Gary Legaspi

Single Story For Sale in North Lawndale

2008-03-06T19:38:00Z

3% Down Payment Available

• 845 sq. ft., 2 bath, 2 bdrm single story - MLS® $305,000 - Affordable 2 Bedrm Condo

North Lawndale, Lawndale - Affordable condo with 2 Bedrooms, 2 Full Baths, suites, dining area, living room and balcony. It is located on the first floor of a secure complex. According to the seller, the complex has new security cameras and the plumbing for the building has been upgraded.

Property information

Conforming Loan Limit Increase

2008-02-13T22:18:00Z

Although this is currently awaiting President Bush’s signature, it might not be available until 30-60 days after it has been signed. Lenders are not currently equipped to handle this increase. They need to update their system. Depending on the amount of activity that it will generate, the lenders would have to hire or rehire all the employees that were laid off during the mortgage meltdown. For the L.A. metro area, the conforming loan amount is predicted to be increased to the full $729,750.

3480 W. 171st Street in North Torrance is Sold!

2007-12-29T18:43:00Z

North Torrance, Torrance - The 3-level split at 3480 W. 171st Street has been sold. Below are other 2-3 Bedroom townhomes within the area that were SOLD from June 2007 through December 2007.

Address Sold Price Bed/Bath Sq Ft Price/Sq Ft. Yr. Blt Close Date Market Time

3749 Artesia Blvd #5 $398,000 2 2.00 961 $414.15 1981 07/20/2007 112

3910 W 182nd #1 $405,000 2 2.50 1,360 $297.79 1983 12/19/2007 91

4325 W 182nd #12 $450,000 2 2.50 1,398 $321.89 1980 08/10/2007 37

4512 W 182nd $450,000 2 2.50 1,248 $360.58 1984 11/20/2007 83

3910 W 182nd #3 $480,000 2 2.50 1,360 $352.94 1983 07/10/2007 87

3480 171St #18 $485,000 3 2.50 1,592 $304.65 1981 12/17/2007 137

3925 W 182nd $490,000 2 3.00 1,264 $387.66 1986 07/31/2007 12

4021 W 182nd #A $500,000 2 2.50 1,691 $295.68 1989 07/19/2007 146

18414 Ashley Ave $759,000 3 3.00 2,095 $362.29 2007 06/27/2007 81

Averages: $490,778 2.0 2.6 1,441 $344.00 1986 87.33

Median Price of all Listings: $480,000

Average Price of all Listings: $490,778

Property information

Impending ARM Reset? An FHA might be the answer but not for all...

2007-12-01T08:10:00Z

Some homeowners who currently have an ARM that will reset can take advantage of a new program from the Federal Housing Administration called FHASecure. It will help refinance homeowners with ARM loans and transition them into fixed-rate FHA loans. The requirements are the following:

ARM Loan with a reset between 12/2005-12/2009
Stable employment history
Income to meet the fixed payments
3% equity in the home
Not in default
Don't have late payments
For California - Total Loan amount of $362,790 or less

For more information call the lender of your choice or you may choose one from my resource page

http://www.southbayagent.com/Resource_Page/page_304546.html

Although these service providers are listed on my website, I cannot guarantee your satisfaction with their services. Others may have had successful experiences with these companies/individuals, yours might be different. Please perform your due diligence and interview all service providers before you choose one.

H.R. 1852 Increasing FHA Loan Limits...Good or Bad for the market?

2007-11-29T06:13:00Z

Excerpt from an article on Searchlight Crusade website by Dan Melson ept 18, 2007

"House passes HR 1852. This raises the limit for FHA mortgages, appears to lower equity requirements (to less than zero) in certain circumstances, lowers their mortgage insurance ceiling. It also lowers the credit score minimum, and prohibits failures to pay from being reported to credit reporting agencies."

http://www.searchlightcrusade.net/2007/09/news-from-the-front-house-pass.html

My initial reaction to the "American Homeownership Act of 2007" is that it will help deserving homebuyers can now afford to purchase a home in California. After reading the above mentioned article, I see how others may have reservations about it. It passed the House but has only been introduced in the Senate on 9/19/2007. What do you think? You are more than welcome to post your comments on this subject.

Rise and Dine at your Great Breakfast place. Name one or two or three...

2007-11-18T17:41:00Z

They say that the most important meal of the day is breakfast. My wife and I enjoy having breakfast on the weekends at new places that we discovered. I would lke to share these places with you. Below is a list of diners and cafes that have good and reasonably priced morning meals. Please feel free to add your favorite place to this list.

Eat at Joe's
400 N. Pacific Coast Hwy
Redondo Beach, Ca 90277
http://i-eat-at-joes.com/
Hot N Tot
2347 Pacific Coast Hwy
Lomita, CA 90717
Local Place Bakery and Cafe
18605 S Western Ave.
Torrance, CA 90501
Ricky & Ronnie's Cruise-In Diner
1301 Sepulveda Blvd
Torrance, CA 90501
http://www.rickyandronnies.com/

There is a BIG SALE going on!!!

2007-11-18T05:47:00Z

During the holidays, retail stores have sales. Thanksgiving sales, Christmas sales, close-out sales, etc. People flock to them. Most of the time comsumers don't even hesitate to charge these purchases because they are such good deals. I have great news for everyone! There is a BIG SALE going on! All the HOUSES, TOWNHOMES & CONDOS are ON SALE! Multiple offers are very rare nowadays. It is a Buyers' market. Interest rates are low. Some people are saying don't buy because the market has not bottomed out yet. My question to them is how can they be so sure? How can they predict what will happen? Can they guarantee this statement? There can be an overall real estate trend throughout the country but you still have to look at each invdividual micro market. Some markets may have gone down 15% and others 5% or simply flat. Another factor to consider is the interest rate for mortgages. Interest rates are still low. How long will it stay at this level? Only buyers who are paying cash or at least placing 50% down on a property are the ones who are not affected by the interest rates. In fact, only these people and investors should be really concerned about buying at the bottom of the market. If you are buying a home as your primary residence, you should ask yourself these questions:

Are you placing a down payment of 20% or less?
Can you find a home today that will suit your needs?
Will the monthly payments for that home be affordable/comfortable?

If your answer to these questions is "YES", then you should consider getting pre-qualifed for a loan. You have a great opportunity to buy a house today. Do not let the recent mortgage melt-down stop you. Good loan programs still exist. Most mortgage brokers do not charge for a consultation. Don't wait until other homebuyers start coming back into the market. When that happens, you may lose your opportunity to purchase a decent home for a great price.