Category: Blog
According to Deborah Crowe of the Los Angeles Business Journal, The Federal Realty Investment Trust bought a controlling interest in Plaza El Segundo, a 381,000-square-foot retail property at the northeast corner of Sepulveda Boulevard and Rosecrans Avenue in El Segundo. The Trust also bought an adjacent, vacant 8.1-acre property for future development. Read More
Our award winning float Had the time of my life riding on the Torrance Float at the Rose Parade. It was an honor. ... Read More
123rd Tournament of Roses Parade | City of Torrance’s 58th entry | “Looking Back – Moving Forward” Riding on this year’s Rose Parade float will be Torrance City Councilman Gene Barnett and his wife, Linda (former City Treasurer); Torrance City Clerk, Sue... Read More
You have your down payment money put away, you think that your credit is tops and everything is a go to start looking for that new home in El Segundo you have been dreaming about. What could go wrong or what can stop you now? The keys to your dream home are as good as being in your hands, right? WRONG ! In this tough financial climate, some unexpected issues might scuttle the any deal you might put together and you need to be aware of what can go wrong. The tight financial climate has changed many of the things we took for granted for many years and today there is a crop of new concerns for those trying to buy a home. Such as the appraisal and Lenders holding up closing. Read More
At one time or another all of us get involved with painting, either our home, garage, a piece of furniture, or something. Many people need to Paint their home before they put on the South Bay real estate market. And in these times need to do it themselves for the first time. What kind of paint to use for each job is always a question, and few of us seek out expert advice before we start and many times we end up with something that we didn't expect or want. This is an attempt to help those with little or no painting experience to better understand the different kinds of paints, brushes, rollers and the best applications to use around the house. • AREA AND TYPE OF PAINT TO USE: 1. Kitchen and bath: Choose a moisture- and peel-resistant satin or semigloss with mildewcides. 2. Ceiling: Paints labeled for ceilings are thicker and less splatter-prone than wall paint. They are also extra flat to cut glare from lights. 3. Entry, stairway, and family room: Durable, easy-to-clean 100 percent acrylic latex in an eggshell sheen will stand up to high traffic and fingerprints. • TYPES OF PAINT: 1. Flat/Matte: A low-luster sheen that provides even coverage and helps conceal flaws but is hard to clean. 2. Eggshell: This soft sheen is easy to touch up and can be wiped clean without burnishing. 3. Semigloss: A slightly shiny finish that's glass smooth, durable, and washable. 4. Gloss: This light-reflecting sheen can take a beating but does highlight surface imperfections. • SPECIAL EFFECTS PAINT: 1. Textured: Sand-like granules cover flaws in walls and impart a rustic look. 2. Metallic: Light-reflecting pigments give walls shimmer. 3. Pearl: An iridescent glaze with a milky glow. 4. Suede: Microscopic beads create a soft, fabric-like finish that adds depth and texture to walls. • QUALITY: 1. Paint: Quality depends on the type and amount of pigment. High percentages of titanium dioxide pigment, rather than cheaper calcium carbonate, provide better coverage with fewer coats. 2. Primer: A 100 percent acrylic formula helps paint grip surfaces, hides stains, and allows you to go from a dark color to a light one with fewer coats. • HOW MUCH TO PURCHASE: Divide the square footage of your wall surfaces by the coverage per gallon listed on the can. Example: A 20-by-23-foot room with an 8-foot ceiling is 688 square feet; 688 ÷ 350 square feet of coverage per can = 2 gallons (make it 4 gallons for two coats). • SUPPLIES AND EQUIPMENT: Prep: tape, drop cloth, sandpaper, etc. Tools: brush, roller, pan, cover, etc. Paint: sealer, primer or prep coat, paint • TYPES OF ROLLER COVERS: 1. Smooth roller, ¼-inch nap: Best for semigloss or gloss on smooth drywall or plaster walls. 2. Semi-smooth roller, ?-inch nap: Best for semigloss, flat, or eggshell on lightly textured plaster or wood-paneled walls. 3. Rough roller, ¾-inch nap: Best for flat or eggshell on highly textured stucco or masonry walls. Rollers: Blended-fiber covers combine the extra pickup of wool with the durability of polyester. • TYPES OF BRUSHES: 1. 1-inch angled brush: Best for details, such as moldings and window muntins. 2. 2½-inch angled brush: Best for window and door casing, cabinetry, and cutting in. 3. 3-inch straight brush: Best for large expanses, such as wainscoting and doors. Brushes: Tapered bristles with split ends that are solid—not hollow—pick up and spread paint best. • PREPARATION: HOLES AND CRACKS: Fill holes with drywall compound. For hairline cracks, widen with a utility knife before covering with fiber-mesh tape. Coat the tape with joint compound, let dry, and sand—recoat and sand two more times. • ROOM PAINT CHECKLIST: 1. Remove window treatments, wall-hung art, area rugs, outlet and switch-plate covers. 2. Cover furniture with drop cloths. 