The past year has been a wild one for many markets. While the weekly focus here is the South Bay residential real estate market, I do pride myself on following the equity and bond markets. The stock market, of course, is a huge store of wealth for buyers and sellers in the South Bay which, in turn, affects confidence and drives capital for real estate. Significantly bigger than the equity markets, the bond market is absolutely massive. It acts as another store of wealth, income, and obviously greatly influences mortgage rates via long-term Treasuries and actual rates via mortgage-backed securities. In order for me to feel like a well-rounded adviser to my clients, not only do
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Every six to 12 months I will check-in on marketplaces that have easily comparable home types. The apples-to-apples comparison helps to showcase growth or deceleration in certain areas and is helpful to study on occasion. One of my favorite markets to stop-by is the North Redondo submarket of Golden Hills. More specifically, “tall & skinny” homes within the Golden Hills area. Thanks to the pandemic driving all sorts of different blogs and data in 2020, I have failed to cover the “tall & skinny” market of late. The last time I wrote about the submarket was in June of 2019 and you can see a link to that post below. I will be taking some of
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As mentioned in most of my recent blog posts, I share additional forms of South Bay real estate data through different media channels. There are mailed quarterly newsletters, IGTV quarterly posts, and a podcast…I have dropped the ball on that and recorded just one episode. It is busy as a rookie dad and full-time Realtor. That said, the podcast will happen eventually every month, so thanks for being patient! Redondo Beach Year-Over-Year Data From a price growth standpoint, the city of Redondo Beach has done very well over the past few years. South Redondo has been strong and in recent years, North Redondo has surged higher due to its affordability and proximity to the beach. After
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This week’s blog is a blend between two blog posts that have received positive feedback. The two posts are: North Redondo Tall & Skinny Home Appreciation Has Been Unstoppable Which South Redondo Beach Large Condo Complex is a Better Value? The feedback was twofold: North Redondo tall & skinny homes are a hot topic for our readers A lot of readers enjoyed the breakdown between two options and how to consider each of them This brings me to my blended topic for the week: East Hermosa Beach Tall & Skinny Homes vs. North Redondo Beach Tall & Skinny Homes. Yes, Hermosa Beach has tall & skinny homes too. In fact, a lot of them. And no,
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For those who are not full time in the South Bay residential real estate business, it is probably difficult to decipher that there are seven distinct MLS areas in Redondo Beach. Furthermore, some individuals may have trouble just defining the difference between North Redondo and South Redondo. If you find yourself to be one of these individuals, be sure to check out our website for an easy breakdown on the MLS areas. Click here and the link will take you to our homepage where you can then click the “Neighborhoods” tab. Click on “Redondo Beach,” and from there, explore the seven different MLS areas with information on each, the current inventory, as well as some handy
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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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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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Golden Hills Redondo Beach Golden Hills homes are hot! I didn’t even have time to write a blog about my gorgeous remodeled listing on Steinhart Avenue because it was gone in a week…with multiple offers…over asking. These homes are flying off the shelves. In the last six months “tall and skinny” homes, more specifically in the northern part of Golden Hills, have averaged just about 14 days on market…that’s nuts! There have been 21 sales, and of those sales, 15 have sold over asking price. Like I said, this market is hot. But is it hot enough to make a quick sale on busy Ford Avenue? Ford Avenue Listings During the past six months there has
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North Redondo Beach It is no secret that North Redondo Beach real estate has skyrocketed over the last few years. In past blog posts, I have referenced countless sub-markets and asset types gaining big value in North Redondo. Improving school districts, easy commute to greater Los Angeles, and affordability, has attracted home buyers with willingness to pay more and more to get into this area. The Golden Hills sub-market, known for its “tall and skinny” homes, is popular for access to the fabulous Jefferson Elementary School. Last year, I wrote a blog post about new construction prices surging in a small sub-market within the Golden Hills area. This area bucks the trend of all tall and
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In honor of this past Black Friday, Cyber Monday, and my latest Instagram video post on @richardhaynesrealestate, I thought it would be appropriate to write about a local South Bay “deal of the week.” I don’t usually write a “deal of the week” post as it puts our buying clients at a disadvantage. That being said, there are a few properties in the South Bay that are even better deals than the one I will be writing about today…but I will reserve those for my current clients. The Deal 1410 Goodman Avenue in North Redondo Beach. Listed at $879,000 A legal duplex in Golden Hills Livable square feet of 1,110 A 2-bedroom unit and a 1-bedroom
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