|
|
|
|
|
| |
|
|
|
Cheap and Cheerful.....
the best condo for the money in Manhattan Beach!
Open Saturday August 7, 2010 1-4 pm
1450 Manhattan Beach Blvd # C... Manhattan Beach
Charming condo with lots of upgrades including new hardwood flooring in living room, granite counters in kitchen, sharp tile baths with bead board wainscot... Private laundry room and a 2 car enclosed garage with big storage room... walk to Polliwog Park, bike to the beach or shop at the Mall...
$559,000
Perfect for first ime buyers who want to live in Manhattan Beach..................
|
|
|
|
|
|
|
1450 Manhattan Beach Blvd # C... Manhattan Beach
Charming condo with lots of upgrades including new hardwood flooring in living room, granite counters in kitchen, sharp tile baths with bead board wainscot... Private laundry room and a 2 car enclosed garage with big storage room... walk to Polliwog Park, bike to the beach or shop at the Mall...
$559,000
Perfect for first ime buyers who want to live in Manhattan Beach..................
1450 Manhattan Beach Blvd # C... Manhattan Beach
Charming condo with lots of upgrades including new hardwood flooring in living room, granite counters in kitchen, sharp tile baths with bead board wainscot... Private laundry room and a 2 car enclosed garage with big storage room... walk to Polliwog Park, bike to the beach or shop at the Mall...
$559,000
Perfect for first ime buyers who want to live in Manhattan Beach..................
1450 Manhattan Beach Blvd # C... Manhattan Beach
Charming condo with lots of upgrades including new hardwood flooring in living room, granite counters in kitchen, sharp tile baths with bead board wainscot... Private laundry room and a 2 car enclosed garage with big storage room... walk to Polliwog Park, bike to the beach or shop at the Mall...
$559,000
Perfect for first ime buyers who want to live in Manhattan Beach..................
1450 Manhattan Beach Blvd # C... Manhattan Beach
Charming condo with lots of upgrades including new hardwood flooring in living room, granite counters in kitchen, sharp tile baths with bead board wainscot... Private laundry room and a 2 car enclosed garage with big storage room... walk to Polliwog Park, bike to the beach or shop at the Mall...
$559,000
Perfect for first ime buyers who want to live in Manhattan Beach..................
|
|
|
|
|
|
|
First pubic open house Sunday August 8, 2010....3011 Johnston Redondo Beach....
Don't miss out on this terrific home plus guest house. The main house is an 1860 sq ft 2 bedroom 1 bath with large family room, huge dining room and remodeled kitchen and bath.. The guest house is a charming studio with remodeled bath.
This is a wonderful mid-Century home with a definite Palm Springs resort feel...
$852,500
|
|
|
|
|
|
|
1450 Manhattan Beach Blvd # C... Manhattan Beach
Charming condo with lots of upgrades including new hardwood flooring in living room, granite counters in kitchen, sharp tile baths with bead board wainscot... Private laundry room and a 2 car enclosed garage with big storage room... walk to Polliwog Park, bike to the beach or shop at the Mall...
$559,000
Perfect for first ime buyers who want to live in Manhattan Beach..................
|
|
|
|
|
|
|
Just listed 3011 Johnston Redondo Beach....
Don't miss out on this terrific home plus guest house. The main house is an 1860 sq ft 2 bedroom 1 bath with large family room, huge dining room and remodeled kitchen and bath.. The guest house is a charming studio with remodeled bath.
$859,000
No open house this weekend but join me at the Broker Open house on Thursday July 29, 2010 from 12:00-2:00 pm
|
|
|
|
|
|
233 S. Meadows Ave. Manhattan Beach... We are almost ready for prime time ... This property will be placed on MLS on Monday.. Terrific lot in good east Manhattan Beach location. This huge 14,000 lot is ideally suited for a dream home with room for pool, spa, sport court or ? PLEASE..... DO NOT DISTURB OCCUPANTS!
|
|
|
|
|
|
|
612 10th Street #B, Hermosa Beach, CA 90254
Open House Sunday 1:00-4:00
This one has it all... including a new price... $959,000
This sharp rear unit is a short walk to downtown Hermosa and the Beach. Literally steps to the jogging path for an early morning run or a quiet evening stroll. Walk to the library and restaurants and beach concerts.
