2017-01-19

How Much is My Redondo Beach House Worth?




Redondo Beach Home Values


Everyone loves to check out their home's value with instant online estimates. It seems that whenever you go to Facebook you'll even see one popping up in your news feed. Maybe even from me.

While these are all a lot of fun, the truth is they are not very accurate in Redondo Beach - even the ones that I offer (see above - but use it anyway!)

Maybe these online estimates are more accurate in other cities, particularly master planned communities with a few variations of the same floor plan. But around here, not really.

Here's why.

2017-01-18

Redondo Beach Townhomes for Sale | Coming Soon Listings

Redondo Beach Townhouse for Sale

Pocket Listings and Off Market Properties Redondo Beach CA


If you are a Buyer and you've been going to Open Houses recently, most likely you have heard the "urban myth" of pocket listings, off market sales and the like. It seems that every agent working every Open House in town is using that line. Of course once you "commit" to working with that agent, it turns out they have nothing to really show you! It is the 2017 version of the secret list of "shadow inventory" that everyone touted during the foreclosure crisis. Didn't exist then and doesn't exist now.

Well almost - unless I am your agent!

I have two listings that will be hitting the MLS in late July and early February.  If you or someone you know might be looking for a 4 bedroom over size "C" (rear) unit 3 on a lot, I have two that you may be able to buy off market at the right price. Or wait until they hit the MLS and the bidding wars start.
Here's why I think we will see some bidding wars.

Over the last year or so, other than new construction (which has been priced at around $1M) there have been only a few "C"s with backyard that have been available.

Both of the listings I have coming were built in 2005 and are in excellent condition. The floorplan is 2 bedrooms, including the master bedroom upstairs, and 2 down. The kitchens are gorgeous and the backyards are larger than most three on a lots. One has A/C which certainly is in high demand these days.

Pricing will be in the mid $800's. Call me for a private showing before anyone else sees these. 310 975 5139.

2017-01-17

Nextdoor Redondo Beach



Nextdoor: A Private Neighborhood Social Network


This is an unabashed plug for Nextdoor which if you haven't joined yet you really should. It is a very useful site for keeping up with what's going on, get referrals for just about anything, and network with your neighbors.

The is organized by sub-neighborhood and North Redondo Beach is further broken down much further than the MLS Areas.

There is a classified section and other than that it is free of advertising, at least for now and I haven't seen any of the extreme language or points of view you find elsewhere.

Needless to say you can also get the app for your phone.

Here's how they position themselves.

"Nextdoor is the best way to stay in the know about what’s going on in your neighborhood—whether it’s finding a last-minute babysitter, learning about an upcoming block party, or hearing about a rash of car break-ins. There are so many ways our neighbors can help us, we just need an easier way to connect with them."

North Redondo Beach Greenbelt


Here's an example from Nextdoor of an issue near and dear to my heart: improving the Greenbelt that runs under the power lines. Yeah, there are power lines but it could be made much nicer.

2017-01-09

Buying A Home in Redondo Beach | Jargon and Terminology You Need to Know


BUYING A HOME IN REDONDO BEACH CA


Redondo Beach has become one of the most desirable and hottest coastal Los Angeles County beach communities. Buyers find the combination of affordability, weather, location, schools, jobs, Freeway access, airport proximity, beaches and lifestyle to be unbeatable.

Whether you are a local or new to the area, chances are that you will have questions regarding some of our local terminology and the purchase process. In this post we'll address the local jargon and terminology and then handle the actual process in another post. (You can read answers to the most common Buyer questions here.)

If you want to view homes currently available for sale in Redondo Beach CA, scroll down to the bottom of this post. The results will update in real time whenever you revisit this site.

Please feel free to email or call me with any further questions.


REDONDO BEACH JARGON AND TERMINOLOGY


Beach Cities or South Bay


The Beach Cities which are comprised of Redondo Beach, Hermosa Beach, and Manhattan Beach are found within the greater South Bay which also includes surrounding cities such as Torrance, Hawthorne, Gardena, Lawndale, Palos Verdes and others. These are all independent cities. So unlike other neighborhoods in LA (Venice, Marina Del Rey, Westwood, West Hollywood) which are part of the City of LA, these are independent cities with their own police, city councils, fire departments, schools, etc.

Even thought the schools in the South Bay are, in general, better than LA Unified, some of the differences in housing prices may be a function of the local schools. Redondo Beach has great schools.

North Redondo or South Redondo


This is probably the biggest choice that most home Buyers have to make. While both are City of Redondo Beach, there are many differences as well.

In South Redondo Beach many homes are west of Pacific Coast Highway (PCH) and many have ocean views. As a result, these homes have historically been priced higher than most North Redondo Beach properties.

Many of the streets in North Redondo Beach are narrower than in South Redondo and there is often a denser feel. On the flip side, North Redondo Beach is much closer to freeways cutting down on commute time. North Redondo is also closer to Manhattan and Hermosa Beach  and offers 90% of the same lifestyle at 50% of the price.


