Every year editorial staffers get together various criteria to decide on the 10 best places to live in the country. Your criteria may not be the same, however, Money Magazine's annual article is a good way to find an overview of statistics and information, and make some comparisons.
Cerritos, for instance, has one of the top-rated high schools in the country whose students' scores far exceed the national average and outperform schools in the top 10 cities, it provides many amenities for its residents, but is not one of the top 10. For one thing, the median housing price is much higher there than the 10 selected cities. And, typical of Southern California, the air quality is lower compared to New Hampshire or Florida locations. However, Claremont is Number 5 on the 10 Best Places ot Live list, so air quality is not the only issue. And Lake Mary, Florida, (Number 4) has twice the diabetes rate than Cerritos.
But other things that change are insurance premium costs, property tax rates, crime rates, and average income. In a city such as Long Beach, the average income shows much lower than Cerritos because Long Beach is a very widely diversified city with extremes in income and demographics.
But even with all the California-bashing going on now, it has the most cities in the 1op 100 of any other state--9 in all, 5 are in Southern California: Claremont 35,900; Clayton 11,400; Coronado 25,900; El Dorado Hills 22,200; Grand Terrace 13,200; Granite Bay 24,800; La Mirada 48,600; La Palma 16,100; Moorpark 33,700.
7/27/2007
7/23/2007
Long Beach Housing and Traffic
City government sometimes gets lost in the shuffle of the more immediate concerns of day-to-day life, foreclosures, media coverage of housing, more foreclosures and homeland security. But it shouldn't be, because your local areas are often under one sort of study or another over a period of years.
The traffic congestion in the area of 2nd St and Pacific Coast Highway yesterday afternoon was huge coming through Belmont Shore, over the bridge towards the 405 Freeway after the conclusion of weekend recreational events along the shoreline. What perhaps a lot of people don't know is that this intersection has been the subject of a study called the South East Area Development Improvement Plan since the 1970s, a study that has been in the process of renewal and updating, and broadcast at local community meetings. The latest studies include wetlands restoration, bike paths, changes in local shopping areas, and the addition of new housing. Lennar Homes, for instance, has had a proposal for housing development in the location of the Seaport Marina Hotel for some time. Take a look at this informative slide show by the City's SEADIP Advisory Committee for ideas that may impact your living, driving, biking or shopping in that area.
7/18/2007
Field Trip to Other Blogs
Here's a little review today on blogs involved in small business situations or are self-employed:
Don Simkovich in Altadena does interviews or takes tips from people knowledgeable in business, money and real estate with the goal of leaving the reader with one important tip or idea they can "take away" and apply to their situation or help them evaluate their needs. "For example," Don says, "I've got an upcoming interview I'll be doing with a coffee company, they grind their own coffee, and I'll be asking them how they chose their business, what they've learned and what's one tip they'd like to offer to someone starting their own business." Maybe you too can get an idea here!
For a break from the serious issues into the world of lighthearted shopping for stuff you might actually need take a look at Cool Steals and Deals for anything from a computer to linens. This site is run by a lady who recently and unexpectedly lost her spouse, so it would be great to support her and her site, because her site is definitely "cool".
Long Beach
Don Simkovich in Altadena does interviews or takes tips from people knowledgeable in business, money and real estate with the goal of leaving the reader with one important tip or idea they can "take away" and apply to their situation or help them evaluate their needs. "For example," Don says, "I've got an upcoming interview I'll be doing with a coffee company, they grind their own coffee, and I'll be asking them how they chose their business, what they've learned and what's one tip they'd like to offer to someone starting their own business." Maybe you too can get an idea here!
For a break from the serious issues into the world of lighthearted shopping for stuff you might actually need take a look at Cool Steals and Deals for anything from a computer to linens. This site is run by a lady who recently and unexpectedly lost her spouse, so it would be great to support her and her site, because her site is definitely "cool".
Long Beach
7/15/2007
Does Your Avocado Oven Scream "Fixer"?
According to this article it does. But I think it all depends on who you are (and the condition of the oven). If you're a retro person, the 1950's, 1960's, and 1970's may look like fun to you, or you may not care what year it was all made as long as it runs.
But to take into consideration all the things that go into pricing your property, "No Magic Formula" makes its point very well. Just as one oven doesn't predict a price, neither do other factors without considering the overall picture of size, number of bedrooms and bathrooms, amenities, condition, the current market trends, and location, location, location. Price may change 10% or more depending on whether or not the owner has an ocean or water view, or if the property borders a commercial area. It also depends on perceptions about an area or property, or whether or not the upgrades match area expectations. If every other house has an upgraded kitchen and bathroom, and yours does not, that will probably affect the selling price of your home unless you have other compensating factors that would be desirable to your buyer. That means you're waiting for just the right buyer and your house would probably sell faster if you had the upgrades that most of the other homes have in your area.