There's lots to love in this unit from the roof top deck with a peek of the ocean to the oversize laundry room with storage galore. The home is 2357 square feet with 3 large bedrooms, 2.5 baths, charming living room, a full size dining room and a breakfast nook, large family room with open views and a fabulous kitchen. with a terrific pantry. The 2 view decks give you a new perspective on beach living.
Click on the video for a quick preview and join me Sunday July 11, 2010 for a closer inspection.
|
|
|
|
|
|
233 S. Meadows Ave. Manhattan Beach...Truly a rare find! Terrific lot in good east Manhattan Beach location. This huge 14,000 lot is ideally suited for a dream home with room for pool, spa, sport court or ? The owners are clearing out some things and the property is not quite ready for prime time... Currently inspection of the property will be limited to offers made subject to inspection. PLEASE..... DO NOT DISTURB OCCUPANTS!
|
|
|
|
|
|
July 4, 2010 Fireworks shows in the South Bay-Beach Cities...While many cities will be cutting back next year on July 4th celebrations because of the economic situation... you can still catch fireworks shows this year. El Segundo: The fireworks show starts at 9:00.. get there early to get a good seat! Redondo Beach: The show starts at the end of the pier at 9:00. Parking is at a premium so go early. Torrance: The show starts at 9:00 at Wilson Park... this may be the last fireworks display for a long time so enjoy!
|
|
|
|
|
|
Information of properties that sold in May 2010 in the Beach cities of Manhattan Beach, Hermosa beach, Redondo Beach and El Segundo.... Hermosa Beach walk street As the Spring home buying rush moves into summer, the market seems to be settling down a bit from the frenzy earlier in the year. Inventory is up slightly but still at lower levels than last year at this time. Interest rates are at an all time low with conforming loans ( $729,750-) under 5% for a 30 year fixed rate loan. .. doesn't get better then that! Appraisals are coming in a market more often then they did last year as everyone adjusts to new laws and requirements. Prices seem to be on the flat side although slightly higher then last year for entry level properties in all the South Bay-Beach Cities. The big question is will the market continue to be rather stable in the South Bay-Beach Cities or will outside market forces once again force changes in our local market. Lou Barnes seems to think we need to see some major adjustments in the thinking of the boys in DC... and I agree. Economic conditions are far more dicey then we think. If the South Bay can continue to avoid major unemployment as an issue we may continue to see a fairly stable market with prices bouncing up and down in a relatively normal market pattern.
South Bay-Beach Cities: Sold May 2010
|
|
|
|
|
|
|
612 10th Street #B, Hermosa Beach, CA 902
This one has it all... sharp rear unit is a short walk to downtown Hermosa and the Beach. Literally steps to the jogging path for an early morning run or a quiet evening stroll. Walk to the library and restaurants and beach concerts.
There's lots to love in this unit from the roof top deck with a peek of the ocean to the oversize laundry room with storage galore. The home is 2357 square feet with 3 large bedrooms, 2.5 baths, charming living room, a full size dining room and a breakfast nook, large family room with open views and a fabulous kitchen. with a terrific pantry. The 2 view decks give you a new perspective on beach living.
$989,000
Click on the video for a quick preview and join me Sunday June 20, 2010 for a closer inspection.
|
|
|
|
|
|
|
612 10th Street #B, Hermosa Beach, CA 90266
Just in time for warm summer days and breezy summer nights... this lovely rear unit is a short walk to downtown Hermosa and the Beach. Literally steps to the jogging path for an early morning run or a quiet evening stroll.
There's lots to love in this unit from the roof top deck with a peek of the ocean to the oversize laundry room with storage galore. The home is 2357 square feet with 3 large bedrooms, 2.5 baths, charming living room, a full size dining room and a breakfast nook, large family room with open views and a fabulous kitchen. with a terrific pantry. The 2 view decks will make your inland friends jealous.
