West Torrance Real Estate News!

2010-03-26T13:16:00.000-07:00

Lynda's Market Update for Spring 2010....
Your market area ended 2009 with an optimistic 123 West High and Southwood homes SOLD in one of the worst economic years ever. Our lowest Single Family Home sale was $490,000 (only one, thank goodness) and our highest was $1,299,000! Most of the sales settled in the $600,000-$700,000 range.

The first time buyers continue to fire the market with the great FHA government backed 3.5% down loan and the tax credit incentive. We actually saw an increase at the end of last year of 1%-3% in the lower price ranges in West High and Southwood single family homes.

The beginning of 2010 shows 36 West High and Southwood homes either in escrow or closed escrow. There are currently 19 West High and Southwood Homes on the market (out of 6000 homes). My last two listings sold in February and March in 4 Days!

Some challenges and obstacles to overcome in 2010 are appraisals, the expiration of the tax credit and the possible increase of interest rates.

Appraisals: Unless you can pay CASH, the Banks are very, very tight on their appraisals, and we are having some challenges getting the bank to agree with our sales prices. Fannie Mae and Freddie Mac lender guidelines state they can only use sales within ONE MILE of the property and only 3 months old! We are, when we can, removing appraisal contingencies from contracts, if the buyers agree we are within reason on our sales price.

Remember, who sets market value on a property: A willing Seller and a willing Buyer. Not a bank. HOWEVER, we have to live with the bank's reality of market value if they are lending us the money.

We are all guessing what the expiration of the tax credit and possible interest rate increases will do to the second half of 2010. Even if the tax credit is not extended and interest rates creep up, it is still a great time to buy. Prices are low, low, low. And they are not making any more West High and Southwood land to build new houses!

The real winners are the people who are fortunate enough to sell their existing homes and buy their dream homes. They win in the long run because the price on their dream home or retirement home is very low.

If you have a question that you would like me to address here, please give me a call or email me at: Fasthouses@aol.com or 310-560-3774.

Excerpts from the Realtor Code of Ethics

2009-10-20T15:58:00.000-07:00

UNDER ALL IS THE LAND. Upon its wise utilization and widely allocated ownership depend the survival and growth of free institutions and of our civilization. REALTORS* should recognize that the interests of the nation and its citizens require the highest and best use of the land and the widest distribution of land ownership. They require the creation of adequate housing, the building of functioning cities, the development of productive industries and farms, and the preservation of a healthful
environment.

Such interests impose obligations beyond those of ordinary commerce.
They impose grave social responsibility and a patriotic duty to which REALTORS® should dedicate themselves, and for which they should be diligent in preparing themselves. REALTORS®, therefore, are zealous to maintain and improve the standards of their calling and share with their fellow REALTORS® a common responsibility for its integrity and honor.

In recognition and appreciation of their obligations to clients,
customers, the public, and each other, REALTORS® continuously strive to become and remain informed on issues affecting real estate and, as knowledgeable professionals, they willingly share the fruit of their experience and study with others. They identify and take steps, through enforcement of this Code of Ethics and by assisting appropriate regulatory bodies, to eliminate practices which may damage the public or which might discredit or bring dishonor to the real estate profession.

REALTORS® having direct personal knowledge of conduct that may
violate the Code of Ethics involving misappropriation of client or
customer funds or property, willful discrimination, or fraud resulting in substantial economic harm, bring such matters to the attention of the appropriate Board or Association of REALTORS®. (Amended 1/00)

Realizing that cooperation with other real estate professionals promotes the best interests of those who utilize their services, REALTORS® urge exclusive representation of clients; do not attempt to gain any unfair advantage over their competitors; and they refrain from making unsolicited comments about other practitioners. In instances where their opinion is sought, or where REALTORS® believe that comment is necessary, their opinion is offered in an objective, professional manner, uninfluenced by any personal motivation or potential advantage or gain.

The term REALTOR® has come to connote competency, fairness, and
high integrity resulting from adherence to a lofty ideal of moral
conduct in business relations. No inducement of profit and no
instruction from clients ever can justify departure from this ideal.
In the interpretation of this obligation, REALTORS* can take no safer guide than that which has been handed down through the centuries, embodied in the Golden Rule, "Whatsoever ye would that others should do to you, do ye even so to them."

