Redondo Beach Bank Owned Foreclosures (REOS): Condos, Townhouses, Single Family Homes for Sale

Currently there are 10 bank owned REO foreclosures for sale in North Redondo Beach, CA 90278. Some of these are good deals, some junk and some are simply over priced. Read the comments and you be the judge.

511 Meyer Lane Unit 16: This 3 bedroom, 2.5 bathroom end unit REO townhouse for sale initially hit the MLS at $472,000 which was over priced considering that the price point for the 2 bedroom units (with bonus area not included in the sq ft) has been around $399K. No doubt the extra bedroom and neighborhood views add value and the current MLS list price of $429,000 is more in line with where the listing agent and asset manager can expect to see offers. This unit has a little grassy outdoor space adjacent to the property for the owner's use. The $305 per month HOA dues include the use of the pool and facilities. The complexes on Meyer are offering reasonable "beach" value right now but Meyer is a fairly busy pass through street that is partially commercial use and the street parking is not great.

2519 190th Street: Let's face it, 190th is not an easy sale but someone should scoop up this 1235 sq ft 3 bedroom 1 3/4 bath single family house for sale on a 5000 sq ft lot at the MLS list price of $449,000. This really is a charming house with great curb appeal, open floor plan with new carpet and paint and a recently remodeled master bath, newer dual pane, french windows, a covered front porch and fully fenced, front and side yards. The attached 2-car garage with laundry area is accessed from the alley and there is room for additional vehicles. If you can get past the 190th St location, it is a decent REO to invest in.

1507 Flagler Lane: This Arico listed single family home foreclosure has only recently been listed for sale on the MLS. At a list price of $459,000 we think it is a little high for a REO considering the size of 1050 sq ft. There are 3 bedrooms but the lot size of 3758 is definitely small considering that buyers for this kind of property whether REP, short sale, or standard are looking for 5000 sq ft lots. The kitchen is in its original 1961 condition and the house needs some updates. The best feature of this foreclosure listing is its location pretty far west for MLS Area 152.

1717 E Van Horne Lane: This bank owned REO foreclosure for sale is your 1960's style living rooms down floor plan Golden Hills product that are pretty tough sells these days. Most buyers find the lower level bedrooms to be cold, dark and undesirable. This particular property has some other truly horrible features such as bricks that are not secured as the floor of two of the downstairs bedrooms. The upper level, or rather the ground floor entry level features a usable and open living room and kitchen with neighborhood views. This REO foreclosure initially hit the MLS listed for sale at $610,000 which was preposterous. It has not been reduced to $547,000 but it's very likely this could change hands much closer to or under $500K. Even though this floor plan features over 1500 sq ft and offers 3 bedrooms, truthfully in better times these properties would be knocked down and replaced by larger newer structures building up on the 2500 sq ft lot. But as you know, these are not normal times.

2305 Clark Lane Unit A: OK, this bank owned foreclosure property listed for sale is a good deal. Over 2000 sq ft 2-on-a-lot townhouse feels like a single family residence. The home offers a bright, open, functional floor plan with a large, inviting living room w/ fireplace, separate dining room, family room w/ sliding doors opening to large outdoor patio area w/ storage. Large kitchen w/ breakfast counter and eating area create a flowing floor plan ideal for entertaining. Powder room on 1st floor. Large master suite features tons of windows and plenty of natural light, walk-in closet and a master bath with dual sinks and separate shower and tub. Large direct access 2-car garage. Home has been recently re-painted and a new roof was installed January 2012. MLS list price is $549,000 which puts it at $269 sq ft right out of the gate. This one will sell fast at or above the list price.

2006 Aviation Way Unit A: Based on the size, 2778 sq ft, location, and being a 4 bedroom unit on the surface this is a great bank owned REO foreclosure deal for sale. The property includes mahogany hardwood floors, city light views, front patio and sundeck, some stainless appliances, extra large master suite, vaulted ceilings, recessed lighting, large open living room with fireplace, seperate laundry room, and a large downstairs bonus room perfect for guest quarters or office. But truthfully it needs updating. A lot of updating. But at a list price of $563,900 in the MLS, this REO is being marketed at about $203 per sq ft. Wow.

1607 Blossom Lane Unit 2: Light and bright tri-level townhouse in a desirable neighborhood. Open floor plan, perfect for entertaining. Living room with vaulted ceilings, fireplace and huge deck w/ city views. Powder room, formal dining room and step-up breakfast nook all located off a large, open kitchen. Beautiful stone floors in upper level, new carpet in bedrooms and fresh paint throughout. The second level has 3 bedrooms, w/ the master including it's own bath and very large walk-in closet. Large bonus room w/ closet that could be a 4th bedroom located on the lower level off the direct access 2-car garage. At 2237 sq ft this bank owned REO foreclosure is reasonably priced for sale in the MLS at $589,900. Based on the condition, it should sell for under $550K which a smart buyer will figure out if they can get past the Tudor exterior, etc.

2310 Curtis Av Unit 1: Another Arico listed REO for sale just 4 blocks to Manhattan Beach. Nice front unit with over sized private balcony off master. Home is in pretty good condition. Kitchen has custom cabinets, gas cook top, tile counters and tile floors. The living room has a fireplace. There is direct access to the attached two car garage. 3 bedrooms, 2.5 baths, 2190 sq ft built in 1986. Listed in the MLS for $634,900, not really a value price for a foreclosure.  The list price may need to be lowered to $599K to make this one more attractive. Nice garbage cans in the pics, huh? What's up with these REO listing agents.

2311 Clark Lane Unit A: This bank owned REO foreclosure for sale is a deal at the reduced current list price of $639,900. Built in 1997, this property features large rear yard, tile counters in kitchen, soaking tub with seperate shower and dual sink vanity in master, fireplace in master with tre ceiling, balcony off bedroom, dining area off kitchen with what appear to be wood flooring and breakfast bar, updated cabinets in kitchen with tile counters, interior laundry, fireplace in living room, walk in closet in master, and attached 2 car garage with direct access. 2115 sq ft with 4 bedrooms, at this price it compares favorablly with the newer product priced in the upper $800's.

531 Anita St: Looks good on paper but buyers just have not responded well to this property either as a short sale or foreclosure REO for sale. Currently for sale for $661,000 this single family house is 1635 sq ft and has 4 bedrooms and a large lot. But, as with other houses on Anita (190th) across from the power lines, it is a tough sell. Most buyers have found the floor plan to be cut up and the sq ft to not be that usable. Let's see what price this one closes escrow at and how long it takes.