For buyers who worry about paying more than a home is worth (and there is no real estate cycle where this is not a fear), I could not agree more with the concluding quote of this article:
But to take into consideration all the things that go into pricing your property, "No Magic Formula" makes its point very well. Just as one oven doesn't predict a price, neither do other factors without considering the overall picture of size, number of bedrooms and bathrooms, amenities, condition, the current market trends, and location, location, location. Price may change 10% or more depending on whether or not the owner has an ocean or water view, or if the property borders a commercial area. It also depends on perceptions about an area or property, or whether or not the upgrades match area expectations. If every other house has an upgraded kitchen and bathroom, and yours does not, that will probably affect the selling price of your home unless you have other compensating factors that would be desirable to your buyer. That means you're waiting for just the right buyer and your house would probably sell faster if you had the upgrades that most of the other homes have in your area.
For buyers who worry about paying more than a home is worth (and there is no real estate cycle where this is not a fear), I could not agree more with the concluding quote of this article:
"Buy a home because you like it, you want to live there, and you're OK if the market goes up, and you're OK if the market goes down."
7/10/2007
Mid-Year California Forecast in a Nutshell
A lot of people are searching for clues for market direction. The broad picture continues: Sales are fewer, selling prices remain fairly strong. Areas and counties vary somewhat depending on their local economy. For more information from this mid-year forecast by the California Association of Realtors, please contact me.
Contact me if you would like a current market analysis of your property in Los Angeles or Orange County, or free listings from the MLS.
7/08/2007
Deciding on the Right Home Improvements
How do you know the right home improvements to make? It's not a one-size-fits-all. Knowing the architectural style of your home, the economic level of your neighborhood, and the usual percentage of return are things to keep in mind.
What do buyers expect to see when they walk in the door of a Mission revival or a Craftsman bungalow, or a 1950's tract home? Buyers sometimes miss your perspective and decide instead they might have to spend more money to rip it out. Are you installing a new floor to please yourself because you'll probably be there for the next five years, or are you contemplating selling in the near future? If the latter is the case, you'll probably want to make an improvement for curb appeal, not for the most expensive appearance. Staging your home for sale could put your home sale on a faster track for an offer, and might help to compensate for the neighborhood factors or other property features if a buyer can see himself living in it as a result. One of the best improvements: an outdoor patio or deck, new kitchen upgrades. One of the worst improvements: very customized spaces such as a wine cellar, sauna--or expensive technology installations such as a CAT5 cable that are outdated by the time the house sells.
Long Beach
What do buyers expect to see when they walk in the door of a Mission revival or a Craftsman bungalow, or a 1950's tract home? Buyers sometimes miss your perspective and decide instead they might have to spend more money to rip it out. Are you installing a new floor to please yourself because you'll probably be there for the next five years, or are you contemplating selling in the near future? If the latter is the case, you'll probably want to make an improvement for curb appeal, not for the most expensive appearance. Staging your home for sale could put your home sale on a faster track for an offer, and might help to compensate for the neighborhood factors or other property features if a buyer can see himself living in it as a result. One of the best improvements: an outdoor patio or deck, new kitchen upgrades. One of the worst improvements: very customized spaces such as a wine cellar, sauna--or expensive technology installations such as a CAT5 cable that are outdated by the time the house sells.
Long Beach
7/06/2007
Mello-Roos and Property Taxes
I frequently am asked about Mello-Roos Districts by those who aren't sure what they are or where they are located.
These districts were formed after the enactment of Proposition 13 in 1978 which was voted in to restrict public agencies' ability to increase property taxes based on assessed value. The 1982 Community Facilities Act was passed which gave government an alternative method to finance improvements and services.
While any county, city, school district, special district or joint power authority has the power to institute a Mello-Roos district, these districts, which are created to fund infrastructure such as streets, sewers, police protection, fire protection and similar services, are usually part of a new development which does not already have these services. They are more often found in areas such as Orange County or Riverside County where there are more post-1978 developments. The tax is not based directly on property value, but on other characteristics such as square footage and lot size of the property. It must be voted on by two-thirds majority vote by those residents living within the proposed boundaries. Large tax amounts may be funded through bonds issued by the District. There may be an ongoing maintenance fee even after the bonds are paid off.
The Community Facilities District does have the separate power to foreclose, making it all the more important to pay your taxes on time. Notice of the tax amount, if it is in your area, is found in the Notice of Special Tax which the seller must make a good faith attempt to provide to the buyer during escrow.
7/03/2007
A Note for the 4th of July
It's only fitting to check in at the site for Monticello, home of Thomas Jefferson, not only because he was a President, but also his final day is recorded on a July 4 (but back in the 1800s).
Tomorrow, 76 people from 36 counties will become United States citizens in a ceremony at Monticello. These ceremonies for Monticello started in 1963, are presided over by a local judge and are accompanied by patriotic music by the Charlottesville Municipal Band.
If they haven't bought their new U.S. home yet, we hope they will soon. Many Americans don't realize that the United States is one of the very few countries where a buyer can obtain a 30-year mortgage without discrimination towards age, marital status, race, or gender discrimination, with zero down if need be. The variety of loan options available in this country does not exist in many countries where 20% down is still the standard.
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