Search homes for sale in the communities of Plaza Del Amo Torrance

Real Estate in the Gated Communities of Plaza Del Amo

3 Bedroom in Springwood – 2971 Plaza Del Amo #289 Torrance

by

2971 Plaza Del Amo #289, Torrance, CA 90503Springwood Torrance

3 bedroom townhome in Springwood

The latest home to hit the market in the gated communities of Plaza Del Amo is a well priced 3 bedroom townhome in Springwood.  The home is in fairly original condition so it could definitely benefit from some cosmetic updates.  The home offers approximately 1,434 sq feet on 2 levels.

**Update** Please note that this is an older post and this home sold for $940,000 in April 2024 and is no longer for sale.  Visit our current listings page to search the current homes for sale in the communities of Plaza Del Amo.

2971 Plaza Del Amo #289 Basics

  • 3 bedrooms
  • 3 bathrooms
  • 1,434 sq feet (buyer to verify)
  • $360 monthly HOA dues
  • Built in 1985
  • Central A/C and heat
  • 2 car attached garage
  • Gated community of Springwood
  • Listed by Rich Harik – Real Brokerage Technologies – 619-248-6434
  • Listed for $880,000 and sold for $940,000

Contact Torrance real estate specialist Keith Kyle with Vista Sotheby’s International to request more info

2971 Plaza Del Amo #289, Torrance, CA 90503 – sold for $940,000


Any information relating to a property referenced on this web site comes from CRMLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this website. The accuracy of all information is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.

Why Buying a Home in Plaza Del Amo Makes More Sense than Renting

by

Given the nature of the complexes of Plaza Del Amo, with an abundance of individually owned homes and townhomes of which many are rentals….many potentialChatelaine home buyers wonder if it makes more sense to own to rent.  The answer, of course, depends on each situaion, but from a long term perspective it always makes sense to be an owner….not a renter.  While renting is often less expensive in the near term, it does nothing to build wealth and unlike a fixed rate mortgage, rents continue to go up.  What may seem cheaper now, may be far more expensive later on.   Everyone is different but in terms of long term planning it’s almost always better to own than rent.

Here are just a few of the reasons that owning a home is a great plan:

Wise Investment
When you invest in a home, it offers the possibility for appreciation in value. The equity becomes yours when you’re still paying off your mortgage meaning that after the term of the loan you own it outright.  This can be your retirement plan, a way to live inexpensively after you’ve retired, etc.   You even get to live in it while your investment matures.  While you may have saved some money renting, at the end of the rental you have nothing to show for it.

Controlling your Own Destiny
When you are a renter, you are at the mercy of your landlord.  Even when you have a great relationship with your landlord things can change.  If your landlord wants to raise the rent you’re stuck, if they want to move in your stuck, if they want to sell then you’re out.  If you own your home and make your payments you’re in full control with no landlord surpises.

Tax Advantages
Since both mortgage interest and property taxes are tax deductible, homeownership can save you significant amounts of money every year.  There are no tax advantages of renting.

Planned Housing Costs
You decide how much you spend on your home, including repairs and improvements. Unlike renters, homeowners with a fixed-rate loan can lock in their monthly housing costs.

Improvements to Your Taste
You can choose which improvements to make your own property, such as a deck, kitchen remodel, or new paint, instead of needing permission from your landlord.

If you have more questions about making the decision to buy a home, please feel free to call or email.

View many more first time home buyer tips and information.

Think You Can’t Downsize Because Your Property Taxes Would Go Up?

by

**Please note that Propositions 60 and 90 have been replaced by Prop 19 and the information below is no longer the current law

California Propositions 60 and 90Bungalows townhomes in Torrance

PROPOSITIONS 60 and 90 are Constitutional initiatives passed by California voters. They provide property tax relief by preventing reassessment when a senior citizen sells his/her existing residence and purchases or constructs a replacement residence worth the same or less than the original. They were enacted to encourage a person, age 55 or older to “move down” to a smaller residence. When a senior citizen acquires a replacement property worth less than the original property, he/she will continue to pay approximately the same amount of annual property taxes as before.

Proposition 60 allows for the transfers of a base year value within the same county (intracounty). Proposition 90 allows for the transfers of a base year value from one county to another county in California (intercounty) if the county has authorized such a transfer by an ordinance.

How Do These Propositions Work?

If he/she qualifies, when the senior citizen purchases or constructs a new residence, it is not reassessed. The Assessor transfers the factored base value of the original residence to the replacement residence. Proposition 60 originallyrequired that the replacement and the original be located in the same county. Later, Proposition 90 enabled this to be modified by local ordinance. Los Angeles County enacted an ordinance to provide that when the replacement is located in Los Angeles County, the original property may be located in any other California county.

