Because it shouldn’t be any other way!
RSS icon Home icon
  • Solar Shades Installed at Redondo Schools

    Posted on January 15th, 2014 acimetta No comments

    Measure Q is at work in the Redondo Beach Unified School District. Over the holidays, construction started at 12 campuses for solar shade structures. These structures offer shade for cars in the parking lot while simultaneously creating solar power for the schools which should help reduce their utility bills. The hope is that with the savings the schools can  reallocate funds to other areas.

    The above photo is of the parking lot at Lincoln Elementary in Area 151 of North Redondo Beach.

    Besides the solar shades, other projects include technology infrastructure and computers for students, new and replacement athletic fields, upgrade emergency communication, new classrooms, and security fencing.

  • Real Estate Advice: Termite Inspections

    Posted on January 9th, 2014 acimetta No comments

    Termite inspections are usually paid for by the seller. And typically the seller pays for Section 1 items and the buyer pays for Section 2 items. This will all be clarified in the purchase contract (RPA) and the Wood Destroying Pest Addendum (WPA). Don’t assume this is how it’s going to be… make sure you deal with this in your negotiations!

    Section 1 items are any repairs or treatments that are required in order to get a clearance from the termite company. Examples of Section 1 items are fumigation, spraying, and replacing rotted wood. Section 2 items are those things that do not currently pose a problem but could be a problem in the future. You can consider Section 2 items precautionary measures. For instance, the termite report might indicate that the soil is too high up on the exterior wall of the house. There’s no current problem, but this could lead to dry rot down the road.

    Case Study: Termite Inspection in Redondo Beach

    Last week, a client of mine had a home inspection for a town home in North Redondo, and the home inspector cited termites in the fence between the property and the neighboring property. The inspector made note of it and suggested any further investigations be taken up with the termite company. However, the termite report didn’t make mention of any termites in the fence.  Fences that appear to be on property lines are never included in termite reports because the termite company has no way of knowing who owns or who has responsibility for the fence. Fences are neither Section 1 or Section 2 items. The termite company also explained that it’s not cost effective to chemically treat a fence for termites. You’re better off taking the money and putting it toward replacing wooden boards.

  • Redondo Beach Brokers Open Favorite Listing

    Posted on September 19th, 2013 acimetta No comments

    Redondo Beach Brokers Open Today

    Of all the listings I saw today, my favorite was 520 N Guadalupe, #C in South Redondo. I’ll be honest… I wasn’t crazy about climbing all the stairs to the front door, but it will be easier from the garage. This town home has nice ocean views from the master bedroom. But what it also has is tons of space. This home feels substantial. And the back patio is lovely with stone and a fountain. The kitchen is great too. This home needs some updating, but it is, without a doubt, move-in ready.

  • Redondo Beach / Area 151: Home Sales August 2013

    Posted on September 19th, 2013 acimetta No comments

    North Redondo Homes Sales August 2013

    Seventeen homes sold in August 2013 in Area 151 in North Redondo. This is 2 less than the number of homes sold in July, and 4 homes less than sold one year ago in August 2012. In most cases, it has continued to be a sellers’ market although buyers still have the advantage of buying homes at prices below the peak of the bubble and at low interest rates.

    New construction is still a good buy considering you can spend the same (and even more money, in some cases) and get a town home that is up to 7 years old. Most homes are still selling quickly… many within the first week. And this translates into offers coming in immediately followed by a couple of days of negotiations before an offer is accepted.

    One of the sales that really surprised me is 2144 Perry Ave. It’s a single family that had an addition. It does have a lot of square footage, but there is only a one car garage and it’s lacking in the quality department. this one sold for $1,115,000. This surprised me and many of my colleagues, but it showed that buyers are still feeling that desperation to get in the market and ultimately willing to pay a premium.

