Location-Where do you want to be? Are there options for both condos and single-family houses in the area?

Privacy- Is it important to you to have complete privacy or do you find close neighbors to be a comfort?

Maintenance- Are you a homebody who enjoys getting dirty in the yard? Or are you delighted by the idea of never having to cut the grass?

Budget- How much do you have to spend? Depending on where you want to live, a condo may be the only option that meets your budget.

Responsibility- Do you need total control over decision affecting your home or are you attracted to the idea of sharing decision- making with your neighbors?

-Are you familiar with the market? If you pay attention to listing prices in the neighborhood and have a realistic view of how much a home will cost you, you’re off to a good start. You have to be realistic and understand that (depending on your budget) you’re most likely not going to get everything on your wish list.

-Do you know what your home buying budget is? Your monthly mortgage payment should be less than or equal to a percentage of your income. Your income, debt, and credit score are all taken into account as to how much you can borrow for your down payment.

-Do you have the money for a down payment and closing costs? The down payment is the percentage of the value of the property. This percentage is determined by the type of mortgage you select. Closing costs include points, taxes, title insurance, financing costs, and prepaid items or settlement costs.

-Is your credit report accurate and at a good number? Lenders will view your credit history to determine whether they’ll give you a loan. You should get credit reports from at least three credit report companies. Some reputable ones include Experian, Equifax, and Trans Union.

-Do you know that there are addition expenses to your down payment when it comes to buying a home? Expenses include homeowners insurance, utility bills, maintenance costs (heating and cooling, roofing, and plumbing).

-Have you made any recent big purchases? If you recently bought a car for example, you may have a harder time finding a lender to give you a loan or it could potentially lower the amount you get approved for.

So how did you do? If you feel you are ready to buy a home and Palos Verdes is the place you want to live then we cannot wait to help you find that perfect place for you to call home!

www.palosverdeshomesandrealestate.com

With a name derived from a menu of 120 tequila varieties, this award-winning restaurant offers a variety of dishes that blend flavors from Oaxaca, Mexico City and Southern California. Enjoy your meal in one the restaurant’s dining rooms or the breezy-covered patio. Happy hour specials are available Monday through Friday 4pm-6pm. On game nights, customers can watch the sporting event of the moment on a retractable big screen while munching down on food included in the $10 and $12 game baskets.

An elegant restaurant in the Promenade on the Peninsula Shopping Center, projects a warm ambience. The excellent food embraces several styles- south of the border, italian and even some Cajun items. It boasts sunny outdoor patios as well as indoor booths and tables.  Its signature dishes include the Marmalade Cafe Burger with Sweet potato Fries.

Admiral Risty has been around since 1966. The secret to its longevity, besides serving great steaks and seafood. Two, and now three generations of local families have been coming here for a special night out. Visit the website or stop by to learn about the delicious surf and turf cuisine. Their specialty is the Risty’s Flank Steak.

This family owned restaurant has been in business since 1963. Red Onion offers a wide selection of Sonoran-style mexican dishes. Reservations are recommended for parties of five or more. Specialties include margaritas and signature dishes include chicken tacos and shrimp la paz.

Noah’s is the best bagel shop on the hill. Offering bagels (of course), sandwiches, wraps, salads, and bagel dogs, Noah’s is the best Sunday morning treat along with the Sunday newspaper. The shop also does catering and bulk orders. Don’t forget to order a dozen bagels to enjoy during the week!

Although short sales can be messy and complicated, and can take anywhere from several months to more than a year to complete, they are becoming popular in the real estate market. Short sales jumped 33% in January compared with the same month the year before. In 12 states (including California, Arizona, Colorado, Florida, New York and New Jersey) there were more short sales recorded during January than sales of foreclosed properties. The new 30-day and 60-day regulations address just one of the key points of delay in the process, but regulators promise a series of additional steps during the coming months designed to speed transactions. They include clearer guidelines on borrower eligibility, property valuations, compensation for lenders holding second liens and mortgage insurance issues. All of these are points of friction that can delay short sales for weeks or months. Some of the complications inherent in short sales are beyond the control of regulators or banks. For instance, buyers put in offers to purchase but then change their minds, forcing the sellers and brokers to come up with replacement offers and the bank to reset the clock to analyze the new package. The take-away for potential short sellers is to be aware of the new moves used to streamline the process, but don’t expect miracles.

A local institution, The Appetizer has been around for almost 40 years. Owned by the Artiano family, The Appetizer serves deli-style sandwiches, pizza and pasta using the family’s own recipes. Many regular customers are greeted by name. A relatively new innovation is the addition of imported German beers to the beer and wine list. The Restaurant offer free delivery within five miles of the Peninsula. Specialties are pizza dough made from scratch daily. Their signature dishes are the torpedo sandwich with salami, ham, cheese, italian lettuce, tomato, pepperocinis and the spaghetti and clams.