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Southwood and West Torrance Update - October 2014

 

Newsletter Update - Oct 2014

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The market is starting to lose a little energy as pricing has been become moreafactorthenanytimethisyear. Valuesescalatedsoquicklyinthefirst 2 quarters that an adjustment was inevitable. I am seeing homes stay longer on the market, and price adjustments happening a little more frequentlyaswell. InterestratesremainlowandFedChairmanJanet Yellenmentionedlastweekthatratescouldremainlowfor a"considerable period of time". Educated guesses say sometime in the second quarter of nextyear. Rightnowconformingfixed30yearnotesareinthelow4'sand sub 30 year notes are in the mid 3's.


Qualifying for loans will become somewhat easier in 2015 as Fannie Mae and Freddie Mac will be switching to updated software using different filters. TheWashingtonbasedFinancialServicesCommitteeislookingat changes to people's FICO scores and assessing the damage done by delinquentmedicalbills,bankruptciesandshortsales. Theywillnotding your credit as hard for collection accounts, most specifically medical, as it is not representative of risks. Many people had their credit scores drastically affected by the downturn in the economy, and now adjustments will be made. Theyarealsolookingintostudentloansandhowchangescouldbe made their as well.

 

Locally, as I mentioned there is a little bit of a wait and see attitude with some buyers, however, a properly priced home will sell quickly with multiple offers, just not as fast as before, and not as many offers as before. Certainly not as many cash offers as we saw throughout most of the year. Buyers are becoming more specific in what they want, like remodeled bathrooms and kitchen, updated electrical, newer double paned windows, newer roofs, and of course hardwood floors are still very much in demand. Buyers will pay a premium if those items are done and of course they always pay more for bigger lots.


As I mentioned last month the movement of relocating sellers and buyers is picking up steam. The first wave of Toyota employees moving to Texas has started with the largest number of moves for that company still a couple years away. Boeing is relocating their employees more rapidly now and Northrophasbeenconsistentthoughslowintheprocessofrelocatingtheiremployees. Iam certified to handle all of those companies so when you are approached by your human resources contact please let them know you have a local agent. See you around the neighborhood!

 

Outstanding Landscaping Award

desmonds-2756w233rdCongratulations to the Desmond Family on winning the Outstanding Landscaping Award for the month of October. Their front yard boasts palm trees, terrace stone planters, a variety of green shrubs, rock planters and a stone walkway. If you get a chance, try to get by their home located at 2756 W. 233rd St. The Desmonds received a $50.00 gift certificate to the Outback Steakhouse. Each month, I present this award to a home with distinctive landscaping.


Outstanding Landscaping Award

nestlerode-20600vaccaroCongratulations to the Nestlerode Family on winning the Outstanding Landscaping Award for the month of October. This is another property with eco-friendly landscaping, featuring no grass, a sculpted rock river and large accented stones throughout the front yard. If you get a chance, try to get by their home
located at 20600 Vaccaro Ave. The Nestlerode Family received a $50.00 gift certificate to the Outback Steakhouse. Each month, I present this award to a home with distinctive landscaping.


Outstanding Landscaping Award

janet-5037jacquesCongratulations to Janet Liebl on winning the Outstanding Landscaping Award for the month of October. The common theme this month is one of eco-friendly landscapes. Janet's front yard features stone walkways, rock planters and drought resistant foliage. If you get a chance, try to get
by her home located at 5037 Jacques St. Janet received a $50.00 gift certificate to the Outback Steakhouse. Each month, I present this award to a home with distinctive landscaping.


Check out John's Featured listings here.

 

 

September Winners & October Giveway

 

Congratulations to Sandy Taleno and Kathleen DeMott on winning the two $50.00 Staples gift certificates for the month of September. Just in time for school supply shopping! For the month of October, I'll be giving away two $50.00 Michael's gift certificates. Email me, drop a note in the mailbox, or "Like" my Facebook page at facebook.com/johnbriscoehomes and comment "Enter me in your October giveaway!" to enter. Entries must be received by October 15th.

 

Congratulations to Michael Harding on winning the $50.00 Staples gift certificate for the month of September. Just in time for school supply shopping! For the month of October, I'll be giving away a Michael's gift certificate. Email me, drop a note in the mailbox, or "Like" my Facebook page at facebook.com/johnbriscoehomes and comment "Enter me in your October giveaway!" to enter. Entries must be received by October 15th.


 

Properties Closed since 08/15/14

5009 Sepulveda Blvd 1494 Sq. Ft. $717,000
21410 Majorie Ave 1272 Sq. Ft. $746,000
5103 Lee St 1120 Sq. Ft. $750,000
21213 Anza Ave 3571 Sq. Ft. $1,080,000
4754 W. 191st St 1102 Sq. Ft. $612,000
4624 Talisman St 1098 Sq. Ft. $643,000
4529 Cadison St 1956 Sq. Ft. $730,000
4815 Darien St 1162 Sq. Ft. $755,000
20116 Entradero Ave 1500 Sq. Ft. $763,000
19603 Mildred Ave 2111 Sq. Ft. $775,000
20005 Bellamare Ave 2159 Sq. Ft. $819,000
19929 Bellamare Ave 1900 Sq. Ft. $840,000
5511 Wilma St 2143 Sq. Ft. $900,000
20813 Wendy Dr 2884 Sq. Ft. $1,096,000
22703 Fern Ave 1636 Sq. Ft. $710,000
22645 Iris Ave 1345 Sq. Ft. $722,500
2864 W. 234th St 2599 Sq. Ft. $860,000
22934 Juniper Ave 2337 Sq. Ft. $890,000
23192 Maple Ave 2931 Sq. Ft. $1,114,000

Information provided by the Multiple Listing Service 

Information deemed reliable but not guaranteed.

*I represented the buyers in an off-market sale.




Recent Activity

 

 

wayne-ave-wtorrance

Wayne Avenue, West Torrance

New listing, 4 bedrooms, 3 baths,

family room and pool.

Great West Torrance location.
Listed at $799,00




 


 


Garage Sale Signs


Don't forget I have garage sale signs for your use. Just call me and let me know when you are planning to have a sale and I will deliver and pick up the signs for you.

 

Changing Debt Trends Among Young Adults


More than a third of Americans age 24-28 have debts that exceed their assets. They are taking on far less mortgage debt and far more student and credit card debt than the early and late boomers did at that age. Only 19.8 percent of today's young Americans have home-related debt, down from 29.9 percent of their peers in the late 1980s and 43.1 percent of those in the mid-1970s. Conversely, 22.4 percent of young people today have education debt, compared with 5.1 percent among late baby boomers.

 

Highly Recommended

I referred you last month to a top professional in the industry, Nader Chahine with Cornerstone Lending. If you're looking for a HELOC or you are considering refinancing or purchasing, Nader's group has excellent service and rates. Give him a call at 310-372-8800 or email him at This email address is being protected from spambots. You need JavaScript enabled to view it. .