Subscribe to receive our weekly

South Bay Real Estate Blog

Subscribe to our blog
Receive our blog posts directly in your inbox.
* = required field

Thank you!

We'll email you our weekly real estate blog.

During my time in real estate, I have learned certain clues give me a fast and fairly accurate analysis on the market. One of those clues is homes resold in a short period of time. I am not talking about flips where an investor adds value to a home, but rather resales where a home owner has done absolutely nothing. In the hot market of 2012-2015 I saw short term resales (12-24 months later) turn breathtaking price gains all with the owner barely lifting a finger. In a flat market, you will see little to no price gains on short term resales. And obviously, struggling markets on the decline will see short term resales go for
Read More

As the South Bay home market begins to wake from its holiday slumber, I went back to study this normally slow season. From my research, I found an unusually high amount of sales in the luxury home market. In only 42 days, from December 1st to January 11th, the luxury home market had some MAJOR sales! Hermosa Beach Lot Sale 1918 The Strand Asking Price: $7,200,000 2,547 sq. ft., 2,382 sq. ft. lot Sold for $6,800,000 Some might believe this sale will be the benchmark for land value on The Strand in 2019. With its bullseye location in the middle of Hermosa, many buyers will believe that similar lots to the less desirable south will sell
Read More

The Interest Rate Effect Interest rates are the most important topic facing the residential real estate market in 2019. This past year, The Fed allowed interest rates to rise too fast in hopes of slowing the economy. As a result, the real estate market has taken a hit. Although The Fed will be more cautious this year, Jerome Powell and his directors will raise the federal funds rate one to two additional times. The stock market will close higher in 2019 and in turn, bond market yields will rise. As a result, 30-year mortgage rates will climb to 5 percent in the second half of the year for the first time since 2011. This will hurt
Read More

Happy New Year! As we begin 2019, I am starting to make my annual predictions blog for the year. Until, then, I wanted to explore a few topics relevant to the New Year. Real Estate in January In my opinion, January is always a funky month in residential real estate as buyers and sellers are returning from the holidays and vacations. I believe there are great opportunities for both sides during this time, you just have to play your cards right. Buyers For buyers, January is a great month to score a deal. Here are a few reasons… Most buyers are focused on New Year’s resolutions and returning from vacation. Competition is still very low until
Read More

Every January I write my fearless predictions for the South Bay real estate market in the upcoming year. As the year comes to an end, I like to hold myself accountable and show readers how my predictions actually turned out. If you want to refresh your memory, check out my predictions for 2018 here. Let’s see how I did… Prediction Recap: Mortgage Rates Will Rise Moderately Prediction: I predict a rise of about 0.25% with a maximum jump of 0.5% before The Fed would step in to get rates under control. Recap: I was a little off, but, by year end, I could be close depending on where rates end up. According to FRED (Federal Reserve
Read More

As we approach the end of the year, I thought it would be beneficial to review sales and median prices from 2018. This data includes median income and how it relates to affordability. South Bay Median Prices and Closed Sales Home sales are down, not just in California, but all over the nation. Median price increases are also decelerating. How is this impacting the South Bay market? Take a look at these numbers from November YTD (year-to-date). Every area mentioned above shows that sales are down in 2018. In my opinion, this is a direct result of rising interest rates pushing buyers to the sidelines. On the flip side, every area shows that prices are up.
Read More

If you follow me on Instagram, then you know this post is brought to you by reader’s choice! I usually get the most readers when I write about the beach cities, but much to my surprise, the majority of votes for upcoming blog topics were for Palos Verdes. So, you asked, and here it is. Valmonte, one of my favorite neighborhoods, has had an interesting year! For today’s blog, I am going to give an overview of deals throughout this past year. Biggest Sales of the Year This year brought three of the five most expensive home sales in Valmonte, ever (#2, #4, and #5 if you are counting). Here’s the line-up: 3425 La Selva Place
Read More

Earlier this year, our office was buzzing with excitement over the new real estate Opportunity Zones created by the Tax Cuts and Jobs Act (TCJA) of 2017. This section of the TCJA was created to help under-served communities attract investment capital. Now, here at Manhattan Pacific Realty most of our business is focused on South Bay home sales, so Opportunity Zones was never a big topic of conversation among our clients. However, it seems people who normally wouldn’t be interested in this topic (local developers, homeowners, beginning investors) are now more interested since the tax benefits are significant. This brings me to today’s blog. Due to the heightened interest, I wanted to give readers some insight
Read More

East Manhattan Beach real estate has had a nice run over the past few years. If you have been watching my IGTV channel, then you know the first three quarters of 2016 were up 10.28% year over year. The same period in 2017 was up 5.78%. The strongest portion of this market has been new construction sales. It seems that prices continue to go higher and higher. And, although we are seeing a flattening of East Manhattan Beach price growth this year (down 3.68%), new construction homes have remained highly desired. So desired, that prices have warranted significant premiums above similar existing homes. New Construction vs. Existing Homes Looking at new construction sales versus existing home
Read More

With Thanksgiving quickly approaching, we are entering a traditionally slow period for real estate markets. So, I wanted to take this opportunity during the holiday week to show you some intriguing deals under $1 million in the South Bay. The holidays can be a great time to snag a deal! Manhattan Beach 644 Manhattan Beach Blvd #10 2 bed, 2 bath, 841 sq. ft., condo Asking $880,000 Finding a home under $1 million in the Manhattan Beach market is not always easy, especially in this condo’s specific location. Technically, this home is located in the Hill Section, but it is a stone’s throw from the Sand Section and it is actually closer to downtown than most
Read More