Monday, February 8, 2016

Golden Hills: Location Location Location



There's a number of reasons we have seen such high demand for homes in the Redondo Beach Golden Hills recently but at the end of the day we can primarily attribute it to location, location, location. This is even more evident in the far northwest corner of MLS Area 154 where you are 2-3 blocks from Hermosa or Manhattan Beach at a fraction of the cost. Well if not a fraction, certainly 25-50% less anyway.

As the drone goes up you can see that it really is an easy bike ride and for some a walk or jog down to the beach. Not just me saying so. As the camera pans around you not only see that Manhattan Beach is just steps away across Artesia Blvd but also that you are further west than many homes located in East Manhattan Beach. Did I mention at a fraction of the cost?

And on a clear day like this you can see those mountains which are visible from many homes and sometimes even are snow capped. When we're not having a drought that is.


Wednesday, February 3, 2016

January 2016 North Redondo Beach Sales | Year Starts with a Whimper

North Redondo Beach Golden Hills Homes for Sale

There were 31 closed escrow in North Redondo Beach 90278 during January 2016. This exceeded the 28 homes sold during the same time period in 2015 but is still far below the average of monthly sales for 2015 and where we need to be to satisfy crushing buyer demand.

By comparison there were 27 sales in South Redondo Beach 90277, 15 in Manhattan Beach 90266 and only 10 in Hermosa Beach 90254. So much of the Beach Cities activity remains in North Redondo which is also one of the hottest beach markets in coastal LA County because of affordability, lifestyle, schools, amenities, etc.

I want to point out the obvious: with so few sales in the Beach Cities, it would be easy to conclude that sales are "down". As of this post there are 39 properties in escrow some of which will close this month starting to put us back on track to last year's pace of 533 sales in North Redondo. And, we are just entering the traditionally strongest selling season. What is up, for sure, are prices and more about that another time.

These are the properties that closed escrow in North Redondo Beach during January 2016 from low to high price.

North Redondo Beach Sales Jan 2016

(Yes, I know the print is a little small but more detail to follow.)

A few quick observations.

Monday, February 1, 2016

North Redondo Beach Home Prices Poised to Explode (Again)!

1508 Carver St Redondo Beach Golden Hills SFR

Way back when there was a book by the legendary manager of Fidelity's Magellan Fund Peter Lynch titled something like "Beating the Street". He wrote about things like balance sheets and P&Ls but his basic remise for the investor was go down to the local mall (ok this was pre-internet) and see which stores, restaurants etc were busy, gave great service had great products and if they were public companies maybe those were stocks to buy. That's still pretty good advice today. How many hours did you spend on Facebook or "Google" something? How's their stock prices doing? Exactly.

So, what, you may ask, does this have to do with Redondo Beach Real Estate? Great question.

I spent the last 2 weekends hosting Open Houses at my last two Redondo Beach Golden Hills listings. Each day there were at least 100 individual people (maybe 30-40 couples). Even on Sunday when we had the big wind storm and the rain was driving sideways there were 100 people at my OHs. Both of them: 1508 Carver and 1811 Stanford. Needless to say I received multiple offers, over the list price, for both properties. But that's a different story.

Here's the story I want to tell.

Considering that the last few weekends there have been about 30 active listings on the market in 90278, the buyer demand and real buyers in the market far exceeds what can be bought. We've been in a low inventory environment for a while but it is deteriorating not getting better.

So, if Redondo Beach was a stock, Peter Lynch would say it is a buy.

Why?

As I have been writing about for a long time, Redondo Beach, and North Redondo in particular is simply the best value in coastal LA County all things considered. Or put another way, you can still buy a nice home for under $1,000,000. Try that on the Westside, Manhattan or Hermosa or almost any other city or town. And if you can go over $1M you will be buying a really, really nice house.

Other observation.

Buyers have definitely figured it out and many are shopping up to $100K below the purchase amount they are approved for so they can engage in the multiple offer bidding wars.

Learn more at 1811Stanford90278.com.

Tuesday, January 26, 2016

1811 Stanford Ave | Golden Hills Tall & Skinny for Sale



1811 Stanford Ave Redondo Beach CA: Location, location, location! This exquisite remodeled and updated Golden Hills Single Family Residence sits high above the street with great neighborhood and mountain views to the east. Pride of ownership shows throughout. You will love the all new kitchen with high end appliances. Other updates include new exterior and interior painting, new carpets, new driveway, gleaming wood floors, updated bathrooms and lots more. Best of all there's a new roof so you don't have to worry about El Nino this winter. Conveniently located at the Hermosa Beach - Manhattan Beach border with easy freeway access and close proximity to shopping, dining, movie theaters and a quick 5 minute drive to the beach. Or just jump on your bike and head on down. In immaculate move in condition - just bring your furniture. Put this one on your list to see because you will want it to be your new home.

Visit 1811Stanford90278.com for more info

Monday, January 25, 2016

First Time Buyer Programs and Special Offers | Cash Back

Ellis Posner Redondo Beach Real Estate Listings


At an open house I did this weekend at 1508 Carver St in the Redondo Beach Golden Hills, there were over 100 people each day. Considering that there were only 33 properties on the market in 90278 this weekend (including Carver), there simply is not enough inventory to meet buyer demand.

