Charlie's Neighborhood

SHOULD MOM AND DAD CO-SIGN?

2011-08-17T07:24:00.000-07:00

Years ago, most young people purchased their first home with help from Mom and Dad or other family members. For most families in the 50's, 60's, 70's, less cash was available so they helped by co-signing. In the 80's and 90's and 2000's we experienced a surge of affluece across all generations and loans were easier to obtain. We were seeing very few co-signers. Today we've turned
the corner again. Tighter lender standards and an unstable job market have made it tougher for some people, especially those just starting out, to qualify for a home mortgage on their own. So, some home buyers are turning to family members or close friends with good credit to co-sign a home loan.

Making sense of the story

While becoming a cosigner may seem like a good solution, money manager and lenders caution against those who are asked to be the cosigner.
A cosigner, even if not living in the house, is really a coborrower, meaning he or she still is responsible for payments if the occupant is unable to meet his or her obligations. In other words, if the principal party defaults on the loan, the cosigner is on the hook.
One financial planner suggests potential cosigners take a less risky alternative, such as providing a cash gift for the down payment. Under current tax laws, a person can give as much as $13,000 to a person, free of gift taxes, or $26,000 per person, if a married couple filing jointly is giving the money.
Those considering cosigning a mortgage must conduct due diligence. First, the cosigner must understand why the family member or friend is asking for help. Potential cosigners shouldn’t be afraid to look into the requestor’s personal finances to help determine whether he or she will be able to repay the loan. Perusing credit reports also will show the track record he or she has for paying off debts. A discussion about worst-case scenarios also should take place before signing on the dotted line. Working out a written contract containing an agreement about what would happen in the event of a default, also is recommended.
Cosigners also should keep in mind that the mortgage will show up on their credit report, and could affect their own ability to borrow money or buy a second home. If the principal borrower makes a late payment, that also will show up on the cosigner’s report.

Call me and I can help you review all your options before agreeing to co-sign for financing in today's market. We should always look at the long term effects of any financing before signing on the dotted line.

Check with Team South Bay Realty for all your real estate and financing needs. We have a team of qualified professionals who are accountable and ready to help. We're your Realtors For Life!

Timeshare property resale scam

2011-07-21T08:17:00.000-07:00

As if we don't have enough problems with real estate

these days...now there's a new way consumers are getting

fleeced as they try to sell their "Time Shares" to keep up

with our not so robust economy.

Always a way for thieves to prosper, Rats, they did it again...

Check out this article from the

California Association of Realtors...

A federal court has temporarily halted a telemarketing operation that targeted consumers trying to sell their timeshare properties. The defendants allegedly charged consumers thousands of dollars, falsely claiming they had buyers lined up for sales that supposedly would be reviewed and approved by the Federal Trade Commission.

According to court papers filed by the FTC, the Orlando, Florida-based defendants, who operated out of mail drop addresses in places such as Las Vegas, Boston, and Orlando, contacted consumers trying to sell their timeshare properties and told them they had buyers for their properties. In order for the sale to proceed, the defendants charged consumers up to $3,150 – either as an “earnest money deposit” to commit them to the sale, or for sale-related expenses – which, consumers were told, would be refunded when the sale closed. Consumers were instructed to pay by cashier’s check or money order sent by overnight delivery, and to immediately sign and return a “sales agreement” or “sellers’ document” that would be mailed to them.

In the complaint, the FTC alleged that the “sales agreement” was a marketing contract for advertising the property, not a sales contract. Consumers who signed the contract and sent their payment to the defendants often were not contacted again, and consumers’ properties were never sold.

Contrary to the defendants’ alleged assertions, the FTC

does not review or approve timeshare sales.

Dont' fall prey to these scams. If you have a real estate question, call me! If I don't have the answer, I'll find it for you.

Fast Facts
Calif. median home price: May 2011: $291,760 (Source: C.A.R.)
Calif. highest median home price by region/county May 2011: San Mateo: $810,000 (Source: C.A.R.)
Calif. lowest median home price by region/county May 2011: Merced $113,000 (Source: C.A.R.)

Calif. Pending Home Sales Index: June 2011: 119, an increase of 1.9 percent compared with prior month. (Source: C.A.R.)

Calif. First-time Buyer Affordability Index: First quarter 2011: 53 percent (Source: C.A.R.)

Mortgage rates: Week ending 7/14/2011 30-yr. fixed: 4.51 fees/points: 0.7% 15-yr. fixed: 3.65 fees/points: 0.6% 1-yr. adjustable: 2.95% Fees/points: 0.5% (Source: Freddie Mac)

Have a great summer!

Charlie (and Dyna)

Team South Bay Realty

Your Realtors for Life!

They're Always Waiting For An Opportunity!

2011-06-10T07:33:00.000-07:00

An Old Mortgage Scam Aims To Hijack A Payment Or Two!

A mortgage scam in which con artists send letters telling borrowers they should begin sending their mortgage payments to a fictitious company that has begun servicing their loan, is making the rounds again. Unfortunately, by the time borrowers figure out their loan has not changed servicers, they’ve already sent one or two mortgage payments to the fictitious company.

According to those familiar with the scam, it typically works because most borrowers are unaware of the rules when it comes to the transfer of mortgage-servicing rights. Under the law, the current servicer is required to send a “goodbye” letter notifying the borrower that payments should be sent to a new company as of a certain date.

A week or two later, the law says the borrower should receive a second letter, which, by law, should include a welcome missive from the new servicer with the details of the mortgage payment – a breakdown among principal, interest, and escrow. The package also is likely to include a few payment coupons, if not a brand-new coupon book, and self-addressed printed envelopes for borrowers to make payments.

Both the goodbye and welcome letter should include the mortgage loan number. If either letter does not, or if the information included in one doesn’t match what’s in the other, borrowers should call their original servicers to inquire.

Borrowers only receiving one letter should be extra cautious. Even if everything appears to be standard procedure, borrowers are still advised to call the first company’s toll-free number just to be sure.

(Los Angeles Times Reprint)

When in doubt, call me! I'll find out for you. For all your real estate needs, count on Team South Bay Realty. We're here to help...we're your neighborhood real estate consultants FOR LIFE!

Financing Foreclosed Homes

2011-05-20T13:16:00.000-07:00

A "not so beautiful day in the neighborhood" for some homeowners today. Living next door to a boarded up home after foreclosure is not anyone's choice. Even with the price being way below market value (also not a blessing for the neighbors) the problem generally lies in being able to finance a severely distressed property. There is an answer that a lot of folks are over-looking in today's market. That is the old 203K loan. Still viable, available and a real good way to purchase that "fixer property" and have enough money to make it habitable.

Foreclosure properties, especially those with the water and power turned off, may not qualify for standard financing, but may qualify for a federally insured 203(k)loan. Buyers who are going to "owner occupy" the property and do not have enough money to purchase a foreclosure home using cash, may qualify for the federally insured 203(k) loan, which allows borrowers to roll projected rehab costs into the loan.

Since most foreclosure properties are sold "as is" and, oftentimes, heating, plumbing, and/or electric are problematic or inoperable, it's unlikely a conventional lender will lend money on the home. With a 203(k) loan, buyers generally employ an independent consultant hired by the Federal Housing Administration to review contractor cost estimates and architectural plans for things like whether the work will bring the property up to minimum standards, while not going overboard on improvements.

Buyers should be aware that not all foreclosure properties will be eligible. For instance, a partially built house that has never had a certificate of occupancy will require a construction loan of the kind that a commercial developer would use. We're also seeing more and more "unfinished remodeling job" homes today where the seller ran out of money and the building systems and/or structural definitions are lacking or insufficient. Those would require construction loans as well.

The interest rate on a 203(k) loan is approximately a quarter of a percentage point higher than on a standard FHA-insured loan, and a buyer also can expect to pay 1 or 2 points. Also, as with other FHA-backed loans, down payments may be as low as 3.5 percent, and loan limits apply. Currently, most FHA loans are capped at $729,750.

My friends at PACIFIC FIRST FINANCIAL will give you all the information necessary to investigate the 203K loan for your purchase. They also work with the CHF Platinum Program which is a Homebuyers Assistance Program featuring low interest rates and down payment along with closing cost assistance with Grants that do not have to be repaid. Call Sheila for the latest info at 310-214-9299.

Tote your toolbelt over to my office and I'll give you list of great opportunities in your neighborhood! We're always ready to work for you here at Team South Bay Realty, Your Realtors For Life!

Call 310-534-3940 or email: Charlie

EVEN THOUGH IT'S 40 DEGREES, SPRING IS HERE!

2011-03-23T10:34:00.000-07:00

And let the ritual of spring cleaning begin... but here's a tip for all year round from one of our Home Warranty Companies. Something to think about!

“Failure is simply the opportunity to

begin again more intelligently.” Henry Ford

Home Maintenance Tip

Keeping Your Water Heater Fit

Most people don't give much thought to their water heater - they just turn on the faucet and expect hot water to come out. Water heaters are relatively maintenance free, and you can keep your water heater in peak operating condition just by performing two

simple maintenance tasks every six months: test the pressure valve and then flush the tank.

If the pressure release valve is not operating properly, the tank can potentially over pressurize and explode. Flushing the tank prevents sediment build up, which can reduce your water heater's energy efficiency and clog your water lines. Consult your owner's manual or other maintenance guide for instructions on how to safely perform these maintenance tasks. Visit OLD REPUBLIC and click on the QUICK FIX TIPS link in the Homeowner's Section of their site for more information.

If you have any homeowner tips you'd like to offer, please email Charlie@TeamSouthBayRealty.com and we'll post for everyone.

Happy Spring!

p.s. You might want to invest in a hot tub for "after Spring Cleaning" to treat your aching back! I purchased a FreeFlow Spa about 5 years ago and I love it. Lots of good deals right now. Shop around and get one that is "self-contained" like mine.

Call if you want some tips on on tubs.

Charlie :)
and Dyna too, Of course (with her friend Moose on a Doggie Playdate)

Short Sales - What's Happening!?

2011-03-11T08:01:00.000-08:00

That's the daily question from my buyers today...

What's happening with my offer!? Even though I've been through all the Short Sale Training and I'm even HAFA Certified, I can't breach the chasm for communication with the banks holding the sellers' notes. If we're lucky, the listing agent is also well educated and certified. In that case, we may make some progress. Sometimes even with everything being done correctly and by the bank's requirements we still find ourselves at a standstill. A lot of buyers today give up and walk away. We're reaching a boiling point in the industry. California Association of Realtors has been trying to help these lenders approach some semblance of organization so we have everyone conducting this business the same way. There is a lot of resistance from the larger banks. They want to use their own methods, paperwork and programs. So, in the meantime, as we try to get "all our ducks in a row," the prime requirement for home purchases in today's market is PATIENCE. It used to be 1) Good FICO scores 2) Verifiable Income 3) Down Payment ...today we have to add one more to the buyers' list of requirements ...PATIENCE. Sorry everyone, I hope this market will turn the corner soon on this issue. In the meantime, remember this is a "Hurry Up and Wait" business. Bring a book!

LA Times Article...

Banks are dragging their feet when considering so-called short sales, an increasingly prevalent type of real estate transaction in which lenders allow homes to be sold for less than what is owed on them, according to a survey of California real estate agents.

Nearly two-thirds of the 2,150 respondents to the California Assn. of Realtors' survey of member agents said banks took longer than 60 days to respond to short sale offers and that fewer than three out of every five offers ultimately resulted in a sale.

The response times are much longer than those specified in government guidelines for banks who agreed to participate in programs that help troubled borrowers when they accepted a share of the $700-billion Wall Street rescue.

"The survey results show that the short sale system is clearly flawed," CAR president Beth L. Peerce said. "Increasing the number of successful short sale transactions is one important way we can help California families and move our economy closer to recovery."

Although the survey only covered agents in California, National Assn. of Realtors spokesman Walter Molony said similar complaints had come from across the country, especially from states with hard-hit housing markets such as Nevada, Florida and Arizona.

"Banks just have not been equipped or willing to make quick decisions on this," Molony said. "It's unfair to all parties concerned."

Short sales have played an increasingly large role in California's real estate market, with declines in property values leaving many borrowers with crushing payments on mortgages that are greater than their homes' worth.

The transactions allow troubled borrowers to dodge the hit to their credit scores that would come from a foreclosure, while banks are able to keep distressed properties off their books without going through the costly foreclosure process.

The estimated percentage of resales in the state that were short sales went from about 10% in 2008 to 18% in 2010, according to tracking firm DataQuick Information Systems.

But foreclosures are still much more common, accounting for nearly 38% of all resales in 2010, DataQuick said.

Richard Green, who directs the USC Lusk Center for Real Estate, said the market would benefit from avoiding foreclosures, which can lead to homes languishing on the market, by encouraging more short sales.

"Forcing banks to clear the market through short sales would almost certainly get us through this faster than we're getting through it," he said.

