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This past week the Woolsey and Hill Fires in Southern California and the Camp Fire in Northern California have affected millions of people in the most deadly and destructive fires in our state’s history. Donate! Before we dive into this week’s blog, I want to salute the first-responders and offer condolences to all the people that have lost homes and loved ones. Please donate to help your California neighbors in need. We here at Manhattan Pacific Realty have donated $500 to the relief efforts of the American Red Cross. We will match donations from every reader up to a total of $500 of those that choose to donate after the posting of this blog. Shoot your
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When most people speak about depreciation and real estate, they talk about the tax benefits. Often, you will hear a new real estate investor or some real estate guru say, “You can earn cash flow tax-free because in real estate there is depreciation!” The problem with this statement is that depreciation is very real and tax benefits are given to allow property owners to consistently invest in aging real property, like a new roof, updated plumbing, or new electrical systems. Depreciation Rules For commercial property, the life and deprecation schedule granted by the IRS is 39 years. Have you ever seen a commercial property that has not been upgraded in 39 years? It is about as
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There is much to debate about off-market deals in present day residential real estate. Over the past 10 years, I have seen the good, the bad, and the ugly. In today’s blog post, I will illustrate my opinions on off-market deals and hopefully give you some good insight.   One: Leave the off-market deals to the professionals “Listen, here’s the thing. If you can’t spot the sucker in your first half hour at the table, then you ARE the sucker.” This famous quote by Mike McDermott (Matt Damon) in the 1998 poker cult-classic, “Rounders,” helps to personify residential off-market deals. The reference is made to describe a newbie poker player (a.k.a. a “fish”) trying to play
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For many, Labor Day weekend marks the beginning of school, football season, and Fiesta Hermosa. In real estate, it is the unofficial kick-off to the the fall selling season. Fall Season & New Listing Contrary to popular belief, fall is one of the best seasons to sell in the South Bay. That’s right, much better than the dog days of summer in July and August and only behind the famous Spring selling season as the best seasonal time to list one’s home. Some agents and sellers choose to bring out new listings over the holiday weekend and others choose to list the weekend after. Each strategy has its own merits, which I can get into another
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Today I am going to touch on the topic of interest rates, the Federal Reserve (Fed) balance sheet normalization, and how it is affecting real estate today and in the future. Below I will share my exploration of charts from the Fed and a breakdown of what exactly is influencing interest rates. I am not an economist or financial advisor; I am a real estate investor and local broker studying complex economic topics and how they will impact our local South Bay market. My hope is to shed some light on a topic that will help my readers, clients, friends, family, and anyone interested in real estate.   Fed Normalization Before I dive in, I wanted to
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With the Fourth of July holiday this week, the real estate market has taken a short pause. I wanted to take this time to share a few quick notes on local happenings throughout The Hill and Beach Cities that could impact the surrounding real estate market.   Palos Verdes Peninsula/Rolling Hills The famed Hacienda de la Paz at 1 Buggy Whip Drive in Rolling Hills is finally going to auction. After five years of being on and off the market, it looks like the Seller is going to let market forces determine the value. Originally asking $53,000,000 in 2013, the 7.4 acre Spanish estate is currently on the MLS asking $40,000,000. Per the MLS and auction
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Oftentimes you’ll hear people around the South Bay say, “Beach real estate never goes down…it’s the safest investment around.” Is that actually true? U.S. bonds offered by the U.S. Treasury are more generally considered the safest investment in the world and they are oftentimes considered “riskless” investments. In this blog post, I want to share what the local market thinks about the best income properties, and if premier South Bay real estate is considered the safest investment by investors. U.S. Treasuries Since 1776, the U.S. Treasury has never failed to pay back its lenders. When you purchase a U.S. bond, it is backed by the “full faith and credit” of the U.S. government. This is an
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What is a Transaction Coordinator? Hi All! I am taking over Richard’s South Bay Real Estate Blog for the week. For those who don’t know me, I am the behind the scenes gal that you don’t see much, but I am always busy doing something at Manhattan Pacific Realty. I am Richard’s Transaction Coordinator. What is a Transaction Coordinator (TC) you might ask? A Transaction Coordinator is a real estate professional who manages all the disclosures, paperwork, and deadlines involved in a real estate transaction. They are trained in the selling and buying process, and track the progress of a transaction from the opening of escrow until closing. Why is a Transaction Coordinator Important to You?
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Interest Rates Rising The stock market has been crazy this week and a large part of it has to do with the interest rates rising significantly. A lot of experts watch the 10-Year U.S. Treasury note where rates have jumped from 2.46% to 2.84% in the first 30 days of the year. That is a massive jump for a somewhat stable security and as a result has some people worried. Now, the 10-Year U.S. Treasury does NOT directly affect mortgage rates contrary to popular belief (my first job out of college was a mortgage broker so I studied this in depth), but the 10-Year is used as a hedge for mortgage investors. Banks and originators of
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Last week I was fortunate enough to chat with TheStreet.com and LA.Curbed.com, two influential financial and real estate websites, on the trends shaping the real estate market. In case you missed the published articles where I earned a quote or two, I thought I would recap the information and share my thoughts on each article. 5 Trends Shaping the 2018 Real Estate Market, The Street.com by Brian O’Connell Rates rising, but not a big problem for buyers…yet This was the topic my interview covered. For my readers, you have been well educated on my thoughts of where interest rates will go this year (South Bay Real Estate: 2018 Fearless Predictions) and why (South Bay Real Estate
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