The most common refrain I heard over and over again is that buyers had missed out on numerous properties with all the multiple offers, all cash buyers and other and other road blocks to buying a home these days.

Wednesday, January 20, 2016

1508 Carver St Redondo Beach | Golden Hills SFR for Sale



If you want to buy a Single Family Residence in a great location of the Golden Hills Triangle for the price of a townhouse this is your opportunity.

I just listed 1508 Carver St at a price of $819,000 but I would not be surprised if it sold for more. This is a 3 bedroom. 2 bath with detached office or "man cave" house that has been remodeled and updated. Check out the virtual tour above and the photos below and then contact me directly for a private showing.



Saturday, January 16, 2016

Redondo Beach Golden Hills Real Estate for Sale

Tall and Skinny SFR Redondo Beach Golden Hills

Redondo Beach Golden Hills is comprised of approximately 2500 homes nestled north and south of Aviation Blvd. Most of these are Single Family Residences on 2500 SqFt lots. They are rather affectionately known as "Tall and Skinnies" and mostly feature reverse floor plans with the living room. dining room, kitchen, and master bedroom upstairs. It is common to find soaring cathedral ceilings upstairs. There are very small backyards and no front yards. Ironically, they look like townhomes but are, in fact, SFRs.

During 2015 there were 93 sales in the Golden Hills out of 533 total sales in North Redondo Beach 90278. There was huge price acceleration with many properties selling above the list price with multiple offers. We'll soon see if that trend continue into 2016.

The area north of Aviation has been referred to as the "Golden Triangle" because it forms a triangle (well sort of) bound by Manhattan Beach and Hermosa Beach CA. Boundaries are Aviation, Artesia, and Harper which is the boundary street between Redondo Beach and Hermosa Beach.

Thursday, January 14, 2016

"Lifestyle" Buyers Work from Home Offices

Do YOU work from a Home Office?

I think we all should recognize the following trends over the last 10-15 years. More workers either "tele-commute", work from home, or own their own business that they can run from anywhere. So remember those days of everyone putting on "business" clothes and heading to the office? Over for many of us and office space is down for most companies. Those that do have offices are going to different concepts ie "flexible" and "creative" space.

So for those not hanging out in Starbucks with their laptop, they have most likely converted a room of their house, or at least a corner, into a home office. Nothing new about that but with the sheer numbers of people falling into this bucket, the requirements on home SqFt, which have certainly gone up is more than just ego: it is a requirement.

All this is part of the trend of the lifestyle buyer, a broad term that encompasses many needs but goes beyond just home offices. So, here's an interesting graphic related to the differential between the loss of commercial office space and the growth of home office space.


Tuesday, January 5, 2016

First Time Home Buyer Redondo Beach CA

Are YOU a Redondo Beach First Time Home Buyer?

One of the most common calls I get these days goes something like this: "Our landlord is raising our rent and we can't afford it anymore so we have to buy something." And, truthfully I feel for anyone who is paying far more in rent than it would cost them to own a similar property.

Now I'm not saying that there aren't good reasons to lease. We've all been renters at one time or another and there is a time and place for everything. But in general, paying $40,000 per year for multiple years to rent is just not a winning proposition for anyone except maybe the landlord.

FYI, some of the other reasons I find first time buyers jumping into the market are family formation, baby on the way, moving out from parents or room mates or recent relocation. All good reasons.

So, here's the first bit of advice I can offer: "There's just enough information on the internet to get you totally confused." This includes everything from listings that appear on the national portal sites and broker IDX sites to advise on forums. And as a ground rule best to take what your friends, co-workers, family members and others advise you with a grain (or two) of salt. Chances are when they bought their home that the market, lending guidelines, and process was different - even if it was just last year.

Here's the top five most common questions I get from buyers. Or, if not these some pretty close variation.
  • Why are they selling?
  • Will the seller take less? 
  • Can I  lose my deposit? 
  • What if my loan isn't approved? 
  • When can I get the keys? 
And  here's how I usually answer them.

Saturday, January 2, 2016

Selling Redondo Beach Real Estate | First Remove the Clutter



As soon as most Redondo Beach homeowners decide to list their home for sale they start to consider all kinds of improvements so that they can maximize their selling price. Often they overlook the simplest, most cost effective thing you can do which is to declutter. Just get rid of all that "stuff". And it is not expensive to do.

So why do home owners hang on to most things? Great question. We've all (including yours truly) collected lots of things over the years that we either think we can't live without or that has some sentimental value or that we will use someday. Might be true but if that's the case either move the items you really don't need to the garage or rent a storage space.

What I've noticed over the years is that when buyers are looking at multiple properties on any given day they get easily distracted and by the time they get home often can't remember one from the other. Which is why presenting your home in the most pristine and professional way possible is of the utmost importance.

Additionally, it is a tendency of buyers to think that if your home is "messy" it has not been taken care of and there is deferred maintenance and other issues. While that may or may not be true, there's no reason to not make your home look as good as possible. I'll bet that you wore some nice clothes to that job interview or first date.

So after you've removed the clutter, what comes next?

Each situation is different but I would highly recommend painting any rooms that are a dark color something more neutral, replacing stained and worn carpet with something fresher and if the house is vacant you want to stage it.

Here's some pics of homes I think "present well".