Green said he suspected banks were slow to approve short sales because the transactions force them to immediately report the difference between the sale price and what they're owed as a loss, rather than carrying the loan balance as a purported asset. He said some banks may also fear inadvertently letting property go for less than it's worth.

CAR had previously written to federal government agencies that oversee short sales to ask them to mandate faster responses by banks and to take other steps to foster more of the transactions.

The association said in the December letter to the Treasury and the Federal Housing Finance Agency, which oversees government-supported lenders Fannie Mae and Freddie Mac, that banks were not living up to the terms of the Home Affordable Foreclosure Alternatives' short sale program.

Since most lenders have repaid their bailout funds to the government, participation in HAFA is now primarily voluntary, but CAR said the banks should still be bound by the agreement.

The association noted that banks were taking much longer to approve short sales than the time allotted by HAFA: Ten days in cases where the lender has already decided on a selling price; 30 days if the selling price is being proposed by a listing agent.

CAR asked for the government agencies to force banks to complete all short sales following HAFA guidelines and to comply with the program's time frames. It also recommended increasing monetary incentives to banks for completing short sales.

Treasury spokeswoman Andrea Risotto said that her agency was still working on its response to CAR's letter, but that some of the requests — such as punishing banks for not meeting HAFA's time frames — would require legislative action.

A message left with the Federal Housing Finance Agency was not returned.

business@latimes.com

So hang in there everyone. It's a great time to buy, lowest interest rates in decades, inventory priced at affordable levels, good loan programs for qualified buyers ...

Patient, qualified buyers that is...

Charlie :) (and Dyna)

RED FLAGS

2011-02-22T13:34:00.000-08:00

Today, buyers are looking for a Great Deal. Sometimes we forget that a great deal is about a lot more than just the price. So many of our distressed properties today (those in foreclosure or involving short sales) have not been maintained for quite a while. Think about the homeowner who can't afford to pay the mortgage payment. Do you think this homeowner is being diligent about the maintenance? So, here are just a few RED FLAGS to look for when choosing a "smoking buy" in today's market ...

RED FLAGS

Steep slopes (especially of concern in areas of periodic heavy rains and in areas sloped to create subdivisions, which have resulted in many landslides.)

Floors that appear unlevel

Cracks in the foundation, walls, or ceilings

Doors and door casings which are not square to each other

Water stains on walls or ceilings

Smell of dampness in structure

Apparent additions or structure modifications

(were additions or modifications done under a valid building permit?)

Presence of an oil heating system or evidence of a prior oil heating system

Soft floors in an area such as a bathroom or kitchen

Evidence of poor caulking in tub/shower surround areas

Use of manufactured siding

Gas or oil furnaces that show yellow flames

Evidence of water stains on crawl space piers, footings, or walls

Evidence of crumbling concrete foundation walls (often, older homes in California were built with sand that contained a great deal of organic material. This material over time breaks down and simply leaves the foundation concrete in a deteriorated state)

Evidence of standing water on a property

When I am showing a home to one of my buyers, while they are looking at the floorplan and the backyard and the upgraded kitchen, I'm looking for signs on my "Red Flag" list. Better to find these problems before we close the escrow than having to deal with the headache and expense of curing or repairing after close. I have several very good Home Inspection Companies that I highly recommend. If you are thinking about buying a home in this market with over 50% distressed home inventory, call me first. Even if you are using another Realtor (which I certainly hope you are not) you will still need a very good home inspector. It doesn't hurt to have more than one set of eyes examining the home before you pay for the inspection either! (That would be mine and yours first of all.) It pays to know what you're buying or know exactly what you are paying before you commit. Call Your Real Estate Consultant For Life!

You'll be glad you did...

Charlie & Dyna

When will housing come back in California?

2011-01-07T09:08:00.000-08:00

Happy New Year!

Foreclosures in the state are still high. Sales of new homes are at historic lows. And millions of homeowners are underwater on their mortgages.

So what's the outlook for 2011 and beyond?

Although the steep decline of home prices in California ended in spring 2009, the weakness in the housing market after the expiration of federal tax credits for home buyers last year has led to some speculation as to whether the recovery is sustainable. Five experts, including Leslie Appleton-Young, the chief economist for the CALIFORNIA ASSOCIATION OF REALTORS®, were asked to provide their view on the state of real estate and what they think is needed to get the housing market moving again.

• In terms of home prices, the experts differed slightly with the majority predicting that home prices will remain flat throughout 2011. Ms. Appleton-Young predicts home prices will rise 2 percent this year, while a foreclosure expert predicts housing prices to decline 5 percent in 2011. According to Ms. Appleton-Young, there is little chance of home prices returning to their previous peak levels anytime soon. “We are in a slow-moving recovery with prices stabilized at the moderate and low end,” she said. “We are still seeing price attrition and price softening at the upper ends of the market.” 2011 will be lackluster, she said, but that does not mean California is not improving. "We are almost two years into a price recovery. The problem is not to look at 2007 as the normal market that you are moving back up to, because it wasn't a normal market. We are back in an underwriting environment that actually makes sense." "You are seeing prices recovering throughout the state," she added. "It is just going to take time."

• California’s recovery will hinge on location, according to Richard Green, director of the USC Lusk Center for Real Estate. Areas between El Centro and Sacramento likely will not see a return to peak prices for a long time. However, places like La Jolla, Laguna, Huntington Beach, Atherton, Palo Alto, the city of San Francisco, and Marin County could experience a return to their peak prices within the next five years, according to Mr. Green.

• Foreclosure expert Bruce Norris of the Norris Group believes the market is being artificially boosted by government programs and is set to fall further this year. Mr. Norris believes the demand for housing is most-needed for a sustainable recovery.

• California’s coastal markets will make a return once the job market improves, according to Emile Haddad, chief executive at FivePoint Communities Inc. In turn, that will lift consumer confidence. However, California’s inland areas are more likely to lag behind, and builders will have to reconsider the kind of product they offer in certain places.

• Former UCLA senior economist Christopher Thornberg, predicts home prices will remain flat in 2011. Thornberg was one of the first to predict the housing crash, pointing to prices that were way out of line with what people earned. In that vein, he views the plunge in home values as its own recovery of sorts "because that is when prices went from stupid-high levels to levels that made sense again," Thornberg said. "Now we are in a post-recovery recovery, if you will."

Here in the South Bay we are still treading water! Looking forward to a stabilizing market in 2011 through 2012 and price increases equal to inflation only. Those downsizing or moving up this year will find plenty of good quality housing at great prices. Don't forget we still have the lowest interest rates in over 30 years available today at fixed rates!

DON'T FORGET ABOUT THE 203K LOANS!

2010-10-23T07:48:00.000-07:00

Tis the time of vast foreclosure opportunities. Since most of these properties needs some fixing, don't forget about this little-known loan program for fixer-uppers.

Home buyers thinking of purchasing a distressed property in need of repair, but who are concerned that the cost of the repairs could drain their savings account may qualify for the Federal Housing Administration’s (FHA) 203(k) rehabilitation program.

KEEP THIS IN MIND

• The FHA’s 203(k) rehabilitation program provides loans for covering renovation costs as well as the purchase price of the primary residence. Investors are not eligible for this program. Additionally, similar to traditional FHA loan programs, the rehab program allows for a down payment of as little as 3.5 percent.

• A common misperception about the program is that the house needs to be unlivable. Realistically, the property just needs to be outdated, according to a lender familiar with the program. The property “just has to appraise below market value and then at market value with the repairs.”

• Improvements deemed “luxury” are ineligible; however, the program has a wide range of definitions for “repairs” and “modernization.” Covered repairs include items such as a new roof or heating system, as well as decorative changes, like replacing vinyl with ceramic tile on the kitchen floor or painting the interior.

• In addition to putting down at least 3.5 percent of the current value of the property, buyers also must use a HUD-approved lender, appraiser, and a contractor approved by the lender for the repairs. One list of approved businesses can be found at 203kcontractors.com.

• Borrowers considering the FHA rehab loan program should be aware that loan rates typically run around a percentage point higher than conventional loans, and come in 15- to 30-year terms, either fixed or adjustable. Additional paperwork for inspection, appraisal, title updating, and the like can increase closing costs by $1,000 or more higher than the average.

• For additional information about the FHA 203(k) rehabilitation program, please visit HUD 203K INFO

So if you're looking at a good buying opportunity but worried about how to find the money to fix it up, this is a great program for you. Call me with any questions. I have access to 203K approved contractors and lenders for this program. It's worth your time to investigate the possibilities.

Call Charlie, your friend in the Neighborhood with all your real estate questions. If we don't have the answer, we'll find it for you!

OWE MORE ON YOUR HOME THAN IT'S WORTH? GOOD NEWS!

2010-10-05T09:11:00.000-07:00

If you owe more on your home than it's worth, I have some good news for you! No Short Sale Deficiencies: Starting January 1, 2011, a seller's first trust deed lender cannot obtain a deficiency judgment against the seller after a short sale. Providing written consent to a short sale shall obligate the first trust deed lender to accept the sales proceeds as full payment and discharge of the remaining amount owed on the loan. This law applies to first trust deeds secured by one-to-four residential units, but does not limit the lender from seeking damages for fraud or waste by the borrower. Senate Bill 931. Governor Schwarzenegger vetoed Senate Bill 1178, our sponsored bill, which would have extended California's anti-deficiency protection to refinance loans.

If you owe more than your home home is worth and don't know what to do, call me, I can help! You can also check out my Short Sale Website for answers to some common questions in today's market.

As we near the Holiday season for 2010, please start thinking about ways to help some of our South Bay families in need this year. Although we are blessed to have fewer foreclosures and homeless families than most areas in the county, we still have friends and neighbors in need. If you have a request for your neighbor or friend, let me know. We are starting to collect Holiday Gifts for kids and food bank supplies for families. If you can contribute, please call and I will pick up. If you or a friend or neighbor needs help please let us know. We are here to support our community in any way we can!

TIME TO CANCEL TIME MAGAZINE

2010-08-30T11:09:00.000-07:00

I’d always considered myself a centrist/conservative. Subscribing to Time Magazine is not something a “dyed in the wool” conservative would do. I appreciate hearing all points of view. That said, the August 30th issue with the cover question “Is America Islamophobic?” really got my dander up (that’s a Midwest phrase.) I spent 9-11-01 in Hawaii with 2000 people at a seminar, a good portion from New York. My roommate lived less than 1 mile from Ground Zero. Dozens of my attendee friends lost loved ones. We were stuck on the island. No flights in or out that week. We grieved together, cursed together and learned about each other on a much deeper level than could ever have been anticipated. The Time article particularly angered me. To cover that gripe I need the space of a book, not a blog.

Now I’m reading the September 6th issue, the front cover shouting “Rethinking Homeownership.” As a Realtor and Real Estate Broker I tried to review their information with an open mind. After all, I need to know what my clients are being told. That recalls another phase “Keep your friends close and your enemies closer.” When I finished their ludicrous article I didn’t know whether to laugh or cry. Their concept conclusion - Americans should trend toward dumping their homes and consider inner city living in cities where people can walk to work. The author envisioned urban areas becoming hotbeds of rental housing. Obviously, this writer is probably not a homeowner, certainly doesn’t live in Los Angeles and most likely will never earn a living as a writer except maybe for comedy.

Since most of my clients live near the beach or on the hill (Palos Verdes Peninsula) I’m trying to imagine leaving those homes behind and moving downtown. They could rent a flat (some buildings are currently converting to lofts.) They could walk to work (assuming they can find a job downtown.) They could also take the Red line to the Blue line to the bus station to the beach …problem with dragging those surf boards though. Perhaps this author lives in New York City. If that’s the case, I pray she lives in the same neighborhood as the intended mosque. Meantime, if you would like to downsize to a rental loft in the business district, please call me! I have many people trying to buy homes in the South Bay area. Somehow we have this strange conception that God is not making anymore Beach Front property. I suppose that will hold until the next “big” one drops us into Las Vegas, but I digress.

If you are a first time buyer NOW is the time to buy not rent. Interest rates are in the 4’s for heaven’s sake. If you have a paycheck and even if you have to commute to a job in East Butt Scratch, I suggest this is your window of opportunity. And if you’re short on funds, you can start saving money right now by cancelling your Time Magazine subscription!

Tired of the Wolves?

2010-08-22T13:28:00.000-07:00

Every day we hear a different story....the real estate market is recovering....oops, foreclosures are up....OK, notices of default are down...Oh boy, stock market is up...Geez, Dow just crashed...It's gotten to be such a travesty that "television news" is no longer watched for information, just for entertainment. We know a lot more about Brad and Angelina than what the new health care bill actually contains. News in the information age has become much more confusing and self-serving than helpful.