Who Qualifies?

The seller of the original residence, or spouse who resides with the seller, must be at least 55 years of age at the time of the sale.

When Are These Propositions Effective?

The replacement residence must have been purchased or constructed on or after November 5, 1986 if the original was located in Los Angeles County. The replacement residence must have been purchased or constructed on or after November 9, 1988 if the ongmal was located in any other California county. Claims must be filed within three years following the purchase of the replacement residence.

Were Are Claim Forms Available?

Forms are distributed at Assessor’s public counters, in Room 225 of the Kenneth Hahn Hall of Administration, and in district offices. If you need additional information, call (213) 893-1239. The forms may also be available online at the various county assessors websites.

Counties Accepting Prop 90 Transfers:

As of November 7, 2018, the following ten counties in California have an ordinance enabling the intercounty base year value transfer:

Alameda
Los Angeles
Orange
Riverside
San Bernardino
San Diego
San Mateo
Santa Clara
Tuolumne
Ventura

Benefits of Home Ownership in Torrance and Beyond

by

What’s so great about owning a home anyway?Homes for sale in Hollywood Riviera

Owning a home has so many benefits that it’s hard to argue against the merits.  While every owner has different reasons and some are more important to one homeowner than another, there’s no lack of great reasons….

Here are just some of the benefits:

  • Happiness.  While some investors might think this is frivolous, you simply can’t understate how important this is.  The feeling of owning your hown home is unlike anything else people own.  It’s yours and it’s simply not the same thing as renting.  You can fix it up, you can spend your time gardening or mowing the lawn, you can fix it up….knowing that….it’s yours.
  • Tax Savings:   Home ownership has long been a goal for buyers and the government alike.  The government rewards homeowners by providing excellent tax benefits.  Interest paid on your mortgage and other home related expenses can often be deducted, there are huge capital gains tax exemptions when you sell (primary residence) and more
  • Appreciation:  Home values have a welll documented history of going up over time.  While there may be temporary dips in the market, there’s no question that home values go up in the long term.  The increase becomes equity you can benefit from when you refinance or sell.
  • Equity:  Renting has often been compared to paying 100% interest, but when you own a home and a mortgage is in place, a portion of your payment goes towards the principal balance on your loan….meaning each month you own a little bit more outright.  This builds your equity and acts as a savings or retirement account.  When the home value goes up the equity accrues even faster.
  • Education:  Research shos that children of homeowners earn higher test scores and graduate at a higher percentage than those of renters.
  • Community Ties:  People who own rather than rent stay in their homes 4 times longer according to statistics.  This provide and opportuntiy to get to know you neighbors and connect with you neighborhood and local community.

Having a Home Inspection in Torrance and the South Bay

by

Buying a home is one of the most important purchases you will make in your lifetime, so you should be sure that the Chatelaine townhomes at 2300 Plaza Del Amo home you want to buy is in good condition. As many of the homes in Old Torrance are older, it’s especially important to have the home inspected by a reputable home inspector.  A home inspection is an evaluation of a home’s condition by a trained expert. During a home inspection, a qualified inspector takes an in-depth and impartial look at the property you plan to buy. The inspector will:

  • Evaluate the physical condition: the structure, construction and mechanical systems.
  • Identify items that should be repaired or replaced.
  • Estimate the remaining useful life of the major systems (such as electrical, plumbing, heating, air conditioning), equipment, structure and finishes.

After the inspection is complete, you will receive a written report of the findings from the home inspector, along with photos and details, usually within 1-2 days.

The Bottom Line: Spending Hundreds May Save Thousands  

When you make a written offer on a home, you should insist that the contract state that the offer is contingent on a home inspection conducted by a qualified inspector. You will have to pay for the inspection yourself, but it could keep you from buying a house that will cost you far more in repairs down the road. If you are satisfied with the results of the inspection, then your offer can proceed.

Finding a Qualified Home Inspector

It is the decision of the home buyer what home inspector to use, although your realtor should have some very helpful advice and guidance.

The following sources may help you find a qualified home inspector:

  • Your real estate agent. Most real estate professionals have a list of home inspectors they recommend.
  • State regulatory authorities. Some states require licensing of home inspectors.
  • Professional organizations. Professional organizations may require home inspectors to pass tests and meet minimum qualifications before becoming a member.
  • Phone book yellow pages. Look under “Building Inspection Service” or “Home Inspection Service.”
  • The Internet. Search for “Building Inspection Service” or “Home Inspection Service.”

Home Inspections Are Not Appraisals

A property appraisal is a document that provides an estimate of a property’s market value. Lenders require appraisals on properties prior to loan approval to ensure that the mortgage loan amount is not more than the value of the property. Appraisals are for lenders; home inspections are for buyers.