Why Use a Licensed Torrance Realtor?

Why Should you use a realtor®?

All real estate licensees are not the same. Only real estate licensees who are members of the NATIONAL ASSOCIATION OF REALTORS® are properly called REALTORS®.   REALTORS® subscribe to a strict code of ethics and are expected to maintain a higher level of knowledge of the process of buying and selling real estate. An independent survey reports that 84% of home buyers would use the same REALTOR® again.

Real estate transactions involve one of the biggest financial investments most people experience in their lifetime. Transactions in Torrance today usually exceed $800,000. If you had a $800,000 income tax problem, would you attempt to deal with it without the help of a CPA? If you had a $800,000 legal question, would you deal with it without the help of an attorney? Considering the small upside cost and the large downside risk, it would be foolish to consider a deal in real estate without the professional assistance of a REALTOR®.

But if you’re still not convinced of the value here are twelve reasons to use a realtor:

1. Your REALTOR® can help you determine your buying power — that is, your financial reserves plus your borrowing capacity. If you give a REALTOR® some basic information about your available savings, income and current debt, he or she can refer you to lenders best qualified to help you. Most lenders — banks and mortgage companies — offer limited choices.

2. Your REALTOR® has many resources to assist you in your home search. Sometimes the property you are seeking is available but not actively advertised in the market, and it will take some investigation by your agent to find all available properties.

3. Your REALTOR® can assist you in the selection process by providing objective information about each property. Agents who are REALTORS®have access to a variety of informational resources. REALTORS® can provide local community information on utilities, zoning. schools, etc. There are two things you’ll want to know. First, will the property provide the environment I want for a home or investment? Second, will the property have resale value when I am ready to sell?

4. Your REALTOR® can help you negotiate. There are myriad negotiating factors, including but not limited to price, financing, terms, date of possession and often the inclusion or exclusion of repairs and furnishings or equipment. The purchase agreement should provide a period of time for you to complete appropriate inspections and investigations of the property before you are bound to complete the purchase. Your agent can advise you as to which investigations and inspections are recommended or required.

5. Your REALTOR® provides due diligence during the evaluation of the property. Depending on the area and property, this could include inspections for termites, dry rot, asbestos, faulty structure, roof condition, septic tank and well tests, just to name a few. Your REALTOR® can assist you in finding qualified responsible professionals to do most of these investigations and provide you with written.
reports. You will also want to see a preliminary report on the title of the property. Title indicates ownership of property and can be mired in confusing status of past owners or rights of access. The title to most properties will have some limitations; for example, easements (access rights) for utilities. Your REALTOR®, title company or attorney can help you resolve issues that might cause problems at a later date.

6. Your REALTOR® can help you in understanding different financing options and in identifying qualified lenders.

7. Your REALTOR® can guide you through the closing process and make sure everything flows together smoothly.

8. When selling your home, your REALTOR® can give you up-to-date information on what is happening in the marketplace and the price, financing, terms and condition of competing properties. These are key factors in getting your property sold at the best price, quickly and with minimum hassle.

9. Your REALTOR® markets your property to other real estate agents and the public. Often, your REALTOR® can recommend repairs or cosmetic work that will significantly enhance the salability of your property. Your REALTOR® markets your property to other real estate agents and the public. In many markets across the country, over 50% of real estate sales are cooperative sales; that is, a real estate agent other than yours brings in the buyer. Your REALTOR® acts as the marketing coordinator, disbursing information about your property to other real estate agents through a Multiple Listing Service or other cooperative marketing networks, open houses for agents, etc. The
REALTOR® Code of Ethics requires REALTORS® to utilize these cooperative relationships when they benefit their clients.

10. Your REALTOR® will know when, where and how to advertise your property. There is a misconception that advertising sells real estate. The NATIONAL ASSOCIATION OF REALTORS® studies show that 82% of real estate sales are the result of agent contacts through previous clients, referrals, friends, family and personal contacts. When a property is marketed with the help of your REALTOR®, you do not have to allow strangers into your home. Your REALTOR® will generally prescreen and accompany qualified prospects through your property.