    Address Sq Ft. Lot Year B/B DOM Sold Price Original List Diff
    2219 Curtis Ave, #C * 1,060 7,499 1975 2/2 7 $464,000 $499,000 -7%
    1900 Voorhees Ave, #B * 1,471 1987 2/3 6 $553,000 $495,000 +12%
    2512 Gates Ave, #B * 1,610 7,526 1999 4/3 48 $667,500 $663,999 +.5%
    2811 Barkley Lane 1,064 5,872 1947 3/1 21 $669,000 $669,000
    2225 Mathews Ave, #C * 1,718 14,687 2000 3/3 8 $700,000 $649,000 +8%
    2223 Voorhees Ave, #B * 1,955 7,504 1981 3/3 8 $708,000 $700,000 +1%
    2415 Thomas Ave 1,590 6,550 1945 4/2 49 $722,150 $724,900 -.4%
    1918 Ruhland Ave, #B * 2,477 7,513 1987 3/3 0 $725,000 $725,000
    1921 Nelson Ave, #A * 2,054 7,480 1990 4/3 56 $750,000 $775,000 -3%
    2116 Plant Ave, #A * 2,050 6,655 1989 3/3 5 $817,500 $799,000 +2%
    2205 Nelson Ave, #B * 2,387 7,495 1986 3/3 34 $820,000 $769,000 +6.5%
    1913 Nelson Ave 2,180 1959 4/3 49 $828,000 $859,000 -3.5%
    2003 Curtis Ave, #A * 2,085 7,501 1990 4/3 9 $830,000 $779,000 +6.5%
    1914 Ernest Ave, #A * 2,300 7,500 2004 4/3 1 $910,000 $910,000
    2109 Plant Ave, #B * 2,357 7,504 2006 4/3 11 $930,000 $929,000
    2021 Gates Ave, #B * 2,508 7,481 2013 4/4 1 $959,000 $959,000
    2204 Plant Ave, #A * 2,500 6,645 2007 4/3 6 $959,900 $959,900
    2144 Perry Ave 3,134 7,509 1947 5/4 14 $1,115,000 $1,150,000 -3%

  • Termite work and your lender

    Posted on August 21st, 2013 acimetta No comments

    When you buy a home, your lender requires a copy of the purchase contract. They want to make sure that all the terms are met and their investment is protected. One of the sticking points is often the termite work. Once you include the Wood Destroying Pest Addendum in your contract, the lender requires that the work is done prior to close, and in some cases, prior to funding the loan. Without the termite clearance – proof that the property is clean – the lender will not approve your loan.

    Typically, in southern California, the seller agrees to pay Section 1 items and the Buyer will be responsible for Section 2 items. Section 1 items are those that must be fixed, i.e., dry rot, termite infestation, etc. Section 2 items are things that are not a problem now, but may lead to a problem later. These are preventative measures. The lender normally is not concerned with Section 2 items, however I have heard of some lenders requiring Section 2 items to be repaired as well. Consequently, I advise my buyers not to agree to Section 2 items so that the lender doesn’t require they be completed. This is as simple as not checking the Section 2 box on the WPA form.

    South Bay – Redondo Beach, Manhattan Beach, Hermosa Beach
    In the South Bay, we do come across some challenges from time to time. Due to the fact that we have many properties that have 2 or 3 attached town homes, but no active HOA, a problem arises when the seller of one of the units has termites and needs to tent for fumigation. In order to tent, they have to tent the whole structure which includes his attached neighbor(s). But what if the neighbor doesn’t agree to tenting? You are forced to do secondary local treatment to eradicate the termites, but the lender might not accept this alternative treatment and the loan, and ultimately the deal, could be in jeopardy.

    This can also be the case with two detached units that share the same gas line. Because you have to shut off the gas during fumigation, the neighboring unit must agree to this. It can make for a very sticky situation.

    If there is no way to convince the neighbor to cooperate with the fumigation, the other option is to remove the WPA from the contract. Once the WPA is not part of the contract, the lender will not require the work. However, as a buyer, you must be comfortable with he fact that the termite work will not be completed and you may need to tent in the future if and when your neighbor is cooperative. You may want to negotiate a credit from the seller for the cost of the fumigation in exchange for removing it from the contract in order to close the deal.

     

     

     

     

  • Just Sold: 602 S Broadway, #A Redondo Beach, CA 90277

    Posted on August 1st, 2013 acimetta No comments

    Just got an accepted offer on 602 S Broadway, #A! It’s a custom built townhome in South Redondo just a few blocks to the beach and close to Riviera Village! It has 3 beds and 2.5 baths with 2,355 sq. feet. There are 18″ ceilings in the living room. This home is light and bright and feels welcoming the moment you step inside.

