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Beach Cities Realty

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Southwood and West Torrance Update - Mar 2017

 

Newsletter Update - March 2017

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We finally got a lot of the rain this state badly needed in the last few months. Hopefully this will sustain us until next year. I can't remember so much rain in such a short period of time and that one particular Sunday was crazy. Anyway, the views of the mountains and downtown LA skyline were good to see so clearly once again. The local real estate market is experiencing a tremendous velocity, and it definitely reminds me of 2006. I don't know if that is a good thing but something to pay attention to as the year unfolds. It's been basically the same old story of low inventory and high demand combined with low rates. The interest rates are not as low last year but the inventory is even less than last year and demand seems to have picked up as well. This all leads to multiple offers and one particular property in West Torrance had over 20 offers on it. Of course it depends where you initially list the property, and once again all cash is king, winning over financed offers even with heavy down payments.

 

In the Big Picture the US economy added 235,000 nonfarm payrolls in February, many more than expected, and the unemployment rate dipped to 4.7%, which the Labor Bureau stats showed on Friday, the 10th of March. As expected as a reaction to those statistics, the Feds will most likely be raising rates certainly by the time you receive this newsletter. What will determine the direction of future mortgage Rates is whether or not Fed Policy makers point to further rate hikes in the coming months. Most economists believe that there will be a total of three one quarter point increases for 2017.


I think the most surprising thing I have noticed in this early part of 2017 is the price principals will pay for "flipped" or complete remodels. Some of these remodels are not particularly done well but it doesn't seem to matter.


I take surveys of my clients who are selling and find out where they are relocating to after the sale of their home. If they are not Toyota Relocation clients, because I know where they are going, it seems that Nevada has become the new hot spot. Either they are moving to Henderson which seems to be very popular or the newer communities in North Las Vegas. Each year it changes but this year Nevada seems to be the place to go, especially for retirees. Call/text/email me if you are considering selling or buying as I am always getting top dollar for my clients.

 

 

Please consider my 38 years experience, local knowledge and proven track record when you are ready to buy or sell. See you around the neighborhood!

 

 

Properties Sold Since Feb 1st, 2017

 

 

5621 AVENUE A

920 SQFT.

$849,000

23607 EVALYN AVE.

1539 SQFT.

$862,000

22708 LADEENE AVE.

1744 SQFT.

$881,000

2611 W. 232ND ST.

2147 SQFT.

$899,900

2949 W. 226TH ST.

2388 SQFT.

$1,100,000

 

Information provided by the multiple listing service. Information deemed reliable but not guaranteed
the broker/agent information herein may or may not have been the listing and/or selling agent.

 

 

January Giveaway Winners and March Giveaway

 

Congratulations to both Stephanie Dyo and Steve Howlett on winning the two $50.00 gift certificates to Target!   For the March Giveaway it will be two $50.00 gift certificates to Lowes!  This is the perfect way to help you in your spring planting and help you to hopefully win the next Outstanding Landscaping award!  Email me, send a card, or Like and Comment on my Facebook to enter.  Deadline is April 5th.  Good Luck!