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It is always fun to look back at past blogs to see if trends are still trending or past predictions have actually come true. In February, I wrote a blog post called “The Steady Rise of North Redondo Town Homes” which took a four year look at newer construction town homes in the South Villas. The results were not only impressive from an appreciation standpoint, but the steady rise was supported by numerous sales. If you read the post and the data presented, I made the not-so-bold call with this quote: “…expect to see continued growth in this area and product type…the rise of north Redondo town homes will not be slowing down any time soon.” A
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In last week’s blog (Big Price Jump in Hermosa Beach Condos) I wrote about how the market has become so pricey that home buyers are now willing to move on homes that offer “value” relative to the surrounding area. Basically, buyers are willing to sacrifice a single-family home for a town home or condo, sacrifice a view to get into a school district, take a 1-car garage to obtain that third bedroom. The more affordable homes that offer more bang for your buck are still strong in the South Bay and should continue to stay strong. As promised, I will be sharing a “value area” for each Manhattan, Hermosa, and Redondo Beach. The South Bay has had quite
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Just six months ago, I wrote a blog about Hermosa Beach condos being just as affordable as renting. At that time, if you were willing to make a few sacrifices, you could live west of PCH and have property ownership that penciled out better financially over renting. Certainly, it was a very rare circumstance in South Bay beach real estate. Now, only a half year later, the market has pushed prices up dramatically. Looking back at 1720 Ardmore #124 and 1707 Pacific Coast Highway #304, each condo was nice and clean with good updates that sold for $576,500 and $575,000 respectively. Both cleared in September and April of 2015. Today, after looking at recently closed comps, we can see these condos have
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When working with clients new to the South Bay, we like to recommend taking a strong look at the Valmonte area of Palos Verdes. This area offers so much to a home buyer from location and lifestyle to schools and recreation…Valmonte really has it all. One of the best features is that this small area offers affordable starter homes to estate properties appealing to all types of people in completely different stages in life. Residents can walk to the P.V. golf course or tennis club for a game, or to enjoy a morning brunch. RAT beach is just seven minutes away for those looking to enjoy some surf and sun. If you have kids, the P.V. Little League
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