North Redondo Beach Real Estate Sales November 2011: Prices and Values for Condos, Townhouses, and Single Family Homes

Redondo Beach Real Estate Market Trends, Statistics and Data for November Sales of condos, townhouses, and single family houses.

During November there were 30 home sales in North Redondo Beach as reported in the MLS. Of these 17 were single family houses, and the balance were either attached or detached townhouses which as we point out quite often are, in fact, all zoned "condo" from a legal perspective as there are CC&Rs, a HOA association (either active or not) and common areas.

What's hot in Redondo Beach Real Estate? The sub $500K price point and particularly sub $400K homes are selling and selling quickly. Anything in the Jefferson Elementary School area is highly desirable as is new construction or "turnkey" properties. While there is always a market for "fixers" truthfully, many sellers are over pricing these homes. if you have a townhouse to sell, you are in better shape if it is detached or at least an end unit and unless there are special amenities, buyers are looking for low HOA dues.

In the value category, 9 sales were under $500,000 and 4 were under $400K with one sale less than $300K.

MLS Area 152 (South of Artesia Blvd) continues to be very desirable with 10 homes sold. Area 151 (North of Artesia Blvd) had 6 sales as did El Nido. There were 8 houses sold in the Golden Hills (Area 154) which was a very strong month for Area 154.

There were 4 bank owned foreclosure sales (REO) and 2 short pay (short sales). This is consistent with the recent trend we've seen of 20% of real estate being sold in North Redondo Beach categorized as "distressed". The 4 REO sales refelct the growing inventory of bank owned properties which has steadily grown over the last year (see chart below). In fact the bank currently are carrying enough homes in their inventory to satisfy almost 2 months of sales! Fortunately for equity sellers, all these properties are not being placed on the market simultaneously.

Here's a recap of some properties that interested us because they were great deals, bad deals, or for some other reason. Scroll down for a list of all the sales for November.

NEW CONSTRUCTION

1717 Reed St, Redondo Beach CA, 90278: This new construction "tall and skinny" went into escrow before it even hit the MLS. The "sister" house at 1715 Reed was actually listed so fortunately we have some details and pics. oversized street to street lot with no rear neighbors. The unique floorplan features 4 bedrooms upstairs, and one bedroom/office downstairs. Large open kitchen and family room offers a great entertaining space along leading to a large patio with fireplace, water feature, and grassy backyard. 5 bedrooms, 2.5 baths, 3200 sq ft lot, 2470 sq ft house. Listed by Shorewood Realtors.

2702 Gates Ave Unit A, Redondo Beach CA, 90278: Front unit of an Anastasi 3 on a lot townhouse project. 1873 sq ft, 4 bedrooms, 2.5 baths. Natural maple cabinets in kitchen and bath, hickory distress hardwood floors in living and stairs. Kitchen and bath finished with travertine and marble. There is a second bedroom adjacent to master bedroom which makes this townhouse floorplan a lot more useful than the standard 3 bedroom with only 1 bedroom upstairs. It was originally listed for $689,000 which was considerably over priced considering how far east it is located. This townhouse eventually sold for $620,000 after 195 days on the market. If you are looking for new construction, this MLS "quick search" should be useful:

North Redondo Beach New Construction Townhouses, Condos and Single Family Houses for Sale

FORECLOSURES - REOs and SHORT SALES

As noted above, homes in some state of foreclosure, either short sale or bank owned REO, accounted for 20% of the properties sold in Redondo Beach during November. Probably the best deal in this group was the REO at 1922 Gates Ave Unit A. This detached townhouse just 1 block east of Manhattan Beach was built in 2005 and measure an incredible 3020 sq ft. At a sale price of $675,000 that's $223.51 per sq ft.

We also liked 609 Meyer Ln Unit 3 which is a 3 bedroom townhouse measuring 1479 sq ft. Unlike other units on Meyer, all the sq ft was above ground and included in the tax rolls. The kitchen needs a major update but the master bedroom was quite large and has an ample walk in closet. The property features a large living room with a real wood floor. That townhouse unit sold for $395,000 and was purchased for all cash so maybe it is going to be used as an investment property (possibly grossing $30K plus per year). The sub $400K price point remains very, very hot real estate in both North and South Redondo Beach. North Redondo Beach REO Foreclosures - Townhouses, Condos and Single Family Houses listed in the MLS.

The short sale at 1104 Harkness was a great deal for the buyer at $299K. Wow. The location is excellent, and with a reverse floorplan having the bedrooms downstairs, this unit does not feel "apartmenty" (yes, we know that's not a word) and has a usable upstairs great room, terrace, and fireplace. There are a number of short sale opportunities right now in North Redondo Beach and it is easier to get this files approved than previously if the agent is experienced and the seller cooperates.
North Redondo Beach Short Sales - Townhouses, Condos and Single Family Houses listed in the MLS.

DETACHED TOWNHOUSES

We've long maintained that detached townhouses (2 on a lots) in Redondo Beach remain some of the best values in Los Angeles County. Many of these properties have inactive HOAs (no dues) and homeowners are free to arrange for their own insurance (including earthquake), gardening, and other services. While 90% or more share common driveways, there are some corner units having no common driveway (and the need to have joint liability insurance for the common area). Both varieties are for all intents and purposes (almost) single family houses) and many lenders and FHA are less stringent in their requirements re: HOA cert in order to approve loans.

We really liked the sale at 1813 Belmont Lane Unit A. Here's why. It is a front unit with both a front and back yard, 4 bedrooms, over 2400 sq ft, built in 1999, upgraded with Brazilian hardwood floors and all the bells and whistles and within walking distance to Jefferson Elementary School. About the only downside is that it is on the north side of the street - a sunny backyard would have been a nice touch. The detached townhouse sold for $789,000 which we thought was a great deal for the buyer. The listing agent was Shorewood Realtors. Here's some others: North Redondo Beach MLS Listings -  Condos, Townhomes and Single Family Houses for Sale $600,000 - $800,000.

SINGLE FAMILY HOUSES

717 Amy Lane, Redondo Beach, CA: This 5 bedroom, 4.5 bathroom, 3301 sq ft single family house on a 5000 sq ft lot has all the bells and whistles you would expect for a home built in 2000 and sits on a "private" street. Granite, maple, stainless steel, 3 fireplaces, marble, frameless showers, etc. While some buyers might not choose this location as their first choice, try to find another 5 bedroom of this size and age in this condition in North Redondo. You won't.
 
