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The new year is just beginning, and the early trends of 2020 will start to reveal themselves in the next couple of weeks. This week I wanted to give a broad-brush stroke of the Palos Verdes Hill. If you read last week’s blog, you know that South Bay median prices are down year-over-year. In case you missed it, you can read the past blog here. Also, a few months ago I wrote a blog post titled, “Palos Verdes Luxury Property: Years to Sell & Huge Discounts,” so for those who read that blog, you would know that many Palos Verdes luxury properties are having a tough time selling. To reiterate last week’s information, when you split
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We are starting to gear up here at Manhattan Pacific Realty for the upcoming busy Spring selling season. It is busier than normal with a lot of clients starting to plan in January to execute on their 2020 real estate goals. Inventory is still a bit slow to come and I will get back to writing about specific cities and pockets soon. For now, the most important and influential data is the year-over-year price performance in 2019. Normally, I do not discuss quarterly or yearly data in the blog as I tend to share that information on my IGTV page and quarterly mailer. That said, it feels very relevant for the blog presently as there has
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Happy New Year South Bay residents and to all of our loyal weekly readers! I hope everyone’s 2020 is off to a great start and you are feeling as excited and inspired as ever. Just like every year, I am ready to make my annual “fearless predictions” for South Bay real estate and the greater Los Angeles area. This is one of the trickiest years ever to make predictions, but if it was easy, then everyone would do it. Before we jump into my predictions, however, I want to give a little background on where the market has been this past year. Real Talk: The Market is Soft The California state housing market is up. The
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We are just around the corner from starting a new decade. Time sure does fly! With the past 10 years in mind, I thought I would share the data on the best and worst performing real estate submarkets covered in my weekly South Bay blog. Those areas covered weekly are the Palos Verdes Hill, Manhattan Beach, Redondo Beach, and Hermosa Beach. Those cities have submarkets defined by the multiple listing service (MLS), which are 33 unique areas to be precise. That is why you hear definitions of areas like “the Sand Section,” “Monte Malaga,” and “Golden Hills,” to name a few. Best Performing Markets of the Decade Below is the list of the best performing markets
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Since we are on a holiday week and skipping out for the holidays by the end of today, I am being “naughty” by writing a short blog post this week, but “nice” because I really am committed to doing this blog each and every week! Not sure if that earns me the “nice” badge of honor, but it definitely helps me justify this post. These items are just some of the things you should be doing or researching now in preparation for your real estate acquisition or disposition in the coming year. There is a lot more to consider than the items below, but here are some tips to get you started. Home Buyers Be sure
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As longtime readers know, I write my “fearless predictions” for the South Bay real estate market for the upcoming year. I also like to hold myself accountable and share with readers how my predictions actually turned out. If you want to refresh your memory, take a look at my predictions from January of 2019 here. Let’s see how I did… Prediction Recap: The Interest Rate Effect My Prediction: The Fed will raise rates, the stock market will close higher, and 30-year rates will go to 5%. Rates that high will hurt the market. Recap: What a way to start the recap! I was VERY wrong on this one…or at least, two thirds wrong. After raising rates
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After taking a look at some recent December closings, there were two interesting and unique land sales in the 400-block of the North Manhattan Beach Sand Section. The area I will be discussing, is contained between 26th Street to the south, 36th Street to the north, Vista Drive to the west and Grandview Avenue (or a dead end into the Sand Dune) to the east. I have written about this area before, but it has been a minute. I enjoy taking a look at this market because lots are roughly 2,700 square feet and the size of homes built tends to be very comparable when maxing out the lot. The North Manhattan 400-block is an easy
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Back in May, I wrote a blog post titled: “Big Hermosa Homes with Big Views are Making Record Highs.” Just as the title states, the blog covered big homes with big views making record highs in elevated parts of MLS areas 148, Hermosa Sand Section and MLS area 149, Hermosa Valley. Now, just half a year later, we see those ripple effects having positive price impacts on surrounding real estate. And surprisingly, much of the deals are happening right now between November and New Year’s which further demonstrates the strength of this sub-market. The Tennyson Ripple The May blog discussed the highest sale of all time in Hermosa Beach. 2906 Tennyson Place 5 bed, 8 bath,
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Black Friday to Cyber Monday is a wonderful time to score some great gifts at a nice discount in preparation for holiday gift giving. At the same time, the holidays are also a fabulous time for buyers to land an incredible real estate deal at a discount. If you have been following the blog for years or have been a client, you know I believe Thanksgiving Day to New Year’s Day is the Black Friday to Cyber Monday period for great residential real estate deals, so make sure to take advantage of it! Steps to Score a Great Deal Right Now The real estate market changes each and every year, so your strategy needs to change
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It’s that time of year again. Semi-annually, I like to check in on the performance of North Redondo Beach new construction town homes. As always, we will focus on MLS areas 151 (Villas North) and 152 (Villas South). For this post, I will be covering both two-on-a-lot and three-on-a-lot happenings as there has been a lot of action. Additionally, I will try to keep the structure and comments the same as my blog post six months ago titled, “North Redondo Beach New Construction Update,” so you can see how things have changed. Three-on-a-Lots Six months ago, you may remember that developers started to go bigger and bolder with three-on-a-lot developments to drive their profits higher. The
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