THE MARKET AWAKENS

Nothing stays the same forever, especially the real estate market.  Just like the stock market, what goes up eventually comes down and so goes

the circle of life. 

This month we've seen some great improvement in South Bay home prices.  We're slowly moving away from the Foreclosures and Short Sales (although we still may see more to come from the "shadow inventory" some of the banks are holding.)  Meantime, we're holding our breath - anticipating a interest rate hike - long overdue.  A lot of folks are still not convinced that now is the time to roll out their plans for moving into bigger homes or selling the family home which they've outgrown for something more manageable.  I suggest that NOW is the time to start moving forward.  We have a perfect blend - lowest interest rates in history accompanying comparatively modest home prices.  If you are trading up, the money you save on your "up leg" will more than make up for any lag in increased value for your present home.  It's all numbers. 

I'm sending out Market Update Profiles to all my clients over the next few months.  If you're not in my current database, call me and I'll do the same for you.  My job has always been to provide information so you can make an intelligent informed decision.  That starts with looking at the big picture and narrowing it down to how it will play into your life and family plans.  My husband teases me with my own mantra ... if you fail to plan you plan to fail!  We are now in a transitioning market.  Take advantage of the window and watch how these changes play into your goals and dreams. 
Of course, I can help you visualize and project whatever you have in mind.  Then when you're ready to move forward, I can help you make it all happen.  That's my job - your Real Estate Consultant For Life and all it brings...

Meantime, I have a little girl looking for a "forever" home.  She's a sweet 4 year old English Bulldog.  She plays with all my dogs (and cats) and has taken up a post as the best watchdog ever to earn her keep.  She needs someone who will walk her (she loves walks) and give her some attention (not that much but a little.)  She will return those favors ten fold.  Let me know if you or someone you know would like to adopt this wonderful companion pooch.  It's good Karma you know - doesn't hurt to pay it forward. 

Have a great month and please feel free to call me with any of your real estate questions. I'm here to help. 

Charlie :)
Team South Bay Realty
24214 Hawthorne Blvd. Suite B
Torrance, CA 90505
310-378-4440

SPRING HAS SPRUNG

and our Market Is On The Move!

4000Newton.com
 

Everyone is wondering what the 2013 real estate market will deliver.  So far, it looks like we have definitely bottomed out and are seeing significant increases in pricing in some areas already.  Some sellers are reluctant to put their homes on the market, worried they won't be able to get their price.  Of course that means fewer homes for sale and the competition can be fierce in the lower price ranges.  The sellers looking to move up in the market will benefit even if the pricing hasn't met their expected levels for their home sale.  The difference in purchase price on a higher value will make up for the lower sales price in most cases. 

Another important issue this year is interest rates.  So far we are still seeing the lowest rates in history for mortgage money.  That will change.  As the interest rates begin to rise, prices will be affected as the affordability for buyers will change.  Right now, we are even seeing 100% loans back in the market.  Unbelievable opportunity for financing right now if you have decent credit (FICO scores in the mid-600 range plus) and verifiable income.  Even those with distressed credit from previous short sales can benefit (must be longer than two years since recorded sale) as long as they have kept their spending to a minimum and paid all their accounts on time.  The financing is out there for everyone from first time buyers to jumbo refinances - take advantage while you can.

Some Fun Facts About the Market*

Who's Moving In The Next Two Years? 

48%  18-34 year olds

26%  35-49 year olds

16%  50-64 year olds

10%  65 and older

 

 

Team South Bay is looking for homes for our South Bay buyers!  If you are thinking about moving up or downsizing please give us a call.  We'll prepare a full market analysis for your home and neighborhood free of charge.  We also have a list of Income Property Buyers too.  Let us help you take advantage of this HOT real estate market. 

 

 

p.s. Dyna says the South Bay is

Heaven on Earth and we agree! 



*courtesy of the Demand Institute 





TEAM SOUTH BAY ADDS A NEW FAMILY MEMBER!

September 2012 News

After decades of home delivery of our Newsletter to thousands of homes, starting October 2012, Team South Bay News is going GREEN!  We've been encouraging everyone to update their email addresses so we can send our Newsletter directly to their box each month.  You can send your updates to Charlie, Team South Bay Realty (dot com)

Another News Item...

