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The East Manhattan Beach home market has fascinated me for years. New construction home prices have sky-rocketed over the years, leaving many existing home prices in the dust. In fact, there were times when you could buy just about any home older than 30 years, tear it down, and build new without fear of being underwater. I wrote about this interesting chasm in August of 2019 in my blog titled, “East Manhattan Beach Homes Sales and the Fascinating Dichotomy.” As a result, I felt like this huge split in valuation between existing homes and new construction homes made the market feel risky. Something had to give. In my 2020 fearless real estate predictions before the onset
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This week’s blog post is a piggyback on last week’s blog titled, “Real Estate Value Plays as the Market Rotates from Single Family Homes.” If you listen to my podcast, I have been pounding the table on condos and income properties as undervalued real estate assets thanks to the pandemic. No one wants to share an elevator and small hallways, or take the risk of tenants invoking their COVID-19 rental rights and not paying rent. As a result, single-family home prices have soared, and condos and income properties have lagged. That is beginning to change as we re-open, and I believe the window is closing to jump on these “value assets.” Last week’s blog post in
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The past year has been a wild one for many markets. While the weekly focus here is the South Bay residential real estate market, I do pride myself on following the equity and bond markets. The stock market, of course, is a huge store of wealth for buyers and sellers in the South Bay which, in turn, affects confidence and drives capital for real estate. Significantly bigger than the equity markets, the bond market is absolutely massive. It acts as another store of wealth, income, and obviously greatly influences mortgage rates via long-term Treasuries and actual rates via mortgage-backed securities. In order for me to feel like a well-rounded adviser to my clients, not only do
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It has been well-reported in national news that home prices are surging across the country. I have written about this price growth and have confirmed the numbers in our local marketplace as well. If you reference my January 15th blog post, “2020 South Bay Home Numbers Give Clarity to Unprecedented Market,” then you can see those exact gains for yourself. Furthermore, I have also written about record low inventory levels. More so, the record low inventory occurring on the Palos Verdes Peninsula. To understand that supply squeeze, be sure to reference my February 12th blog post titled, “Palos Verdes Home Inventory at Historically Low Levels.” So, with all that above, how does a market react in
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