The information available for distressed homeowners is abundant. If you're currently unemployed, you'll have time to wade through it. If you aren't, the task is daunting. I've been in the real estate business for over 30 years now and I've seen depressed market conditions before. I don't think I've ever seen such depressed homeowners though. After receiving so many "trouble" calls this year, I decided to create a team to help those people who are overwhelmed with "wolves at their doors" and underwhelmed with the accuracy and availability of helpful infomation. Team South Bay Realty has had it's own TeamSouthBayShortSales website for quite a while but we needed more. We needed more "hands on deck" and a way to get the information out to those in need but too embarassed to call for help. We decided to partner with a national site to help our homeowners "keep the wolves from their doors" and obtain information more easily and accurately either on their own or with our help. Thus was born our additional site: Program 3648. Now with the expanded reach of a national information site and our "hands on" regional assistance, we can help our neighbors and friends solve problems and save their homes and sanity.

Visit our sites and/or call or email Charlie for a personal consultation if you need one. Invite your friends, neighbors, co-workers and relatives to do the same. We expect the foreclosure market to get much worse between now and 2013. We want you to know that if and when you need us, we're here for you. We cover the South Bay for all your real estate needs including residential and income properties.

Team South Bay provides many services to our clients including our network of small business partners throughout the Southland listed in Charlie's Business Referral Directory. We invite you to partner with us too and let us know who you recommend for premium service. If you'd like to recommend someone, please call or email their information.

Please remember, we are NEVER too busy for your referrals. We take pride in our personal service and you can rest assured the people you send our way will be grateful for your referral.

Meantime, chin up! There is always a light

at the end of every tunnel.

Let's keep the lamps lit together.

Charlie :)

SUMMERTIME DREAMS FOR LOWER POINT VICENTE, RANCHO PALOS VERDES

2010-07-24T08:14:00.000-07:00

The local Realtor Boards were invited to a luncheon yesterday provided by the Annenberg Foundation at the new Terranea Resort in Rancho Palos Verdes. The presentation was on their new proposed DISCOVERY PARK at Lower Point Vicente. Discovery Park would annex the Point Vicente Interpretive Center combining with and adding a combination of exhibits and programs on topics relevant to the region and community: a Tonga village, an archaeological dig, flora and fauna, geology, weather, local pioneers including whalers and ranchers and much more. It will be a Gift to the Community provided by the Annenberg Foundation under the leadership of Wallis Anennberg. Ongoing operations and maintenance would be underwritten by the Foundation as well.

The presentation was lengthy and informative. The proposed projects and designs were awesome and beautifully articulated. Since there is too much information for my simple blog, click on the link to learn about the Lower Point Vicente Discovery Park Project and the Annenberg foundation.

You may already be familiar with some of their other Los Angeles programs, such as the Annenberg Space for Photography and Annenberg Community Beach House. You can also call with questions or concerns regarding the project at 310-406-3710 or email jjaakola@annenbergfoundation.org.

p.s. my dogs photos appear here because they are definitely in favor of the project. We walk the trails all the time and know this will be a wonderful addition (especially the Pet Adoption Suites) for the community and our families.

p.s.s. The Lunch was FABULOUS! I highly recommend the new Terranea Resort as well and their public access grounds are animal friendly!

A Good Time To Buy?

2010-04-05T17:58:00.000-07:00

A good time to buy?

Many housing economists have said that for borrowers with stable incomes, good credit history, and FICO scores of at least 620, now is an opportune time to purchase a home. Although inventory rates are below the long-run average, there still are plenty of options available for buyers of middle to high-end homes.

Consumers trying to time the market and purchase their home when prices are likely to rise again are advised to take a different approach. According to one real estate consultant, while home prices have stopped declining in most areas, and even have risen in some markets, mortgage rates may rise, offsetting any potential savings.

Early last year, the Federal Reserve began purchasing mortgage-backed securities, which helped maintain low interest rates for consumers. However, the Fed’s purchase program ended in March, and some analysts forecast interest rates to increase throughout the rest of the year. One financial publishing company predicts that rates likely will rise to 5.5 percent by mid-2010 and close the year at 5.75 percent to 6 percent. The CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) projects rates on 30-year fixed-rate mortgages to average 5.6 percent this year.

Closely-watched indices, including the Standard & Poor’s/Case Shiller Index, indicate that the high end of the market didn’t experience the same dramatic price appreciation as the low end. Home prices in this segment have not declined as steeply as homes in the mid- to low-end of the market. Additionally, many discretionary sellers in the high end—those who do not have to sell their homes—are opting to wait until home prices rise before listing their homes for sale.

The high end of the market also is facing challenges with buyers qualifying for financing. During the height of the market, many high-end home purchases were fueled by exotic mortgage products. Now that those mortgages are no longer readily available, many lenders are requiring borrowers to provide proof of income, such as W-2s and recent paystubs, as well as demonstrate their ability to meet the monthly mortgage obligation.

This year is still providing many windows of opportunity. If you've been waiting to move into a larger home or waiting to downsize for retirement, this is a good time to move forward. As the market stabilizes, interest rates will rise. Use this time to meet your goals and make the most of the current market. Why wait 3-5 years to achieve the same result under different circumstances.

Call me with questions about your home value or for a list of homes to preview in your area. You know I'm never too busy to be of service in my community and never too busy for your referrals!

The home pictured above is a wonderful 3 bedroom home in the Lomita Pines area. Check out this home's personal website:
http://www.2077guyson.com/ for all the details or call me and I'll send a copy of the listing information directly to you.

Enjoy the beautiful Spring weather!

Governor Signs Home Tax Credit Bill!

2010-03-26T11:55:00.000-07:00

Governor Schwarzenegger today signed AB 183 providing $200 million for home buyer tax credits. The bill allocates $100 million for qualified first-time home buyers who purchase existing homes and $100 million for purchasers of new, or previously unoccupied, homes.

Eligible taxpayers who close escrow on qualified principal residences between May 1, 2010 and December, 31, 2010, or who close escrow on a qualified principal residence on and after December 31, 2010 and before August 1, 2011, pursuant to an enforceable contract executed on or before December 31, 2010, will be able to take the allowed tax credit.

This credit is equal to the lesser of 5 percent of the purchase price or $10,000, taken in equal installments over three consecutive years. Under the bill, purchasers will be required to live in the home as their principal residence for at least two years or forfeit the credit (i.e. repay it to the state). Buyers also must be at least 18 years old and be unrelated to the seller. First-time buyers are defined as those who have not owned a home in the past three years.

Governor “I have been up and down the state pushing this important housing bill that will get people off the fence and into homes while creating jobs and stimulating our economy – and today I am proud to take action and put it into law,” said Governor Schwarzenegger. “Creating jobs is my number one priority and I am glad that I have been able to sign two job-creating bills in two days. I applaud the legislature for their great work and encourage them to keep it up and pass the remaining job-creating elements of my California Jobs Initiative.”

If you are a first time home buyer - call me! Let's put you in escrow before all our First Time Home Buyer initiatives run out. If you're a move-up Buyer, the clock is ticking on the $6500 federal tax credit for you this year as well.

2010 FNMA LOAN LIMITS BY COUNTY IN CALIFORNIA

2010-02-17T11:45:00.000-08:00

Wake up to some good news in 2010! It's a piece of cake to trade up in this market. Prices are low - interest rates are low and conforming loan limits are the highest they have ever been! There is a great window of opportunity that is wide open right now. Don't stay behind the curve and miss your chance to lock in a great deal on a home at historically low interest rates fixed for 30 years. Also, don't forget the $8000 first time buyer credit and $6500 move-up tax credit for current homeowners. They both require purchases by April 30th and closed escrows by June 30th 2010.

If you're stuggling with your mortgage and want to sell your home - this is the right time to attract buyers too! Check out the conforming loan list by county below. Feel free to call with any questions and if you're thinking about moving out of your current area and need a great broker referral, let me know and I'll research the appropriate professional for you in your chosen city or county.

1- Unit 2-Units 3-Units 4-Units

Los Angeles-Long Beach-Santa Ana
Component Counties: Los Angeles, Orange

$729,750 $934,200 $1,129,250 $1,403,400

Oxnard-Thousand Oaks-Ventura

Component County: Ventura

$729,750 $934,200 $1,129,250 $1,403,400

Riverside-San Bernardino-Ontario

Component Counties: Riverside, San Bernardino
$500,000 $640,100 $773,700 $961,550

San Diego-Carlsbad-San Marcos

Component County: San Diego
$697,500 $892,950 $1,079,350 $1,341,350

Santa Barbara-Santa Maria-Goleta

Component County: Santa Barbara
$729,750 $934,200 $1,129,250 $1,403,400

I have the entire list for California by county. If you don't see yours here, call or email and I'll send you the list for your area or any area of interest to you.

If you think your property's market value may be below your current loan amount, call me and I can show you how to work with that issue as well. I'm also a Certified Distressed Property Expert.

Once we isolate the problem, we can always find a solution!

Call Charlie @ Team South Bay Realty 310-534-3940 for all your real estate needs!

New $6500 Tax Credit for Repeat Home Buyers

2010-01-05T18:45:00.000-08:00

Happy New Year! I just posted the South Bay and Palos Verdes Peninsula sales charts for 2009 on my Facebook. The stats are from November 2008 through November 2009 and the trends are quite obvious. We are heading back into market momentum. With interest rates still at an all time low and destined to begin a steep increase this year, this is really the right time for first time buyers and move-up buyers to secure a great home at a great price with long term 30 year fixed rate financing. It just won't get any better than this! Here are some "Good News" Facts:

Q: Who can claim the $6,500 tax credit?

Qualified move-up or repeat home buyers purchasing any kind of home intended as his/her primary residence are eligible to claim this credit. The tax credit does NOT apply to second homes, vacation homes, or investment property.

Q: What is the definition of a move-up or repeat home buyer?

The law defines a tax credit qualified move-up home buyer (long-time resident) as a home owner who has owned and resided in a home for at least five consecutive years of the eight years prior to the purchase date. For married taxpayers, the law tests the homeownership history of both the home buyer and his/her spouse. Repeat home buyers do not have to purchase a home that is more expensive than their previous home to qualify for the tax credit.

Q: When does the credit take effect, and how long will it last?

Transition buyers are eligible for all contracted purchases dated Nov. 7th, 2009 through April 30, 2010, with closing occurring on or before June 30, 2010.

Q: How is the amount of the tax credit determined?

The tax credit is equal to 10 % of the home’s purchase price up to a maximum of $6,500. Purchases of homes priced above $800,000 are not eligible for the tax credit.

Q: Are there any income limits for claiming the tax credit?

Yes. The income limit for single taxpayers is $125,000; & $225,000 for married taxpayers filing a joint return. The tax credit amount is reduced for buyers with a modified adjusted gross income (MAGI) above those limits. The phaseout range for the tax credit program is equal to $20,000. That is, the tax credit amount is reduced to zero for taxpayers with MAGI of more than $145,000 (single) or $245,000 (married) and is reduced proportionally for taxpayers with MAGIs between these amounts. (NOTE: I suggest you consult your CPA or accountant regarding your MAGI questions. There are several complications that are best defined by a professional.)

Q: If my modified adjusted gross income (MAGI) is above the limit, do I qualify for any tax credit?

Possibly. It depends on your income. Partial credits of less than $6,500 are available for some taxpayers whose MAGI exceeds the phaseout limits.

Q: How is this home buyer tax credit different from the tax credit that Congress enacted in July of 2008? How is this different than the rules established in early 2009?

The previous tax credits applied only to first-time home buyers and were for different amounts of money.

Q: How do I claim the tax credit? Do I need to complete a form or application? Are there documentation requirements?

You claim the tax credit on your federal income tax return. Specifically, home buyers should complete IRS Form 5405 to determine their tax credit amount, and then claim this amount on line 67 of the 1040 income tax form for 2009 returns.
No other applications are required, and no pre-approval is necessary. However, you will want to be sure that you qualify for the credit under the income limits and repeat home buyer tests. Note that you cannot claim the credit on IRS Form 5405 for an intended purchase for some future date; it must be a completed purchase. Home buyers must attach a copy of their HUD-1 settlement form (closing statement) to IRS Form 5405 as proof of the completed home purchase.

Q: What types of homes will qualify for the tax credit?

Any home that will be used as a principal residence will qualify for the credit, provided the home is purchased for a price less than or equal to $800,000. This includes single-family detached homes, attached homes like townhouses and condominiums, manufactured homes (also known as mobile homes) and houseboats. The definition of principal residence is identical to the one used to determine whether you may qualify for the $250,000 / $500,000 capital gain tax exclusion for principal residences per the IRS.

It is important to note that you cannot purchase a home from — among other family members — your ancestors (parents, grandparents, etc.), your lineal descendants (children, grandchildren, etc.) or your spouse or your spouse’s family members. Please consult with your tax advisor for more information. Also see IRS Form 5405.

Q: I've heard that I could be required to repay the credit if I do not occupy the new home for at least 36 months from the purchase date. Is this true?

Yes. If, within 36 months of the date of purchase, the property is no longer used as your principal residence, you are required to repay the credit. Repayment of the full amount of the credit is due at that time the income tax return for the year the home ceased to be your principal residence is due. The full amount of the credit is reflected as additional tax on that year's tax return. Form 5405 and its instructions will be revised for tax year 2009 to include information about repayment of the credit.

