Hermosa Beach has 3 MLS areas Sand is area 148 from the water to the Valley Ardmore section

149 from there to PCH 

 150 from PCH to border of Redondo Beach

53 properties are for sale in the sand section #148

31 are Single family homes and only 6 are under 1 million dollars.

107 have sold, or in backup and pending to sate

1820 Palm is my listing. It is the closest to the water, it has a garage unlike two of the other properties in that price range. Its a fanstastic opportunity to get into a property.

Home sales rise to highest level

in 2.5 years

10.1 percent increase beat analyst expectations by more than sevenfold  

updated 1 hour, 41 minutes ago

WASHINGTON - Home sales far exceeded expectations last month, surging to the highest level in two and a half years as first-time buyers rushed to take advantage of an expiring tax credit.

The National Association of Realtors said Monday that home resales rose 10.1 percent to a seasonally adjusted annual rate of 6.1 million in October, from a downwardly revised pace of 5.54 million in September.

Good news for buyers (and sellers) - 30 year mortgage rates are still low - they have been hovering around the 5% mark pretty much all year.  Currently, the rate is just below 5% - which means you can buy a $600,000 mortgage for approximately $3,000 per month - that’s not bad.  Basically, for every $100,000 worth of mortgage you pay $500.  Of course, there are fees involved - typically up to 1 point - or 1% which is paid to the mortgage broker for their services.  Other fees include those for escrow and title services and those can add up to another 1% sometimes in fees.  These mortgage fees are a write off on your taxable income (check with your accountant for specific scenarios.)

Last year at this time mortgages were averaging 6%.  The Federal Reserve has pumped $1.25 trillion into mortgage-backed securities to try to lower rates on mortgages and loosen credit.  Rates on 30-year mortgages usually track yields on  long-term government debt. 

Almost Thanksgiving - wow!  Time is moving along as usual and so is the South Bay real estate market!  Not many homes that are under $1 million with good bones, move-in condition and nice views stay on the market too long any more.  Here are three such homes that are currently available.    Click here to be directed to the listings.

The first one has been on the market for about 58 days now and they have reduced the price 3 times - so clearly they are motivated at this point.  The current price is $998K (reduced from $1.199K originally.)  It’s a nice Hollywood Riviera home located on a cul-de-sac with a panoramic city lights view.  The home has been nicely updated and has an amazing garage! 

The next one is a brand new listing here in the Hollywood Riviera - it’s close to Rocketship Park and Riviera Elementary (but not too close!)  This home has amazing panoramic views and gorgeous hardwood floors to boot!  It’s very well priced at $949K.  I doubt this one will last long!

The 3rd good deal in the South Bay for under $1 million right now is in Rolling Hills Estates.  It’s right off of Silver Spur, so it’s got great access on and off the “hill” as well as being close to Peninsula Center shopping and Peninsula High School - an award winning high school in Palos Verdes.  It’s been recently updated throughout with a nice open kitchen.  Hardwood floors, a fireplace and sliding glass doors to the back patio and yard make the living room extra special.  For $899K it’s the most well priced of the three homes listed here today.  I bet this one won’t last long either.

If you want to see any of these homes, call me right away….doubt they will be around for long. 

And that’s just the 2nd floor.  There’s a 1000 sq. ft viewing deck with 180 degree views.

(Translations?)
Once again, an opportunity to see what the statistics are.  For the full report go to http://www.nsdcar.com/homedex/current_homedex/current_homedex.pdf  Easy to read charts and graphs.  Keep in mind when reading about median price decreases the market is very bottom heavy.  Information courtesy of HomeDex provided to NSDCAR members.

