2694 Clarellen St. Torr.|$1,077,000

Wonderful Walteria home, in one of South Torrance’s most sought-after neighborhoods. This fabulous floor plan with vaulted ceilings, has 1 bedroom and 1 bathroom downstairs and 3 spacious bedrooms and 2 full baths upstairs. There is a bright formal dining room and adjacent living room with large windows. The kitchen dining nook is sunlit with views of the backyard and opens to the large family room with fireplace. The large Master bedroom features a huge walk-in closet and an over-sized on suite bath. The home includes a security system and central heat and A/C.

    

Remodeled San Pedro Home | $599,000

1163 W 25thAmazing opportunity to own a complete 2014 remodel in San Pedro’s Palisades area. The front yard is lushly landscaped with sod, planners, pillars, and fully gated with a rustic hardwood fence. The walkway and driveway are refurbished with new concrete. The entrance greets you with an open floor plan that incorporates a family room, dining room, and kitchen. The brand new gourmet kitchen has a stove with range, refrigerator, backsplash, and self-close custom cabinetry. The 3 bedrooms and 2 baths include a spacious master suite with walk-in closet, custom doors, a gigantic master bath with ceiling to floor tile, custom shower door and double sinks. Rustic stained refinished hardwood floors adorn the rest of the home. The second bath’s floor, wall, and tub are redone with travertine stone. Double pane windows where installed throughout.

What’s Happening in Our Local Markets | 3rd Quarter 2012

mark spector California – Los Angeles Region Real Estate Market Update …

The strong price growth this spring has had an important impact on the housing market. Rising prices lifted many

homeowners out of negative equity, improving confidence, enabling them to sell without a loss, and reducing the risk that

they might roll into foreclosure.
CLICK to Read The Local Market Report Here

 

New Medicare 3.8% Tax on “Unearned” Net Investment Income

With Obamacare moving full steam ahead, there are a lot of rumors and emails floating around about the “3.8% sales tax” that will be imposed on the sale of a home as of January 1, 2013.

Read Q&A from National Assoc. of Realtors HERE

Billing for the $150 Fire Prevention Fee

Starts on August 13, 2012

 According to Kevin Sparks at the California State Board of Equalization (“BOE”), billing for the $150.00 fire prevention fee will begin on August 13, 2012. Owners of California real property located in a state fire responsibility area / wildland fire zone (“SRA”) that have been assessed a fee of $150.00 per habitable structure should expect to receive a bill from the BOE before the end of this year.

 Sparks stated that “Billing will begin on August 13, 2012 and should be completed by December, 2012.” He also stated that billing throughout the state will be conducted alphabetically by county, so property owners in Alameda County’s SRA will be the first to receive their fire prevention fee bills, and Yuba County property owners will be last to receive their bills.

 The Governor signed AB 29 of the First Extraordinary Session (“ABX1 29”) into law on July 7, 2011. ABX1 29 imposes a $150.00 annual fire prevention fee per habitable structure for property owners in SRA. SRA lands cover about 31 million acres in 56 counties, and include an estimated 1.1 million to 1.5 million individual parcels, and approximately 800,000 habitable structures. Public Resources Code Section 4210 provides a legislative finding and declaration that the presence of structures within SRA can pose an increased risk of fire ignition and an increased potential for fire damage within the state’s wildlands and watersheds and that the costs of fire prevention activities should be borne by the owners of these structures. The BOE is required to annually assess and collect the fee from property owners on behalf of the California Department of Forestry and Fire Protection (CDF) in accordance with the Fee Collection Procedures Law. CDF is responsible for providing the BOE with a list of property owners who are liable for the fire prevention fee and the amount to be assessed.

 For more information from the BOE, please click on this link: http://www.boe.ca.gov/abx129.htm

San Pedro | Point Fermin Lighthouse Needs an Owner

Mark Spector | San Pedroposted: 7/30/2012 Read Comments (0)

 

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By: Taylor Hill

SAN PEDRO — Coast Guard officials are working to find a new owner for San Pedro’s Point Fermin Lighthouse. Letters of intent from groups interested in ownership were due July 2, with the final decision expected at the beginning of next year.

The move is part of the federal government’s effort to dispose of lighthouses across the nation that it says are no longer needed as aids to navigation because of technological advancements in vessels’ navigation electronics.

The National Historic Lighthouse Preservation Act of 2000 allowed a clear path for the federal government to relieve itself of costly lighthouse maintenance while also leaving the historic structures in the hands of capable and preservation-minded owners. The bill gives government agencies and nonprofit corporations a chance at being awarded a “free” lighthouse, as long as they maintain the property and act as lighthouse stewards.

Currently, the lighthouse is managed as a museum by the city of Los Angeles’ Department of Recreation and Parks. The department has worked with a team of volunteers on the property to run tours and maintain the lighthouse since its $2.4 million renovation and public opening in 2003.

“Our lighthouse is unique because of the combination of its wonderful history, its stick-style Victorian architecture and its beautiful surrounding gardens,” said Kristin Heather, the Point Fermin historic site curator.

Heather, a city employee, said the department has submitted its letter of intent to own the property and continue running programs at the site as it currently does.

Built in 1874, Point Fermin Lighthouse was the first navigational light on San Pedro Bay. The lighthouse’s stick-style construction was designed by Paul J. Pelz, a draftsman for the U.S. Lighthouse Board, and only three structures of similar construction remain standing.