3. Wrap chandeliers and sconces in plastic sheeting. 4. Protect window and door hardware by removing or covering with tape. 5. Sand walls and trim. 6. Dust with a tack cloth. (Treat plaster with a solution of 1 pint vinegar and 1 gallon of water.) 7. Tape exposed outlets and switches, or, remove plates, window panes, HVAC vents, and any other areas you want to keep paint-free. Note: plastic tarps will protect items, however, paint will lay on the surface of the plastic and can be tracked onto carpeting or floors if you walk on the plastic. Best to use a canvas type tarp or a cheap way is to purchase flannel backed, cheap table clothes at a dollar store and discard after use. Face the flannel backed surface up to catch paint. Miscellanneous: • USING A LADDER: DO stand on a low rung, with your body centered between the ladder rails and both feet firmly planted. Keep one hand free, using the ladder tray to hold your pail. DON'T stand on one of the top two rungs or overreach; both can throw you off balance. Never paint with one hand while holding your pail in the other, preventing you from easily grabbing the ladder. • AVOID REPETITION: Putting paint on the wall is easy, but the repetition can leave you feeling achy. Prevent the pain by changing your grip or the way you move. 1. Roller: Roll up at a slight angle before coming straight down. 2. Brush: Pinch the base of the brush with your index finger and thumb along the bottom of the ferrule. 3. Extension pole: Space your hands about 18 inches apart. For ceilings, roll the area in front of you, rather than directly above or behind, to avoid back strain. 4. For walls, bow down and stretch up from the waist. • BE ORGANIZED AND HAVE A PLAN: When you start your painting, work in this sequence to minimize the chance of marring already painted surfaces. 1. Ceiling 2. Walls 3. Doors 4. Trim • Start by cutting in with a brush. Next, use a roller to fill the wall expanse. Make W shapes to release the most amount of paint from the roller, then go over the area with vertical strokes to evenly distribute it. Work in 3-by-3-foot sections to keep a wet edge and avoid lap marks. • MESSES: 1. Drips on the floor: Remove latex with a water-dampened rag; use mineral spirits for oil paints. Scrape dried blobs with a utility knife. 2. Bubbles on drywall: Pop and scrape off with a putty knife. Then sand the area with 330-grit paper, tack it with a damp cloth, and use a foam pad for touch-ups. 3. Lap lines on plaster or drywall: Repaint the area, applying light pressure on a roller that has soaked up only a quarter of a full load of paint. • SAVING LEFTOVER PAINT: Keep paint in an airtight glass jar is a popular way, however most people keep their leftovers in the original can. If using the can, clean top and fit tight. If using a jar: To get a better seal, cover the opening with plastic wrap before screwing on the cap. Store the jar, or paint can, off the floor in a cool, dry place for up to 5 years, some brands more. • KEEP A RECORD OF THE PAINT COLOR: Paint an outlet cover and affix painter's tape with the color name and number on its back. If you ever have to buy more paint, simply remove the cover and bring this handy "chip" to the store to get an exact match to the aged version on your walls. • CARE FOR BRUSHES: Soak synthetic brushes in warm water (use turpentine for natural bristle brushes) and gently wring out. Run a metal brush comb through bristles to straighten them and remove any last bits of paint. Shake out excess water, reshape bristles with your fingers, and lay flat to dry. Store in original packaging or folded newspaper, and either lay flat or hang brushes from their handles. • OTHER TIPS: 1. To prevent paint spray on baseboards when rolling walls, wipe them down with a wet rag to keep spatter from sticking. When you've finished rolling, run the damp rag along baseboards once more to wipe away any droplets. 2. Breathe out or hold your breath while cutting along trim or where walls meet—"It'll help you keep a straight line." Up high, be sure to stand squarely on your ladder instead of overreaching. 3. When cutting in on textured walls or ceilings, vibrate your hand a little to get bristle tips into uneven surfaces. 4. To avoid fatigue, switch hands when cutting in—think of the brush as an extension of your arm. And don't push too hard when you're rolling. 5. Finally, don't run your brush or roller dry. "When you can see through the paint—what painters call 'holidays'—you've gone too far." Read More