1824 Harper Av, Redondo Beach, CA: Also built in 2000, this Golden Hills single family residence (SFR) sits just a few lots removed from Manhattan Beach and from this location you can walk or bike to the beach in Hermosa. This is your standard Golden Hills tall and skinny and was updated just last year. Harper is a very desirable location sitting on the border of both Hermosa and Manhattan Beach. A few steps in either direction and the price would be considerably higher. 


REAL ESTATE FORECAST

The shadow inventory of bank owned REOs that are not currently on the market has been above 50 in North Redondo Beach for the past few months. With about 33 homes per month being sold (on average) during 2011, this means that there is about a month and a half of inventory backlog just from the bank's REO inventory alone. If the banks only place a few of these on the market at any given point then, like maybe 3-4 per month, it would take a year just to clear the current inventory.

If you want to buy Redondo Beach Real Estate and can wait, time is on your side if you are willing to put up with the hassles of buying a REO. If you want to sell Redondo Beach Real Estate, work with an agent who will set your expectations reasonably, study the data carefully and price your home to sell. There is no "testing the market" right now and you do not want to see your equity eroded as one of the bank owned REO foreclosures hits the market.

Prices in some segments and neighborhoods will continue to decline, possibly as much as 3-5% this year, while other home prices will stabilize.

Here's the November Sales......

ADDRESS                       BD/BA    MLS #     AREA   DOM   BUILT  PRICE      SQ FT    TYPE
1104 Harkness Ln  #C         2/2      S11096511      152        64       1974    $299,000       1,071     Townhouse
1813 Kingsdale Av                2/1      S11102107      152        62       1949    $320,000          784    SFR
2209 Rockefeller Ln #B      3/2     S11050905     152       181       1978    $367,500       1,073     Townhouse
609 Meyer Ln  #3                 3/3     S11131056      153        15        1976    $395,000       1,479     Townhouse
2106 Rockefeller Ln #D      2/3     S11125488      152       66        1980   $405,500       1,387     Townhouse
515 Meyer Ln #39                2/3     11555947         153       26        1979    $412,000      1,464     Townhouse
2003 Nelson Av #4              2/3     V11132288      151         4         1979    $429,000      1,154     Townhouse
2710 182nd Pl                       3/1      P797674         153        71         1955    $438,000      1,034    Single Family House
2417 Vanderbilt Ln #A       3/3     V11119284      152        61         1988    $472,500      1,625     Townhouse
2711 185th St                         4/2     K11066669     153      114         1955    $520,000     1,442    Single Family House
1905 Plant Av                        1/1       P767407         151      202        1947    $520,000        406    Single Family House
1112 Stanford Av                  3/2      V11105401       154     86          1954    $545,000      1,100    Single Family House
2320 Marshallfield Ln       2/1      S11146191        152        6          1949     $565,000         879   Single Family House
1905 Speyer Ln                    2/2     V11150243       152    104          1952    $578,950      1,248    Single Family House
2315 Curtis Av                      3/2      S11071685      151     136          1959    $580,000     1,640   Single Family House
2909 Spreckels Ct               3/2      S11094199       153     111          1955    $587,000     1,152     Single Family House
1724 Dixon St                       2/2     S11117667         154      17           1961   $593,000      1,102    Single Family House
2702 Gates Ave #A             4/3     S11041876        151     195          2011   $620,000      1,873   Townhouse
1611 Armour Ln                   3/2    Y1106046          154     19           1963   $638,000       1,558   Single Family House
1916 Marshallfield Ln #B  3/3    S11059584        152    166          1986   $650,000      1,995    Townhouse
1525 Goodman Av               3/2    S11121239         154     44           1982   $670,000     1,824    Single Family Residence
1922 Gates AV #A               6/6    F11113814          151     95           2005  $675,000     3,020    Townhouse
1737 Steinhart Av                3/3    S11135262         154     27           1989   $735,000      1,891    Single FamilyHouse
1645 Morgan Ln                  3/3    V11078293       154   149            1983   $735,000      1,939    Single FamilyHouse
1906 Clark Ln #A                4/3    S11069450       152     81            1998   $769,000      2,726   Townhouse
1813 Belmont Ln #B           4/3    S11115287        152      51            1999   $789,000     2,418    Townhouse
1824 Harper Av                   3/3    S11109780       154      75          2000   $815,000      2,002    Single FamilyHouse
2019 Voorhees Av #B        4/3    P785914            151    100          2007    $845,000     2,549    Townhouse
1717 Reed                             4/3     S11137610        154      0             2011    $995,000    2,480    Single FamilyHouse
717 Amy Ln                          5/5    V11117229        153      28           2000   $997,500     3,301    Single Family House


If you've been tracking MLS sales as reported by CRMLS using the zip code 90278 only, the report indicates that there were 31 properties sold during November. Actually, this mistates the sale at 18219 Grevilea which is in the El Nido area having a Redondo Beach mailing address and Torrance services.


MLS "QUICK SEARCHES"

North Redondo Beach New Construction Townhouses, Condos and Single Family Houses for Sale
North Redondo Beach New MLS Listings - Condos, Townhomes and Single Family Houses for Sale
North Redondo Beach Short Sales - Townhouses, Condos and Single Family Houses listed in the MLS
North Redondo Beach REO Foreclosures - Townhouses, Condos and Single Family Houses listed in the MLS
North Redondo Beach Recent MLS Price Reductions - Townhouses, Condos and Single Family Houses for Sale
North Redondo Beach MLS Listings -  Condos, Townhomes and Single Family Houses for Sale less than $600,000
North Redondo Beach MLS Listings -  Condos, Townhomes and Single Family Houses for Sale $600,000 - $800,000

OTHER BEACH CITIES  REAL ESTATE WEBSITES

Hermosa Beach Real Estate: www.90254realestate.com
Manhattan Beach Real Estate: www.90266realestate.com
South Redondo Beach Real Estate: www.90277realestate.com

Follow Socalistings on Twitter or become a fan of our Facebook page: www.facebook.com/socalistings.

Redondo Beach Real Estate: Golden Hills

The Golden Hills neighborhood of North Redondo Beach (MLS area 154) is located south of the Artesia Blvd Manhattan Beach border and east of Hermosa Beach and extends south of Aviation Blvd to 190th St (Anita) on the North and South Redondo Beach border. The area is also sometimes referred to as the Golden Triangle.

