South Bay Real Estate Blog

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Most blog posts, I tend to write about areas that are roaring higher or beginning to slow. It is always more fun to write about bullish and bearish markets, but that doesn’t mean the South Bay markets moving sideways don’t deserve attention. I plan to visit one of these sideways markets today to provide an opportunity for my readers to make decisions about areas that could move one way or the other or just provide the option of certainty and stability. East Hermosa Beach This brings me to East Hermosa Beach, or the Hermosa real estate market east of Highway 1 (a.k.a. PCH). This area is hard to write about as a whole because the lots
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In the aftermath of Tropical Storm Harvey and Hurricane Irma, it got me thinking about Southern California’s greatest natural disaster risk: Earthquakes. I vividly remember the 1994 Northridge earthquake while growing up on the Palos Verdes Peninsula. My parents woke me up to get into the door jams while our home was shaking. It did not last long but I remember watching our entry way ceiling pendant sway from side-to-side for a minute or two. And that was it…no big deal. But, in Northridge and throughout parts of the San Fernando Valley, it was a much different story. What is the Risk in the South Bay? A recent L.A. Times article by Rong-Gong Lin II gave
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New construction town homes in North Redondo will not quit going up! Two-on-a-lots come to market. What happens? Gone. Three-on-a-lots come to market. What happens? Gone. There have been a whopping 56 new construction town homes to hit the market this year in NoRo (2016 builds or newer) and there is only one left on the market. By my estimates, this lone listing will be gone very soon. The NoRo new construction town home scene continues to be the one of the most affordable beach city buys in all of Los Angeles and buyers’ appetite for these new abodes seems to be unwavering. Three-on-a-lots The three-on-a-lot options have not only gone up in price but they
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Summer is coming to an end and it is time to see what is going on in Manhattan Beach west of PCH. After the traditionally busy spring season and slow summer months, we can see how the year is shaping up and what can be expected in the coming fall season. Sand Section The Sand Section represents two thirds of the available inventory west of PCH today. The theme of higher inventory levels has continued since 2016. Although inventory might be a bit concerning if you are a seller, there have actually been 73 sales to date for 2017 versus the 61 sales in same period last year. My blog (The South Bay is Crowded at
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The Monster Lot Towards the end of July, Valmonte saw a rare and very large 22,412 sq. ft. lot come to market in the “Grove Section” at 2915 Via La Selva. The well preserved 1952 built home was charming but likely a gut or a complete tear-down prospect. Developers and dream home lot hunters must have been gushing over the property until they saw the price…asking a hefty sum of $2,475,000! Most buyers probably muttered to themselves, “It’ll never sell.” And who could blame them? The ask price would be the seventh highest sale in Valmonte history for basically a tear-down home. Comparables To further the somewhat shocking ask price was its very comparable neighbor, 2921
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South Redondo Home Auction Did you hear about the wild real estate auction in South Redondo last month? The probate sale by public auction at 709 Elvira Avenue took place on Saturday July 8th. The initial asking price was $995,000 and it ended up selling almost 75% higher at $1,730,000. Hot damn! Manhattan Pacific Realty had clients attend and I personally was working to convince many clients to come and take a swing. To the untrained real estate eye, the crazy over-ask price might be a bit shocking. But to those in the residential real estate business, you knew it was coming. Let’s break down why there was a feeding frenzy… 709 Elvira Avenue The subject
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North Redondo North Redondo real estate has had a great run over the last few years and 2017 has been no exception. Located directly east of Hermosa and Manhattan Beach, north Redondo really hangs its hat on being one of the most affordable sections of the Beach Cities. It has become more desirable than ever as a result of rising school rankings, short drive to the beach, and an easy commute to the 405 and beyond. Golden Hills Sub-Market Golden Hills is a sub-market of north Redondo known for its hilly streets and “tall and skinny” homes set on smaller 2,500 sq. ft. lots. There is a small pocket of Golden Hills, however, that deviates from
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With the summer in full swing, the market gets a little sleepy as people go on vacation before school starts and the warm weather begins to fade. This week I am going to focus on Palos Verdes because it still the best bang for your buck (in my opinion) based on price per square foot, lot size, parking, and amazing public schools relative to the beach cities. The market is large, not as efficient as the Redondo, Hermosa, and Manhattan Beach, and has old homes needing work which presents a whole world of opportunity. 26411 Dunwood Road in Rolling Hills Estates It is rare to find a single-family home under $1 million on The Hill. It
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The Manhattan Beach Sand Section has been one of the most talked about real estate markets in all of southern California since the financial crisis. The Sand Section came to be known as a hot market around 2012 with major sales activity, low inventory, and rising prices which continued all the way through 2015. Many non-real estate pros today still believe the Sand Section is white hot, but a lot has changed. Sand Section Market Beginning in early 2016, the Sand Section finally hit some buyer fatigue. Years of new highs, seller over confidence, and desperate buyers started to slowly subside. Inventory began to rise through 2016, more than doubling by years end. If you had not
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After recapping the 2016 value areas in last week’s blog, I would like to point out some areas in the South Bay that I believe present solid value for 2017. If you are shopping in the below mentioned areas, then have no fear as they will have upside potential. Redondo Beach El Nido east of Inglewood Avenue Just like the 2016 value areas El Nido makes the list again! This time it is homes east of Inglewood Avenue. Now that west of Inglewood Avenue has had a nice run, buyers will sacrifice and jump to the other side of the street. It is already happening, but has potential to run even more in the next 12 months. Just be careful and
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