In recent years it has become well known that many South Bay real estate professionals will advise a homeowner to use a home staging person to dress up a home and make it more appealing for any potential buyers. These staging techniques have become popular and are successful in many cases. The stagers will rearrange furniture to make rooms look bigger and bake cookies to fill the air with a homey aroma, and use other tactics to make the house look like something that it isn’t. Smart homebuyers, however, should look beyond these techniques and look at the house from a realistic standpoint. The basic premise of staging is to make the house more presentable, but potential buyers must look beyond that and get serious because this may be the biggest investment they will ever make. Buyers must be able to uncover the real house behind the staging. Here are a few tips: Beware of Home staging Techniques Before and After FLOOR PLAN: Is this the plan you like and does the layout of the house fit your plans? An example: If the kitchen is a little small, can you remodel it later, or is it in the center of the house and impossible to remodel? If the children’s bedroom is located in an area too far from the master suite would you be able to hear them, or get to them in an emergency? Many buyers want a big house with many rooms, but can they afford to furnish all of the rooms? Buyers also need to think about the cost of utilities and maintenance on a larger home. If the land parcel is excessive, can you afford the yard maintenance costs? Stagers and builders will often remove interior doors to make the home seem airy and open during open houses. When the doors are put back in place, the rooms will seem smaller and closed in. A buyer must consider all of the furniture and possessions they have and decide whether it will all fit or not. CHECK OUT LITTLE DETAILS: Buyers must check out the little details that most people overlook. Check the furnace air filter. Is it a mess, clogged? This could be an indicator that the sellers have not done too much routine maintenance on the home. Buyers should check under the sinks to look for water marks from old leaks and make a list of things to have a home inspector check out more thoroughly. They should move furniture and rugs and check underneath for any damages or water stains. Do not be afraid to move things around and to ask questions that you might think embarrassing to the sellers. Are the doors solid or hollow core? What you find may indicate what type of materials the sellers have used throughout the house. What is the quality of the kitchen cabinets, bath cabinets, vanities and trim? Are the light fixtures old? What about the wiring in the house? CHECK WINDOWS AND LIGHTING: This is something that most buyers never do. They should come back at different times of the day, and night, to see how much light there is coming in through all windows, and does the house have good lighting at night. Many houses do not have overhead lighting in each room. Buyers should open and close every window to be sure they work. Buyers also should check on the view and the size of the window. Home stagers will sometimes place large curtains over a small basement window to make buyers think the window is bigger. OTHER LITTLE DETAILS TO CHECK: Is there a musty odor in the house, or is there only the smell of room fresheners? This could indicate a mold or mildew problem which could cost a lot of money later on to fix. If the house has a fireplace, it might need cleaning. If it has a basement, it might have a moisture problem casing the odor smell. GO TO OPEN HOUSES PREPARED TO GET THE FACTS: When potential home buyers go to look at a home, they should be prepared to ask questions and write down what they find on each place they see. Buyers should always take a notebook, tape measure, flashlight and a camera on all house hunting trips. If you travel, where will you put all of those suitcases you have, or where will you store your bike? Where will you keep all of your children’s sports equipment? Buyers should recognize that they don't have to do any of these things unless they really like a certain house and are seriously considering making an offer, and they also should go back and check the house several times and check out the neighborhood at different times of the day and night for traffic, noise, neighbors parties, etc. Read More
If you have a Bank of America loan …and are considering a HAFA Short sale … here are changes to the process … In a HAFA Short Sale, the borrower/home owner, may be eligible for a $3000 moving credit at the close of escrow. Read More
There are several types of mortgage lenders for those who are seeking financing for either buy a home or refinance a home. Each type of lender has its advantages and dis-advantages, but anyone getting ready to buy a home, or refinance their home, should be aware of the financing options that exist in the real estate market today. Most all lenders who do mortgage loans are going to require the same application package from the borrower, and accompanying documents as most loans are sold by the lenders to Fannie Mae or Freddie Mac, so all mortgage financing requires the same paperwork and borrower qualification standards. 