Three Sixty At South Bay

360 Real Estate and Homes for Sale in Three Sixty at South Bay, of of the premier gated communities

Property Tax Calendar and Escrow

by

Homeowners, especially new homeowners, often contact us for information on property taxes as it’s a new experience. We hope that the following information may help you when it comes to property tax time.

Tax Calendar

  • July 1 – Fiscal year begins.  Homeowners notified of new value
  • September – Tax rates set
  • October – Late October Tax bill mailed
  • November 1 – First tax installment due
  • December 10 – Taxes delinquent if not paid
  • January 1 – Assessment date
  • February 1 – Second tax installment due
  • April 10 – Second tax installment delinquent if not paid
  • April 15 – Last day to file homeowners, veterans or senior citizens exemption

Property Taxes while buying a home and Escrow

If you are in the process of buying a home the prorations of property taxes are handled by the escrow company.  If escrow closes:

  • July 1 – No prorations
  • August 1 – Charge seller 1 months, credit buyer 1 month
  • September 1 – Charge seller 2 months, credit buyer 2 months
  • October 1 – Charge seller 3 months, credit buyer 3 months
  • November 1 – Collect 1st installment from sellers account – credit seller 2 months, charge buyer 2 months
  • December 1 – credit seller 1 month, charge buyer 1 month
  • January 1 – No prorations
  • February 1 – Collect 2nd installment from sellers account – charge buyer 5 months, credit seller 5 months
  • March 1 – Charge buyer 4 months, credit seller 4 months
  • April 1 – Charge buyer 3 months, credit seller 3 months
  • May 1 – Charge buyer 2 months, credit seller 2 months
  • June 1 – Charge buyer 1 month, credit seller 1 month

Price Drops in 360 South Bay?

by

It wasn’t long ago that homes in 360 South Bay and “price drops” didn’t seem to go together.  In 2018 it seemed that almost every listing sold over list price, at list price or pretty darn quickly.  Either way homes didn’t sit on the market long enough to see list price decreases.  With the recent major uptick in available homes for sale, that has depressed demand a bit which has left some homes, especially the ones overpricced to begin with, in an unusual situation.

Of the 8 current homes for sale in Three Sixty South Bay, 3 of them have reduced the original list price.  What makes it even more interesting is that the price reductions haven’t seemed to have much of an impact as the three homes (as of 4/7) are still on the market.  Some of it is due to homes simply coming out priced too high as sellers want to exceed the previous high water mark and some is clearly due to a lessening of demand.  Only time will tell if this is a temporary blip or the start of a trend in 2019

Address Style List Price – Original
List Price		 $/Sqft Bed/Bath Sqare Feet*
5550 Boardwalk #105 Lofts $649,999 –  $695,000 $566 1/1,0,1,0 1149/SEE
5535 Ocean #105 Court – Townhome $799,999 –  $819,000 $606 2/2,0,1,0 1320/A
5429 Strand #103 Row – Townhome $879,000 $513 2/3,0,0,0 1714/B
5565 Ocean #106 Court – Townhome $900,000 $463 3/2,0,1,0 1942/B
5441 Ocean #101 Row – Townhome $1,099,000 $539 3/3,0,0,0 2040/
5565 Palm DR Terrace $1,129,000 $598 3/2,0,1,0 1887/T
5523 Palm DR Terrace $1,279,000 $585 4/2,0,1,0 2187/A
5240Pacific Terrace Terrace $1,349,000 –  $1,399,000 $557 4/3,0,0,0 2423/A

Three Sixty South Bay 2019 1st Quarter Update – Active Listings and Sold Homes

by

We’ve definitely seen a big jump in home inventory and a pretty obvious drop in demand as there are a number of homes now sitting on the market that never would have a year ago.  The homes that are currently on the market represent just about every home type in 360 with a 1 bedroom in the Lofts, a few townhomes in the Court and several single family Terrace homes.

See the current homes for sale and active MLS listings in 360

Active Homes on the Market in 360

Type   Address Price $/Sqft Br/Ba Sqft Date
CONDO 5550 Boardwalk DR #105 $649,999 $565.71 1/1,0,1,0 1149/SEE 3/29/2019
CONDO/A 5535 Ocean #105 $819,000 $620.45 2/2,0,1,0 1320/A 3/21/2019
TWNHS/A 5565 Ocean #106 $900,000 $463.44 3/2,0,1,0 1942/B 3/16/2019
TWNHS 5441 OCEAN #101 $1,099,000 $538.73 3/3,0,0,0 2040/ 2/7/2019
SFR/D 5565 Palm DR $1,129,000 $598.30 3/2,0,1,0 1887/T 3/14/2019
TWNHS/D 5523 Palm DR $1,279,000 $584.82 4/2,0,1,0 2187/A 3/11/2019
SFR/D 5240 Pacific Terrace $1,349,000 $556.75 4/3,0,0,0 2423/A 2/20/2019

Current Pending Sales and Homes in Escrow

CONDO – The Flats 5450 Strand #202 $780,000 $545.84 2/2,0,0,0 1429/B 3/19/2019

Home Sales and Sold Homes in 2019 (up to 4/3/19) – see the recent 360 Home Sales

Type   Address Sold Price – List Price $ Per Sq Ft Bed/Bath Sq Feet Date Closed
SFR/D 5542 Palm Drive $1,215,000 –  $1,225,000 $555.56 4/2,0,1,0 2187/A 1/10/2019
TWNHS/A 13023 Union AVE #106 $897,000 –  $889,000 $550.31 2/2,0,1,0 1630/B 1/18/2019
TWNHS/A 5565 Ocean #106 $817,000 –  $899,000 $441.62 3/2,0,1,0 1850/A 2/4/2019
TWNHS/A 5537 Strand #101 $1,125,000 $529.91 3/3,0,0,0 2123/B 2/8/2019
TWNHS/A 12913 Mission Ave #105 $874,000 $571.24 2/2,0,1,0 1530/A 2/26/2019
CONDO/A 13022 Central Ave #203 $765,000 –  $769,000 $570.90 2/2,0,0,0 1340/A 3/4/2019
SFR/A 5227 Pacific Terrace $1,145,000 –  $1,149,000 $554.75 3/1,1,1,0 2064/A 3/18/2019
CONDO/A 13029 Central Ave #303 $779,000 $577.04 2/2,0,0,0 1350/A 3/29/2019
SFR/D 5564 Palm Dr $1,090,000 –  $1,099,000 $585.71 3/3,0,0,0 1861/A 3/30/2019

