One of the big misconceptions with home buyers, especially first time home buyers, is that you need at least 20% down. That’s often not the case with lenders offering FHA loans with as little as 3.5% down and traditional lenders funding loans with as little at 5%. The lower amount is much easier if it’s a single family home but there are options:
See the Homes That We Have Sold in Southern California
By Keith Kyle
We are so fortunate to have worked with so many wonderful people and in such a great area. It just doesn’t get much better. See the map below to view all of our local home sales. Although we’ve sold more homes in Torrance and Redondo, we have been lucky enough to sell throughout the area, from Santa Monica to Huntington Beach. Many of these were first time buyers and are now happy homeowners. The red marks are home sales in which I represented the buyer, the orange marks represent homes that I listed, and the blue marks represent homes in which I represented both buyers and sellers. Click on the marks to see pictures of the various homes and properties.
You can also see the interactive map of our South Bay home sales on Google.
Flipped Homes Becoming Commonplace in North Torrance
By Keith Kyle
You don’t have to look far to see that investor owned “flipped” houses are a significant portion of the active home listings in North Torrance. Investors have long sought out homes in this area as many homes, most built post WWII in the late 1940’s and 1950’s, have not been updated in any significant way but are usually well built and structurally in good shape. Those factors, along with great schools and highly sought after neighborhoods, have made North Torrance a fairly ideal market with low inventory and prices on the rise since early 2013. Gone are the days of distressed sales and short sales, so the margins have grown much tighter but given the demand, expect to see an abundance of remodel and flipped property in 2015. Below are just a few of the recent flips but there are certainly others and will be more coming to the market. Contact us about any of these homes, to find out about upcoming remodels or to look for potential investment/”as is” opportunities.
3318 Artesia Blvd.
4171 W 172nd Street
4348 W 179th Street
4312 W 178th Street
Current homes for sale in North Torrance
- List View
- Map View
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$698,000-
Lot Size5,506 sqft
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Home Size1,577 sqft
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Beds4 Beds
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Baths2 Baths
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Year Built1959
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Days on Market4
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$615,000-
Lot Size5,493 sqft
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Home Size842 sqft
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Beds2 Beds
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Baths1 Bath
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Year Built1953
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Days on Market6
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$725,000-
Lot Size4,897 sqft
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Home Size1,482 sqft
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Beds4 Beds
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Baths2 Baths
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Year Built1951
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Days on Market14
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$1,100,000-
Lot Size5,358 sqft
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Home Size2,264 sqft
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Beds
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Baths
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Year Built1953
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Days on Market25
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$975,000-
Lot Size5,968 sqft
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Home Size2,287 sqft
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Beds4 Beds
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Baths3 Baths
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Year Built1952
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Days on Market27
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$1,100,000-
Lot Size17,503 sqft
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Home Size2,151 sqft
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Beds4 Beds
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Baths3 Baths
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Year Built1956
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Days on Market32
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$1,100,000-
Lot Size17,503 sqft
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Home Size2,151 sqft
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Beds
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Baths
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Year Built1956
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Days on Market40
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See all Real estate matching your search.
(all data current as of
9/23/2019)
Listing information deemed reliable but not guaranteed. Read full disclaimer.
Neighborhood Spotlight – Southwood
Sitting between West Torrance and South Torrance is the wonderful neighborhood of Southwood. This small area also sits just east of Redondo Beach and the proximity to the ocean means milder weather and great 
ocean breezes that other parts of the city don’t enjoy. Comprised mainly of 1940s and 1950s beach style bungalows, the area is still more affordable than some of the nearby beach cities while still having a certain charm lost in some of these other areas with oversized homes, makes a statement type architecture and over development. Some homes have gone the route of maximum square footage, but the majority still look like homes that belong in the neighborhoods and give homeowners a bit of space and separation. Although prices are still below neighboring South Redondo, they have risen dramatically in the past 2 years with most original smaller 3 bed/1 bath homes starting in the mid to low $600’s for fairly original, but nice condition, and the larger 3 bed/2 bath 1400 foot (many homes added a family room accounting for the extra square footage) selling anywhere from the mid to low $700s up to the low $900’s depending on location and condition.
What makes the area so special is the community feel, with an abundance of parks, dog parks and schools all within walking distance. A quick drive down just about any street says it all with pride of ownership being quite apparent. Manicured lawns, updated homes, tree lined streets and an abundance of neighbors walking the area makes for a great atmosphere. Contact us if you are interested in learning more about Southwood or would be interested in receiving free email updates with the latest listings.
Current Southwood homes for sale
Sorry, but we couldn't find any results in the MLS that match the specified search criteria.
What Will Your Tax Savings Be By Owning a Home?
One of the more frequent questions lenders get when pre-approving a client for a new home is “How much will this new home save me on my
tax bill each month”? Many home buyers use the monthly tax savings to offset the increase in housing expense that a new home can bring. The savings can help the buyer to budget for a higher priced home which could make it possible to live in a more desirable neighborhood, possibly reap the benefits of higher property appreciation and help the buyer to have better resale options.
