Category: Real Estate
Watch this beautiful Video of the South Bay and you will understand why sop many reside here. Housing sales are starting to go up, building starts are up, condo and townhome sales are setting new records in some areas. And we are seeing an upswing in South Bay real estate. Mortgage rates are still at an all time low. Lenders say they have money to lend. Lenders have tightened up their processing and underwriter guidelines, which is slowing down overall processing and funding times. Experts say that if there is no unforeseen crisis in the near future the trend should continue with gradual increase in sales. Foreclosures and lack of inventory is affecting many markets across the country at the present time, and that should start improving gradually. One factor that is helping to fuel the gains is heavy buying by investors, many paying cash for hot properties. Flipping houses is again being advertised heavily which causes some concerns. Many experts feel that “flipping” along with other factors was a major cause of some of the real estate problems of recent years. The pace of building is picking up as well, with housing starts in some states like Washington, Iowa, Nebraska, Texas and South Carolina are likely to near the levels last seen in the 2000-2003 period, by the end of this year. Construction industry experts are predicting a possible 17-20% increase in new housing starts. General increases in building permit applications are already being seen in some “hot market” areas. So what’s the down side of all of this? The unknown possible tax hikes coming in January and some other possible worsening economic factors coming out of Europe and Asia that could affect more than just the real estate industry. Read More
Ponte Vista, a planned community to be built on the old Navy Housing land on Western Av, may be coming back to life after seven years on the chopping block. A new development team is proposing 1135 or 830 housing units. They are looking for comments from the community. Read More
Splatter Stopper Whenever I mix 5-gallon buckets of paint with a drill and paddle attachment, I put the paddle's shaft through a hole in a large cardboard square before attaching the shaft to the drill. Then I lay the cardboard directly on the container before turning on the drill. No splatters! Tidy Patio Joint Filler Here's an easy way to fill joints between pavers or patio flagstones: Simply take an empty screw-top wine bottle and punch a hole in the top of the cap near its edge. Fill the bottle with sand, mortar mix, or polymeric sand; screw on the cap; and pour the contents into the joints rather than on the pavers. There's no waste and no cleanup. Photographic Memory Aid When I'm taking apart something that I need to put back together, I take pictures at each step of the disassembly. Then I arrange the photos in reverse order to see step-by-step how to reassemble it. Tire Reviver Here's a quick way to inflate any small pneumatic tire after it's gone flat. Tie a rope tightly around the circumference of the tire, then use plumber's putty to seal the edge where the rubber meets the wheel rim. Now you can pump up the tire and untie the rope. Simple as that. Read More
DataQuick, a real estate information service, announced that California's Million Dollar Home Sales were the highest since 2007. The jump in million-dollar home sales last quarter outpaced overall home sales. Total California home sales - including all price levels - increased 10.3 percent year-over-year last quarter, from 109,713 in second-quarter 2011 to 121,058 last quarter. Last quarter's $1 million-plus sales were the highest since third-quarter 2007, when 10,946 changed hands. Good news for sure. Manhattan Beach made the top list with a $5.50 Million sale. Read More
Many people are amazed the first time they visit the small community of Walteria. Most people say it’s like being in a small rural town when they come to Walteria. Some of the area is hilly and rural like, no sidewalks, large overhanging trees and peace and quiet galore. Read More
According to Forbes; Homeowners beware. There are new scams galore out there and most new ones are aimed at the homeowner. Home improvement scams are still heavily represented in the top 10 homeowner scams. Auto and Debt related scams and new real estate scams are new to the list this... Read More
According to The Daily Real Estate News, mortgage loan applications have continued the recent surge in activity for July for both new loan applications and for refinance mortgage applications. This is certainly good news for the Real Estate industry and all related business activities. The Daily Real Estate News says the low interest rates and the inventory of low price homes are the contributing factors in the application surge. Applications were up almost 17% for the week ending July 13th. Read More
Sorry to hear that you or someone you know is in financial and/or mortgage distress. And you really want to keep your home. So you check the local newspapers and online ads. And they say … “I can keep you OUT OF Foreclosure and you get to KEEP your home!... Read More
With interest rates THIS LOW, you have higher BUYING POWER. This means you can buy a higher priced home and still qualify for your loan. Talk with your lender (or I can offer a lender referral) to get pre-qualified and then let’s get together. There are still some very good... Read More
Since home prices began falling a few years back, property appraisals have also been plummeting. Appraisal complaints have been rising steadily throughout the industry. Buyers and Sellers need to know that Real Estate Appraisers just report what the market is, they do not make or influence the market. Appraisals can come in low for a variety of reasons.You need to understand that appraisals are based on closed sales for a comparable home or property. A low appraisal can prevent you from buying or selling a home at the price you have negotiated or planned on. If the appraisal comes in really low, the buyer has the option of increasing the down payment to lower the total loan amount. A buyer can also use a low appraisal to re negotiate a lower price. Both buyers and sellers should do their research on values in their neighborhood. The sellers should always clue in the appraiser on recent sales and on any special features that might influence the appraisal, like improvements or special materials that make the property more valuable. The sellers should also be present when the appraisal is being done. Even when all of the above has been taken into account, some appraisals still come in short. The buyer usually pays for the appraisal and the buyer has the right to ask for another appraisal if the buyer isn't happy with the results of the first appraisal. Also, the appraiser should be a local appraiser so they are aware of the market conditions of the area. Read More