$989,000
Click on the video for a quick preview and join me Sunday June 20, 2010 for a closer imspection.
|
|
|
|
|
|
|
Wouldn't it be nice to have a world without war? It seems a shame that with all the technical and scientific advances we have discovered or invented over the years we can't find a better way to resolve our differences then to war among ourselves.
We have lost a number of our young people to war over the years. For my generation it was Vietnam that took so many lives. Today it is Iraq and Afghanistan. It doesn't matter what party your identify with or your stance on the war. Memorial Day is a day to remember all who died in the service of their country.
Local Memorial Events:
REDONDO BEACH
1. The city of Redondo Beach invites South Bay veterans and residents to its 2010 Memorial Day ceremony from noon to 11:30 -12:30. at the Veterans Park by the Redondo Beach pier, at Catalina Avenue and Torrance Boulevard.
RANCHO PALOS VERDES
The 25th annual Memorial Day Observance at Green Hills Memorial Park will be from 10 a.m. to noon Monday.
|
|
|
|
|
|
A look at home sales in Manhattan Beach, Hermosa Beach, Redondo Beach and El Segundo...
Manhattan Beach Strand
Seems as if Spring has definitely sprung for the South Bay-Beach Cities real estate market. Inventory is increasing slightly from the first quarter as more sellers are testing the market. While inventory is still well below that of last year at this time, there are definitely more choices then buyers saw a few months ago. Manhattan Beach, Hermosa Beach, Redondo Beach and El Segundo are all experiencing a rise in home sales after some very lean years. Prices at the entry levels are holding steady and even showing slight increases from last year in all the Beach Cities. That part of the market has been very steady now for about a year. The middle of the market is also showing signs of stabilizing while the upper levels are anyone's guess. There are sales in the $3.5+ range but most of them found buyers after some big price reductions. On the other hand, Strand properties in Manhattan and Hermosa are posting prices that are well above those found at the height of the market. These properties are the epitome of the old adage location, location, location. The South end of the Manhattan Strand and the North end of the Hermosa Strand seem to be the place for upper end properties. It will say a lot about the draw of our local real estate market if these homes find buyers near the asking prices. Beach Cities: Sold April 2010
|
|
|
|
|
|
Manhattan Beach: Days on Market April 2010 There have been definite changes in the Manhattan Beach real estate market from April 2009- April 2010. Inventory has gone down, sales have gone up and interest rates remain lower then many anticipated. Last year there were 178 homes and 45 townhomes for sale in Manhattan Beach in April 2009. This year there are 108 homes and 40 townhomes for sale. Last year by mid April 7 homes and 4 townhomes had closed escrow. This year 23 homes and 3 townhomes have closed escrow so far this month. Last year there were 39 homes and 11 townhomes in escrow... this year there are 53 homes and 14 townhomes in escrow. While the numbers don't come near the figures for the boom years prior to 2007, the steady trend of the last 3 quarters shows that the market may be beginning to stabilize. The upward push seems to be coming from the lower end as the entry level is showing stable to slightly higher prices then last year at the same time. The mid range of the market continues to bounce a bit but in general is finding a more solid course. The upper end the market is still looking for stability. Most of the high end homes that are selling are those that have lowered their prices from last year. There are a few exceptions of course, but in general prices on higher end homes have more room before reaching bottom. The days on market continue to show that the overall market still has some wiggle room before finding the low end of the market. Homes that are priced right are selling fairly quickly but generally inventory is seeing average market times of 90+ days. Price, location and condition are still the keys to a quick sale. If you have to sell fast you need to price it right and make it sparkle. Manhattan Beach: Market Snapshot April 26, 2010Manhattan Beach: Price Ranges April 26, 2010
|
|
|
|
|
|