Q: Instead of buying a new home from a home builder, I hired a contractor to construct a home on a lot that I already own. Do I still qualify for the tax credit?

Yes. However, for the purposes of the home buyer tax credit, a principal residence that is constructed by the home owner is treated by the tax code as having been purchased on the date the owner first occupies the house, not when the lot was purchased or construction began on the property. In this situation, the date of first occupancy must be after November 6, 2009 and on or before April 30, 2010 (or by June 30, 2010, provided a binding sales contract was in force by April 30, 2010).

Q: I am not a U.S. citizen. Can I claim the tax credit?

Perhaps. Anyone who is not a nonresident alien (as defined by the IRS) and who has owned and resided in a principal residence in the United States for at least five consecutive years of the eight years prior to the purchase date can claim the tax credit if they meet the income limits. For married taxpayers, the law tests the homeownership history of both the home buyer and his/her spouse. The IRS provides a definition of nonresident alien in IRS Publication 519.

Q: Is a tax credit the same as a tax deduction?

No. A tax credit is a dollar-for-dollar reduction in what the taxpayer owes. That means that a taxpayer who owes $6,500 in income taxes and who receives an $6,500 tax credit would owe nothing to the IRS.

Q: Is there a way for a home buyer to access the money allocable to the credit sooner than waiting to file their 2009 or 2010 tax return?

Yes. Prospective home buyers who believe they qualify for the tax credit are permitted to reduce their income tax withholding. Reducing tax withholding (up to the amount of the credit) will enable the buyer to accumulate cash by raising his/her take home pay. This money can then be applied to the downpayment.

Q: HUD allows monetization of the tax credit. What does that mean?

It means that (in theory) HUD will allow buyers using FHA-insured mortgages to apply their anticipated tax credit toward their home purchase immediately rather than waiting until they file their 2009 or 2010 income taxes to receive a refund, provided the FHA lender offers the option of purchasing the tax credit in advance.
Q: For a home purchase in 2009 or 2010, can I choose whether to treat the purchase as occurring in the prior or present year, depending on in which year my credit amount is the largest?

Yes. If the applicable income phaseout would reduce your home buyer tax credit amount in the present year and a larger credit would be available using the prior year MAGI amounts, then you can choose the year that yields the largest credit amount. (Again, your CPA or accountant should be consulted on this.)

Q: Where should I get the most reliable and up-to-date information from regarding the $6500 repeat home buyer credit?

From your tax advisor or the IRS directly. While the credit is specific to the purchase of qualified real property, it is still a tax issue, and not a real estate or mortgage matter. As such, it falls under the taxation and revenue codes of the IRS. Your tax professional or an advisor at the Internal Revenue Service is best equipped to provide you current information about this new credit.

Looking forward to working with you this year. Please feel free to call with any questions. I don't have all the answers but I generally know someone who does. And, I am NEVER too busy for any of your referrals!

LOVE THY NEIGHBOR ...

2009-12-15T12:52:00.000-08:00

Being a Christian, I love the Christmas season. It brings hope and laughter and love, even in economic recessions. It reminds us to be kind, faithful, patient. After all, Jesus is the reason for the season!

We think about our neighbors more during the Christmas season. We reflect on their choice of decorations (indoor and outdoor.) We listen more intently to their declarations (in church and out .) We have expectations of their kindness and consideration. We are reminded of bible verses and hymns. Unfortunately, we are also sometimes reminded of the old addage, "keep your friends close and your enemies closer." This, my friends, is a "high profile" season. Whether you're a shopkeeper, neighbor, relative, teacher, fellow student, employee, sports fan, politico or zealot of one sort or another, this season shines a light on you in so many, many ways.

I recently wrote about my experience with a local business owner in my Facebook...how I felt wronged by his less than stellar business policy and questionable ethics...how I felt cheated by his treatment, not just financially but emotionally as well. I pledged a vendetta of negative marketing as my revenge. I had all the tools at my disposal. I devised a plan to bring him to justice. Then I realized how much energy it takes to wage such a war or to even envision it. I began to rethink my plan. How much better might it be to try to help people avoid being ripped off by simply educating them about the problem. How short lived my vendetta would have been versus how long lasting and far reaching my informational tips could be. I reflected on various ways to help others avoid being ripped off both during the Holiday Season and throughout the year instead. I relected on a quote by Isaac Bashevis Singer...

Life is God's Novel, Let him write it!

In that decision was my clarity. How we move forward in life is a statement of who we are and how we love. In checking our own perspective, we can influence others as well. As the cat in the photo teaches us, there's a lot more going on than we'll ever really understand individually. With the help of our friends and neighbors and relatives and yes, even those who disparage us or rip us off, comes life's lessons to be learned and shared for their worth and value - as opposed to their pain and suffering. In this season, as in all seasons, We Are Not Alone.

God Bless Us Everyone and

Merry Christmas!!

Oh, and by the way, if you want my recommendations for businesses and service people in the South Bay, please visit my Online Business Directory

and I'm NEVER too busy for your referrals!

Charlie and Team South Bay

Wish you a safe and joyous Holiday

and a Prosperous and Engaging 2010!

First Time Homebuyer Tax Credit Extended Into 2010!

2009-11-09T17:04:00.000-08:00

Plus...A New Tax Credit for Certain Existing Home Owners!

It's official. President Obama has signed a bill that extends the tax credit for first-time homebuyers (FTHBs) into the first half of 2010. This program had been scheduled to expire on November 30, 2009.

In addition to extending the tax credit of up to $8,000 through June 30, 2010, the extension measure also opens up opportunities for others who are not buying a home for the first time.

So Who Gets What?

The program that has existed for FTHBs remains intact with the one exception that more people are now eligible based on an increase in the amount of income someone may now earn.

Additionally, the program now gives those who already own a residence some additional reasons to move to a new home. This incentive comes in the form of a tax credit of up to $6,500 for qualified purchasers who have owned and occupied a primary residence for a period of five consecutive years during the last eight years.

Deadlines

In order to qualify for the credit, all contracts need to be in effect no later than April 30, 2010 and close no later than June 30, 2010.

Higher Income Caps in Effect

The amount of income someone can earn and qualify for the full amount of the credit has also been increased. Single tax filers who earn up to $125,000 are eligible for the total credit amount. Those who earn more than this cap can receive a partial credit. However, single filers who earn $145,000 and above are ineligible.

Joint filers who earn up to $225,000 are eligible for the total credit amount. Those who earn more than this cap can receive a partial credit. However, joint filers who earn $245,000 and above are ineligible.

Maximum Purchase Price

Qualifying buyers may purchase a property with a maximum sales price of $800,000.

Frequently Asked Questions...

What is a tax credit?

A tax credit is a direct reduction in tax liability owed by an individual to the Internal Revenue Service (IRS). In the event no taxes are owed, the IRS will issue a check for the amount of the tax credit an individual is owed. Unlike the tax credit that existed in 2008, this credit does not require repayment unless the home, at any time in the first 36 months of ownership, is no longer an individual's primary residence.

What is the tax credit for first-time homebuyers (FTHBs)?

An eligible homebuyer may request from the IRS a tax credit of up to $8,000 or 10% of the purchase price for a home. If the amount of the home purchased is $75,000, the maximum amount the credit can be is $7,500. If the amount of the home is $100,000, the amount of the credit may not exceed $8,000.

Who is eligible for the FTHB tax credit?

Anyone who has not owned a primary residence in the previous 36 months, prior to closing and the transfer of title, is eligible. This applies both to single taxpayers and married couples. In the case where there is a married couple, if either spouse has owned a primary residence in the last 36 months, neither would qualify. In the case where an individual has owned property that has not been a primary residence, such as a second home or investment property, that individual would be eligible.

How do I claim the credit?

For those taking advantage of the tax credit in 2009, you may choose to either apply for the credit with your 2009 tax return or you may apply for the credit sooner by filing an amended 2008 tax return with Form 5405 http://www.irs.gov/pub/irs-pdf/f5405.pdf

Can I claim the tax credit in advance of purchasing a property?

No. The IRS has recently begun prosecuting people who have claimed credits where a purchase had not taken place.

Can a taxpayer claim a credit if the property is purchased from a seller with seller financing and the seller retains title to the property?

Yes. In situations where the buyer purchases the property, even though the seller retains legal title, the taxpayer may file for the credit. Examples of this would include a land contract, contract for deed, etc. According to the IRS, factors that would demonstrate the ownership of the property would include: 1. the right of possession, 2. the right to obtain legal title upon full payment of the purchase price, 3. the right to construct improvements, 4. the obligation to pay property taxes, 5. the risk of loss, 6. the responsibility to insure the property and 7. the duty to maintain the property.

Are there other restrictions to taking the credit?

Yes. According to the IRS, if any of the following describe your situation, a credit would not be due.

You buy your home from a close relative. This includes your spouse, parent, grandparent, child or grandchild.

You do not use the home as your principal residence.

You sell your home before the end of the year.

You are a nonresident alien.

You owned a principal residence at any time during the three years prior to the date of purchase of your new home. For example, if you bought a home on July 1, 2009, you cannot take the credit for that home if you owned, or had an ownership interest in, another principal residence at any time from July 2, 2006, through July 1, 2009.

Can you buy a home from a step-relative and be eligible for the credit?

Yes. Provided the person you are buying a home from is not a direct blood relative, the purchase would be allowed.

Can parent(s) who will not live in the property cosign for a mortgage for their child and the child that is a qualifying FTHB still be eligible for the credit?

Yes.

Can a separated spouse who has not owned a home for four years qualify for the FTHB tax credit if the spouse has owned a property anytime in the last three years?

No. However, the spouse may be eligible for the repeat buyer credit. The best path to take in any situation regarding income taxes is to speak with a professional tax preparer or CPA.

If you have any additional questions about the First Time Home Buyers Credit or any other real estate related questions please call me anytime. If your question needs to be answered by a CPA or tax preparer and you do not currently have one, I'll be glad t refer to you in my network.

And of course, I am NEVER too busy for your business or referrals. Please let me know how I may be of service to you with any of your South Bay or Southern California Real Estate Needs. I also have a great network of brokers outside our area ready to handle your business as well.

California Association of Realtors 2010 Market Forecast

2009-10-08T13:09:00.000-07:00

Here's a summary of the 2009-2010 Market Analysis and Forecast by the California Association of Realtors Chief Economist Leslie Appleton Young. I have the 100 page document in PDF for all areas of California. If you would like information for any particular area or market, let me know and I'll send it to you.

By Leslie Appleton Young

The median home price in California will rise 3.3 percent to $280,000 in 2010 compared with a projected median of $271,000 this year, according to C.A.R.’s "2010 California Housing Market Forecast," presented today at CALIFORNIA REALTOR® EXPO 2009 in San Jose. Sales for 2010 are projected to decrease 2.3 percent to 527,500 units, compared with 540,000 units (projected) in 2009.

“California’s housing market continued its strong sales rebound this year, resulting from the continued pace of distressed properties coming to market,” said C.A.R. President James Liptak. “This follows two years of double-digit sales declines in 2006 and 2007. Looking ahead, we expect sales to moderate to a more sustainable pace.”

“After experiencing its sharpest decline in history, we expect the median price to rise modestly next year,” Liptak added. “2010 will mark the beginning of the ‘new normal’ for California’s housing market. This ‘new normal’ likely will feature a steady stream of sales driven by distressed properties in the low end of the market, coupled with moderate home-price appreciation.”

“With distressed properties accounting for nearly one-third of the sales in 2010, inventory will be relatively lean, under six months during the off-season months, and a roughly four-month supply during the peak season,” said C.A.R. and Vice President Leslie Appleton-Young. “We expect the median price to decrease slightly through the remainder of 2009 and into next year, then rise before leveling off next summer. For the year as a whole, home prices are forecast to reach $280,000. The wild cards for 2010 include foreclosures, loan resets, the labor market, and the California budget crisis, as well as the actions of the federal government.”

(The photo at the top is for my new listing at 12 Avenida De Camelia in Rancho Palos Verdes. You can view all the additional pics and information at http://www.12avenidadecamelia.com/ or call me for your private preview today!)

Firestorms 2009 Legal Issues from C.A.R.

2009-09-08T19:34:00.000-07:00

The following information is brought to you courtesy of

The California Association of Realtors.

Many of us have experienced a loss this season or have friends or loved ones who have been impacted by the firestorms. I hope this information will be helpful in answering some questions regarding real estate transactions and the impact of the Firestorms on real estate contracts and personal obligations. This is not intended as legal advice or tax advice.

The seasonal firestorms we experience in California raise several legal questions for REALTORS® and their clients. The following questions and answers may be helpful for property owners and residents who have suffered a loss, or for buyers who are in escrow to purchase property involved in the disaster.

