Home Styles For years, home buyers have been shying away from the once popular architectural favorite: Mediterranean. This home style was all the rage for Baby Boomers in the 90s and early 2000s, and was a dominant style in Palos Verdes Estates (PVE) new construction over the years. Along with Mediterranean construction, PVE is home to many Spanish, mid-century modern, and contemporary homes, making today’s present day quest for “charm” a tough task for many buyers looking in the area. Outside of original ranch homes, which tend to be on the smaller side, it can be difficult to find the in-trend styles many buyers are looking for these days. What are some of those styles you
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Month: May 2018
The Strand Market In 2017, there were 17 home sales on The Strand in Manhattan and Hermosa Beach. Now, five months into 2018, Strand sales are a grand total of ZERO. What’s interesting about the 2017 Strand market is that of those 17 sales, only three occurred before June. So, a rapid clip of 14 sales happened between June and December. Perhaps the time leading up to tax season affected Strand buyer decisions? With little activity the first half of this year, it has created some healthy competition for some spec sales. Additionally, it has made some existing owners more realistic, and dare we say…asking fair prices? Hermosa Beach Benchmark 2017 Sale: 1540 The Strand, Hermosa
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East Manhattan Beach Sale A recent lot sale signals that real estate developers are about as bullish as they can get on East Manhattan Beach (East MB) real estate. After being on market for almost a year, the 15,311 sq. ft. double lot offering at 1156 6th Street in East MB finally sold last week for $3.6 million. I mentioned this particular lot in my June 2017 blog (Recent Lot Deals in Manhattan Beach) when it was asking $3.795 million after selling in late 2015 for $3.3 million. At the time, that asking price did not pencil to build two homes. Instead, I speculated in my blog that perhaps a buyer in search of an over-sized
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North Redondo Beach Over the years, North Redondo Beach real estate growth has been meteoric and a major talking point. This is why I have now taken on a habit of writing about new construction town homes in this area at least twice a year. For reference, check out my past blog posts from September 2017 (North Redondo New Construction Homes Continue to Prices) and November 2016 (Out with Three-on-a-lots, In with Two-on-a-lots). If you want to go back even further, check out my post from February 2016 (The Steady Rise of North Redondo Town Homes). New Construction Town Home Growth Three-on-a-lots have been fewer and fewer to come by over the last couple years. Interestingly,
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Rancho Palos Verdes Property Auction A new probate sale at 5965 Peacock Ridge Road #201 in Rancho Palos Verdes was listed this week asking $395,000 (way below value). The auction will be held on Sunday, May 20th at 10 a.m. with an open house this Saturday and final views before the auction. We do not see a lot of these auctions in Palos Verdes but perhaps a little history can give you an indication of what results we can expect. Auction History If you read my blog “South Redondo Real Estate Auction Gone Wild,” then you might have an idea of what is to come. As noted in that past blog, not only did the underpriced
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