What is happening in the Housing Market?

What is happening in the Housing Market?

Marshallfield - front

Recently, an article in Housing Newsletters caught my eye when it was discussing the reasons that housing has room to run. In Palos Verdes and the South Bay, prices seem to be increasing or holding their own when it comes to the market. As seen in my market surveys the market is still moving forward. Here are some of the tips that the article was stating.

Rates seem to be doing more rising than falling recently. In some areas home sales have been leveling off, but that also could be because of time of year. One of the first pieces of evidence was in the form of Friday’s Consumer Price Index CPI. This important inflation report has had a big impact on interest rates in 2017. If this data suggests that the Fed needs to hike rates faster or slower, the bond markets will quickly adjust to account for the shift in expectations.

At the end of 2016 the Fed felt that they could continue to hike rates due to the strong labor market and policies associated with the new administration. However, while continuing to hike rates inflation hasn’t risen to the Feds defense. In fact, inflation is trying to hold the line.

The sharp drop to recent lows is why the rates haven’t moved higher as forecaster predicted. Actually analysts expected inflation to begin lifting off from the lows citing the impact from higher fuel prices due to the hurricane season. While they did rise abruptly, other price measurements offset the fuel effect making the reading lower than expected.

The good new about low inflation is that it does help rates. Even the stock market doesn’t mind the news. Mostly they were already drifting higher due to reports earlier in the week. In focusing only on rates, good things area happening  with the inflation data helping to reinforce a bigger ceiling around 2.4% in terms of 10 yr Treasury yield which is the most followed benchmark for longer term rates such as mortgages..

Housing magazine this past week discussed mortgage lending guidelines, which could end up being twice as loose as they are now and that could bring us back in like with historical healthy levels.This would help bring more potential buyers into the market from the guideline changes .

Another interesting piece of the report from CoreLogic was the comparison of the current housing boom/bust cycle to past examples.  In many areas prices still haven’t crested to pre-crisis levels, which means there is more room to run. This does vary from market to market, but the bottom line is that some of the price appreciation that has been seen in the past 5 years has to do with how hard we fell at the start of the crisis.

Photo courtesy of the MLS.

 

If you have any questions about the real estate market, or if you are interested in selling or purchasing residential or commercial property please feel free to contact me.

 

 

Palos Verdes 2017 Market Data Report 3rd Quarter YTD

Palos Verdes 2017 Market Data Report 3rd Quarter YTD

Marketing 3rd QtrPalos Verdes 2017 Market Data Report shows an increase in sales in all neighborhoods from 2016.

Currently, Mira Catalina has posted the largest gain in average sales price for Palos Verdes homes at 64%, followed by Monte Malaga at 37.5% and Lunada Bay at 15%. Lunada Bay posted the largest number of Palos Verdes homes sold to date in 2017 at 80, compared to 57 homes in 2016.

For more information on the Palos Verdes & Harbor Market Intelligence Report click here.

Making a Home Equity Line of Credit Work for You

Making a Home Equity Line of Credit Work for You

craftsman style

I recently received a newsletter from Bank of America which spoke about (HELOC) Home Equity Line of Credit and how it can help my clients. I thought I would pass on some of the most interesting points that were made.

A (HELOC) loan can help make renovating a home more affordable for clients who are interested in making upgrades to their property. This type of loan typically has lower interest rates and is often tax deductible. It also mentioned how just choosing one of these three improvement projects below might help to increase the long term value of your home.

1. If you can only afford to remodel one room of your home, the best bet would be the kitchen. Although the cost can vary depending on work, it seemed to have the highest return.

2. Making your home “everyone friendly” is the new universal design that incorporates features to modernize a home and make it more functional for a variety of buyers. For instance a universally designed bathroom might give a 60% return when selling your home.

3. Boosting your curb appeal is a great investment since it makes potential buyers want to come inside. Whether it is just new doors and siding, it can generate a higher return than other improvements that could be done on a homes interior.

To read more about home improvement value go to Remodeling Magazine’s 2017 Cost vs Value Report or click here.

 

AboutPV Introduces AboutSouthBay.com

AboutPV Introduces AboutSouthBay.com

Gazebo at Roessler Point, Palos Verdes Estates, CA 90274

AboutPV has expanded and now has added it’s neighbor AboutSouthBay.com to it’s websites. Looking out from Roessler’s Gazebo over the south bay beaches, AboutSouthBay will be introducing to it’s readers not only local real estate news, but also weekly local events that will be taking place around the South Bay area.

Whether you area looking for that special home in the South Bay, a fun community event with the adult in mind, or a family event that you can enjoy with your children, we will give you a selection of places to go and things to visit.

Just give us a couple of weeks to get all local community links added to the site. We want this to become your go to site to keep you involved with upcoming events and community information, plus current real estate information.

Photo of the Roessler Point Gazebo.

 

 

 

Palos Verdes Homeowners Ask “What is an Uninsured Deed”?

Palos Verdes Homeowners Ask “What is an Uninsured Deed”?

Peninsula 2

Palos Verdes homeowners need to be aware of the risk of an uninsured deed. Recently Ticor Title sent out a reminder to real estate agents regarding why this could be of concern. The most common problem of an Uninsured Deed comes in the form of a Quictclaim deed between family members. When a person gets added to title, this is a window of opportunity for those against him/her to attach to the property.

When you are selling your property, it is always best to use a realtor.  They will use a title company to make sure that a recorded Uninsured Deed will be shown on the Preliminary Title Report, which is for the protection of the homeowner to make sure the deed was not signed fraudulently or under duress which was the intention of the grantor to transfer title.