Charlie Hoffmann & Rod Russell  "Tied the Knot" on the bow of the Lady Hornblower in Marina Del Rey last month.  Marilyn North, the bride's sister, performed the Nautical Nuptials and Anne Antletz was the Maid of Honor.  A small family affair, everyone played a part and some guests said it was the best "party of the year."  Here are a few pics... 




Marilyn Marries Her Sister



And, If You EVER Do Anything To Hurt My Sister....



Sis and Little Bro

To Dah Boat To Dah Boat...



All Over But The Shouting



The KISS

Best Man Holds Court

First Dance






















My Fabulous Florist and Maid of Honor (and Dan too)



Thank You to My Wonderful Friends and Family for all your help and support.  And Thank You to my Amazing Husband who is "steady as she goes" through all manner of weather 

Love You all ...mean it!  :)

New Dog In Town!

All my friends know that Annie (my neighbor down the street, who is 85 years old this year and spry as a Spring chicken) and I walk my dogs every morning.  Annie is on my porch at 6:00 a.m. (which we refer to as O'Dark'30) and you can set your watch by it. We've been doing this for years now.  This keeps us both in shape and accountable to each other.  We walk 7 days a week, unless it's raining.  Each day is a new adventure for us.  We never know what to expect.  There is all manner of nocturnal life moving about at that hour.  We've had a few unusual encounters.

A few weeks ago, as we were getting everyone leashed up on the front porch, an additional nose was poking through the porch gate.  It seems that all stray dogs in my neighborhood show up at my house at some point because they are attracted to my Great Pyrenees, Dyna.  She's sort of the matriarch of the hood.  So, that didn't surprise me much.  Annie arrived and we started our walk with the new dog,  Our new guest didn't have any tags at all.  That's unusual.  When they do, we call the "parents" and escort them home.  "Buddy" which we began calling him, seemed perfectly content to just walk with us, enjoying our normal early morning frivolity.  When we returned, all the dogs headed inside for their morning breakfast - including Buddy.  He was not interested in going anywhere else. 

I posted flyers, checked the websites, called the neighbors and took Buddy to the vet to scan for chips.  Nothing.  A neighbor mentioned seeing someone let a dog out of a van in the early morning and the dog looked confused and afraid.  He thought it looked like our Buddy.  As a Realtor in this market in our times of economic downturn and confusion, I see a lot of animals abandoned.  Cats left in vacant homes to fend for themselves, dogs left chained in yards with no food or water.  Now some families who can no longer care for their pets have been dropping them off in good neighborhoods, hoping some family will adopt them.  The shelters have reduced the time between drop off and euthanaisa, which is also sad, but I digress. 

Anyway, Buddy has decided that I'm his new Mama.  He's a true "Heinz 57" variety pup.  Looks like a cross between a Beagle, a Dalmation with maybe a bit of Lab or Setter.  He has these big liquid brown eyes that follow you everywhere. He wags his tail as soon as you turn your head toward him. He gets along with all the animals, including my three recently adopted cats.  You can leave the gates or doors open and he justs sits down and waits for someone to notice.  He's moved in!  If you or someone you know has lost this wonderful dog, please let me know.  Otherwise, I guess three dogs and three cats are still manageable.   Buddy seems to be a special messenger that has chosen our family and me in particular, for which I feel very blessed.  My friend Ray, who is an artist, painted a beautiful painting which is hung in my office.  It's called The Messenger.  Ray says, sometimes in life we are the message and sometimes we are the messenger...makes sense. 

Charlie Hoffmann (Mother of six furry children)
Team South Bay Realty

NEW WALTERIA OFFICE

Team South Bay Realty just opened a new office in Walteria (Torrance) on Hawthorne Blvd.  24214 Hawthorne Blvd. to be exact - Suite "B"   We're the only office on the "Gateway to Palos Verdes" area of Hawthorne Boulevard with a private balcony and beautiful view of the Walteria hillside during the day and lovely sunsets every night.  Join us for a cup of coffee on the way to work or a glass of wine at sunset at the end of your long day.  We're your Real Estate Agents For Life!  Let us help you with all your real estate questions and challenges.  If you call ahead, we'll bring the cookies too.

310-378-4440 or visit us online. 

SHOULD MOM AND DAD CO-SIGN?

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

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!