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manhattan beach: Want to Sell Your Home? - 01/12/08 01:38 PM
Find a terrific Publicist (Real Estate Agent) who knows how to create some pizzaz, a unique attraction around your home. You may not realize how special your property is, only your agent appreciates what a jewel you have. This is what goes through his mind as he takes steps to present this for sale. If your agent is competent and articulate, he/she will be able to present a side of your property that the buyer does not appreciate; the features that make your home a discovery that creates a need that otherwise did not exist. This is creative selling at its … (5 comments)
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manhattan beach: A Good Time to Buy - 11/30/07 08:16 AM
The 2007 National Housing Pulse Survey from October 2007, indicates that 59 percent of Americans think .And yet, these are the figures that are completely out of sinc with logic : = Existing Homes Sales dipped to 4.97 million in October, the lowest since 1999 = New Homes Sales counted 728,000, just off its 12-year lows = The supply of homes on the market is now at 10.8 monthsCan you believe the power of the press? Only the negative thoughts are spewed out by print and TV to fill space. And their audience absorbs it. Thus, many are missing some prime opportunities. … (0 comments)
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manhattan beach: So, Is It A Buyers Market? - 11/06/07 09:23 AM
Can it be described as "A market condition characterized by an abundance of goods available for sale”...a reasonable description of a buyer’s market? Is a decline in pricing reflecting a buyer’s market?Well its a buyer’s market, or was, in terms of availability. This condition has been changing. Rather than reducing the price in the So. Bay, where pricing is all in the Jumbo Loan category, sellers are becoming holders. Its becoming a Holders Market... ‘Why sell now when I can get my price’ is becoming le mot du jour. So in simple terms, if you can find it, buy it. And … (6 comments)
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manhattan beach: Could The Miserable Housing Starts Be An Indicator Of The Housing Market's Recovery? - 10/19/07 10:00 AM
Not if you believe everything you read in the press. These writers present only what appears on the surface. Yes, Housing Starts plunged last month. Does this mean the Housing Market is in the toilet?The government has just released September 2007's Housing Starts data for the country. A "Housing Start" is a new home on which construction has commenced. = Versus August 2007, starts are down 10.2%= Versus September 2006, starts are down 30.8%Headlines are saying that this is bad news for the U.S. economy, proof that real estate is in a tailspin. That the ”nightmare” is ongoing. As usual, the … (6 comments)
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manhattan beach: Ah, la fin de fumer! - 10/15/07 11:29 AM
Yes, come January, smoking will be banned in all restaurants and bars in France. In theory, the ban has been in effect since 1991...a ban except for specified “smoking” areas. Of course the majority of space in each establishment became the smoking area. It looks like one of the last poignant characteristics of French life is finito. Come January you risk a 75 euro ($107.00 US) fine if you light up over your demi et cognac. This is the first hit. In recent years tobacco taxes have been jacked up 40 percent, bringing a packet to around five euros ($7.00 US), one … (1 comments)
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manhattan beach: Things Looking Up? - 10/14/07 06:03 PM
Things are starting to look up in real estate from what recent reports and the NAR indicate. It may be a temporary positive glich, but with widening credit availability and low interest rates holding steady it sure does look like a recovery is slowly under way. I’m sure this is no news to anyone in the business. Of course everyone likes a positive attitude...why not?Conforming loans are becoming very available at historically attractive mortgage rates. There have been adjustments in pricing for jumbo mortgages, and subprime mortgages are being replaced by FHA loans.One thing that gives the market perspective is the … (5 comments)
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manhattan beach: Who Needs A Partner? - 10/03/07 12:19 PM
It seems that partnerships are the way of the future. Why? I’m a loaner myself. I sure don’t want to check-in with a partner every time I make a decision. So what’s the advantage? Businesses—successful business— are run like a business even if there are no partners. There’s a structure to a business. Things get done on schedule, there’s plan, ergo a business plan. There is a growing trend from Sole Proprietor (SP) to Business Owner (BO). The thought precesses are totally different. Think about it. The SP has only one-on-one thoughts and the possible repercussions there of — “If I … (6 comments)
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manhattan beach: Mortgage Loan Rules Tighten - 09/24/07 05:40 PM