HomeDex™ Key Points
October 2009 Data
1. The median price for all North County home sales – attached and detached – decreased 1.33% in
October 2009 from September 2009, to $375,000.
a. Detached homes in North County decreased 5.91 percent, from September 2009 to
October 2009, from $457,000 to $430,000.
i. Detached home prices OUTSIDE North County increased 1.44% from September 2009
to October 2009, from $349,950 to $355,000.
ii. October 2009 median single-family detached homes in North San Diego County
increased 5.39%, from $408,000 in October 2008. The median price OUTSIDE North County for singlefamily
homes rose 2.9 percent from the $345,000 a year ago.
iii. The countywide median price of homes sold decreased from $385,000 in September
2009 to $380,000 in October 2009 and was up 4.11% from the October 2008 number.
b. Attached home prices in North County increased during October 2009 by 1.81%, from
$235,000 a month earlier to $239,250.
i. Non-North County attached home prices increased 7.89% in October 2009; from
$190,000 to $205,000.
ii. North County attached homes increased 15.02% from $208,000 a year ago.
c. Median days-on-market for single-family detached homes in North County increased
from 30 days in September 2009 to 35 days in October 2009. The number of North County single-family
homes sold increased 0.26% last month, from 770 to 772. There was a year-to-year decrease of 4.93%
for home sales in October 2009 compared to October 2008.
2. The residential real estate market has swung from the seller’s market of three years ago when home
prices were increasing as much as 20 to 30 percent per year to the buyer’s market today where prices
have decreased and there’s an abundant inventory of homes from which to choose. That’s good news
for those looking to buy a home.
a. Interest rates continue at record lows, at least for the short-term future.
1 The current condition of the housing market needs to be kept in historical perspective. Home
values rose 88 percent on a national average – higher in California – over the past decade.
4. Sales continue to be hampered by problems in real estate finance. Both tighter
underwriting standards and the ongoing effects of the credit/liquidity crunch continue to limit sales.
a. Buyers with secured financing, or all cash are not hampered by the constraints of the
real estate financing market.
2 In fact, several North County brokers and agents have experienced significant increases in
activity, working with well-qualified buyers who recognize optimum buying conditions.

By now you probably heard that the Homebuyer Tax Credit was extended and expanded. Here are the particulars:

• - $8000 to first time homebuyers (haven’t owned for 3 years)
• - $6500 to homebuyers who aren’t first-timers
• - Must buy a primary residence
• - Applies to homes up to $800,000
• - Must sign contract to buy home by 4/30/10
• - Must close by 6/30/10
• - Must stay in the home for 3+ years
• - Income limits are $125,000 for a single or $225,000 for a couple. Credits are phased out over these limits

Okay, this sounds like a typical Realtor sales talk, but hear me out: Between now and 1/1/10 may be a great window to buy a home, especially if you’re buying under 600K. Here’s why:

• 1. Many homebuyers take a vacation from home-shopping during the holidays, leaving you less competition.
• 2. Anyone with their home for sale during the holidays is going to be more motivated, on average.
• 3. The BIG reason: There was a huge rush to buy before the 8K First-Time Homebuyer Tax Credit expired 11/30/09. It was extended, but much demand was used up in the rush to meet the deadline. I expect some of the “Post Cash-For-Clunkers Empty Showroom Syndrome” that slowed down car sales – even though the credit was extended.

There are still plenty of great buys to be found in Oceanside, Carlsbad. Encinitas,  San Marcos, Vista and Escondido for first time buyers.  With a little slowdown in the buying frenzy the holiday season could be the opportunity you have been waiting for.

Open house today 4511toucan torrance ca 90503,soccer game 8am..full day

  Open Invitation!

Please come to my open house today!

Facebook is the place to check out 69 photos of this property and 2 virtual tours. join in at facebook/lynnepope
click on “local schools” right from this website, get the mortgage calculated, and see a map of the whole area.
“Realtor.com” is one place that a lot of people start to search. For that reason I did purchase the real estate package they offer. From there you can see the  youtube video of this home. just type in the address 4511 Toucan, Torrance 90503
Virtual tour, 360 is now enhanced by a walking youtube video! Want the West High school area? Bert Lynn? and Towers?
I bought a website for this address too..http;//www.4511toucan.com

I posted 5 photos on Facebook in the album “4508 Toucan” http://bit.ly/4nOXuz