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Who’s HOT Manhattan Beach New Construction This is no secret but Manhattan Beach has been on a new construction kick. Buyers in this city tend to be high-income earners and want to focus on their business, not remodeling a home. Although East Manhattan Beach was down as a whole, new construction prices continued to make record highs even to this day. That being said, Liberty Village is setting new records for itself as well. The Tree Section was flat in 2018 and although new construction has slowed slightly, people are still picking up new builds at a strong pace. The Hill Section poses a lot of risks for spec builders, so when a newer well-done home
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The Valley Section of Hermosa Beach has a wide range of housing options. This area is home to some of the most affordable one- and two-bedroom condos in the city as well as some of the most expensive estate properties in the city. This sub-section is quite small. From Pier Avenue to the north and Herondo to the south, the east/west boundaries are tiny with Valley to the west and PCH to the east. It is only about 11 blocks. The Sophie’s Choice of Town Homes Most town homes in this smaller sub-section of Hermosa range from 2,000 to 3,000 square feet. The one defining factor between a large gap in price is whether it is
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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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If you tuned-in to our live podcast with DIGS Magazine last week, you probably heard me strongly recommending a purchase of an income property before buying your own home. Why? The numbers alone prove income properties to be the better financial move. If you are motivated by money, then you should really consider buying units in the South Bay rather than a single-family home. I am an owner of multiple income properties and choose to rent my primary residence because the numbers pencil that way. My sweet fiancée has even agreed to move into a duplex, triplex, etc. as our first home purchase…with some contingencies of course (like watching Real Housewives every night for the rest
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Median Home Prices in California According to the California Association of Realtors, the Los Angeles County median home price in December sat at $577,690. There is not much for sale by the beach in that price range except for some very small 2-bed condos in the Hermosa Valley (like 1600 Ardmore Avenue #219) or an even smaller 1-bedroom fixer in The Village in Redondo Beach (like 610 The Village #315). It has become a reality that buying a home under $1 million in the South Bay is hard…really hard. The Deal What if you could find a lot more space than a small condo, like maybe over 2,400 livable sq. ft. with 4 bedrooms, 2.5 bathrooms,
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In December of 2015, I wrote a blog about the affordability of Hermosa Beach condos. More specifically, I wrote about the large condo buildings on Ardmore and Pacific Coast Highway being the best bang for your buck.  Just six months later, I wrote a follow-up blog about the surge of those condo prices going from $575,000 in December 2015 to $650,000 in June of 2016. A 13% rise in a very short period!  Now, here we are in June of 2017 (12 months later) and I think it is time to revisit this topic to see if prices have continued to surge or leveled off. June 2016 to December 2016 This period was an interesting time for Hermosa Valley condos. Sale prices were surging up to
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The South Bay has become a mixed bag of micro-markets. A few years ago, everything was going up but now each micro-market has its own story. Some areas are still on fire while others are cooling off! Who’s Hot Hermosa Beach  Seriously, Hermosa Beach condos are HOT. If you read my blog back in December (Hermosa Beach Condos are on Fire!) then you know the market was strong. This strength continues and is probably even stronger than it was during the holidays. Today, only two condos are currently on the market. With average days on market and current supply below 30 days, sellers have all the advantages. Surprisingly, the high-end market in Hermosa Beach has begun
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The traditionally slow South Bay holiday period has officially set in. There have been fewer new listings and opened escrows and we expect more of the same as Christmas and New Year’s grow near. One area of the market that is not following this trend is Hermosa Beach condos. The Sand Section, Valley, and East Hermosa are all experiencing high velocity sales. Hermosa Valley I dove into the Hermosa condo trend after attending a brokers open last week at The Moorings complex in south Hermosa. This new listing, unit #49, came to market asking $995,000. This would be the highest MLS sale ever in the 75-unit complex’s history by $45,000 and listing a week before Christmas.
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A topic near and dear to my heart is the art and science of pricing. The biggest, most established agents claim they can sell your property because they can afford the most in marketing/advertising and have hundreds if not thousands of connections. The smaller, less established agents claim that since you are their one and only listing that they will hustle and dedicate 12 hours a day in the pursuit of selling the property through cold calls, door knocking, and letting every single person and agent in the local area know your home is a great buy.  Some of that matters and we can save that argument for another day, but the most important factor in
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Currently I have a listing in the Hermosa Valley (between PCH and Valley) for a client at 709 4th Street that went to escrow last week. We had multiple offers and accepted a contract that, in our opinion, was a very strong buyer. As a brokerage, we were very strategic in how we listed this property to not only push the price for our seller (the highest listing price ever for the 6-unit complex), but still present a great value proposition to potential buyers. It all worked out very nicely for our seller as we signed a contract a week from going to market. With that said, this listing along with a few sales in the complex over the past
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