Archive for January, 2009

Torrance Real Estate Market Recap for 2008

Monday, January 19th, 2009

The final numbers for the Torrance real estate market in 2008 are in and although it was a tough year for home sellers there were some interesting market developments towards the end of the year that may indicate a brighter 2009 for sellers.

According to the South Bay Association of Realtor overall sales for the year were down 15% compared to 2007.   The month of December saw 68 sales (singe family homes, condos/townhouses, and residential income) down from a 2008 high of 109 sales in August.

Torrance Real Estate Sales for 2008

Torrance Real Estate Sales for 2008

Manhattan Beach Real Estate Market Recap for 2008

Monday, January 12th, 2009

The final numbers from the South Bay Association of Realtor for the Manhattan Beach real estate market in 2008 reveal just how tough a year it was for home sellers. The year started with a less than stellar 14 home sales (single family homes, condos/townhomes, and residential income) for the month of January and ended with 14 sales in December. November was even worse with only 13 total sales. If you were looking to sell summer was definitely your best bet as both June and August produced 38 sales and July saw another 31 homes sold.

Manhattan Beach Home Sales for 2008

Manhattan Beach Home Sales for 2008

Open House This Sunday Jan. 11 at 5312 Doris Way, Torrance

Saturday, January 10th, 2009

Sunday January 11th we’ll be hosting an open house to the general public as well as agents at 5312 Doris Way in Torrance. Built in 2007 this beautiful home features ocean and city views as well as a huge private backyard. As an added bonus the owner’s just dropped the price to $1,099,000 to ensure a quick sale.

5312 Doris Way, Torrance, CA 90505

5312 Doris Way, Torrance, CA 90505


For further information or to schedule a private showing call Hady at 310-404-5631 or go to 5312 Doris Way to schedule a showing online or click South Bay real estate listings to view the entire inventory of homes available for sale in the South Bay.

2008 South Bay Real Estate Brokerage Recap

Saturday, January 10th, 2009

In 2008 Shorewood Realtors remained the top brokerage in the South Bay with 967 total unit sales (single family homes, condos/townhouses, residential income, and land/lot) valued at $1,088,259,000. Both figures topped all South Bay brokerages.Remax Palos Verdes Realty was second in both categories with 778 total sales valued at $783,913,000.

South Bay Brokerage Results 2008

South Bay Brokerage Results 2008

Overall the sales for the Top 18 South Bay Brokerages dropped dramatically in 2008 compared to 2007. Total unit sales were down 18.3% in 2008. Of even greater significance was the 33.3% drop in total dollar value of all properties sold in 2008. Although 2008 was without a doubt a trying year for South Bay home sellers there was some good news in December.

Good News for Potential Home Buyers and Troubled Home Owners

Friday, January 9th, 2009

House Financial Services Chairman Barney Frank said that president-elect Barack Obama agreed to increase the upper limit on loans that Fannie Mae and Freddie Mac can purchase to $729,750 in high-cost areas. Known as conforming loans, Fannie Mae and Freddie Mac owned loans provide funds to borrowers at the lowest market rates.

5312 Doris WayThe normal limit on borrowers for conforming loans is $417,000 but in expensive markets it was $625,000. The new limit only applies to the real estate markets that fall in the expensive designation, loan limits in all other markets will remain at $417,000. Last year in order to try to stimulate the moribund high end real estate market a temporary limit increase to $729,750 was enacted but that expired December 31, 2008.