THINGS TO DO WHILE YOU'RE STAYING AT HOME

Each day when my boy Rudy and I go for our walks, I see lots of people out there enjoying the paths and trails we are so lucky to have here at SCCL.  That's a great way to get some fresh air and exercise, while keeping a distance from others.  I know there are folks playing golf (1 per cart) and some playing pickleball with all due precautions, and I'm sure others have found creative ways to get out and get their bodies moving.  So, let's all keep that happening!

Truth be told, Rudy spends most of his day just chillin' and that's okay, too.  But, hey, he's a dog and that's what dogs do!

But, if you're just sitting at home and looking for something to do (in addition to whatever hobby you're currently working on), you might want to download some books or check out some of the great virtual tours and classes that can be found online.  Some of the suggestions below were shared by the Lifestyle Department here at Sun City Carolina Lakes. They are doing a great job of keeping us informed and engaged.  Thanks, FSR Lifestyle Staff!

Have any suggestions for virtual things to do?

Send them to me!
 

READ, WATCH, PLAY

Free Books, Movies, and Games

VIRTUAL TOURS

12 Frank Lloyd Wright Buildings


12 Virtual Museum Tours

5 National Parks Virtual Tours 

Virtual Disneyland Tours


Virtual City Tours

EXERCISE

Silver Sneakers Exercise Class 1

Silver Sneakers Exercise Class 2

Check out SilverSneakers.com

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 On a personal note...
My Virtual Activities to Date

Family Chat Nights 

Trivial Pursuit With Friends

 Thanks to Dar and Ted Finkelstein for gathering our trivia team for an evening of Trivial Pursuit

Informal Office Chat

Helen Adams Realty Staff Meeting

Friends Gab Session 

BINGO and other fun games with friends

5 Simple Graphs Proving This Is NOT Like the Last Time

Article Courtesy of Keeping Current Matters/The KCM Blog

With all of the volatility in the stock market and uncertainty about the Coronavirus (COVID-19), some are concerned we may be headed for another housing crash like the one we experienced from 2006-2008. The feeling is understandable. Ali Wolf, Director of Economic Research at the real estate consulting firm Meyers Research, addressed this point in a recent interview:

“With people having PTSD from the last time, they’re still afraid of buying at the wrong time.”

There are many reasons, however, indicating this real estate market is nothing like 2008. Here are five visuals to show the dramatic differences.

1. Mortgage standards are nothing like they were back then.

During the housing bubble, it was difficult NOT to get a mortgage. Today, it is tough to qualify. The Mortgage Bankers’ Association releases a Mortgage Credit Availability Index which is “a summary measure which indicates the availability of mortgage credit at a point in time.” The higher the index, the easier it is to get a mortgage. As shown below, during the housing bubble, the index skyrocketed. Currently, the index shows how getting a mortgage is even more difficult than it was before the bubble. 

2. Prices are not soaring out of control.
Below is a graph showing annual house appreciation over the past six years, compared to the six years leading up to the height of the housing bubble. Though price appreciation has been quite strong recently, it is nowhere near the rise in prices that preceded the crash.

There’s a stark difference between these two periods of time. Normal appreciation is 3.6%, so while current appreciation is higher than the historic norm, it’s certainly not accelerating beyond control as it did in the early 2000s.

3. We don’t have a surplus of homes on the market. We have a shortage. 

The months’ supply of inventory needed to sustain a normal real estate market is approximately six months. Anything more than that is an overabundance and will causes prices to depreciate. Anything less than that is a shortage and will lead to continued appreciation. As the next graph shows, there were too many homes for sale in 2007, and that caused prices to tumble. Today, there’s a shortage of inventory which is causing an acceleration in home values. 

4. Houses became too expensive to buy.
The affordability formula has three components: the price of the home, the wages earned by the purchaser, and the mortgage rate available at the time. Fourteen years ago, prices were high, wages were low, and mortgage rates were over 6%. Today, prices are still high. Wages, however, have increased and the mortgage rate is about 3.5%. That means the average family pays less of their monthly income toward their mortgage payment than they did back then. Here’s a graph showing that difference: 

5. People are equity rich, not tapped out.

During the crash, home values began to fall, and sellers found themselves in a negative equity situation (where the amount of the mortgage they owned was greater than the value of their home). Some decided to walk away from their homes, and that led to a rash of distressed property listings (foreclosures and short sales), which sold at huge discounts, thus lowering the value of other homes in the area. That can’t happen today.