Q 1. What are the general rules concerning who bears the risk of loss in a real estate transaction where an "Act of God" or other disaster, such as fire, affects the property?
A If the purchase contract between the parties does not specify who is to bear the risk of damage or loss to the premises during the time between the execution of the contract and the transfer of title, the liability of the parties is governed by the California Uniform Vendor and Purchaser Risk Act (Cal. Civ. Code § 1662). Under the provisions of this statute (assuming no fault on the part of the buyer), the risk of loss or damage to the premises is carried by the seller until the buyer receives either title or possession. If all or a material part of the premises are damaged before title or possession is given to the buyer, the buyer can cancel the contract and recover any portion of the purchase price paid. It is not clear whetherthe buyer can alternatively elect to enforce the contract with a reduction in the purchase price equal to the loss of value or cost of repair. (Cal. Civ. Code § 1662.) After the buyer has taken possession or has received title,the buyer bears the risk of loss or damage to the premises (assuming no fault on the part of the seller). Therefore, if the premises are damaged, the buyer must still complete the contract and pay the balance of the purchase price. (Cal. Civ. Code § 1662.) If the purchase contract does contain a risk of loss provision, that provision will govern to the extent it is different from or more specific than the Uniform Vendor and Purchaser Risk Act (Uniform Act) (Cal. Civ. Code § 1662).
Q 2. May a buyer get out of a purchase contract under the Uniform Act if the damage or loss caused by fires to the property is minor?
A Probably not. The Uniform Act implies that the seller may still enforce the contract if the damage is not material. However, a purchase agreement may require the seller to repair such damage. For example, Paragraph 7A of C.A.R.'s Residential Purchase Agreement requires the property to be maintained in substantially the same condition it was in on the date of acceptance. Under this language, a seller could be obligated to repair fire-related damage to his or her property.
Q 3. May a buyer get out of a purchase contract under the Uniform Act if the damage or loss caused by fires to the property is major?
A Yes. To repeat, if (1) neither legal title nor possession has transferred from the seller to the buyer, and all or a material part of the real property is destroyed by fire, and (2) no express contract provision to the contrary exists, then, under the Uniform Act the seller cannot enforce the purchase contract and the buyer may cancel and recover any portion of the purchase price already paid. (Cal. Civ. Code § 1662.)
Q 4. If the damage is not severe, does the timing of the fires (whether they occur before or after an inspection) affect the right to cancel?
A Yes. If the damage occurs before the buyer has removed an inspection contingency in his or her purchase contract, the buyer can, of course, exercise any inspection, disapproval, and cancellation rights provided by the contract.
If the damage occurs after the buyer has removed his or her inspection contingency, the buyer generally does not have an automatic right to reinspect the property and approve or disapprove of its condition under most purchase contracts (including C.A.R.'s Residential Purchase Agreement). However, the seller may be obligated to repair the property. A purchase agreement may, however, require a seller to disclose fire-related information, which in turn may give a buyer a right to cancel a transaction, even if he or she has already removed contingencies. For example, Paragraphs 5A(3) and (4) of C.A.R.'s Residential Purchase Agreement provide that if,prior to the close of escrow, the seller becomes aware of adverse conditions materially affecting the property, the seller must provide a subsequent or amended disclosure or notice, which then gives the buyer a right to cancel the agreement.
Q 5. Must a seller disclose major fire damage that has not been repaired when attempting to sell the property?
A Yes. For sales of residential one-to-four unit properties, the Real Estate Transfer Disclosure Statement (TDS), Section II (Seller's Information), paragraph C.9, asks:
"C. Are you (Seller) aware of any of the following: . . . 9. Major damage to the property or any of the structures from fire, earthquake, floods, or landslides.______ Yes ______ No." (Cal. Civ. Code § 1102.6 (emphasis added).)
In addition, for both residential one-to-four unit and other properties, the seller is required to inform a buyer whether the property is located in a "very high fire hazard severity zone" (which has certain maintenance requirements) or a "state responsibility area" (which may contain substantial forest fire risks and for which the state has primary financial responsibility for fire prevention and suppression). (Cal. Civ. Code §§ 1103.2 et seq.) The disclosure of these and other natural hazard zones is discussed more fully in C.A.R.'s legal article, Natural Hazard Disclosure Statement.
For all types of property, the general requirement of disclosing known material facts affecting the value or desirability of property applies.
Q 6. Must a seller disclose the fact of a fire when there was no major damage to the property?
A Yes, if it is a material fact affecting the value or desirability of the property to the buyer. Even though the property may not have suffered major fire damage, the seller may be aware of other factsrelated to the fire that the buyer might not be aware of. Of course, a buyer must also exercise reasonable care to protect himself or herself in a real estate transaction, and is not excused from discovering problems that are within his or her diligent attention and observation.
Q 7. Must a seller disclose the fact of a fire when there was major damage to the property but it has been repaired?
A California law does not clearly answer whether a seller must disclose past property defects and repairs. At the present time, the law does not appear to require disclosure of past defects and repairs unless the problems may be persistent. In other words, a defect which has been fully repaired and no longer threatens the value or desirability of the property probably need not be disclosed. On the other hand, defects which are difficult to remedy and which may continue to plague the property may have to be disclosed. Given some uncertainty in this area of the law, many sellers may prefer to resolve doubts infavor of disclosure to minimize the risk.

Q 8. What are the tax effects of destruction of a property?
A Federal income tax law provides for the deduction of "casualty losses," which include destruction of property by "Acts of God" including fire, theft, and certain other types of losses. (See 26 U.S.C. §165.)
The following is a brief summary of the rules:
(1) For business property, the casualty loss is fully deductible. (26 U.S.C. §165(a).)
(2) For non-business property of individuals, losses from "casualties," including floods, earthquake, fire, storm, or other natural occurrences, are generally deductible only to the extent that the total of such losses exceeds 10 percent of the taxpayer's adjusted gross income for the year of loss. Any loss is deductibleonly by a taxpayer who itemizes deductions. Each loss is subject to a $100 floor. The amount of a casualty loss is the lesser of, (a) the difference between the value of the property immediately before and after the loss, or (b) the adjusted basis of the property immediately before the loss. (26 U.S.C. §165(c)(3) and (h).)
(3) If the loss results from a disaster that the President determines to be eligible for federal assistance, the taxpayer has the choice of deducting the disaster losses on his or her return either, (a) for the year in which the loss occurred, or (b) for the preceding tax year. (26 U.S.C. §165(i).)
See the Internal Revenue Service's website for more information. For a copy of the IRC code, go to U.S. Code Online and enter 26 for the title and 165 for the section and click on search.
Please contact an accountant or tax attorney for further details about the tax effects of fire losses on a particular transaction.
Q 9. Can a landlord or tenant terminate a lease or a rental agreement if all or parts of the premises are destroyed by fire?
A Yes. Under California Civil Code Section 1933(4), the agreement is terminated automatically if the entire premises are destroyed, unless the parties have agreed to something different. In the event the premises are only partially destroyed, the tenant can terminate the lease by notice to the landlord if the landlord had reason to believe at commencement of the lease or rental agreement that the portion destroyed was a "material inducement" to the tenant to enter into the lease (Cal. Civ. Code §1932(2)).Again, any contrary agreement between the parties will govern.
Q 10. Can a landlord collect further rent after the lease or rental agreement is terminated due to destruction of the premises?
A No. The obligation to pay future rent is extinguished when the rental agreement is terminated. However, a tenant may still owe back rent.

The information contained herein is believed accurate as of September 2, 2009. It is intended to provide general answers to general questions and is not intended as a substitute for individual legal advice. Advice in specific situations may differ depending upon a wide variety of factors. Therefore, readers with specific legal questions should seek the advice of an attorney.

Please call me with any questions ... if I don't have the answers, I'll get them for you! Let us know how we may be of service!

IT'S RAINING INSIDE MY MASTER BATH!

2009-07-14T16:24:00.000-07:00

The weather has finally begun to show signs of summer. June gloom is edging away and the sunny Southern California sun has finally begun her tour across the South Bay. The air in the mornings is crisp and clean. As I walk with my dogs through the tall Pine trees, everything smells fresh and sweet at 6:00 a.m. with temperatures in the low 60's. Lomita Pines Photos

Now it's about Noon ... the sun begins to beat down ... and beat down... and beat down... and temperatures rise and my dogs find shelter on the cool stone floors, begging not to be put outdoors. I begin to remember those hot summer days I used to frolic through when I was 10. Now they create rivulets of sweat coarsing down my back but I digress...It is definately summer. 90 degrees+ Not normal!

Here in the South Bay we enjoy very mild weather patterns. We are actually quite spoiled by the weather. The cool breezes off the ocean or the harbor (depending on which side of the Peninsula your home is attached) keep us quite comfortable. We rarely use air conditioning. We pride ourselves on our conservative use of electricity in the summer.

At 5:00 I did it! I turned on the air conditioning. I just wanted to cool things down a tad before getting prepared for an evening event. Just a few hours of air conditioning usually do the trick. About 7:00 I headed for the master bedroom to get ready to go out. I walked into the master bath and there was a new "water feature" not unlike the one in my patio, but upside down so to speak. Water was not dripping but pouring from the light fixture in my bathroom. My brain went into shock as I tried to figure out what would cause such a thing to happen. The dogs and I watched for a few seconds and then it hit me. It had to be the air conditioner. The furnace is poised right above the bath. I pulled open the attic door and sure enough, water was pouring from the condensation tubing which should have been entering the drain provided for it's collection. I rushed to shut down the air conditioner and gathered up a mop and towels and started cleaning up the new lake in my bathroom.

Since this is the beginning of the summer season for many of you, my story is meant as a reminder. Many of us have not used our air conditioner for six months or more. Many things can occur in that period of time. The drains get clogged, The tubing escapes from the fittings. Mold has formed in the tube or drain. Remember to remind your clients (and friends and husbands or wives) that summertime is a good time for a air conditioning "dust and clean." We change the filters and vacuum the vents but we don't think about the fragile mechanical parts until something like this happens. It's not a bad idea to have the air conditioning people take a peek and make sure you're ready for the season! Flooding does not help to cool the house in the summer ...

By the way, if you need a few recommendations for help around the house, check my Business Referral Directory and let them know that Charlie sent you - they'll take good care of you!

Good luck and God Bless. Let me know if you have any helpful hints for homeowners preparing for the summer season.

Charlie

Team South Bay Realty

JUNE GLOOM IN THE SOUTH BAY

2009-06-08T19:29:00.000-07:00

June and everyone is getting ready for beach weather but here at the beach it's June Gloom time. Hard to figure out sometimes why the beach weather is always best around October. I lived on the beach for 15+ years and my toes never touched the water until late August. Hearty souls racing through the surf without wetsuits in June amuse me! Any surfer knows the coast will not be kind for 30+ days.

But I digress...this year the gloom is on the market! Albeit June, but not the same kind of gloom. Just as we begin to dip our toes in the icy waters of real estate this frightful year, hearing hopeful words from our courageous leaders about fabulous first time buyer programs, lowest interest rates in history, markets trending upwards, here come the clouds (or as Judy Collins used to sing..."bring in the clowns.") Of course as the summer season begins to heat up, Bernanke starts to cool down. I find myself screaming at the newsbusters - FOCUS, FOCUS, FOCUS! (Too bad Mervyns closed down, I loved those OpenOpenOpen commercials)

And so, as our fearless leader races around the globe trying to solve world problems and make nice and our governator beseeches us to be flexible with our tax dollars, I ponder...is it my imagination that 70% of the listings are "short sales" and now they are raising the interest rate?

If June Gloom happens in the forest and nobody sees it does it really exist?

As Judy Collins sings ... Isn't it bliss...don't you approve...one who keeps tearing around...one who can't move...where are the clowns?...send in the clowns...don't bother they're here!

$8,000 First-Time Home Buyer Tax Credit

2009-06-01T17:57:00.000-07:00

As the stomach churns and as prices continue to plunge across the US, there are more programs being offered to help stimulate first time buyers into action. The biggest one right now is the $8,000 First Time Home Buyer Credit Program.

U.S. Housing and Urban Development Secretary Shaun Donovan on Friday unveiled a policy change to that program that would provide home buyers with quicker access. Buyers would be free to put the funds toward closing costs and a portion of their down payment instead of receiving only a tax credit. The federal government hopes that the measure will stimulate housing demand.

President Obama's $787 billion economic stimulus plan—which was signed into law in mid-February—included a tax credit worth up to $8,000 for qualified first-time home buyers. The $8,000, however, was only being issued as a "tax credit." The new HUD initiative enables borrowers to obtain short-term loans allowing them to tap the tax credit to actually purchase the home. Donovan said in a news release. "What we're doing today will not only help these families to purchase their first home but will present an enormous benefit for communities struggling to handle an oversupply of housing."

The measure only applies to Federal Housing Administration (FHA) mortgages and the short-term loans can't be used to pay for the minimum 3.5 percent down payment that FHA loans require. Instead, the loan can be used for closing costs and to finance the portion of the down payment that exceeds the 3.5 percent threshold. The administration opted to have borrowers come up with the initial 3.5 percent themselves to ensure that buyers have an investment in the purchase, which they feel will reduce the likelihood of default.