REDONDO BEACH NEIGHBORHOODS

2017-01-06

North Redondo Beach Market Update | December 2016 Sales


North Redondo Beach Market Recap December 2016


North Redondo Beach homes are still in very high demand and you can expect the low inventory and Seller's Market of the past few years to continue into 2017. 

It is very likely that even though many properties are selling at their previous highs prices will go higher but at a slower pace than the blistering price acceleration we saw over the past few years. 

Based on three metrics: 
  • time-on-market
  • sale-to-list price ratio 
  • the frequency of price cuts
the market temperature in 90278 is considered "hot".

There were 43 closed escrows in North Redondo Beach during December of 2016. That is up from 40 during November and closer to the 44 closed escrows during October. 

For the full year, there were 491 total sales in North Redondo averaging 41 closing per month putting Q4 at or above the annual average on a monthly basis. (A separate post will review the full year 2016 results.)

As of this posting there are only 33 properties in escrow and with only 41 active MLS listings in North Redondo Beach this is still a fairly strong Seller's Market with just about 30 days of available inventory based on closings and less than a month of inventory based on properties under contract.

If you are considering selling your home during 2017, the timing could not be any better than right now before there are further interest rate hikes which will affect Buyer's purchasing power. Same thought for Buyers" if the right property presents itself there is no reason to wait because even if prices stay flat your monthly payment will increase as rates increase.

Key North Redondo Sales Metrics


The following numbers are based on December closings taken directly from the MLS.

  • Average Price: $900,681
  • Median  Price: $850,000
  • Highest Price: $1,795,000
  • Lowest Price: $355,000
  • Average Days on Market: 22
  • Single Family Houses: 18
  • Condos/Townhomes: 25
  • Over $1M: 12
  • Under $1M: 31
  • MLS Area 151 N of Artesia: 11
  • MLS Area 152 S  of Artesia: 15
  • MLS Area 152 El Nido: 7
  • MLS Area 154 Golden Hills: 10

Beach Cities December Sales

2016-12-30

Selling Your Home in Redondo Beach in 2017? Consider These 5 Design Trends

Example of Contemporary Design Trends 2017


Selling A Home In Redondo Beach CA


Let me start with stating that until fairly recently, maybe the last 2 years or so, with a few exceptions I would not advise clients in Redondo Beach to spend money to make improvements before they put their home on the market. Maybe that's simply because I don't like to spend other people's money or I just hadn't really seen the expenditures pencil out to bring higher enough prices to justify the investment. Or more pragmatically, prices just weren't at the level they are today and many Sellers just had tighter budgets.

As for what those exceptions were when I did encourage owners to spend money pre-listing, it was usually items that would come up in inspections such as a leaky roof, mold, electric panels that needed to be upgraded, sewer lines, etc. Other than the fact that inevitably the buyer would want these items addressed, I like to avoid any deal killers up front and more importantly, buyers and their agents always over estimate the cost of the repairs.

But I have had a change of heart.

While I still recommend addressing the items listed above and in fact recommend that Seller's get a home inspection up front to determine any issues, these days I am totally on board with making some strategic improvements when appropriate. In fact, a few minor changes plus some staging may dramatically improve the sales price for the better.

By a "strategic improvement" I am referring to things like replacing a few outdated chandeliers with more contemporary lighting; swapping out old recessed lighting bulbs with modern LED; painting the weather beaten front door (red), etc. In some instances this may even include getting rid of the really worn, discolored old carpet with new carpet (but not going all out and putting in hardwood). There's an awful lot of cosmetic improvement that can be done with budgets of $2,000-$10,000 and the money may be well spent. Needless to say that's all after you replace the leaky roof.

There's a lot of reasons why this is good business, not the least of which is that "presentation" is one of the key components to a successful sale and when I home looks great and has few items "called out" on the inspections, Buyers feel more confident that the property has been well maintained and are more inclined to go forward with the deal.

So, if you will be listing your home for sale in 2017 and spending the time and money to make some improvements, here's some current design trends you might want to consider. Not sure what to do? Contact me directly at 310 975 5139 or use this contact form.

White and Wood Kitchens

2016-12-28

Top 5 North Redondo Beach Homes for Sale


Hot Properties in North Redondo Beach


There are always some great properties on the market that Buyers seem to over look. Probably the main reason is because with the proliferation of mobile apps that everyone is walking around with, the emphasis has become more highly focused on the newest listings than it ever has been before.

This trend has been somewhat exasperated recently as there have been a number of distractions (elections, rate hikes, holidays, etc.)

What I look for on this list are properties that have been on the market for a while and which have features that the public might be over looking and which add value.

So, without further ado, here's my picks in a few different categories and price ranges. Scroll down to the end of this post for more photos etc.