1 BANKS Advantages: Regulated by state and federal agencies Current banking relationship can get you a reduced mortgage rate Numerous branches provide you with face-to-face access Disadvantages Limited to products only the bank has to offer May not have the best rates May lack negotiation leverage when it comes to publicized rates 2 MORTGAGE BROKERS Advantages Access to a variety of mortgages and lenders Can save you money by shopping for the best rates Can quickly find another lender if your loan initial application is turned down Disadvantages Some function as the lender's agent and have the lenders best interest at heart Free to set their own pricing and may mark-up wholesale rates to whatever they want Service may vary from broker to broker 3 HOME BUILDERS & REAL ESTATE DEVELOPERS Advantages Good way for the first-time home buyer to qualify The buyer does not take title to the property until the home is completed Disadvantages May favor certain lenders who offer higher rates Can pressure you into getting their loan instead of using a different lender 4 INTERNET LENDERS (ONLINE LENDERS) Advantages Allows you to shop for competitive rates online Disadvantages A greater learning curve for the borrower to understand the lending process The most common source of home lending is a retail financial institution, like a bank or credit union. They offer specific loan products and handle their own direct financing. Mortgage Brokers, act as the loan processors, taking care of everything needed to get the loan funded, like ordering appraisals, getting credit reports, opening escrow, and other details. Mortgage Brokers don't fund the loans themselves, but handle the mortgage financing arrangements for the borrower. Most Brokers earn their fees (called points) from the lender, and in some cases from the borrower also, or a combination of both. Since mortgage brokers have access and work with a wide variety of banks, credit unions, and other sources of financing, they are usually on top of the latest rates, fees and lending practices, and know who has the best overall mortgage loans to meet each individual loan requirement. Mortgage Brokers also know which lender will best match the borrowers financial qualifications. Home builder, or home developer financing is common in new home developments where there is a single builder. The builder carries the construction costs until the homes are built and are ready to be sold and permanent financing put in place to pay off the construction loan. The builder works with a lender to set-up financing for the buyer and finances the construction costs. The buyer doesn't make mortgage payments until the home is completed and bought off by the building department, and approved as complete by the construction lender. Read More
People make a decision to purchase a home or piece of South Bay real estate without any consideration of their ability to be able to make mortgage loan payments in case of an emergency or a major life change like an illness, loss of employment, divorce, or other unforeseen circumstances. The top three reasons people file for bankruptcy are change of job status, divorce, and unforeseen health expenses. If you face any of these challenges and don't have a financial cushion like some money put away, this may negatively impact your ability to pay a mortgage. Big life events dictate your readiness to buy now or to wait for a little more stability. Some signs that you should not buy right now: Will you be moving within the next five years? Are you planning on having children soon? Will you be making a job change? (or maybe you don't know) Have you recently filed for bankruptcy or is your credit score below 630? If you answered yes to any of these questions, or you are experiencing other life-changing events like illness, marriage, divorce, or breakup, you may want to wait until your life and finances stabilize better. Aside from life events contributing to your decision to buy a home, getting your financial house in order before you begin your home search is the key. Even with all the programs available for buyers with a low-or-no down payment, if your debts are growing steadily and you don't foresee an increase in your income, you are putting yourself in greater financial risk by taking on a mortgage. With few exceptions, most loans for people who are still repairing their credit or recovering from bankruptcy will always carry higher rates than those available once your credit is in better shape. So the question comes down to this: Do you buy now, before prices appreciate higher than you can afford, but do so with an expensive loan? Or do you wait and repair your credit, then get a favorable loan, and pay more for your home? These are questions that a good financial counselor or mortgage broker can help with. Don't be in a rush, after talking to a good Realtor, and a mortgage broker or lender, go to some open houses to start getting a feel of whats available and the prices, etc. Talk to a mortgage broker about getting preapproved for the amount of your loan. Remember that your Realtor and mortgage broker can explain details of all the mortgage loans that are available. Go over your credit report and your credit score with a broker and make sure that there are no problems that will come up later in the process. Talk to other homeowners and also talk to people in the neighborhood you are interested in, and get their inputs, the good and bad. Keep an open mind and soon you may be in that new home you have been dreaming about. Read More
Today is the day that we Honor our Veterans — Those men & women who have chosen to defend our country; many who have sacrificed their lives. To all who have served … THANK YOU! “When you stand to pledge allegiance, when you hit your knees... Read More