Most of the housing in the Golden Hills are various generations of what are affectionately referred to as "tall and skinny" multi-level single family homes built on 2500 sq ft lots. The typical floor plan of the newer tall and skinny homes feature 2 bedrooms downstairs, one of which has a double sliding door leading to a very small backyard, and a great room, dining room, and master bedroom located upstairs. Vaulted cathedral ceilings are very common. The great room typically has a fireplace. Some Golden Hills homes also feature fireplaces in the master bedroom. Many of these homes are very similar in floor plan to 3 on a lot attached townhouses found in MLS area 151-152.

Other variations buyers may find are "standard" floor plans with the living room and dining room downstairs and 3 bedrooms upstairs. We have seen a few homes that also feature an open bonus area upstairs.

Because the Golden Hills have, well hills, some of the houses have a third lower level bonus room leading out to the backyard. There are also a few houses that have lofts built on a third level above the great room. Some homes have roof top decks.

Additionally, buyers will find a few attached townhouse complexes. The detached two on a lot townhomes and attached 2 and 3 on a lot properties in MLS area 151-152 are typically not found in the Golden Hills.

Many, but not all of the homes are in the highly desirable Jefferson Elementary School borders. Jefferson consistently is rated as one of the top Elementary Schools in the area. The borders for Jefferson are partially Golden Hills and partially MLS area 152.

You can walk or bike to the beach from many of the houses in the Golden Hills. While no Golden Hills homes have ocean views (that we know of), many have great mountain, city, and neighborhood views.

Prices for single family homes are typically comparable to attached and detached two on a lot properties, many of which have larger front or rear yards than the Golden Hills homes built on 2500 sq ft lots. There are a few pockets of 5000 sq ft lots that are zoned R1 (not R1-A) and can not be subdivided. Many of the older single family homes on the larger lots have been nicely updated.

The major drawback to many of the homes in the Golden Hills are the small lots which on many blocks create a row house effect. Typically, the garage is in front of the house and the front door is located on the side. Because many lots are 25 x 100 Golden Hills homes tend to be very close to each other and you'll often have windows that look right out at your neighbors.

Year to date, there have been a total of 60 sales in the Golden Hills. Here's some stats:

• 56 Single Family Home Sales
• 4 attached townhouse sales
• Lowest price single family $477,415
• Highest price single family $905K
• 8 short sales
• 1 probate sale
• 1 REO (bank owned foreclosure)
• Average selling price $655,270
• Average 3 bedroom 1676 sq ft

Currently there are 16 Golden Hills properties for sale; 2 attached townhouses and 14 single family homes. The lowest price is $379K and the highest is $899K which tracks fairly well with the year to date numbers. Four MLS listings are short sales and 2 are REOs. So, distressed sales in the Golden Hills are tracking higher than than earlier in the year which is indicative of Redondo Beach in general right now.

The MLS currently lists 12 Golden Hills properties currently in escrow (either pending or backup status) of which 2 are REOs and one is a short sale. All are single family homes. Following are some real examples or active, pending, and sold MLS listings indicative of Golden Hills real estate activity.

Redondo Beach Real Estate: Short Sale Trends and Statistics

Short sales are becoming more prevalent in North Redondo Beach (90278) and are having a greater influence in the real estate market. Short sale list prices continue to affect pricing on standard sales even though most short sales will fail to close and if they do so, not at the initial advertised price.

As of this posting, there are currently a total of 124 active MLS listings in Redondo Beach of which 26 (20%) are short sales. You would expect this trend reflected in closings. It is not. Year to date there have been 309 closed real estate transactions in North Redondo Beach of which only 43 (14%) have been short sales. Currently there are 23 short sales in escrow (MLS status "pending" or "backup") out of a total of 73 properties in escrow. Of course many of these short sales will remain in escrow for quite a while waiting for approval but we do not expect to see a new trend indicating that over 30% of North Redondo Beach real estate will be sold as short sales.  FYI, of the 35 North Redondo Beach home sales reported in the MLS during September 201, only 4 were short sales. That's 11% which if anything indicates a downward trend from the year to date statistic.

We believe that one of the drivers in the spike of MLS listed short sale real estate is the increase of filings in August as indicated in the chart below. A lot of this activity was driven by one servicer, BofA, being more aggressive and active than in previous months. Clearly, it wold be a major deviation from recent history if the majority of the listed short sales were approved and closed.

Many sellers are more inclined these days to list their home as a short sale than were a few years ago when the housing collapse began. One reason is that there is less of a social stigma. In fact, short sales are the "new normal", if you will. Homeowners also realize that they may get relocation money or cash for keys of they work with the bank to do a short sale and if nothing else, extend the time they can be in the house without paying their mortgage or property taxes. It is not uncommon for a homeowner to extend their period of "free rent" so to speak for over a year and we have even seen incidents of 2 plus years before a family is evicted. Speaking of which, take a look at the following graph to see how some of these situations play out.

As you can see, the time to foreclose is trending down from where it was previously while the number of NODs filed are increasing. Hmnn. Curiously, and we'll discuss this in a future blog post on bank owned REO foreclosures and the "shadow inventory", the time it is taking banks to resell has spiked way up. We think this is due to a few very poorly priced REO properties that have been lingering on the market for quite a while. But, lest we digress to far, best to stick on the short sale topic per se.

For the most part, buyers now realize that buying a short sale can be a long and drawn out process that may not have the desired outcome (or price). Be that as it may, there have been some exceptional short sale deals and our advice to buyers remains as it has always been:

• Don't be seduced by the short sale listing price - that may be a figment of the listing agent's imagination.
• If there are attributes of the property that you like and would want to buy it even if it was not a short sale, it makes sense to make an offer.
• If you make an offer on a short sale, be patient and then be prepared to wait. Most are not approved and those that are take a while.

For more information, on short sales, call 310 975 5139. Search for Redondo Beach Short Sales listed in the MKS.

North Redondo Beach Real Estate Trends: Sales, Prices, Values

Whether you want to buy, sell, or invest in North Redondo Beach Real Estate, having hard data at your fingertips will help you determine price, value, and the direction that market trends are going on in. As the graph below indicates, over the past year or so, inventory has been coming down and sales have been consistent. That should indicate a firming up of prices which is likely to make sellers a lot happier then buyers. As any buyer currently in the market knows, the properties that are priced right with desirable attributes are selling quickly. Very quickly. And often at list price or higher.

At this point we are looking at 3.3 months of available inventory compared to a year ago at this time when it was 6 months (pended), and more importantly an absorption rate of 30% compared to a year ago when we were at 16%. That's a very significant swing that actually benefits sellers to a greater extent that buyers. But, as is often the case, market perception trails reality by about 6 months (not on chart, lol).