Great Reasons to Sell Your House During the 2009 Holiday Season!

2009-10-20T15:52:00.000-07:00

Sleigh Bells Ring, Are You Listing?

Here are some top reasons to List and Sell your home during the Holidays:

1. The buyers that are out during the holidays are SERIOUS. They need to move. They may have had a job transfer or their existing home may have sold. They need to move now.

2. You will enjoy less traffic and fewer "looky-loos" and each showing should be more serious.

3. Typically, in January, the market is saturated with new listings with even more homes coming on the market as we get closer to Spring.

4. Some buyers need to close escrow on a home before the end of the year for tax reasons.

5. Buyers have more time off during the Holidays to look for a home.

6. The houses show beautifully decorated for the Holidays!

7. If you get your home sold now, you will be a premium "non-contingent" buyer ready to take advantage of the Spring market when there is typically many homes to choose from.

8. You can control the timing of your move, either by negotiating a "rent back" or having the escrow close between the major Holidays or closing just after the Holidays in January.

Do consider marketing your home during the Holidays as waiting for the Holidays to pass may mean passing on the marketing advantages that only the Holidays can offer.

For more information and a Free Marketing Evaluation of your home, call Lynda McDonough, Remax Execs, 310-560-3774 or visit my web site at: http://www.westhighhomes.com/

2009 vs. 1929?

2009-08-22T07:04:00.000-07:00

Good morning....It is Saturday morning before a very busy real estate weekend in West Torrance. Did I say "busy real estate weekend"? How could that be if we are still in a recession? This Saturday morning's paper reads "highest unemployment in the recorded history of California". Yet, how can I explain my "recession" phone ringing off the hook with people that want to buy? You can see that excitement and fire in the buyers' eyes again. Wow, they are going to be homeowners and they have no uncertainty that this is a good time be one.
I'm not telling them that.....they just know it!!!

And the sellers.....they are excited, too. They can move on. They are finally getting the truth about "the right time to sell". It is what I have always tried to share with my public....it is the right time to sell, when it is the right time in YOUR life. That is the biggest reason and is really evidenced by this past and painful recession. Quality of life. This lifetime, that we have all worked so hard on, won't last forever.

So, the biggest difference between 1929 and 2009? Their depression lasted a whole decade! We have started to dig our heels in and recover already. Strong spirited people are rebuilding, rethinking and creating businesses and ideas they never thought they would do before. People are seeing great opportunities and "deals" out there. They are taking advantage of them and starting to rebuild our economy with them. Entrepreneurship spirit is starting to pull us forward.

The 1929 depression left scares on that generation. After that depression, they never wasted anything and always remembered to save (alot). They didn't buy much on credit and appreciated every pair of shoes and light bulb they used.

I don't think that is so silly anymore. I hope my generation now balances our "plenty" with more of those ideas. And, I hope our children remember what we have gone through. I tell them now, "Don't complain about doing the dishes....just be glad you have dishes to do!"

I am a product of the 50's where we had plenty. Now I have balance and appreciate being able to have the things I need to take care of my little piece of the world, work hard, and do a good, quality job for my clients.

So, I see life, excitement and spirit already coming back in our area.

Remember, Real Estate is very, VERY local. Even some streets in West High will command higher or lower prices.

The price ranges from $500,000-$700,000 are flying off the market. Those prices are even creeping up.

The higher ranges - $750,000- and up in West High are struggling. But, they are soon to come and be in demand as the lower price range demand pushes up to the higher priced homes.

We should see a strong sales market this Fall and Winter as the $8000 tax credit is still very appealing. Even after the November 30th deadline, there should still be the very serious buyers out there that need to close, for tax reasons, by the end of the year.

But, remember. You are not buying a "Market". You are buying a home. You are buying the next step.

Thank you for reading.
Please email me at Fasthouses@aol.com - I would love your comments.
Hope to see you in the neighborhood!

2009-06-24T07:29:00.001-07:00

Whew....got through my first six sales of West High and Southwood Homes for 2009! It was full of frustration and excitement. Challenges and simplicities. I will try to explain them all so we can be ready for this new "normal" in the real estate world.

