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Today, I am diving into everyone’s favorite topic…interest rates! National U.S. mortgage rates can go much lower over the long term, which in turn means, South Bay interest rates can head lower as well. Do I believe rates will go lower in the near-term? Absolutely not. The residential real estate market right now is insane, but there is far too much “bubble talk” that makes things confusing for your average buyer or seller in our local South Bay market. Combining an insatiable appetite for homes with low supply, along with generationally low interest rates, there are many saying this is a bubble or a top that cannot last. The massive price increases we have seen throughout
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For this week, I am going old school. I am throwing it way back to a blog post in 2016, the first full year of writing my weekly blog. Six years is not that long for anything, but as a Realtor, it feels like a lifetime ago. Writing is not my strong suit and this blog is the most challenging “to-do” of my week. I struggle to write informative blogs that are easy to read for the non-professional. Sometimes I pull it off and other times not so much. After going back and re-reading my 2016 blog post, I am pleased to report that after six years of writing every single week, there has been improvement.
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Every so often I write about The California Association of Realtors (C.A.R.’s) housing affordability numbers as I believe they are a great indicator of whether a market has more room to run or might lose some steam. For past blog articles, please reference these links below: “California Housing Affordability: Strength or Weakness for Prices?” “South Bay Real Estate: 2018 Data for Homeowners” For this week, I am going to give you an update on California’s statewide affordability numbers, along with the county of Los Angeles’ numbers. Further, I am going to take the new Census median income data and apply it to South Bay median prices/minimum qualifying income to buy a home. C.A.R’s Housing Affordability Numbers
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Currently, Redondo Beach has listed not one, not two, but three properties going to auction! Well, two of the properties are in Torrance (Hollywood Riviera) but with Redondo Beach mailing addresses. Nonetheless, clients always get excited about auctions. This week, I want to break down the style each of auction listings present, along with how to quickly analyze which property might be the one for you. Let’s take a look at the three properties: Probate Auction with Court Confirmation 456 Camino De Encanto, Redondo Beach 4 beds, 3 baths, 2,505 sq. ft. 7,322 sq. ft. lot Asking Price: $2,111,000 A probate auction with court confirmation is a unique property sale that we do not see often
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It has been a long time since we have done a “deals of the week” blog post. Quite honestly, it is damn hard to find deals these days as a buyer. After multiple offers, the asking price on many new listings often settle on a number that is far less than a deal. That said, there is always a bargain somewhere and it is worth trying to find sneaky value where others might miss it…even if the exercise can be futile at times. Let’s get right into it… Rancho Palos Verdes First and foremost, we are going to start with a humble brag at my newest listing on the east side of The Hill. 3427 Newridge
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