    602 S Broadway, #A Custom Built Townhome

  • Making Home Affordable Program Has Been Extended

    Posted on July 20th, 2013 acimetta No comments

    The Obama administration has extended the Making Home Affordable Program until December 2015 in an effort to still help homeowners who are in danger of losing their homes to foreclosure. This also includes the Home Affordable Modification Program (HAMP) and Home Affordable Foreclosures Alternative program (HAFA). The former handles loan mods and the latter is for short sales.

    South Bay

    In the South Bay, we have seen far less REOs and short sales this year. However, there are still a number of homes in pre-foreclosure. Here are some current stats as of July 20, 2013:

    Redondo Beach: 34 homes in pre-foreclosure, 30 homes are bank owned

    Manhattan Beach: 7 homes in pre-foreclosure, 7 homes are bank owned

    Hermosa Beach: 14 homes in pre-foreclosure, 8 homes are bank owned

    Torrance: 24 homes in pre-foreclosure, 30 homes are bank owned

     

  • Listing of the Day – Redondo Beach

    Posted on June 27th, 2013 acimetta No comments

    204 N Lucia Ave, #B in South Redondo just came on the market. I previewed it today during Brokers’ Open. This Cape Cod style rear unit townhome has a cheerful, lovely ambiance from top to bottom. Dark wood floors and white walls give it a crisp, clean look. You just want to make yourself at home!

    There are ocean views from the deck off the top floor family room. There is a cute, manicured backyard accessed off the main living level. It doesn’t feel like a typical townhome. It’s nicely upgraded and I’m sure this one won’t last long. It’s my favorite listing of the day!

  • Taking the Real Estate Market’s Temperature: A Seller’s Market

    Posted on June 25th, 2013 acimetta No comments

    For the past several months in the South Bay, we’ve been experiencing a frenetic market where listings are sold in days, if not hours. If you blink, you miss them. Multiple offers on properties have effectively pushed prices up quickly. And there is no sign of a slow down yet. With that being said, this is a great time to be a seller. If you’ve been thinking about selling, you may want to take advantage of this climate: very little competition and desperate, aggressive buyers.

    If you wait too long and put your home on the market when everyone else does, then buyers will have their pick of their homes and prices will begin to stabilize. However, if you remain ahead of the curve, you will benefit from this buyer frenzy we are experiencing.

    If you would like to discuss your options in more depth, don’t hesitate to contact me at 310.542.9054.

    The chart above represents the Properties for Sale vs. Sold Properties vs. Properties in Escrow (pending) in North Redondo (zip code: 90278) for the time period of December 2012 – May 2013. You can clearly see that the number of homes for sale have not been able to keep up with the homes sold.

     

     

  • Reat Estate Statistics

    Posted on June 15th, 2013 acimetta No comments

    Here are some recent facts pertaining to the real estate market:

    1. In May, 40% of Americans said it was a good time to sell a home, up from 30% in April and 16% a year before, according to a survey from mortgage giant Fannie Mae.

    2. U.S. home prices jumped 12.1% in April year-over-year, marking the 14th consecutive month of gains, market researcher CoreLogic says.

    3. Nationwide, the supply of homes for sale in April was up 4% from January, when adjusted for seasonal patterns, says Jed Kolko, chief economist for real estate website Trulia.

    To see the full article go to http://www.usatoday.com/story/money/business/2013/06/10/americans-home-selling-fannie-mae-survey/2409835/.

     

    Because prices have started to rise, and in some cities at a quick pace, sellers are starting to feel that this is a good time to sell. If we start to get more inventory, we may see a more balanced market and prices could slow down. Until then buyers will continue to push prices up as they compete for properties.

    In Manhattan Beach, Hermosa Beach and Redondo Beach, we can see prices increase from one week to the next. As each property is sold, a new bottom is set. Buyers who consistently  miss out on properties to stronger bidders learn that they have to be overly aggressive in order to get their offer accepted. Buyers are coming in with all cash, large down payments, and they are offering well over the asking price. Appraisals are being waived. Contingency periods are being shortened. The one thing that can slow this down right now (all things being equal) is an increase in inventory.