Sunday, August 2, 2015

Homes for Sale in Redondo Beach CA

These are all the homes currently listed for sale in Redondo Beach CA including Single Family Houses, Townhomes, Condominiums, lots, fixers, new construction, flip, and foreclosures. The map will update in real time whenever you visit this page and is always current. These are all the MLS listings from every Broker, Realty company, and real estate agent. You can also see the home listings in full screen mode by following this link.

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Here's other listing links:

Saturday, August 1, 2015

Townhomes for Sale in North Redondo Beach CA


Redondo Beach attached 2 on a lot Townhous for Sale

With some of the very rapid price escalation, I think buyers are over looking some of the attached 2 bedroom 2 on a lot properties from the '80s and early '90s (after which we mostly saw 4 bedroom units. This listing at 2317 Pullman just hit the market today and is priced "just right" at $799,000 for 2218 SqFt. I think the MLS description really sums it up adequately:

"Located on a family friendly & quiet one way street, the heavy lifting has been done on this lovely town home built in 1989. New dual pane windows throughout, major roof tune up and kitchen remodel are recent. Bathrooms are original and in very clean condition awaiting their next owners upgrades. This cozy floor plan offers a living room with vaulted wood beam ceilings and large picture windows to the front yard. Family room with brick fireplace is off the kitchen, which is huge and offers a large breakfast area as well as tons of cabinet and pantry space. Formal dining room with window seat overlooking front yard. Master suite has double door entry, vaulted wood beam ceilings and a large private deck with a small exterior bonus room. Master bath is flooded with natural skylight and has double sinks plus separate tub & shower, walk in closet as well as second closet with sliding doors. The two other bedrooms are very spacious as is the hallway bathroom. There are no common walls with the back unit, except the garage walls."

Friday, July 31, 2015

Open Houses for Sale Redondo Beach CA

New Construction North Redondo Beach CA

Back by popular demand, well maybe not that popular, is my North Redondo Beach Open House guide with some comments as to homes I think either represent good value (or bad) and what's worth looking at or not. At least in my very humble opinion. I'm not sure if I can commit to  having the time to review these homes on any regular basis so enjoy this one.

Let me apologize in advance if you don't like my comments about your home or listing if you are an agent. Not trying to offend anyone, just reflecting the current market conditions.

if you are a first time buyer reading this or following Socalistings on Facebook and not working with an agent (ok that's a lot of ifs) contact me for a special offer than can save you up to $5,000 on your closing costs. This is a real money saving deal.

Here's what's open the weekend of August 1-2, 2015.

Sunday, July 26, 2015

Redondo Beach Golden Hills Homes for Sale

Nicely remodeled Golden Hills Tall and Skinny SFR for Sale in Redondo Beach CA

Here's the question of the day: how much higher can home prices go in the Redondo Beach Golden Hills?

If it seems that I am writing a lot about Golden Hills, the answer is yes I am but primarily because a) I sell a fair number of homes in MLS Area 154 and b) I have a number of clients living there who are interested in their home values.

Let's roll the clock back just a few months to when I listed 1748 Dixon St (pictured below) for $879,000 and it sold for $920,000. At the time, that seemed to be a very high price for a mostly original 1980's Tall and Skinny that all things considered was relatively close to Artesia Blvd. Furthermore, the buyers were planning on doing a major remodel as well and as far as I could tell were sinking another $100K + into the project (or something close to that).  In fact, I had to do a lot of work with the appraiser who was really struggling to get his arms around the pricing.

Thursday, July 23, 2015

LA Times "Hot Property" Home of the Week in Redondo Beach | Listed by Ellis Posner

Listed for Sale in Redondo Beach CA by Ellis Posner - Teles Properties

I am a huge fan of modern, contemporary, steel and glass architectural homes. And we certainly do not see enough of them in the South Bay Beach Cities and Redondo Beach. Well that might be changing somewhat as more and more buyers gravitate from out of state and LA Westside to the South Bay.

I was very excited about the opportunity to list this extremely unique property which is one of the largest homes built at the beach and one of the most unique. My marketing plan always included PR and media coverage and I was very proud when the LA Times selected this home to be the "Home of the Week" in the July 19th online and print editions.

Here's some more:

Saturday, July 18, 2015

Redondo Beach Single Family Homes for Sale | North vs South

We've seen a healthy increase in median prices in both Redondo Beach zip codes but a much more substantial jump in price per SqFt in South Redondo Beach. This may be a function of some smaller houses on larger lots selling in 90277 and creating a distortion. Also in South Redondo there are a number of properties with usable SqFt in detached guest houses that are not counted in the gross SqFt allowed by appraisers.