One of the more interesting data points we see in the following table is that while there is less inventory and more sales, the days on market has gone up. Go figure.

For a personalized report, free consultation, or more specific data on a specific home you want to buy or sell, email socalistings@yahoo.com or call 310 975 5139 to buy or sell Redondo Beach Real Estate.

If you haven't noticed, we've recently relaunched www.90277realestate.com for South Redondo Beach Real Estate. Going forward, we'll report separately on the tow markets as pricing and housing trends have a significant enough difference.

Redondo Beach Real Estate: Rent vs Buy

Much of the Redondo Beach Real Estate activity over the last few years has been driven by first time home buyers. Today, many renters with stable job situations and adequate savings and reserves have come to the conclusion that at current prices and interest rates, it makes a whole lot of economic sense to buy a home rather than rent. This blog post will discuss one common metric: the rent versus buy formula and how Redondo Beach Real Estate compares to Los Angeles in general as well as the national real estate market.

Here's a simple calculation you can quickly do to decide whether it is better to rent or buy real estate. Dived the purchase price of any property by the annual rent. That's it. Pretty simple and straight forward.

As an example, currently you can buy a fairly new 3 on a lot townhouse in North Redondo Beach (pictured above) for about $575,000. The same units are renting for about $3,000 per month (and sometimes higher). If you divide $575,000 by $36,000 (your annualized rent), you come up with a ratio of 15.97.

In general, a ratio between 16 and 20 means that it's more expensive to rent than to buy, but buying may be better than renting depending on personal circumstances, such as one's tax bracket, (Consult your CPA or tax preparer.) Any ratio above 20 indicates that owning is much more costly than renting. And if you are below 16, that's a piece of real estate you want to own.

(We actually take a more conservative approach to this calculation than many of the national real estate sites. Specifically, we do not include the individuals tax considerations into our calculation because those may change over time.)

Now let's do a reality check to see how well this holds up.

Going back to the above example of the townhouse in North Redondo Beach that can be bought for $575,000 or rented for $3,000 per month, here's what we look at.

If a buyer puts down 20% and finances 80% of the townhouse purchase price, there is an outstanding loan in the amount of $460,000. At an interest rate of 5% (which is high as of this writing), that is a fully amortized payment of $2,469.38 for a 30 year fixed rate mortgage. To that you can add the typical North Redondo Beach HOA fee of $150 and property taxes of let's say $600 per month. We are now at a monthly payment of $3,219.38 to own rather than rent. And, this is before calculating the benefit of any tax breaks, possible future real estate appreciation, etc. (We are also not considering that as of today, you could do a lot better that 5% on a 30 year fixed loan so in fact your payment to own may be the same or less than renting.)

In this post we are not going to discuss whether it makes more sense to do a 7 year adjustable ARM, or 10% down or other variables. We are only looking at the basic premise of renting vs buying real estate from a very conservative perspective.

So, it appears that the simple rant vs buy ration calculation is fairly well borne out by facts. Furture blog posts will look more specifically at other examples of North Redondo Beach houses, townhouses, and condos.

Here's some other facts you might find interesting or useful.


Top 10 US Cities to Rent vs. Buy:

Rank	City	State	Price-to-rent ratio
50	New York	N.Y.	36
49	Fort Worth	Texas	32
48	Omaha	Neb.	27
46	San Francisco	Calif.	24
47	Seattle	Wash.	24
45	Kansas City	Mo.	22
44	Portland	Ore.	20
43	Los Angeles	Calif.	19
42	Boston	Mass.	18
41	Memphis	Tenn.	17

This is nice because it shows that, in general, Redondo Beach Real Estate is a better investment than Los Angeles real estate over all.

	Pros	Cons
Renting	Flexiblity (can relocate easily)	No equity
	Can invest money elsewhere (stock market)	Annual rent increase could outpace inflation
	No upkeep fees (drippy faucets, broken dishwashers, etc.)
Buying	Tax-break: deduct mortgage interest and property taxes	Property tax and upkeep
	Potential tax-free capital gain	Mortgage costs
	Emotional satisfaction	Less flexibility should you want to move; in very bad housing markets, you could lose principal

Redondo Beach Short Sale News and Trends

It's probably a fair assumption that most people paying attention to the housing market have heard the term "short sale". If not, here's what we are referring to; a sale in which the property is sold for less than is owed. This may include not only the outstanding balance on the first and second mortgage but delinquent property taxes, HOA dues and more. It's best to think of these transactions as being "short pays" because from a timing perspective, they are anything but short and often drag on for 3-6 months or longer. The common question we often get from buyers is whether the short sale is worth it. Sellers want to know how the short sale down the block affects their property values. So, here's what we can tell you regarding short sales in North Redondo Beach.

Year to date 255 homes have been sold in North Redondo Beach (90278) including 36 short sales and 14 bank owned foreclosures (REOs). So, there is no doubt that distressed sales, both short sales and REOs are a force to be reckoned with whether you want to buy or sell Redondo Beach Real Estate. Short sales have accounted for 14% of the homes sold and REOs 5.5%. Collectively, distressed property sales are just slightly under 20% of all the real estate being sold in North Redondo Beach. If you need a visual on that, drive past 5 houses with for sale signs out front: one of them is a short sale or REO.

Currently, there are 146 homes for sale in North Redondo Beach of which an even 20 (13.5%) are listed in the MLS as short sales. Including the 14 REOs listed, 23% of the available real estate for sale are distressed properties. There are also 57 open escrows (either MLS status "pending" or "backup"), of which 6 are REOs and 17 short are short sales accounting for a collective 40% of the recent sales activity with short sales contributing almost 30%.

Our only reasonable conclusion can be that as a growing trend, short sales will comprise a larger percentage of Redondo Beach Real Estate.sales over the next few years.  Future blog posts will examine foreclosure activity including the "shadow inventory" and take a deeper dive into short sale activity.

North Redondo Beach Condo and Townhouse Market Update

North Redondo Beach Condo and Townhouse Market Update: As of this blog post, the MLS indicates that there are currently 99 condos or townhouses listed for sale in North Redondo Beach.  As we have noted previously, townhouse is not a legal description. Subsequently, all townhouses are technically condos and thus are subject to different financing and insurance requirements than single family houses. (We'll discuss current townhouse financing challenges toward the end of this article.) As always, we've posted some MLS "quick searches" or you can view the entire Redondo Beach MLS to search for homes.