Not that long ago, outbidding on properties was common practice with “jumbo” loans—over $417,000. Homes on the market now have became abundant, the sub-prime meltdown has led to tightened lending even for credit-worthy borrowers, including shoppers in their price range who needed so-called jumbo loans.Lenders recently started to shun these larger deals that, according to Andrew LePage, an analyst with DataQuick Information Systems, accounted for almost 40% of purchase loans in Southern California in the first seven months of 2007. Last month, Southland home sales dropped to their lowest level for any August since 1992 as buyers, sellers and lenders held … (4 comments)
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manhattan beach: CAN YOU BELIEVE, “St. GREENSPAN” DIDN’T KNOW? - 09/17/07 10:34 AM
Even Alan Greenspan didn’t realize the danger to the nation’s economy as a result of faulty mortgage loans. As Chairman of the Federal Reserve, wouldn’t mortgage fall under his watch? His explanation is in “Fed Speak,” as are all communications from the Federal Reserve.As I understand it, the idea behind the Federal Reserve is to keep things running smoothly, so banks that are members of the Fed are federally insured, which should be reassuring to depositors. It seems that there were fraudulent practices that were swept under the rug: the Feds ignored, lenders denied, and borrowers are hung out to dry … (3 comments)
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manhattan beach: Chicago Considering Adopting Paris Self-Service Bike Scheme. - 09/13/07 01:44 PM
Chicago? (Kind of hard to get around in the snow with a bike. And the humidity without A.C. might be unbearable at times.) How did the South Bay (So California, USA) overlook this opportunity to put a major dent in the areas of horrendous gas consumption, and to help get the absurd gas guzzling vehicles off the road. After all, who needs $40,000-plus ego satisfying vehicles for transportation? The French know how to do it...small cars are derigueur. (The price of petrol may have something to do with this.)But this aside, bicycles are practical. Parking isn't a problem, the cost of … (4 comments)
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manhattan beach: Housing Inflation? - 06/04/07 04:32 PM
Ah yes, I can remember when our home in Westwood Village cost somewhere in the neighborhood of $5,000. Just south of Wilshire Blvd, it was a beauty with a bamboo walled den and porch from this romantic feeling room overlooking a sizeable backyard. The large garage was on the back of the yard. We would drive to the top of Sepulveda Blvd (pre-405 Fwy) and hunt deer, not far from where the current Getty Museum sits. Manhattan Beach was unknown to many in those days. Kids, but not many adults, would ride bicycles down to surf. Prices in either end of … (4 comments)
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manhattan beach: Some Nice Selections - 05/17/07 05:44 PM
I’ve been sending out some of the nice selections locally to a picky market. Hard to figure. People seem to be very selective with no particular reason. Even 4-unit listings are beginning to make an appearance after it seems like a lifetime of sitting in the weeds. Buyers are simply finding it hard to make a buying decision these days. Even the rising prices, and euro’s 36% addition to the dollar have been less detering for US buyers in France, than the attitude created by our mystical press locally. Poor loan availability is understandable...it should have been this way all along. … (0 comments)
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manhattan beach: Negative Amortization Loan Disclosure. - 04/14/07 02:56 PM
Borderline consumers with low FICOs, No Doc Stated Income Loans etc, who are in need of a loan to make a mortgage loan work, are likely to be approached with a negative amortization loan. Why? It’s simple: the lender is about to make a huge profit from higher interest rates, while the consumer makes payments that are doing nothing to reduce the debt. The rate payed to the bank can be 2-3 percent higher than a conservative 30-year fixed-rate loan at 6 percent. The consumer is allowed to make a lower payment due to the highr interest rate. As the consumer … (5 comments)
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manhattan beach: Subprimes are still there. - 03/31/07 08:56 AM
Subprime mortgages are stil out there. But what are they? Very simply, they’re loans made to borrowers with a FICO score of 620 or below. What borrowers should be aware of are the dangers of entering into this kind of financial commitment. To begin with, when a subprime loan is made, the rate is considerably higher than the norm. The borrower begins with payments that would surely put stress on the repay schedule. If it is an adjustable rate (ARM) loan—which quite often is the case—the payments may escalate even further as rates go up.Subprime loans are there as a means … (2 comments)
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Robert Kissig
Manhattan Beach,
CA
More about me…
Real Estate West
Office Phone: (310) 640-7897
Cell Phone: (310) 200-7556
Email Me
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"The only place to live; friendly neighbors, great beach weather and fabulous restaurants. A unique lifestyle. I was born here...let me show you around."-Robert
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