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East Manhattan Beach real estate over the past few years has experienced really fabulous price growth. On a rolling 12-month average for median price, the Mira Costa sub-market (MLS area 147) stood at $1.7 million back in January 2015 and held its peak through a majority of 2018 at $2.25 million. That is a whopping 32% median price increase in just over three years for that sub-market. This year, we have seen some price softening in the Mira Costa sub-market to a rolling 12-month median price of about $2.1 million. Contrary to popular belief, even in Manhattan Beach, prices do not always go up in a straight line. Just about a year ago, I wrote a
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Semi-annually I like to touch on the perpetually hot topic in residential real estate – interest rates. Past Blog Post and Conclusions The last time I wrote a blog post on interest rates was back in March titled “California Interest Rates are Rising – Should You Buy Now?” I highly encourage you to read that last post because it debunks the myth that when interest rates go up, prices go down. And, vice versa. Essentially, per the data, interest rate movement does not dictate whether we go up or down in price. They are a potential contributor to a multitude of factors, but you can never “bet the house” on interest rate moves correlating directly with
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I have really enjoyed writing investment-themed blog posts for my readers this month. So, I wanted to continue the theme and share some great buys that have occurred this summer. The average residential real estate buyer does not know how to properly underwrite a great deal. Oftentimes, your typical buyer will purchase, hold onto their property, and then hope their house is worth far more the next time they call their agent. I am going to break down some of the best deals in a few South Bay areas, so it can help in your search to know if you have yourself a great purchase. Below are what I believe to be some of the best
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I recently received a lot of feedback on last week’s blog post titled “Why I am Selling My South Bay Residential Income Property.” There was some good feedback and a lot of great comments. Below are a few examples of questions and comments I received: “If you own at such a low basis, your returns are much higher…so why the heck would you sell?” “I only want to invest in real estate and have been sitting in cash for two years. Thanks for the post and I will continue to wait.” “What are you going to buy with the proceeds that justify taking such a big tax hit?” All of these comments and questions are excellent
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With the amazing price growth in Southern California real estate, I have clients lined up who are ready to buy their first income property and clients who want to continue adding to their portfolio. I know a lot of great agents that would scour the market for the best deal and be glad to sell someone an income property right away. For me and my clients, I suggest that they wait. In my opinion, there will be a better time to buy an income property down the road. As a full-time real estate broker and investor myself, I want to share my reasoning with everyone in this latest post. The Market Feels Stretched As many of
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