We constantly are queried about the North Redondo Beach "shadow inventory" of properties in the foreclosure process or currently owned by the lenders and not yet listed in the MLS. So, for example while the MLS currently lists 9 bank owned REO foreclosures, and 17 short sales (of which 2 have notices of default (NOD) filed) we can share with you that there are an additional 22 homes total owned by the bans-investors, 27 with NODS filed and 47 set to go to auction. You can learn more about the foreclosure process here.

Here's some other interesting real estate statistics for the condos and townhouses currently listed for sale in the MLS:

• 26 are detached freestanding homes which are easier to finance
• 73 are attached units (more difficult to qualify for FHA financing)
• 45 are in area 151 - North of Artesia Blvd
• 50 are in area 152 - South of Artesia Blvd
• 81 are listed as townhouses

Through the end of July 2011, the MLS reports that there have been 135 townhouse and condo sales in North Redondo Beach. The closed MLS townhouse and condo sales indicate that:

• 50 are in area 151 - North of Artesia Blvd
• 77 are in area 152 - South of Artesia Blvd
• 5   bank owned REO foreclosures
• 20 short sales
• 42 were detached townhouses
• 31 townhouses were 4 bedroom or larger
• 60 townhouses or condos sold for less than $600K
• 20 townhouses or condos sold were smaller than 1400 sq ft

So, what does this all mean? Well, that depends on whether you are buying or selling Redondo Beach Real Estate. As a seller, you are facing steep competition from both foreclosure sellers and standard sellers. Looking at the data above, you can see that there are about 20 condo - townhouse sales in North Redondo Beach every month. But there are 100 condos and townhouses listed for sale in the MLS. So, do you want to be one of the 20 or one of the 70? It is therefore key to understand the absorption rate for homes similar to yours. In other words, how many similar homes sell, for how much, and how fast? That can only be answered on an individual basis for each property. A good way to get started is our Market Snapshot product or just call 310 975 5139 for specifics regarding your home.

If you are thinking of buying Redondo Beach Real Estate, you probably already know that it is currently a buyer's market. That means that there are more homes for sale than buyers to meet the demand. If you have an agent that is a tough negotiator, townhouses and condos can be purchased for under $300 sq ft. (We have gotten deals for buyer clients this year in the $280 sq ft range.)

It's important to have a strategy and not just be looking for a "deal". (Hint - everyone's looking for a deal.) You may want to buy a foreclosure townhouse under fair market value and fix it up, or may have the time to wait for a short sale to be approved (and most aren't). Your interests may best be served by jumping on new listings or recent price reductions. Here's some MLS "quick searches to find Redondo Beach condos, townhouses and single family homes listed for sale in the MLS.

North Redondo Beach New Construction Townhouses, Condos and Single Family Houses for Sale
North Redondo Beach New MLS Listings - Condos, Townhomes and Single Family Houses for Sale
North Redondo Beach Short Sales - Townhouses, Condos and Single Family Houses listed in the MLS
North Redondo Beach REO Foreclosures - Townhouses, Condos and Single Family Houses listed in the MLS
North Redondo Beach Recent MLS Price Reductions - Townhouses, Condos and Single Family Houses for Sale
North Redondo Beach MLS Listings -  Condos, Townhomes and Single Family Houses for Sale less than $600,000
North Redondo Beach MLS Listings -  Condos, Townhomes and Single Family Houses for Sale $600,000 - $800,000

Whether you are buying or selling, here's what you need to know about townhouse and condo financing right now. Detached properties are easier to finance. If the association is "inactive" as many in North Redondo Beach are, it is easier to get FHA financing. As "spot approvals" are no longer allowed for FHA, the entire project needs approval for attached units. That is a difficult and rather long process. A number of lenders are now offering 10% and even 5% no PMI loan products for condos and townhouses. But, in any case, you will probably require a "HOA cert". The lender will want to know how may units are in arrears, how many are tenant occupied and other information regarding the health of the association. Additionally, as of October 1, 2011 jumbo conforming loan limits will drop to $625K from $729,750. In fact, many lenders have stopped taking loan applications at the higher level as of July 1. We anticipate that this may drive townhouse prices down further. Good news for buyers, bad for sellers.

If you are interested in Beach Cities Real Estate, please visit our sister sites, www.90266realestate.com for Manhattan Beach Real Estate and www.90254realestate.com for Hermosa Beach Real Estate. You can also follow Socalistings on Facebook or Twitter or read Ellis Posner's Zillow profile to learn more on how to buy or sell real estate with confidence.

SHOREWOOD REALTORS REDONDO BEACH

If you live, work, or just visit Redondo Beach, you've certainly seen Shorewood Realtors blue "Sign of Success" hanging in front of houses for sale. A lot of houses if truth be told. Here's some more information about Shorewood Realtors you might find useful if you want to buy or sell Redondo Beach Real Estate.

Shorewood Realtors is one of the most dominant residential Real Estate brokerages in the South Bay with over 350 active Real Estate agents. Shorewood Realtors has come a long way since founder and co-owner Arnold Goldstein opened the first office in 1969 in Hermosa Beach not far from where his office is located today.

Shorewood Realtors has 7 offices in total plus an affiliated escrow company, Brighton Escrow in Hermosa Beach. In addition to the Redondo Beach Shorewood office, there are two Hermosa Beach Shorewood Realtors offices, 2 Shorewood Realtors offices in Manhattan Beach, and one each in El Segundo and on the Palos Verdes Peninsula. The corporate headquarters as well as property management and the agent training facility are located in Manhattan Beach. The management team is rounded out by Larry Wolf the other co-owner and Mike Collins, Shorewood's General Manager both of whom are located at the Manhattan Beach corporate office.

Shorewood Realtors typically ranks in the top 50 national real estate firms based on sales volume (although for 2010, Shorewood was #69). Individual agent production is very high with Shorewood Realtors ranking number 36 in the country for individual real estate agent production and number 8 for average real estate agent sales.

Shorewood maintains a unique dominant market position in the Beach Cities and throughout the greater South Bay in all market segments including price and property type (condo, townhouse, single family home).

For example, over the last 12 months, Shorewood Realtors sold 213 properties in Redondo Beach. Of these, 119 were Shorewood listings and Shorewood Realtors represented buyers in 94 other transactions. In terms of total sales, this is a 13.7% market share. As for dollar volume, ($157M), that's a 13.9% share. With 54 current listings, Shorewood is representing 16.4% of the sellers on the market. Any business in any industry would be very proud of those numbers. Shorewood Realtors has a larger market share in Redondo Beach than the next 3 brokerages combined in most categories.

