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Important Real Estate News Good News: Forbearance Grows but Flattening Mortgage forbearance plans continues to grow according to the Mortgage Bankers Association. There were about 4.1 million mortgages in forbearance between May 4 and May, 10 which is around 8.16% of all loans outstanding. It is still growing, but if we can “flatten the curve” here and put an end to homeowners not being able to make payments, that is very positive news. Good News: Rent Collections According to the National Multifamily Housing Council’s Rent Payment Tracker, 87.7% of apartment households made a full or partial payment by May. That is an improvement from the April 13th numbers, where the number stood at 85%. According to
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Last week, I discussed how the Manhattan Beach market was ramping up its spring selling season, whereas other South Bay markets will likely start a month or so later. Due to the activity, this post is a continuation of some new listings and some recent sales to demonstrate how certain sub-markets have performed and where they might go. Manhattan Beach Walkstreet Action For this section, I want to focus on the 100 and 200-block walkstreets around the pier. For reference, south walkstreets are defined here as Manhattan Beach Blvd. to 1st Street, while north walkstreets are defined here as Manhattan Beach Blvd. to 19th Street. Let’s dive into the north walkstreets first. North Manhattan Beach Walkstreets
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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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Millennials An online survey conducted by Harris Poll on behalf of Nerd Wallet recently found that millennial parents (ages 18-34) are “supersavers.” Other interesting findings shared in the report… • Among employed millennial parents, 38% contribute MORE than 15% of their income to retirement savings. • Very few are not saving anything; only 7% save nothing (compared to 18% of baby boomer parents). • If their savings rate continues, millennial parents could be setting themselves up to retire with $1 million more than baby boomer parents and $400,000 more than Generation X parents. Another statistic I found impressive, was that the median millennial parent saves 10% of their annual income. That is substantial compared to other
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This past week brought a large number of fresh home listings to Manhattan Beach. Now that the spring selling season is under way, we expect more listings and more buyers gobbling up that inventory. We noticed that of the new to newer construction, there was a nice supply of contemporary style homes to hit the market from the Sand Section to the Trees, and even to East Manhattan Beach. So if you like contemporary, then you are in luck…take a look at these four beautiful contemporary listings: Sand Section 216 9th Place This brand new contemporary spec home was featured on the cover of Digs Magazine and  “commands unobstructed Strand-like views, without the Strand-like price” to quote JocLene Davey
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