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Enoy the luxury of beach living! 2 bedroom/2 bath top floor townhome with ocean view!
833 5th Street, #8, Hermosa Beach, CA 90254
Sharp looking! Features large living room with high ceilings, ocean view balcony, open kitchen with breakfast bar, dining room area, romantic corner fireplace and half bath. Enjoy two good sized master suites, each with private baths and great closet space – perfect for roommates and privacy. Two-car attached garage with direct access to the unit. Freshly painted and brand new flooring throughout. Comes with a washer and dryer. Located just East of PCH. One pet may be OK. Built in 1988. 1,270 sq. ft.
Call Lucy Garber for more information or to see the townhome.
Over the past few months, a spate of good news about the U.S. housing market has led some to think a recovery is finally on the horizon.
The evidence is compelling. It now costs almost as much to rent as buy. Since the housing bubble burst in 2006, home prices have fallen by 33% nationwide — more than they did during the Great Depression. Waves of foreclosures and tighter lending standards have helped drive a surge in rentals. And during the third quarter, the median monthly mortgage payment totaled $698 compared to the median monthly asking rent of $700, according to Capital Economics, citing data from the National Association of Realtors and the Census Bureau. What’s more, the cost of borrowing has fallen to record lows, with interest rates for 30-year fixed rate mortgages hovering around 4%.
Builders are even building again. (Albeit, at a very modest pace). The California-based mortgage data provider also notes that existing home sales nationwide have been trending up, rising 12% higher in November 2011 compared with January 2011.
Since the housing market imploded, analysts have predicted year after year that prices might at long last bottom out. Will it finally happen this year? Perhaps next? Bottoming out necessarily precedes turning the corner — and until that happens optimists should be cautious. Economists widely cite the short-term obstacles weighing down prices. These factors range from high unemployment and household debt to the so-called “shadow inventory,” or all the properties that have yet to come into the market because of pending foreclosures or skittish homeowners delaying sales until prices improve.
Your friend in the business,
A Townhome located South Of PCH. A great open floor plan with high ceilings in the living area and a balcony for BBQ’s. A private master suite on the ground floor and 2 roomy bedrooms up stairs. The bathroom upstairs has been nicely remodeled. 2 car attached garage with laundry hook-ups. Close to shopping areas.
1,172 sq. ft.
Direct Garage Access
Built in 1980
Listed by Lucy Garber
Prudential California Realty