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We are proud and honored to report that the Manhattan Pacific Realty team is seeing a busy start to the fourth quarter. Many thanks to all of our clients and readers who put their trust in us. In the coming week you can expect a new podcast taking a deeper dive into Q3 South Bay home numbers, a blog post on SB9 and SB10, and a newsletter going to press for those of you on our snail mail list. This week’s blog will be a quick one, and a little out of character for the normal blog, as I will break down two personal new listings. Let’s get right to it… Special Lunada Bay Charmer in
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We have officially concluded the third quarter of 2021 and I am excited to share the latest numbers driving the South Bay home market on this week’s blog. If you remember the previous quarterly update (Q2 of 2021), I talked about how Q1 and Q2 of 2021 were expected to be extremely strong due to “easy comps” from 2020 during the start of the Coronavirus pandemic. For reference, take a look at last quarter’s blog here: “Second Quarter South Bay Home Data Illustrate Pandemic Buying Frenzy” Reading last quarter’s blog, you will see that I thought Q3 and Q4 will be the key data to tell us where this market is going. I have been eagerly
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If there is one thing that I have learned over the past 15 years in real estate, it is to “follow the money.” And no, I do not mean “follow the money” like trying to bust a political scandal made famous by the film “All the President’s Men” in 1976. I mean “follow the money” by watching what professional investors, developers, and big REIT money managers are doing in local real estate markets. Those investors can offer early indicators on the future of a market and if big gains might be had in changing areas. Following these fellow real estate pros has given me a heads-up on areas to get in front of to capitalize on
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Work has been crazy busy over here at Manhattan Pacific Realty. As a result, I have been struggling to find time to research and write an in-depth blog this week. So, in advance, please forgive me for a shorter post than normal. This week, I am highlighting two big legal and legislative happenings that you should be aware of affecting all residential real estate in California. In future posts, I will do a deep dive into the most impactful changes. Statewide California Eviction Moratorium to End. Governor Newsom Signs Senate Bill 9 and Senate Bill 10. California Eviction Moratorium Ending The statewide eviction moratorium is set to end on September 30th, 2021. Although anything can happen
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I have not written a post about how income properties can be advantageous purchases as an owner-occupier since 2018. I thought it would be a good idea to write a refresher about current properties on the market. It will demonstrate how someone on a budget might be able to get a better location and more for their money. Below, are two posts I quipped back in 2018 for reference: September 2018: Your Home is a Weak Asset; Buy Income Property March 2018: You Should Buy a South Bay Income Property (Not a Single-Family) Newer buyers typically start their home search looking at single-unit properties (i.e., condos, townhomes, and single-family residences) and gravitate towards what they can
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The past couple of weeks have brought calls and texts from clients regarding the latest California Senate Bills to pass in the Senate and State Legislatures. If signed by Governor Newsom, these could become news laws throughout the state. SB9 and SB10 could be another transformative shift in California real estate law, much like we have seen recently regarding ADUs and statewide rent control. I have not studied the bills in depth like I have with other proposed bills, but let me give you a very brief synopsis from local papers. Senate Bill 9 This bill could effectively eliminate R-1 zoning throughout the state, allowing for owners to build duplexes or complete lot splits. Read more
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What the heck do we make of this market? Many news headlines are stating record highs in home prices, while other media outlets are talking about a slow down in real estate at the same time. Even in my blog posts, I have reported incredibly bullish results and news throughout the entire South Bay. See a few posts below that I have written just in the last few months… PVE Valmonte Records: “Valmonte’s Record Sale Driving Submarket to All-Time Highs“ Townhome Price Surge: “South Bay Townhomes Showing Signs of Price Surge“ Redondo Beach New Construction: “North Redondo New Construction Town Home Prices Surge to Huge Records“ Manhattan & Rolling Hills Records: “Record Home Sales on the
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Over the past few months, my South Bay real estate blog has been gushing about the overall strength of our local housing market. Second quarter data shows buying frenzy! North Redondo new construction price surges! Condo/townhome price growth! And, Valmonte going to all-time highs! These are topics that I have covered just since the beginning of July. To say the least, it has been an incredible 2021. And, while home prices are going higher in one of the strongest markets in a generation, there might be some early warning signs that buyers and sellers need to watch carefully. Although imperfect, in my opinion, the #1 indicator of where the market might go is C.A.R.’s Housing Affordability
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Palos Verdes is a massive residential housing landscape. Not only do the expansive borders prove to be a challenge in learning the market, but home values are further complicated by winding roads and rapidly changing topography that increase or decrease value by significant numbers…you need to be careful and diligent. For perspective on the size of the market, in the month of July, the Palos Verdes Hill had 881 single-family home sales. Compare that to July single-family home sales in Manhattan Beach coming in at 423 or the large city of Redondo Beach’s 431 sales. The Palos Verdes Peninsula doubled those markets’ SFR sales volume. To be fair, Manhattan Beach and Redondo Beach have large condo/townhome
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The real estate market has been on fire. Pandemic-fueled demand for single-family homes, generationally low interest rates, and sparse supply have created the perfect storm in our local real estate market and across the nation. Due to the mechanics of how the Coronavirus spreads, condos and townhomes were made less desirable in 2020 and were market laggards when compared to single-family home prices. In my annual “Fearless Predictions” blog that I wrote the first week of January, I predicted that condos and townhomes would outperform the market in the second half of 2021 thanks to the vaccine, low interest rates, and affordability when compared to single-family homes. If you would like to read all my predictions
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