To help illustrate a home buyers potential monthly tax savings, the below chart shows the loan amount, monthly tax savings and how the monthly tax savings could be used to increase purchasing power.
| Loan Amount | Monthly Savings | Increase in Purchase Power |
| $250,000 | $297 | $56,000 |
| $300,000 | $356 | $67,000 |
| $350,000 | $416 | $80,000 |
| $400,000 | $475 | $94,000 |
| $450,000 | $534 | $103,000 |
| $500,000 | $594 | $113,000 |
| $550,000 | $653 | $124,000 |
| $600,000 | $712 | $137,000 |
| $650,000 | $772 | $146,000 |
• Above based on mortgage interest rate of 4.75%, and a Federal Tax Brackett of 30.%
• Source: homes.yahoo.com – Figures to be verified with your CPA
Who Pays for What During Escrow in Torrance?
By Keith Kyle
Closing Costs – Who Generally Pays What In a Torrance CA Escrow
Keep in mind that the charts below are based on the standard allocation of costs in Torrance. As with any detail of buying a home everything is negotiable including who pays what costs during the transaction. In addition not all of these costs exist in every transaction and many are dependent on the lender, escrow company and the details of the offer.
Title Fees
|
Cost |
Customarily Charged By/To:
|
Description
|
| Owners Title Policy | Title:To Seller | Fee for the title policy. Calculated using the sales price.May be reduced if home was purchased or refinanced inthe last 5 years. Insures that the title is as agreedto at closing |
| LendersTitle Policy | Title:To Buyer | Title policy issued to lender to cover the amount of the loan.Based on the loan amount unless it is a negative amortizationloan. |
| Sub Escrow Fee | Title:to Buyer & Seller | Fee to administer the payoff of loans or property taxes of the seller and collection of funds from the new lender |
| Document Transfer Tax | County: to Seller at $1.10 per thousand of sales priceCity: No transfer tax in Torrance | Fee charged on all properties that transfer title – based on sales price. |
| Record Release/Reconveyance | County:To Seller | Charge to record the release/reconveyance |
| Federal Express/Messanger Fees | Federal Express: to Buyer & Seller | Charge to deliver all time sensitive documents and monies |
| Title/Wire Fee | Banking Instituion: to Buyer & Seller | Charge to wire funds to escrow, seller, lenders, etc |
| Electronic Recording | County: to Buyer | Charge to electronically record the document |
| Record Grant Deed | County: To Buyer | Charge to record the grant deed |
| Record Trust Deed | County: To Buyer | Charge to record the trust deed. |
| Messenger | Messenger Service: To Buyer and Seller | Charge to special messenger documents during the escrow: Fee varies with distance |
| Lender’s Endorsement | Title: to Buyer | Charge for endorsements required by lender to cover “outside the normal” risk circumstances |
Escrow Fees
|
Cost
|
Customarily Charged By/To:
|
Description
|
| Escrow Fee | Escrow: Each pays own | Covers liability assumed as well as standard processing costs. |
| Demand Fee | Escrow: to Seller | Charge to request a statement & process involved in getting a payoff figure to escrow on the outstanding amount of the current loan. One demand fee per loan. |
| Process HOA Docs & Transfer Fee | Escrow: Seller | Fee for processing required to assign membership for HOA a& copying all governing documents |
| Document Fee | Escrow: to Buyer | Covers the cost of all processing required to meet new lender requirements |
| Loan Tie-In Fee | Escrow: to Buyer | Covers the cost of all processing required to meet new lender requirements |
| Federal Express | Federal Express: to Buyer | For document packages to out of County Lenders. |
Lender Fees
|
Cost
|
Customarily
Charged By/ To |
Description
|
| Origination Fee | Lender: to Buyer | Charge for lending money at 1% of the loan amount |
| Documentation Preparation | Lender: to Buyer | Paid to lender for preparation of final loan documents |
| Tax service | Tax Service: to Buyer | Fee charged to buyer to set up property taxes with the state |
| Wire | Banking institution | Charge for the wiring of funds to title for closing |
| Underwriting | Lender: to Buyer | Fee to direct lender for the process of approving |
| Tax impounds | Lender: to Buyer | Collected to create an impound reserved account for the lender to pay property taxes twice a year |
| Prepaid Insurance | Lender:to Buyer | Generally 1yr of hazard insurance collected for impound reserve account |
| Appraisal | Appraiser:to Buyer | Paid directly to appraiser for appraisal of property |
| Credit Report | Lender: to Buyer | Paid to credit bureau for report containing 3 credit scores |
| Processing | Lender: to Buyer | Paid to mortgage broker for processing loan package from application to closing |
Disbursements
|
Cost
|
Customarily Charged By/ To
|
Description
|
| HOA Transfer Fee | HOA Management: to Buyer | To transfer ownership and handle new accounting set up |
| HOA Dues | HOA Management: to Seller | Paid through month of closing |
| Fire Insurance | Insurance Agency: to Buyer | 1 year prepaid premium for Homeowners insurance |
| Notary | Notary: to Buyer |
Payoffs
|
Cost
|
Customarily Charged By/ To
|
Description
|
| Recording Fee | Existing Lender: to Borrower | Charge for having reconveyance recorded. |
| Statement forwarding fee | Existing Lender: to Borrower | Charge for issuing a payoff statement |
Credits and Prorations
|
Cost
|
Customarily Charged By/ To
|
Description
|
| HOA Dues | Seller: to Buyer | Calculated from date of COA through month-end |
| County Property Taxes | Seller: to Buyer | Calculated from the date of payoff through end of period paid for. |