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It's the start of a new year. You've been thinking of making the move to the Palos Verdes or South Bay area.
Interest rates are still at all time lows. The $8,000 Homebuyer's tax credit has been extended and now includes existing homeowner's too!

Maybe you're tired of renting. Maybe you've heard about our award winning schools and fanastic Ocean Views.
Maybe you just want to start anew in one of the best places to work, live and raise a family.
Whatever your reasons are, you can begin your quest to find your new home at real estate for the Soul. Just email me at mthomas@remaxpv.com and I will set up a customize search for you with new homes coming to you on a daily basis.
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Torrance Real Estate Market Update - December '09
The Torrance average sales price went up by 5.6 percent in December 2009 compared to December 2008, bringing the average price to $507,359. The number of sale increased by 34 sales.
|
Torrance |
Sold |
Average |
Average |
|
December 2009 |
114 |
$507,359 |
70 |
|
December 2008 |
80 |
$554,296 |
79 |
*All stats are compiled from the Multi Regional Multiple Listing Service. Information is deemed reliable but not guaranteed.
Increased sales, on the month to month basis, in Torrance reflect a stabilization of the South Bay real estate market as home buyers respond to increased affordability and more moderate prices. Average home price in Torrance has been steadily going up in the last few months:
December 2008 - $478,307, January 2009 - $451,563, February 2009 - $477,944, March 2009 - $519,707, April '09 - $458,037, May '09 - $514,395, June '09 - $506,104, July '09 - $508,543, August '09 - $505,433, September - $525,829, October - $513,136, November - $537,659, dropped to $507,359 in December 09.
Wondering what your home is worth in today's market? Call me at (310)918-5027 for a FREE report!
Search for your perfect home at www.ISellSouthBay.com
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DQ News.com - the San Diego based real estate news and custom data service reported what we the Realtors have already noticed in the South Bay area market in the last few months - "Southland home sales and prices have been going up". 
The So California real estate market, including Torrance housing market continued its step-by-step climb up from the January-February bottom as both sales and prices saw gains last November.
You can access full article here.
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New First Time Buyer Credit for Home Owners as long as the Sale Price is under $800,000.00 and your income is under $250,000 for a married couple and $125,000.00 for a single person. If you qualify the Government will give you a $8,000.00 tax credit for 2010. This is an extension of last year"s first time homebuyer credits in 2009.
Dont Miss My featured Listing of the Week- 900 Via Nogales, Palos Verdes Estates, Calif. 90274
Click the link below for more details:
http://activerain.com/blogsview/1413373/featured-palos-verdes-estates-property-for-the-new-year-2010

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As of today, 12/17/09, there are 3 bank owned (REO) active listings in Torrance (proper Torrance excluding Torrance PO areas) and 26 short sale (pre-foreclosure) active listings. In comparison, there are 107 standard active annd 58 pending (under contract) listings in Torrance today.
11 bank owned, foreclosed homes are currently under contract, 5 sold in Nov 09 vs. 13 in Nov 08.
There are currently more short sale homes under contract - total of 63. 17 short sales closed escrow last month vs. only 6 in Nov 08. Hopefully they will all close although past experience would dictate caution. Banks have been very tough to negotiate those contracts. In order to put things in perspective, here is additional data: last month the total of 17 short sales closed successfully vs. only 6 a year ago. Thus we do see some progress in helping homewners that are "upside down".
In you're interested in Torrance real estate and looking for a deal, short sale or bank owned (REO) property might be exactly what you're looking for. Please call me at (310)918-5027 or email Info@ISellSouthBay.com and I'll help you find a home of your dreams, or an investment that makes sense! It's a great time to buy! Prices have come down, interest rates are low, and the first time home buyer tax credit is still available. It will expire in April 2010 though! Don't let this opportunnity to pass you by! Contact me today!
Visit www.ISellSouthBay.com for more information
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