If you are a first time buyer and are interested in obtaining an FHA loan utilizing the $8,000 credit, call for more information and we will refer you to a qualified FHA Mortgage Broker in your area. This is a special program and must be handled by FHA certified mortgage brokers.

Also available on demand are 2009 Sales Charts for all the South Bay cities. Call or email with your specific city request and we'll send out your up to date FREE, no obligation sales chart for your area (or area in which you are interested in investing.) I will also be posting monthly updates for the South Bay area on my Facebook Page (check Twitter for update notices.)

Stimulate OUR economy - buy local!

By the way, the cute little house at the top is a new Lease Offering @ $2300 per month for those not yet ready to buy - call for more information. It's located in beautiful Lomita Pines!

Did The Earth Move For You?

2009-05-18T13:28:00.001-07:00

Monday, May 18, 2009
DID THE EARTH MOVE FOR YOU?
After dinner last night I was typing in my Face Book when something picked up my house and plopped it back down again...

I had a glass of wine on my desk and I watched my glass in amazement as it hopped up and righted itself without losing a drop! One of my dogs, however, was not as confident about the situation as my wine glass seemed to be. She threw open the patio screen and tried to fit all 125 pounds of her quivering fur self into my lap, pushing the other dogs and my keyboard and waste basket clean out of her way.

I've lived in Los Angeles for over 30 years (I believe that makes me a native, doesn't it?) I've survived the Northridge Quake, several Long Beach bursts and a host of assorted mini movers and shakers. Each time the drill is the same...quiet the dogs, carefully look around the house for broken glass and eventually venture outdoors to check for any broken pipes or evidence of foundation shifting, fallen trees or shaken neighbors. Here in the South Bay, we have been very blessed. We sit on a good deal of bedrock and have tested our homes' flexibility enough times to feel fairly safe. Of course, Redondo Beach is within Tsunami reach and Palos Verdes has the Long Beach fault running through it (as well as Lomita, Harbor City, San Pedro and Wilmington.) Needless to say, we still catch our breath when the rumbling starts.

I'm a certified CERT member (Community Emergency Response Team) and was trained in Redondo Beach by some of the best fire fighters in Los Angeles County! We completed some drills that would make Grey's Anatomy (the TV program on Thursday nights) look like Romper Room. We learned how to triage the neighborhood and toe tag the casualties. We learned how to shut off gas service to prevent fires and handle water shut offs before broken pipes turn houses into swimming pools. We learned how to store food and supplies and prepare to help others in assorted states of emergency. We learned how to comply with FEMA rules, give first aid, give CPR, use Cribbing, how to use Fire Extinguishers and to work on a hose line operation.

Of course, non of the above can prepare you emotionally for any actual event but it helps. Those first few crucial moments when your mind snaps into place and fear retreats, come a lot faster with this training. I sincerely suggest that everyone reading my blog consider checking with your local city or county to find a CERT program to prepare you to help yourself, your family, your neighbors and your community in a time of crisis. We know it's coming. We know we must prepare. We should also be conscious that this kind of training may save your life or the lives of your loved ones and all it takes is one night a week for a few weeks. You won't be sorry - you'll be glad you did it.

By the way, they don't train how to catch a Great Pyrenees dog flying at you across a room in emotional distress. Call me and I'll give you some pointers!

Charlene "Charlie" Hoffmann
Team South Bay Realty
Charlie@YourSouthBayTeam.com
310-534-3940 (direct)
310-947-5453 (mobile)
www.TeamSouthBayRealty.com

We do not act rightly because we have virtue or excellence, but we rather have those because we have acted rightly.
-- Aristotle, Greek philosopher (384-322 BC)

What is a Certified Distressed Property Expert?

2009-05-11T07:18:00.000-07:00

All markets have a certain percentage of homes or homeowners who are distressed. Distressed could reference the condition of the property, the state of the homeowners finances, the reduced value of a property because of poor market conditions...there are many variations. In a healthy market one can expect about 1 to 3% of properties/homeowners to be "distressed." In some areas today, distressed properties may number as many as 1 in 10.

Here in the South Bay area we are quite fortunate. We are experiencing somewhere in the area of 1 in 75 homeowners facing either some loss of income, property in foreclosure (or currently behind in payments) or mortgages adjusting to sometimes double the original monthly payment. Our values have declined but generally only 25 to 35% (varies from city to city.) This is good news for us geographically. For a homeowner who just lost a job and is facing an increase in his/her mortgage payment because of an adjustable rate mortgage at a time when their value has decreased possibly under their loan balance, the news is not so great. Many times, these homeowners try to work with their lender (loss mitigation departments) to work out a payment plan or rewrite their loans for lower payment amounts (with the owed balance tacked on the back end.) Check Government Site: http://www.makinghomeaffordable.gov When the lender can't help and the homeowner must sell the home to avoid foreclosure, my expertise as a Certified Distressed Property Expert applies. In working with a "short sale" (loan balance is higher than market value) the first thing a homeowner must do is put their property on the market. Homeowners must choose a Realtor who has the specific training to work with the lender and help them through this process in the most efficient and painless way possible. Call me for a free confidential consultation to help determine whether you, a friend or a loved one may be a candidate for a "short sale."

In my next few blogs, I will be going through some additional information to help distressed property owners. In the meantime, I will be putting together a new website http://www.TeamSouthBayShortSales.com and will be posting information on the website to answer some of your questions, especially the biggest question regarding FORECLOSURE vs. SHORT SALE.

Call anytime for no obligation information: 310-534-3940

2009-04-22T17:00:00.000-07:00

Mark Twain and his good friend the writer, William Howells were leaving church on Sunday when it began to rain heavily. Howells looked up at the clouds and said, “Do you think it will stop?” “It always has,” replied Twain…

I started working in the real estate business in 1979. Interest rates were 17%. Banks were not lending. In order to sell homes, we were “wrapping” loans, doing AITD’s and using many other methods, which by today’s standards would probably result in a quick indictment at best in some cases. People were losing their homes then too, but we survived.

In the early 90’s we experienced a similar climate. The economy (especially in my area) was challenged by many factors. We lost our aerospace economic foundation in the South Bay. California lost many profitable manufacturing businesses to other states. Again, some of our families lost their homes, their jobs, their dignity but we survived.

In comparison, more than 1000 banks closed in 1930 – only 14 U.S. banks were taken over in 2008. There are 76 million households in the U.S. that own their home - 24 million of these homes are FREE AND CLEAR! There are 52 million homes with mortgages - 97.2% of these are NOT in foreclosure, 93.8% of these homes are CURRENT on their payments.

I see the clouds in the sky too but I also see that clouds cannot remain constant, by their very nature. Time passes, things chance and as the philosopher Heraclitus said “You could not step twice into the same river; for other waters are ever flowing on to you.” Enjoy this time of abundance for many and growth and change for us all. Make the most of the positive aspects of today’s economy. It’s never as bleak as the media portrays. Remember, bad news sells, good news revives and this too shall pass.

Call for help if you have a loan challenge. As a Certified Distressed Property Expert, I can help you in saving your home or help you in purchasing one of todays abundant REO’s or “short sales.” As my friend Sam always tells me “It’s all good, Charlie, it’s all good.” The rain always stops!

545 PEOPLE...

2009-03-27T07:22:00.000-07:00

This article was written by Charlie Reese.

Charlie Reese has been a journalist for 49 years.

Politicians are the only people in the world who create problems and then campaign against them. Have you ever wondered, if both the Democrats and the Republicans are against deficits, WHY do we have deficits? Have you ever wondered, if all the politicians are against inflation and high taxes, WHY do we have inflation and high taxes? You and I don't propose a federal budget. The president does. You and I don't have the Constitutional authority to vote on appropriations. The House of Representatives does.You and I don't write the tax code, Congress does.You and I don't set fiscal policy, Congress does. You and I don't control monetary policy, the Federal Reserve Bank does. One hundred senators, 435 congressmen, one president, and nine Supreme Court justices 545 human beings out of the 300 million are directly, legally, morally, and individually responsible for the domestic problems that plague this country. I excluded the members of the Federal Reserve Board because that problem was created by the Congress. In 1913, Congress delegated its Constitutional duty to provide a sound currency to a federally chartered, but private, central bank.I excluded all the special interests and lobbyists for a sound reason. They have no legal authority. They have no ability to coerce a senator, a congressman, or a president to do one cotton-picking thing. I don't care if they offer a politician $1 million dollars in cash.The politician has the power to accept or reject it. No matter what the lobbyist promises, it is the legislator's responsibility to determine how he votes.Those 545 human beings spend much of their energy convincing you that what they did is not their fault. They cooperate in this common con regardless of party. What separates a politician from a normal human being is an excessive amount of gall. No normal human being would have the gall of a Speaker, who stood up and criticized the President for creating deficits.. The president can only propose a budget. He cannot force the Congress to accept it.The Constitution, which is the supreme law of the land, gives sole responsibility to the House of Representatives for originating and approving appropriations and taxes. Who is the speaker of the House? Nancy Pelosi. She is the leader of the majority party. She and fellow House members, not the president, can approve any budget they want. If the president vetoes it, they can pass it over his veto if they agree to.It seems inconceivable to me that a nation of 300 million can not replace 545 people who stand convicted -- by present facts -- of incompetence and irresponsibility. I can't think of a single domestic problem that is not traceable directly to those 545 people. When you fully grasp the plain truth that 545 people exercise the power of the federal government, then it must follow that what exists is what they want to exist. If the tax code is unfair, it's because they want it unfair.If the budget is in the red, it's because they want it in the red .If the Army & Marines are in IRAQ , it's because they want them in IRAQ If they do not receive social security but are on an elite retirement plan not available to the people, it's because they want it that way.There are no insoluble government problems.Do not let these 545 people shift the blame to bureaucrats, whom they hire and whose jobs they can abolish; to lobbyists, whose gifts and advice they can reject; to regulators, to whom they give the power to regulate and from whom they can take this power. Above all, do not let them con you into the belief that there exists disembodied mystical forces like "the economy," "inflation," or "politics" that prevent them from doing what they take an oath to do. Those 545 people, and they alone, are responsible. They, and they alone, have the power.They, and they alone, should be held accountable by the people who are their bosses. Provided the voters have the gumption to manage their own employees. We should vote all of them out of office and clean up their mess!

Charlie Reese is a former columnist of the Orlando Sentinel Newspaper.

What you do with this article now that you have read it... Is up to YOU!

Thank You Charlie Reese!

LET'S MAKE LEMONADE!

2009-03-26T10:54:00.000-07:00

Something of a mystery to many right now is how to maneuver in today's real estate market to avoid the pitfalls in Short Pays and REO's. Having been in this business for going on 30 years, I've seen the bottoms fall out before. We know that no business can continue in one direction forever.

That said, what happens next in this climate? Do you reinvent your portfolio? Do you change your career? Do you give up on home ownership? NO TO ALL THREE. I don't like to use the term "change" as I am not on that Band Wagon. Instead, I am a conservative Republican ... there I said it! I am not opposed to capitalism. I believe we should all be responsible for what we create - positive or negative. I don't believe the government should bail us out of our own mistakes. Along those lines, it's time to take stock of who you are and what you are willing to do to pull yourself up by your own bootstraps and make some "lemonade." If you have some savings and are willing to invest, REO's today are an excellent choice. Interest rates are at an all time low. Banks are now prepared to finance again. This is going to sound like a Dennis Miller rant but everyone should stop whining and start focusing. There are too many opportunities being overlooked right now. Instead we are listening to the media use soundbites to direct us to others' agendas. Let's start taking care of ourselves. Let's use the word POSSIBILITY again in the right context. Let's move forward America - the only real "bail out" we need is the removal of the wax from our ears and the glue from our feet. MOVE FORWARD now. Use these opportunities to create your possiblities - YOUR CHANGE! Be in charge and prosper. If you need help, call me. I'll push you in the right direction!

AN ATTITUDE OF GRATITUDE! Charlie's 2008 Client Appreciation Party

2009-01-01T12:41:00.000-08:00

The year 2008 ended with a house full of gratitude! My Annual Client Appreciation Party was so much fun. My heart was full to see all my wonderful clients enjoying themselves and chatting with neighbors and friends they had yet to meet. We had a great Pasta Bar (let me know if you need some recipes for your next party) and tons of baked goods and refreshments. Our star of the day was Michael Garisek, a renowned Caricature Artist. Everyone hooted and hollered when they saw Michael's renditions of the kids and parents based on his investigation of their hobbies, sports interests and spontaneous bursts of laughter and information about each other. Michael was our entertainment last year and was such a hit we invited him back again for the people who missed last year's celebration. We were sure happy to have him.

I want to thank everyone for making 2008 a GREAT year for me and Team South Bay. We appreciate you and are very grateful for your business, your friendship and your referrals. We are looking forward to a FINE 2009, so please let us know how we may be of service for any of your real estate needs! Also, don't forget to check our Business Referral Directory for local shops and trades. We all love to work by referral and are accountable to each other to make sure you, our customers and clients are always happy with the results!

