Igor Nastaskin, Author at Live in the Hollywood Riviera

House Hunting? Get To Know The Neighborhood Without Leaving Your Computer

The characteristics of the perfect home aren’t restricted to what’s inside the four walls. The neighborhood in which the home is located is equally important. Finding out more about the locale can be challenging if you’re not a local. Use technology to familiarize yourself with a neighborhood before you settle on a home. Get Insider Info You can find out more from Neighborhood Scout than you might from living in the neighborhood. Enter your address and check out graphs and charts that display the neighborhood’s walkability, general noise level, crime rate and trendiness. You’ll also learn about potential neighbors’ occupations, education level and marital status. Walk Around Take a virtual promenade using an app called Walc. It will show you how to get to your favorite landmarks from any address, and you can determine whether it’s worth it to make the journey by foot. To find out how walkable a neighborhood is, enter the address at Walk Score. The website rates areas based on their proximity to parks, schools, amusements and other locations. You’ll find out whether you need to hop in your car for every errand or whether you can manage your mission by bike or on foot. If you want to get a sense of what the neighborhood looks like, the satellite and street views on Google Maps let you feel like you’re actually there. Are the houses packed together, or is there ample yard space? Explore actual photos of the community to feel like you’re really there even if you’re not.

Getting a Read on a Local Treasure: The El Retiro Library

Ernest Hemingway once said, “There is no friend as loyal as a book.” In this age of computers and online resources, one could add, “there is no search engine as competent as a librarian.” Before the days of Google and Yahoo, before paid advertisements followed you every time you sought answers using a keyboard, there were librarians. Librarians – those hard working public servants who know the answers to questions you didn’t even know to ask (or at least they know where to find those answers). And much to our great fortune our local library, El Retiro, is where you’ll find one of the most seasoned librarians around. Jay Spradlin has been in the business of helping people find books for more than three decades. He was a Torrance library page (the entry level position) at just 16 years old, and was mentored by a librarian who knew her patron’s preferences so well she would call them when a book came in she thought they’d enjoy. Jay has been at El Retiro Library for almost a dozen years, where he specializes in youth services overseeing children’s collections and programming Parents of young children are probably familiar with El Retiro’s popular Toddlertime, where Jay reads stories to youngsters and leads them in songs. Older children are drawn to the library for the summer reading program as well as after school events held year round. Jay oversees the ordering of nearly 1,000 new books each year for children and youths. El Retiro is equally loved by adults, both for its collection of books, magazines, movies and CDs as well as its public computers and book discussion groups. The library was built in 1958 and has undergone at least two expansions and renovations, including one in 2009 to provide new seismic shelving, wireless internet and more. Over the years, The Riviera Garden Club has overseen landscaping in front of the library, in addition to the painting of a colorful mural completed in 2014. Next to the library, El Retiro Park is situated on 4.78 acres of land – formerly used as a tree nursery — acquired in parcels from 1945- 1950. A youth center was built in 1960 with money donated by the Hollywood Riviera Rotary Club. Today, the park features two recreation buildings (one with a kitchen), lighted tennis courts, play equipment, a rotunda, a picnic area with barbecues, a small softball field, a basketball court and restrooms. Stop by and enjoy our community treasures, El Retiro Library and park: 126 Vista del Parque, Redondo Beach. The library is open Monday – Thursday from 11 am – 9pm and Saturday from 10am – 5pm. Phone: 310-375- 0922. Click Here to read Igor’s full Newsletter on Scribd.com – http://www.scribd.com/LiveInHollywdRiviera