The lighthouse remained in active use until Dec. 9, 1941, two days after the attacks on Pearl Harbor, and it was turned off during a coastal blackout, prompted by concern that the light might be used as a beacon for Japanese planes in an attack on the West Coast. The lighthouse operated as a lookout tower through the duration of the war, and the light was never turned back on. Point Fermin Lighthouse was placed on the National Register of Historic Places in June 1972.

Since its passage 12 years ago, the National Historic Lighthouse Preservation Act has facilitated the ownership exchange of 84 lighthouses to new stewards.

The process requires three separate agencies to work together: The Coast Guard must identify which lighthouses are no longer required as aids to navigation and pass that information on to the General Services Administration, which must issue a Notice of Availability.

When letters of intent are received from prospective owners, the application process is handled by the National Parks Service, which awards the lighthouse to the organization it deems most deserving.

According to Point Fermin’s Notice of Availability, the site must be used for education, park, recreation, cultural or historic preservation purposes, with commercial activity prohibited unless approved by the Secretary of the Interior.

The 3.5-acre property includes the lighthouse tower and surrounding garden, an office and garage building, a concrete storage structure, an electronics shack, a former guest quarters structure and a non-operational light signal beacon.

Point Fermin Lighthouse is open from 1 to 4 p.m. Tuesday through Sunday, and it is closed Mondays.

White Point Landslide Report now available

by sanpedropalisades

After months of galvanizing. collaborative community and neighborhood leadership by Terry Miller, Dave Behar, Mike Browne, Richard Havenick and the Coastal Neighborhood ad hoc Landslide Committee, the City’s Engineering Team and related agencies, including Council District 15, have released the report we have been waiting for.

Department of Engineering committed to completing the Palisades Residents Association initiated “turnarounds” at the ends of Paseo Del Mar, within the next few months for the needed temporary traffic flow and crime mitigation solution.

The White Point Landslide Report is now available at: http://eng.lacity.org/whitepoint/whitepointlandslide.htm

Preliminary (new) FAQ:

1. Is the land currently stable?

Yes. No movement has been detected since the November landslide.

2. What are the causes?

Water and gravity. Precipitation, irrigation, and to a lesser extent, coastal bluff erosion may have contributed to the development of the White Point Landslide. Residential development in the area may have also contributed to the landslide because of its influence on groundwater infiltration.

3. What needs to be done immediately to protect the area around the slide?

Dewatering, ground anchors, and grading should be done before the next rain season. This will cost $6 to $7 million and will be undertaken immediately by the City.

4. What are the options for long term remedies?

1) re-routing the road around a landslide buffer zone ($4 to $8 million)

2) partially re-grading the landslide debris and adjacent area to restore the road to its previous alignment across the existing landslide ($4 to 8 million)

3) supporting the road at its previous alignment with a soil buttress ($42 to $50 million)

4) supporting the road with a retaining wall ($22 to $27 million)

5) or spanning the landslide with a bridge ($57 to $62 million)

These 5 options have obvious financial concerns and some legal implications that will need to be considered in the upcoming months. Most importantly, the public will be consulted to come up with the best solution for the immediate neighborhood and the community at large.

12 Months Housing Inventory For San Pedro Is Going Down

Housing Inventory over the last 12 months in 90731 & 90732 has fallen from 6.3 months worth of houses to 2.3 months worth of houses. And if you look at the inventory not counting the pending sales we are down to just over 1 months worth.

Canadians Cashing in on Low US Real Estate Costs

One of the most notable signs of the ongoing recession in the US is the fact that the American dollar is now on par with other currencies – like the Canadian dollar. Another sign of the current economic woes is the lingering malaise in the real estate sector, though there are signs of improvement. Canadians are taking advantage of both of these facts, and are buying up real estate across the border in the US. What are the benefits offered here?

One of the most significant benefits for Canadians entering the US real estate market is the fact that they do not have any income tax concerns, so long as the home is used for personal reasons. For instance, if a Canadian family wanted a second home in the US, or a vacation home that would remain empty when the family wasn’t using it, then there are no issues. Once income is generated from the home (through rent or use as an investment), that changes.

Another benefit to Canadian homebuyers eying the American market is the fact that they can take advantage of some of the lowest prices in history, at a time when the Canadian loonie is at its highest point in three years, compared to the American dollar. Simply put, there has not been a better time to own a home across the border in a very long time. Of course, Canadians interested in making this move should ensure that they use the services of an agent who knows their way around across-the-border real estate transactions.

 

Harbor Highlands | New Housing In San Pedro

Harbor Highlands is the new housing development in San Pedro built by Standard Pacific Homes.

The neighborhood offers single family home from 1,790 to 1,936 square feet. The largest unit is 4 bedroom 2 1/2 baths, this is a gated community and will have 133 homes when complete.

The complex will have a  community pool, the approximate HOA’s will be $293 at the start and should go down to an estimated $114 per month after the completed build out. The dues include maintenance of all common area’s, front yard landscaping, entry gate and community pool.

They are selling homes already but they told me the full complex completion will take about 2 1/2 years.

I can get you a $2,000 finder’s fee if you go down to the complex your first time with me so I can register you.

Call me at 310-430-0633

If you are thinking of buying or selling a home, condo or investment property call me Mark Spector 310-430-0633