11. Your REALTOR® can help you objectively evaluate every buyer’s proposal without compromising your marketing position. This initial agreement is only the beginning of a process of appraisals, inspections and financing — a lot of possible pitfalls. Your REALTOR® can help you write a legally binding, win-win agreement that will be more likely to make it through the process.

12. Your REALTOR® can help close the sale of your home. Between the initial sales agreement and closing (or settlement), questions may arise. For example, unexpected repairs are required to obtain financing or a cloud in the title is discovered. The required paperwork alone is overwhelming for most sellers. Your REALTOR® is the best person to objectively help you resolve these issues and move the transaction to closing (or settlement).

Keith Kyle is a licesnsed Realtor with Vista Sotheby’s International Realty with offices throughout the South Bay.  Keith has been a full time realtor since 2005 and a “Top Producer” in the area every year since 2007.  He has helped hundreds of buyers and sellers in Torrance and the Beach Cities and looks forward to helping you as well.  Contact Keith for all of your real estate needs.

Real Estate Recap – Torrance CA Home Sales and Prices for February 2020

February was a slow month for closed home sales in Torrance Calfornia with only 71 homes sold during the month. That’s the fewest home sales in a month over the past 18 months other than December 2018 and 2019 (which is typically very slow) Prices were solid as they’ve been over the past 18 months with the median list prices of $717,500 and a median sales price of $700,000.  Average price per foot for sold homes in Manhattan Beach was $532.  Median days on market was only 13 which is incredibly low and is another indication of a strong sellers market.  Old Torrance saw the most home sales with 10.   See the Torrance real estate stats for the past 15 months below.

View the current homes for sale in Torrance CA

February 2020 Home Sales and Prices in Torrance.

