking a home overseas, this is a great time for experienced and aspiring agents to affiliate with Berkshire Hathaway HomeServices California Properties.

By joining Berkshire Hathaway HomeServices California Properties, you not only have access to our world-class programs, support, and real estate services, but you also have the backing of the locally known, nationally recognized, and globally respected Berkshire Hathaway HomeServices name.

Our brokerage offers many reasons to join branches throughout Southern California. We’ve rounded up several of them here. If you’re interested, contact any of our office managers, or call 858.995.7575. We’re looking forward to meeting you.

A leading company

Berkshire Hathaway HomeServices California Properties is one of the top five brokerages among all Berkshire Hathaway HomeServices brokerages nationwide.

Results-oriented

Nearly $12.5 billion in sales volume last year with more than 14,000 transactions.

Always growing

We proudly support nearly 3,000 sales associates in more than 60 offices spanning the Central Coast to San Diego.

We select smart, experienced people

We offer in-depth training and access to the latest technologies and information to help you succeed. We promote a highly trained, technologically sophisticated and diverse sales force.

Commitment to integrity

We recruit associates and management talent committed to performance with integrity.

Networking abroad

We maintain relationships with an elite collection of international real estate networks, including:

• Proxio–An association that empowers you to easily market your listings worldwide, in 19 languages and 30 currencies, while connecting you with over 500,000 agents in more than 100 countries at no cost.
• Who’s Who in Luxury Real Estate–An exclusive network of brokers who list and sell in the top 10.
• Juwai.com–the No.1 Chinese international property portal, with over 2.6 million Chinese visits each month.

Mobile app

It’s easy for clients to search for properties and quickly connect with you through a personally branded mobile app.

Social presence

Find us on relevant social platforms like Facebook, Instagram, and Twitter where we share real estate content, company news, and even your listings.

E-newsletter

You and your clients will receive industry news, hot new listings, and more when you sign up for our biweekly newsletter.

Free downloads

Our exclusive agent portal provides you with customizable farming fliers, property fliers, open-house materials, and more for on-demand printing.

Photography and video

Professional production services are offered to our agents at special rates.

Print marketing

Discounted programs that provide the ultimate print exposure for you and your listings.

Exquisite presentation

A variety of exquisite presentation materials, recently redesigned and polished, are available to help you impress the most discerning clients.

Click here to read more about Berkshire Hathaway HomeServices.

Building Your #FamilyWealth

As the economy continues to improve, more and more Americans are seeing their personal financial situations also improving. Instead of just getting by, many are now beginning to save and find other ways to build their net worth. One way to dramatically increase their family wealth is through the acquisition of real estate.

For example, let’s assume a young couple purchases and closes on a $250,000 home in January. What will that home be worth five years down the road?

Pulsenomics surveys a nationwide panel of over one hundred economists, real estate experts and investment & market strategists every quarter. They ask them to project how residential prices will appreciate over the next five years. According to their latest survey, here is how much value that $250,000 house will gain in the coming years.

Over a five year period, that homeowner can build their home equity to over $40,000. And, in many cases, home equity is large portion of a family’s overall net worth.

Bottom Line

If you are looking to better your family’s long-term financial situation, buying your dream home might be a great option.

#HomeEquity Increasing As Home Prices Rise

Some Highlights:

• 91.9% of homes in the US have positive equity
• 256,000 homes regained equity in the third quarter of 2015
• 37.5 million homes have significant equity (defined as more than 20%)

How Long Does It Take To Save For A Down Payment

In a recent study conducted by Builder.com, researchers determined that nationwide it would take“nearly eight years” for a first-time buyer to save enough for a down payment on their dream home.

Depending on where you live, median rents, incomes and home prices all vary. By determining the percentage a renter spends on housing in each state and the amount needed for a 10% down payment, they were able to establish how long (in years) it would take for an average resident to save.

According to the study, residents in South Dakota are able to save for a down payment the quickest in just under 3.5 years. Below is a map created using the data for each state:

What if you only needed to save 3%?

