Brookside Village Condos For Sale in South Redondo

Real Estate in South Redondo's most affordable community

How Can We Help Brookside Village Home Buyers in These Uncertain Times?

by Leave a Comment

Searching for a home has definitely changed over the past few years with technology meaning access to more information for home buyers. Whereas we used to spend weekends driving clients from home to home, that rarely happens any longer.

The recent events with Covid 19 and social distancing have changed the process dramatically once again. Not longer are open houses much of an option and even private home showings are frowned upon for the health and safety of the buyers, the sellers, and the realtors. So how can we help?

We’ve been doing video walkthroughs and Facetime tours for years for our out of area Brookside Village and Redondo Beach buyers. Given the current situation that is often the best place to start for even local buyers these days. If you’re not already working with a local real estate specialist we would love to help. Contact us for more information, to start your home search, or to learn more about homes that are on the market and coming up.

Why Use a Buyer’s Realtor in Brookside Village?

by Leave a Comment

What are the reasons you should use a buyer’s agent?Your local Redondo Beach real estate expert

With more resources available on the Internet, you may be considering buying a home in Brookside Village or Redondo Beach without using the services of a professional real estate agent. After reviewing these 50 services an agent would typically perform for their clients, you may want to reconsider! Remember, agents don’t get paid until the home purchase is complete. It is their job to do the best they can to help you through a smooth experience, save you money and achieve your goal of buying a home.

Here are some of the many reasons to use a buyer’s agent:

  1. Analysis of your real estate needs and determine what housing areas and options might work best
  2. Research properties.  As an expert in the area, the right buyer’s agent can get you detailed information about properties you’re interested in.  Having a realtor that understands the differences between neighborhoods and communities  can make a big difference.
  3. Send you listings that match your needs – the right agent understands what you’re looking for in a home and can send you custom email alerts whenever a new home in Brookside Village, South Redondo, or other areas hits the market.
  4. Provide information pertaining to your move or relocation and short-term stay options
  5. Educate you about home buying processes.  Buying a home has a lot of moving pieces…adding to an already stressful emotional and financial process.  A good agent can guide you through the process
  6. Provide information on market conditions, schools, communities, employment, and more
  7. Discuss your financing needs and options
  8. Recommend qualified mortgage brokers
  9. Make appointments and show properties that works around your schedule.  Open houses are great, but not every listing has them and sometimes a private tour is more beneficial
  10. Provide timely and professional disclosure and research on homes, markets and neighborhoods
  11. Home tour review: pros & cons of each property
  12. Point out important items while showing that buyer’s may overlook
  13. Follow up of loan application with your selected mortgage broker
  14. Help cleaning up your credit if needed
  15. Analyze purchasing timeline and needs once property is located
  16. Free Comparative Market Analysis (CMA) of a property in order to make an educated offer
  17. Call listing agent to get updates on property including interest, offers, etc.
  18. Create and send draft of the offer and prepare paperwork
  19. Research tax and title records
  20. Explain all paperwork before signing
  21. Collect proof of funds from buyer, preapproval letter, personal letter to seller(if warranted)
  22. Generate estimate of closing costs
  23. Write offer, send out for electronic signatures, provide verification to listing agent
  24. Review and explain final contract
  25. Submit contract and follow up with listing agent to confirm receipt and follow up questions
  26. Negotiate contract until mutually agreeable.  Working with and expert negotiator can make all the difference
  27. Set deadlines for final acceptance by all parties
  28. Send the escrow company the executed contract and help get escrow opened upon acceptance
  29. Schedule and attend the home inspection
  30. Schedule and attend the termite inspection
  31. Recommend insurance agents to you
  32. Verify loan process has begun
  33. Obtain all seller and listing agent disclosures and explain documents to buyers
  34. Perform agent “visual” inspection of property
  35. Review home inspection findings with you.  A home inspection (and the results!) can be scary especially for first time home buyers.  A good agent can walk you through the report and explain the differences between thinks that need to be repaired or addressed, and updates and upgrades that buyer’s might like, but sellers may not consider
  36. Negotiate repairs if needed
  37. Help order an appraisal
  38. Assist to meet finance deadline
  39. Monitor and manage contingencies and contingency periods – financing, home inspection, appraisal, etc.
  40. Check on homeowners insurance
  41. Verify that the title agency has all necessary documents
  42. Follow up with the lender on all aspects of closing process
  43. Get information on utilities
  44. Schedule closing: time and place
  45. Review escrow and lender closing statement
  46. Arrange and attend a final walk-through
  47. Ensure that escrow has determined the funds to be brought to closing
  48. Coordinate between lenders and title company to determine amount needed
  49. Explain everything that happens at closing
  50. Arrange closing and access
  51. Give you the keys to your new home!
  52. Follow up after closing – homestead info and insuring that everything is going well in your new home and that you’re a happy homeowner!

Think You Can’t Downsize Because Property Taxes Would Go Up?

by Leave a Comment

**Update**Please note that props 50 and 90 are no longer in effect and have been replace (depending on timing) by proposition 19.  Click here to see updated information on Proposition 19.

If you think you can’t sell your Brookside Village home and buy something elsewhere due to your property taxes going up, we have information that might really help.

California Propositions 60 and 90Frequently asked questions for Brookside Village condos

PROPOSITIONS 60 and 90 are Constitutional initiatives passed by California voters. They provide property tax relief by preventing reassessment when a senior citizen sells his/her existing residence and purchases or constructs a replacement residence worth the same or less than the original. They were enacted to encourage a person, age 55 or older to “move down” to a smaller residence. When a senior citizen acquires a replacement property worth less than the original property, he/she will continue to pay approximately the same amount of annual property taxes as before.

