Palos Verdes Blog

Sept. 17, 2020

National Market Update Week of September 14, 2020

National Market Update

In Fannie Mae’s August Home Purchase Sentiment Index, almost half those polled say now is a good time to sell a home, and well over half feel it’s a good time to buy. Good news for homeowners who need to do both.

The Mortgage Bankers ...

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Sept. 10, 2020

The Market & Industry: Market holding strong, mortgage rates unlikely to drop lower

Last week, California enacted statewide protections for tenants, banning evictions based on nonpayment of rent between March and August 2020 and requiring tenants to pay 25 percent of their rent between September 1, 2020, and January 31, 2021, to avoid court-ordered evictions. The White House also issued an eviction moratorium ...

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Sept. 3, 2020

SBA to assist California businesses and residents affected by wildfires

In consideration of the public health concerns due to the coronavirus pandemic, the SBA has established a Virtual Business Recovery Center to provide personalized assistance to business owners. In addition, SBA will also open a Virtual Disaster Loan Outreach Center to help homeowners and renters.

Customer Service Representatives will be ...

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Aug. 27, 2020

Palos Verdes Estates Foundation formed to augment projects across the city

Palos Verdes Estates Mayor David McGowan and other civic leaders and volunteers formed the non-profit Palos Verdes Estates Foundation to augment beautification, cultural and other projects across the city.

At a recent Zoom kick-off event more than 100 Founding Donors raised more than $300,000, said Karen Logan, the foundation ...

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Aug. 26, 2020

4 Ways to Prepare Your Garden for Fall

We’re heading into the fall season, and that means cooler weather is on its way. This is the perfect opportunity to enjoy the great outdoors, tend to your garden and improve your home’s curb appeal — all in one fell swoop.

Are you looking forward to spending some time sprucing ...

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Posted in Palos Verdes Blog
Aug. 25, 2020

National Market Update Week of Aug 24, 2020

National Market Update

How’s this for V-shaped: existing-home sales hit their bottom in May, down 32.1%; then, after record-setting gains in both June and July, existing-home sales have now soared above their February high, to a 5.860 million annual rate.

Growth occurred in all major regions for ...

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Posted in Palos Verdes Blog
Aug. 15, 2020

Historic Vanderlip Estate in Rancho Palos Verdes sells for $10.5 million

An unidentified buyer has snapped up the near-century-old Vanderlip family estate atop Rancho Palos Verdes’ Portuguese Bend for $10.5 million.

Known as Villa Narcissa, this 11.5-acre property with unobstructed Catalina Island views has a 7,700-square-foot Tuscan-style villa complete with 10 guesthouses, a swimming pool and a tennis ...

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Aug. 14, 2020

ARMs are unattractive in 2020 as FRM rates fall

The average adjustable rate mortgage (ARM) rate decreased to an average rate of 3.03% in July 2020, down from 3.47% a year earlier. ARM rates have decreased as a direct result of the Federal Reserve’s (the Fed’s) action to pull back short-term rates to combat the 2020 recession ...

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Aug. 12, 2020

Health Precautions When Buying a Home

Aug. 10, 2020

Home affordability climbs

National Market Update

Black Knight reports that despite home prices rising 97 months in row, affordability is the highest since 2016. For the same monthly payment, buyers can now afford almost $32,000 more home than they could a year ago.

The report notes that thanks to low mortgage ...

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