MLS # Type   Address Price $ Per Foot Bed/Bath Sq Feet Year Sold Date
DW19263303 SFR/D 1604 W 226th ST   $510,000 $675.50 2/1,0,0,0 755/A 1952/ASR 2/5/2020
20548890 SFR 21126 Denker AVE   $580,000 $591.23 2/1,0,0,0 981/O 1952 2/26/2020
PW19193695 SFR/D 1302 Harmony WAY   $659,000 $321.46 4/4,0,0,0 2050/A 2007/ASR 2/12/2020
OC20014416 SFR/D 20951 Halldale AVE   $795,000 $519.61 4/2,0,0,0 1530/A 1951/ASR 2/21/2020
SW19148442 SFR/A 21405 S Normandie AVE   $978,990 $364.89 4/4,0,0,0 2683/B 2018/BLD 2/21/2020
SB20022832 TWNHS/A 22330 Harbor Ridge LN   #5 $400,125 $310.90 3/2,0,0,0 1287/A 1980/ASR 2/14/2020
SB20015190 CONDO/A 22232 S Vermont AVE   #203 $405,000 $421.44 2/2,0,0,0 961/A 1985/ASR 2/27/2020
RS19282196 CONDO/A 20553 S Vermont AVE   #1 $420,000 $433.88 2/0,2,0,0 968/A 1982/ASR 2/3/2020
19532922 SFR 21028 Royal BLVD   $520,000 $594.29 2/1,0,0,0 875/ 1954 2/6/2020
SB20014741 SFR/D 1012 Clarion DR   $590,000 $503.41 3/1,1,0,0 1172/A 1959/ASR 2/20/2020
SB20014479 SFR/D 20809 Orchard AVE   $613,000 $523.04 3/2,0,0,0 1172/A 1961/ASR 2/5/2020
OC20016855 SFR/D 912 W 214th ST   $695,000 $408.82 3/1,1,0,0 1700/A 1960/ASR 2/28/2020
SB19273083 SFR/D 23329 Berendo AVE   $800,000 $300.98 5/1,2,0,0 2658/A 1969/ASR 2/11/2020
SB20013550 TWNHS/A 3718 Newton ST   $654,000 $568.70 2/1,1,1,0 1150/A 2010/ASR 2/20/2020
SB20002097 SFR/D 4006 W 242nd ST   $840,000 $889.83 2/1,0,0,0 944/A 1949/ASR 2/25/2020
19531970 CONDO 2605 SEPULVEDA    #201 $455,000 $458.21 1/1,0,1,0 993/ 2003 2/5/2020
SB19271335 CONDO/A 2605 Sepulveda BLVD   #208 $510,000 $428.21 2/1,1,0,0 1191/A 2003/ASR 2/27/2020
SB20017286 SFR/D 2360 Del Amo    $540,000 $830.77 2/1,0,0,0 650/A 1948/ASR 2/21/2020
SB19287069 TWNHS/A 3520 Maricopa ST   #22 $626,000 $453.62 2/1,1,1,0 1380/A 1975/ASR 2/11/2020
PV20010588 TWNHS/A 2800 Plaza Del Amo    #368 $665,000 $561.18 2/2,0,1,0 1185/A 1987/ASR 2/12/2020
SB20013809 CONDO/A 2563 Plaza Del Amo    #412 $680,000 $521.87 2/2,0,0,0 1303/A 1985/ASR 2/14/2020
SB19281927 TWNHS/A 2300 Maple AVE   #58 $781,800 $454.27 3/2,0,1,0 1721/A 1989/ASR 2/13/2020
20543458 TWNHS 2300 MAPLE AVE   #232 $845,000 $452.60 4/3,0,0,0 1867/ 1988 2/19/2020
SB20008579 SFR/D 1017 Teri AVE   $915,000 $527.68 4/1,1,0,0 1734/A 1951/ASR 2/11/2020
SB20001457 TWNHS/D 2889 Plaza Del Amo    #902 $970,000 $424.51 3/2,0,1,0 2285/A 2003/ASR 2/11/2020
SB19225885 CONDO/A 3120 Sepulveda BLVD   #107 $355,000 $440.45 2/1,1,0,0 806/A 2002/ASR 2/21/2020
SB19242404 CONDO/A 22841 Nadine CIR   #B $417,500 $373.77 2/1,1,0,0 1117/A 1963/ASR 2/6/2020
SB20021449 CONDO/A 3120 Sepulveda BLVD   #209 $420,000 $521.09 2/2,0,0,0 806/A 2002/ASR 2/27/2020
PW19211301 CONDO/A 22631 Maple AVE   #A $464,000 $488.42 2/1,0,1,0 950/A 1963/ASR 2/4/2020
SB19132807 CONDO/A 22605 Nadine Circle    #200 $485,000 $501.55 2/1,0,1,0 967/P 1963/PUB 2/3/2020
SB19282413 CONDO/A 22730 Nadine CIR   #A $492,000 $517.89 2/0,1,1,0 950/A 1963/ASR 2/21/2020
SB19214876 CONDO/A 22939 Nadine CIR   #B $510,000 $456.58 2/2,0,0,0 1117/A 1963/APP 2/11/2020
SB20025306 SFR/D 2759 W 234th ST   $944,000 $488.36 4/1,1,0,0 1933/A 1965/ASR 2/27/2020
SB20006563 SFR/D 4621 Greenmeadows AVE   $1,129,000 $721.87 3/1,2,0,0 1564/A 1953/ASR 2/28/2020
SB19250168 SFR/D 5418 Calle De Arboles    $1,345,000 $613.87 4/3,0,0,0 2191/A 1955/ASR 2/27/2020
