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Today I am going to touch on the topic of interest rates, the Federal Reserve (Fed) balance sheet normalization, and how it is affecting real estate today and in the future. Below I will share my exploration of charts from the Fed and a breakdown of what exactly is influencing interest rates. I am not an economist or financial advisor; I am a real estate investor and local broker studying complex economic topics and how they will impact our local South Bay market. My hope is to shed some light on a topic that will help my readers, clients, friends, family, and anyone interested in real estate.   Fed Normalization Before I dive in, I wanted to
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With the Fourth of July holiday this week, the real estate market has taken a short pause. I wanted to take this time to share a few quick notes on local happenings throughout The Hill and Beach Cities that could impact the surrounding real estate market.   Palos Verdes Peninsula/Rolling Hills The famed Hacienda de la Paz at 1 Buggy Whip Drive in Rolling Hills is finally going to auction. After five years of being on and off the market, it looks like the Seller is going to let market forces determine the value. Originally asking $53,000,000 in 2013, the 7.4 acre Spanish estate is currently on the MLS asking $40,000,000. Per the MLS and auction
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Oftentimes you’ll hear people around the South Bay say, “Beach real estate never goes down…it’s the safest investment around.” Is that actually true? U.S. bonds offered by the U.S. Treasury are more generally considered the safest investment in the world and they are oftentimes considered “riskless” investments. In this blog post, I want to share what the local market thinks about the best income properties, and if premier South Bay real estate is considered the safest investment by investors.   U.S. Treasuries Since 1776, the U.S. Treasury has never failed to pay back its lenders. When you purchase a U.S. bond, it is backed by the “full faith and credit” of the U.S. government. This is
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Every year around this time I like to write about undervalued areas in the South Bay. There is no substantial evidence as to why these areas are undervalued. This blog post is just an active real estate agent making a gut call on areas that are lagging the rest of the market or are just plain cheap. If you want to test my gut feelings, I will recap my blog post from last year on what areas offered value. For reference, check out last year’s value area blog here and also the recap of 2016 here.   Value for 2018 Finding value in the Beach Cities and Palos Verdes has proven to be difficult this year. Most
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Manhattan Beach Walk Streets After years of price appreciation, some of the most highly coveted real estate in the Manhattan Beach Sand Section is in correction territory. By no means is this meant to cause panic or scare anyone into selling their real estate. This is simply an analysis of past sales in a small Manhattan Beach sub-market that got a little ahead of itself on pricing. This small sub-market in question is the Manhattan Beach walkstreets. These homes sit on full 2,700 sq. ft. lots on the 100 and 200 blocks. More specifically, the homes discussed in this blog are located south of the pier to 21st Street, which tends to be the most desired
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North Redondo Beach It is no secret that North Redondo Beach real estate has skyrocketed over the last few years. In past blog posts, I have referenced countless sub-markets and asset types gaining big value in North Redondo. Improving school districts, easy commute to greater Los Angeles, and affordability, has attracted home buyers with willingness to pay more and more to get into this area. The Golden Hills sub-market, known for its “tall and skinny” homes, is popular for access to the fabulous Jefferson Elementary School. Last year, I wrote a blog post about new construction prices surging in a small sub-market within the Golden Hills area. This area bucks the trend of all tall and
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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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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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