Happy New Year and God Bless!

40 Ways to Simplify Thanksgiving! (Or How to Score A Turkey and Eat It Too!)

2008-11-11T14:34:00.000-08:00

Whether you want to introduce new traditions or perfect old ones, make this Thanksgiving the happiest and easiest yet...
3 Weeks Before

Decide which recipes you want to make, keeping in mind that there’s only so much one person — and one kitchen — can do. Get rid of any "dead weight" around the house, like a spouse or "significant other" that does more harm than good anyway ... Start creating your menu ... If you really do need 10 side dishes, start thinking about why you don't have a life and cut that nonsense menu down to a few items! Make sure they all cook together, just like the guests you'll be inviting to your little gathering...

After you narrow down your menu, reread the recipes that remain. Most can be thrown in the trash right now if you have a lick of sense. For the absolutely necessary ones, look at the steps that you can do ahead of time. Now make a list of what you want to get done and give it to that "good for nothing" sister-in law that is always preaching about how she can do everything better than anyone else anyway!! That should keep at least one loud mouth quiet for a few days leading up to Thanksgiving...If you give her enough time, she'll get it done and you'll be totally relaxed on the big day!
2 Weeks Before

Figure out what size turkey you need and call up your ex-husband or ex-wife or any other creepazoid that had the audacity to use up the best years of your life ... start crying, berating them and accusing them of ruining your life to the point that you can't even afford a ?!?!? turkey...let them know what size you need and when they should deliver it to your house. Make sure it's not a frozen one when they drop it on your doorstep, ring your bell and run... if it is, call them back and tell them what scum buckets they were for not getting you a fresh one. We'll talk about thawing the bird later...right now it's time for a few kudos and a martini. You've scored! Oh, don't forget to bathe the dog!! You don't want him more fragrant than the bird on the table.

The Weekend Before

Make a detailed shopping list and check it — twice. But don’t expect to get all your shopping done in one trip. Call two or three of the deadbeat relatives who will be guzzling your booze and eating up your food budget for three weeks and divide your list into parts: items you’ll need in advance (wine, vodka, gin, bourbon) and items you’ll need the final day or two before the meal (celery,onions...you get the picture.) Keeping these morons on separate trips, a few days apart, not only keeps your refrigerator from groaning but also relieves you of having to deal with all of them any longer than necessary and God forbid at the same time. Make sure your shopping lists suggest they grab a few bottles of something to serve with the meal (since there won't be much of the early deliveries left by Thanksgiving.)
Tuesday

Make everything that will be served chilled, like cranberry sauce and Martinis. Cover the dishes, place them in the refrigerator, and forget about them. Pour yourself a tall one and watch reruns of Desperate Housewives on TIVO.

Wednesday

Take inventory before calling your Bozo relatives to make their second trip to the store and make sure you haven't used all the beverages. AND don’t forget to check on the turkey. Have the nudnick from down the street who is going to stop by for free food anyway on Thanksgiving Day (always does) chop the onions and the celery, wash the herbs, and trim the rest of the vegetables. Pat him on the behind and send him home. Assemble the stuffing, transfer to a baking dish, and refrigerate. Prepare the dessert (put the ice cream in the freezer when the meathead gets back from the store.) Practice with the "bird" assuming it's been delivered!!

Thanksgiving Day

If, like most people, you think of one last thing you need from the store on Thanksgiving morning, call a trusted guest and ask if he or she could do you a favor (like buy a darned turkey!) All you’ll have left, is the final assembly.

While the Turkey Roasts…get cooked while thinking about side dishes.

While the Turkey Rests…you rest too and give that turkey a good smack on the bottom to help the juices emerge. Make the gravy (open the can and read the directions) search the refrigerator for left overs from the last time you cooked anything and serve as sides.

During Dinner… berate the guests for not bringing enough Holiday wine ... after all, you don't want them driving home sauced!? Best leave the hooch for you to enjoy after they are done cleaning up the kitchen.

And so you have it...another Thanksgiving Dinner "in the can" as they say in the studios...

Happy Thanksgiving to you and your family!

Glad to be of service ! Charlie & Team South Bay

Team South Bay's Last Seminar for 2008!

2008-10-07T12:51:00.000-07:00

We are so excited! This month we are bringing you the last seminar of the year for 2008. We will be presenting Senior Lead Officer Joe Buscaino from the Los Angeles Police Department, San Pedro! He will be giving a presentation on Holiday Safety and Crime Prevention. You will learn how to keep your home and family safe this Holiday Season, Halloween through New Years and beyond! Officer Joe is our local crime fighting expert. Joe's expertise and tips will be our special gifts for your family this year.

Joe's pictured here with Leonardo, a loyal San Pedro Service Dog!

Join us for a great presentation by one of San Pedro's BEST! Meet your hosts, the folks from TEAM SOUTH BAY and enjoy some munchies with your community neighbors. It will fun and informative. Bring your neighbors, friends and relatives too!

TUESDAY, OCTOBER 21st from 6:00 p.m. to 8:00 p.m. Please call or email Charlie with your RSVP so we can get a "head count" for refreshments. We'll give you the address and directions when you make your reservations! Looking forward to seeing you all...stay safe and please ... don't drink & drive!

TOO MUCH HURRY FOR SLURRY!

2008-09-02T07:48:00.000-07:00

The City of Lomita (and taxpayers) finally got around to repairing our streets! Our neighborhood was quite pleased to see the work trucks arrive, the streets being patched and the final chapter ... fresh Slurry Seal!! The workmen were diligent, organized and efficient. They were careful not to destroy anyone's lawns, drip slurry on the curbs or completely destroy the traffic patterns...great job! The roads were only closed for one day (actually about 8 hours.) They alternated streets to cause the least disturbance possible. They directed traffic. They did an excellent job! They performed their duties, put up barriers and left the slurry seal to set.

Then, as unbelievable as this may sound, some folks disregarded the posted signs, the mailed notices, the hand delivered notices and the obvious presence of workmen with their equipment, so noticeable in the neighborhood and drove through the fresh slurry seal. These people opened up barriers and actually drove down the fresh slurried streets before they were set. Too much of an inconvenience for some...a real irritation for those of us who actually appreciate living in a neighborhood where the streets are tended. I don't understand how people could be so inconsiderate. Maybe it's because I'm blonde, but many of my neighbors are equally annoyed. I hope Lomita follows up on these folks and slaps a big fine on them!

There are days when you're the bug and days when you're the windshield...
I'm sure these workmen who had to come back and see the MESS that was made of their highly efficient work were equally dismayed. I watched them try to repair the damage made from tires digging ruts through the fresh slurry. Unfortunately, hours after the damage occurred, the ruts became a permanent fixture. It was pretty obvious who the culprits were. In some cases, the tire tracks came right from their driveway. Of course, they were supposed to have their cars off the street for the work to be performed but no one told them they couldn't drive out of their driveway into the fresh slurry or open up the barricades to drive their cars home. Amazing!

The good news ... it will take these folks a lot of elbow grease to remove the "kicked up" slurry seal from their undersides and bumpers and hopefully, paint jobs. I'll enjoy watching them. I'm sure they will be the first to complain about the mess that the streets made of their car. That will not surprise me. These are the same folks that gripe about everything anyway. It's always ALL about them. Next time we should spend a little more money and hire "slurry police." Maybe a few fines will cause people to be a little more considerate and conscious.

In the meantime, thanks Lomita for helping us keep our neighborhoods safe and clean!! Some of us really do appreciate your effort!!

Gary Chan's Fireside Chat for Team South Bay Clients in the Pines

2008-08-20T12:20:00.000-07:00

April 1st this year was not a day for "fools." Gary Chan who is an expert in the fields of Family Trusts, 1031 Exchanges and tax law held a fireside chat for Team South Bay clients and neighbors of Lomita Pines. His energy was incredible as he addressed multiple issues faced by all of our families, homeowners and investors in today's market. Charlie's Team South Bay client base has a large number of investors and huge following in the Lomita Pines area as well as other South Bay cities such as Torrance, Redondo Beach, Harbor City, Rancho Palos Verdes and San Pedro. There were clients present from all cities and walks of life at our April 1st event.

Gary, who recently joined McDowell, Dillon and Hunter as a Senior Tax Manager working out of the Redondo Beach office, also has offices in Long Beach and Northridge. Gary works with business and high net worth clients in the areas of estate & wealth planning, business, real estate, trust administration, probate, U.S. taxation and 1031 exchanges.

Gary K. Chan is both an Attorney and Certified Public Accountant. He also received the designation as Personal Financial Specialist from the American Institute of Certified Public Accountants in 2001.

Gary was fabulous as he lead an open forum discussion entirely focused on questions from the audience. The clients were very happy to have the opportunity to get their questions answered by an expert without paying hundreds of dollars per hour. Gary's time was expensed by Charlie's Team to provide added benefits for our Customer Appreciation Program. We hold 4 seminars each year addressing real estate issues experienced by the client base and/or topics requested by our clients or area residents.

Our next seminar will be October 21st. We will have a member of the Los Angeles County Police Department addressing Holiday Safety and Neighborhood Watch Programs. Anyone interested in attending, contact us to RSVP your seat.

A QUICK SUMMER DISH WITH STYLE!

2008-08-19T15:41:00.000-07:00

It's been HOT! and the quicker I can get out of the kitchen on a hot summer night, the happier I am. We do a lot of outdoor grilling, but some things just don't do well on the grill (noodles for example.) I thought I'd pass along a recipe I picked up years ago that we enjoy. It will get you out of the kitchen quickly and satisfy your palate too. A nice salad is all you'll need to accompany this dish and maybe some rice would be nice...try it I think you'll agree! Cooking is a hobby of mine - send me your favorite recipe to share with others. Holidays will be here before you know it!!
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Portuguese-Style Scallops

Ingredients

1 1/2 pounds sea scallops
1/2 teaspoon salt
1/4 teaspoon black pepper
1 tablespoon olive oil, divided
1/3 cup tawny port or other sweet red wine
2 tablespoons fresh lemon juice
1/4 cup chopped fresh parsley, divided
5 garlic cloves, minced
2 cups hot cooked long-grain rice

Preparation

Sprinkle scallops with salt and pepper. Heat 1 1/2 teaspoons oil in a 10-inch cast-iron or heavy skillet over high heat until very hot (about 3 minutes). Add half of scallops; cook 2 minutes on each side or until browned. Remove scallops from pan; keep warm. Repeat procedure with 1 1/2 teaspoons oil and remaining scallops. Remove scallops from pan.

Stir in port and lemon juice, scraping pan to loosen browned bits. Add scallops, 3 tablespoons parsley, and garlic; saute 30 seconds over high heat. Serve scallops over rice. Sprinkle with 1 tablespoon parsley.

Yield: 4 servings (serving size: 5 ounces scallops and 1/2 cup rice).

Nutritional Information
CALORIES 241(15% from fat); FAT 3.9g (sat 0.5g,mono 2.1g,poly 0.6g); IRON 1.4mg; CHOLESTEROL 45mg; CALCIUM 52mg; CARBOHYDRATE 25g; SODIUM 456mg; PROTEIN 24.8g; FIBER 0.6g

Cooking Light, JUNE 1999

All In A Day's Fun!

2008-08-06T16:57:00.000-07:00

My neighborhood is a popular place to walk...people with kids, people with dogs, early in the morning, late in the afternoon ... in a hurry getting the necessary exercise or slowly, gazing at the tall pines. My dogs and I are early risers and usually walk around 6:00 a.m. The air is cool and crisp and the streets are empty. You can hear alarm clocks waking up and smell coffee pots bursting with fragrant aromas. Even the dogs are quiet. They sense the "zen" of the moment and respect the tranquility. We walk like soldiers sometimes, single file down the streets caressed with heavy bows, soon to be laden with big brown cones - just in time for Holiday decorating. Lomita Pines is a special place. You can own a wedge of peacefulness here. The price is a smile and an appreciation for the heavenly energy. Oh, you can own a home too, at a really good price right now; but peacefulness is priceless; peacefulness is free. Come and share a morning with us, we'll show you around Lomita Pines, but quietly...

Carol Quan's Seminar on the Propositions & Your Property Taxes

2008-02-19T17:31:00.000-08:00

On Tuesday, January 22nd, 2008, TEAM SOUTH BAY was honored to host Ms. Carol Wong Quan, Special Assistant to Mr. Rick Auerbach, Los Angeles County Assessor. In our first seminar of the 2008 Homeowner Seminar Series, Ms. Quan provided our Homeowners with a special presentation about how the propositions affect our property taxes. In an exciting question and answer session with the homeowners, Ms. Quan tackled a number of questions and issues concerning Prop 60/90 (how to transfer your tax base when you're over 55) Prop 8 (reassessment in a downtrend market) Prop 58 (grandparent/grandchild exclusion) Prop 110 (tax base transfer/reassessment for disabled persons) along with a host of questions from our local homeowners concerning everything from Prop 13 adjustments and Supplemental Tax assessment to Disaster Relief and Homeowner Exemptions. Ms. Quan also introduced us to the new "user friendly" and now highly evolved assessor website at www.assessor.lacounty.gov. We were amazed at all the information that is available and honored to host her!

