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It is hard to fathom how in demand affordable homes are in the South Bay. Currently, if there is a home listing for sale on the lower end of the price spectrum for the area, there is massive demand. Redondo Beach There has been a frenzy of activity in North Redondo for anything under $1 million. It seems almost everything is receiving multiple offers. Buyers are competing with double digit offers and homes are selling for five to ten percent higher than list price. Take for instance our agent Frank Sabatasso’s very nice listing on 2106 Rockefeller #E. He received double-digit offers and was off the market in a flash. During the same week, the completely updated home at 2212 Carnegie Lane
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This week I wanted to highlight some notable sales up on the Palos Verdes Peninsula. There were record highs and record lows set in Lunada Bay, along with some interesting movement in Rancho Palos Verdes and Rolling Hills Estates in the past month. Record High Let’s start with the second highest recorded MLS sale on the entire P.V. Hill…ever. The long time Toyota Motor Sales owned property at 1721 Paseo Del Mar in Lunada Bay was listed for $13.9 million and took only 38 days to find a buyer. Not only did it sell quickly for a home in that price range, but it received full price with only a $60,000 termite and repair credit. It will
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It is pretty uncommon to find a beach pad for under $1 million these days. Manhattan, Hermosa, and south Redondo Beach have all had a spectacular price run over the last few years making it difficult for first-time and second home buyers to get in by the South Bay sand. If you can only afford below $1 million, fear not, there are still options that exist! They are just few and far between. And if South Bay beach real estate continues its climb over the next few years, then these options might cease to exist. Between MB, HB, and SoRo there are only 17 active listings available with a price below $1 million. Let’s take a
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