Construction May Affect Your Commute In MB

Construction May Affect Your Commute In Manhattan Beach - Manhattan Beach, CA Patch MANHATTAN BEACH, CA – Scheduled street construction may impact residents, businesses, and commuters within the next couple of months. The Contractor, Excel Paving, will be working to resurface the following streets: Manhattan Beach Boulevard, between Sepulveda Boulevard and Aviation Boulevard Redondo Avenue, between Manhattan Beach Boulevard and 11th Street 10th Street, … [Read more...]

Inglewood, CA Pins Hopes for Commercial Revival on L.A. Rams

At Posh Klipz, the barber and owner Sonny Wells points to a framed photograph of Magic Johnson, sitting for a haircut in his shop two decades ago. “That was my best client,” Mr. Wells says. Eventually, Mr. Johnson, a longtime Los Angeles Laker, stopped frequenting Posh Klipz, going for the shaved look instead. Chairs really emptied at the barbershop, though, in 1999 after the Lakers and the National Hockey League team the Kings left the Forum here, Mr. Wells said, and moved to the Staples … [Read more...]

Local Home Prices Continue to Rise

The median price of a home in Los Angeles County rose by 7 percent in December, compared with the same month a year ago, while the number of homes sold jumped by 3.5 percent, a real estate information service announced today. According to CoreLogic DataQuick, the median price of a Los Angeles County home was $460,000 last month, up from $430,000 in December 2013. A total of 6,459 homes were sold in the county, up from 6,240 during the same month the previous year. In Orange County, the … [Read more...]

Mortgage Rates Hit 20 Month Low as 30 Year Loans Drop to 3.73%

Worries about economic troubles in Europe and Asia have sent mortgage rates plunging to a 20-month low, with Freddie Mac saying the average rate for a 30-year conventional loan fell to 3.73% early this week from 3.87% a week earlier. The average rate for 15-year fixed home loans, popular with refinancers seeking to retire their housing debt, averaged 3.05%, down from 3.15% last week. The starting rates on adjustable mortgages were slightly lower as well, Freddie Mac … [Read more...]

Average 30-year mortgage rate rises above 4%, says Freddie Mac

Moving higher for a second week, the 30-year mortgage rate broke back above 4%. Freddie Mac calculated that lenders were offering the most popular home loan at an average of 4.02%. Rates rose for other loan types as well. Freddie Mac said 15-year fixed mortgages were averaging 3.21%, up from 3.13% a week earlier, and the start rates on adjustable loans edged higher. The widely watched survey, released Thursday, had shown the 30-year mortgage below 4% for the three prior weeks, bottoming … [Read more...]

Manhattan Beach Secures No. 2 spot in Top 10 Best Cities to Raise a Family in SoCal

Manhattan Beach is among the top ten cities to raise a family in SoCal, according to the financial site CreditDonkey. The study only considered cities with a population of 25,000 or higher; it based the list on education levels, commute time, household type, residency and housing costs. The study focused heavily on education, with rankings reflecting the cities with the highest percentage of adults who earned a high school diploma or better. Overall, the more educated residents are, the … [Read more...]

Mortgage rates drop a notch; 30-year averaging 4.2%

Mortgage interest rates eased slightly this week amid mixed housing data, with Freddie Mac's survey showing that lenders were offering 30-year fixed-rate loans to well-qualified borrowers at an average of 4.2%, down from 4.23% last week. The average rate for 15-year fixed-rate home loans edged down from 3.37% to 3.36%, while the start rates for adjustable loans with the first five years fixed rose to 3.08% from 3.06%. Frank Nothaft, Freddie Mac's chief economist, took note of the mixed … [Read more...]

American Real Estate’s Future – What the Experts Are Saying

The real real estate revolution has yet to happen. Over the past 10 years, we have witnessed an unprecedented rise in real estate prices, a housing crash, the near-total freeze of lending for residential real estate, and a recovery in housing prices that occurred almost as quickly as the preceding crash. But the real real estate revolution has yet to happen. At the Bipartisan Policy Committee’s Housing Summit in Washington this week, everyone from policy makers, to home builders, to … [Read more...]

What Home Buyers & Sellers Should Know About Appraisals

When it comes to real estate, the appraisal is the linchpin around which all else revolves. Both buyers and sellers are in a holding pattern until the appraiser arrives at the property, looks it over and comes back with a figure for what he thinks the place is worth. Such is the case whether the property in question is a single-family house in the suburbs or a $200-million office tower in the city. "Nothing happens in real estate until the appraisal report is signed and an opinion of the … [Read more...]

Thinking of Buying an Investment Property? Here are a Few Tips!

With interest rates still at historic lows and property values depressed many savvy investors have been buying investment property during the last two years. Even though properties are now appreciating again it’s not too late to get into the investment game. Here are a few tips that might help.   Buy what you know If your comfort zone is a single family home consider that. If you have some knowledge of multi-unit or commercial the upside is bigger but so is the … [Read more...]