The BIGGEST change is in appraisals. After interviewing several appraisers and lenders, I have come to learn that the government has taken over the appraisal industry. The government has capped the amount of money an appraiser can make, cutting their income drastically. The government has called this take over "HVCC" and I will provide a link to give you more information. Welcome to My TBWS Page Request For Reconsideration of HVCC This law states that lenders may not ever contact their local appraisers for any reason...even if there is a problem. If the lender wants an appraisal done, he submits it to this giant website and it becomes a "job" available to any appraiser anywhere. Appraisers are also terrified of not pleasing the banks and being taken off their "approved panel" list. So, with the appraisers not making much money and having no incentive except for pleasing the banks, this is what is happening:

1) Appraisers are coming to appraise West Torrance homes from Rowland Heights, Bakersfield, San Clemente and San Fernando Valley. They have no knowledge of the area and they don't care. (Remember, the government just took over their job and told them what they can earn.)

2) Appraisers are bringing value in, across the board, 10% below value to please the banks and stay on their good list. They are not using appropriate comps (comparing a house on Anza to a house on Laurette) and ignoring the correct comps.

3) Our best appraisers are looking to get out of the business.

How does this affect you if you are in escrow: Let's say you sold your house for $600,000 with a solid 20% down payment from the buyer. Now the appraisal comes in at $540,000 (10% reduction). Now the bank will only loan 80% of $540,000 instead of 80% of $600,000. The bank will only lend $432,000 instead of $480,000. This makes a gap of $48,000 that either the buyer has to make up with cash, or, the seller has to come down in price in order to close this escrow.

In selling my last 6 West High houses this year, I have experienced the following "fall out":

1) Some unscrupulous people (buyers and agents) have intentionally offered higher sales prices in order to tie up the property in escrow knowing the appraisal won't come in for what they offered to pay for the house. Then, they try to "bully" the seller down on their price in escrow.

In order to avoid this, I have been asking for appraisal contingencies to be removed on all offers.

I "lost" 8 offers on 4835 Halison because of asking for the buyer to remove the appraisal contingency and stick to their original sales price they promised the seller they would pay for the house. 8 buyers walked away!!! Holding out for the right buyer paid off, because, the 9th buyer had 37% down (ability to handle appraisal coming in low) met our price and removed the appraisal contingency! The buyer satisfied themselves by looking at the recent sales. And, needless to say, my seller is very happy that we will close the escrow without getting beat up on the price in the middle of the escrow.

Is there a moral to this story? Yes! As I have said for 24 years....Banks, Agents, Zillow, Twitter...whatever, doesn't set PROPERTY VALUE!! Buyers and Sellers do!!

Now, for the good news: The buyers mind has changed!!! They want to buy and know this is a great time to do it! So, we have lots and lots of excited people out there looking for a house.

Now, can these buyers get a loan? Well, it is very simple. They can have one of two loans. That's it. Very, very, simple. They can have an FHA loan (or VA loan) or put 20% down. Don't fret. There is ALOT of money out there. Many people have been sitting on it waiting for the market to drop.

On the flip side, there is a huge section of the market that cannot get loans now. This cuts into available people able to make offers on your house.

It is still very tough for self-employed people to get a loan right now. I am staying on top of it and will know as soon as a good loan product comes out for us hard working, self-employed folks.

Prices are NOT going up at this writing. In fact, they have slipped about 3% in our West High Area. Foreclosures and short sales are still rearing their ugly heads and keeping prices stagnant or slightly dipping. (Yes, we have foreclosures in West High, just much smaller percentage than other areas.)

Prime properties (great locations, cosmetically appealing) are getting multiple offers, but, it is amazing that these offers are not bidding the price up - very little at most.

My Chrystal Ball says, "Get an experienced agent with a good reputation to navigate this new real estate world." Call me today to help you on your next real estate decision!
Lynda McDonough, 310-560-3774

Has the West Torrance Market Hit the Bottom?

2009-01-24T11:43:00.000-08:00

To answer that question, I defer to the CALIFORNIA ASSOCIATION OF REALTORS (C.A.R.) 2009 economic forecast. C.A.R. predicts YES, if your talking annual home sales and, NO, if your looking at median home prices.

The sales picture is brighter than it was a year ago, but, C.A.R. forecasts a 6 percent slide in the statewide median home price in 2009. C.A.R. Deputy Chief Economist Robert Kleinhenz, further states: "This reflects the continued influence of the foreclosure market on the statewide median price."

