Category: Torrance
The city of Torrance has without a doubt, some of the most unique and beautiful residential areas of any other city in the Los Angeles area. You can find upscale estate type single family homes, more traditional homes in traditional all American neighborhoods, sitting on tree lined streets, hillside homes... Read More
Downtown " Old Torrance " is still one of the South Bays best kept secret places for many who live here and for those out of towners too. In the early 1900s, what is known today as Old Town Torrance was the hub of all shopping and hub for travel for the entire South Bay area. In those days when you wanted to go somewhere fast, you would hop on a "Red Car", and take it to downtown Torrance for your shopping needs, or go on into Los Angeles or other cities for just about anything you wanted. The "Red Car" was part of the advanced rail system that centered in L.A. and had spurs that linked with just about every major city in Southern California. That was long before the freeway system that we have today. In fact, it was the freeway system that ended the long life of the Red Car Lines and all of the fast rail connection system that Los Angeles used for years and years, and, very successfully too. Today we seem to be returning to an almost identical rail system that we had in place way back in the early 1900s. Residents of all the beach cities would come to Torrance on the Red Car to do most of their shopping and Torrance was then the center of all of the activity in the South Bay. Today, Torrance draws thousands to it's now famous "Torrance Antique Street Faire" which is open on the 4th Sunday of each month, drawing almost 200 street vendors to the city to sell their goods. Vendors with antiques, collectibles, arts & crafts and/or quality used merchandise are welcome. This Street Faire draws people from all over Southern California to Downtown Torrance each month, and has consistently been voted 'The Best in the South Bay' by the Daily Breeze newspaper's annual reader's poll. The Street Faire opens to the public from 8 AM to 3 PM, with an appraisal booth that opens at 9AM until 1PM. Rain or shine, the Street Faire will go on regardless of weather conditions. Read More
The Torrance Rose Float Association is having a weekly fundraiser. So if you are hungry on Thursday night, check out the link and see which restaurant you can go to and make a donation to TRFA! http://www.torrancerosefloat.com/fundraising.html Read More
Our award winning float Had the time of my life riding on the Torrance Float at the Rose Parade. It was an honor. ... Read More
If you have a Bank of America loan …and are considering a HAFA Short sale … here are changes to the process … In a HAFA Short Sale, the borrower/home owner, may be eligible for a $3000 moving credit at the close of escrow. Read More
There are several types of mortgage lenders for those who are seeking financing for either buy a home or refinance a home. Each type of lender has its advantages and dis-advantages, but anyone getting ready to buy a home, or refinance their home, should be aware of the financing options that exist in the real estate market today. Most all lenders who do mortgage loans are going to require the same application package from the borrower, and accompanying documents as most loans are sold by the lenders to Fannie Mae or Freddie Mac, so all mortgage financing requires the same paperwork and borrower qualification standards. 1 BANKS Advantages: Regulated by state and federal agencies Current banking relationship can get you a reduced mortgage rate Numerous branches provide you with face-to-face access Disadvantages Limited to products only the bank has to offer May not have the best rates May lack negotiation leverage when it comes to publicized rates 2 MORTGAGE BROKERS Advantages Access to a variety of mortgages and lenders Can save you money by shopping for the best rates Can quickly find another lender if your loan initial application is turned down Disadvantages Some function as the lender's agent and have the lenders best interest at heart Free to set their own pricing and may mark-up wholesale rates to whatever they want Service may vary from broker to broker 3 HOME BUILDERS & REAL ESTATE DEVELOPERS Advantages Good way for the first-time home buyer to qualify The buyer does not take title to the property until the home is completed Disadvantages May favor certain lenders who offer higher rates Can pressure you into getting their loan instead of using a different lender 4 INTERNET LENDERS (ONLINE LENDERS) Advantages Allows you to shop for competitive rates online Disadvantages A greater learning curve for the borrower to understand the lending process The most common source of home lending is a retail financial institution, like a bank or credit union. They offer specific loan products and handle their own direct financing. Mortgage Brokers, act as the loan processors, taking care of everything needed to get the loan funded, like ordering appraisals, getting credit reports, opening escrow, and other details. Mortgage Brokers don't fund the loans themselves, but handle the mortgage financing arrangements for the borrower. Most Brokers earn their fees (called points) from the lender, and in some cases from the borrower also, or a combination of both. Since mortgage brokers have access and work with a wide variety of banks, credit