Real Estate Tips of the Week If you are looking to buy a home in the south bay in 2009 there are several things you should know. 1. Lenders are changing the requirements constantly. 2. Pitfalls with FHA-You can go FHA with a small down payment 3-5% as of today that could change tomorrow.So if you have a small down payment or are going FHA it will weaken your chances of being accepted in multiple offers.Many 20-50% down buyers are now bidding against you. Which can be discouraging but it is a fact that first time buyers need to know so they won't be disappointed when in multiple offers. 3.Best Homes to buy in this market-Trust or Probate Homes are the best homes. Most homes that are priced well and are in good condition and location will have multiple offers on them even in this market. ... 06/12/2009

The Torrance average sales price decreased 10.1 percent in May 2009 compared to May 2008, bringing the average price to $514,395. The  number of sales increased to 96 closed sales a 23% increase in volume! Meanwhile, the average market time decreased from 69 days a year ago to 68 days last month.. Torrance SoldListings AverageSales Price AverageDOM  May 2009 96  $514,395 68  May 2008 78  $566,442 69 *All stats are compiled from the Multi Regional  Multiple Listing Service. Information is deemed reliable but not guaranteed. Increased sales in Torrance reflect a stabilization of the South Bay real estate market as home buyers respond to increased affordability and more moderate prices. Although avg April '09 - $458,037, May '09 - $514,395 price in May was lower than a year ago, it is high... 06/10/2009

Yummie Combination Burrito, Westfield Shopping Center SoCal Mall Food Court. MMMmmmmmmmm  What a great treat after a day of prospecting   Lisa Marie Flenoury, Broker Associate Century 21 Union Realty Co., Inc.                                           23900 Hawthorne Boulevard, Suite 100, Torrance, California  90503                                                  (310) 766-0964 Serving Southern California South Bay and Beach Citie Residential, Commercial, and Property Management   06/09/2009

Median sold price in Walteria in May '09 was down by 25% compared with May 2007. The number of sold properties in Walteria was up 33% while the average month supply is drastically down by 32%.  Inventory peaked in January 2008 and it is very low at this time.  This is mainlyt a result of increased sales in the last few months - for details see report posted on http://www.WalteriaProperties.com For more up-to-date information on Torrance-Walteria & Greater South Bay real estate please call me at 310.918-5027 or visit http://www.WalteriaProperties.com                     06/05/2009

  New law the Helping Families Save Their Homes Act of 2009 to help homeowners and lenders avoid foreclosure, as per a article I recieved from the California Association of Realtors the New Laws were not really helping since only one family qualifed for this program. Now with an inducement to the short pay lender to share a portion of the equity,the government thinks this may work...All so the Government is offering monetary incducement to participating servicers of the existing loans and originators of the FHA refinance. New Law also allows with a 90day notice the month to month has to vacate in 90 days but if a lease holder has a 90 day extension they can stay until the end of their lease term. There is also $500 million to be granted to federal agencies to chase down the fraud perpe... 05/22/2009

The Torrance average sales price decreased 24 percent in April 2009 compared to April 2008, bringing the average price to $458,037. The  number of sales increased to 91 closed sales a 20% increase in volume! Meanwhile, the average market time increased from 76 days a year ago to 91 days last month.. Torrance SoldListings AverageSales Price AverageDOM  April 2009 91  $458,037 71  April 2008 76  $601,600 65 *All stats are compiled from the Multi Regional  Multiple Listing Service. Information is deemed reliable but not guaranteed. Increased sales in Torrance reflect a stabilization of the South Bay real estate market as home buyers respond to increased affordability and more moderate prices. Average home price in Torrance continued to slide till January and rose in February and March as f... 05/13/2009

Banks are still store housing more foreclosures because they do not want to flood the market and lower the prices in one big drop.The lending institutions are trying to control the real estate market drop.  We are still seeing a slow response to our short sale offers with banks taking as long as 3 months to respond, if you are looking for the best buys in the market in the South Bay especially Palos Verdes Market and last month my Lomita market. Here is what it is- It is Probate and Trust Sales. Not only are the homes in excellent condition, they have usually had a long history of maintaince and the heirs most likely need the cash or they would not be selling at this time but leasing instead, so you can get a fantastic price. I have found my clients some excellent buys in trust sales an... 05/11/2009

