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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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It is fun for just about anyone to look at beautiful Strand home listings for sale. Most onlookers drool over the homes while walking by with their coffee, glancing over the multi-million dollar asking prices without giving much thought and think to themselves…“maybe someday.” But, if you are actually in the market for a home on The Strand, then I am sure you are watching prices a lot more closely than others. And, if your focus is on Hermosa Beach Strand homes, then you would know that today property values are getting hammered. The Poster Child: 60 The Strand To start off this blog, I want to share the story of 60 The Strand that sold
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For the last few years, I have taken great pride in writing a South Bay real estate blog post each and every week. I have made it a priority to post during the busiest times for our company while serving our clients, posting over the holiday season, and yes, even posting over my wedding/honeymoon month (I pre-wrote those blogs). This week, I am throwing in the towel and giving myself the grace of missing one post for the first time in a very long time. On July 9th, Nicole and I welcomed in our first child, baby boy March Haynes. We have never known a love like this until March entered our world. March’s birth has
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In January, I wrote a blog post titled “South Bay Home Resales to Watch Closely,” which broke down the fastest and most accurate ways to analyze the real estate market. This blog post took homes that had sold just a short while ago and that were put back on the market with no improvements made. Below, I have shared the results of these sales, but for a full understanding, be sure to read the past blog here. Home Results 416 South Guadalupe Avenue in South Redondo Original Sales Price: $834,000 in March 2017 New Sales Price: $949,000 in April 2019 This sale is a big win for the Sellers and shows the market going higher. With
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If you have been following my blog for over a year, then you probably have come to learn that I tend to write about the market slowing down during the holidays and the Summer months. When the Fourth of July hits, you get a double whammy. A lot of people skip town this weekend and take real estate a lot less seriously until the Fall. The absolutely best time to score an awesome real estate deal, in my opinion, is between mid-November and mid-January during the holiday season. But what is the second best time? No question, for me, it is between July and August. And, with a long Fourth of July weekend this year, it
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This past February, I wrote a blog on the East Hermosa Beach new construction market. In my post, “Wild East Hermosa Beach New Construction Home Data,” I broke down the lack of supply and rising prices of East Hermosa Beach new construction. For the purposes of this post, I suggest you re-read that blog post to see the extremely strong growth in 2017 and 2018 that achieved some shockingly high prices. At the conclusion of that post, I came up with three reasons as to why pricing had climbed so drastically: The higher prices and sales reflected the true market. Lack of inventory forced buyers to pay huge prices. “High comps” pressured buyers to pay higher
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It is obvious that South Bay homes are expensive. It is even more obvious that South Bay homes with ocean views are outrageously expensive. View Homes and Price Per Square Foot If you want a view in Manhattan Beach, Hermosa Beach, or a home on Redondo Beach’s famous Esplanade, be prepared to pay well over $1,000 a square foot for these coveted properties. As you head up into the Palos Verdes Peninsula, you start to find view homes where the price per square foot (PPSF) starts to ease. For example, lower Malaga Cove has had some offerings that feel like a bargain compared to the Beach Cities. Take a look at some recent sales for instance…
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