As the year winds down, homeowners in SoCal have much to be thankful for. Start with the return of mortgage rates below 4 percent. The Federal Reserve cut interest rates three times this year over uncertainty about the trade war and slowing global growth.

Just one year ago, the central bank was on a steady march to raise rates, lifting mortgages to a 5 percent peak in October 2018. The run up in rates nearly brought real estate sales to a halt, and it wasn’t until Fed cuts brought back lower rates this year that the market found its legs and took off again in Spring.

Homebuyers and sellers alike benefit from attractive financing options that help keep monthly payments affordable, especially here in pricy SoCal. As long as the Federal Reserve keeps our economic expansion humming with lower interest rates, the real estate market and property values will hum along too.

We can be thankful that our foothill communities of the East San Gabriel Valley and Inland Empire have been spared so far this fire season. Many cities have properties in the wildland-urban interface, nestled in beautiful foothill and canyon locations that are at high risk for wildfire.

Homeowners should be thankful to still be able to obtain fire insurance, even as you open renewals to higher premium notices. As California faces more destructive fires every year, insurance companies are opting to stop writing policies in high fire risk zones, and future homebuyers will have to decide if the beauty of the setting is worth the price of the fire insurance premiums they will pay to cover the property.

And yes, we have to be thankful for the weather. Because despite having to watch media coverage of California hills and canyons burning every time the Santa Anas winds blow, we do live in a golden state with some of the most scenic real estate in the country, and a mild Mediterranean climate with winter storms that require little more than carrying an umbrella.

Our sensationally sunny weather attracts people from all over the world who want to live and work here. California now has the lowest unemployment rate in 40 years, with employment numbers at an all time high. Good jobs, great weather and golden property values, we can all be thankful for living the California dream!

Adriana Donofrio • deasypennerpodley Glendora (626) 926-9700 • adonofrio@dppre.com