Interesting Daily Breeze article I ran across. Locally, I guess we have our own issues to worry about from the economy.  I heard yesterday on Glenn Beck, Fox Nation that some developers are bull dozing their projects in California and saying that the Land is worth more than the completed projects. According to this Wall Street Journal article, it looks like we have another whole set of problems to deal with from lack of bank financing. According to the Daily Breeze article some residents near the closed Sunrise Project not only had the soil tested to find Silica, normal to rock quarries but a potential carcinogenic. Some residents reported chronic sinus infections and more.  Here is a clip from the article. You can read the whole article written by Charles Bennett / Daily Breeze picked ... 05/07/2009

5117 Beran Street in Torrance is a brand new listing just hitting the South Bay MLS. April 16th from 12pm-2pm we’ll be hosting a brokers open to showcase the house. Located in the Southwood section of Torrance this well maintained home's highlights include recently upgraded bathrooms, double paned windows throughout, gleaming hardwood floors, canned lighting, forced air heating, copper plumbing and an upgraded electrical panel. To get more details or to schedule a private showing go to 5117 Beran St., Torrance. 04/15/2009

The Torrance average sales price decreased 7 percent in March 2009 compared to March 2008, bringing the average price to $519,707. The  number of sales remained the sale at 74 closed sales. Meanwhile, the average market time increased from 69 days to 72 days in 2008. Torrance SoldListings AverageSales Price AverageDOM  March 2009 74  $519,707 72 March 2008 74  $556,564 69 *All stats are compiled from the Multi Regional  Multiple Listing Service. Information is deemed reliable but not guaranteed.  Increased sales in Torrance reflect a stabilization of the South Bay real estate market as home buyers respond to increased affordability and more moderate prices. Average home price in Torrance continued to slide till January and rose in February and March as follows: November 2008 - $790,493,... 04/11/2009

In the 1st Qtr this year, 6 homes sold in Walteria, with the avg price of $611,150 compared with 10 homes sold a year ago and the avg pric of $757,095.  Average DOM (days on the market) was same as a year ago - 78 days. Prices dropped on average 23.8% and sales dropped as well. Sales were much stronger in other parts of Torrance - see  Torrance real estate market update.   Torrance-Walteria SoldListings AverageSales Price AverageDOM 1st QTR 2009 6  $611,150 78 1st QTR 2008 10  $757,095 78 *All stats are compiled from the Multi Regional  Multiple Listing Service. Information is deemed reliable but not guaranteed. Increased sales in Torrance reflect a stabilization of the South Bay real estate market as home buyers respond to increased affordability and more moderate prices. Visit http://... 04/11/2009

We may have to create a safe way for people who lease properties to KNOW the person taking their money is the rightful owner. It came up  first in a REMAX PV EXECS meeting. Our broker told about the word coming out this was happening. People were misrepresenting ownershop, taking deposits and taking off with the money. I heard it first hand today from a local couple in Torrance . Someone who was forced to leave his home turned around a falsly took money from innocent people trying to lease. CAR is requiring the new business cards to have the realtors number listed. Many properties locally are with westside rental. It is free and any owner can get them the property info. Search out the proof that they can provide you to be sure of the ownership. Be safe with qualified business people and... 03/28/2009

2605 sepulveda #328, torrance Best location with views of the Palos Verdes Peninsula. This is a light, bright and sunny unit with a master bedroom suite and adjoining den. With wood laminate floors and plantation shutters, there is a warm and welcoming feeling about this home. This complex features a pool, courtyard, large recreation room with pool table, work out room and manicured grounds. The parking place is ideally located near the elevator. 1 BEDROOM PLUS DEN 2 BATHS 993 SQ.FT BUILT IN 2003 LISTED FOR $380,000     03/23/2009

