Lynne Pope is your Realtor in Hermosa Beach, Manhattan Beach and Redondo Beach

What is this? With the whole world looking for a good deal the mortgage industry created one too. Its the red tag sale, Presidents day, Mothers day, 4th of July all rolled into one consistant sale… WHOLESALE.

Too good to believe? Too good to be true?  Check it out. I have a whole page devoted to it. Look across the top of the list of pages and go see it for yourself.

 I now have 3 in escrow using this wholesale mortgage and it is working out to save so much in costs…closing costs. On a 600K home one lender fees tucked into the total  closing costs looked like 14K. The wholesale lender fees tucked into total closing costs for the buyer is 9K.  Thats the truth the only difference was in the fee of the loan, all the other closing costs numbers remained the same.

Feel free to talk to me about it. The lender is working on my South Bay purchases for buyers in Torrance and Gardena, as well as Los Angeles. One is a bank owned, the other 2 are short sales. It makes no difference even a normal sale will do. I haven’t seen too many normal sales…lately. Have you? I love your questions and comments.  Everyone deserves a pot of gold at the end of the rainbow. This is ours.

Having a listing in Gardena has been a training ground for REO and Short Sale properties.

But know this…the offers are starting to come in after a long dry spell.

Is it spring? Is it the awareness of the buyers that interest rates will rise?

The news is news….multiple offers are out there right now…and it is bumping up the numbers on the offers. 

City Overview
GARDENA
Real-Time Market Profile
Trend
THIS WEEK
Median List Price
$ 319,000
The median single family home
Average List Price
$ 331,149
price in GARDENA this week is
Least Expensive Listing
$ 129,900
$319,000. The 131 homes have
Most Expensive Listing
$ 659,000
been on the market for an
Asking Price per Square Foot
$ 246
Average Days on Market
160
average of 160 days.
Total Inventory
131
Absorbed This Week*
13
Percent of Properties with Price Decrease
37 %
Percent Relisted (reset DOM)
15 %
Percent Flip (price increased)
3%
Median House Size (sq ft)
1,310
Inventory has been tightening and
Median Lot Size
4,501 – 6500 sq ft
days-on-market decreasing
Median Number of Bedrooms
3.0
Median Number of Bathrooms
2.0
recently. The Market Action Index
Median Age
57
has been basically flat, not
Altos Research Value Statistics
providing strong indication for
Market Action Index
Cold! Buyer’s
16
market conditions.
Altos Research calculates the Market Action Index which measures available supply
relative to the current level of demand. Index value above 30 indicates conditions favor
the seller. See the section below for full details.

The South Bay Board of Realtors offers an annual Mayor Breakfast meeting. This year the main theme was Transportation with aging sewer systems coming in a close second. These 2 are always related as to repair one the other stops.Seriously- In Palos Verdes the main issue is “aging sewer” systems as it can cause the caving in of streets. They are combining new concepts such as  re-pipe with liners inside the crumbling remaining pipes. Its an expensive issue and also a  mess. Call it the lawsuit starting to happen. Importantly- you can’t leave Palos Verdes without going through one of the towns in this report. The transportation issue affecting the following areas; Torrance, Gardena, Carson, Lawndale, Lomita, Hermosa Beach, and

Redondo Beach mayors were there. The growth and demand was being handled differently.

Redondo Beach is voting to limit growth in the upcoming months. Carson and

Gardena are putting tons of money in freeway access.

Top 10 issues surprise!1. Transportation45% of all the NATIONS goods go through

Port of

Long Beach and

Los Angeles.  (Please pause and see this)That means transportation out of the ports on our local streets and rail. Check out port information anytime http://www.polb.com/

2. The State has not and my not be receiving the funds allocated to arrive. The elected officials have to fight to get it.3. Aging sewer systems. All built at the same time and falling apart at the same time. mostly the 1950′s The big growth after the War.4. The cities don’t all work together. WHY? Because…Some have Union issues separating, some have State and City money and some do not as independent charter towns.5. They do talk to each other and TRY to work together when and if possible.6. The States gives mandates…that the cities don’t have money to follow.7.

Lawndale has money. Try being a city manager without funds -most of the other cities didn’t have enough.8. The war cost to our Country and the fact that we were fighting it alone.  Paying for local support over there is helping. (details on another blog) 9.The mandate to auto builders to create less gas dependant vehicles

10.

Schools and Health care are not high on the radar of our cities as nearly 1/2 of the Nations supplies and the Transportation of goods across our local roads crush our streets over the aged sewer system.As we grow so does the ….to hit the fan.  Did I say that?????I need to mention the word Brown Fields. (Environmental, automotive related waste) another blog to be written.