In April of 2008 I listed 511 N. Dianthus in the Hill section of Manhattan Beach. The home was a probate sale. It had been owned by the same family since it was built in 1964. The initial listing price was $1,429,000 which was considerably less then the appraised value from the state and a private appraisal the heirs had ordered. Over the next few months the financial markets would begin to crumble and home prices would soon follow. This was the home Mom had dearly loved. She had planned the yard with care and loved her pond with the Koi and turtles. The owners had grown up in the house and remembered when it was the largest home on the street. They reduced the asking price a number of times, but it was difficult watching the home where they had grown up losing value in a rapidly changing market. While the property received offers, the owners and potential buyers were not able to reach an accord on price. As always there was lots of chatter about the real market value of the property. After being on the market for 10 months the owners decided to rent the house for a year. In March of 2009 the for sale sign went down. But that is not the end of our tale but rather the beginning. All was fairly quiet until the fall of 2009. In September I started getting a number of calls from agents and potential buyers who had toured the property while it was on the market wanting to know if the sellers were still willing to sell. The interest generally faded away when folks realized that the home was rented until the spring of 2010. A few months later as inventory continued to decline interest again picked up in the house. By the end of November I had three potential buyers who wanted to make offers on the house. The owners talked and decided that they would entertain offers on the property subject to the existing lease from the folks who had contacted us. If someone met their price great... and if not they would think about listing the home at the end of the lease term. It seemed that now folks were serious and we wound up in a multiple offer situation. One of the buyers agreed to the price the owners wanted and escrow was opened in December with a closing to be 30 days after the property was vacant. I had to chuckle when reading a comment about the sale on Manhattan Beach Confidential. It was interesting that a year ago many would have considered the current price over market value and now, even though prices declined in the last year, it was a sweetheart deal. The truth is that everyone who was interested in the property had seen it when it was listed. I probably had 10-15 calls from agents and principals after it went off market. There were multiple offers on the property... but only one of the buyers was willing to meet the price the owners wanted. The property had an appraisal done by the bank. The actual sale price was $1,050,000... however the reported price... $1,030,000... was lower as one of the new owners is a real estate licensed and the price reflects that commission was deducted from the sale price. I didn't report a higher price on the MLS but did note that the price reflected the adjustment for comp purposes. The new buyers have some great plans for the home and have promised me a tour when all is done. With their permission I'll take some pictures and post them. While many disagreed with me when the property was listed, this house has good bones and a great location. The new owners recognized that and knew that a bit of imagination and a good architect can make this a lovely home.
|
|
|
|
|
|
In a dramatic turnaround from last year at this time inventory has shrunk and sales have soared. With Manhattan Beach leading the way the number of closed sales in March for the Beach Cities was in triple digits in each city. These sales numbers haven't been seen since 2005. As reported in the Daily Breeze yesterday consumer confidence is rebounding across the country. Of the 52 closed sales in Manhattan Beach in March 15 were all cash. 20 of the sales had multiple offers with the final price above the asking price. Surprisingly only two of the sales had issues with low appraisals. A number of those sales were to builders who had dropped out of the market in 2007. As new construction has continued to sell off builders are seeing this as a great time to begin picking up inventory. One prominent local builder told me he expected to have 3 projects finished by fall. He indicated that his phone had been ringing off the hook for the last month with folks asking when he would begin building again. Hermosa and Redondo saw similar sale figures while the jump in sales in El Segundo was slightly smaller. The big news was of course builders begining to get back in the market. Hermosa nd Redondo saw a 40% increase in permits for new projects. With numbers like these buyers need to get ready for a boom in the real estate market that may exceed that of 2002-2003 as demand continues to rise... For those of you who think this is too good to be true... what can I say.. You are right and it is... Happy April 1!
