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Redondo Beach, CA Real Estate News

By Mike Bjork
(Evolve Bank & Trust)
Sorry, I sent this Report out late today. Mortgage Rates were very good today, as the Bond Market started out high, but the Stock Market Rallied and took out the Money from the Bond (MBS) Market and worsend Mortgage Interest Rates.
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By Mike Bjork
(Evolve Bank & Trust)
Mortgage Rates will show some improvement. The Big News item this week was Retail Sales, which was disappointing. The Dow isn't happy (reflecting nearly 200 decline) and improvement for mortgage interest rates. The bonds/MBS do show they are in an Over-bought position, so they can change dramatically the other way. Next week, the CPI report will come out, so if there's any sign of inflation, then you'll see all of the gains this week lost. We'll keep watching.
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By Mike Bjork
(Evolve Bank & Trust)
Not a lot on the plate today. The Initial Jobless Claims has reduced from the prior week. DJIA was down a little bit today. The Auctions that have been going on all week have been ok, so no news startling the MBS/Bond Market. All in all, interest rates have remained steady this week. It is starting to approach an over-bought position, so it will be interesting to watch how long it will last. The European news have been helping mortgage interest rates to remain low.
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By Mike Bjork
(Evolve Bank & Trust)
Today, there is a Bond Rollover, so don't panic when you see the Candlestick Chart. The DJIA is up a bit on an increase in the Manufacturing Exports. Trade Balance came in near estimate. There will be a 10 year Treasury sale today, which may affect the Market (pending if the Auction goes well or not). Yesterday's 3 year went well, but they were expecting a bit more turn out (after all of the Flight to Quality maneuverings over the past week or two). But we did have a tick upward toward the end of the day yesterday.
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By Mike Bjork
(Evolve Bank & Trust)
Another Technical Factor Day!!! Not much moving either the Stock, nor Bond/MBS Market today. It may change some, as there is about $38 Billion Auction on the 3 year today -it's expected to go well. The Chart is showing another possible decisive move that will need to be made shortly.
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By Krystyna Baty Ryan, HONESTY TRUST TECHNOLOGY SERVICE RESULTS
(Broker)
  The Redondo Beach average home sale price dropped by 5.6  percent in April 2010 compared to the same period a year ago, bringing the average price to $733,667. The number of sales went up by 21.4 percent! Redondo Beach SoldListings AverageSale Price AverageDOM April 2010 68  $733,667 68 April 2009 56  $776,847 90  All stats are compiled from the Multi Regional Multiple Listing Service. Information is deemed reliable but not guaranteed.Sales in Redondo Beach over last few months reflect a stabilization of the South Bay real estate market as home buyers respond to increased affordability and more moderate prices.  First time home buyers rushed to take advantage of the homebuyer tax credit that expired on April 30, 2010.   If you want to learn more about Redondo Beach and South Bay real...
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By Mike Bjork
(Evolve Bank & Trust)
Mostly Technical Factors Today...New Bailout Package for EU ($1 Trillion), which the Fed, among many other World Central Banks are pledging their support. As we know, this deep concern has created tremendous jitters in the Financial Markets, so the Central Banks are stepping in to calm the Markets. As a result, you're seeing the DJIA averaging over 400 so far today. Because the concerns in the EU are calming down, then you can expect to see the Traders concentrating on economic growth in the US (Retail Sales will be reported on Friday). Interest rates have worsened from the levels of Thursday and Friday (last week,). As I had mentioned, it was "fear" based trading and it will return to more "normal" levels very soon. Today was the day. Rates are still very good.
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By Mike Bjork
(Evolve Bank & Trust)
Happy Upcoming Mother's Day to all of you Mothers out there. Market is still Trading on Fears in Europe. Germany's Parliament passed the Bill to lend Greece Money today, as Greece's Parliament passed a Bill to accept the Terms yesterday, which had led to rioting in their streets yesterday. Job numbers came in very good, as they were revised to a more positive growth for the February and March too. The Unemployment Number increased, which the Labor Dept. said it was owed to a huge increase in the Labor Force. Also, the Hourly Earnings came in Flat, which eases concerns for possible Inflation. Check out the Candlestick Graph on the Video and you'll see that there will be a Trend heading downward, as Bonds (MBS) are in an Over-Bought Position. At some point, it will come back down closer ...
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By Mike Bjork
(Evolve Bank & Trust)
The Bond Market, while the Stock Market is tanking, is on Fire. I don't anticipate this remaining at this level for long. It's primarily based on emotion, and at some point will drop down to more realistic levels. Productivity (Q1) has slowed down a bit (compared to Q4 of 2009); Initial Jobless Claims are still high; Greece is needing a Bailout; Questions on possible Bailout Packages for Spain and Portugal are being mentioned; and Euro dropped to 14 month low (under $1.30 now). Tomorrow's Job Numbers will be HUGE. By way, I added music today (Sean Paul's "Temperature") to illustrate the status of the Bond/MBS Market. Update Wow, what a Crazy Kind of Day in the Markets. DJI almost hit -1,000, but rallied back to -347.80. Bond Market reflected same type of Rally. We had Price Improvement...
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By Mike Bjork
(Evolve Bank & Trust)
Happy Cinco De Mayo!!!! Huge Gap in favor of the Bond Market today (improvement for Bonds/MBS). ADP showed some improvement in the Job Department, as well as, the ISM Services Index showing productivity. Greece is in the news again; as well as, concerns for Portugal and Spain. All part of the Sell off on the Stock Market.
