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The South Bay is unquestionably huge. Depending on how you calculate the boundaries of the South Bay, it is over 100 square miles with a population of over one million people. How do I determine a South Bay city or neighborhood? If the Daily Breeze covers it, then that is enough to be included in the South Bay. Many of you know the focus of the blog is normally Palos Verdes, Redondo Beach, Hermosa Beach, and Manhattan Beach. For some readers, the blog’s market coverage is too narrow, and for others, it is too wide. For me as a writer and real estate broker, focusing on these four cities is what I can handle without stretching
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This week’s blog is a blend between two blog posts that have received positive feedback. The two posts are: North Redondo Tall & Skinny Home Appreciation Has Been Unstoppable Which South Redondo Beach Large Condo Complex is a Better Value? The feedback was twofold: North Redondo tall & skinny homes are a hot topic for our readers A lot of readers enjoyed the breakdown between two options and how to consider each of them This brings me to my blended topic for the week: East Hermosa Beach Tall & Skinny Homes vs. North Redondo Beach Tall & Skinny Homes. Yes, Hermosa Beach has tall & skinny homes too. In fact, a lot of them. And no,
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Redondo Beach is a city with a plethora of real estate options. There is property on the water, property with easy access to freeways, and everything in between. From condos to town homes to single-family homes, Redondo Beach has a wide variety of every asset class at virtually every price point. It truly has a little something for everyone. If you have been a buyer hunting for a condo in South Redondo, options are everywhere. There are small condo complexes and large condo complexes throughout town. I am almost certain that during your hunt you have run into listings in one of the “mega-condo” complexes, as I like to call them. The two “mega-condo” complexes I
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Rent control is now a reality for the residents of California as the recent passing of AB 1482 has become the hottest topic in real estate. If you missed last week’s blog post,”The South Bay Real Estate Market is Now Rent-Controlled,” be sure to check it out here for some of the main points. If you would like a deeper dive into the nitty gritty of AB 1482, take a look at the full bill here. So, after a weekend to review and gather my thoughts on how this new law will affect landlords and tenants, I now present to you my unscientific thoughts on how things will shake out. For those of you that know
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It is not 100% official, but California Assembly Bill 1482, which will create statewide rent control throughout California, has been approved by the State Senate and Legislature. Governor Gavin Newsome has pledged he will sign the bill, making the new rent control law effective throughout California in a matter of days. This new law is a resounding victory for tenant advocates and a disappointing loss to landlords. As a result, the South Bay real estate market is now rent-controlled. This is a new way of life for the local real estate community and it will take time for all to adjust to the new laws. Since this is massive breaking news for California real estate, I
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The title of this post is a matter of opinion but it is tough to argue to the contrary. Armed with single-family homes, large lots, and some of the best schools in Southern California, Palos Verdes homes are offering an incredible bang for your buck today. If you know where to look and have some patience, you can land yourself a fabulous deal relative to the beach city markets. And in some cases, a better value compared to inland real estate markets too. This blog will break down some really fantastic deals that are tough to beat anywhere else in the South Bay. I will also highlight some current listings that have the potential to be
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East Manhattan Beach real estate over the past few years has experienced really fabulous price growth. On a rolling 12-month average for median price, the Mira Costa sub-market (MLS area 147) stood at $1.7 million back in January 2015 and held its peak through a majority of 2018 at $2.25 million. That is a whopping 32% median price increase in just over three years for that sub-market. This year, we have seen some price softening in the Mira Costa sub-market to a rolling 12-month median price of about $2.1 million. Contrary to popular belief, even in Manhattan Beach, prices do not always go up in a straight line. Just about a year ago, I wrote a
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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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