Affordable Housing a Challenge in 2016

The Economic & Strategic Research (ESR) Group, a division of Fannie Mae, believes that the central theme of the housing market and the general economy in 2016 should focus on the challenge of affordable housing. The economy has expanded for seven straight years, but 2016 is projected to show only modest growth. In the January 2016 Economic & Housing Outlook, the ESR Group explains that a continued tightening of the labor market will increase average household income and improve job security while relaxed lending practices will make mortgages more obtainable. However, this will be offset by a sharp rise in home prices at the low end of the market, making houses less affordable for many potential buyers. The ESR forecasts that the overall economy will experience growth of 2.2 percent over the course of the year, which will be largely driven by government spending and investments in residential housing. As economic activity in China decreases, the dollar will grow stronger, but this could be jeopardized by new economic policies and disorder in the geopolitical arena. Doug Duncan, the chief economist at Fannie Mae, stated that the ESR Group predicts that despite the first federal rate hike since 2006, mortgage rates will only rise gradually and will hover around 4.2 percent at the end of 2016. However, “home price and income dynamics” will create a threat to the availability of affordable homes. Duncan said that another factor contributing to decreased affordability is a rise in rent prices, which means renters will not be able to save as much money for down payments.

The 20 Hottest U.S. Real Estate Markets in January 2016

December 2015 was certainly unseasonably warm through much of the nation, especially across the eastern portions. As January’s weather is regulating, real estate patterns are returning to normal as well. This means fewer properties are for sale. Also, existing listings are crawling at a snail’s pace. Fortunately, the market may be poised to spring up like planted seeds waiting for the sunshine. There are signs that buyers will pounce soon. The initial data is showing positive growth will continue throughout the year. More and more potential buyers are searching the web for listings. It is a sign that spring and summer will be popular times for home purchases. Now, buyers have little selection. As with the normal winter pattern, sales have slowed. However, January 2016’s median age of inventory is 100 days, which means homes are selling 4 percent faster than one year ago. The median list price is now $227,000, which is up 8 percent as well. After identifying how many times listings have been viewed and the age of inventory in the country’s biggest markets, economists were able to pinpoint the top 20 cities enjoying the most action. In these areas, listings were viewed up to five times more than the national average and sold 30 to 50 days faster. San Francisco led the list and joined another 10 California areas that dominated the top 20 hottest real estate markets for 2016. Nashville made the largest gain and ended in the top 10. Multiple cities in Texas and Florida made the list as well. Florida seems to be gaining momentum and may overcome California in the coming hear.

Why the December rebound in home sales?

According to the National Association of Realtors, from November 2015 to December 2015, existing home sales increased by 14.7 percent. Instead of the housing market outperforming expectations, this boost was due to the 11 percent drop seen in November, which was caused by “TRID.” TRID stands or TILA-RESPA Integrated Disclosure. TRID involves a new set of federal regulations. The acronym stands for “Know Before You Owe.” This is meant to help you from being caught off-guard by the hidden costs and fees associated with home loans. These risks make lenders disclose all the fine print of the loans prior to closing. Before making a huge commitment, you have plenty of time to review the terms and ask questions. TRID became effective in October and delayed November closings. It took time to adjust computers and adhere to the new protocol. Fortunately, December was a stronger month. Although December 2015 closings took a week longer than the previous year, it was due to factors other than TRID. For instance, rates remained lower than expected, so more lending applications were pushed through. These high numbers took longer to process. Even though this seems like an insignificant amount of time, quite a number of homes can close in a few days. With the TRID problems solved, delays will not be a large dilemma. A bigger challenge you may find as you enter the housing market is the lack of inventory available. As the busy spring boom is approaching, this may mean more headaches will develop.

