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In North Hermosa Beach,  it is very tricky to generalize market value. There are a variation of lot sizes, town homes, property views, and income properties, which makes it difficult to give a perfect breakdown of this sub-market. That said, the majority of single-family home sales in this area sit on a 2,500 sq. ft. lot, so for today’s blog, I will focus on these properties to give you a general guide on the area’s value.   Newer Construction with Views As many readers have learned over the years, new construction drives the market by the beach. Since the blow-out sale of $5.25 million at 230 34th Street back in 2016, the market has delivered three
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Most of my blogs consist of analyzing sales, appreciation, and under-priced deals. Today, I want to focus on a market that is larger than the for sale market in Los Angeles County: Rentals! Rentals are an extremely important part of the real estate economy and should be considered as part of anyone’s real estate strategy.   Renting in Palos Verdes Estates Palos Verdes Estates tends to be heavily dominated by owner-occupants, so leases in this area are harder to find than in the beach cities or surrounding South Bay communities. Even though rental supply is restricted in Palos Verdes, the demand is not as high as you might think because most people moving to The Hill
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August in the South Bay tends to be a slower month for real estate. During this slow time, I thought it would be beneficial to examine different home offerings under $1 million. Palos Verdes Peninsula This may surprise some readers, but Palos Verdes does in fact have inventory under $1 million. Most of these listings exist in Rancho Palos Verdes on the east side of The Hill. Asking $1 million on the dot, 5320 Ironwood Street is located in the popular Silver Spur area. This home can certainly be had under that $1 million price tag if you are looking for a fixer in a great school district. You will not find single-family homes under $1
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Golden Hills Redondo Beach Golden Hills homes are hot! I didn’t even have time to write a blog about my gorgeous remodeled listing on Steinhart Avenue because it was gone in a week…with multiple offers…over asking. These homes are flying off the shelves. In the last six months “tall and skinny” homes, more specifically in the northern part of Golden Hills, have averaged just about 14 days on market…that’s nuts! There have been 21 sales, and of those sales, 15 have sold over asking price. Like I said, this market is hot. But is it hot enough to make a quick sale on busy Ford Avenue? Ford Avenue Listings During the past six months there has
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The Sand Section in North Manhattan Beach can be quite a confusing market for someone not intimately familiar with how the area is valued. There is a hodgepodge of factors to analyze in this ever-changing market: walkstreets versus alleyways, single-family homes versus town homes, half lots versus full lots, tear downs versus fixers, etc. These factors are just scratching the surface…as you dig deeper there is much more to consider. In today’s blog, I will breakdown a small micro-market within North Manhattan Beach (the 400-block!) to give you a clear picture on value in this specific area. For the sake of this blog, I want to focus on the “highest and best use” properties. These properties
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Today I am going to touch on the topic of interest rates, the Federal Reserve (Fed) balance sheet normalization, and how it is affecting real estate today and in the future. Below I will share my exploration of charts from the Fed and a breakdown of what exactly is influencing interest rates. I am not an economist or financial advisor; I am a real estate investor and local broker studying complex economic topics and how they will impact our local South Bay market. My hope is to shed some light on a topic that will help my readers, clients, friends, family, and anyone interested in real estate.   Fed Normalization Before I dive in, I wanted to
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With the Fourth of July holiday this week, the real estate market has taken a short pause. I wanted to take this time to share a few quick notes on local happenings throughout The Hill and Beach Cities that could impact the surrounding real estate market.   Palos Verdes Peninsula/Rolling Hills The famed Hacienda de la Paz at 1 Buggy Whip Drive in Rolling Hills is finally going to auction. After five years of being on and off the market, it looks like the Seller is going to let market forces determine the value. Originally asking $53,000,000 in 2013, the 7.4 acre Spanish estate is currently on the MLS asking $40,000,000. Per the MLS and auction
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Oftentimes you’ll hear people around the South Bay say, “Beach real estate never goes down…it’s the safest investment around.” Is that actually true? U.S. bonds offered by the U.S. Treasury are more generally considered the safest investment in the world and they are oftentimes considered “riskless” investments. In this blog post, I want to share what the local market thinks about the best income properties, and if premier South Bay real estate is considered the safest investment by investors.   U.S. Treasuries Since 1776, the U.S. Treasury has never failed to pay back its lenders. When you purchase a U.S. bond, it is backed by the “full faith and credit” of the U.S. government. This is
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Every year around this time I like to write about undervalued areas in the South Bay. There is no substantial evidence as to why these areas are undervalued. This blog post is just an active real estate agent making a gut call on areas that are lagging the rest of the market or are just plain cheap. If you want to test my gut feelings, I will recap my blog post from last year on what areas offered value. For reference, check out last year’s value area blog here and also the recap of 2016 here.   Value for 2018 Finding value in the Beach Cities and Palos Verdes has proven to be difficult this year. Most
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Manhattan Beach Walk Streets After years of price appreciation, some of the most highly coveted real estate in the Manhattan Beach Sand Section is in correction territory. By no means is this meant to cause panic or scare anyone into selling their real estate. This is simply an analysis of past sales in a small Manhattan Beach sub-market that got a little ahead of itself on pricing. This small sub-market in question is the Manhattan Beach walkstreets. These homes sit on full 2,700 sq. ft. lots on the 100 and 200 blocks. More specifically, the homes discussed in this blog are located south of the pier to 21st Street, which tends to be the most desired
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