SB19242072 SFR/D 4111 Paseo De Los Tortugas    $1,550,000 $699.77 4/3,0,0,0 2215/A 1968/ASR 2/28/2020
PV20021775 SFR/D 22644 Gaycrest AVE   $878,000 $1,068.13 2/1,0,0,0 822/A 1952/ASR 2/18/2020
SB20016005 SFR/D 5035 Avenue B    $989,000 $506.66 3/2,0,0,0 1952/A 1952/ASR 2/21/2020
OC19217903 SFR/D 22602 Linda DR   $1,000,000 $599.52 3/2,0,0,0 1668/A 1952/APP 2/12/2020
PV20015739 SFR/D 3928 W 234th PL   $1,075,000 $514.35 4/2,0,0,0 2090/A 1962/ASR 2/27/2020
PV20011715 SFR/D 23517 Adolph AVE   $1,190,000 $516.27 5/3,0,0,0 2305/A 1962/ASR 2/25/2020
SB20003535 SFR/D 5024 Macafee RD   $1,250,000 $537.17 3/3,0,0,0 2327/A 2000/ASR 2/13/2020
SB20011927 SFR/D 5020 Laurette ST   $1,130,000 $571.00 4/2,0,0,0 1979/A 1955/ASR 2/25/2020
SB20015221 SFR/D 19413 Donora AVE   $965,000 $839.13 3/1,0,0,0 1150/A 1955/ASR 2/20/2020
SB19147236 SFR/D 3713 W 181st ST   $625,000 $562.05 3/1,0,0,0 1112/A 1953/PUB 2/12/2020
TR19191215 SFR/D 18603 Crenshaw BLVD   $645,000 $739.68 3/1,0,0,0 872/A 1951/ASR 2/12/2020
SB19278883 SFR/D 18301 Patronella AVE   $797,000 $440.33 3/2,0,0,0 1810/A 1954/ASR 2/19/2020
SB19259179 SFR/D 3806 W 172nd ST   $875,000 $570.03 3/2,0,0,0 1535/A 1955/ASR 2/10/2020
SB20020606 SFR/D 17202 Falda AVE   $880,000 $425.33 3/2,0,0,0 2069/A 1948/ASR 2/26/2020
DW19281919 SFR/D 18035 Fonthill AVE   $926,000 $315.07 5/4,0,0,0 2939/A 1954/ASR 2/25/2020
SB20003030 SFR/D 3355 W 175th ST   $940,000 $505.38 3/2,0,0,0 1860/A 1950/APP 2/14/2020
SB19227558 SFR/D 18808 Van Ness AVE   $692,500 $451.43 3/1,1,0,0 1534/A 1951/ASR 2/21/2020
SB20008812 SFR/D 2055 W 185th ST   $700,000 $527.51 3/2,0,0,0 1327/A 1955/ASR 2/20/2020
SB20000008 SFR/D 18151 GRAMERCY PL   $779,000 $641.15 3/1,1,0,0 1215/A 1957/ASR 2/28/2020
SB19283904 SFR/D 2521 W 168th ST   $810,000 $537.49 3/2,0,0,0 1507/A 1953/PUB 2/11/2020
DW19287241 CONDO/A 1281 Cabrillo AVE   #302 $410,000 $676.57 1/1,0,0,0 606/A 1993/ASR 2/28/2020
PW19134808 CONDO/A 911 Cota AVE   #2 $475,000 $409.84 2/3,0,0,0 1159/A 1984/APP 2/21/2020
SB20014462 SFR/D 2019 W 220th ST   $587,500 $807.01 2/1,0,0,0 728/A 1930/PUB 2/28/2020
DW19267326 SFR/D 2418 Del Amo BLVD   $625,000 $686.81 3/1,0,0,0 910/A 1948/ASR 2/11/2020
PW20001578 TWNHS/A 1833 Cabrillo AVE   $690,000 $575.00 2/2,0,1,0 1200/A 2011/ASR 2/13/2020
SB20002581 SFR/D 617 Cota AVE   $726,000 $639.08 3/1,0,0,0 1136/A 1919/ASR 2/27/2020
SB19264034 SFR/D 606 Amapola AVE   $740,000 $811.40 2/2,0,0,0 912/A 1947/ASR 2/5/2020
SB20009557 SFR/D 2362 Sierra ST   $818,000 $464.77 3/2,0,1,0 1760/A 1988/ASR 2/21/2020
SB19245968 SFR/D 1729 Manuel AVE   $875,000 $498.29 4/1,0,1,0 1756/A 1950/ASR 2/28/2020
TR20005423 SFR/D 2405 Santa Cruz CT   $986,300 $377.03 4/3,0,0,0 2616/A 1977/ASR 2/19/2020
CV19232342 TWNHS/A 23903 Arlington AVE   $490,000 $462.26 2/1,1,0,0 1060/A 1978/ASR 2/26/2020
SB19257855 CONDO/A 23418 Arlington AVE   #1 $540,000 $385.44 3/1,1,0,1 1401/A 1973/ASR 2/24/2020
SB20009491 SFR/D 2269 W 233rd ST   $850,000 $361.09 4/3,0,0,0 2354/A 1978/ASR 2/26/2020
SB20008302 SFR/D 2338 W 232nd ST  W $879,000 $529.84 3/2,0,0,0 1659/A 1973/ASR 2/20/2020
DW19216620 CONDO/A 20425 S Vermont AVE   #4 $380,000 $396.25 2/2,0,0,0 959/A 1980/ASR 2/14/2020
PW19266283 SFR/A 1655 W 216th ST   $740,000 $508.24 4/2,0,0,0 1456/A 1944/ASR 2/7/2020

