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If you read news headlines about statewide and national real estate, then you have certainly encountered articles with opinions and data regarding the following. Low inventory of homes for sale in many areas. Buyer fatigue and some markets seeing slowing sales. So, what do we make of it here specifically in our local South Bay markets? Anecdotally, yes, we are seeing buyer fatigue and buyers becoming more patient. And statistically, we have seen signs of sales slowing, but not because of weakness or less demand, but because there is just low levels of inventory and a dearth of new listings. The lack of new listings the past two weeks made a lot of us here at
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As promised, this week’s blog will cover newly passed SB-9 and SB-10 California laws. The bills are highly detailed and will vary depending on interpretation and the location of your property in the state. Furthermore, anyone pursuing the use of these new laws will want to hire the services of a qualified local architect and real estate attorney. I am doing my best to summarize these new laws and give my opinion on how it will affect South Bay real estate. But please, much more due diligence must be done beyond this blog post if you want to fully understand these laws and how they apply to a specific property. Senate Bill 9 The intentions of
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We are proud and honored to report that the Manhattan Pacific Realty team is seeing a busy start to the fourth quarter. Many thanks to all of our clients and readers who put their trust in us. In the coming week you can expect a new podcast taking a deeper dive into Q3 South Bay home numbers, a blog post on SB9 and SB10, and a newsletter going to press for those of you on our snail mail list. This week’s blog will be a quick one, and a little out of character for the normal blog, as I will break down two personal new listings. Let’s get right to it… Special Lunada Bay Charmer in
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We have officially concluded the third quarter of 2021 and I am excited to share the latest numbers driving the South Bay home market on this week’s blog. If you remember the previous quarterly update (Q2 of 2021), I talked about how Q1 and Q2 of 2021 were expected to be extremely strong due to “easy comps” from 2020 during the start of the Coronavirus pandemic. For reference, take a look at last quarter’s blog here: “Second Quarter South Bay Home Data Illustrate Pandemic Buying Frenzy” Reading last quarter’s blog, you will see that I thought Q3 and Q4 will be the key data to tell us where this market is going. I have been eagerly
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If there is one thing that I have learned over the past 15 years in real estate, it is to “follow the money.” And no, I do not mean “follow the money” like trying to bust a political scandal made famous by the film “All the President’s Men” in 1976. I mean “follow the money” by watching what professional investors, developers, and big REIT money managers are doing in local real estate markets. Those investors can offer early indicators on the future of a market and if big gains might be had in changing areas. Following these fellow real estate pros has given me a heads-up on areas to get in front of to capitalize on
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