Kleinhenz advises that market performance varies drastically by city to city and even zip code. "What counts is the trend in local market prices." he says.

"Timing matters a lot less if you are buying a home you are going to live in for seven to ten years. For buyers who adopt a long-term strategy, it may make sense to go ahead and buy when they find a home that both meets their needs and is affordable, because it might not be available six months from now."

So, I say, let's go back to the fundamentals. Why do you buy a house?
The founder of Inman News, states, "One, the government subsidizes it, because we support home ownership as a great public policy. Two, it's a way to save. It's the ultimate form of freedom. This has to return."

This ultimate form of freedom will not only return, it has never left! The value in living in West Torrance has never gone away. The pretty tree-lined streets with their clean sidewalks are still there. The cute original 1955 bungalows to the million dollar remodels are still wonderful to live in. The beach is still only a mile and a half away. We still have a climate that only 1% percent of the planet enjoys! And, who could forget our famous schools where 98% of the students who graduate West High go on to college?!

This current turmoil will pass, as our values of home ownership are still firmly in place.

And so,in closing, let me share with you that I have survived two of the worst years for California real estate in decades. I have done so by striving to stay positive, speaking the truth and guiding my clients and myself through unfamiliar and sometimes unpleasant real estate scenarios. I have poured over pages of real estate data, sought out and consulted with every real estate colleague and expert, so that I can remain competent and provide the best counsel to my clients. I have learned valuable new skills, like helping with short sale or foreclosure procedures and most importantly, become an expert on correctly pricing properties. This skill, above all, has helped me save thousands of dollars for my clients.

I have gone back to my fundamentals. I am striving to be a great salesperson. I am researching my market more than ever in order to bring more valuable information to my clients. I need to listen more than ever and have dialogue with my clients more than ever. I need to help people come to the right decisions and buy real estate for the right reasons.

Yes, I have always done this. But, now I do it much, much better.

Sleigh Bells Ring, Are You Listing?

2008-10-18T08:35:00.000-07:00

Holidays offer home selling advantage! When the Holidays roll around, one is reminded of the hustle and bustle that comes with the season. This is the same frenzy that can create very favorable conditions for selling a home.

Here are some top reasons to List and Sell your home during the Holidays:

1. The buyers that are out during the holidays are SERIOUS. They need to move. They may have had a job transfer or their existing home may have sold. They need to move now.

2. You will enjoy less traffic and fewer "looky-loos" and each showing should be more serious.

3. Typically, in January, the market is saturated with new listings with even more homes coming on the market as we get closer to Spring.

4. Some buyers need to close escrow on a home before the end of the year for tax reasons.

5. Buyers have more time off during the Holidays to look for a home.

6. The houses show beautifully decorated for the Holidays!

7. If you get your home sold now, you will be a premium "non-contingent" buyer ready to take advantage of the Spring market when there is typically many homes to choose from.

8. You can control the timing of your move, either by negotiating a "rent back" or having the escrow close between the major Holidays or closing just after the Holidays in January.

Do consider marketing your home during the Holidays as waiting for the Holidays to pass may mean passing on the marketing advantages that only the Holidays can offer.

For more information and a Free Marketing Evaluation of your home, call Lynda McDonough, Keller Williams Realty South Bay, 310-560-3774 or visit my web site at: www.WestHighHomes.com

New Housing Bill Signed into Law Yesterday

2008-07-31T13:06:00.000-07:00

Keeping YOU updated on the most recent industry news -
MORNING NEWS UPDATE
Source: The Seattle Times

Provisions of Housing-Mortgage Relief Bill
How the housing bill signed into law Wednesday by President Bush affects homeowners:
Wednesday, July 30, 2008