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By Mike Bjork
(Evolve Bank & Trust)
DOW is down over 200 points today because of concerns of Greece's inability to repay Bailout Money (received yesterday from EU). "Flight to Safety" is assisting MBS today, so we are experiencing improved mortgage interest rates. Pending home sales continued to be good, which will normally improve the DOW and interest rates will worsen, but the Greece Concerns are greater than the good news reported on the Pending Home Sales today.
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By Mike Bjork
(Evolve Bank & Trust)
Happy Monday Morning. We have quite a bit of Economic News today, starting with Personal Income, Personal Spending, Core PCE and ISM Index. All have risen slightly. Core PCE still remains in friendly Inflationary Territory, so that is good news. Currently the Gain on Friday has been wiped out today, as Investors are moving money into the Stock Market.
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By Mike Bjork
(Evolve Bank & Trust)
Lot of Economic News today, starting with the GDP and Chicago PMI. Bond (MBS) Market is currently up. It may be in an Over-bought position, so look for it to drop in the very near future (basing it on past experiences in this this price range). A little stat that I encountered (not mentioned in video) is that we will need the GDP come in at 5% for the entire year, just to reduce our Unemployment by 1%. I thought that was an amazing stat. I guess that is why most economists are projecting high unemployment for the next 10 years. Have a great Friday and upcoming Weekend.
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By Mike Bjork
(Evolve Bank & Trust)
The Initial Jobless Claims were slightly down from the prior weeks numbers. The Fed's Policy Statement yesterday remained unchanged. Tomorrow will be the Chicago PMI and GDP information. Tomorrow should be the Market Movers of the Week.
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By Mike Bjork
(Evolve Bank & Trust)
The Big News today will be the Fed Meeting, which they'll be reading the statement at 11:15am PST (2:15pm PST). Don't anticipate any rate changes. Looking mostly if there will be any change in the language. By the way, Greece was Downgraded yesterday by a whopping 3 notches. This, and some additional concerns with Spain, were the main culprits for yesterday's big sell off on the DOW. Greece, Spain and Portugal are facing serious concerns, which is affecting the Global Market. This has been helpful for the MBS (Mortgage Interest Rates), as investors have flocked to purchase our debt as a "Flight to Safety".
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By Mike Bjork
(Evolve Bank & Trust)
No News today. Relying mostly on the Technicals. We'll have more news later this week, especially Wed. and Fri. We have experienced better pricing from Friday's numbers, as the Trading started about 16bps higher than Friday's Close. We'll possibly remain in good shape, if we remain above the 10 Day Moving Average.
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By Mike Bjork
(Evolve Bank & Trust)
  The Long Term Upward Trendline has been broken. Good Economic News reported today, starting with the Durable Goods Orders (deceiving report because of exclusion of transportation, number is highest in awhile); and New Home Sales blew the roof. Traders are concerned about the $120 Billion of Supply coming into the Market next week. Meanwhile, they've lessened their concerns for Greece (as evidenced in yesterday's complete reversal). There may be a false gain for today to make up the large Gap (between yesterday's close and today's open, approximately 25bps). Most likely we'll see a Trend going downward next week. As mentioned this morning, we had some movement to close the large gap between yesterday's closing and this morning's open. The Technicals will point to potential losses next ...
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By Rachel Martiens and Kathy Tyndall = The Tyndall Team, Love Living In The South Bay
(RE/MAX ESTATE PROPERTIES)
  SOUTH REDONDO CONDOS FOR SALE Today there are currently 32 condos for sale in South Redondo. Starting at $279,000 you can buy a 1/1 condo with roughly 619 square feet located in the Brookside Village Complex on the corner or Camino Real and Prospect. This is a short drive to beach or a 15 minute walk. The highest priced condo is currently listed for $1,950,000. This will get you a three bedroom 1,627 square foot ocean front condo with stunning panoramic ocean and coastline views.If you are looking to move to the South Redondo beach community you can expect to pay somewhere between $300-to the mid $400's a square foot give or take the condition, if the property is located east of PCH. For homes located west of PCH you can expect to pay a premium. Somewherealong the lines of  the mid $4...
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By Rachel Martiens and Kathy Tyndall = The Tyndall Team, Love Living In The South Bay
(RE/MAX ESTATE PROPERTIES)
I am very excited that a new deli/market is going in on South Catalina. Not only will they sell a variety of goods but they will deliver within a 5 mile radius!! Plus they will be open everyday from 9-8pm.Check it out:http://www.katalinasmarket.com/Default.aspx    
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By Gina Dougherty, Home Staging Redondo Beach, CA- FusionDesignConsulting.com
(Fusion Design Consulting)
We get so used to our homes, we often overlook easy updates that can make a big difference.  As a Home Stager I often hear my clients amazement at what a quick transformation a few new items can make. New kitchen and bath faucets- sometimes it's just the shower knobs. Replacing old light fixtures, ceiling fans and fluorescent kitchen and bath lighting. New Paint colors.  White paint walls are boring. Choose a cohesive color palette for the whole house- warm tans, yellows, blues. White is good for trim and ceilings to help the new colors stand out. Oil the Cabinets.  Using lemon oil or a tinted oil polish can really revitalize dull wooden cabinets. Re-upholster the dining chairs. New fabric gives old chairs a second life.  Faux leather is a good seat choice because it can be easily clean...
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