Check out their new website today Assessor.lacounty.gov and don't forget to visit us at YOURSOUTHBAYTEAM.com Call Charlie at 310-534-3940 for locations and to save your seat(s) for our next seminar April 1st - Gary Chan - Living Trusts and 1031 Exchanges.

TEAM SOUTH BAY members include RE/MAX Palos Verdes Execs (Charlie Hoffmann), North American Title (Gale Kadota), Peninsula Escrow (Jackie McGee), Pacific First Financial (Sheila Martelaro), Farmers Insurance (Sam Martelaro) and Allstate Termite Busters (Travis Gambino).

HARBOR LIGHTS & CITY SIGHTS

2008-01-10T16:22:00.000-08:00

Has the Harbor always fascinated you?

Are you one of those people who love to watch the ships go out to sea and dream about far away adventures? If you are, I have a perfect home for you! Nestled on a hill top overlooking the city is this unusual home for the very discerning buyer. An open floor plan with city and harbor views from most rooms creates an otherworldly appeal. The handcrafted woodworking is reminicent of some of our great sailing vessels. You'll be the Captain in this home for sure, entertaining in its formal dining room with wood burning fireplace and sliding glass doors opening to huge decks and fabulous views. Three bedrooms and two baths can accommodate most families but this home also has a private 400 square foot separate office space for the busy entrepreneur. Upgraded kitchen with newer appliances and many well thought out conveniences are a BIG plus in this home. Extra large garage and additional storage are special added bonuses. Preview this home soon ... don't let it be a missed opportunity for your family.

1117 Sepulveda, San Pedro

Asking: $699,000

FIRST HOME SWEET HOME!

2008-01-10T15:22:00.000-08:00

Everyone has to start their homesteading somewhere ... how nice it would be to start your journey in this lovely home! Three LARGE bedrooms, hardwood floors, new outside stucco and newer roof make this home particularly good for first time buyers or investors. Move-in condition, lots of room to add-on and plenty of space for hobbyists and RV parking - even room for a pool, are bonuses. Definitely worth a peek. Lots of new programs with low 3% down payment (if your credit is good.) This is a fabulous market to buy your first home. Check out more photos at http://www.realestateshows.com/240446.

14766 Spinning, Gardena

Great neighborhood, walking distance to award winning schools and freeway close.

$429,500

Call me for loan programs, payments and qualifying for this home.

*

And if you're thinking about becoming a first time investor ...
I have something special for you too!

2 Bedroom one bath in the front, 1 Bedroom one bath in the rear plus a two car garage, loads of parking - big front yard and an extra large lot (you may even be able to add another unit - check with the City of course.) Great if you want to live in one and rent the other or rent them both! Investor "Bread and Butter" units!! Hard to find.
Call for details on this cutie today - it won't last. Drive-by only (Don't disturb the tenants)

1535 204th Street, Torrance, 90501

$429,000

This is a great market - don't stand by and watch your

opportunities become history. Seize the moment!

BUY THE BEACH!

2007-12-04T11:48:00.000-08:00

HEAR THE SEAGULLS CALLING...

Originally built in 1930, this fabulous Spanish Beach House was lovingly updated with a second story just 8 years ago...beautiful hardwood floors, plaster walls (even in the addition), woodburning fireplace, 5 bedrooms, 4 baths, a formal dining room, lovely garden with water feature and brick BBQ/Fireplace, oversized double garage with additional parking pad, spacious family room opening to garden...all of this plus more and only two blocks to the beach!
You can see the waves from the front lawn.

Total of 2573 square feet inside on a 6000 square foot lot (street to alley lot with alley access for the garage and parking pad.)

See a bunch of photos at http://www.realestateshows.com/227947 or check my website for more information http://www.yoursouthbayteam.com/.

Call for your personal private preview today! You won't find another home like this for a LONG LONG time (if ever.)

Asking Price is $1,499,000

Charlie's 2008 Homeowner Seminar Series

2007-12-04T10:37:00.000-08:00

If you live in the South Bay, you won't want to miss our Homeowner Seminar Series in 2008! We have already scheduled our speakers and topics and we're all excited. Here's a peek at our schedule for 2008 ...

January 22, 2008
Carol Quan
Los Angeles County Assessor's Office
Talking about the Propositions and how they affect your tax base! A great time to ask all those questions about your property taxes - Carol has all the answers.

April 1, 2008
Gary Chan
1031 Exchange Expert
Talking about 1031 Exchanges, Living Trusts and how to handle all your title issues and keep those capital gains dollars in YOUR pocket.

July 15th, 2008
CPR Refresher and Pool Safety Presentation
It's time to gear up for summer and prevent problems from ruining your vacation and harming your kids. It's always good to freshen up your CPR techniques and prepare your pool areas for fun and safety.

October 21, 2008
The Los Angeles County Sheriff's Department will be presenting information on Neighborhood Watch implementation and Holiday Safety ... from Halloween to Christmas Shopping...how to keep you and your family safe and happy.

Join us for any of these seminars or ALL of them. Please call for location information and to RSVP (seating will be limited.) Call Charlie @ 310-534-3940 or email charlie@yoursouthbayteam.com or charlie@lomitahomes.com and watch our blog for updates to our seminar series.

MAKING IT GREAT FOR 2008!

GRATITUDE!

2007-12-04T10:06:00.000-08:00

Thankfulness is the beginning of gratitude.

Gratitude is the completion of thankfulness.

Thankfulness may consist merely of words.

Gratitude is shown in acts.

Henri Frederic Amiel

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December 1st, 2007

Charlie Hoffmann and Team South Bay hosted their annual "Gratitude Party." A celebration of clients and friends...time to relax and play and renew for the coming year. We enjoyed a huge "Mashed Potato Bar," Crunchy Kosher Hot Dogs, Slurpy Drinks (for the kids) and a mass of home baked cookies and munchies. The best part, however,was the fabulous cartoonist, Michael Garisek. He drew the most playful and artistic caricatures of all the guests. People lined up to watch and have their pictures done. It was a lot of fun. If you're looking for a great way to bring smiles to all the faces of your friends, clients, kids or neighbors check out Michael @ http://www.cartoonforu.com/.

A special thanks to all the Team South Bay people:

Sam Martelaro (Farmers Insurance)

Sheila Martelaro (Pacific First Financial)

Gale Kadota (North American Title)

Jackie McGee (Peninsula Escrow)

Thank you for a GREAT year! Watch for Charlie's 2008 Homeowner Seminar Series.

Happy Holidays to all!

NEED GARAGE? WE'VE GOT IT!!

2007-11-05T16:04:00.000-08:00

Lomita Pines has some great homes. All custom built, each one unusual in its own way but this one is special for all you car enthusiasts, hobbiests, vacationistas, or just those of you with a bunch of STUFF! Not only do we have a beautiful three bedroom, 2 bath city view home, but we have all that plus a FOUR CAR GARAGE! Hmmm...not to mention a beautifully remodeled kitchen, formal dining room, balcony, covered patio, street to alley driveway and additional downstairs kitchenette ... but a FOUR CAR GARAGE! Take a peek, you don't see that many here in the city. Check out the information on the "rest" of the house too!

LEMONADE IN THE PARK ...

2007-09-04T16:20:00.000-07:00

I may be dating myself here, but this picture reminds me of my childhood...hot summer days with ice cold lemonade, park-like backyards, playsets, lots of room and lots of time and lots of fun! Today, it's hard to find BIG BACK YARDS with quiet park-like settings.... nice places to sit and sip and talk. Put away the IPODS and Blackberries and just enjoy the quiet, watching the kids play...it makes you feel young again. And if you're the parents in this setting, it makes you feel secure and comfortable that your family has a safe, fun place to play and relax!

This is a lovely home in Lomita Pines. Not only does it have this fabulous back yard, it also has four bedrooms, two and one half baths, a large yet cozy living room with fireplace, remodeled kitchen, covered patio, balcony with city views, attached garage with custom cabinets and direct entry into the home, security system, forced air heat and air conditioning. Great floorplan too... one bedroom and bath downstairs has a private entrance (perfect for teens, nannies, inlaws or just guests.) Beautiful handcrafted oak stair rails lead to the spacious upstairs bedrooms with lovely city views. You have to preview this home to appreciate it. More information is available at: http://www.realestateshows.com/196690 or http://www.lomitahomes.com/.

Oh, did I mention that this home is also on a Cul De Sac? Visit us and feel the difference this neighborhood could make in your life and the lives of your family members.

Call me for more information on this and other beautiful homes in the Pines that may fit your needs. My business is in your neighborhood!

It's a Good Life!

It's a Dog's Life!!

2007-07-23T13:57:00.001-07:00

Buttons is my first born. She's a mixed breed; what's playfully called a "Pekapom" which is a Pomeranian Pekingese mix. Buttons found me through an ad in the Penny Saver. We were both in need of a best friend. I found her at what I thought to be a private home with a batch of newborn pups. Later I found out it was really a "puppy farm." I picked her (or I should say she picked me) from inside a cardboard box, surrounded by squealing siblings with teary eyes and matted squashes of fur, all begging for attention. She eyed me quietly and drew me in by her lack of fussing. I know now that was her personal pattern of passive aggressive behavior. We rode home quietly with my 16 ounces of fluff hanging from my shoulder, fast asleep and breathing in my ear. When she wasn't sleeping, she was bouncing around like a rubber ball. To avoid stepping on her, I carried her around the house on my shoulder. My shoulder became her quiet place, her safe place, her happy place.

One day I returned home from work and found her in a puddle of blood and vomit in the middle of the kitchen floor. I wrapped her in a towel and rushed her to the vet. It was then I found out she was from a "puppy farm" and had not been cared for properly. She had been infected with Parvo which is a virus and usually deadly to little tiny pups like her. The vet said she needed to be quarantined and I could visit her daily. Each day I would come, walk through the pan of bleach solution to prevent introducing more germs into her environment, and we would visit. We both cried each time I had to leave. After about 10 days, the vet said there was nothing more to do. He told me to take her home and hope for the best. That was twelve years ago. She's still my boss today.

Eleven years ago, Buttons and I moved into our new home in Lomita Pines. We moved in the day after Christmas Day. We spent the day unpacking boxes - stacking them in each appropriate room. Buttons had a box too, a big box of puppy toys. I opened her box and left it on the floor in the family room. Later in the day, tired and sleepy I put Buttons on my shoulder and headed for the bedroom. As I past her box in the family room, I noticed it was empty. I was confused. I began looking for her toys, thinking I had dumped them somewhere by accident. As I went from room to room I noticed something peculiar. Every room had at least one puppy toy. Buttons was sleeping on my shoulder and I didn't want to wake her to ask the question, but I knew...she had made Lomita Pines her new home too!

Buttons and I would love to help you find a special home in Lomita Pines too, or any of the great South Bay cities. Visit our websites: www.yoursouthbayteam.com, www.lomitahomes.com, www.inthepines.com or call us anytime for a personal tour.

Welcome to Charlie's Neighborhood

2007-07-21T14:47:00.000-07:00

Greetings from Lomita Pines!

I first stumbled upon my little piece of heaven 11 years ago. It's now where I work and play and rest and rejoice! I was cutting through Lomita Pines one day to avoid some traffic snarls and low and behold I was beckoned to this Open House... The rest is history. Lomita is a Spanish name which means "little knoll." We refer to her as the "Little Hill" because we're attached at the hip in several places to "THE HILL" which is the Palos Verdes Peninsula. I guess you could say we're sort of a stepping stone to Palos Verdes. I liken my area to a fancier version of "Big Bear." I love the smell of the Pines and Harbor Breezes. We're actually the same distance from the Ocean (Redondo Beach) on the west as the Harbor on the east. You can bicycle from Lomita to the beach as easily as catching a helicopter to Catalina in the harbor (or a cruise ship - they leave most Friday nights as well as other times for trips to Mexico and most exotic places.) You can even hear the ship whistles blow when the breezes are right. We have our own library, fire station and even police force (actually the workforce portion is provided by Los Angeles County but we house them right here in Lomita.)

We just celebrated our 100th anniversary this year! Some of the residents seem to have been here since the city was established (well, maybe not that long) but demographics are changing and we're welcoming lots of new young families! It's a breath of fresh air, with larger lots, mostly custom homes (we don't have a lot of "tracts" in Lomita) and quaint "Mom and Pop" stores throughout the community. I'd be delighted to give you a personal tour.

Call me anytime and check my websites: http://www.inlomitapines.com/, http://www.lomitahomes.com/ and http://www.yoursouthbayteam.com/ if you're interested in seeing some of my listings and photos of my little town. Hope to see you soon!