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Newsletter Update - February 2014

southwood-newsletter1 southwood-newsletter2  southwood-newsletter3  southwood-newsletter4 

So far in 2014 much of the same dynamics that were in place throughout last year are still in place this year. In fact, I see even less inventory on the market now than this time last year. Pent up demand in 2013 combined with little inventory to sell created multiple offer situations on most properties that were listed on the MLS. Nearly 70% of all properties listed were sold with multiple offers. I don't expect that this year or should I say not as many offers will be generated on homes for sale in 2014. Where last year the average was around 5 offers per property, I can see that narrowing to two or three. Of course, this is on well-priced properties that have the data to support the value, not inflated values with no current comparables.

 

Interest rates remained in the low to mid four percentile last year and are pretty much the same in this current market. Many homes last year were sold all cash, in fact, over half of my listed properties were sold that way. I do not see that happening this year and securing loans will be more difficult with the onset of the Dodd Frank Bill and QM (Qualifying Mortgage) provisions. Interest rates will rise this year and I believe will settle in the five percent range, which may take time for buyers to get used to, but it will create a more "normal" market. The Feds are starting to pull back purchases of mortgage backed securities and that will create an uptick in rates. Look for that later in the year after the first quarter.

 

West Torrance homes are still very high in demand and buyers are willing to pay a premium to be here. As I mentioned, there is limited inventory on the market, not just in West Torrance but in the entire South Bay. As of now, there are only six homes available in all of West Torrance, which has over 5500 properties. In my 35 years of marketing homes I cannot remember a February with this little inventory. What this means to you the homeowner is buyers are waiting to see a sign up in the yard and putting pen to paper quickly. When there is little inventory like now it means that buyers have fewer choices and recognize that they have to act quickly to secure the home.


In the last newsletter, I mentioned that I have special programs for homeowners marketing their homes in 2014. Two sellers this year already took advantage of my offer and I saved them quite a bit of money while maximizing the value of their property. Please call for details if you are ready to sell your property soon. Please consider my 35 years of experience, local knowledge having grown up in West Torrance and proven track record when you are ready to sell or buy in the South Bay. See you around the neighborhood!

 

Outstanding Landscaping Award

20145-ocean-aveCongratulations to the Antell family on winning The Outstanding Landscaping Award for the month of February. It looks like they just designed and implemented a low maintenance front yard with drought resistant plants (consideringthelackofrainfall,not a bad idea.) They have a nice curved walkway and front porch made from stone that accents the front yard beautifully. The Antell family received a gift certificate to the Outback Steakhouse. I f you get a chance try to get by their home located at 21405 Ocean Avenue. Each month I present this award to a home with distinctive landscaping.


Outstanding Landscaping Award

19516-tomlee-aveCongratulations to the Kawamoto family on winning the Outstanding LandscapingAwardforthemonth of February. Their home has several Sago Palms throughout their front yard surrounded by a green lawn and sculpted bushes and plants and a very nice brick planter. The Kawamoto family received a gift certificate to the Outback Steakhouse. I f you get a chance try to get by their home located at 19516 Tomlee Avenue. Each month I present this award to a home with distinctive
landscaping


Check out John's Featured listings here.



 

February Winners & March Giveway

 

Congratulations to Misa Higgins and Kathleen De Mott on winning the two $50.00 gift certificates to AMC theaters. Next month I will be giving away to $50.00 gift certificates to Home Goods in honor of,well, spring. Drop a note in the mail,email me or "Like" John Briscoe Homes on Facebook to be entered TWICE and double your chances of winning. Good Luck! All entries must be received by February 28th


 

Properties Closed since 01/01/14

5105 Sepulveda Blvd 1162 Sq. Ft. $655,000
21621 Anza Ave. 1162 Sq. Ft. $660.000
4505 Scott St. 2233 Sq. Ft. $675,000
4214 Torranve Blvd. 1778 Sq. Ft. $710,000
4503 Narrot St. 1098 Sq. Ft. $593,000
19527 Anza Ave. 1106 Sq. Ft. $635,000
205121 Wood Ave. 1193 Sq. Ft. $670,000
4702 Cadison St. 1228 Sq. Ft. $685,000
20723 Annrita Ave. 1500 Sq. Ft. $815,000
19420 Mildred Ave. 2111 Sq. Ft. $852,000
19220 Beckworth Ave. 2638 Sq. Ft. $882,500
19802 Linda Dr. 2111 Sq. Ft. $889,900
19601 Tomlee Ave. 2284 Sq. Ft. $890,000
     

Information provided by the Multiple Listing Service 

Information deemed reliable but not guaranteed.

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




Just Sold Properties

 


21601-pv-blvd

21601 palos Verdes Blvd, W. Torrance
2971-plazadelamo-302

2971 Plaza Del Amo #302
4526-spencer

My buyers just purchased 4256 Sencer St.


Find Me Online - Garage Sale Signs


As a reminder, you can find me online at my official website, johnbriscoehomes.com. You can also follow me on Twitter at JBriscoeHomes, like my Facebook, or connect with me on Google+ to get the latest real estate tips, community events and local news information.
I have garage sale signs for your use. If you are planning on a garage sale and need signs please reserve them by calling or email. I deliver them and pick them up. Time to get rid of that "stuff" in the garage.