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With the NCAA Basketball Tournament officially underway this week, I thought about how much this market feels like “March Madness” to many agents and their clients. Just to give you a sense of what the market is like out there, look at some home sales that officially closed this past week: Rancho Palos Verdes 30033 Avenida Celestial, Rancho Palos Verdes 4 beds, 3 baths, 2,383 sq. ft., 14,735 sq. ft. lot Asking Price: $2,000,000 Closing Price: $2,353,000 (+$353,000) 7240 Crest Road, Rancho Palos Verdes 4 beds, 5 baths, 3,180 sq. ft., 11,332 sq. ft. lot Asking Price: $2,399,000 Closing Price: $2,720,000 (+$321,000) 10 Crestwind, Rancho Palos Verdes 4 beds, 4 baths, 3,513 sq. ft., 21,354 sq.
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The South Bay real estate market continues to be in one of the hottest times agents have seen in ages, if not ever. From Palos Verdes to Manhattan Beach, buyers are fighting surging prices and too little inventory. For this week’s post, I am going to get back into a micro market analysis like I used to do regularly before the pandemic. The focus will be on a pocket in the Manhattan Beach Sand Section that I have covered before. Not only will it demonstrate how slower markets are catching fire, but it will also feature a client’s new listing. Ultimately, it will be a good exercise to demonstrate market dynamics and give some nice press
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In a real estate market heavily tilted in favor of sellers, buyers need to get creative to find affordable deals in real estate. Almost always, first-time home buyers are the ones who have it the toughest. First-time home buyers typically have less to put down, require higher leverage and have little experience on how to pursue or underwrite real estate. However, the advantage that these buyers often possess is the willingness to be flexible. So, how can one be flexible to give themselves an advantage? The answer is plain and simple: Beach City Income Property. Due to the expensive nature of South Bay real estate, rarely do income properties by the beach pencil from a cash
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