Hello Again,
I am Lee Williams with Keller Williams Realty and here is your question of the day.
With the low interest rates and low home prices. Sebastian wrote: Should we rent or buy our next home in Palos Verdes?
Each situation is unique but we can take a look based on average cost of each.

To see the home you can afford for $1,160,000 in Rancho Palos Verdes and Rolling Hills Click Here

First: there are 63 homes currently for Lease in Palos Verdes with the average rent being $4,552

If we take that rent of $4,550 and put it towards a mortgage at 4.25% we could afford a mortgage amount of $925,000

If you have 20% down that means a purchase price of $1,160,000. Less if you have less of a down payment. And there are lenders who are approving loans with as little as 3.5% down.

So I guess the real question is what can you get for $1,160,000 in Palos Verdes. You’ll have to click the link below to see what we have for you today. Or you can visit http://LosAngelesSouthBay.com to search for homes all over the Los Angeles Area.

If you are curious about the tax benefits of home ownership please contact a reliable tax consultant.

We welcome your questions and the opportunity to help you find your next new home. Give us a call today.

Rancho Palos Verdes Real Estate

If you are moving to Rancho Palos Verdes and would like to buy or rent your next new home, you’ll want to know which neighborhood is best for you. Compare schools, restaurants, crime rates and real estate prices online in one simple step.  Visit http://LosAngelesSouthBay.com and click Market Insider for more info.

Edit

Did you know that staged homes typically sell for 1% higher than non-staged homes?

That means if seller spend an average of $1,500 on staging; then on a $900,000 home in Rancho Palos Verdes staging can result in a $7,500 return on investment at closing.

Add that to the fact that staged homes have more appeal to buyers and typically sell faster.

Consider it money in the bank and time well spent.

Keller Williams Palos Verdes Realty, Red Day

Give Where You Live, May 12^th, 2011

Rolling Hills Estates, April, 26, 2011: On May 12th 2011, thousands of Keller Williams Realty agents across the country, choose to put their businesses on hold, put their “Red” shirts on and focus their time, energies and resources, towards giving back to their local communities – in honor of our 3rd Annual Red Day.

This year, our Keller Williams Palos Verdes Realty office, is facilitating a food drive to benefit two local charities who are very much in need, Harbor Interfaith in San Pedro and House of Miracles in Redondo Beach.

Harbor Interfaith assists 12,000 people annually to get up and get away from poverty and back on the road to self-sufficiency.

House of Miracles is also a non-profit organization that focuses on helping people achieve a sober and successful lifestyle on their road to recovery.

To help, we need donations of non-perishable groceries as well as hygienic products. This includes canned goods, pastas, basic staples like rice and pastas, soups and any other food items that promote a healthy diet. They also need personal hygiene items such as tooth paste, tooth brushes, shampoo and soap. You may find that you already have some of these items in your pantry. Or perhaps, you may be reminded of it on your next trip to the grocery store.

Then, May 12th, you can either drop them off from 9:00 am – 7:00 pm at Ralph’s on Hawthorne Blvd. at Crest Road in Rancho Palos Verdes or Pavilions on Silver Spur Road in Rolling Hills Estates. Or, if you can’t make it to the store that day, you can also call the Keller Williams Palos Verdes Realty office to have an agent pick up the items from your house. Whatever it takes, we are here to help!

Pavilions

7 Peninsula Court

Rolling Hills Estates, CA  90274

Ralphs

30019 Hawthorne Blvd

Rancho Palos Verdes,  CA  90275

 

Join us in our 3rd annual Red Day Give Where you Live Event this May 12th. For more details or to have an agent pick up your donation call our office at (310) 544-6100. Thanks again for your support.

-        All Keller Williams offices are independently owned and operated. Keller Williams Palos Verdes Realty is one of the top Real Estate offices in the South Bay Area of Los Angeles  with over 160 active agents.  For more information call (310) 544-6100.

-        The mission of Harbor Interfaith Services is to empower the homeless and working poor to achieve self-sufficiency by providing support services, including shelter, transitional housing, food, job placement, advocacy, childcare, education and life-skills training.  www.harborinterfaith.org.

-        House of Miracles in Redondo Beach has a mission to provide a safe and substance free transitional residence in which women can learn and refine new living skills that will enhance lasting recovery through the tenets of the twelve step program. http://houseofmiracles.org

More buyers in Rancho Palos Verdes, Rolling Hills and other high end South Bay neighborhoods may be motivated to purchase a home before an Oct. 1 deadline when the government plans to scale back the size of “jumbo” mortgages it guarantees in costly real estate markets.

On Oct. 1, the maximum loan amount that Fannie Mae and Freddie Mac is set to decrease from $729,750 to $625,500. This might make mortgages more expensive or more difficult to get for buyers in high-cost areas, MSNBC.com reports.

For example, after Oct. 1, a borrower who seeks a government-backed mortgage for a $1-million property may have to come up with a $370,000 down payment instead of $270,000, Rob Chrisman, a mortgage banking consultant from San Rafael, Calif., told MSNBC.

Up until 2008, any loan more than $418,000 was considered a jumbo loan, but that later swelled to $625,500 and then was temporarily set at $729,750 (which expires at the end of September).

Once the current jumbo loan limit expires, lenders who want to make loans over $625,500 either will have to hold onto the mortgage themselves or find a private investor to purchase it.

Guy Cecala of Inside Mortgage Finance is confident that private lenders will step in to make up any of the downfall from the GSEs change. He’s already pointing to the signs: In the last quarter of 2010, private lenders originated more loans over $417,000–which is considered the traditional jumbo market–than did government agencies.

Source: “Rules for ‘Jumbo’ Mortgages to Change This Year,” MSNBC.com (April 25, 2011)

With all of the Short Sales we do here in Rancho Palos Verdes and surrounding cities, it is amazing to see the levels of fraud within the mortgage systems of banks.  Short Sales require having all of your documentation in order and complete. The same is not true on the bank’s side when they foreclose on home owners. This 60 minutes video is a must see for anyone going through the frustrating foreclosure process.

“It was just a matter of cutting corners,” Sheila Bair, chair of the Federal Deposit Insurance Corporation, tells CBS’ Scott Pelley.

[idx-listings linkid="97461" count="50" showlargerphotos="true"]

Step 1) Find out if you qualify for one of the Government foreclosure relief programs (Making Home Affordable)

Step 2) Apply for relief with your lender.

Step 3) Consult a Real Estate Professional who works with Short Sales (Not all Agents have these skills and training).

[contact-form-7]

Check out these inexpensive home staging tips that can help you sell your South Bay home fast and for more money.