All homeowners who do not itemize their income taxes can deduct between $500 and $1,000 from their 2008 federal taxes. Anyone buying a first home between April 9, 2008, and July 1, 2009, will receive up to $7,500 in federal income tax credits. The bill includes an estimated $15 billion in housing tax breaks.
Homeowners struggling to make payments on high-interest mortgages can contact their banks and transform their loans into government-backed, 30-year fixed-rate mortgages.
To qualify, homeowners must have a mortgage debt-to-income ratio greater than 31 percent. To see if you qualify: Multiply your gross monthly salary by 31 percent. A homeowner earning $75,000 a year, for example, must owe a monthly mortgage payments of at least $1,938.
The new loan cannot exceed 90 percent of the home's value and borrowers must prove they can repay the loan.
Congressional budget analysts project that this $300 billion program would help 400,000 homeowners facing possible foreclosure. The program begins in October but officials recommend homeowners begin the process now.
Homeowners living in neighborhoods stricken by foreclosures, where vacant properties were left run down with overgrown yards, may see improvements. The bill provides $3.9 billion in grants for governments in the hardest-hit communities to buy and fix up already-foreclosed property at a discount.
First-time buyers or homeowners with subprime mortgages in some states can qualify for low-interest loans or refinancing under a provision allowing states to offer an additional $11 billion in tax-free municipal bonds to pay for such housing projects. The actual dollar amount and the criteria for who might qualify will vary by state.
Homeowners strapped for cash will be able to receive pre-foreclosure financial counseling and legal services. The bill allocated $180 million for these services.
A new fund, paid for with profits from the mortgage companies Fannie Mae and Freddie Mac, will help build affordable rental housing. The two companies will be allowed to buy pricier mortgages, up to $625,000, which would make stable loans available to buyers in expensive cities. Also, Fannie Mae and Freddie Mac will be subjected to greater government oversight. Regulators will have authority to approve pay packages for company executives.

Are You Working With An AGENT??

2008-07-19T10:07:00.000-07:00

Do you have to wait for an open house to see a new listing? Have you considered the home may be sold before the open house? Do you know if the home fits your criteria?

You decide to call the listing agent to find out. The listing agent gives you the basic information and you ask to see the home. The listing agent then asks, "Are You Working With an Agent?"

Why does he/she ask THAT? Why does THAT matter? I just want to see the house!

Number one, if you are working with an agent, the listing agent will take you a lot more seriously. That means you have at least been pre approved and should be somewhat educated on the market. It also means you DON'T have to wait for the open house to see it! Your agent can take you in right away and you will see it before the home has offers on it and you are in competition (yes, that can happen even in this oppressed market, if the home is priced right).

You want to save money by going through the listing agent and possibly cutting the listing agent's commission? That is possible, but, a lot has to happen for it be a successful transaction. You have to trust the agent completely, as they will be representing both sides. If the seller does not want to do some of your repairs, or asks for more time on the close of escrow, or has any requests of you, will you trust that the listing agent is still representing you fairly? Did you know the listing agent has a FIDUCIARY relationship with the seller and an ETHICAL relationship with the buyer? If you are not happy at the end of the transaction, is it worth those few thousand dollars you may or may not have saved?

You say you are plugged into the MLS and Internet and can get all the info on your own. Technology does help speed up the process as far as getting information to you. But, what do you do next? What happens when you want to write that offer? Are you going to do it with a perfect stranger?
Have you interviewed agents and decided who you trust to get you through all the delicate negotiations, inspections, disclosures, and the laborious loan process? This is NOT something you want to do with a stranger.

The real estate purchasing process is a complicated one to be sure. It is no wonder people just entering the market can be confused. My job (and I think all agents' jobs) are to guide people so that they understand how it all works.

Here is the inside scoop: Get an Agent!!!

In picking an agent, remember, we all go to the same place for the same information. We all go to the same MLS and read the same papers and visit the same web sites and belong to the same Board of Realtors. What you have to decide, is which agent you feel comfortable with. Can you communicate easily and honestly? RELATIONSHIP is what will make the difference for you with your agent.

Home buying and selling is a PROCESS. Your opinions and decisions will CHANGE as you go through this process. As you get to know neighborhoods, home tracts, comparable sales, loans, and, yes, even a little education on what it costs to fix a few things in a home, (no, it does not cost $150,000 to put on a new roof) you will become clearer on what you want to do. Your AGENT will go through this process with you and quickly adapt and provide for your NEW decisions.

Yes, as agents, we all like getting those calls from you on our ads and yard signs. You may be new to the process and we are anxious to help you get started. So, if we ask you "are you working with an agent?" and you say, "no", our first goal will be to find you a competent agent. If you say, "yes", we will answer your questions and refer you back to your agent.

So, are you working with an Agent? Call me today to find out what your home is worth (a free market analysis) and to interview some of the best "buyer's agents" in the business!!

