In a home market like California where affordability is at its second-lowest level in 15 years, you know that the South Bay is going to be even more expensive. Currently, the median home price across the state is $671,520. So if you can find a single-family home in the Beach Cities or Palos Verdes Peninsula for under $1 million, then for many, that feels like a huge score. It may seem impossible to find a home in that price range, but they do exist. I am going to share a submarket that still can deliver homes under $1 million, and then run some comparable sales to see if the investment might make sense for you. Redondo
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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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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 sub-markets
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After recapping the 2016 value areas in last week’s blog, I would like to point out some areas in the South Bay that I believe present solid value for 2017. If you are shopping in the below mentioned areas, then have no fear as they will have upside potential. Redondo Beach El Nido east of Inglewood Avenue Just like the 2016 value areas El Nido makes the list again! This time it is homes east of Inglewood Avenue. Now that west of Inglewood Avenue has had a nice run, buyers will sacrifice and jump to the other side of the street. It is already happening, but has potential to run even more in the next 12 months. Just be careful and
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We are right around the corner from kicking this June gloom and heading straight into the South Bay summer. This marine layer reminded me of a 2016 June blog titled Value Areas in the Beach Cities. In this blog I examined areas offering a ton of bang for your buck relative to nearby markets. Today, I want to re-examine those areas and share value areas for 2017. MB Liberty Village Starter Homes In 2016 Liberty Village offered great value relative to the other areas in the city of Manhattan Beach and was primed to continue running. Here are some of the comparables from then and now… (2016) 2204 Manzanita fixer sells for $1,395,000 (2017) 1408 Manzanita fixer sells for $1,450,000 If you jumped
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