03/13/2009

                Located in the upscale gated La Terrazza complex, this immaculate end unit has been beautifully upgraded with plantation shutters and wood laminate floors. Sunny, bright and welcoming, you will feel right at home! The rooms are spacious with loads of windows and private decks. There are fireplaces in the living room and master bedroom. The large, lavish master bath features a walk-in closet and skylight. The three car tandem garage has a very large storage area adjacent to it. The HOA dues include water, earthquake insurance, basic cable, trash and grounds maintenance. The common areas include a clubhouse, resort-like pool, spa, putting green and exercise area. Located near Del Amo shopping center and schools. Listed for : $685,000 Bedrooms: 3 Sqft: 2,009 Built in :1993 ... 03/10/2009

The Torrance average sales price decreased 13 percent in February 2009 compared to February 2008, bringing the average price to $477,944. The  number of sales increased by 50 percent (it's not a typo). Meanwhile, the average market time increased from 57 days to 81 days in 2008. Torrance SoldListings AverageSales Price AverageDOM February 2009 51  $477,944 81 February 2008 34  $548,118 57 *All stats are compiled from the Multi Regional  Multiple Listing Service. Information is deemed reliable but not guaranteed. Increased sales in Torrance reflect a stabilization of the South Bay real estate market as home buyers respond to increased affordability and more moderate prices.  Average home price in Torrance continued to slide till January and rose in February as follows: November 2008 - $7... 03/05/2009

*OBVIOUSLY THIS IS A LIMITED TIME OFFER AS IT REQUIRES TONS OF WORK ON MY PART   There is a reason I've been totally neglecting my real estate blog for the last couple months - I've been totally consumed co-writing a book to teach consumers how to get Loan Modifications on their mortgages! Click here to watch my YouTube Video explaining this offer.  I've never done anything like this and it's pretty exciting. The Website is still pretty frankensteined and ugly but you can check it out at http://www.60minuteloanmodification.com We are making improvements everyday and we hope to launch the book for sale in about 1-week.   For Realtors, Loan Modifications aren't too exciting...On one hand, you want the best for your client. But we can't spend time messing with the process b/c that's not ho... 02/08/2009

Torrance Real Estate Market Update   The Torrance average sales price decreased 23 percent in January 2009 compared to January 2008, bringing the average price to $505,796. The  number of sales increased by 16 percent. Meanwhile, the average market time increased from 68 days to 72 days in 2008. Torrance SoldListings AverageSales Price AverageDOM January 2009 74  $452,125 72 January 2008 64  $589,756 68 *All stats are compiled from the Multi Regional  Multiple Listing Service. Information is deemed reliable but not guaranteed.  Increased sales in Torrance reflect a stabilization of the South Bay real estate market as home buyers respond to increased affordability and more moderate prices. If you want to learn more about South Bay and Los Angeles County real estate, please contact us at ... 02/06/2009

Currently there are only four homes for sale in Old Torrance. They are: 1230   Madrid Av       $455,000 2358   Sonoma St       $469,950 1920   Arlington Av       $475,000  1622   Beech Av       $679,000 WHAT HAS THE OLD TORRANCE REAL ESTATE MARKET BEEN DOING? Date 10/07 11/07 12/07 1/08 2/08 3/08 4/08 5/08 6/08 7/08 8/08 9/08 10/08 11/08 12/08 For Sale 28 25 20 18 15 13 13 18 17 16 12 11 10 7 4 Sold 1 2 2 4 0 1 1 1 1 2 5 6 3 0 3 Pended 2 3 2 0 1 1 1 0 4 5 6 3 1 1 2 Months of Inventory based on Closed Sales 28.0 12.5 10.0 4.5 n/a 13.0 13.0 18.0 17.0 8.0 2.4 1.8 3.3 n/a 1.3 Months of Inventory based on Pended Sales 14.0 8.3 10.0 n/a 15.0 13.0 13.0 n/a 4.3 3.2 2.0 3.7 10.0 7.0 2.0 Avg. Active Price 693 660 638 640 634 609 640 650 643 630 620 536 525 614 565 Avg. Sld Price 525 627 593 712 0... 02/02/2009

2008 was a unquestionably a difficult year for home sellers in the Torrance real estate market. According to the South Bay Association of Realtor overall sales for the year were down 15% compared to 2007. However there were some interesting market developments towards the end of the year that may indicate a brighter 2009 for sellers.   For the complete analysis of the 2008 real estate market go to Torrance Real Estate Market Recap for 2008. 01/24/2009