Some of the negative numbers in 90277 do not reflect a weakening market as much as they do declining inventory. There are also at least a few properties that I can think of in South Redondo Beach that have been sitting on the market for a while (because they are overpriced).

Teles Redondo Beach CA Micro Market Report | SFR
Speaking of overpriced, much of the acceleration in prices and homes sold (100% year over year) in North Redondo Beach is due to the over heated activity in the Redondo Beach Golden Hills where we are seeing new listings coming out $50K higher week over week! Well maybe that's an exaggeration but not by much. Once a few of those close escrow we may see a material change in these numbers.

Lastly as you can see the inventory is declining for North Redondo Beach SFRs.

Monday, July 13, 2015

Redondo Beach Homes for Sale: Are we already in the next Bubble?


With the recent run up in prices, the most common question I am getting from buyers right now is whether or not we are in a new housing bubble and if prices will come crashing down anytime soon. While personally I don't think we are in a bubble (depending on how you define bubble - and we'll get to that), I do not believe that what we have been seeing in Redondo Beach or Manhattan or Hermosa Beach for that matter is sustainable. What I am particularly referring to are the huge jumps I am seeing week to week in certain neighborhoods and property types and I'll get to that shortly as well.

Let's talk about "bubble" first. I was recently reading an article by Robert Shiller (of the the S&P Case-Shiller report) where he specifically addresses some of the components of bubbles such as investors chasing speculative short term asset profits with no particular understanding of what they are buying or selling, only that it has to potential to appreciate. Don't get me wrong, I'm all for profits. While my personal inclination may tend more towards the buy and hold approach I get it that there are many investors making short term bets to their advantage.

But that is not what is happening in the local realty market right now. Whether it is home buyers I am working with or the buyers for my real estate listings, what I am mostly seeing are people who need a place to live and who do not want to pay rent. That just doesn't feel like a bubble to me.

Friday, July 10, 2015

Selling Your Home in Redondo Beach CA


We have been in a very strong "Seller's Market" for quite a while. In fact, many people fear we are in a bubble. Or if not a bubble an unsustainable cycle of accelerated prices.

There are still 3 key elements to a successful sale of your home. What I refer to as the 3 P's:
  • Price
  • Presentation
  • Plan
By price, I am referring to pricing your home to get the most visibility and activity in the shortest period of time. Real Estate is not like fine wine and listings tend to not age well.

Presentation is everything from staging to professional photography, videos, property websites etc.

And most important is the plan. You wouldn't start a new business venture without a plan so why would you sell your house without one.

Here's the outline of how I work a plan:

Monday, July 6, 2015

Just Sold | Redondo Beach Golden Hills SFR

Sold w/multiple offers 8 days on market $81,000 over MLS List Price

If you have been looking for a home to buy in Redondo Beach recently you most likely know exactly how competitive the market is. As in multiple offers, properties selling over the asking price, waiving all sorts of contingencies etc. Probably the most sought after neighborhood is MLS Area 154, Redondo Beach Golden Hills, and activity in what we call the "Golden Triangle" can be extremely heated with the same comment applying to any home you can walk to Jefferson Elementary from.

I just listed and sold 1719 Dixon St. It lasted on the market all of 8 days and yes, we had multiple offers. Lots of them. I listed the property for $849,000 and it eventually sold for $930,000. Not a misprint, that's $81,000 over the list price. The buyer who ultimately got the property was just barely over the next highest offer.

Here's my MLS description:

Thursday, July 2, 2015

Redondo Beach Luxury Real Estate | Is this the New "Manhattan"?

Redondo Beach Luxury Craftsman

So is Redondo Beach becoming the new Manhattan Beach? Well if you are fortunate (and wealthy) enough to buy in Manhattan Beach, not really. For everyone else, pretty much.

Surprisingly what we are seeing are buyers who can afford the Manhattan Beach price point gravitating to South Redondo Beach, Golden Hills in North Redondo Beach as well as other desirable comparable luxury properties. There's more to it than just having lower mortgage payments, property taxes, and investment dollars tied up in real estate. Some people prefer to be closer to the beach or even have a view at a more attractive price point. Or they just like the more relaxed laid back lifestyle and prefer Riviera Village to let's say Manhattan Village.

