Did You Know?
The majority of American homes have ducted central air conditioning systems that heat and cool homes uniformly throughout the space, regardless of where people are and differences in room temperatures. Flair sells a smart vent that can redirect air from one part of the house to another, effectively avoiding wasted energy and overcooling one room in order to get another to a tolerable temperature. Customers have told the company they’ve saved as much as 30% of their electricity bills by installing the system. The company’s devices are installed in 30,000 homes.
Have you checked to see if you have enough insurance coverage on your home? $400/sf of coverage is not an unreasonable amount for a typical home and it can go up from there! And if you're on the California Fair Plan (looking at you Laurel Canyon homeowners), if the Coverage A-Dwelling limit is not at least 80% of the replacement value of the property at the time of loss, the coverage will revert to an Actual Cash Value basis. That's not Market Value, that's Cash Value! And that means your home's depreciation will be factored in. If you've owned it for 25 years, it may have very little cash value. Call your insurance broker to check into this!
Looking ahead, Goldman Sachs' forecast model predicts a very faint increase in U.S. home prices as measured by Case-Shiller: +1.3% in 2023, followed by +1.7% in 2024, +2.4% in 2025, and +3.8% in 2025. To put this into perspective, the average annual growth rate of U.S. home prices since 1976 has been 5.5%, including an unprecedented surge of 19% in 2021. (Fortune) That being said, home prices are local, and the LA area is already seeing a healthy uptick during the summer months!
Featured Listing
How much is the White House worth? Since the original will never be sold, the closest we'll get to answering that question is this Compass/Buljan Group listing near San Mateo, California. A replica of the DC residence designed by famed architect Julia Morgan, this estate, built in 1915, is set on approx. 3 acres of lush land. In addition to an "Oval Office" and "East Room," it also has a home theater. Click on the image to see the listing and the asking price!