unions, and other sources of financing, they are usually on top of the latest rates, fees and lending practices, and know who has the best overall mortgage loans to meet each individual loan requirement. Mortgage Brokers also know which lender will best match the borrowers financial qualifications. Home builder, or home developer financing is common in new home developments where there is a single builder. The builder carries the construction costs until the homes are built and are ready to be sold and permanent financing put in place to pay off the construction loan. The builder works with a lender to set-up financing for the buyer and finances the construction costs. The buyer doesn't make mortgage payments until the home is completed and bought off by the building department, and approved as complete by the construction lender. Read More
People make a decision to purchase a home or piece of South Bay real estate without any consideration of their ability to be able to make mortgage loan payments in case of an emergency or a major life change like an illness, loss of employment, divorce, or other unforeseen circumstances. The top three reasons people file for bankruptcy are change of job status, divorce, and unforeseen health expenses. If you face any of these challenges and don't have a financial cushion like some money put away, this may negatively impact your ability to pay a mortgage. Big life events dictate your readiness to buy now or to wait for a little more stability. Some signs that you should not buy right now: Will you be moving within the next five years? Are you planning on having children soon? Will you be making a job change? (or maybe you don't know) Have you recently filed for bankruptcy or is your credit score below 630? If you answered yes to any of these questions, or you are experiencing other life-changing events like illness, marriage, divorce, or breakup, you may want to wait until your life and finances stabilize better. Aside from life events contributing to your decision to buy a home, getting your financial house in order before you begin your home search is the key. Even with all the programs available for buyers with a low-or-no down payment, if your debts are growing steadily and you don't foresee an increase in your income, you are putting yourself in greater financial risk by taking on a mortgage. With few exceptions, most loans for people who are still repairing their credit or recovering from bankruptcy will always carry higher rates than those available once your credit is in better shape. So the question comes down to this: Do you buy now, before prices appreciate higher than you can afford, but do so with an expensive loan? Or do you wait and repair your credit, then get a favorable loan, and pay more for your home? These are questions that a good financial counselor or mortgage broker can help with. Don't be in a rush, after talking to a good Realtor, and a mortgage broker or lender, go to some open houses to start getting a feel of whats available and the prices, etc. Talk to a mortgage broker about getting preapproved for the amount of your loan. Remember that your Realtor and mortgage broker can explain details of all the mortgage loans that are available. Go over your credit report and your credit score with a broker and make sure that there are no problems that will come up later in the process. Talk to other homeowners and also talk to people in the neighborhood you are interested in, and get their inputs, the good and bad. Keep an open mind and soon you may be in that new home you have been dreaming about. Read More
Its that time again….Daylight Savings Time Ends and the rush of Holidays Begin. To make sure that your finishing off your year strong I’ve included the following 15 ways to manage your day effectively. Make it a great one!! Fall Back! This Sunday at 2 AM... Read More
Unless you are looking for a single family home, or a home in a particular area like the beach, Torrance has a selection of senior housing like no where else. Condos, town homes, and beautiful apartments are just waiting for discriminating senior to come and experience the new and... Read More
Most people look at corner lots as a plus, however even though you might get a bigger sized lot for the same price, it might not be what you want in the long run. There is more upkeep and maintenance as the total front yard area is usually much bigger. On the other hand look at this Torrance Home for sale, It sits perfectly on a corner lot on Maple Ave. There can be the problem of people using the sidewalks on either side and then cutting across the yard. Traffic noise could be much higher due to having a home basically on two different streets, however if there is stop signs then it might be less. Corner lots are not preferred by people who have young children as they usually would rather have larger backyards for the kids to play in. You could have more parking on a corner lot. The lot is much larger. You would only have one neighbor on the front side instead of two. You would usually have more unobstructed views out your windows. Corner lots allow more light to come into the home. It really comes down to your own preference and the corner lot and home itself. There are pros and cons and each situation has to be looked at individually. Price of course will play a big part in the consideration. Read More