Lynne Pope

The awakening of the first time buyer has been cautious. There was a surge in April and early this month in home buying. The misleading fact of 1/2 of all sales have been REO or bank owned in our state is one thing but the south bay beach areas have few bank owned properties. The slowdown and lending crunch has affected prices. We have higher inventory and it takes longer to sell properties and there are price reductions that have to be factored in. The other BIG and GOOD factor is that these homes are a short drive to the beach. The glorious Pacific Ocean! This week we toured a new Bank Owned listing on Perkins in North Redondo Beach. We were excited that it was under 700K. Every agent that went on our agent thought it was a great deal. The interesting thing is that some of the listings have had to price accordingly. The new listing coming up down the street that is similar is in top condition, it is also in a block that has a preferred school district for higher performing student test scores. It will be priced slightly more than the bank owned for those 2 reasons. This is actually why some people are buying the other homes sometimes before the bank owned ones. Investors and out of the country buyers are out buying more than one property at a time. They LOVE LA! Canada, Korea, and Japan, residents, that I have met are visiting and buying.
I have a listing in Torrance with value built in of over 80K in upgrades. The electrical, plumbing, new windows and roof make it more desirable than a similar home without those updates. The sharp first time home buyer today is educated in real estate values and prices. They shop the internet and visit open houses.They don’t have to be told to get a lender although they may need to get an update from the lender they have on a regular basis. The rates are still fantastic.
bank owned Beach first time buyer preferred school district real estate values Redondo Beach reo student test scores Torrance

Impressive information is always at Inman News. The latest article on REO’s is a must read for everyone in todays market. http://www.inman.com/buyers-sellers/columnists/berniceross/represent-reos-with-caution 

Inman gives 4 areas to be careful about as an agent.

Remember agents when Banks tried to become Realtors?

 About 5 years ago I saw a letter that came out from a Bank and was quickly withdrawn.

The REO situation has placed the Banks in the latest quicksand world of service. They have few skills to help them in an undertow of paper, people and crisis.

“Join Inman and read the real world in Real Estate.”

Feel pleasure in small things- a beautiful strawberry shaped like a heart.

The last thing Realtors ever want is for someone to lose their home. Pause and remember -This time too, shall pass.

OLYMPICS!    175  of  600 Athletes call

California-

Home-

Locals in 4 cities ~Keri Walsh  of Hermosa Beach- Kerri Walsh and Misty May are coached by Troy Tanner who stresses fundamentals. Sean Rosie Rosenthal –volleyball and Brenda Shinn- shooting - Shannon all from  Redondo Beach

Nichole Branaga from Torrance team Volleyball.  

Palos Verdes  sports Merrill  Moses -water polo plus  Lindsay Davenport -tennis from 1996 Olympics.

Times to remember 8-11-08 women volleyball starts and Men will plan Thursday Aug 21- women’s finals Friday Aug 22.

Funny word “Fun dame” in fundamentals.  We have fundamentals in every walk of life.  In Real Estate we are back to it. So here I am bragging in my southern accent about the

South

Bay. Some South!   Talents  to be cheering for,  interested in moving your talented athletes to LA? COME ON!

Hermosa Beach Olympics from South Bay Palos Verdes Redondo Beach Torrrance

Its a small small world. California is always the place to go when you have won lost or drawn and I say ”Disneyland” is the final cure all. Graumans can put your feet and hands in cement. The wax museum will have you out in the lobby before the first snow hits Washington.  N. California is trying to beat S.California to the punch. The White house of Sacramento, San Francisco or San Jose- has nothing on Orange County. http://3oceansrealestate.com/blog/ read his article on Condi

The prices are ripe for the picking!

From Disneyland you can be the featured speaker for any play you want.

Condi and the Chipmonk - thats a cookie friar, and they are only friends.

And THEN..the TRUTH comes out. Its so obvious. Condi is  going to VEGAS! Why else would George W Bush make a strange, unsolicited gestrue _ that typo is so…funny I have to leave it in…Another word..

for gesture. When methinks its much ado about nothing…the gestrue is there to say this gesture is true. The irony is that it is in fact not true. Get it? No matter the question will Condi get it…in Vegas, or N. California if Kevin gets “His Way” or Disneyland- the greatest little spot on earth.

Lets start a poll. Where will Condi move?

The O.C. is unlikely now that you can get so much house there they had to drop the TV show. It has to be Vegas!

First time buyers in VEGAS get a big tax break. Its a set up for Condi. I just found out about it -tonight-from a neighbor moving there. So its good a few others can share in the deal. Its also a clever mask to get some of those darned foreclosures and dry lawns off the radar. Its just not presidential. “Leave it better than you found it.” I heard that.

Vegasm… I keep making funny typos…another new word…When Bush is vague…its a vegasm. Do not type after midnight if you are a true geek. I am becoming a bit vege myself.

Condi Rice Sacramento San francisco San Jose Vegas