What if you were able to take advantage of one of the Freddie Mac or Fannie Mae 3% down programs? Suddenly saving for a down payment no longer takes 5 or 10 years, but becomes attainable in under two years in many states as shown in the map below.

Bottom Line

Whether you have just started to save for a down payment, or have been for years, you may be closer to your dream home than you think! Meet with a local real estate professional who can help you evaluate your ability to buy today.

Make Anything A #KitchenBacksplash

From traditional tile to trendy glass — and shiny metal to rustic wood — there is seemingly no end of choices for kitchen backsplashes today. “Tile is still the most popular backsplash material, with natural stone a fast-growing second,” says John Morgan, 2013 National President of the National Kitchen and Bath Association. “But with the right installer, you can make just about any material work.”

Kitchen backsplashes no longer simply protect walls from spills and splatters, a wide array of eye-catching materials like glass, wood, metals and stone make the backsplash the focal point of today’s kitchens.

Expected #PriceGrowth Over 12 Months

In the monthly REALTORS^® Confidence Index Survey, NAR asks REALTORS^® “In the neighborhood or area where you make most of your sales, what are your expectations for residential property prices over the next year?” The map below shows the median expected price change in the next 12 months for each state, reported in the October 2015 REALTORS^® Confidence Index Survey Report. REALTOR^® respondents from Florida were the most upbeat, with a median expected price growth in the range of five to six percent. In Washington, Nevada, and Colorado, the median expected price growth among respondents was four to five percent.

Nationally, REALTORS^® who responded to the October 2015 survey expected prices to increase by 3.2 percent over the next 12 months (3.2 percent in September 2015; 3.0 percent in October 2014). REALTORS^® expect the recent strong price growth to moderate as rising prices have made homes “unaffordable” for many, with home prices almost at par with their levels prior to the housing downturn.

10 #BohoChic #InteriorDecorating Ideas

Colorful, luxurious and versatile, Boho chic style is perfect for spacious home interiors and small rooms. Boho chic ideas can help add luxury to small rooms, and create inviting and cozy home interiors in spacious living spaces. Here are some inspiring Boho chic ideas for modern interiors decorating and interior redesign in small spaces.

The Importance of #HomeEquity To Your Family

There has been much written about how dramatically home values have increased over the last several years. With the increase in values, comes an increase in the equity each home owning family now has. The Joint Center of Housing Studies at Harvard University recently reported that, after taking inflation into account, aggregate home equity has increased 60% since 2010. Home equity is the major component of most family’s overall wealth.

Why is this so important?

Throughout history, families have tapped into their homes for many important reasons. Perhaps it was to get seed capital to start a new business; perhaps to help finance their children’s college education; perhaps to get needed medical attention not covered by insurance.

Up to ten years ago, families were able to use the equity in their homes to better the living situation for themselves and their family. More small businesses were created. College students weren’t forced to take on massive student debt. People could get needed medical care.

This hasn’t been the case over the last ten years as families found themselves in a position of having zero equity or, even worse, negative equity post the housing collapse. However, that is about to change.

Using your home as an ATM is not a good idea.

We realize that there are inherent risks to tapping into the equity in your home especially if you do it for the wrong reasons. Back in 2005-2007, homeowners were using their homes as their own personal ATM machine to buy depreciating assets like cars, boats and jet skis. This reckless behavior should never be repeated.

However, using your equity (aka family wealth) to invest in yourself, your children or other family members that could use help still makes sense. And the good news is that more and more families can do this as home values continue to increase.

Bottom Line

Home equity gives families an additional financial option when money is needed. The proper use of this family wealth can be used to grow generational wealth.

As Julián Castro, U.S. Secretary of HUD, recently explained:

“Generation after generation, the primary vehicle to create wealth in our country has been through homeownership. In the U.S., homeownership has provided an opportunity for one generation to hand over to the next that opportunity and that wealth.”