West Torrance Economic Stimulation Package!

2008-03-18T08:48:00.000-07:00

Torrance, Southern California Real Estate, 90503

It is here! What does it mean to you?

So far....this is what I have seen:
1) Super busy open houses....as many as 150 people at my last West High open house! People are out there and they have HIGH interest in what is going on, lots of questions, etc.

2) Multiple offers on my best priced listings (although not necessarily OVER list price, but some are).

3) We are now seeing some of the offers being written with the new FHA loans, previously UNHEARD of in this area! (FHA is a loan backed by the federal government and has easier guidelines to qualify with and requires only 3% down!) FHA loan limits are now up to $729,750 from the previous $368,000!

4) Can we actually CLOSE these loans? Stay tuned....(but, you better have a sharp lender who has been in the FHA market before.)

Some of the concerns and barriers we have to conquer:
1) Appraisal.....you are in escrow and the bank sends out their appraiser to see if the bank agrees with the value and approves the property. (Both YOU and the PROPERTY has to qualify for the loan).

There is a little box the appraiser has to check before he submits his report to the bank. It is called the "declining market" box. If he/she checks that box, the bank will take a minimum of 5% off the purchase price.

What does this mean? The buyer has to come up with more down payment than planned on and/or the seller has to come down in purchase price. If the buyer is doing a loan with 20% down or less, this is a problem that must be resolved.

2) Tight Credit.
Lenders are requiring borrowers to show proof of income and employment. They are back to using gift letters and requiring borrowers to pay off debt. This is being likened to the industry going on a diet. Exercise and healthy eating....uncomfortable in the short term, healthy for the industry in the long term.

The lending industry is reorganizing. We are all in the process of learning the new guidelines and rules. Listen to your Realtor and lender and understand the process. Understanding the process will bring you the greatest success.

Are we at the bottom yet? You will know when you start seeing those SOLD signs and the inventory starts going down. I put up two SOLD signs on my West High listings in the last week.

One thing I believe....this GREAT buyers' market won't last forever in the West High area of Torrance. There is pent up desire in the market. Does the desire to own a home ever go away?

That is the true stimulation....are you stimulated yet?

Call me for more information on any part of the buying/selling or lender process!

Lynda McDonoughKeller Williams Realty Torrance
310-560-3774
www.WestHighHomes.com

2008 IS THE BEST MARKET TO BUY “UP” in and get your larger, dream home, but, you can’t Put the Cart Before the Horse when Selling

2008-02-14T08:41:00.000-08:00

When it comes time to move to a new house, in an ideal world, the timing of the escrow on the home you are selling would match that of the home you are buying. There would be no gremlins under the sink, no hitches in the financing and no hiccups in the title. Signatures would flow in synchronized signings and for the finale, as you turn the key in the door of your new home, the buyers of your old home would be crossing the threshold of theirs.
In reality, of course, trying to handle buying a new home while selling your old one can get pretty sticky. Here are a couple of scenarios from the real world.
The house you've had your eye on for so long has finally come on the market, you know it's the perfect home for you, but you've got to act quickly. You need to sell your home in a hurry.
But…the market is not quite what it was a year or so ago, and you are not in a position to pay two mortgages while you wait for your old home to sell. What can you do?
Key to this is not putting the cart before the horse, and using an experienced real estate agent is your best chance of obtaining a smooth transition.
In most cases, a seller will not wait for you, the buyer, to sell your house, i.e., a "contingency" offer. Some corporate relocations will absolutely not take a contingency offer. But you can take the reins back when you put the contingency on the house you are SELLING.
You can put your house on the market with the contingency that the buyer waits for you to find your new home in 30 day increments. If you have not found your new home in 30 days, either you or the buyer can cancel the transaction or extend the waiting period by mutual agreement. All time frames and costs begin at the start of the escrow of your new home.
And, remember! Yes, your current home may have dropped in value. Yes, it is painful to get those lower offers. Keep your eye on the Horse….your Dream home has also reduced in value and that is the best thing that can happen to a buyer/seller: lower property taxes and faster appreciation on the new home.
Over my past 23 years of professional experience, this has been very successful for my clients. It has proven to be the safest way, as you avoid the risk of not having a home. I recommend that you commit to trying the process for 3 or 4 months. If it is not successful, the worse that can happen is that you still live in your current house.
My clients have experienced that once you take the big step of putting your house on the market, the "flood gates" open. Ninety percent of my sellers will get a buyer right away who will wait for them to find their new home within 30-90 days.
To obtain a personal market evaluation and begin the process of finding your new home, please call me so we can review the process together!

