Lakewood Estates, Area 22, Lakewood, California 90713
By Design, for Entertainment!
This is what I consider a good value for your money in today’s market. Located in Area 22 and more commonly known as ‘Lakewood Estates’, this home has a lot to offer and built with entertainment in mind.
Another great vintage video of the era.
Film Poster: Laddie McCabe
Date: July 9, 2015
This second video picks-up from the first clip and talks about the Whaley operation providing a more in-depth view of how these early homes were built.
Our filmmaker and great story teller takes us back in time through a journey highlighting fascinating details of how the Los Altos and nearby communities evolved. I didn’t realize this earlier, but most of the Whaley developments were primarilly funded throught FHA government insured loans (Federal Housing Administration), one of the most versatile home financing programs offering low-down payments and more flexible underwriting guidelines to first-time home buyers as well as many other borrowers.
A remarkable 8mm video from 1939.
Film Poster: Laddie McCabe
Date: July 2, 2015
The video is a captivating look at an early 8mm, and now vintage film, depicting the initial development of the Los Altos Community within the city of Long Beach.
According to the narrator of this film, Los Altos was our ‘nation’s first planned community’. Can you believe it? It is interesting to note that the area of Los Altos was developed first, and all other surrounding communities grew from there. The film talks about Lloyd Whaley’s plan and how the first homes, and surrounding community, were developed along Clark Avenue in 1946. By 1949, Whaley had already completed 880 homes between Bellflower Blvd. and Clark at the East and West, and between Stearns and Atherton at the North and South.
This is a small cohesive family oriented community located on the East side of Long Beach, a quiet residential neighborhood. Los Altos was originally developed in 1946 by Lloyd S. Whaley at the end of World War II to provide housing to returning military personnel after the war.
“We love Los Altos”, my wife and I purchased our first home and moved here in 1983, at that time we were the ‘new kids’ on the block and continue to live in Los Altos ever since. I recall how we used to frequent “Bob’s Big Boy” located at the corner of Bellflower and Spring and to this day remember ordering our favorite dessert, a “Hot Fudge Chocolate Cake”. I miss the early days and all our old neighbors.
Much has change since in Los Altos, the area is now mostly populated by younger families, lots of kids (the cycle continues!) running around the clever maze-like street-layout (by design for safety reasons minimizing unwanted through traffic in the area). Los Altos today has many new shops, it is conveniently located within the city of Long Beach with easy access to the 405 freeway, close to the Long Beach Airport, coastline, beaches, entertainment and not to mention excellent dining.
Good News for Home Buyers
FHA Reduces Annual MIP Rates by .50 Basis Points
A good start for 2015. Just recently HUD announced a reduction to their Annual MIP rate for loans with amortization terms longer than 15 years. What this means is not only the lowering of the annual premium by 50 basis points, but also the financed total loan amount. These changes will take effect for new FHA case numbers assigned on or after January 26th, 2015.
What does this really mean for Home Buyers?
Should I buy or should I rent? It’s an interesting question and I can tell you right now that there’s no right or wrong answer as it depends on each individual and your circumstances. Several years ago I would have recommended that you rented a home for the time-being while the real estate market was getting back on its feet.
Financing was a lot more difficult then as the banks became very cautious as to how much they lent and who they lent it to, but now is a different time; the market is definitely picking up right across the country. So what’s my advice? Read on to find out.