Mortgage Industry Terms Explained

The mortgage world has its own language. To help you navigate your way through it, we’ll describe key mortgage terms to help you understand what they mean. Down Payment When you agree to purchase a home, most lenders require money up front. In the mortgage world, this is called a down payment. For a home, the down payment amount is typically 20 percent of the purchase price. Closing Costs When you arrive to close on your loan, you will be responsible for closing costs. This added expense consists of the many fees charged to process the loan. You will receive an estimate of your closing costs before you arrive to sign for the loan. Principal If you’ve accomplished the herculean task of making your down payment, then the remaining amount that you owe the lender is the principal balance. Plan to pay this amount for the next five to 30 years. Interest When you borrow money, the lender will charge you for the privilege. In the same way that you pay interest for a car or credit card loan, you’ll be paying interest on your home loan. The interest amount is a percentage of your total loan. Fixed-Rate Mortgage The term “fixed-rate mortgage” refers to the interest rate. A mortgage with a fixed rate will not change for the life of the loan. Because the rate is set, it will likely be higher than adjustable rates at first, but over time, this could change. Once you’ve agreed to the initial financing terms, your lender will enact a rate lock. This will stop your rate from rising before you close. Adjustable-Rate Mortgage or ARM An adjustable-rate mortgage will have a changing interest rate. This can be good or bad depending on the market. To determine the rate, your lender will use the current ones set by the industry. ARM caps put a limit on how high the rate can rise, but with this stipulation in place, you may pay more. Points In the mortgage industry, you can buy points up front to decrease your interest rate over the long term. The bank will base this amount on your principal balance, so one point is 1 percent of the loan balance. Plan to pay for points in your closing costs.

Housing Market Forecasts and Predictions

It is that time of year again. The time of year when the real estate industry tries to prognosticate what the housing market will look like for the new year. Here are the best (and maybe the worst) predictions for 2016: Home prices will rise more slowly in most U.S. cities: Over the last couple of years, we have seen home prices rise rapidly in many parts of the country. This was often the result of a supply and demand imbalance. In many large metro areas, there were plenty of home buyers on the market but not enough homes to meet demand. Prices tend to rise rapidly under such circumstances. In July of 2015, the financial data company CoreLogic issued a forecast for the U.S. real estate market that predicted a 4.7% rise in national home prices through July 2016. The biggest home-price gains will continue to be in the West: In 2015, some of the biggest home-price gains occurred in the western part of the nation. Cities in Colorado and in California experienced double-digit gains in property values. Denver and San Francisco, for example, both posted year-over-year gains of +10%. These markets could experience some cooling in 2016, but many housing analysts expect that the biggest home-price gains will continue to occur in these western markets. Mortgage rates will rise later this year and into 2016: At the end of 2015 the average rate for a 30-year fixed mortgage averaged 3.85%. The 30-year average has been hovering at or below 4% for most of 2015. In the fall, Freddie Mac (the government-regulated buyer of mortgage loans) issued a housing market prediction for 2016. In it, the company’s chief economist forecasts that the average rate for a 30-year fixed home loan would gradually rise to 5.1% by the end of 2016. If rates do start to rise gradually this year, we could see a slight reduction in home-buying activity, but this could be offset by continued improvements in the job market and broader economy. Job gains will bring more home buyers into the market: Since 2014 the U.S. gained about five million jobs, according to Doug Duncan, chief economist at Freddie Mac. This means there are more people in a position to buy a home which could lead to a demand for housing. On top of that, many cities across the country are still suffering from a shortage of homes for sale (relative to demand). This supply-and-demand imbalance could continue to push home prices up in 2016, as buyers compete for limited inventory. Student loan debt will keep many Millennials out of the market: Accord-ing to a recent analysis by the Federal Reserve, outstanding student loan debt now totals more than $1 trillion and it is keeping many would-be home buyers from entering the market. Student loan debt can create additional hurdles for mortgage shoppers in a couple of ways. For one thing, it increases the borrower’s total debt-to-income ratio, which can cause problems during the underwriting and approval process. Additionally, excessive debt can lower a person’s credit score. All of this makes it harder for debt-burdened Millennials to qualify for home loans. Is student loan debt going to be the next big financial crisis for the U.S.? We will have to wait and see, but in the meantime, it will almost certainly affect the housing market. Please note – This article offers a collection of real estate market predictions and forecasts for 2016. Such forward-looking statements should not be viewed as facts or financial advice. They are the equivalent of an educated guess. As with any prediction, there are no claims, assertions or guarantees regarding the U.S. housing market in 2016. Click Here to read Igor’s full Newsletter on Scribd.com – http://www.scribd.com/LiveInHollywdRiviera

