Historical Interest Rates since 1972

Many Torrance CA buyers are concerned with interest rates rising with the Fed making it clear that rates will slowly increats.  That’s certainly a valid concern for potential Torrance homebuyers as a higher interest rate means a higher monthly payment which most often means a lower priced home.  Taken in historical standpoint the current rates are dramatically lower than at just about any other time.  The chart below shows the interest rate on conventional and conforming 30 year fixed rate mortgages.  As we’ll see we’ve basically seen rates drop consistently since the high water mark of 16.3% in 1981.  It certainly makes todays current rate in the mid 4% range seem pretty enticing.

Our Latest Torrance Listing Featured in The Daily Breeze

It’s always a pleasure when one of our listings is recognized by the community as something special. Our listing at 1323 Cota in Old Torrance was mentioned in the Daily Breeze as a home of historical significance. Once owned by the Torrance family themselves, this charming 1914 craftsman on an enormous lot is unique in just about every way.

Take a look at the Daily Breeze article about 1323 Cota in Old Torrance

Beautiful Historic Craftsman in Old Torrance – Just Listed

1323 Cota, Torrance CA 90501

  • $899,000
  • 3 bedroom, 1 1/2 bath
  • Huge 10,500+ foot lot
  • 1,944 Sq Feet
  • Open Houses 7/28 1pm-4pm and 7/29 1pm-4pm

This California Craftsman Executive Home is a magnificent, rare find. Built in 1914 on huge R2 lot near Nativity Church & Triangle Park, one of the most desirable parts of Historic Old Torrance. This 2 story home has fabulous bones & incredibly retains all its Historic charm. The large front porch that tracks the entire width of the house is perfect for sitting on pleasant evenings. Original front door enters into a large living room with large fireplace. The office features the original built-in desk, a coat closet and is accessed through the original pocket doors. The formal dining room has a grand built-in hutch/buffet & wainscoting. A sunny breakfast room is connected to both the dining room & kitchen. The circular downstairs floor plan is great for entertaining with a separate area for the original staircase that wraps through the center of the house. Upstairs are two large bedrooms & another smaller 3rd bedroom. There are 2 separate two car garages in the rear off the alley. Two additional storage rooms are connected to the first garage. Huge 75′ x 140′ lot (10,500 sqft) has endless possibilities including another one story house (Check with City of Torrance Building Dept). Title & Records Search indicate that this house was once owned by Jarred Sidney Torrance. Truly one of Old Torrance’s best properties & a Once-in-a-Lifetime Opportunity to own a piece of local History. To appreciate this house and its craftsmanship you must see it yourself.  Contact listing agent Keith Kyle with Vista Sotheby’s International for more information or for a private showing.  310.251.2344

 

California 2018 Tax Reforms – Specific Changes That Affect Real Estate

Here’s a helpful chart to see how the changes in the tax policy impacts Torrance and all California property owners.

PREVIOUS LAW 2018 LAW
MORTGAGE INTEREST DEDUCTION Capped at $1M Capped at $750,000
STATE AND LOCAL TAX DEDUCTION Unlimited Deduction capped at $10,000 (income, sales and property combined)
CAPITAL GAINS EXEMPTION ON SALE OF PRIMARY RESIDENCE Exclusion of up to $250,000 ($500,000 if married) of gain realized on sale or exchange of principal residence if lived in
for 2 of the last 5 years
No change
1031 LIKE-KIND EXCHANGES Applied to all classes of property (e.g. personal and real) Limits non-recognition of gain to real
property
PERSONAL DEDUCTION Allowed Eliminated
STANDARD DEDUCTION $6,350 individual and $12,7000 if married $12,000 individual and $24,000 if married
MID FOR SECOND HOMES Capped at $750,000
HOME EQUITY LOAN DEDUCTION Capped at $100,000 Not deductible unless the proceeds are used to substantially improve the property
MOVING EXPENSE EXCLUSION AND DEDUCTION Incurred in connection with change in work place Eliminated except for members of armed forces on active duty that move pursuant to military orders
CHILD TAX CREDIT $1,000 for each child $2,000 for each child
DEDUCTION FOR QUALIFIED BUSINESS INCOME OF PASS-THROUGH ENTITIES INCLUDING INDEPENDENT CONTRACTORS None 20% deduction of taxable income phased out above $157,000 ($315,000 if married) for brokerage services
DEPRECIATION RECOVER PERIOD FOR REAL PROPERTY (RESIDENTIAL RENTAL) Recover period is 27.5 years No change
DEPRECIATION RECOVER PERIOD FOR REAL PROPERTY (NONRESIDENTIAL) Recover period is 39 years No change
DEPRECIATION RECOVER PERIOD FOR REAL PROPERTY (LEASEHOLD IMPROVEMENTS) Recover period is 15 years No change

The Do’s and Don’t Of Home Staging in Torrance

Home staging is an important part of the preparation process when selling a house.  Whether fully staging the home using a professional stager, or simply de-cluttering and adding something to the owners current furniture, staging can make the difference between a home selling quickly and sitting on the market.  Here are a few pointers to help prepare your Torrance home for sale.  If you have given any thought to selling your home in Torrance or the South Bay, we can help.  Contact us for information on how we sell homes or find the value of your home in Torrance CA.