A realtor would know how to spot this kind of activity on a property profile. If they find that there is no title order number, escrow number, or even an accomodation stamp they will immediately notify the client. Without having this set of extra eyes, a homeowner may find themselves in need of an attorney to help settle their property issues.

 

 

 

Palos Verdes Quarterly Sales Report April – June 2017

Palos Verdes Quarterly Sales Report April – June 2017

Enrose - front

Palos Verdes real estate market has increased in the first six months of the year, with sales price and average square foot prices increasing.The overall area markets seem to be feeling the same movement with interest rates still low, and first time buyers getting the sticker price shock.

RE/MAX Estate Properties has put out an actual closed sales price report for Westside sales, South Bay sales, Palos Verdes and Harbor areas sales. To read more on each of these area statistics click here.

Above is my listing at 28623 N. Enrose Ave, Rancho Palos Verdes. This gorgeous home is in move in condition with 3 bedrooms/2 baths and 1,856 square feet. it has been remodeled with an open concept floor plan and new wood flooring throughout. It features a gorgeous kitchen with granite counter tops, stainless steel appliances and a large center island. With two fireplaces, and a large formal dining room this is a perfect home for entertaining. Come by my Open House this weekend on Saturday or Sunday from 1 – 4 p.m.

 

 

Charming Rancho Palos Verdes Home Open Saturday 1:00 – 5:00 p.m.

Charming Rancho Palos Verdes Home Open Saturday 1:00 – 5:00 p.m.

Enrose - front

This charming 3 bedroom, 2 bath, 1,856 square foot home, is located at 28623 N. Enrose Avenue in Rancho Palos Verdes. It is now on the market for only $948,800,   and I’m sure will not be on the market long. This home features an open concept, a remodeled kitchen with granite counters and large center island. The house has fireplaces located in both the living room, and the family room. There is also an additional room that can be used as an office or formal dining room.

This home is close to shopping, restaurants and the freeway. It is also within the Palos Verdes award winning school system.

This beautiful home will be held open this Saturday from 1:00 – 5:00 p.m.

To see the Virtual Tour of the property click here.

For more information on this property contact Tuba Ghannadi at (310) 686-4688.

Beautiful Redondo Beach Townhome Coming Soon!

Beautiful Redondo Beach Townhome Coming Soon!

Marshallfield - front

Come see my beautiful new listing at 2209 Marshallfield Lane #A, in Redondo Beach. Going on the market today, this exclusive quality home built in 2002 by AGAR HOMES, has a floor plan that is simply one of a kind. It has 4 bedrooms, 4 baths, and 2,895 square feet, sits on a 5,996 square foot lot and is listed for sale at $1,098,800.

This gorgeous townhome features Alder wood cabinets, ground floor bedrooms, large master suite with vaulted ceilings, gas fireplace and walk-in closet. The gourmet kitchen has granite counter tops, center island and breakfast bar. There is a spacious living room with fireplace. It also has a 2 car attached garage.

This majestic home has tremendous curb appeal. Located in a prime Redondo Beach area, this home is designed as an entertaining masterpiece w/top quality material.

Please stop by my Broker’s Open House on Thursday, May 18, 2017, from 12:00 p.m.to 2:00 p.m.  You can also attend this weekend’s Open Houses on Saturday & Sunday, May 20 & 21, 2017, from 1:00 p.m.to 4:00 p.m.

To view my virtual tour show click here.

Palos Verdes Investors Dream Home!

Palos Verdes Investors Dream Home!

Verde Ridge Picture

Located in Rancho Palos Verdes, my new listing at 6781 Verde Ridge Road, has panoramic ocean and coastline views, and just came on the market today. This 5 bedroom, 4 bath, almost 2,800 square foot home is listed for only $1,398,000. Walking to the local park, and the elementary school is easy. Enjoy the homes formal living and dining rooms. The house has an extra large 2 car garage, views from almost all rooms, and most bedrooms have walk-in closets.You can also relax in the flat t backyard area where the views go for miles.

If you are interested in seeing this home, it will be on Broker’s Open House today (Tuesday) from 11:00 to 1:00 p.m. 

Beautiful Palos Verdes Townhome!

Beautiful Palos Verdes Townhome!

37 Oaktree Lane, RHE - View

Located in the City of Rolling Hills Estates, my new listing is a beautifully remodeled townhouse with over 2,184 square feet of living space for only $899,000. This lovely home features sparkling city lights views and is located in the popular 24 hour guard gated community of “The Terraces”. Close to award winning Ridgecrest Junior High School, Peninsula High School and Peninsula shopping centers it is located on a private & quiet cul de sac. Upgrades include remodeled kitchen with granite counters, stainless steel appliances. All three remodeled baths, wood floors throughout, smooth ceilings with recessed lighting, crown mouldings and more. Spacious wooden deck off dining and breakfast room overlooking tennis courts.HOA amenities include Pools, Spas, Tennis Courts, Club House and Greenbelt.  Tax record shows this the property as a 3 bedroom, but currently has 2 bedrooms and a den, with a spacious master bedroom that includes his & hers walk in closets & sitting area.Tastefully remodeled master bathroom with granite counters, and remodeled downstairs guest bathroom. New recessed lighting in kitchen & master bath. It also includes an entry hall chandelier, dining room chandelier and a replaced wooden pation deck and new roof.  All remodeling was done within the last 10 years.

For more information about this property please visit www.tubasellspv.com.