Spicy, Sweet and Undeniably Delicious: Local Favorite Has a Loyal Following

When it comes to Cathy and Miguel Esquivel, you can have your cake and eat it too. And your carnitas. And your quesadillas. In fact, any cuisine prepared by the Esquivels’ capable hands is simply delicious. Which is why Mexican Riviera Restaurant and Cake Art by Cathy are Riviera treasures. Where The Food is the Fiesta Since 1989, Mexican Riviera restaurant has been the go-to spot for locals craving homemade Mexican food at a great price. Miguel and Cathy Esquivel were only 26 and 23 when they opened the restaurant, just 2 months before they got married. After working in restaurants for several years, Miguel dreamed of owning his own place. When they heard of a restaurant vacancy in the shopping plaza on Pacific Coast Highway and Anza, they jumped at the chance. Both of their families rolled up their sleeves to help with getting the location ready and the restaurant off the ground. While Miguel cooked, Cathy served as waitress and the two of them stayed up late into the night washing dishes. In those early days the Mexican Riviera menu consisted of 8 combo plates. Today, the restaurant features 27 combos, the most popular of which is carnitas, tender braised pork. And in addition to Cathy and Miguel, you’re likely to find their children, Erika, Elizabeth and Michael, pitching in to wait on customers or help behind the stove. Something else you’ll find at Mexican Riviera is loyal customers. “One gentlemen comes in every single day for dinner,” says Cathy. “We have many regulars who always order the same thing, so we know exactly what to prepare the minute they walk in. One of our customers always asks the waitress to order for him. And one couple drives up regularly from Long Beach for our tortas.” After 26-plus years in business, Cathy and Miguel have also experienced many life events with their customers. One woman started coming there with her parents as a baby. She recently had her wedding catered by Mexican Riviera. Another couple who came in regularly always ordered taquitos. When they passed, their children hired the restaurant to cater their funeral receptions and serve – what else – taquitos. “We’re always honored to be part of our customers’ lives,” says Cathy. “We’re like one big family.” Being part of the community is important to Cathy and Miguel. The restaurant has hosted numerous fundraisers for local students with medical needs, deceased parents and other crises. The restaurant’s breakfast burrito is so popular among South High students, it’s known as the Spartan burrito. In fact, Cathy and Miguel were up at 3 am last June making almost 400 breakfast burritos for the seniors arriving back to campus from the annual grad night outing. And Now for Dessert Cathy’s passion for Mexican Riviera is matched by her enthusiasm for her cake business, Cake Art by Cathy. Over the past 20 years she had baked and designed more than 350 cakes for customers. Keep in mind that these are not your run of the mill cakes. A better term for them would be edible works of art. Some of her cake designs have included a shark with a foot coming out of its mouth, a camera-shaped cake (for a photographer), an octopus attacking a submarine (for a military man serving on a sub); a trash truck, a minion cake and even a piñata that won the Palos Verdes Fair cake contest. And each cake is as tasty on the tongue as it is on the eyes, featuring such flavors as chocolate, vanilla, marble, red velvet, strawberry and banana. Cathy attends a confectionary art convention in Las Vegas each year to perfect her cake artistry, and some of her more elaborate designs take up to 14 hours to complete. In addition to creating cakes for birthdays, weddings, graduations, quinceaneras and more, Cathy has taught cupcake decorating during summer school at Saint Lawrence School for a dozen years. She also does cupcake decorating birthday parties, where she provides the supplies, the instruction and the fun for guests who get to bring home their edible creations. So whether you’re craving carnitas or cupcakes, local residents Cathy and Miguel have you covered. Bring in this newsletter to get ½ off your second entree when you visit Mexican Riviera Restaurant, located at 4239 Pacific Coast Highway in Torrance (between Ross and CVS), and be sure to enter this month’s raffle for a $25 gift certificate to the restaurant. Mexican Riviera Restaurant is open daily from 8am to 9:30 pm (closed at 9pm on Sundays). You can find them online at Mexriv.com and via phone at 310-373-6600. To reach Cake Art by Cathy, call 310-951-2992.