|
|
|
|
|
|
Today Governor Arnold Schwarzenegger signed Assembly Bill 183(CA Homebuyer Tax Credit) into law. The new law is really an extension of the old California tax credit bill from 2009 that was so popular that it was out of funds a few months after it was passed. For a State that claims to be broke the bill allocates a large chunk of channge....$200,000,000 for the credit. The total allocation of $200,000,000 in tax credits is divided between first time home buyers( people who haven't owned a home for 3 years) and purchasers of homes that have never been lived in (new homes). Each category has $100,000,000 available until the credit runs out... which might be very soon judging by how quick funds dried up last year. A brief outline of the bill:1. The purchase of a qualifying residence must occur (close escrow) on or after May 1, 2010 or before December 31, 2010, or after December 31,2010 and before August 1, 2011, subject to specified restrictions. ( I believe this refers to new construction that was purchased prior to December 31, 2010 but not completed until later) 2. The amount of the tax credit is the lesser of 5% of the purchase price or $10,000. However as in the 2009 version there doesn't appear to be either an income or purchase price limit. So first time buyers in the Beach Cities or folks buying new construction.. no matter what the price... qualify for the credit. This has to make the folks at 360 South Bay very happy. 3. Only one credit will be issued to a first time home buyer that buys a new home. So if you bought a new home last year you don't get the credit again this year.
4. A “qualified principal residence” is an attached or detached home that will be used as the principal residence of the purchaser, is eligible for the homeowner's exemption under Section 218, and has either never been occupied, or is purchased by a first time home buyer.
5. A “first time home buyer” is and individual, or individual's spouse, who has no present ownership interest in a principal residence during the preceding three year period, as of the date of purchase. 6. The tax credit is paid over a 3 year period. You have to occupy the qualifying residence for at least 2 years immediately after the purchase. The tax credit is non-refundable, so if you don't actually use it during the specified time, you lose the credit and any credits you have taken will be recaptured.
7. You can reserve a credit prior to close of escrow. If you wait to apply after the escrow closes you must apply for the credit within 2 weeks of closing or lose it.
As a little bonus.. if you qualify for the Federal tax credit and are under contract by 4/30/2010 and close by 6/30/2010 you could likely get $18,000 as a credit from the Feds and the State if escrow closed after May 1, 2010... not a bad deal if you can get it....
Click for the full text of the bill... AB183
|
|
|
|
|
|
The Hermosa Strand Hermosa Beach has come a long way from the days when most of the City Council members were renters and Bikers ruled. The local elementary schools are some of the best in the state and parents have a choice between Mira Costa and Redondo Union for High School. Strand homes in Hermosa are priced very competitively with those in Manhattan Beach. Charming Walk street homes lure buyers looking for that small town beach cottage feeling rather then the more sophiscated homes found in Manhattan Beach. Hermosa has grown up and well qualified buyers with cash are taking the place of renters as old rental units are torn down and replaced with owner occupied homes. There were 49 homes sold during the period from October 1-March 9, 2010. During that time frame 7 sales were all cash, 22 buyers put down 25% or less down and 20 buyers put down 30% or more. Hermosa Beach: Down payment % for single family homes:
|
|
|
|
|
|
The Redondo Beach Pier
After I posted about down payments on home sales in Manhattan Beach, a reader asked if I would do a similar post on Redondo Beach home sales. I apologize for taking so long but I've been out of town packing up my Mom's home so she can move back to the mainland... but that's another story. Reviewing the percentage of cash used for down payments on recent home sales has pointed out the difference in Manhattan Beach home buyers and Redondo Beach home buyers. I was so intrigued that I'm going to post for Hermosa Beach and El Segundo in a few days to complete the comparison for all the Beach Cities. North Redondo and Manhattan Beach are opposites in the Beach Cities real estate markets. Manhattan Beach is of course the high end with North Redondo being the entry level. In Manhattan Beach all cash sales made up over 20% of the market. In North Redondo they were less then 10% and in South Redondo they were slightly above 10% of closed sales. In North Redondo 80 single family homes closed escrow from October 1, 2009-March 7, 2010. Of those 80 homes 6 were cash sales, 50 buyers put 20% or more down while 18 buyers used either VA or FHA funding less then 10% down. In South Redondo 37 homes closed escrow during the same period. 4 were cash sales, 21 were purchased with 20% or more down and 10 were purchased using FHA loans. In Manhattan Beach, of the 119 homes sold, only one property sold using FHA financing, and 115 sold with more then 20% down. North Redondo: Down payment % for single family homesSouth Redondo: Down payment % for single family homes**As with Manhattan Beach the figures are based on single family homes...
|
|
|
|
|
|
|
