Congratulations to Nancy Dixon! She is the winner of the $50 gift card. Thanks to everyone who came to the open house!
I just had the opportunity to work with Professional Inspection Network this week. Clients of mine are buying a home in Redondo Beach and Chris Vella from Professional Inspection Network came out to the property. He did a thorough inspection and took color photos, making it easier for my clients to understand and follow the inspection report. What really impressed me was that this company offers, at no cost, consultative services to all their clients. So in the event my clients ever have to do work on their home, they can call Professional Inspection Network to review any quotes they get. This way they can make sure the work that is being done is necessary and they are being charged a fair price. It made my clients feel good to have someone in their corner who is watching out for their best interest.
There has been a recent increase in prices for 4 bedrooms in North Redondo. Two-on-a-lot town homes built within the last 6 years have returned to prices in the mid to low $800,000s. However, 3 bedrooms in the same market have continued to languish in the mid $600,000s. Their climb has been much slower with more stumbling blocks. But in general, there are plenty of buyers out there who are ready to buy. When the right inventory comes along, we are seeing multiple offers.
I will be holding 951 9th Street open this Sunday from 2 – 5 pm in Hermosa Beach. We just had a $100,000 price reduction. This is a great corner lot on top of the hill with amazing views and a unique floor plan. Come by and check it out!
Well, the unbelievable happened. A lender had an appraisal done a few weeks ago on a property that my client was buying, and the appraisal came in higher than the sales price. It does happen! If you have an appraiser who is familiar with the area, you have a much better change of getting an accurate appraisal. And my client got some additional built-in equity.
I will be holding an open house this Sunday, February 13th from 2 -5 pm at 951 9th Street in Hermosa Beach. It’s a fantastic property in a great neighborhood on the corner of 9th and Ocean. Opportunities like this don’t come along very often on this street. This house sits up on the corner with amazing views, a versatile rooftop deck, four bedrooms, four bathrooms, a remodeled kitchen, balconies, patios, and storage galore!
I have spoken to a handful of general contractors in the South Bay since the beginning of the year, and it seems like business is picking up. They all have jobs lined up over the next several weeks for major remodels. Some clients have gutted recently purchased property. Others are staying put in their current residences and giving their homes a face lift.
If you are thinking of updating your home to prepare to sell, remember that you won’t get a 100% return on your remodeling costs. Exterior renovations still seem to go the furthest. Curb appeal and first impressions are crucial when selling your home.
Congress just passed, and the President signed, legislation that extended the loan limits for Fannie, Freddie, and FHA. Conforming loan limits will remain at $729,750 through September 30, 2011.