June 28, 2013

Food Fridays - Pier 76 Fish Grill

EaterLA - Pier 76 To Open Soon

Pier 76 Fish Grill will be serving up fresh fish any day now, located at the historic Cooper Arms building on Ocean Blvd downtown.

The chef known for the amazing seafood at Walt's Wharf in Seal Beach will be in charge of this establishment as well.





Pier 76 Menu

June 27, 2013

Luxury Home of the Week - 55 Vista Del Golfo, Long Beach


To arrange a tour, please give me a call!

55 Vista Del Golfo, Naples, Long Beach
Asking Price - $10,900,000
Six bedrooms, eight bathrooms
9,633 square feet


One of a kind skilled waterfront-specific design, construction, for maximum bay views, privacy, and durability in coastal climate distinguish this light-filled open Mediterranean masterpiece 9,633 sq ft 6 bd 8 ba Naples Island home. Formal entry is via Vista del Golfo Promenade flanking property’s 120 ft of private dock frontage directly facing entrance to Alamitos Bay:5 sets of 10-ft tall arched glass doors open above Promenade into enclosed secure 726 sq ft Veranda w/14-ft groin vaulted ceilings. It leads to Grand Hallway w/ 22 ft ceilings and domed skylights, a dramatically beautiful conduit between formal living, dining areas, library, and casual bayfront Great Room, and links to 2nd floor via Juliette balconies, balustrades, and 2 curved stairways. 1st level also has spacious view gourmet kitchen w/ streetside door, elevator, 1-car and 2-car garages, laundry, maid’s room, 2 baths, fossil stone bar nestled at foot of stairway, and private courtyard w/ self-swim spa disguised as a lovely garden fountain. 2nd floor has Master Wing with large bay view deck, his and hers master baths and closets, office, home theater, 2 ensuite guest rooms, exercise room and 2nd master suite. Superior quality stone, wood, wrought iron, and leaded glass details throughout.

June 26, 2013

Buying Homes Before They Hit MLS

LA Times - Motivated Buyers Grab Houses Before They Hit Market

It's a challenging market for buyers who sometimes have to submit twenty offers before they find a seller who will accept.  Some agents are motivated enough to bypass this entirely by searching for sellers who haven't yet thought to list their home.

If you can narrow down your neighborhood, ask an agent to send a mailer out to all homes in the area, regardless of whether they are on the MLS or not.

June 25, 2013

Mortgage Rates Recap

Weekly Preview
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Tony & Wendee Close
CLS Financial Services
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Monday, June 24, 2013
Last Week's Mortgage Rates Recap
Last week was nothing less than tragic for mortgage rates - as we forecasted. The Fed has spooked the markets with concern that the end of QE3 is on the horizon, and no matter what they continue to say it isn't herding the bears back into the cage. Normally MBS (Mortgage Backed Securities) would have benefited from the huge sell off seen in the stock market - but this last week was anything but normal. We saw MBS sell off over 300 basis points, which means we saw consumer rates increase an average of .625% in a single week (meaning a consumer who started the week with a quote of 4.125% ended the week with a quote of 4.75%). We hope that anyone that was able to lock in their interest rate was listening to the last few weeks of market activity and was able to lock in better rates. The bad news is that barring unforeseen market shaking news, we may pick a little bit of that rate hike back up in better interest rates over the next few weeks, but any retracement we do see is likely to be small (most consumers will not see average rates below 4.5% for conventional 30 year fixed mortgages).
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This Week's Mortgage Rates Forecast

Mortgage Rates Currently Trending: HIGHER
This week has opened carrying the same momentum as last week, opening up with a huge loss in MBS this morning, and seeing rates already on the rise. There isn't much in the way of economic news that is getting reported this week that could spark a turn around, so expect the current bearish market to continue.

BOTTOM LINE: We are not expecting to see things improve yet for mortgage rates. Don't get caught up waiting for things to go back to where they were. Work with your Mortgage Loan Originator to stay connected to the live trading market to protect your loan, and expect more volatility through this week.

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June 21, 2013

Food Fridays - Lona's City Limits Cantina

Attention:
One of my favorite Long Beach places, Wardlow Station, was featured on Bar Rescue for a makeover.
It's now called City Limits Cantina.

It's on the border of Long Beach's California Heights neighborhood and Signal Hill on the corner of Wardlow and Orange, hence the name "City Limits". 

