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After taking a look at some recent December closings, there were two interesting and unique land sales in the 400-block of the North Manhattan Beach Sand Section. The area I will be discussing, is contained between 26th Street to the south, 36th Street to the north, Vista Drive to the west and Grandview Avenue (or a dead end into the Sand Dune) to the east. I have written about this area before, but it has been a minute. I enjoy taking a look at this market because lots are roughly 2,700 square feet and the size of homes built tends to be very comparable when maxing out the lot. The North Manhattan 400-block is an easy
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Black Friday to Cyber Monday is a wonderful time to score some great gifts at a nice discount in preparation for holiday gift giving. At the same time, the holidays are also a fabulous time for buyers to land an incredible real estate deal at a discount. If you have been following the blog for years or have been a client, you know I believe Thanksgiving Day to New Year’s Day is the Black Friday to Cyber Monday period for great residential real estate deals, so make sure to take advantage of it! Steps to Score a Great Deal Right Now The real estate market changes each and every year, so your strategy needs to change
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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 have really enjoyed writing investment-themed blog posts for my readers this month. So, I wanted to continue the theme and share some great buys that have occurred this summer. The average residential real estate buyer does not know how to properly underwrite a great deal. Oftentimes, your typical buyer will purchase, hold onto their property, and then hope their house is worth far more the next time they call their agent. I am going to break down some of the best deals in a few South Bay areas, so it can help in your search to know if you have yourself a great purchase. Below are what I believe to be some of the best
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Last June, I wrote a blog titled “Manhattan Beach Real Estate Sub-Market in Minor Correction.” In the blog post I discussed Manhattan Beach’s Sand Section walkstreets on the 100 and 200 blocks from 1st Street to 20th Street and how the sub-market was experiencing a minor correction. Now, 12 months later, it is safe to say this sub-market is in a full blown correction. Since the last blog, there has been less activity south of the pier and loads of activity between 15th and 20th Street. For this blog, I am going to focus deeper on the 15% correction between 15th and 20th and then try to bring some positive news from activity south of the
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South Bay Quarterly Performance If you have watched my recent quarterly updates on IGTV, you would know that Manhattan Beach and Redondo Beach had really rough first quarters that might make some market watchers nervous. The positive news, Hermosa Beach seems to be thriving. The small beach city is up across the board in the first quarter and even more so in the luxury market. More specifically, big Hermosa Beach houses with big Hermosa Beach views. If you have not seen my quarterly updates, you can find them on my IGTV through my Instagram account @richardhaynesrealestate. Record Sale in Hermosa Beach Hermosa Beach completed its highest sale of all-time just two weeks ago at $16 million.
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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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Now that spring is officially upon us, the South Bay real estate market will begin to heat up over the next few months. So before the official rush of spring selling season begins, I thought I would touch on some intriguing South Bay listings under $1 million. Hermosa Beach 1202 20th Place 3 bed, 1 bath, 1,176 sq. ft., single-family home Asking: $965,000 Finding a single-family home under $1 million in Hermosa Beach is almost impossible. This fixer property was recently cut just below $1 million, and if you are a shrewd negotiator, you might be able to get it even lower! This property has a chance to be one of the lowest 2,500 square foot
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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
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Each quarter I mail out a newsletter to my clients with a recap of the South Bay real estate market. Now that the third quarter of 2018 has come to an end, I thought I would give all my readers a sneak peek and show some interesting data points from the MLS. Palos Verdes Peninsula Affordable homes have been trending in Palos Verdes the past few years. Rancho Palos Verdes tends to offer some of the most affordable real estate on The Hill and was on fire during the first three quarters of 2017. This year, Rancho Palos Verdes price gains seem to be decelerating and up only 3 percent. After price declines for the past
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