Another Beautiful Day in the Neighborhood!

2008-01-15T18:34:00.000-08:00

I was out walking the neighborhood on Lee St. today, passing out my January Real Estate newsletter, and the sun was so ablaze and the sky so blue, that I told one homeowner, "On a day like today, all the South Calif home prices are much higher!" We laughed. We really need to stop and smell those "January" roses and realize what a gorgeous area we live in, no matter what the home prices are temporarily doing.

I taught my first Real Estate class today to brand new Real Estate agents. My attempt to give back to my industry after working in it for 23 years. I hope to educate Realtors as much as I can so they can serve their public better.

It was wonderful to see some light bulbs go off in their minds and it was great to be reminded of the basic purpose of it all.

One agent asked, "but what do you do if they don't like the market price you give them for their home on a listing presentation?"

Another, asked, "When they call you from the neighborhood and say they don't want to sell, do you still go to their home and service them?"

And yet another, "You are the Queen of West High, why do you still walk the neighborhood and work so hard?"

Well, my friends, if your clients don't like the fair market price you are giving them for their home now (and it is shocking for some), know that you held to the truth, and did them a great service by letting them know. They are making life changing decisions, and your information can play a big part. The public depends on you for the truth and you must be strong enough to communicate it. It is your job.

Secondly, if a homeowner calls me for my services, help or advise, whether they are selling or not, it is my duty to serve and help in every way I can. Give back to your market area and it will come back to you.

As far as being "the Queen", psshh....I am only as good as my last client says I am!

I am looking forward to becoming more skilled in teaching my fellow agents.

See you around the neighborhood!!

The Worst is Over!

2008-01-08T15:22:00.000-08:00

Only time will tell, but, I do believe the worst is over! There have been 20 West High single family homes go into escrow since the Big Crash of August 2007. This is a good sign. There is life!

The inventory is low, the interest rates are lower. Except for Jumbo Loans (over $417,000) which are still around 7% and you have to have crystal clear credit to qualify. But, lower home prices will help make up for this as lower home prices also mean lower property taxes! (Property taxes are 1.25% of the sales price and they never go away!) (Seniors, call me about proposition 60/90 which may help you with this property tax issue.)

West Torrance home prices have dropped 9% to 11% just since the crash of August 2007. That means if a property was worth $825,000 at the peak in 2005, it would now sell for about $750,000 depending on location and condition.

Some West High areas have been insulated from the crash. It is amazing really. A house on Wendy Drive just closed escrow at $866,000 in 13 days!!

So, the best thing about Real Estate in 2007 is that 2007 IS OVER!

There is new life in 2008! All those buyers that wanted to buy last year, still have the burning desire to buy and should come out in numbers this year. My phone has been ringing and showings were high this past weekend. I went to visit my seller in my darling Miraleste condo, and we couldn't even finish a conversation....the doorbell kept ringing with agent showings!

Have we hit bottom? Maybe. You will know for sure when the prices start going up. And, when that happens in the good areas like West Torrance, they will shoot up fast. Who wants to wait to buy then?

The BEST time, though, the absolute BEST time to buy or sell, is when it is the best time in YOUR LIFE!

Happy New Year!

I moved to Keller Williams because....

2007-10-25T08:24:00.000-07:00

I joined Keller Williams because it is the cutting edge real estate business of the future. Keller Williams philosophy elevates the real estate agent to a position never before accomplished in the industry. By putting the agent first in the company, it enables me to put my clients on even a higher service pedestal. I will receive such support and assistance that I will have more time and tools to serve them to make their move and transition smooth, no matter what the market. My creativity will be free to achieve things for my clients in new and exciting ways. I am more hopeful for the future as I am working in an environment that moves into the future.

Good morning and welcome to my new Blog!!

2007-10-11T10:42:00.000-07:00

Does anyone have any questions or concerns regarding the current real estate market, i.e., the effect of the sub-prime loan crash, the upcoming foreclosures and the future of your home value? Please ask away!