I didn't think I would like the makeover (because, change! grumble grumble), but I do. Same delightful regulars, same friendly service, but with a nice coat of paint and better decor. You can choose from the classic cheap eats, like tacos, but can also order something a bit more upscale like a gourmet burger. 

I usually order beer, but I'd love to try a mescal drink. 


June 19, 2013

Ten Questions For Your Real Estate Agent

blog.winnipeghomefinder.com

This above link is to a useful video that you should watch if you're unsure what to ask when hiring an agent.

June 18, 2013

Surge In Foreclosures As Prices Rise

Bloomberg - Foreclosures Jump As Banks Bet On Rising US Home Prices

Foreclosures Jump as Banks Bet on Rising Home Prices

After falling for five months, home foreclosures increased by 11% in May due to rising prices and low inventory.

Banks and sellers are more comfortable now with the value of their inventory, and homeowners who have defaulted on their payments should be warned to expect a notice of default if they fall a few months behind.

June 14, 2013

Food Fridays - Hole Mole Has Best Dive-y Tacos



Hole Mole Website

Link to Yelp Reviews

Link to their "blog", Taco Talk, which curiously seems to be in Latin?

Hole Mole is a legendary Long Beach joint for tacos, with the Ensenada fish tacos as the most popular specialty, followed by the much-talked-about-amongst-vegetarians potato tacos.  The al pastor tacos are my personal favorite, and asada isn't bad either.



To clarify the title of this post, when I say that they have the "best" tacos, I mean it according to me - but a Yelp search of LB tacos indicate that there are plenty of other people who would agree.  And when I say "dive-y", I mean to say that you don't come here to eat a dainty fish taco plate with sophisticated seasonings for $12.99.  Instead, you'll get tacos out of a down and dirty styrofoam container tacos that cost under $2 each.  No frills, often times no parking, and likely that there will be some derelict characters in line behind you, but the food is undeniably delicious and satisfying.

Because of the name, it's common to make a "hole in the wall" joke or two.  All of these jokes are very much deserved, especially if you go to the busiest location at 4th and Almond.  But if you get enough food for four people and pay under $20, you'll be happy regardless of caliber of decor.

There are five locations around Long Beach - Belmont Heights, West Side, Los Altos, Cal Heights, and Downtown.  They also have a Tustin place for you OC people.  If you haven't given this a try, go out and get some tacos!  Even if it's midnight when you read this, there are no excuses because they are open late.

June 13, 2013

Home Of The Week: Pine Ave in Bixby Knolls



Address - 3924 Pine Ave, Long Beach, CA
Neighborhood - Bixby Knolls/ Cal Heights/Los Cerritos
Square Footage - Approximately 2,700
Lot Size - 10,130 square feet
Listed - Last Week
Architect - George Montierth
Year Built - 1951
Style - Mid-Century Modern
Bed/Bath - 4/4

Price... drumroll...
$1.25 million






June 12, 2013

Three Biggest LA Home Sales of Last Week

Curbed LA - Biggest Home Sales

NUMBER ONE

Holmby Hills Ranch Style Estate - $13.4 million


NUMBER TWO
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Pacific Palisades Mansion - $8.3 million


NUMBER THREE
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Beverly Hills Mid-Century - $7.4 million

June 11, 2013

Excellent Article From NY Times

www.nytimes.com - Cash Is Fueling Quick Home Sales

Click the link above for an insightful article about the current state of the market for buyers.

Some highlights here:

A Boston Realtor was quoted describing the market for first time buyers as "an insane asylum" - my personal favorite phrase of the day.

It is not unheard of for buyers to have to make 27 offers at or above asking price to close a transaction.

All cash buyers are making properties, especially on the lower end, especially competitive.

Buyers are waiving appraisal contingencies and inspection periods.

You can offer to ramp up the price by a certain amount on the highest bid, called an "escalation bid".

June 4, 2013

Attention: Home Prices Rising Like Crazy

This is what happens when more buyers compete for fewer homes...

US homes prices have increased by 12% (the most that they have since 2006), while Los Angeles home prices have jumped 19.2% higher from one year ago, which is close to the rest of California at 19.4%.

Los Angeles tied with Phoenix as the US city with the highest year over year increase.

Buying time, or bubble time?

source - Curbed LA - Home Prices Jump 20%

source - KPCC - US Prices Experience Highest Jump In Seven Years

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LA home price increase since 2002