Palos Verdes Real Estate

Real Estate General Info Category

July, 2013, Newsletter

Dear Neighbor:  As I said in my March newsletter, “it’s just a matter of time (and not much time) before rates rise”.  Well, that time arrived last week as you probably heard on the news.  30-year fixed rates on loans over $730,000 have shot up to nearly 6% from around 4% a month ago.  Though it may look high, 6% is still low by historic standards (my parents loan on Pleasant Hill Drive was 6.25% in 1963), and it’s a pretty...Continue Reading!

Why Your Escrow Won’t Close on Time

Escrows almost never close on the date scheduled which, if you don't do this every day, may seem strange.  After all, both parties signed an agreement that the escrow would close on a certain date.  Why doesn't it? There are a bunch of potential reasons, but here is by far the most common: The buyer's lender.  This is by far the single biggest reason for late closings.  It isn't that the lender doesn't have time to process the loan.  The problem is that, apart...Continue Reading!

May, 2013, Newsletter

Dear Neighbor:  Onward and upward!  Reasonably-priced homes continue to sell quickly, often with multiple offers.  Interest rates still have not moved upward, remaining at around 4%.  And lenders have begun making 95% loans again (5% down) – I think this is called amnesia.  One of the less-obvious issues we’re having these days is that of appraisals.  This is always a problem when the market is rising, as appraisers use closed sales (which, of course, are lower in a rising market) to determine...Continue Reading!

The Results Are In

In 2012, I ended up being the #1 Prudential agent in Palos Verdes and #4 overall in number of sales (including other brokerages) out of the thousands of agents that do business here. Now, you may say, #4 is no big deal but, if you read my stuff, you know that, unlike the other agents who do my level of business,  I do all this myself -- no assistants, secretaries, sub-agents, no foreclosure contracts with banks -- no nuthin'.  I do this because if you hire...Continue Reading!