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In January, I wrote a blog post titled “South Bay Home Resales to Watch Closely,” which broke down the fastest and most accurate ways to analyze the real estate market. This blog post took homes that had sold just a short while ago and that were put back on the market with no improvements made. Below, I have shared the results of these sales, but for a full understanding, be sure to read the past blog here. Home Results 416 South Guadalupe Avenue in South Redondo Original Sales Price: $834,000 in March 2017 New Sales Price: $949,000 in April 2019 This sale is a big win for the Sellers and shows the market going higher. With
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If you have been following my blog for over a year, then you probably have come to learn that I tend to write about the market slowing down during the holidays and the Summer months. When the Fourth of July hits, you get a double whammy. A lot of people skip town this weekend and take real estate a lot less seriously until the Fall. The absolutely best time to score an awesome real estate deal, in my opinion, is between mid-November and mid-January during the holiday season. But what is the second best time? No question, for me, it is between July and August. And, with a long Fourth of July weekend this year, it
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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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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
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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
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The Palos Verdes Estates sub-market of Monte Malaga, known for its high-priced estate homes and stunning views, is beginning to offer lower-priced homes for first time home buyers. Surprised? When most Palos Verdes Estates (P.V.E.) residents think of homes in Monte Malaga, they think of streets like Via Visalia, Via Rincon, Paseo Del Sol, Via Arco, Paseo La Cresta, and of course, New York Hill, a.k.a. “Allende El Mar”. These streets are lined with gorgeous estates, stunning views, and some of the highest prices on The Hill. High-priced sales of note this year include: 1414 Paseo La Cresta: $8,00,000 (the almost 10,000 sq. ft. home named “Versailles on the Hill”) 1409 Via Arco: $4,757,000 (the custom
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Home Styles For years, home buyers have been shying away from the once popular architectural favorite: Mediterranean. This home style was all the rage for Baby Boomers in the 90s and early 2000s, and was a dominant style in Palos Verdes Estates (PVE) new construction over the years. Along with Mediterranean construction, PVE is home to many Spanish, mid-century modern, and contemporary homes, making today’s present day quest for “charm” a tough task for many buyers looking in the area. Outside of original ranch homes, which tend to be on the smaller side, it can be difficult to find the in-trend styles many buyers are looking for these days. What are some of those styles you
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Palos Verdes Drive Buying a home on Palos Verdes Drive is always an interesting real estate decision. Does the increased car traffic bother a prospective home buyer? Does the pricing allow buyers to get into an area that is normally unaffordable? How will the future home value be affected by the drive’s connotation? All of these are important things to consider and there is no one-answer-fits-all, especially considering that many sections of the drive have their own unique characteristics. For instance, P.V. Drive North in Rolling Hills Estates has property with a P.V. Drive address, but they are tucked away from The Drive on large estate lots with big homes. While P.V. Drive North homes in
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The Monster Lot Towards the end of July, Valmonte saw a rare and very large 22,412 sq. ft. lot come to market in the “Grove Section” at 2915 Via La Selva. The well preserved 1952 built home was charming but likely a gut or a complete tear-down prospect. Developers and dream home lot hunters must have been gushing over the property until they saw the price…asking a hefty sum of $2,475,000! Most buyers probably muttered to themselves, “It’ll never sell.” And who could blame them? The ask price would be the seventh highest sale in Valmonte history for basically a tear-down home. Comparables To further the somewhat shocking ask price was its very comparable neighbor, 2921
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With the summer in full swing, the market gets a little sleepy as people go on vacation before school starts and the warm weather begins to fade. This week I am going to focus on Palos Verdes because it still the best bang for your buck (in my opinion) based on price per square foot, lot size, parking, and amazing public schools relative to the beach cities. The market is large, not as efficient as the Redondo, Hermosa, and Manhattan Beach, and has old homes needing work which presents a whole world of opportunity. 26411 Dunwood Road in Rolling Hills Estates It is rare to find a single-family home under $1 million on The Hill. It
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