With the AES power plant scheduled to come down in its present configuration by 2020 (and who knows what it will be replaced with), a new Shade Hotel set to go up along the waterfront, a major Redondo Pier renovation slated and an increasingly wealthier demographic, Redondo Beach may be the place to be looking if you have been priced out of Manhattan Beach or Hermosa Beach CA.

Sunday, June 28, 2015

How Much Does it Cost to Buy a Condo or Townhome in Redondo Beach?

Large One Bedroom Condo for Sale Redondo Beach CA

As in all things Real Estate related the answer is "it depends". Right now if you are looking at the absolute entry level in North Redondo Beach (I'll discuss South Redondo separately), the entry level price point for 2 bedrooms is in the high $500's and the nice ones are going for over $600K. Assume that three bedrooms start at $650K and the nicer, newer ones are going for mid to high $700's.

But sometimes you can catch a break and still get in under $500K. A good example is my recent listing and sale at 1916 Clark Lane. This property is a large one bedroom that my seller client had been renting for quite a while and needed to sell as part of a 1031 Exchange. By large one bedroom what I'm referring to is over 700 SqFt. Because this unit has very high vaulted ceilings and an outdoor balcony the same size as would be found in a much larger 2 or 3 bedroom, it really felt larger than the stated SqFt.

There were just no comps in North Redondo Beach for a property like this. I had to use a lot of "gut instinct" in terms of setting the price. Fortunately we found an "all cash" buyer and this sale closed in 2 weeks start to finish.

Remodeled 2 Bedroom Condo-Townhouse Redondo Beach

A good example of a very nice 2 bedroom my buyer clients currently have in escrow is 1904 Voorhees Unit D (pictured above).

Thursday, June 18, 2015

Redondo Beach CA Townhomes for Sale | Great Deal on a 4 Bedroom

Redondo Beach 4 Bedroom Townhouse for Sale

While it seemed that we may have been on the cusp of more inventory hitting the market just a few weeks ago, it seems like now we've settled back into the low volume of new listings each week. Buyers remain fixated on whatever new listing pops up on their mobile real estate app of choice and are self selecting past many good and sometimes great opportunities. 
A prime example of this is my listing at 2502 Rockefeller Lane Unit C in North Redondo Beach. It's easy to pass this one by because a) it is right next to a power tower and b) it doesn't show well.

I'm not going to try to persuade anyone that the power tower is a selling point, not my style. But that has already been priced in along with the presentation. This 4 bedroom over 1800 SqFt rear unit is listed at $421 SqFt which for a property built in 2005 may be as good as it gets. Here's how I describe this one in the MLS and I'm just being candid:

Thursday, June 11, 2015

Homes for Sale North Redondo Beach CA | New Listings on Broker's Open

Very Cute SFR MLS Area 152 N Redondo Beach
If your impression is that housing inventory in North Redondo Beach CA may be improving slightly, you may be (slightly) correct. All this is, of course, somewhat relative. If by slightly improving we mean that there are 60 something homes for sale rather than 50, then yes inventory is getting better. But make no mistake, this is still a "seller's market" with less than 90 days of listings on hand.

A few things buyers should be aware of.

First, over 50% of MLS listings that sell the first 15 days on the market in most South Bay neighborhoods will close escrow at or above the asking price. You don't see many properties selling for less than the asking price until they are on the market for 30 days or more.

Second, don't conclude that the list price is what you can buy a similar home for. Many listing agents, including yours truly, price homes low in order to get the maximum number of offers above the list price as quickly as possible.

Here's some properties I saw on this weeks Broker's Open house tour that I really liked.

Wednesday, June 10, 2015

Can You Buy or Sell a House While You Are Out of the Country?


Compared to other brokerages, Teles Properties does a lot of "international" business so I am often asked if you can buy or sell a house while you are out of the country. The answer, as in most things Real Estate is "is depends".

I'm going through two transactions currently where my clients are abroad, at least for the time being.

Fortunately electronic signing programs such as Docusign make a lot of the transactions much more manageable and most of the paperwork including disclosures and some of the escrow documents can be handled in this manner. I've had clients sign on smart phones, tablets, and laptops in remote parts of Southeast Asia as well all over Europe and Africa.

Fortunately, for my buyer clients, who are somewhere in the South Pacific as I write this, they have reasonable internet access, cell phone connections, and are able to text. And everyone knows we can't live without texting.