Bottom Line

If you’re concerned we’re making the same mistakes that led to the housing crash, take a look at the charts and graphs above to help alleviate your fears.

Buying a Home: Do You Know the Lingo? [INFOGRAPHIC]

Infographic Courtesy of Keeping Current Matters/The KCM Blog

Some Highlights:

• Buying a home can be intimidating if you’re not familiar with the terms used throughout the process.
• To point you in the right direction, here’s a list of some of the most common language you’ll hear along the way.
• The best way to ensure your homebuying process is a positive one is to find a real estate professional who will guide you through every aspect of the transaction with ‘the heart of a teacher.’

SCCL AMENITIES BEING CLOSED DUE TO COVID-19

Message from the SCCL Board of Directors

March 13, 2020

Based on escalating concerns in the community and the Nation as a whole, the Sun City Carolina Lakes Community Association Board of Directors, in concert with our FirstService Residential Management team, have determined that the most prudent manner to help safeguard our community is to take the following unprecedented actions for the safety and wellbeing of the community. In the interest of the community and using an abundance of caution, the Association has decided to close the Lake House, Lodge and Woodworker’s Shop, also cancelling all community sponsored events.  All outdoor amenities are closed for organized activity, however personal use is at resident’s own risk.  This closure is currently effective for a 30 day window, starting Saturday, March 14 through Friday, April 10.  Your Board and management team are meeting frequently to evaluate the current conditions and will make adjustments accordingly. 

Just Listed in Sun City Carolina Lakes

VIRTUAL TOUR

REAL ID in South Carolina

3/26/2020 UPDATE
Due the COVID-19 pandemic and current national emergency declaration, the deadline for REAL ID has been extended.  For update from Homeland Security click HERE.

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"Beginning October 1, 2020, your South Carolina driver's license or identification card must have a gold star to show it's a REAL ID in order to use it as your identification to board a domestic, commercial flight, enter a secure federal building, or visit a military installation*. Purchase yours today and avoid longer lines in the future."
- SCDMV 

"New South Carolina driver's licenses and identification cards, some of which are compliant with REAL ID, are now available for purchase. There’s been no change in the price of any card the SCDMV issues. The new cards are valid for no more than eight years.  A REAL ID will be your license or your ID. You are not issued separate cards. Either you will hold a REAL ID license, REAL ID ID (no driving privileges), standard license that says "Not for Federal Identification," or a standard ID (no driving privileges) that says "Not for Federal Identification." A gold star on your license or ID designates it as a REAL ID.  Regardless of whether you buy a REAL ID or not, you must still have an unexpired US Passport to travel internationally."
- SCDMV
  
Complete information can be found at the South Carolina Department of Motor Vehicles. 

Impact of the Coronavirus on the U.S. Housing Market

Article Courtesy of Keeping Current Matters/The KCM Blog

The Coronavirus (COVID-19) has caused massive global uncertainty, including a U.S. stock market correction no one could have seen coming. While much of the news has been about the effect on various markets, let’s also acknowledge the true impact it continues to have on lives and families around the world.
 
With all this uncertainty, how do you make powerful and confident decisions in regard to your real estate plans?

The National Association of Realtors (NAR) anticipates:

“At the very least, the coronavirus could cause some people to put home sales on hold.”

While this is an understandable approach, it is important to balance that with how it may end up costing you in the long run. If you’re considering buying or selling a home, it is key to educate yourself so that you can take thoughtful and intentional next steps for your future.
For example, when there’s fear in the world, we see lower mortgage interest rates as investors flee stocks for the safety of U.S. bonds. This connection should be considered when making real estate decisions.
According to the National Association of Home Builders (NAHB):

“The Fed’s action was expected but perhaps not to this degree and timing. And the policy change was consistent with recent declines for interest rates in the bond market. These declines should push mortgage interest rates closer to a low 3% average for the 30-year fixed rate mortgage.”

This is exactly what we’re experiencing right now as mortgage interest rates hover at the lowest levels in the history of the housing market.

Bottom Line

The full impact of the Coronavirus is still not yet known. It is in times like these that working with an informed and educated real estate professional can make all the difference in the world.