Three Sixty South Bay Real Estate Resources

by

Information to help you get started in the gated community of Three Sixty.  Whether you’re thinking of buying a home in 360 or want to get the value of your home in the community, you’ve come to the right place.

Real Estate Resources for Three Sixty Buyers and Sellers

homes for sale in Three Sixty South Bay
Search for homes in gated Three Sixty
what is your home in Three Sixty worth
recent home sales in Three Sixty South Bay
community amenities in Three Sixty South Bay
Freestanding Terrace homes in Three Sixty
townhomes for sale in Three Sixty South Bay
single level condos in the Flats at Three Sixty

Why a Home Inspection Is Highly Recommended

by

Whether you’re buying a fairly new home in 360 South Bay or an older home  in the South Bay, a home inspection is an absolute necessity. A home inspection will assess the building code conformity as well as all the systems and structural components that make up the building, such as:

  • Structural elements, foundation, framing etc
  • Plumbing systems
  • Electrical systems
  • Heating and Cooling systems
  • Roofing
  • Cosmetic condition, paint, siding, etc.
  • General Environmental Issues.

Keep in mind that a home inspection is a “general” inspection and they may recommend additional investigations.  While they will call out obvious problems they are not inspecting for things like termites, mold, hidden environmental hazards, etc.  If there are additional concerns beyond the scope of the inspection, it’s important to have them addressed within the agreed upon inspection period.

When you’ve decided upon the South Bay home you want to buy and you’re about to sign the offer, make sure there is an inspection contingency in that contract allowing you to do your due diligence and inspect anything of concerns.  The best place to start is to get your own professional home inspection. Although “Pre-Selling” or “Pre-Listing” inspections are not common, some sellers may have had their own home inspection done which they usually will provide to a prospective home buyer.  They may have corrected some/all of the issues on the report or it may be for information purposes only.  We highly recommend having your own home inspection done with a professional and recommended home inspector.  If the terms of the contract as standard are accepted, a buyer will have 17 days to have the inspection completed, analyze the report, schedule any additional inspections/estimates and provide the seller with a list of repairs (which they are not obligated to accept…or even respond to). We will be your eyes and ears at the structural inspection should it not be possible for you to be present yourself.

In the event that hidden problems are revealed through the inspection inspection process, you may do one of two things:

  1. If the inspection reveals conditions that change your desire to buy the home, you may terminate the purchase agreement by notifying the seller in writing and provide a copy of the inspection report disclosing the problems.  If it is within the inspection period the deposit is returned to the buyer.
  2. You may submit a list of the problems discovered in the inspection report, known as a request for repair, to the seller and request that the seller make the necessary corrections and repairs before the deal is closed, or adjust, issue a credit, or adjust the price accordingly.  The seller may, or may not, agree to any of the requests.

The Inspection Report

When you interview a home inspector, ask him what type of report format he provides. There are several types of reports used by inspectors, such as computer generated reports, the checklist format and the narrative style report. Some reports are completed and generated on site and some may take up to a week to complete. There are good and bad points to all of these formats.

  • Make sure that the inspector will take pictures that explain their descriptions and potential problems.
  • Some inspectors now have drones to inspect roofs and hard to see areas
  • Hire an inspector that gives detailed descriptions of the home and potential problems instead of vauge and easily missinterpreted descriptions.

“Bathroom Shower Enclosure: Condition – Minor wear, heavy wear, damaged, rust stains, or chips in enamel finish. Recommend sealing drain and pan at base of tile.”

As you can see, this narrative description includes a recommendation for repair. Narrative reports without recommendations for repairing deficient items may be difficult to interpret, should your knowledge of construction be limited.

Make sure, if you do not understand something, that you ask questions. Items in the inspection report that are not serious quite often can be interpreted by a nonprofessional to be a major factor. A good home inspector should be able to put things into perspective and answer all your questions. If for some reason a question cannot be answered at the time of the inspection, the inspector should research the question and obtain the answer for you.

Take the time to become familiar with your home inspection report. If the report has a legend, key, symbols or icons, read and understand them thoroughly. The more information provided to you about the property, the easier it will be to understand the overall condition. If possible, try to be present when the inspector is doing the inspection. You do not have to be there during the entire process, but if you can walk through with the inspector at the end so he can show you the findings of the structural inspection, you will learn a great deal about the home you are about to purchase.

Looking to Rent Your Home in 360? We Would Love to Know About It

by

We are contacted several times a week by people looking to rent in Three Sixty.  Unfortunately our answer to them is usually the same….there360 open houses is nothing on the market.  We realize that part of the reason that some of the rentals are not on the MLS is that owners don’t want to pay realtors but we would love to be able to find potential leases for those that contact us.

If you’re considering renting your unit we can potentially be matchmakers and put you in touch with some of the people that contact us.

Email us and tell us what when it will be available, the features, style, beds, baths are of your home and hopefully we’ll have someone looking for something just like it.