So, what does that mean for you if you choose a Shorewood real estate agent? Well, that depends on whether you are buying or selling Redondo Beach Real Estate. As a buyer, you will get the "inside track" on Shorewood Realtors listings and often get a heads up days before a property hits the MLS or before there is a price reduction. This can be the crucial difference between successfully securing a home or missing out. As a seller, your listing gets high visibility among the Shorewood Realtors agent community through the daily "NTS" email that goes out to 350 Shorewood agents, Shorewood Caravan and myriad other ways this networked group of professional Realtors work with each other. (Realistically, your buyer will not be represented by your listing agent which is why agent cooperation is paramount.) Additionally, because of Shorewood Realtors high visibility in the local real estate community, there are various other resources at your disposal to assist in the transaction such as home and pest inspectors, title companies, lenders, contractors and escrow officers. Call 310 975 5139 to buy or sell Redondo Beach Real Estate with a Real Estate Agent from Shorewood Realtors.

North Redondo Beach New High End MLS Townhouse Listings

Two higher end detached townhouses hit the MLS this week that we really like. Tell us what you think of these Redondo Beach Detached Townouses listed for sale in the MLS. One is new construction, the other is a resale. Both are really nice. The listed sq ft is per the builder (btv).

2005 Marshallfield Lane Unit B: 4 bedrooms, 3.5 baths, 2500 sq ft. Listed in the MLS for $939,000 which is $375 per sq ft. New construction in the Jefferson School District. This two on a lot is very well done with high end custom features such as arched door entry with a beautiful mosaic that mirrors the crown molding above. Pre-cast fireplace in a large open living room with 2 layers of crown molding. The breakfast nook neighbors the living room with a chandelier that sits center over the area in a drop ceiling. Custom kitchen cabinets, complete with pull outs and lazy susan, granite counter tops, travertine backsplash, stainless steel appliances, wine cooler, hidden outlets, and recessed lighting. The guest bath walls are are tiled with polished travertine to cabinet height with a arched mirror and elegantly crafted cabinetry. All the bedrooms are upstairs and spacious with high ceilings. The master bathroom has crown moldings, a large walk-in closet, frameless shower, jacuzzi tub, and vanity. MLS S11085683. CLICK HERE to see the listing.

2021 Voorhees Ave Unit B: Built in 2003 this 3500 sq ft, 4 bedroom, 2.5 bathroom is listed for $919,000 which is an amazingly low $263 per sq ft. This gorgeous freestanding Mediterranean town home was  built by renowned La Charite homes. Gourmet kitchen features slab granite counters, custom alder wood cabinetry & upgraded stainless steel appliances. Floor plan includes formal dining room and living room. Don’t miss the huge family/game room on lower level. The lower level also has a separate office. This home has extensive use of natural stone. The fireplace is a focal point of the living room. Master suite also has lovely architectural features and a large walk-in closet. The master suite is separated by a two-sided fireplace. Luxurious master bath features spa tub, separate shower & double sinks. Travertine flooring and upgraded designer carpets throughout home with security system and custom window coverings make this home complete. MLS S11092201. CLICK HERE to see the listing.

Interested in other Redondo Beach homes for sale? Check out the following "quick searches" to view Redondo Beach Real Estate for sale.

North Redondo Beach New Construction Townhouses, Condos and Single Family Houses for Sale
North Redondo Beach New MLS Listings - Condos, Townhomes and Single Family Houses for Sale
North Redondo Beach Short Sales - Townhouses, Condos and Single Family Houses listed in the MLS
North Redondo Beach REO Foreclosures - Townhouses, Condos and Single Family Houses listed in the MLS
North Redondo Beach Recent MLS Price Reductions - Townhouses, Condos and Single Family Houses for Sale
North Redondo Beach MLS Listings -  Condos, Townhomes and Single Family Houses for Sale less than $600,000
North Redondo Beach MLS Listings -  Condos, Townhomes and Single Family Houses for Sale $600,000 - $800,000

Great Deal on a Redondo Beach REO Townhouse

Well this is a great deal if you are a buyer and very disturbing if you are a homeowner. A new bank owned REO foreclosure listing hit the MLS today. 2200 Mathews Unit 3 just hit the market listed at $435,000. This 3 bedroom, 1.5 bathroom, 1602 sq ft attached townhouse with it's own driveway is listed at $271 per sq ft. That is very low. For those who haven't been following local pricing, most townhouses are selling above $300 per sq ft and buyers consider anything under $300 to be a good buy. We have seen other 3 on a lots sell for $150K higher. Buyers, where are you? Here's what else we can tell you about this REO deal.

1602 sq.ft. unit with 3 bdrms plus a huge laundry room. Hardwood flooring on down stair hallway area, staircase, living room and kitchen. Very spacious living room with wood beamed ceiling. Corner fireplace in living room with hearth. An abundance of kitchen cabinets and almost new stainless steel side-by-side refrigerator, oven, dishwasher and cook top. Skylight in master bathroom makes for a light and airy room. Master bedroom has vaulted wood beamed ceiling, additional windows over large mirrored closet. Wrap around balcony off living room. Newer water heater in garage plus unit has a newer roll-up garage door. Some painting and new carpeting in the 3 bedrooms will make this unit comfortable and cozy. Use your your green thumb on the front and back yard. Because this is a bank owned REO foreclosure, property sold in "as is" condition.

To view MLS listing S11088420 CLICK HERE or  FOLLOW THIS LINK to view all the REOs and foreclosures currently for sale in N Redondo Beach.

New Construction Homes for Sale: Townhouses, Condos, and Single Family Houses

Redondo Beach Real Estate Update: New Construction. This site has been tracking new homes built in North and South Redondo Beach and we're pleased to report that newly constructed homes are still available and selling to qualified buyers.

As of this writing, there are 11 new construction properties listed for sale (with more on the way). Of the homes listed in the MLS, 1 of the 11 is a single family house, 7 are detached two on a lot townhouses, and the remaining 3 are attached townhouses. North Redondo (90278) seems to be most of the activity is, 10 listings, while only one is found in South Redondo Beach.

So, check out the following brief descriptions and then click on the MLS numbers to view the full listing. Call 310 975 5139 for more information or to make an offer on any of these homes.

