Roadmap with Irina - February 2023

MARKET SNAPSHOT

Hi << Test First Name >>,

The real estate market in January 2023 was the slowest market that I can remember. Take a look at the table below and see the number of homes and condos sold this January compared to the last two years. The lack of inventory, high interest rates, and announced layoffs reflected on the buyers’ activity. Yes, prices dropped compared to January of last year, but they are still higher than in the same month in 2021. But for the last two weeks, the picture has changed: there are more serious buyers visiting open houses, houses stay on market for less than 10 days if they are priced correctly, and most properties receive multiple offers. I heard of 8-20 offers on one home, which leads to competition and higher sale prices. Based on all these signs, it looks like the spring market will be busy again. I know, the media continues to preach about the market going south, but don’t forget, they rely on statistics that are at least a month old, and the market changes very quickly.

If you are thinking about buying or selling, let’s connect, talk about your options, run some numbers, and see if this is the right time for you. Call me, I am always here for you.

Questions? Comments? Contact me!

HOME INVENTORY CHECKLIST

Your homeowner’s insurance typically provides coverage for the things in your home, up to a specific limit. In the event of a covered loss or damage, you’ll want to be able to provide a list of all your personal property that was damaged or stolen, along with the estimated value and age at the time of loss.

If something were to happen today, would you have this information available? Have you purchased any new items since you moved into your current home? Would you be able to remember every item in your home and the approximate value? An accurate and up-to-date inventory list with proof of ownership could make the claim settlement process faster and easier.

What to do:
- Start now even if your information is incomplete. A good home inventory includes a detailed list of your possessions, including receipts, descriptions, and photos of your home contents.
- Start with new purchases and add older items as you go.
- Group your possessions into logical categories. (e.g., by hobby, by room in your home, etc.)
- Describe the item in detail (Brand, model, size, serial number, etc.) This will ensure the item is valued correctly.
- Keep a detailed record of antiques, jewelry, major appliances and collector’s items.
- Scan and store copies of invoices for large items purchased in case proof of ownership is needed.
- Photograph or video each room in your home, including inside closets, storage buildings, the attic, and the garage. Open drawers and photograph the contents. Label and date when the photographs or videos were taken.
- Don’t miss items you rarely use, such as holiday decorations, sports equipment and tools.

Storing your Home Inventory List
- Save a copy with photographs, video and documents in the Cloud or safe deposit box.
- Keep a copy in a fireproof container.
- Give a copy to a trusted family member who doesn’t live in your home.
- File a copy with your insurance agent.
- Keep an electronic version stored in your personal email so you access it wherever you can log into your email account.

Updating Your Home Inventory
It is a good idea to update your Home Inventory list annually to include any new items and also to remove items that you no longer have. You may want to update it whenever you purchase a new high-value item.

So I highly encourage you to start your home inventory list today and keep it up to date. You can find a template here. As you know, it is better to be ready for an unfortunate event and hope that it will never happen than to be sorry later that you were not ready. Let me know if you have any questions or concerns.

HIGH SCHOOL STRUGGLE

This week I was at a meeting in De Anza College for high school students and parents about the middle college program. If you don’t know, it’s a program for high schoolers that allows them to graduate from high school and also concurrently take college classes. They accept 30 juniors and 30 seniors every year out of 100+ applicants, and this is a 2-year commitment. One of my daughters is in high school now, and another one will be there next year. My older one is very interested in this program, she already applied and got referral letters from her teachers, so she is very committed and looking forward to getting in.

At that meeting, there was a group of teenagers currently attending this middle college program, and they talked about why they joined and how they like it. They were very happy with this program and all of them said that it was the best decision that they made. One thing that impressed me the most: all of them said that teachers in this middle college program really care for them and spend extra time helping the students learn and understand the material. It made me sad because this is how it is supposed to be in every school with every teacher, isn’t it? The #1 reason why my daughter wants to leave school and join this middle college program is because teachers at school do not teach, they just give them material for self-learning and then give tests. And this is not just in her school! Because of that parents have to find tutoring help outside of school to help kids stay afloat with the high standards that schools have. We live in an area with high-ranked schools, but this rating is the merit of parents and students first of all.

It is very sad to see my daughter turning from a happy learner as she was in middle school to a person who hates school and struggles no matter how much time and effort she spends. She is also a serious athlete and practices every day and competes on weekends for school during the season, so she doesn’t have time for taking extra academic classes. She is self-disciplined and knows what she wants, but it is very hard to stay motivated when there is no support from teachers. My daughter says that she only has one teacher who spends their time explaining new material and making sure students understand. Only one! This is very sad.

I am not here to complain about school or to try to change the system, but it would be a much better picture if everyone does his or her job: teachers teach, students learn and succeed in school, and parents love and support their kids. I really hope that my daughter will be accepted to this middle college program, so she will enjoy learning and be herself again. Enjoy your school break and have fun with your teenagers!

Always yours,

Irina