Tag Archives: Real estate

Facelift for Peninsula Center in Rolling Hills Estates

The Rolling Hills Estates Planning Committee has approved the $12 million Peninsula Center remodel shown in this artist’s rendition. Continue reading

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How Many Agencies are Involved When You Purchase a Home?

I am a first time buyer and am confused about many aspects of the buying process in California. Just how many different agencies are involved when you purchase a home in this state? There are 5 different Companies you will be dealing with, each having a very important part in the transfer of property. Your Realtor-what is referred to as a buyer’s agent Appraiser- An appraiser is licensed under the state real estate commission who evaluates the house and property that is to be purchased for the Lender. The appraised value of the house is what the lender will go by for the mortgage loan. Home inspector- An inspector is usually a building contractor or specialist. This inspector should be hired by you, the purchaser, to “inspect” the structure, plumbing, electrical and roofing to insure that the house being purchased is in good working and safe condition. Mortgage Lender- this is either a bank or a other lending institution who will carry the loan(Trust deed) on the property. Escrow officer-A third party who holds any money transfers in a trust account until closing and gathers all pertinent documents concerning the property. Traditionally, the Escrow Company is where you will sign all the documents and close the deal. Title company- does a search of the property for any liens or other encumbrances. They insure that the property’s title is “Clear” Continue reading

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Real Estate Sales Up in 2013

According to the National Association of Realtors homes sales in 2013 were the highest level in seven years.

Sales totaled 5.09 million, the best performance since 2006, when sales totaled 6.48 million. The median price of an existing home rose 11.5 percent last year to $197,100, the highest in eight years.

This is more proof that our real estate market is on the upswing and all is getting healthy once more. Continue reading

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Foreclosures Down Sixty Percent in SOCAL

According to Gregory J. Wilcox of the Los Angeles Daily News, there is good news for the real estate market as we look ahead to 2014. Foreclosures were down a full 60% all across Southern California in 2013’s fourth quarter. This is another indication that the housing market continues on a upswing. swingingsold

“In 2013, we got a better economy and a housing market that is much improved. Overall, this is good news as we look ahead to 2014. Still, the housing market will bump into supply constraints, and interest rates — still close to historical lows — are on the rise,” said Robert Kleinhenz, chief economist at the Kyser Center for Economic Research in Los Angeles.
As we enter into 2014 we will see more and more evidence of the healing of the realty market. Continue reading

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Do I Need to Spend the Money on a Home Inspection?

I know that it seems like all you are doing is putting out money and you do to even own the home yet. But this is a must do expense. I do prefer that clients use their own inspector so they are totally comfortable with the results. The best thing to do is ask friends and acquaintance for recommendations. Be sure you get references from the Inspector and check them out. You want a licensed and certified master inspector.

This cost you a few hundred dollars, but is well worth the money. You could negotiate with seller to see if they will pay for the inspection. After all it is their property they are trying to sell to you as your dream home. Lets make sure it is not a money pit. Below are the area of the home inspection.

Structural Inspection
Roofing and Exterior Inspection
HVAC, Plumbing and Electrical Inspection
Interior Inspection
Insulation and Ventilation Inspection
Insist the property is inspected for dangerous molds.

Be sure a get a copy of the report and keep it for your records.

Continue reading

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