2000 W Robinson St , Redondo Beach 90278: Single Family House on a premium corner lot in Redondo Beach. 5 bedrooms, 4 bathrooms, formal living  and dining rooms plus a rooms. Builder states 3776 sq ft. Lot is 5200 sq ft. Kitchen with top of the line appliances, and breakfast bar. Nice backyard for entertaining. Lots of light throughout the house. Dramatic Entry 25 feet ceiling height, Solid hardwood, arched stair case, extensive premium quality in custom finish. Crown molding, ceiling details, cabinets, 8 ft. solid wood interior doors, hardwood floor, travertine, marble, granite and more. Listed for $1,389,000. MLS S11069708.

123 S Guadalupe, Redondo Beach 90277: There are actually 2 for sale. These are Tuscon-Villa style 3-story floor plan, approximately 2,500 sq. ft., with 4 bedrooms, 2.5 bathrooms, and oversized two-car garage. Den-loft on third story with panoramic ocean views. Large outdoor deck with covered sitting area with fireplace. Second level features a wide open floor plan with private balcony, living room with fireplace, and dining room, which also captures the beautiful views. Gorgeous gourmet kitchen with commercial grade stainless steel appliances and granite slab counter tops. Beautiful custom, hand-distressed Hickory Pecan hardwood floors throughout entry and 2nd level living area. Proximity to ocean provides this home with refreshing sea breezes. Listed for $1,095,000. MLS S11050008.

2501 Huntington Ln, Redondo Beach CA, 90278: Brand-new detached townhome 2776 sq ft 4 bedroom on a corner lot, boasting beautiful Spanish style details and design. Corner lot, no common driveway. Over-sized garage and an extra large rooftop deck. Each unit has it's own separate driveways and different addresses, closest thing you can get to a single family home, for this price and for new construction. Private backyard, and lushly landscaped front yards. Larger square footage than most townhomes on the market, and even many single family homes in North Redondo. Listed for $939,000. MLS V10128398. We like this one a lot and even more so if you can buy it for less than $900K.

1917 Gates Av # B, Redondo Beach 90278:  New construction home in Redondo Beach with great Views from the Roof Top Deck. 4 bedrooms & 3.5 bathrooms (2 masters). They have beautiful travertine downstairs & gleaming hickory hardwood floors on the stairs, the landing area and the master bedroom. One of the 2 fireplaces is in the great room which flows out to a nice back yard. The gourmet kitchen has solid granite counters, custom built cabinets, a breakfast bar and top of the line appliances with a 6 burner Jenn-Air stove. Upstairs there is a south facing balcony. Property is located in a great location. Listed for $929,000. MLS S11033727.

2005 Marshallfield Ln # A, Redondo Beach 90278: The only new 2 on a lot home in the Jefferson School District.  From the entry, you can see the pre-cast fireplace in a large open living room with 2 layers of crown molding. Custom cabinets, complete with pull outs and lazy susan, granite counter tops, travertine back splash, and stainless steel appliances complete the kitchen. The wine cooler, hidden outlets, and recessed lighting in the kitchen give a warm touch and a great place to entertain.  MLS S11076684.

1911 Curtis Av # A, Redondo Beach 90278: Brand new construction detached two-on-a-lot townhome built by Casner Construction. This is the front unit featuring 4 Bedrooms, 2.5 Bathrooms and open floor plan. Gorgeous wood floors, granite counter tops and stainless steel appliances. Bright and spacious. Yard is beautifully landscaped with a fountain in front. Listed for $909,000. The back unit (see below) which is listed by a different broker is priced at $899K which we obviously like better. According to the builder this unit is 2450 sq ft. MLS V11060489.

1911 Curtis Av # B, Redondo Beach 90278: Detached new construction townhome listing by Casner Construction. Private back unit. Spanish tile floor, stone fireplace wired for a flat screen, window shutters, high ceilings and beautiful double doors that lead to the private back yard. Kitchen is open to the dining area and living space and includes, lots of cabinets, granite counter tops, custom back splash, stainless steel energy efficient appliances, food pantry and island with sink. Winding staircase with wrought iron railing leads you to all the bedrooms and 2nd family room. Upstairs has hardwood floors, high ceilings and skylights. Listed for $899,000. MLS S11061515.

2607 Huntington LN # B, Redondo Beach 90278: Brand-new detached townhomes in North Redondo, each with their own private backyard. Two balconies. Over 2500 sq. ft. with 4 bedrooms and 3.5 bathrooms. Each unit also includes a den area upstairs, a wet bar in the kitchen, and a utility sink in the garage. Listed for $885,000. MLS V11032595. We think a lucky buyer may pick this one up for under $850K. Standard product. 4 bedrooms, 3.5 baths, a little over 2500 sq ft, shared driveway. But it's new.

1804 Vanderbilt # A, Redondo Beach 90278: Feel and see the difference when you walk into this new town home. It comes with elegant and lasting finish. With a decorative entry door that ushers you in to the entry with crown molding, porcelain tile, and bright recess lights. The two bedrooms on either side come with drop ceilings, walk in closet in one room and large closet in the second, and nice tan carpet. The dark walnut hardwood floors lead you to the second floor. On the second floor you enter the living room with high ceilings with gas fireplace. The dining area comes with a door that leads to a wrap around deck. The kitchen has custom cabinetry with pullouts, lazy susan, GE Profile stainless steel appliances. The Brazilian granite and travertine backsplash are undisturbed with outlets as they are tucked away under the cabinets. Listed for $699,000. MLS S11071658.

2021 Grant AV # C, Redondo Beach 90278: 3 bedroom, 2.5 bathroom home with over 1700 sq ft. Gorgeous hickory floors, vaulted ceiling and custom alder cabinetry throughout enhance this expansive space just waiting for you to call it home. The kitchen boasts stainless steel appliances and granite counter tops and flows directly into the open living and dining spaces that spill over to the fabulous deck that gives you the perfect space for any sort of gathering. Extensive use of stone and travertine in neutral tones. . Steps to the schools and shopping along with easy access to the airport and freeways make this home the ideal location. Listed for $669,000. MLS S11015208. If this goes below $625K, it's a very solid deal compared to other resales currently listed.

2702 Gates Ave # A, Redondo Beach 90278: New Townhomes by Lloyd Anastasi, Natural maple cabinets in kitchen and bath, hickory distress hardwood floors living and stairs, kitchen and bath finished with travertine and marble, granite and marble slab counter tops kitchen and bath, limestone fireplace finish, tumble stone kitchen splash, five ceiling fans, crown moldings, intercom, prewired security, enclosed balcony with entry from living and dining, fenced exclusive use front and side yards. Listed for $659,900. MLS S11041876. Property is pretty far east but for those who need 405 quick access this could work. At closer to $600K, we like it a whole lot better.