Real Estate Tips

South Bay Brokers invites you to the Beach Cities Economic Super Panel. With Mark Vitner is a managing director and senior economist at Wells Fargo. And C.A.R. Chief Executive Officer Joel Singer. Also Barry Habib Chief Strategy Officer RPM Mortgage.
Date:  Wednesday, February 8, 2012
Location:  Crowne Plaza King Harbor – 300 N. Harbor Drive, Redondo Beach
Cost:  $15 per person T
ime:  8:00 a.m. – 10:00 a.m.
Parking:  $6.00 with validation / $9.00 Valet
Learn more get all the details Click Here

The Year of the Dragon officially began yesterday. This sign is associated with prosperity, will this be a good omen for home prices? Historically, this is a good year – at least the last three times it came around. Just look at the statistics from state and national Realtor associations. Home prices were up considerably the last three Years of the Dragon — 1976, 1988 and 2000. And sales were up on a state and national basis in two of those three years. If past history is any guide, the new lunar year could be when the housing recovery really gets under way.

– In 1976, the median price of a single-family U.S. home was up almost 8%, while in California, it jumped nearly 17%.

– Sales that year were up at least by 23% both statewide and nationally.

– In 1988, prices were up a more modest 4.3% nationally, while California’s price shot up 18%. It’s also the first year that the California Association of Realtors had figures for Orange County. How were prices locally that year? Up 25%!

– Sales likewise was booming on the state and local level in 1988, rising 10% statewide and up 8% in O.C.

– In 2000, prices were up on national, state and local levels, with California and O.C. home prices up 11% and nearly 13%, respectively.

– Sales that year were down in the U.S. and in California. But in Orange County, home sales increased 2.2%..
Will the Year of the Dragon be good for real estate? Let’s hear your comments.

Whether it’s a Zen, Asian-inspired bathroom, a dark and cozy powder room, or a traditional and girly master bathroom, readers rated spaces that evoked serenity and calm. High-end materials were a must, with marble and limestone popping up in almost every popular bathroom. And like most rooms this year, gray was a big favorite in bathrooms. Designers played with colder and warmer hues to distinguish clients’ bathrooms from the usual all-white spaces. Get inspired check out some great photos Click Here

You do not need to leave Manhattan Beach this weekend for fun and philanthropy. The Spark of Love Toy Drive is at Manhattan Marketplace Saturday and Sunday you can catch the magic of an Advent/Christmast organ recital. Roundhouse Aquarium Winter Carnival. The Beach Cities Toy Drive Wrapping Party. Irving Belin’s White Christmas and more. All this and more goings on in the South Bay this weekend, check out all the details Click Here

As we roll through the holidays and into winter, many would-be sellers will be holding off on listing their home, waiting for the spring “selling season” to put their home on the market. But if you’re ready to sell your home now, is waiting until spring the best strategy? Not according to the data, it isn’t. There is no better time than right now, the “waiting for a better time” strategy does not seem to be validated by statistics.

We pulled a year’s worth of data on three quarters of a million homes listed across the country and analyzed sales statistics by season. Here’s what we found:

• Homes listed in winter sell faster: 46 days in winter vs. 55 days in summer
• Homes listed in winter re more likely to sell: 59.2% sell in winter vs. 53.1% sell in summer
• Homes listed in winter ell closest to their original price: a 2.7% drop from the final price in winter vs. a 5.2% drop from the final price in summer, worth more than $7,000 on a $300,000 home

Homes listed in winter sell best.

Yup, you read that right: Overall, homes listed in winter sell best. 5.8% more homes listed in winter eventually sell (compared to the overall percentage of homes listed throughout the year), and they sell 1.4 percentage points closer to their original list price than the median—that’s $4,900 on a $350,000 home.

Why is that you ask? One reason is less inventory, there are fewer home on the market to compete with. Second, serious buyers that are highly motivated shop through the winter months. Lower inventory and more motivated buyers are a good combination for favorable selling conditions. Food for thought, let us know what you think.

According to the latest UFA mortgage report by University Financial Associates the stage is set for a recovery in the housing market. The UFA Default Risk Index edged lower for the fourth quarter of 2011, which suggest that residential default and prepayment risks are continuing their return to normalcy. With consumer balance sheets improving and mortgage rates at record lows, the stage is set for a recovery in the housing market. For more details on full story Click Here

Pent-up demand could finally be working its way through the market. Pending home sales rose sharply in October according to the National Association of Realtors. The latest statistics reveal that contract signings rose 10.4 percent for the month and are now 9.4 percent above 2010 levels. This is an encouraging sign that pent up consumer demand building over  the past several years could finally translate into meaningful  improvement for the housing market. The driving force behind this improvement increased affordability, from record low mortgage rates and downward pressure on pricing. Read more Click Here

You can turn a boring room into beautiful one with a little creative use of color. Check out some of the hottest shades in today’s world of interior design. Do not be afraid of some of these daring hues. Teal blue for some instant pop. Emerald green as a polished statement and sophistication. Coral is cozy warm color that adds a contemporary flare. Metallics are making a comeback and add luxury and flair to any room. Have you used some of the years hottest colors? Check out some great photos Click Here

Home prices and mortgage rates have fallen so far that the monthly cost of owning a home is more affordable than at any point in the past 15 years and is less expensive than renting. Low home prices mixed with low mortgage rates—hovering at 4 percent or even lower—are creating an appealing buyer’s market. Home ownership is also looking more affordable because after several years of declines, apartment rents are on the rise, and is projected to rise by around 4% this year. Great article with videos and interactive graphics: Click Here

Enjoy “Modern Comfort”. Take a photo tour of 6 inspiring contemporary houses infused with character and comfort. A common misconception is that modern and contemporary homes are stark and cold. Nothing could be further from the truth; this architecture may encourage one to cut down on clutter, but rustic accents, hand-me-down furniture, warm wood finishes and soft upholstery add comfort and warmth to these spaces. Please see take the photo tour Click Here