By the Number – Real Estate Stats for Torrance CA

View all real estate stats for Torrance

State of Torrance Real Estate Market As We Head into 2020

Welcome to our Torrance real estate update for the coming year.   2020 is looking to be another banner year for home sellers as the combination of seemingly endless demand and historically low interest rates means more people will be looking to purchase a home.

View the current homes for sale in Torrance California.

In general the real estate market seems to be slowing down heading into 2020 but for a very odd reason…..each month there are fewer homes hitting the market.  Fewer listings mean fewer home sales.  January saw a very slight uptick in the number of listings so we’re hopeful that is a trend that continues.  Other than that small bump in January, the number of homes for sale has dropped every month since May of 2019

According to Torrance realtor Keith Kyle, “It’s clear that the market is cooling off as there has been an increase in new listings coupled with fewer sales and homes going into escrow since summer.”  The chart above shows that the number of active listings has held pretty steady between 150 and 170 since summer, but the number of sold homes as well as new escrows has continued to decrease.  If this trend continues the market will shift more in favor of buyers and less in favor of sellers.  It’s clearly been a sellers market over the past few years.

The chart below shows the upward trend over the past few months with avarage “months of inventory” of unsold homes on the rise.

What Exactly Is Debt To Income Ratio

One of the key items that a lender takes into consideration when you’re getting pre approved for a loan and during the underwriting process is your debt to income ratio. This tells the lender how much money you owe each month compared with your monthly income to come up with a ratio to determine how much of a risk you are to them.  This ratio comes from adding up all of your debts including mortgages, auto laons, student loans, credit card balances and any other debt you pay off each month to your pre-tax income each month. Lenders have different thresholds that they’ll allow so it’s always good to talk with several lenders.  If you’re not comfortable getting the process started we would be happy to give you several lenders that we’ve worked with and that have earned our trust.

What’s happening in the Torrance Real Estate Market?

Take a look at the charts below to get a better understanding of what’s happening in the Torrance real estate market.   We hope that getting an awareness of what the real estate market has been doing for the past 18 months can help make you a knowledgeable home buyer or seller in this great city.  See the current homes for sale in the various neighborhoods of Torrance.

For Sale, Sold and Pending Sales in Torrance CA

Average Days on Market in Torrance and % that Homes Sell Versus the Original Listing Price

Keith Kyle is a top producing realtor and Torrance real estate specialist with Vista Sotheby’s International Realty

How Buyers and Sellers Handle Home Inspection Challenges

One of the more treacherous parts of an escrow is the home inspection and request for repairs.  Often times the buyer thinks that the home inspection is a “checklist” of what needs to be fixed while the seller either thinks their home is perfect or “it was just fine for us so why does the buyer need things that work fine upgraded or repaired”.  Finding middle ground isn’t always easy.

As the graphic below shows, 80% of home inspection reports show at least something needing to be fixed.  We always recommend to both our buyers and sellers to be reasonable.  On the buyer side stick to actual problems or repairs.  If it’s an issue that the buyer will have to immediately pay for to have repaired…it’s a reasonable request.  The biggest challenge items are either those called out as not up to current code, or items towards the end of their service life.  Buyers need to understand that the statement “not up to current building code” does not mean it’s necessarily problematic.  Codes change all of the time and unless it’s a clear safety issue, it’s usually best to stick with actual repairs.  Items at the end of their service life really depend on the item, the cost and how extensive the rest of the repair list.  We’ve found that asking for everything usually ends with the seller dismissing any repairs….even the reasonable ones.

Keith Kyle is a top producing realtor and Torrance real estate specialist with Vista Sotheby’s International Realty in the South Bay.  Contact Keith for more information on how the home inspection and escrow process works in Torrance real estate.