Proposition 60 allows for the transfers of a base year value within the same county (intracounty). Proposition 90 allows for the transfers of a base year value from one county to another county in California (intercounty) if the county has authorized such a transfer by an ordinance.

How Do These Propositions Work?

If he/she qualifies, when the senior citizen purchases or constructs a new residence, it is not reassessed. The Assessor transfers the factored base value of the original residence to the replacement residence. Proposition 60 originallyrequired that the replacement and the original be located in the same county. Later, Proposition 90 enabled this to be modified by local ordinance. Los Angeles County enacted an ordinance to provide that when the replacement is located in Los Angeles County, the original property may be located in any other California county.

Who Qualifies?

The seller of the original residence, or spouse who resides with the seller, must be at least 55 years of age at the time of the sale.

When Are These Propositions Effective?

The replacement residence must have been purchased or constructed on or after November 5, 1986 if the original was located in Los Angeles County. The replacement residence must have been purchased or constructed on or after November 9, 1988 if the ongmal was located in any other California county. Claims must be filed within three years following the purchase of the replacement residence.

Were Are Claim Forms Available?

Forms are distributed at Assessor’s public counters, in Room 225 of the Kenneth Hahn Hall of Administration, and in district offices. If you need additional information, call (213) 893-1239. The forms may also be available online at the various county assessors websites.

Counties Accepting Prop 90 Transfers:

As of November 7, 2018, the following ten counties in California have an ordinance enabling the intercounty base year value transfer:

Alameda
Los Angeles
Orange
Riverside
San Bernardino
San Diego
San Mateo
Santa Clara
Tuolumne
Ventura

Benefits of Home Ownership – Great Reasons to Own a Home

by Leave a Comment

Owning a home has so many benefits that it’s hard to argue against the merits.  While every owner has different reasons and some are moreBrookside Village condos in Redondo Beach important to one homeowner than another, there’s no lack of great reasons….

Here are just some of the benefits:

  • Happiness.  While some investors might think this is frivolous, you simply can’t understate how important this is.  The feeling of owning your hown home is unlike anything else people own.  It’s yours and it’s simply not the same thing as renting.  You can fix it up, you can spend your time gardening or mowing the lawn, you can fix it up….knowing that….it’s yours.
  • Tax Savings:   Home ownership has long been a goal for buyers and the government alike.  The government rewards homeowners by providing excellent tax benefits.  Interest paid on your mortgage and other home related expenses can often be deducted, there are huge capital gains tax exemptions when you sell (primary residence) and more
  • Appreciation:  Home values have a welll documented history of going up over time.  While there may be temporary dips in the market, there’s no question that home values go up in the long term.  The increase becomes equity you can benefit from when you refinance or sell.
  • Equity:  Renting has often been compared to paying 100% interest, but when you own a home and a mortgage is in place, a portion of your payment goes towards the principal balance on your loan….meaning each month you own a little bit more outright.  This builds your equity and acts as a savings or retirement account.  When the home value goes up the equity accrues even faster.
  • Education:  Research shos that children of homeowners earn higher test scores and graduate at a higher percentage than those of renters.
  • Community Ties:  People who own rather than rent stay in their homes 4 times longer according to statistics.  This provide and opportuntiy to get to know you neighbors and connect with you neighborhood and local community.

Should You Have a Home Inspection in Brookside Village?

by Leave a Comment

Are Home Inspections Worth Doing?

Buying a home is one of the most important purchases you will make in your lifetime, so you should be sure that the home you want to buy is in good condition. As many of the homes in Brookside  are older, it’s especially important to have the home inspected by a reputable home inspector.  A home inspection is an evaluation of a home’s condition by a trained expert. During a home inspection, a qualified inspector takes an in-depth and impartial look at the property you plan to buy. The inspector will:

  • Evaluate the physical condition: the structure, construction and mechanical systems.
  • Identify items that should be repaired or replaced.
  • Estimate the remaining useful life of the major systems (such as electrical, plumbing, heating, air conditioning), equipment, structure and finishes.

After the inspection is complete, you will receive a written report of the findings from the home inspector, along with photos and details, usually within 1-2 days.

The Bottom Line: Spending Hundreds May Save Thousands  

When you make a written offer on a home, you should insist that the contract state that the offer is contingent on a home inspection conducted by a qualified inspector. You will have to pay for the inspection yourself, but it could keep you from buying a house that will cost you far more in repairs down the road. If you are satisfied with the results of the inspection, then your offer can proceed.

Finding a Qualified Home Inspector

It is the decision of the home buyer what home inspector to use, although your realtor should have some very helpful advice and guidance.

The following sources may help you find a qualified home inspector:

  • Your real estate agent. Most real estate professionals have a list of home inspectors they recommend.
  • State regulatory authorities. Some states require licensing of home inspectors.
  • Professional organizations. Professional organizations may require home inspectors to pass tests and meet minimum qualifications before becoming a member.
  • Phone book yellow pages. Look under “Building Inspection Service” or “Home Inspection Service.”
  • The Internet. Search for “Building Inspection Service” or “Home Inspection Service.”

Home Inspections Are Not Appraisals

A property appraisal is a document that provides an estimate of a property’s market value. Lenders require appraisals on properties prior to loan approval to ensure that the mortgage loan amount is not more than the value of the property. Appraisals are for lenders; home inspections are for buyers.