 

Video Tour of 4171 W 172nd Street in Torrance CA

Take a quick walkthrough the latest North Torrance listing from Keith Kyle of Vista Sotheby’s International.  To see the details of this charming single family home visit the MLS listing site.

For more information call/text us at 310.251.2344 or email at keith@keithkylehomes.com. We would be happy to set up a tour of the home.

Beautiful Single Family Home Coming Soon to North Torrance

New listing coming in 2018.  This fantastic 3 bedroom 2 bath home with almost 1400 square feet has been updated throughout and offers an open floorplan that’s perfect for today’s home buyer.   This home offers many impressive features, including a large open living and dining room with recessed lighting and hardwood floors. The remodeled kitchen has quartz counters, great cabinet space ,pantry, breakfast area and stainless steel appliances. The oversized master bedroom features walk-in closets, recessed lighting, newer carpet, direct yard access throuogh the sliders, and a spacious master bath with custom tile, dual vanities and more.   Head through the sliding doors, and enter a beautifully landscaped back yard filled with flowers, grassy yard, fruit trees, and spacious patio that is ready for entertaining  friends and family.  The property located in the great neighborhood area of Torrance with easy access to shops and freeways and walking distance to the famous Galleria Shopping mall.   Contact Torrance listing agent Keith Kyle for more information.

 

The Incredible California and Torrance Real Estate Market

California real estate is absolutely incredible and the markets in the South Bay and Torrance is even more frenzied.  According to the CAR 2017 annual housing survey 60.4% of all homes listed received multiple offers and 32.9% sold over the list price!  Click here to see the latest Torrance real estate statistics including prices, days on market % of list price homes are selling for and more.

111 Homes Sales in Torrance for December 2017

Torrance California saw a pretty typical and solid month finishing out 2017.  The median home price was $670,000 for the South Bay’s largest city which was a slight increase from $650,000 in December the year prior.  There were another month of impressive sales, with 111 homes sold during the month.  This is slightly lower than normal but not unusal for December.  Click here to see the current homes for sale in Torrance or view our recent home sales in Torrance CA.

City Homes Sold December 2017  Median December 2016  Median Year
over Year % Change%
Carson 47 $486,000 $451,000 7.8%
El Segundo 11 $966,000 $985,000 -2%
Gardena 65 $515,00 $465,000 10.8%
Harbor City 17 $572,000 $621,000 -7.9%
Hawthorne 30 $545,000 $555,000 -1.9%
Hermosa Beach 15 $2,003,000 $1,440,000 39.1%
Lawndale 12 $448,000 $510,000 -12.3%
Lomita 10 $595,000 $519,000 14.5%
Long Beach 284 $497,000 $465,000 6.9%
Manhattan Beach 36 $2,250,000 $1,790,000 25.7%
Marina Del Rey 31 $1,075,000 $841,000 27.9%
Palos Verdes Estates 27 $1,342,000 $1,599,000 -16.1%
Playa Del Rey 9 $612,000 $588,000 4.2%
Rancho Palos Verdes 58 $1,050,000 $1,170,000 -10.3%
Redondo Beach 78 $1,018,000 $987,000 3.1%
San Pedro 58 $485,000 $515,000 -5.8%

Torrance

111

$670,000

$650,000

3.1%

Westchester 38 $1,005,000 $985,000 2%

 

Places We Like – Strand Brewing Company in Old Torrance

If you like craft beer and the feeling that you’re in a “locals” type place, you may want to visit the Strand Brewing Company tap room.    It’s not a fancy place but has that cool vibe that you’ve found something that the tourists don’t know about.  As it’s a working brewery it’s basically part of their warehouse and brewery with a few park bench style tables.  They have shuffle puck, those bean bag toss games and videos of surfing but that’s about it.  They could do with a few TV’s to give it a bit more of a “bar” feel but as that’s not really what it is…who am I to give advice.  They have a great variety of beers and the people are very friendly.

They usually have several great beers on tap (brewed about 20 feet away) and although they don’t serve food there are “guest” restaurants and food trucks a few times a week.    If a casual off the beaten track experience is what you’re looking for…this could be your place.

Strand Brewing Company

2201 Dominguez Street
Torrance, CA 90501
(310) 517-0900