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In 2017, I wrote a blog post called “A Can’t Miss South Bay Investment,” which addressed the new California ADU (Accessory Dwelling Units) bills signed into law by Governor Jerry Brown. This was the first step in allowing for “granny flats” or “in-law units” to be built on owner-occupied single-family property, which was otherwise expensive or nearly impossible to get done in the past. For me, this was a “can’t miss” opportunity for homeowners in the South Bay to cash in on rental income by converting a garage or constructing a rental unit in their backyard. My optimism was soon quashed, however, as cities throughout the state could take the state law and amend certain aspects
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The Palos Verdes Peninsula is known for its single-family homes and suburban location. Prices here in many cases can be more affordable than the beach cities, but it is still not cheap! If you are looking to make a move to Palos Verdes but do not need the larger single-family home just yet, the condo listings throughout The Hill present HUGE value relative to single-family home prices in the area. There are condo options at a fraction of the cost to homes on the Hill and these can be a great starter option for buyers on a budget looking for a lot of bang for their buck. Rolling Hills Estates Condos Rolling Hills Estates has the
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The Manhattan Beach Sand Section has been the poster child of the incredible price appreciation in Southern California real estate since the Great Recession. New construction and spec building have been one of the main drivers in the Sand Section’s price growth and the new builds just keep on coming. Just about four years ago it seemed that anything brand new received multiple offers no matter how crazy the price. Today, that has changed a bit. Manhattan Beach buyers still crave new construction, but are now demanding more reasonable pricing in-line with comparable sales. As a result of this change, some spec offerings have been forced to cut prices and have been racking up months, if
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I get comments on my blog posts all the time. The strange world of social media and the internet seem to find a way to bring us together, good and bad. I am constantly surprised everyday on how my posts can inspire the best and the worst out of people. All I can do is be thankful people are reading and try to respond as professionally as possible. As the blog has matured, I am happy to report that the comments and responses have gotten more and more positive. Just over the past two weeks is a sampling of readers that made my day: Email: “Really good article. Well thought out, well communicated, excellent and balanced
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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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